secwatch.observer — SEC 8-K summary
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Issuer:     PSYCHEMEDICS CORP (PMDI)
CIK:        0000806517
Form:       8-K
Filed at:   2024-03-28T23:59:59+00:00
Accession:  0001171843-24-001669
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Psychemedics reports 2023 revenue down 12% to $22.1M, net loss widens to $4.2M
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- Revenue $22.1M in 2023, down 12% from $25.2M in 2022.
- Net loss widened to $4.2M ($0.72 per share) from $1.1M loss ($0.19) in 2022.
- Cash & equivalents fell to $2.0M from $4.8M at end of 2022.
- Operating expenses increased to $11.3M from $10.4M, with G&A rising to $7.2M.
- CEO cites ongoing labor shortage; plans cost reductions and pursuit of new markets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/806517/000117184324001669/0001171843-24-001669-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/806517/000117184324001669/f8k_032824.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-001669

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer