Financial Performance - Psychemedics Corporation announced its second quarter results for the period ending June 30, 2024[2] - The company issued a press release detailing its financial performance, which is attached as Exhibit 99.1[2] Risks and Uncertainties - The report includes forward-looking statements that involve risks and uncertainties affecting future results[3]

Core Viewpoint - Psychemedics Corporation reported a decline in revenue and an increase in net loss for the second quarter of 2024 compared to the same period in 2023, attributing the decrease to lower hiring by clients while continuing to adjust operating costs and pursue new markets [2][3]. Financial Performance - Revenue for Q2 2024 was $4.7 million, down 15% from $5.5 million in Q2 2023 [2]. - Net loss for Q2 2024 was $0.8 million, or $0.14 per share, compared to a net loss of $0.7 million, or $0.13 per share, in Q2 2023 [2]. - Revenue for the first half of 2024 was $10.1 million, a decrease of 12% from $11.4 million in the first half of 2023 [3]. - Net loss for the first half of 2024 was $1.5 million, or $0.26 per share, compared to a net loss of $1.1 million, or $0.19 per share, in the same period of 2023 [3]. Company Overview - Psychemedics Corporation is the leading provider of hair testing for drug detection, serving thousands of clients including Fortune 500 companies, police departments, and schools [4]. - The company claims its patented drug testing process is superior to traditional urine testing and other hair testing methods [4].

DALLAS, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Psychemedics Corporation (Nasdaq:PMD) ("Psychemedics" or the "Company") today announced that a Transaction Committee (the "Transaction Committee") of the Board of Directors of the Company (the "Board") comprised of independent directors has recommended, and the Board has approved, a plan to cease the registration of the Company's common stock under the federal securities laws following the completion of a proposed reverse stock split and to delist its shares of comm ...

Positive Rate for Drugs Tested: An overall positive rate of 9.5% underscores the significant presence of drug use in the workplace. Trend Over 5 Years: Over the past five years, our analysis revealed a notable 23% increase in positive drug test rates across various industries. Marijuana, Cocaine, and Opiates: These substances maintained a notable presence, with marijuana being the most commonly detected. Rising Trend in Fentanyl: An alarming increase in fentanyl presence over the last couple of years emphas ...

DALLAS, June 21, 2024 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ: PMD), a global leader in hair testing for drugs of abuse, proudly presents its inaugural Insights Report. This groundbreaking report offers a comprehensive analysis of drug trends in the workplace, drawing insights from a vast dataset of hair samples collected and analyzed in 2023. Positive Rate for Drugs Tested: An overall positive rate of 9.5% underscores the significant presence of drug use in the workplace. Trend Over 5 Years: O ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 or ☐ Transition report pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 for the transition period from _________ to __________ Commission file number: 1-13738 PSYCHEMEDICS CORPORATION (Exact Name of Registrant as Specified in its Charter) | Delaware | | 58-1701987 | | - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (Address of Principal Executive Offices) (Zip Code) (800) 527-7424 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-13738 PSYCHEMEDICS CORPORATION (Exact Name of Registrant as Specified in Its Charter) Delaware 58-1701987 (State or Other Jurisdiction of Incorporation or Organization) 5220 Spring V ...

FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 28, 2024 PSYCHEMEDICS CORPORATION (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation) Delaware 1-13738 58-1701987 (Commission File Number) (I.R.S. Employer Identification No.) 5220 Spring Valley Road, Suite 230 Dallas, Texas 75254 (Address ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2023 or ☐ Transition report pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 for the transition period from _________ to __________ Commission file number: 1-13738 PSYCHEMEDICS CORPORATION (Exact Name of Registrant as Specified in its Charter) Delaware 58-1701987 (State ...