2024 Q4 Form 10-Q Financial Statement

#000121390024098481 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $2.705M $2.367M
YoY Change 14.29% -13.97%
Cost Of Revenue $903.8K $770.0K
YoY Change 17.39% -26.48%
Gross Profit $1.802M $1.597M
YoY Change 12.79% -6.28%
Gross Profit Margin 66.59% 67.47%
Selling, General & Admin $2.327M $2.538M
YoY Change -8.33% -12.71%
% of Gross Profit 129.15% 158.91%
Research & Development $96.65K $242.7K
YoY Change -60.18% -35.25%
% of Gross Profit 5.36% 15.19%
Depreciation & Amortization $402.8K $217.8K
YoY Change 84.97% 3.38%
% of Gross Profit 22.36% 13.63%
Operating Expenses $3.401M $3.377M
YoY Change 0.72% -12.12%
Operating Profit -$1.600M -$1.780M
YoY Change -10.12% -16.77%
Interest Expense $41.11K $88.98K
YoY Change -53.8% 99.55%
% of Operating Profit
Other Income/Expense, Net $101.0K $54.30K
YoY Change 86.04% 21.78%
Pretax Income -$1.519M -$1.444M
YoY Change 5.15% -31.0%
Income Tax
% Of Pretax Income
Net Earnings -$1.519M -$1.444M
YoY Change 5.15% -31.0%
Net Earnings / Revenue -56.14% -61.02%
Basic Earnings Per Share -$0.20 -$1.10
Diluted Earnings Per Share -$0.20 -$1.10
COMMON SHARES
Basic Shares Outstanding 46.22M shares 6.065M shares 1.325M shares
Diluted Shares Outstanding 7.996M shares 1.380M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.586M $6.683M
YoY Change -16.42% -28.36%
Cash & Equivalents $5.600M $6.700M
Short-Term Investments
Other Short-Term Assets $486.5K $740.9K
YoY Change -34.33% -21.97%
Inventory $800.0K $1.136M
Prepaid Expenses $300.0K
Receivables $116.5K $12.19K
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.008M $8.572M
YoY Change -18.25% -27.18%
LONG-TERM ASSETS
Property, Plant & Equipment $139.3K $228.5K
YoY Change -39.05% -7.37%
Goodwill $3.144M $10.96M
YoY Change -71.31% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $9.035M $16.58M
YoY Change -45.51% 5.03%
TOTAL ASSETS
Total Short-Term Assets $7.008M $8.572M
Total Long-Term Assets $9.035M $16.58M
Total Assets $16.04M $25.15M
YoY Change -36.22% -8.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $549.1K $715.8K
YoY Change -23.29% -46.21%
Accrued Expenses $1.181M $1.211M
YoY Change -2.45% 21.56%
Deferred Revenue $150.0K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.881M $1.927M
YoY Change -2.4% -19.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $390.3K
YoY Change 17.78%
Total Long-Term Liabilities $0.00 $390.3K
YoY Change -100.0% 17.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.881M $1.927M
Total Long-Term Liabilities $0.00 $390.3K
Total Liabilities $1.881M $2.317M
YoY Change -18.84% -14.56%
SHAREHOLDERS EQUITY
Retained Earnings -$105.5M -$91.16M
YoY Change 15.7% 9.59%
Common Stock $1.187K $142.00
YoY Change 735.92% -85.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.35M $21.03M
YoY Change
Total Liabilities & Shareholders Equity $16.04M $25.15M
YoY Change -36.22% -8.73%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$1.519M -$1.444M
YoY Change 5.15% -31.0%
Depreciation, Depletion And Amortization $402.8K $217.8K
YoY Change 84.97% 3.38%
Cash From Operating Activities -$643.0K -$395.6K
YoY Change 62.54% -72.85%
INVESTING ACTIVITIES
Capital Expenditures $6.520K $2.370K
YoY Change 175.11% -103.34%
Acquisitions
YoY Change
Other Investing Activities -$476.0K -$493.8K
YoY Change -3.6% 132.37%
Cash From Investing Activities -$482.5K -$496.2K
YoY Change -2.75% 75.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.752M -75.00K
YoY Change -5102.01% 0.0%
NET CHANGE
Cash From Operating Activities -643.0K -395.6K
Cash From Investing Activities -482.5K -496.2K
Cash From Financing Activities 3.752M -75.00K
Net Change In Cash 2.626M -966.7K
YoY Change -371.64% -46.75%
FREE CASH FLOW
Cash From Operating Activities -$643.0K -$395.6K
Capital Expenditures $6.520K $2.370K
Free Cash Flow -$649.5K -$397.9K
YoY Change 63.21% -71.29%

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LogicMark, Inc.
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NV
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KY
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>USE OF ESTIMATES IN THE CONDENSED FINANCIAL STATEMENTS</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s management evaluates these significant estimates and assumptions, including those related to the fair value of acquired assets and liabilities, stock based compensation, income taxes, allowance for doubtful accounts, long-lived assets, and inventories, and other matters that affect the condensed financial statements and disclosures. Actual results could differ from those estimates.</p>
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