LogicMark, Inc. Q2 FY2024 earnings call

• Transformed into a personal safety company with a vision for Care Village, a connected care ecosystem. - Modernized existing products and developed new solutions, including five PERS solutions and the Aster safety app. - Filed 14 patents since mid-2021, with a new patent related to risk and safety metrics calculation. - Focusing on expanding sales and marketing across government, B2C and B2B channels. - Launched products like Freedom Alert Mini and Aster safety app with various innovative features.

Revenue for the second quarter ended June 30, 2024 was $2.3 million, up slightly compared with the same period last year. A higher average selling price more than offset softness in unit sales. Gross margin was 67% for the three months ended June 30, 2024, down from 69% in the same period of 2023. Gross profit in the second quarter of 2024 was relatively unchanged at $1.6 million compared with $1.6 million in the same period last year. The company offers five PERS solutions including advanced fall detection, geofencing for memory care, etc., and the Aster safety app which turns smartphones into personal safety devices.

• Completed a registered secondary offering with gross proceeds before fees approximately $4.5 million. - Plan to hold a special meeting of stockholders on October 1 to seek approval for reverse split of shares to regain NASDAQ compliance and approval for issuance of 20% or more of common stock in connection with the secondary offering.

• Forward-looking statements involve risks and other factors that may cause actual results to differ materially from those statements.需参考LogicMark最近提交的10-K报告和后续向SEC提交的定期报告以及伴随本次电话会议的新闻稿中的风险因素，特别是其中的警示性陈述。

Q: Can you give color on how the DTC channel is gaining traction and plans to promote sales through DTC?

A: DTC is important. Working on Amazon, reducing costs, participating in Amazon shipping programs, launched Mini product and 911 product on that platform. Focused on D2C ad opportunities, increasing customer lifetime value.

Q: Are there other opportunities to provide services and/or new products for demographics outside traditional core demographic regarding Aster?

A: Aster market opens up new TAM. 66% of Americans afraid to do outdoor activities, which is a solid opportunity. Aster product allows B2B2C partnerships and more partnerships in this category to make products available through business and distribution partnerships.