Psychemedics Corp. (OQ:PMD)

Business Focus: Medical & Diagnostic Laboratories

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
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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

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