Psychemedics Corp Reported FY23 Revenue of $22.1M Vs $25.2M YoY, EPS Loss of $(0.72) Vs $(0.19) YoY, Cash Balance of $2.0M
Portfolio Pulse from Benzinga Newsdesk
Psychemedics Corp reported a decrease in FY23 revenue to $22.1M from $25.2M year-over-year, with an increased EPS loss of $(0.72) compared to $(0.19) YoY. The company's cash balance stood at $2.0M.
March 28, 2024 | 12:24 pm
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NEGATIVE IMPACT
Psychemedics Corp reported a significant decrease in FY23 revenue and a larger EPS loss, with a modest cash balance.
The reported decrease in revenue and widening of EPS loss indicate financial challenges for Psychemedics Corp, likely leading to a negative short-term impact on its stock price. The modest cash balance further underscores the company's current financial strain.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100