Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | May 06, 2021 | |
Document Information [Line Items] | ||
Entity Registrant Name | PSYCHEMEDICS CORP | |
Entity Central Index Key | 0000806517 | |
Trading Symbol | pmd | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 5,536,493 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common stock. $0.005 par value |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Current Assets: | ||
Cash and cash equivalents | $ 2,190 | $ 2,833 |
Accounts receivable, net of allowance for doubtful accounts of $51 in 2021 and $37 in 2020 | 4,020 | 3,356 |
Prepaid expenses and other current assets | 1,898 | 914 |
Income tax receivable | 2,519 | 2,495 |
Total Current Assets | 10,627 | 9,598 |
Fixed assets, net of accumulated amortization and depreciation of $17,609 at March 31, 2021 and $16,937 at December 31, 2020 | 8,616 | 9,231 |
Other assets | 882 | 888 |
Operating lease right-of-use assets | 4,255 | 4,286 |
Total Assets | 24,380 | 24,003 |
Current Liabilities: | ||
Accounts payable | 1,109 | 577 |
Accrued expenses | 1,567 | 1,801 |
Current portion of long-term debt | 691 | 688 |
Current portion of operating lease liabilities | 963 | 875 |
Total Current Liabilities | 4,330 | 3,941 |
Long-term debt | 3,270 | 3,444 |
Deferred tax liabilities, long-term | 211 | 211 |
Long-term portion of operating lease liabilities | 3,757 | 3,895 |
Total Liabilities | 11,568 | 11,491 |
Commitments and Contingencies (Note 5) | ||
Shareholders' Equity: | ||
Preferred stock, $0.005 par value, 873 shares authorized, no shares issued or outstanding | ||
Common stock, $0.005 par value; 50,000 shares authorized 6,205 shares issued at March 31, 2021 and December 31, 2020, respectively, and 5,537 shares outstanding at March 31, 2021 and December 31, 2020, respectively | 31 | 31 |
Additional paid-in capital | 33,020 | 32,803 |
Accumulated deficit | (8,523) | (8,606) |
Less - Treasury stock, at cost, 668 shares | (10,082) | (10,082) |
Accumulated other comprehensive loss | (1,634) | (1,634) |
Total Shareholders' Equity | 12,812 | 12,512 |
Total Liabilities and Shareholders' Equity | $ 24,380 | $ 24,003 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Allowance for doubtful accounts | $ 51 | $ 37 |
Accumulated amortization and depreciation | $ 17,609,000 | $ 16,937,000 |
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) | 6,205 | 6,205 |
Common stock, shares outstanding (in shares) | 5,537 | 5,537 |
Treasury stock, shares (in shares) | 668 | 668 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Revenues | $ 5,713 | $ 7,537 |
Cost of revenues | 3,145 | 4,809 |
Gross profit | 2,568 | 2,728 |
Operating Expenses: | ||
General & administrative | 1,529 | 1,533 |
Marketing & selling | 642 | 1,106 |
Research & development | 280 | 331 |
Total Operating Expenses | 2,451 | 2,970 |
Operating income (loss) | 117 | (242) |
Other expense | (14) | (73) |
Net income (loss) before provision for (benefit from) income taxes | 103 | (315) |
Provision for (benefit from) income taxes | 20 | (156) |
Net income (loss) | 83 | (159) |
Other Comprehensive Income (Loss): | ||
Foreign currency translation | (23) | |
Total comprehensive income (loss) | $ 83 | $ (182) |
Basic net income (loss) per share (in dollars per share) | $ 0.01 | $ (0.03) |
Diluted net income (loss) per share (in dollars per share) | 0.01 | (0.03) |
Dividends declared per share (in dollars per share) | $ 0.18 |
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 [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2019 | 6,185 | 668 | ||||
Balance at Dec. 31, 2019 | $ 31 | $ 32,249 | $ (10,082) | $ (3,754) | $ (1,624) | $ 16,820 |
Stock compensation expense | 163 | 163 | ||||
Net income (loss) | (159) | (159) | ||||
Cash dividends ($0.18 per share) | (993) | (993) | ||||
Foreign currency translation, net of taxes | (23) | (23) | ||||
Balance (in shares) at Mar. 31, 2020 | 6,185 | 668 | ||||
Balance at Mar. 31, 2020 | $ 31 | 32,412 | $ (10,082) | (4,906) | (1,647) | 15,808 |
Balance (in shares) at Dec. 31, 2020 | 6,205 | 668 | ||||
Balance at Dec. 31, 2020 | $ 31 | 32,803 | $ (10,082) | (8,606) | (1,634) | 12,512 |
Stock compensation expense | 217 | 217 | ||||
Net income (loss) | 83 | 83 | ||||
Balance (in shares) at Mar. 31, 2021 | 6,205 | 668 | ||||
Balance at Mar. 31, 2021 | $ 31 | $ 33,020 | $ (10,082) | $ (8,523) | $ (1,634) | $ 12,812 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Dividends declared per share (in dollars per share) | $ 0.18 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income (loss) | $ 83 | $ (159) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation and amortization | 687 | 610 |
ROU asset amortization | 224 | 264 |
Deferred income taxes | (55) | |
Loss on sale of fixed assets | 94 | |
Stock-based compensation | 217 | 163 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (664) | 222 |
Prepaid expenses and other current assets | (984) | 108 |
Income tax receivable | (24) | (209) |
Accounts payable | 525 | 570 |
Operating lease liabilities | (243) | (238) |
Accrued expenses | (234) | (1,783) |
Net cash used in operating activities | (413) | (413) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from sale of fixed assets | 140 | |
Purchases of equipment and leasehold improvements | (7) | (401) |
Cost of internally developed software | (43) | (65) |
Other assets | (9) | (7) |
Net cash used in investing activities | (59) | (333) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Payments of equipment financing | (171) | (169) |
Cash dividends paid | (993) | |
Net cash used in financing activities | (171) | (1,162) |
Effect of exchange rate changes on cash and cash equivalents | (44) | |
Net decrease in cash and cash equivalents | (643) | (1,952) |
Cash and cash equivalents, beginning of period | 2,833 | 7,283 |
Cash and cash equivalents, end of period | 2,190 | 5,331 |
Supplemental Disclosures of Cash Flow Information: | ||
Cash paid for income taxes | 169 | |
Cash paid for interest | 14 | 23 |
Cash paid for operating leases | 269 | 238 |
Right-of-use assets acquired through operating leases | 193 | |
Purchases of equipment through accounts payable and accrued liabilities | $ 7 | $ 386 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 3 Months Ended |
Mar. 31, 2021 | |
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, 2020, 2020 10 “10 The condensed consolidated balance sheet as of March 31, 2021, three March 31, 2021 2020, three March 31, 2021 2020 three March 31, 2021 2020 December 31, 2020 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, 2021 may not may December 31, 2021, 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 - COVID-19 Pandemic
Note 2 - COVID-19 Pandemic | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Effect of Covid-19 Pandemic [Text Block] | 2. COVID- 19 The outbreak of coronavirus (“COVID- 19” 19 19's The Coronavirus Aid, Relieve and Economic Security Act (“CARES”) Act, enacted on March 27, 2020 December 2020 ( 19. 19 $0.8 three March 31, 2021, 2020 2: Liquidity and Management's Plans At March 31, 2021, $2.2 12 may not no Accounts Receivable We believe our allowance for credit losses related to our accounts receivable remained adequate as of March 31, 2021, not Risk and Uncertainties The duration and severity of COVID- 19 not To help mitigate potential effects of the pandemic on the Company, there are several safety measures that have been implemented to ensure the safety of our employees as well as maintaining our staff and business continuity. The Company is providing personal protection equipment and implemented policies at our laboratory including temperature checks and physical distancing. |
Note 3 - Share-based Compensati
Note 3 - Share-based Compensation | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 3. Share-Based Compensation The Company's 2006 March 31, 2021, 42 Share-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, 2021 2020 Share-based compensation related to: Stock option grants $ 145 $ 124 Restricted Stock Unit awards 72 39 Total share-based compensation $ 217 $ 163 There was no three March 31, 2021 2020. A summary of the Company's stock option activity for the three March 31, 2021 Weighted Average Weighted Average Remaining Aggregate Number of Exercise Price Contractual Life Intrinsic Shares Per Share (years) Value (1) Outstanding, December 31, 2020 604 $ 14.31 7.0 $ - Granted - Exercised - $ - Forfeited (29 ) $ 3.47 Outstanding, March 31, 2021 575 $ 14.26 6.8 $ - Exercisable, March 31, 2021 424 $ 14.55 6.4 $ 72 ( 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, 2021 Number of Shares Weighted Average Price per Share (2) Weighted Average Fair Value (2) Outstanding & Unvested, December 31, 2020 166 $ 4.50 $ 745 Granted 3 $ 6.40 $ 19 Converted to common stock - - $ - Cancelled - - $ - Forfeited - - $ - Outstanding & Unvested, March 31, 2021 169 $ 4.54 $ 768 ( 2 Weighted average price per share is the weighted grant price based on the closing market price of each of the stock grants related to each grant of stock unit awards. The weighted average fair value is the weighted average share price times the number of shares. As of March 31, 2021, 790 March 31, 2021, $966 2.9 |
Note 4 - Basic and Diluted Net
Note 4 - Basic and Diluted Net Income (Loss) Per Share | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 4. Basic and Diluted Net Income (Loss) Per Share Basic net income (loss) per share is computed by dividing net income (or loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (or loss) 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, 2021and 2020 Three Months Ended March 31, 2021 2020 Weighted average common shares outstanding, basic 5,537 5,517 Dilutive common equivalent shares 107 - Weighted average common shares outstanding, diluted 5,644 5,517 The computation of diluted earnings (loss) per share for the three March 31, 2021and 2020 three March 31, 2021, 568 |
Note 5 - Commitments and Contin
Note 5 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 5. Commitments and Contingencies The Company is subject to legal proceedings and claims which arise in the ordinary course of its business. While the ultimate outcome of individual legal claims is inherently unpredictable, we believe that the final resolution of any pending actions will not |
Note 6 - Operating Leases
Note 6 - Operating Leases | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 6. Operating Leases The Company has five no not not As of March 31, 2021, $4.3 $4.7 842. March 31, 2021 3.9%. March 31, 2021 4.8 three March 31, 2021 2020 $268 $306 Maturities and balance sheet presentation of the Company's lease liabilities for all operating leases as of March 31, 2021is 2021 $ 828 2022 1,129 2023 1,120 2024 1,034 2025 592 2026 460 Total Lease Payments 5,163 Less: Interest expense (443 ) Present value of lease liabilities $ 4,720 Current operating lease liabilities $ 963 Long-term operating lease liabilities 3,757 $ 4,720 |
Note 7 - Debt and Other Financi
Note 7 - Debt and Other Financing Arrangements | 3 Months Ended |
Mar. 31, 2021 | |
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 December 31, 2020. The weighted average interest rate on outstanding debt under the Loan Agreement was 3.2% three March 31, 2021. $14 $25 three March 31, 2021 2020, March 31, 2021, 2.2% $1.8 March 31, 2021. The annual principal repayment requirements for debt obligations as of March 31, 2021were 2021 $ 517 2022 664 2023 294 2024 305 Long-term debt from equipment financing 1,780 Less: Current portion of long-term debt (691 ) Long-term debt from equipment financing, net of current portion 1,089 PPP Loan 2,181 Total long-term debt, net of current portion $ 3,270 On May 1, 2020, $2,181,157, May 4, 2022. one 1% 2021. |
Note 8 - Revenue
Note 8 - Revenue | 3 Months Ended |
Mar. 31, 2021 | |
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). For additional revenue detail relating to geographic breakdown of sales, see Note 9 Three Months Ended March 31, 2021 2020 Testing $ 5,049 $ 6,833 Shipping/Collection (hair) 615 660 Other 49 44 Total Revenue $ 5,713 $ 7,537 |
Note 9 - Business Segment Repor
Note 9 - Business Segment Reporting | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 9. Business Segment Reporting The Company manages its operations as one one Three Months Ended March 31, 2021 2020 Consolidated Revenue: United States $ 5,393 $ 6,341 Brazil 140 1,063 Other 180 133 Total revenue $ 5,713 $ 7,537 |
Note 10 - Significant Customers
Note 10 - Significant Customers | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 10. Significant Customers The Company had no 10% three March 31, 2021. One 14% three March 31, 2020. one 15% March 31, 2021. no 10% December 31, 2020. |
Note 11 - Recently Adopted Acco
Note 11 - Recently Adopted Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 11. Recently Adopted Accounting Pronouncements In December 2019, 2019 12, 740 740. 740 December 15, 2020, may 2019 12 January 1, 2021 no |
Note 3 - Share-based Compensa_2
Note 3 - Share-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Cost by Plan [Table Text Block] | Three Months Ended March 31, 2021 2020 Share-based compensation related to: Stock option grants $ 145 $ 124 Restricted Stock Unit awards 72 39 Total share-based compensation $ 217 $ 163 |
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, 2020 604 $ 14.31 7.0 $ - Granted - Exercised - $ - Forfeited (29 ) $ 3.47 Outstanding, March 31, 2021 575 $ 14.26 6.8 $ - Exercisable, March 31, 2021 424 $ 14.55 6.4 $ 72 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Number of Shares Weighted Average Price per Share (2) Weighted Average Fair Value (2) Outstanding & Unvested, December 31, 2020 166 $ 4.50 $ 745 Granted 3 $ 6.40 $ 19 Converted to common stock - - $ - Cancelled - - $ - Forfeited - - $ - Outstanding & Unvested, March 31, 2021 169 $ 4.54 $ 768 |
Note 4 - Basic and Diluted Ne_2
Note 4 - Basic and Diluted Net Income (Loss) Per Share (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2021 2020 Weighted average common shares outstanding, basic 5,537 5,517 Dilutive common equivalent shares 107 - Weighted average common shares outstanding, diluted 5,644 5,517 |
Note 6 - Operating Leases (Tabl
Note 6 - Operating Leases (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2021 $ 828 2022 1,129 2023 1,120 2024 1,034 2025 592 2026 460 Total Lease Payments 5,163 Less: Interest expense (443 ) Present value of lease liabilities $ 4,720 Current operating lease liabilities $ 963 Long-term operating lease liabilities 3,757 $ 4,720 |
Note 7 - Debt and Other Finan_2
Note 7 - Debt and Other Financing Arrangements (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | 2021 $ 517 2022 664 2023 294 2024 305 Long-term debt from equipment financing 1,780 Less: Current portion of long-term debt (691 ) Long-term debt from equipment financing, net of current portion 1,089 PPP Loan 2,181 Total long-term debt, net of current portion $ 3,270 |
Note 8 - Revenue (Tables)
Note 8 - Revenue (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, 2021 2020 Testing $ 5,049 $ 6,833 Shipping/Collection (hair) 615 660 Other 49 44 Total Revenue $ 5,713 $ 7,537 |
Note 9 - Business Segment Rep_2
Note 9 - Business Segment Reporting (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Three Months Ended March 31, 2021 2020 Consolidated Revenue: United States $ 5,393 $ 6,341 Brazil 140 1,063 Other 180 133 Total revenue $ 5,713 $ 7,537 |
Note 2 - COVID-19 Pandemic (Det
Note 2 - COVID-19 Pandemic (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | |
Income Tax Benefit CARES Act | $ 800 | |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 2,190 | $ 2,833 |
Note 3 - Share-based Compensa_3
Note 3 - Share-based Compensation (Details Textual) - Incentive Plan 2006 [Member] - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 42 | |
Share-based Payment Arrangement, Expense, Tax Benefit | $ 0 | $ 0 |
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 790 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 966 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 328 days |
Note 3 - Share-based Compensa_4
Note 3 - Share-based Compensation - Compensation Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Share-based compensation | $ 217 | $ 163 |
Share-based Payment Arrangement, Option [Member] | ||
Share-based compensation | 145 | 124 |
Restricted Stock Units (RSUs) [Member] | ||
Share-based compensation | $ 72 | $ 39 |
Note 3 - Share-based Compensa_5
Note 3 - Share-based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | ||
Outstanding (in shares) | 604 | ||
Outstanding, weighted average exercise price (in dollars per share) | $ 14.31 | ||
Outstanding, weighted average remaining contractual life (Year) | 6 years 292 days | 7 years | |
Outstanding, aggregate intrinsic value | [1] | ||
Granted (in shares) | |||
Granted, weighted average exercise price (in dollars per share) | |||
Exercised (in shares) | |||
Exercised, weighted average exercise price (in dollars per share) | |||
Forfeited (in shares) | (29) | ||
Forfeited, weighted average exercise price (in dollars per share) | $ 3.47 | ||
Outstanding (in shares) | 575 | 604 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 14.26 | $ 14.31 | |
Exercisable (in shares) | 424 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 14.55 | ||
Exercisable, weighted average remaining contractual life (Year) | 6 years 146 days | ||
Exercisable, aggregate intrinsic value | [1] | $ 72 | |
[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 - Share-based Compensa_6
Note 3 - Share-based Compensation - Nonvested Award Activity (Details) - Stock Unit Award [Member] $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2021USD ($)$ / sharesshares | ||
Outstanding & Unvested at beginning of period (in shares) | shares | 166 | |
Outstanding & Unvested at beginning of period, weighted average price per share (in dollars per share) | $ / shares | $ 4.50 | [1] |
Outstanding & Unvested at beginning of period, weighted average fair value | $ | $ 745 | [1] |
Granted (in shares) | shares | 3 | |
Granted, weighted average price per share (in dollars per share) | $ / shares | $ 6.40 | [1] |
Granted, weighted average fair value | $ | $ 19 | [1] |
Converted to common stock (in shares) | shares | ||
Converted to common stock, weighted average price per share (in dollars per share) | $ / shares | [1] | |
Converted to common stock, weighted average fair value | $ | [1] | |
Cancelled (in shares) | shares | ||
Cancelled, weighted average price per share (in dollars per share) | $ / shares | [1] | |
Cancelled, weighted average fair value | $ | [1] | |
Forfeited (in shares) | shares | ||
Forfeited, weighted average price per share (in dollars per share) | $ / shares | [1] | |
Forfeited, weighted average fair value | $ | [1] | |
Outstanding & Unvested at end of period (in shares) | shares | 169 | |
Outstanding & Unvested at end of period, weighted average price per share (in dollars per share) | $ / shares | $ 4.54 | [1] |
Outstanding & Unvested at end of period, weighted average fair value | $ | $ 768 | [1] |
[1] | Weighted average price per share is the weighted grant price based on the closing market price of each of the stock grants related to each grant of stock unit awards. The weighted average fair value is the weighted average share price times the number of shares. |
Note 4 - Basic and Diluted Ne_3
Note 4 - Basic and Diluted Net Income (Loss) Per Share (Details Textual) shares in Thousands | 3 Months Ended |
Mar. 31, 2021shares | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 568 |
Note 4 - Basic and Diluted Ne_4
Note 4 - Basic and Diluted Net Income (Loss) Per Share - Basic and Diluted Weighted Average Common Shares Outstanding (Details) - shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Weighted average common shares outstanding, basic (in shares) | 5,537 | 5,517 |
Dilutive common equivalent shares (in shares) | 107 | |
Weighted average common shares outstanding, diluted (in shares) | 5,644 | 5,517 |
Note 6 - Operating Leases (Deta
Note 6 - Operating Leases (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Operating Lease, Right-of-Use Asset | $ 4,255 | $ 4,286 | |
Operating Lease, Liability, Total | $ 4,720 | ||
Operating Lease, Weighted Average Discount Rate, Percent | 3.90% | ||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 4 years 292 days | ||
Operating Lease, Expense | $ 268 | $ 306 |
Note 6 - Operating Leases - Mat
Note 6 - Operating Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
2021 | $ 828 | |
2022 | 1,129 | |
2023 | 1,120 | |
2024 | 1,034 | |
2025 | 592 | |
2026 | 460 | |
Total Lease Payments | 5,163 | |
Less: Interest expense | (443) | |
Present value of lease liabilities | 4,720 | |
Current operating lease liabilities | 963 | $ 875 |
Long-term operating lease liabilities | 3,757 | $ 3,895 |
Operating Lease, Liability, Total | $ 4,720 |
Note 7 - Debt and Other Finan_3
Note 7 - Debt and Other Financing Arrangements (Details Textual) - USD ($) | May 01, 2020 | Mar. 31, 2020 | Mar. 31, 2021 |
Paycheck Protection Program CARES Act [Member] | |||
Proceeds from Issuance of Long-term Debt, Total | $ 2,181,157 | ||
Banc of America Leasing and Capital [Member] | Equipment Loan Arrangement [Member] | Line of Credit [Member] | |||
Long-term Debt, Weighted Average Interest Rate, over Time | 3.20% | ||
Interest Expense, Total | $ 25,000 | $ 14,000 | |
Long-term Debt, Total | $ 1,800,000 |
Note 7 - Debt and Other Finan_4
Note 7 - Debt and Other Financing Arrangements - Schedule of Debt Repayments (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Less: Current portion of long-term debt | $ (691) | $ (688) |
Total long-term debt, net of current portion | 3,270 | $ 3,444 |
Equipment Loan Arrangement [Member] | ||
2021 | 517 | |
2022 | 664 | |
2023 | 294 | |
2024 | 305 | |
Long-term debt from equipment financing | 1,780 | |
Total long-term debt, net of current portion | 1,089 | |
Paycheck Protection Program CARES Act [Member] | ||
Total long-term debt, net of current portion | $ 2,181 |
Note 8 - Revenue - Revenue by M
Note 8 - Revenue - Revenue by Major Source (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Revenues | $ 5,713 | $ 7,537 |
Testing [Member] | ||
Revenues | 5,049 | 6,833 |
Shipping/Collection (Hair) [Member] | ||
Revenues | 615 | 660 |
Other Revenue [Member] | ||
Revenues | $ 49 | $ 44 |
Note 9 - Business Segment Rep_3
Note 9 - Business Segment Reporting (Details Textual) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Number of Operating Segments | 1 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||
Number of Major Customers | 0 | 1 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | BRAZIL | ||
Number of Major Customers | 1 |
Note 9 - Business Segment Rep_4
Note 9 - Business Segment Reporting - Revenue by Major Source (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Revenues | $ 5,713 | $ 7,537 |
UNITED STATES | ||
Revenues | 5,393 | 6,341 |
BRAZIL | ||
Revenues | 140 | 1,063 |
Other Foreign Countries [Member] | ||
Revenues | $ 180 | $ 133 |
Note 10 - Significant Custome_2
Note 10 - Significant Customers (Details Textual) - Customer Concentration Risk [Member] | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Revenue Benchmark [Member] | |||
Number of Major Customers | 0 | 1 | |
Revenue Benchmark [Member] | Customer One [Member] | |||
Concentration Risk, Percentage | 14.00% | ||
Accounts Receivable [Member] | |||
Number of Major Customers | 1 | 0 | |
Accounts Receivable [Member] | Customer One [Member] | |||
Concentration Risk, Percentage | 15.00% |