Psychemedics (PMDI) 10-Q11 May 232023 Q1 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2023	May 08, 2023
Document Information [Line Items]
Entity Central Index Key	0000806517
Entity Registrant Name	PSYCHEMEDICS CORP
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	1-13738
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	58-1701987
Entity Address, Address Line One	289 Great Road
Entity Address, City or Town	Acton
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01720
City Area Code	978
Local Phone Number	206-8220
Title of 12(b) Security	Common stock. $0.005 par value
Trading Symbol	PMD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		5,721,147

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current Assets:
Cash	$ 4,380	$ 4,750
Accounts receivable, net of allowance for doubtful accounts of $73 at March 31, 2023, and $87 at December 31, 2022	4,058	3,739
Prepaid expenses and other current assets	1,088	1,136
Income tax receivable	9	339
Total Current Assets	9,535	9,964
Fixed assets, net of accumulated amortization and depreciation of $22,428 at March 31, 2023, and $21,964 at December 31, 2022	4,150	4,573
Other assets	840	823
Net deferred tax assets	850	691
Operating lease right-of-use assets	2,532	2,681
Total Assets	17,907	18,732
Current Liabilities:
Accounts payable	785	448
Accrued expenses	3,632	3,939
Current portion of long-term debt	297	294
Current portion of operating lease liabilities	1,076	1,037
Total Current Liabilities	5,790	5,718
Long-term debt	230	305
Long-term portion of operating lease liabilities	1,721	1,938
Total Liabilities	7,741	7,961
Commitments and Contingencies (Note 5)
Shareholders' Equity:
Common stock, $0.005 par value; 50,000 shares authorized; 6,354 and 6,349 shares issued and 5,686 and 5,681 shares outstanding, respectively	32	32
Additional paid-in capital	34,452	34,275
Accumulated deficit	(12,602)	(11,820)
Less - Treasury stock, at cost, 668 shares	(10,082)	(10,082)
Accumulated other comprehensive loss	(1,634)	(1,634)
Total Shareholders' Equity	10,166	10,771
Total Liabilities and Shareholders' Equity	$ 17,907	$ 18,732

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Allowance for doubtful accounts	$ 73	$ 87
Accumulated depreciation and amortization	$ 22,428	$ 21,964
Preferred stock, par value (in dollars per share)	$ 0.005	$ 0.005
Preferred stock, shares authorized (in shares)	873	873
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.005	$ 0.005
Common stock, shares authorized (in shares)	50,000	50,000
Common stock, shares issued (in shares)	6,354	6,349
Common stock, shares outstanding (in shares)	5,686	5,681
Treasury stock, shares (in shares)	668	668

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues	$ 5,859	$ 6,508
Cost of revenues	3,654	4,067
Gross profit	2,205	2,441
Operating Expenses:
General & administrative	1,646	1,327
Marketing & selling	789	806
Research & development	298	318
Total Operating Expenses	2,733	2,451
Operating loss	(528)	(10)
Other (expense) income, net	(5)	66
(Loss) income before (benefit from) provision for income taxes	(533)	56
(Benefit from) provision for income taxes	(149)	17
Net (loss) income	$ (384)	$ 39
Basic net (loss) income per share (in dollars per share)	$ (0.07)	$ 0.01
Diluted net (loss) income per share (in dollars per share)	(0.07)	0.01
Dividends declared per share (in dollars per share)	$ 0.07	$ 0

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2021	6,257		668
Balance at Dec. 31, 2021	$ 31	$ 33,478	$ (10,082)	$ (9,550)	$ (1,634)	$ 12,243
Shares issued – vested (in shares)	2		0
Stock compensation expense	$ 0	179	$ 0	0	0	179
Net income (loss)	$ 0	0	$ 0	39	0	39
Shares issued – vested (in shares)	2		0
Balance (in shares) at Mar. 31, 2022	6,259		668
Balance at Mar. 31, 2022	$ 31	33,657	$ (10,082)	(9,511)	(1,634)	12,461
Balance (in shares) at Dec. 31, 2022	6,349		668
Balance at Dec. 31, 2022	$ 32	34,275	$ (10,082)	(11,820)	(1,634)	10,771
Shares issued – vested (in shares)	5		0
Shares issued – vested	$ 0	0	$ 0	0	0	0
Stock compensation expense		177	0	0	0	177
Cash dividends declared	0	0	0	(398)	0	(398)
Net income (loss)	$ 0	0	$ 0	(384)	0	(384)
Shares issued – vested (in shares)	5		0
Balance (in shares) at Mar. 31, 2023	6,354		668
Balance at Mar. 31, 2023	$ 32	$ 34,452	$ (10,082)	$ (12,602)	$ (1,634)	$ 10,166

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals)	3 Months Ended
	Mar. 31, 2023 $ / shares
Dividends declared, per share (in dollars per share)	$ 0.07

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (384)	$ 39
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	479	628
ROU asset amortization	235	232
Stock-based compensation	177	179
Changes in operating assets and liabilities:
Accounts receivable	(319)	(588)
Prepaid expenses and other current assets	48	466
Income tax receivable	330	17
Net deferred tax asset	(159)	0
Accounts payable	337	(272)
Operating lease liabilities	(264)	(213)
Accrued expenses	(705)	(143)
Net cash (used in) provided by operating activities	(225)	345
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of equipment and leasehold improvements	(20)	(10)
Cost of internally developed software	(21)	(33)
Other assets	(32)	7
Net cash used in investing activities	(73)	(36)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of equipment financing	(72)	(174)
Net cash used in financing activities	(72)	(174)
Net (decrease) increase in cash	(370)	135
Cash, beginning of period	4,750	1,992
Cash, end of period	4,380	2,127
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	5	10
Cash paid for operating leases	291	269
Right-of-use assets acquired through operating leases	$ 86	$ 0

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
Note 1 - Basis of Presentation	Mar. 31, 2023
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Basis of Presentation The interim condensed consolidated financial statements of Psychemedics Corporation (the “Company”) presented herein, have been prepared pursuant to the rules of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10 not December 31, 2022, 2022 10 “10 The accompanying condensed consolidated financial statements are unaudited but, in the opinion of management, include all adjustments necessary for a fair presentation of results for these interim periods. The condensed consolidated balance sheet as of December 31, 2022, not The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The results of operations for the three March 31, 2023, may not may December 31, 2023, Unless the context requires otherwise, the terms “we”, “us”, “our”, or “the Company” refer to Psychemedics Corporation and its wholly-owned consolidated subsidiaries.

Note 2 - Financial Information

Note 2 - Financial Information	3 Months Ended
Note 2 - Financial Information	Mar. 31, 2023
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	2. Financial Information Liquidity and Management s Plans At March 31, 2023, 12 may not no Accounts Receivable The Company believes its allowance for credit losses related to its accounts receivable remained adequate as of March 31, 2023, not Recent Accounting Pronouncements In June 2016, No. 2016 13, Financial Instruments Credit Losses (Topic 326 2016 13” 2016 13 first 2023 2016 13 not

Note 3 - Stock-based Compensati

Note 3 - Stock-based Compensation	3 Months Ended
Note 3 - Stock-based Compensation	Mar. 31, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	3. Stock-Based Compensation The Company’s 2006 March 31, 2023, Stock-based compensation is measured at the grant date based on the fair value of the award and is recognized as an expense over the requisite service period (generally the vesting period of the equity grant). The compensation cost charged against income is included in cost of revenues and operating expenses as follows (in thousands): Three Months Ended March 31, 2023 2022 Stock-based compensation related to: Stock option grants $ 20 $ 53 Stock unit awards 157 126 Total stock-based compensation $ 177 $ 179 There was no three March 31, 2023, 2022. A summary of the Company’s stock option activity for the three March 31, 2023, Weighted Average Weighted Average Remaining Aggregate Number of Exercise Price Contractual Life Intrinsic Shares Per Share (years) Value (1) Outstanding, December 31, 2022 508 $ 14.19 5.1 $ 25 Canceled ( 64 ) $ 14.70 Outstanding, March 31, 2023 444 $ 14.09 4.8 $ 33 Exercisable, March 31, 2023 402 $ 14.67 4.6 $ 17 ( 1 Intrinsic value is calculated based on the amount by which the closing market value of the Company’s stock exceeded the exercise price of the underlying options, multiplied by the number of shares. A summary of the Company’s stock unit award (“SUA”) activity for the three March 31, 2023, Number of Shares Weighted Average Grant-Date Fair Value Per Share Outstanding & Unvested, December 31, 2022 238 $ 6.10 Converted to common stock (5 ) $ 6.36 Cancelled (2 ) $ 6.19 Forfeited (9 ) $ 5.90 Outstanding & Unvested, March 31, 2023 222 $ 6.10 As of March 31, 2023, March 31, 2023,

Note 4 - Basic and Diluted Net

Note 4 - Basic and Diluted Net (Loss)/Income Per Share	3 Months Ended
Note 4 - Basic and Diluted Net (Loss)/Income Per Share	Mar. 31, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	4. Basic and Diluted Net (Loss)/Income Per Share Basic net (loss)/income per share is computed by dividing net (loss)/income by the weighted average number of common shares outstanding during the period. Diluted net (loss)/income per share is computed by dividing net (loss)/income by the weighted average number of common and dilutive common equivalent shares outstanding during the period when the effect is dilutive. The number of dilutive common equivalent shares outstanding during the period was determined in accordance with the treasury-stock method. Common equivalent shares consisted of common stock issuable upon the exercise of outstanding options and common stock issuable upon the vesting of outstanding, unvested SUAs. Basic and diluted weighted average common shares outstanding for the three March 31, 2023, 2022 Three Months Ended March 31, 2023 2022 Weighted average common shares outstanding, basic 5,685 5,590 Dilutive common equivalent shares - 56 Weighted average common shares outstanding, diluted 5,685 5,646 The computation of diluted earnings per share for the three March 31, 2023, 2022 three March 31, 2023, 2022,

Note 5 - Commitments and Contin

Note 5 - Commitments and Contingencies	3 Months Ended
Note 5 - Commitments and Contingencies	Mar. 31, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	5. Commitments and Contingencies From time to time, the Company is a party to various lawsuits, claims and other legal proceedings that arise in the ordinary course of business. When the Company becomes aware of a claim or potential claim, it assesses the likelihood of any loss or exposure. In accordance with authoritative guidance, the Company records loss contingencies in its financial statements only for matters in which losses are probable and can be reasonably estimated. The Company continuously assesses the potential liability related to the Company’s pending litigation and revises its estimates when additional information becomes available. Although it is difficult to predict the ultimate outcome of these cases, management believes, that any ultimate liability would not Settlements As previously reported in the 10 December 6, 2021, No. 2:20 06624 The Company has accrued $1.2 million as of March 31, 2023

Note 6 - Operating Leases

Note 6 - Operating Leases	3 Months Ended
Note 6 - Operating Leases	Mar. 31, 2023
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	6. Operating Leases The Company has five one not As of March 31, 2023, March 31, 2023, March 31, 2023, three March 31, 2023, Maturities and balance sheet presentation of the Company’s lease liabilities for all operating leases as of March 31, 2023, April 1, 2023, through December 31, 2023 $ 876 2024 1,106 2025 564 2026 460 Total lease payments 3,006 Less: interest (209 ) Present value of lease liabilities $ 2,797 Current operating lease liabilities $ 1,076 Long-term operating lease liabilities 1,721 $ 2,797

Note 7 - Debt and Other Financi

Note 7 - Debt and Other Financing Arrangements	3 Months Ended
Note 7 - Debt and Other Financing Arrangements	Mar. 31, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	7. Debt and Other Financing Arrangements On March 20, 2014, August 8, 2014, September 15, 2015, October 30, 2017, December 2, 2019. 10 The weighted average interest rate on outstanding debt under the Loan Agreement was 3.8% for the three March 31, 2023. three March 31, 2023. March 31, 2023, March 31, 2023. The annual principal repayment requirements for debt obligations as of March 31, 2023, April 1, 2023, through December 31, 2023 $ 222 2024 305 Long-term debt from equipment financing 527 Less: current portion of long-term debt from equipment financing (297 ) Long-term debt from equipment financing, net of current portion $ 230

Note 8 - Revenue

Note 8 - Revenue	3 Months Ended
Note 8 - Revenue	Mar. 31, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	8. Revenue The table below disaggregates our external revenue by major source (in thousands): Three Months Ended March 31, 2023 2022 Testing $ 4,938 $ 5,724 Shipping/Collection (hair) 898 750 Other 23 34 Total Revenue $ 5,859 $ 6,508

Note 9 - Significant Customers

Note 9 - Significant Customers	3 Months Ended
Note 9 - Significant Customers	Mar. 31, 2023
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	9. Significant Customers The Company had no customers that represented over 10% three March 31, 2023, 2022. March 31, 2023, 2022,

Note 10 - Subsequent Events

Note 10 - Subsequent Events	3 Months Ended
Note 10 - Subsequent Events	Mar. 31, 2023
Notes to Financial Statements
Subsequent Events [Text Block]	10. Subsequent Events On May 9, 2023, June 8, 2023, May 25, 2023.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Mar. 31, 2023
Accounting Policies [Abstract]
Liquidity and Management's Plan [Policy Text Block]	Liquidity and Management s Plans At March 31, 2023, 12 may not no
Accounts Receivable [Policy Text Block]	Accounts Receivable The Company believes its allowance for credit losses related to its accounts receivable remained adequate as of March 31, 2023, not
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In June 2016, No. 2016 13, Financial Instruments Credit Losses (Topic 326 2016 13” 2016 13 first 2023 2016 13 not

Note 3 - Stock-based Compensa_2

Note 3 - Stock-based Compensation (Tables)	3 Months Ended
Note 3 - Stock-based Compensation (Tables)	Mar. 31, 2023
Notes Tables
Share-Based Payment Arrangement, Cost by Plan [Table Text Block]	Three Months Ended March 31, 2023 2022 Stock-based compensation related to: Stock option grants $ 20 $ 53 Stock unit awards 157 126 Total stock-based compensation $ 177 $ 179
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Weighted Average Weighted Average Remaining Aggregate Number of Exercise Price Contractual Life Intrinsic Shares Per Share (years) Value (1) Outstanding, December 31, 2022 508 $ 14.19 5.1 $ 25 Canceled ( 64 ) $ 14.70 Outstanding, March 31, 2023 444 $ 14.09 4.8 $ 33 Exercisable, March 31, 2023 402 $ 14.67 4.6 $ 17
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Number of Shares Weighted Average Grant-Date Fair Value Per Share Outstanding & Unvested, December 31, 2022 238 $ 6.10 Converted to common stock (5 ) $ 6.36 Cancelled (2 ) $ 6.19 Forfeited (9 ) $ 5.90 Outstanding & Unvested, March 31, 2023 222 $ 6.10

Note 4 - Basic and Diluted Ne_2

Note 4 - Basic and Diluted Net (Loss)/Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2023 2022 Weighted average common shares outstanding, basic 5,685 5,590 Dilutive common equivalent shares - 56 Weighted average common shares outstanding, diluted 5,685 5,646

Note 6 - Operating Leases (Tabl

Note 6 - Operating Leases (Tables)	3 Months Ended
Note 6 - Operating Leases (Tables)	Mar. 31, 2023
Notes Tables
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	April 1, 2023, through December 31, 2023 $ 876 2024 1,106 2025 564 2026 460 Total lease payments 3,006 Less: interest (209 ) Present value of lease liabilities $ 2,797 Current operating lease liabilities $ 1,076 Long-term operating lease liabilities 1,721 $ 2,797

Note 7 - Debt and Other Finan_2

Note 7 - Debt and Other Financing Arrangements (Tables)	3 Months Ended
Note 7 - Debt and Other Financing Arrangements (Tables)	Mar. 31, 2023
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	April 1, 2023, through December 31, 2023 $ 222 2024 305 Long-term debt from equipment financing 527 Less: current portion of long-term debt from equipment financing (297 ) Long-term debt from equipment financing, net of current portion $ 230

Note 8 - Revenue (Tables)

Note 8 - Revenue (Tables)	3 Months Ended
Note 8 - Revenue (Tables)	Mar. 31, 2023
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended March 31, 2023 2022 Testing $ 4,938 $ 5,724 Shipping/Collection (hair) 898 750 Other 23 34 Total Revenue $ 5,859 $ 6,508

Note 2 - Financial Information

Note 2 - Financial Information (Details Textual) $ in Millions	Mar. 31, 2023 USD ($)
Cash	$ 4.4

Note 3 - Stock-based Compensa_3

Note 3 - Stock-based Compensation (Details Textual) - Incentive Plan 2006 [Member] shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)	321
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	912
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount \| $	$ 941
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	2 years 2 months 12 days

Note 3 - Stock-based Compensa_4

Note 3 - Stock-based Compensation - Compensation Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based compensation	$ 177	$ 179
Share-Based Payment Arrangement, Option [Member]
Share-based compensation	20	53
Stock Unit Awards [Member]
Share-based compensation	$ 157	$ 126

Note 3 - Stock-based Compensa_5

Note 3 - Stock-based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended	12 Months Ended
		Mar. 31, 2023	Dec. 31, 2022
Outstanding (in shares)		508
Outstanding, weighted average exercise price (in dollars per share)		$ 14.19
Outstanding, weighted average remaining contractual life (Year)		4 years 9 months 18 days	5 years 1 month 6 days
Outstanding, aggregate intrinsic value	[1]	$ 33	$ 25
Canceled (in shares)		(64)
Canceled (in dollars per share)		$ 14.70
Outstanding (in shares)		444	508
Outstanding, weighted average exercise price (in dollars per share)		$ 14.09	$ 14.19
Exercisable (in shares)		402
Exercisable, weighted average exercise price (in dollars per share)		$ 14.67
Exercisable, weighted average remaining contractual life (Year)		4 years 7 months 6 days
Exercisable, aggregate intrinsic value	[1]	$ 17

[1]Intrinsic value is calculated based on the amount by which the closing market value of the Company’s stock exceeded the exercise price of the underlying options, multiplied by the number of shares.

Note 3 - Stock-based Compensa_6

Note 3 - Stock-based Compensation - Nonvested Award Activity (Details) - Stock Unit Award [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Outstanding & Unvested at beginning of period (in shares) \| shares	238
Outstanding & Unvested, beginning of period, weighted average price per share (in dollars per share) \| $ / shares	$ 6.10
Converted to common stock (in shares) \| shares	(5)
Converted to common stock, weighted average price per share (in dollars per share) \| $ / shares	$ 6.36
Cancelled (in shares) \| shares	(2)
Cancelled, weighted average price per share (in dollars per share) \| $ / shares	$ 6.19
Forfeited (in shares) \| shares	(9)
Forfeited, weighted average price per share (in dollars per share) \| $ / shares	$ 5.90
Outstanding & Unvested at end of period (in shares) \| shares	222
Outstanding & Unvested, end of period, weighted average price per share (in dollars per share) \| $ / shares	$ 6.10

Note 4 - Basic and Diluted Ne_3

Note 4 - Basic and Diluted Net (Loss)/Income Per Share (Details Textual) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	620	545

Note 4 - Basic and Diluted Ne_4

Note 4 - Basic and Diluted Net (Loss)/Income Per Share - Basic and Diluted Weighted Average Common Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Weighted average common shares outstanding, basic (in shares)	5,685	5,590
Dilutive common equivalent shares (in shares)	0	56
Weighted average common shares outstanding, diluted (in shares)	5,685	5,646

Note 5 - Commitments and Cont_2

Note 5 - Commitments and Contingencies (Details Textual) $ in Millions	Mar. 31, 2023 USD ($)
Enma Sagastume v. Psychemedics Corporation [Member]
Loss Contingency Accrual	$ 1.2

Note 6 - Operating Leases (Deta

Note 6 - Operating Leases (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Operating Lease, Right-of-Use Asset	$ 2,532	$ 2,681
Operating Lease, Liability	$ 2,797
Operating Lease, Weighted Average Discount Rate, Percent	3.90%
Operating Lease, Weighted Average Remaining Lease Term (Year)	2 years 10 months 24 days
Operating Lease, Expense	$ 262

Note 6 - Operating Leases - Mat

Note 6 - Operating Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
April 1, 2023, through December 31, 2023	$ 876
2024	1,106
2025	564
2026	460
Total lease payments	3,006
Less: interest	(209)
Present value of lease liabilities	2,797
Current operating lease liabilities	1,076	$ 1,037
Long-term operating lease liabilities	1,721	$ 1,938
Operating Lease, Liability	$ 2,797

Note 7 - Debt and Other Finan_3

Note 7 - Debt and Other Financing Arrangements (Details Textual) - Banc of America Leasing and Capital [Member] - Equipment Loan Arrangement [Member] - Line of Credit [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Debt, Weighted Average Interest Rate	3.80%
Interest Expense	$ 5
Long-Term Debt, Weighted Average Interest Rate, at Point in Time	3.80%
Long-Term Debt	$ 526

Note 7 - Debt and Other Finan_4

Note 7 - Debt and Other Financing Arrangements - Schedule of Debt Repayments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Less: current portion of long-term debt from equipment financing	$ (297)	$ (294)
Long-term debt from equipment financing, net of current portion	230	$ 305
Equipment Loan Arrangement [Member]
April 1, 2023, through December 31, 2023	222
2024	305
Long-term debt from equipment financing	527
Less: current portion of long-term debt from equipment financing	(297)
Long-term debt from equipment financing, net of current portion	$ 230

Note 8 - Revenue - Revenue by M

Note 8 - Revenue - Revenue by Major Source (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues	$ 5,859	$ 6,508
Testing [Member]
Revenues	4,938	5,724
Shipping/Collection (Hair) [Member]
Revenues	898	750
Other Revenue [Member]
Revenues	$ 23	$ 34

Note 9 - Significant Customers

Note 9 - Significant Customers (Details Textual) - Customer Concentration Risk [Member]	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue Benchmark [Member]
Number of Major Customers	0	0
Accounts Receivable [Member]
Number of Major Customers	0	1
Accounts Receivable [Member] \| Customer One [Member]
Concentration Risk, Percentage	16%	17%

Note 10 - Subsequent Events (De

Note 10 - Subsequent Events (Details Textual) - $ / shares		3 Months Ended
Note 10 - Subsequent Events (Details Textual) - $ / shares	May 09, 2023	Mar. 31, 2023
Common Stock, Dividends, Per Share, Declared (in dollars per share)		$ 0.07
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.07