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Psychemedics Corp  (PMD)
Other Ticker:  
 
    Sector  Healthcare    Industry Medical Laboratories
   Industry Medical Laboratories
   Sector  Healthcare
 
Price: $3.1200 $-0.04 -1.409%
Day's High: $3.16 Week Perf: 0.97 %
Day's Low: $ 2.99 30 Day Perf: -2.5 %
Volume (M): 12 52 Wk High: $ 6.75
Volume (M$): $ 37 52 Wk Avg: $4.05
Open: $3.16 52 Wk Low: $2.06



 Market Capitalization (Millions $) 18
 Shares Outstanding (Millions) 6
 Employees -
 Revenues (TTM) (Millions $) 22
 Net Income (TTM) (Millions $) -4
 Cash Flow (TTM) (Millions $) -2
 Capital Exp. (TTM) (Millions $) 0

Psychemedics Corp
Psychemedics Corp is a biotechnology company based in the United States. It specializes in the development and commercialization of tests that detect drug abuse and substances in hair samples. The company uses a patented technology called hair analysis to provide accurate and reliable results. This technology allows for a longer detection window compared to urine or blood tests and is considered more difficult to tamper with. Psychemedics Corp primarily serves employers, law enforcement agencies, and schools by providing drug testing services.


   Company Address: 289 Great Road Acton 1720 MA
   Company Phone Number: 206-8220   Stock Exchange / Ticker: NASDAQ PMD
   PMD is expected to report next financial results on March 26, 2024.


   

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Product Service News

Psychemedics Corporation: Pioneering Drug Abuse Testing from Its New Home in Dallas, Texas

Published Tue, Jan 2 2024 4:28 PM UTC

In a strategic move, Psychemedics Corporation, a frontrunner in the field of hair testing for drugs of abuse, has announced the relocation of its corporate headquarters to Dallas, Texas. This significant decision is set to solidify Psychemedics Corporation's position as a global leader in the industry, benefiting both the company and its clients. In this article, we will del...

Management Announcement

Psychemedics Corporation, a leading company specializing in hair testing for substance abuse, is excited to announce the appointment of Daniella Mehalik as its new Vice President - Finance This significant addition to the executive team comes at a time when the company is striving to overcome recent financial challenges and improve its performance within the healthcare sector

Published Mon, Nov 27 2023 2:00 PM UTC

Psychemedics Corporation, a leading company specializing in hair testing for substance abuse, is excited to announce the appointment of Daniella Mehalik as its new Vice President - Finance. This significant addition to the executive team comes at a time when the company is striving to overcome recent financial challenges and improve its performance within the healthcare sect...

Psychemedics Corp

PMD Facing Testing Times as Third Quarter of 2023 Unfolds

Psychemedics Corporation (NASDAQ: PMD), a prominent provider of hair testing for drugs of abuse, has recently released its financial results for the third quarter ending September 30, 2023. Unfortunately, weak orders resulted in significant growth in losses during this period. The company reported a net loss per share of $-0.36, compared to $-0.02 in the same quarter last year. Furthermore, revenue fell by -21.869% to $5.09 million from $6.52 million in the previous year.
These disappointing results contrast with the overall progress observed within the Medical Laboratories industry, which recorded a 4.31% improvement in the third quarter of 2023 compared to the same quarter in 2022. In comparison to the second quarter, revenue grew slightly by 0.633% from $5.06 million, while losses increased from $-0.13 per share.

Psychemedics Corp

Psychemedics Corp Suffers Devastating -22.325% Revenue Drop, Reflecting Dangerous Decline in Demand for Products

Weak orders and declining revenue have led to increased losses for Psychemedics Corp in the second quarter of 2023. The company reported a net loss per share of $-0.13, up from $-0.06 in the previous year, while revenue decreased by -22.325% to $5.06 million. This represents a significant setback for the company, especially when compared to the rest of the Medical Laboratories sector, which experienced a revenue gain of 3.90% during the same period.
The decline in revenue is a concerning trend for Psychemedics Corp, as it indicates a decrease in demand for its products and services. This is further supported by the reduction in accounts receivable, which now stands at $4.0 million. Analysts believe that this decline is directly linked to the slowing demand and weak orders the company is facing.

Psychemedics Corp

Shortfall in PMD Orders Drives Larger Deficit in Fiscal Period Ending March 31, 2023

Lower demand for its products has led to a significant decrease in revenues and a greater deficit for Diminishing Returns in the first quarter of the 2023 earnings season. This has resulted in the company seeing a loss per share of $-0.07, while revenues dipped by -9.972% to reach just $5.86 million year-on-year.
These figures should be concerning for investors because they represent a substantial difference from the previous financial reporting period in which Diminishing Returns posted revenues of $5.70 million and a bottom-line figure of $-0.08 per share.






 

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