Psychemedics reports Q1 2024 revenue down 9% to $5.4M; net loss widens to $0.7M

PSYCHEMEDICS CORP

Revenue $5.4M vs $5.9M in Q1 2023, a 9% decline.
Net loss $0.7M ($0.12 per share) vs loss of $0.4M ($0.07) in prior year.
CEO cites revenue decrease but remains optimistic; focusing on client acquisition and new market applications.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PSYCHEMEDICS CORP reported the first quarter ended March 31, 2024 results: revenue $5.4 million, net income $0.7 million, EPS $0.12 per share.

Period: the first quarter ended March 31, 2024
Revenue: $5.4 million
Net income: $0.7 million
EPS: $0.12 per share
Result: reported results

Exact text from the filing

The Company’s revenue for the quarter ended March 31, 2024, was $5.4 million versus $5.9 million for the quarter ended March 31, 2023, a decrease of 9%. Net loss for the quarter was $0.7 million, or $0.12 per share, compared to a net loss of $0.4 million, or $.07 per share, for the comparable quarter last year.

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Source: SEC EDGAR

accession 0001171843-24-002873

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