Sector: Healthcare | Industry: Healthcare Facilities & Services |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 125 Nagog Park Ste 200 ACTON MA 01720-3451 |
Tel: | N/A |
Website: | https://www.psychemedics.com |
IR: | See website |
Key People | ||
Brian Hullinger President, Chief Executive Officer, Director | Daniella Mehalik Vice President - Finance, Treasurer | Shannon Shoemaker Chief Revenue Officer |
Business Overview |
Psychemedics Corporation is a hair drug testing company. The Company provides testing services for the detection of drugs of abuse through the analysis of hair samples. Its testing methods utilize a patented technology that digests the hair and releases drugs trapped in the hair without destroying the drugs. The Company customizes its enzyme immunoassay (EIA) procedures to drug test hair samples. It provides screening and confirmation by mass spectrometry using industry-accepted practices for cocaine, marijuana, phenylcyclohexyl piperidine (PCP), amphetamines (including ecstasy, eve, and Adderall), opiates (including heroin, hydrocodone, hydromorphone, oxycodone and codeine), synthetic cannabinoids (including K2, Spice, Blaze), benzodiazepines (Xanax, Valium, and Ativan), nicotine, Fentanyl, and alcohol. The Company markets its corporate drug testing services through its own sales force, distributors, and webinars. It markets its home drug testing service, PDT-90, through the Internet. |
Financial Overview |
For the nine months ended 30 September 2023, Psychemedics Corp. revenues decreased 12% to $17.1M. Net loss increased from $396K to $3.2M. Revenues reflect Testing segment decrease of 14% to $14.4M, Shipping Collection Hair segment decrease of 3% to $2.6M. Higher net loss reflects General & Administrative increase of 21% to $5.3M (expense), Settlement increase from $0K to $500K (expense). Dividend per share remained flat at $0.14. |
Employees: | 133 as of Dec 31, 2022 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $16.41M as of Sep 30, 2023 |
Annual revenue (TTM): | $22.80M as of Sep 30, 2023 |
EBITDA (TTM): | -$0.48M as of Sep 30, 2023 |
Net annual income (TTM): | -$3.90M as of Sep 30, 2023 |
Free cash flow (TTM): | -$0.80M as of Sep 30, 2023 |
Net Debt Last Fiscal Year: | N/A |
Shares outstanding: | 5,801,761 as of Nov 6, 2023 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |