{"schema_version":"secwatch.filing_event.v1","accession":"0001171843-23-005273","form_type":"8-K","ticker":"PMDI","cik":"0000806517","company_name":"PSYCHEMEDICS CORP","filed_at":"2023-08-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.690118+00:00","generated_at":"2026-06-11T15:56:55.833248+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Psychemedics Q2 revenue down 15% to $5.5M, net loss widens; CEO transition, dividend eliminated","bullets":["Revenue $5.5M vs $6.5M (-15%); net loss $(726,000) vs $(338,000); EPS $(0.13) vs $(0.06).","Gross margin improved to 37% from 35% on cost reductions; labor shortage hurt client testing volumes.","CEO Ray Kubacki retiring Aug 17; Brian Hullinger named President and CEO, pending board appointment.","Board eliminated dividend to maximize capital for growth initiatives.","Lawsuit settlement with consultant resulted in non-recurring expense; sum payable over 18 months."],"urls":{"canonical":"https://secwatch.observer/filing/0001171843-23-005273","json":"https://secwatch.observer/filing/0001171843-23-005273.json","markdown":"https://secwatch.observer/filing/0001171843-23-005273.md","text":"https://secwatch.observer/filing/0001171843-23-005273.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/806517/000117184323005273/0001171843-23-005273-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/806517/000117184323005273/f8k_081123.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T15:56:55.833248+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"acb6fce79d0f20613c325b337a5f6a0bdf217bb1","claim":"PSYCHEMEDICS CORP reported second quarter ended June 30, 2023 results: revenue $5.5 million, net income $(726,000) or $(0.13) per diluted share, EPS $(0.13) per diluted share.","evidence_excerpt":"The Company’s revenue for the quarter ended June 30, 2023, was $5.5 million versus $6.5 million for the quarter ended June 30, 2022, a decrease of 15%. Net loss for the quarter ended June 30, 2023, was $(726,000) or $(0.13) per diluted share, versus net loss of $(338,000) or $(0.06) per diluted share, for the comparable period last year.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/806517/000117184323005273/0001171843-23-005273-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"second quarter ended June 30, 2023"},{"label":"Revenue","value":"$5.5 million"},{"label":"Net income","value":"$(726,000) or $(0.13) per diluted share"},{"label":"EPS","value":"$(0.13) per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}