Highest-materiality recent filing
Psychemedics executes reverse/forward stock split, plans Nasdaq delisting
Stock split effective Dec 3, 2024: 1-for-5,000 reverse split followed by 5,000-for-1 forward split.
Psychemedics Q3 revenue falls 9% to $5.2M; net loss narrows to $0.5M from $2.1M
Q3 2024 revenue $5.2M, down 9% YoY from $5.7M; nine-month revenue $15.3M, down 11%.
Reverse stock split at ratio between 1:4,000 and 1:6,000; shares below ratio denominator cashed out at $2.35 each.
Psychemedics reports 2023 revenue down 12% to $22.1M, net loss widens to $4.2M
Revenue $22.1M in 2023, down 12% from $25.2M in 2022.
Psychemedics Q3 revenue $5.7M (-12% YoY); net loss widens to $2.1M
Revenue $5.7M vs $6.5M YoY; net loss $(2.1M) or $(0.36)/diluted share vs $(0.02) loss.
Psychemedics grants 300,000 inducement options to new CEO; Nevin elected Chairman
Inducement options to purchase 300,000 shares granted to CEO Brian Hullinger at $4.65/share exercise price.
Psychemedics Q2 revenue down 15% to $5.5M, net loss widens; CEO transition, dividend eliminated
Revenue $5.5M vs $6.5M (-15%); net loss $(726,000) vs $(338,000); EPS $(0.13) vs $(0.06).
Psychemedics settles contract dispute for $500K; records Q2 charge
Settled lawsuit with Transportation Insight LLC for $500,000 paid in three installments (first $166,667 in 30 days, then by Dec 2023 and Dec 2024).
Psychemedics CEO Raymond Kubacki to retire; Brian Hullinger named successor as President/CEO
Raymond Kubacki and director Fred Weinert retire effective Aug 17, 2023; controller William Norris resigns effective July 21.
Psychemedics Q1 revenue down 10% to $5.9M, net loss of $384K; declares $0.07 dividend
Net loss of $384K ($0.07 diluted loss) vs net income of $39K ($0.01 diluted) in Q1 2022.
Psychemedics Q3 revenue down 3% to $6.5M, net loss of $0.1M; declares $0.07 dividend
Revenue $6.5M vs $6.7M YoY (-3%); net loss $0.1M ($0.02/sh) vs net income $0.7M ($0.13/sh).
Psychemedics Q2 2022 revenue up 7% to $6.5M; net loss $0.3M vs net income $0.1M YoY
Revenue $6.5M for Q2 2022, up 7% from $6.1M in Q2 2021; domestic revenue up 13% but Brazil down 65%.
Board increases from 5 to 6 directors; Peter H. Kamin and Darius G. Nevin nominated for election at Aug. 12, 2022 annual meeting.
Psychemedics Q1 revenue up 14% to $6.5M; declares increased dividend of $0.07/share
Revenue $6.5M vs $5.7M (+14% YoY); domestic revenue up 17%, international down 42%.
Psychemedics FY2021 revenue up 17% to $24.9M; net loss narrows to $0.7M from $3.9M
Full-year revenue $24.9M (+17% YoY); net loss $0.7M ($0.12/diluted) vs $3.9M ($0.70) loss in 2020.
Psychemedics settles California wage lawsuit for $1.15M, resumes dividend of $0.05/share
Binding MOU to settle class action over CA wage/hour laws for ~$1.15M; company denies liability.
Psychemedics Q3 revenue up 29% to $6.7M; net income $0.13 EPS vs loss of $0.20
Revenue $6.7M vs $5.2M YoY (+29%); domestic revenue up 27% YoY.
Psychemedics settles contractual dispute for $1.925M, continues strategic review
Agreed to pay customer $1.925M plus $150k from insurers to settle contractual dispute; payment due by Nov 30, 2021.
Psychemedics Q2 2021 revenue up 85% to $6.1M, swings to net income of $0.1M
Revenue $6.1M vs $3.3M in Q2 2020 (+85%); net income $0.1M ($0.02 EPS) vs net loss $2.1M (-$0.37).
Psychemedics receives full forgiveness of $2.18M PPP loan from SBA
PPP loan principal of $2,181,157 plus accrued interest fully forgiven; forgiveness payment date July 1, 2021.
On November 27, 2023, the Psychemedics Corporation (the “Company”) appointed Daniella Mehalik as Vice President – Finance and as Treasurer of the Company.
Effective November 3, 2023, Michael Schaffer ceased serving as Vice President of Laboratory Operations of Psychemedics Corporation (the "Company") and is no longer employed by the Company.
On September 20, 2023, Michael Weisenhoff, Assistant Controller, resigned from such position effective September 29, 2023, to take a position with another company.
Charles Doucot, the Company’s Executive Vice President, will be leaving the Company effective September 15, 2023.
On July 12, 2023, William Norris, the Company’s Controller, resigned from such position, and otherwise as an officer of the Company, effective July 21, 2023 to take a position with a home healthcare technology company.
On July 12, 2023, Fred J. Weinert, a director of the Company, notified the Company that he will retire as a director effective August 17, 2023 coincident with the Annual Meeting of Stockholders on such date.
On July 12, 2023 Raymond C. Kubacki, the Company’s Chairman, Chief Executive Officer and President notified the Company that he will retire as Chairman Chief Executive Officer and President effective August 17, 2023 coincident with the Annual Meeting of Stockholders on such date.
On July 12, 2023, the Company announced Brian Hullinger as the new President and Chief Executive Officer of the Company, to take effect on August 17, 2023.
On July 13, 2023, the Company appointed Michael Weisenhoff, Assistant Controller of the Company, as the Company’s principal financial and accounting manager, to take effect as of July 20, 2023.
He has also been nominated to be elected as a director of the Company at the Annual Meeting of Stockholders to be held on August 17, 2023.
On December 30, 2022, the Psychemedics Corporation (the “Company”) appointed William Norris as Controller of the Company, to take effect as of January 1, 2023.
On July 19, 2022, Andrew Limbek, the Corporation’s Vice President – Controller, resigned from such position, and otherwise as an officer of the Corporation, to take effect as of the close of business on August 12, 2022, in order to pursue an opportunity with an international accounting firm.
Max materiality 0.90 · Median 0.60 · Most common event earnings