Psychemedics Q2 revenue down 15% to $4.7M; net loss widens to $0.14/sh

PSYCHEMEDICS CORP

Q2 2024 revenue $4.7M vs $5.5M YoY (-15%); net loss $0.8M ($0.14/sh) vs $0.7M ($0.13/sh).
H1 2024 revenue $10.1M vs $11.4M YoY (-12%); net loss $1.5M ($0.26/sh) vs $1.1M ($0.19/sh).
CEO cites continued lower client hiring as primary driver of revenue decline.
Company adjusting operating costs while seeking new markets and applications.

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