Zacks Small Cap Analysis – LGMK: Expanded Product Suite Contains Predictive, Preventive & Conventional Instruments – Cyber Tech

By M. Marin

NASDAQ:LGMK

READ THE FULL LGMK RESEARCH REPORT

Anticipate new Head of Gross sales as near-term focus shifts to gross sales, advertising and marketing of expanded product suite

LogicMark, Inc. (NASDAQ:LGMK) is remodeling its enterprise from a {hardware} firm producing one-time income from gross sales of private emergency response methods (PERS) to a broader private security firm providing options for a considerably wider goal market. Over time, the corporate expects new services to each diversify and increase its income streams and contribute to rising recurring revenues.

With its expanded product line. LGMK’s near-term focus is predicted to be on gross sales, advertising and marketing and promoting, as LGMK seeks to spice up consciousness and gross sales of its rising suite of services. The corporate has additionally indicated that it’s searching for to rent a brand new head of gross sales to steer these efforts throughout this subsequent section in its transition.

New product options embody superior fall detection, geofencing for reminiscence care, related cloud & caretaker app assist, sensors, AI / ML, predictive expertise…

The corporate has expanded its software program and expertise portfolio and now has 5 PERS options in its suite. Product options embody superior fall detection, geofencing for reminiscence care, related cloud and caretaker app assist, leveraging Massive Knowledge, sensors, AI and ML (machine studying). Most PERS merchandise are centered on reactive expertise, however the firm’s focus is each to enhance reactive expertise versus rivals’, improve repeatedly and supply fewer false optimistic triggers. The corporate’s growing AI expertise is predicted to detect sample modifications that may point out potential for falls (predictive expertise), in addition to well being communications companies reminiscent of drugs reminders (preventative expertise). The corporate believes false optimistic triggers steadily make folks not need to put on PERS units. By incorporating enhanced sensors, algorithms, and machine studying expertise to investigate motion patterns and different related information, the corporate expects to report and even predict the probability of a fall extra precisely than aggressive units that depend on legacy applied sciences. LGMK has indicated that future improvements doubtless will incorporate further applied sciences to observe well being information and supply further companies.

The corporate has a rising mental property place. Since 2021, LGMK has filed 14 patents. The most recent patent was filed simply final week. It pertains to threat and security metrics calculation and evaluation utilizing sensors and algorithms. Different patents cowl AI capabilities, sport idea, environmental sensing, and customized habits monitoring, amongst different options. The corporate believes this IP portfolio will facilitate its alternatives to license its expertise and increase recurring income. The corporate expects to license its software program and believes the patent portfolio can assist it make sure that it’s creating merchandise which can be defensible from rivals because it innovates and creates expertise that it may well license to others.

… Aster expands LGMK goal market to youthful adults, college students, different demographics

➢ Freedom Alert Plus – Wi-Fi and touch-screen-enabled

➢ Freedom Alert Mini – smaller for a extra energetic demographic

➢ Aster – subscription-based software program app concentrating on broad market

In 2023, LGMK launched two new merchandise: Freedom Alert Plus and Freedom Alert Mini. The Freedom Alert Plus is a Wi-Fi and touch-screen-enabled machine. The 4G Freedom Alert Mini is a smaller machine meant to be cell for folks with extra energetic existence. The brand new merchandise every embody month-to-month 24/7 monitoring service by U.S.-based emergency operators and patented multi-sensor fall detection expertise.

Extra just lately, LGMK launched Aster, a software program software that broadens its goal market past the senior demographic and their caregivers. Aster is a subscription-based software program software that’s obtainable on the Apple and Google Play Shops. The LogicMark Bluetooth button could be worn or connected to the person’s pocket, key or different handy location and paired with Aster to offer quick-access to Aster. The corporate believes Aster illustrates how nicely it may well leverage its Caring Platform as a Service (CPaaS) mannequin to launch new Web of Issues (IoT) options to assist guarantee security for a broadening group of customers and to allow caregivers and household to observe the well being and security of family members remotely.

Aster provides emergency alert characteristic if person fails to verify in as private security considerations rise…

The corporate envisions a broad marketplace for Aster, starting from school college students involved about their on-campus safety, actual property brokers displaying homes alone, energetic seniors and extra. based on a current Gallup ballot, considerations about private security are at a 30-year excessive within the U.S. About 40% of respondents to Gallup’s annual Crime ballot in October 2023 point out considerations about (responded sure) strolling at night time close to their house. based on Gallup analysis, rising numbers of People imagine crime has worsened over the previous 12 months and price it as a significant issue. This rising concern inhibits folks from quite a lot of actions, together with visiting cities and exercising outside. With Aster, LogicMark goals to reinforce safety for any demographic group. The corporate additionally believes that private questions of safety change into more and more extra advanced because the care financial system evolves. The Aster app supplies a software program resolution that permits customers to stay related to emergency contacts and likewise simply contact emergency companies when wanted.

The Aster app provides a “Comply with Me” characteristic that permits customers to attach their cell phone calendars and share choose occasions in order that family and friends know the place they’re. The app sends automated texts relating to occasion begin instances and if the person fails to verify in on the occasion, the app triggers an emergency alert that robotically sends texts to the person’s followers and likewise notifies a reside agent in emergency conditions. The person’s emergency followers and first responders will get a textual content / alert with a Google Maps hyperlink that signifies the person’s GPS location. In an emergency, a LogicMark reside agent can be notified and can name the person. If there isn’t a reply or request for assist, the agent can notify emergency companies. Aster is a subscription-based app.

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