0001171843-25-001658 | 10-K | XBRL Viewer

Income Tax Disclosure [Text Block]

5. Income Taxes

The income tax provision consists of the following (in thousands):

	Year Ended December 31,
	2024			2023
Current
Federal	$	(56	)	$	99
State		1			(75	)
Total Current		(55	)		24
Federal		-			146
State		-			546
Total Deferred		-			692
Income Tax Provision	$	(55	)	$	716

A reconciliation of the effective rate with the federal statutory rate is as follows:

	Year Ended December 31,
	2024			2023
Federal statutory rate		21.0	%		21.0	%
State income taxes, net of federal benefit		(4.6	)%		2.1	%
Permanent differences		(0.2	)%		(0.1	)%
Stock based compensation		(6.3	)%		(1.2	)%
Federal R&D Credits		3.5	%		3.5	%
State R&D Credits		3.7	%		2.9	%
Foreign taxes, net of federal benefit		0.0	%		0.0	%
Difference in tax rate for carryback claim		(10.0	)%		0.0	%
Change in valuation reserve		(4.2	)%		(48.9	)%
Effective tax rate		2.9	%		(20.8	)%

The change in effective tax rate from 2023 to 2024 was primarily driven by the recording of a larger valuation allowance in 2023 as compared to 2024. As of December 31, 2024, we had federal net operating loss carryforwards of $1.9 million which do not expire. As of December 31, 2024, we had $2.6 million of state net operating loss carryforwards, of which $1.6 million expire at various dates between 2030 and 2044, and $1.0 million do not expire. As of December 31, 2024, we had federal tax credit carryforwards $0.1 million which expire in 2044 and $1.5 million of California tax credit carryforwards relating to the years 2013 through 2024 which have an unlimited carryforward period.

The difference between the statutory rate of 21% and our effective tax rate is primarily driven by current year loss which is offset by a full valuation allowance. As of December 31, 2024, we recorded a full valuation allowance against our net deferred tax assets. As of December 31, 2024, we had gross deferred tax assets of $3.2 million and gross deferred tax liabilities of $0.5 million, and a valuation allowance of $2.7 million, resulting in no net deferred tax assets. In evaluating the realizability of deferred tax assets, we considered the available positive and negative evidence, including being in a three-year cumulative loss position, projected future pre-tax book income (loss) and other quantitative and qualitative information. As of December 31, 2024, we had federal net operating loss carryforwards of $1.9 million which do not expire.

The components of the net deferred tax liabilities included in the accompanying balance sheets are as follows (in thousands):

	As of December 31,
	2024			2023
Deferred Tax Assets
Allowance for credit losses	$	9		$	15
Accrued expenses		136			154
Stock-based compensation		322			358
R&D tax credits		1,234			1,193
Operating lease		232			488
Capitalized research expenses		690			1,228
NOL carryforward		545			87
Gross Deferred Tax Assets		3,168			3,523
Valuation Allowance		(2,660	)		(2,579	)
Deferred Tax Assets After Valuation Allowance		508			944

Deferred Tax Liabilities
Excess of tax over book depreciation and amortization		(233	)		(447	)
Prepaid expenses		(61	)		(70	)
ROU- operating and financing leases		(214	)		(427	)
Gross Deferred Tax Liabilities		(508	)		(944	)

Net Deferred Tax Assets	$	-		$	-

Income taxes are recorded in accordance with FASB ASC Topic 740, Income Taxes (“ASC 740”), which provides for deferred taxes using an asset and liability approach. We recognize deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is provided, if, based upon the weight of available evidence, it is more likely than not that some or all of the net deferred tax assets will not be realized.

ASC 740 contains a two-step approach to recognizing and measuring uncertain tax positions (tax contingencies). The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on an audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. We consider many factors when evaluating and estimating our tax positions and tax benefits, which may require periodic adjustments and which may not accurately forecast actual outcomes. We had immaterial uncertain tax positions at December 31, 2024, and 2023, respectively.

We operate within multiple taxing jurisdictions and could be subject to audit in these jurisdictions. These audits may involve complex issues, which may require an extended period of time to resolve. We have provided for our estimated taxes payable in the accompanying financial statements. Our policy is to recognize interest and penalties related to income tax matters as a general and administrative expense, when and if incurred. Interest and penalties for the years ended December 31, 2024, and 2023 were not material.

The entire disclosure for income tax.

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Risks and Uncertainties [Policy Text Block]

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Risks and Uncertainties

We are subject to a number of risks and uncertainties similar to those of other companies, such as those associated with the continued expansion of our sales and marketing network, technological developments, intellectual property protection, development of markets for new products and services offered by us, the economic health of our principal customers, financial and operational risks associated with expansion of testing facilities we use, government regulation (including, but not limited to, Federal Food and Drug Administration (FDA) regulations, proposed laws and regulations, and delays in implementation of laws and regulations), competition and general economic conditions.

Use of Estimates, Policy [Policy Text Block]

Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates, including those related to bad debts, long-lived asset lives, income tax valuation and share based compensation, and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Changes in estimates are recorded in the period in which they become known.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

We consider all highly liquid investments with original maturities at the date of purchase of 90 days or less as cash equivalents. As of December 31, 2024, and 2023, there were no investments classified as cash equivalents.

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment

Property and equipment are recorded at cost. Depreciation and amortization is computed over the estimated useful lives of the assets, using the straight-line method. Repair and maintenance costs are expensed as incurred. The estimated useful lives of the assets are:

Computer software	3 to 5 years
Office furniture and equipment	3 to 7 years
Laboratory equipment	5 to 7 years
Leasehold improvements	Lesser of estimated useful life or lease term

We recorded depreciation and amortization related to property and equipment and capitalized software of $1.1 million and $1.7 million in 2024 and 2023, respectively. We had $386 thousand of capitalized software and equipment that was not placed in service as of December 31, 2024, which is included as a component of computer software on the accompanying consolidated balance sheets.

Lessee, Leases [Policy Text Block]

Leases

The Company determines if an arrangement is a lease at inception. Operating leases are included in operating right-of-use (“ROU”) assets and operating lease liabilities on the consolidated balance sheets. Finance leases are included in right-of-use finance lease and finance lease liabilities on the consolidated balance sheets.

ROU assets and lease liabilities are initially recognized based on the present value of the future minimum lease payments over the lease term at commencement date calculated using the Company’s incremental borrowing rate applicable to the lease asset, unless the implicit rate is readily determinable. ROU assets also include any lease payments made at or before lease commencement and exclude any lease incentives received. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. For operating leases, lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. For finance leases, interest on the lease liability and the amortization of the right-of-use asset results in front-loaded expense over the lease term. The Company accounts for lease and non-lease components as a single lease component for all its leases.

The Company does not recognize ROU assets and lease liabilities that arise from leases with an original term of 12 months or less. Rather, the Company recognizes the lease expense on a straight-line basis over the term of the lease.

Research, Development, and Computer Software, Policy [Policy Text Block]

Capitalized Software Development Costs

We capitalize costs related to significant software projects developed or obtained for internal use, including costs incurred in a cloud computing arrangement. Costs incurred during the preliminary project work stage or conceptual stage, such as determining the performance requirements, system requirements and data conversion, are expensed as incurred. Costs incurred in the application development phase, such as coding, testing for new software and upgrades that result in additional functionality, are capitalized and are amortized using the straight-line method over the useful life of the software for three to five years. Costs incurred during the post-implementation/operation stage, including training costs and maintenance costs, are expensed as incurred. In accordance with Company policy, during the years ended December 31, 2024, and 2023, we capitalized internally developed software costs of $39 thousand and $127 thousand, respectively. Amortization expense related to software development costs was $130 thousand and $150 thousand in 2024 and 2023, respectively. Determining whether particular costs incurred are more properly attributable to the preliminary or conceptual stage, and thus expensed, or to the application development phase, and thus capitalized and amortized, depends on subjective judgments about the nature of the development work, and our judgments in this regard may differ from those made by other companies. General and administrative costs related to developing or obtaining such software are expensed as incurred.

Other Assets [Policy Text Block]

Other Assets

Other assets primarily consist of capitalized legal costs relating to patent applications. We amortize these costs over the lesser of the legal life or estimated useful life of the patent from the date of grant of the applicable patent. The typical life is twenty years. As of December 31, 2024, we had capitalized legal costs relating to patent applications of $0.9 million with accumulated amortization of $0.5 million, for a net balance of $0.4 million. As of December 31, 2023, we had capitalized legal costs relating to patent applications of $0.9 million with accumulated amortization of $0.4 million, for a net balance of $0.5 million. These balances are included in other assets on the consolidated balance sheet. Amortization expense was $42 thousand and $62 thousand in 2024 and 2023, respectively. Based on payments made as of December 31, 2024, remaining amortization expense is expected to be $187 thousand for each of the five years ending December 31, 2029 and $39 thousand thereafter.

Credit Loss, Financial Instrument [Policy Text Block]

Allowance for Credit Losses

The allowance for credit losses is based on management’s assessment of the ability to collect amounts owed to us by our customers. Management reviews the collectability of our accounts receivable and establishes an allowance for estimated losses that could result from the inability of our customers to make required payments, taking into consideration customer credit history and financial condition, industry and market segment information, credit reports, and economic trends and conditions. We maintain an allowance for potential credit losses but historically has not experienced any significant losses related to individual customers or groups of customers in any particular industry or geographic area.

Revenue [Policy Text Block]

Revenue Recognition

We are in the business of performing drug testing services and reporting the results thereof. Our services are primarily drug and alcohol testing for our customers for an agreed-upon fee per unit tested. The revenues are recognized when the drug test is performed and reported to the customer.

Revenue is recognized when control of the services is transferred to our customers, in an amount that reflects the consideration (none of which is variable) we expect to be entitled to in exchange for those services. We typically invoice customers monthly for services provided and payments are generally due within 30 to 60 days of the invoice date.

The table below disaggregates our external revenue by major source (in thousands):

	Year Ended December 31,
	2024		2023
Consolidated Revenue:
Testing	$	16,670	$	18,661
Shipping / Collection (hair)		2,899		3,316
Other		116		121
Total Revenue	$	19,685	$	22,098

Our revenues by geographic region, based on the location of the customer, were as follows (in thousands):

	Year Ended December 31,
	2024		2023
Consolidated Revenue:
United States	$	18,641	$	21,216
International		1,044		882
Total Revenue	$	19,685	$	22,098

Testing Revenue

Drug and alcohol tests for drugs of abuse using hair, performed in our forensic laboratory in California, represents our primary service. Sales to customers are initiated through sales agreements, most of which have standard terms. Most tests are identified through a chain of custody form (“CCF”) and can therefore be uniquely tracked. Revenue is recognized when performance obligations under the terms of the contract with a customer are satisfied; generally, this occurs with the transfer of control of our service, which occurs at a specific point-in-time. The specific point-in-time is the completion of the test and availability of test results to the customer. Most tests are completed the same day that the hair specimen is received.

Substantially all tests are completed within a few days once received for processing at our laboratory in California. As the tests are performed in a forensic laboratory, the exact date and time of each test completion is available and used in the timing of recognition of revenue.

Revenue is measured as the amount of consideration we expect to receive in exchange for providing services. Sales taxes we pay concurrent with revenue-producing activities are excluded from revenue.

Shipping and Hair Collection Revenue

Shipping revenue represents the amount billed to customers related to shipping of the hair specimen and CCF (collectively called the “sample”) to our laboratory. Collection revenue represents the amount billed to customers related to the collection of the hair specimen. This collection is done by third parties who we have contracted with. Shipping and hair collection revenue is recognized when performance obligations under the terms of the contract with a customer are satisfied; generally, this occurs with the transfer of control of our service, which occurs at a specific point-in-time. The specific point-in-time is the completion of the test (associated with the shipping or hair collection charge) and availability of test results to the customer.

Revenue is measured as the amount of consideration we expect to receive in exchange for providing services. As we control the service before transferring to the customer, we are considered a principal in the transaction, and therefore record revenues on a gross basis, with shipping and hair collection costs in costs of revenues.

Other Revenue

Other revenue represents several items including: urine testing performed by other labs, medical review officer charges, legal/testifying services, and other miscellaneous charges. The total of all these items is less than 1% of total revenue. The amounts are generally billed to customers as services are performed, which occurs at a specific point-in-time.

Practical Expedients and Exemptions

We generally expense sales commissions when incurred as they are typically not related to costs to fulfill customer contracts but relate to overall sales targets. These costs are recorded within marketing and selling expense on the accompanying consolidated statements of operations.

Research and Development Expense, Policy [Policy Text Block]

Research and Development Expenses

We expense all research and development costs as incurred.

Contingent Liability Reserve Estimate, Policy [Policy Text Block]

Contingencies

Loss contingencies from legal proceedings and claims may occur from government investigations, shareholder lawsuits, product liability, contractual claims, tax and other matters. Accruals are recognized when it is probable a liability will be incurred, and the amount of loss can be reasonably estimated. Legal fees are expensed as incurred.

Income Tax, Policy [Policy Text Block]

Income Taxes

We account for income taxes using the liability method pursuant to Accounting Standards Codification (ASC) 740, “Income Taxes”. Under this method, we recognize deferred tax assets and liabilities for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts using enacted tax rates in effect for the year the differences are expected to reverse. We evaluate uncertain tax positions annually and consider whether the amounts recorded for income taxes are adequate to address our tax risk profile. We analyze the potential tax liabilities of specific transactions and tax positions based on management’s judgment as to the expected outcome.

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentration of Credit Risk and Off-Balance Sheet Risk

Financial instruments that potentially subject us to concentrations of credit risk are principally cash and accounts receivable. Our policy is to place our cash in high quality financial institutions. At times, including presently, these deposits may exceed or be exempt from federally insured limits. We do not believe significant credit risk exists with respect to these institutions. Concentration of credit risk with respect to accounts receivable is limited to certain customers to whom we make substantial sales. To reduce risk, we routinely assess the financial strength of our customers and, as a consequence, believe that our accounts receivable credit risk exposure is limited. We maintain an allowance for potential credit losses but historically have not experienced any significant losses related to individual customers or groups of customers in any particular industry or geographic area. We do not require collateral. We have no significant off-balance-sheet risk such as foreign exchange contracts, option contracts, or other foreign hedging arrangements.

Major Customers, Policy [Policy Text Block]

Significant Customers and Concentration of Credit Risk

We had no customers that represented 10% or more of total revenue for the years ended December 31, 2024 and 2023, respectively. We had two customers that represented 15% and 12% of the total accounts receivable balance as of December 31, 2024, and two customers that represented 13% and 11 % of the total accounts receivable balance as of December 31, 2023.

Share-Based Payment Arrangement [Policy Text Block]

Stock-Based Compensation

We account for equity awards in accordance with ASC 718, “Compensation — Stock Compensation” (“ASC 718”). ASC 718 requires employee equity awards to be accounted for under the fair value method. It also requires the measurement of compensation cost at fair value on the date of grant and recognition of compensation expense over the service period for awards expected to vest. Accordingly, share-based compensation is measured at the grant date based on the fair value of the award. We use the straight-line method to recognize share-based compensation over the service period of the award, which is generally equal to the vesting period. We use the simplified approach to calculate the expected exercise date of options, which is one of the components used to determine the fair value of the options. This approach is used due to the small number of recipients receiving stock options not providing a reasonable basis for estimating expected term. We recognize the impact of forfeitures when they occur with no adjustment for estimated forfeitures and recognize excess tax benefits as a reduction of income tax expense regardless of whether the benefit reduces income taxes payable.

Stock compensation expense by statements of operations account is as follows (in thousands):

	Year Ended December 31,
	2024			2023
Cost of revenues	$	(3	)	$	40
General & administrative		829			756
Marketing & selling		33			47
Research & development		58			65
Total stock compensation	$	917		$	908

See Note 7 – “Stock-Based Awards” to the Consolidated Financial Statements included in this Annual Report for additional information relating to our stock plan.

Earnings Per Share, Policy [Policy Text Block]

Basic and Diluted Net Loss per Share

Basic net loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares and dilutive common stock equivalents outstanding during the period. The number of dilutive common stock equivalents outstanding during the period has been determined in accordance with the treasury-stock method. Common equivalent shares consist of common stock issuable upon the exercise of outstanding options and the unvested portion of stock unit awards (“SUAs”).

Basic and diluted weighted average common shares outstanding are as follows (in thousands):

	2024		2023
Weighted average common shares outstanding, basic		5,867		5,740
Dilutive common equivalent shares		-		-
Weighted average common shares outstanding, assuming dilution		5,867		5,740

For the years ended December 31, 2024, and 2023, options to purchase 566 thousand and 512 thousand common shares were outstanding but not included in the dilutive common equivalent share calculation as their effect would have been anti-dilutive.

The following outstanding common stock equivalents were not included in the dilutive common equivalent share calculation as their effect would have been anti-dilutive (in thousands):

	2024		2023
Options		566		512
SUAs		36		140
		602		652

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value Measurements

The fair values of cash, accounts receivable, accounts payable and accrued expenses approximate their carrying values due to their short maturities. The carrying value of long-term debt approximates its fair value, as it is based on current market rates at which we could borrow funds with similar terms.

Basis of Presentation and Consolidation, Policy [Policy Text Block]

Basis of Preparation and Consolidation

The consolidated financial statements include the financial statements of the Company and its wholly-owned subsidiaries and have been prepared using accounting principles generally accepted in the United States (“U.S. GAAP”). All intercompany transactions and balances have been eliminated.

Segment Reporting, Policy [Policy Text Block]

Segment Reporting

We manage our operations as one segment, drug testing services. As a result, the financial information disclosed herein materially represents all of the financial information related to our principal operating segment. See Note 13 – “Business Segment Reporting” to the Consolidated Financial Statements included in this Annual Report.

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Adopted Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which expands a public entity’s annual and interim disclosure requirements about their reportable segments, primarily through more detailed disclosures about significant segment expenses. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures in ASC 280 on an interim and annual basis. ASU 2023-07 is effective for annual periods beginning after December 15, 2023, and for interim periods beginning after December 15, 2024. We have adopted this standard for our fiscal year 2024 annual financial statements and interim financial statements thereafter and have applied this standard retrospectively for all prior periods presented in the financial statements. See Note 13 — Business Segment Reporting for further information.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures to enhance the transparency and decision usefulness of income tax disclosures. The ASU primarily enhances and expands both the income tax rate reconciliation disclosure and the income taxes paid disclosure. The ASU is effective for annual periods beginning after December 15, 2024 on a prospective basis. Early adoption is permitted. The Company is currently evaluating the standard to determine the impact of adoption on its consolidated financial statements and disclosures.

In November 2024, the FASB issued ASU No. 2024-03, Income Statement- Reporting Comprehensive Income- Expense Disaggregation Disclosures (Subtopic 220-40), requiring public business entities to disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15,2027, with early adoption permitted. The disclosures required under the guidance can be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all periods presented in the financial statements. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements and disclosures.

Note 7 - Stock-based Awards (Details Textual) - USD ($) $ / shares in Units, $ in Thousands				8 Months Ended	12 Months Ended
	Jan. 22, 2024	Sep. 21, 2023	Aug. 17, 2023	Aug. 17, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2006	May 31, 2021	Jan. 31, 2019
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)					105,000
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)					$ 3.4
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value					1.42	$ 1.93
Share Price					$ 1.99	$ 2.96
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested in Period, Fair Value					$ 339	$ 786
Conversion of Stock, Amount Issued					578	$ 670
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount					$ 348,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)					1 year 5 months 1 day
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)					2 years
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)					4 years
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period					10 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term (Year)					1 year 10 months 13 days	1 year 6 months 10 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate					44.80%	36.40%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate					4.10%	4.70%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate					0.00%	0.00%
Stock Unit Award [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period			91,000		0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value					$ 0	$ 4.64
Share-Based Compensation Arrangement by Share-Based Payment Award, Accelerated Vesting, Number (in shares)					50,000
Share-Based Payment Arrangement, Accelerated Cost					$ 156
Chief Executive Officer and President [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)			300,000
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)			$ 4.64
Chief Executive Officer and President [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)			100,000
Chief Executive Officer and President [Member] \| Share-Based Payment Arrangement, Tranche Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)			100,000
Chief Executive Officer and President [Member] \| Share-Based Payment Arrangement, Tranche Three [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)			100,000
Chief Executive Officer and President [Member] \| Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period				10 years
Chief Executive Officer and President [Member] \| Share-Based Payment Arrangement, Option [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)			2 years
Chief Executive Officer and President [Member] \| Share-Based Payment Arrangement, Option [Member] \| Share Based Compensation Award, Tranche One, Vesting on the One Year Anniversary [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage			50.00%
Chief Executive Officer and President [Member] \| Share-Based Payment Arrangement, Option [Member] \| Share Based Compensation Award, Tranche One, Vesting on the Two Year Anniversary [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage			50.00%
Chief Revenue Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)		120,000
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)		$ 3.66
Chief Revenue Officer [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)		40,000
Chief Revenue Officer [Member] \| Share-Based Payment Arrangement, Tranche Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)		40,000
Chief Revenue Officer [Member] \| Share-Based Payment Arrangement, Tranche Three [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)		40,000
Chief Revenue Officer [Member] \| Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period		10 years
Chief Revenue Officer [Member] \| Share-Based Payment Arrangement, Option [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)		2 years
Chief Revenue Officer [Member] \| Share-Based Payment Arrangement, Option [Member] \| Share Based Compensation Award, Tranche One, Vesting on the One Year Anniversary [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage		50.00%
Chief Revenue Officer [Member] \| Share-Based Payment Arrangement, Option [Member] \| Share Based Compensation Award, Tranche One, Vesting on the Two Year Anniversary [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage		50.00%
Vice President of Finance [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	105,000
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)	$ 3.4
Vice President of Finance [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	35,000
Vice President of Finance [Member] \| Share-Based Payment Arrangement, Tranche Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	35,000
Vice President of Finance [Member] \| Share-Based Payment Arrangement, Tranche Three [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	35,000
Vice President of Finance [Member] \| Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period	10 years
Vice President of Finance [Member] \| Share-Based Payment Arrangement, Option [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)	2 years
Vice President of Finance [Member] \| Share-Based Payment Arrangement, Option [Member] \| Share Based Compensation Award, Tranche One, Vesting on the One Year Anniversary [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	50.00%
Vice President of Finance [Member] \| Share-Based Payment Arrangement, Option [Member] \| Share Based Compensation Award, Tranche One, Vesting on the Two Year Anniversary [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	50.00%
Incentive Plan 2006 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period							10 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant					527,000			1,600,000	1,200,000

Note 12 - Other Expense

12 Months Ended

Dec. 31, 2024

Other Income and Other Expense Disclosure [Text Block]

12. Other Expense

Interest expense for the years ended December 31, 2024 and 2023, was $26 thousand and $17 thousand, respectively. There was zero interest income for the years ended December 31, 2024 or 2023. Settlement expense for the years ended December 31, 2024 and 2023, was $2 thousand and $507 thousand, respectively. See Note 9 for discussion of settlements. Settlement expense and interest expense is included as a component of other expense on the accompanying consolidated statements of operations and comprehensive loss.

Note 5 - Income Taxes - Reconciliation of Effective Rate with Federal Statutory Rate (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Federal statutory rate	21.00%	21.00%
State income taxes, net of federal benefit	(4.60%)	2.10%
Permanent differences	(0.20%)	(0.10%)
Stock based compensation	(6.30%)	(1.20%)
Federal R&D Credits	3.50%	3.50%
State R&D Credits	3.70%	2.90%
Foreign taxes, net of federal benefit	0.00%	0.00%
Difference in tax rate for carryback claim	(10.00%)	0.00%
Increase/(decrease) in valuation reserve	(4.20%)	(48.90%)
Effective tax rate	2.90%	(20.80%)

Note 2 - Summary of Significant Accounting Policies - Basic and Diluted Weighted Average Common Shares Outstanding (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Weighted average common shares outstanding, basic (in shares)	5,867	5,740
Dilutive common equivalent shares (in shares)	0	0
Weighted average common shares outstanding, assuming dilution (in shares)	5,867	5,740

Note 4 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accrued compensation and employee benefits	$ 339	$ 640
Accrued vacation expense	360	317
Accrued taxes	25	553
Accrued shipping expense	113	113
Accrued legal settlement	0	167
Other accrued expenses	723	814
Total Accrued Expenses	$ 1,560	$ 2,604

Note 10 - Leases (Tables)

12 Months Ended

Dec. 31, 2024

Right-of-use Asset and Lease Liability [Table Text Block]

		As of December 31,
		2024		2023
Assets:	Classification
Operating lease right-of-use-asset	Operating lease asset	$	844	$	1,828
Financing lease right-of-use-asset	Equipment, net		80		-
		$	924	$	1,828

Liabilities:
Current	Classification
Operating	Operating lease liability	$	452	$	1,048
Financing	Financing lease liability		28		-
Long-term
Operating	Long-term portion of operating leases liability		424		945
Financing	Long-term portion of financing leases liability		53		-
		$	957	$	1,993

Lease, Cost [Table Text Block]

	Year Ended December 31,
	2024		2023
Operating cash flows - operating lease	$	965	$	1,168
Financing cash flows - financing leases	$	21	$	-

Right-of-use asset obtained in exchange for operating lease liabilities	$	-	$	86
Finance lease assets obtained in exchange for finance lease liabilities	$	91	$	-

	As of December 31,
	2024			2023
Weighted-average remaining lease term – operating lease (in years)		1.97			3.10
Weighted-average discount rate – operating lease		3.8	%		3.9	%
Weighted-average remaining lease term – financing leases (in years)		2.67			-
Weighted-average discount rate – financing leases		9.0	%		-

	Year Ended December 31,
	2024		2023
Operating leases
Operating lease cost	$	747	$	1,040
Variable lease costs		-		-
Total operating lease cost		747		1,040
Short-term lease rent expense		34		-
Financing leases
Amortization of leased assets		10		-
Interest on lease liabilities		3		-
Financing lease cost		13		-
Net lease cost	$	794	$	1,040

Lessee, Operating and Financing Lease Liability Maturity [Table Text Block]

	Operating Leases			Finance Leases

Year Ending December 31, 2025	$	479		$	35
Year Ending December 31, 2026		478			35
Year Ending December 31, 2027		-			22
Total		957			92
Less present value discount		(81	)		(11	)
Operating lease liabilities	$	876		$	81

Note 3 - Accounts Receivable - Summary of the Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Balance	$ 64	$ 87
Provision for credit losses	48	(15)
Write-offs	(75)	(8)
Balance	$ 37	$ 64

Note 10 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Year Ending December 31, 2025, operating leases	$ 479
Year Ending December 31, 2025, finance leases	35
Year Ending December 31, 2026, operating leases	478
Year Ending December 31, 2026, finance leases	35
Year Ending December 31, 2027, operating leases	0
Year Ending December 31, 2027, finance leases	22
Total, operating leases	957
Total, finance leases	92
Less present value discount, operating leases	(81)
Less present value discount, finance leases	(11)
Operating lease liabilities	876
Finance lease liabilities	$ 81

Note 2 - Summary of Significant Accounting Policies (Details Textual) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares
Cash Equivalents, at Carrying Value	$ 0	$ 0
Depreciation, Depletion and Amortization, Nonproduction	1,100	1,700
Property, Plant and Equipment, Net	2,001	$ 3,061
Finite-Lived Intangible Asset, Expected Amortization, Year One	187
Finite-Lived Intangible Asset, Expected Amortization, Year Two	187
Finite-Lived Intangible Asset, Expected Amortization, Year Three	187
Finite-Lived Intangible Asset, Expected Amortization, Year Four	187
Finite-Lived Intangible Asset, Expected Amortization, Year Five	187
Finite-Lived Intangible Asset, Expected Amortization, after Year Five	$ 39
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount \| shares	602	652
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount \| shares	566	512
Revenue Benchmark [Member] \| Customer Concentration Risk [Member]
Number of Major Customers	0	0
Accounts Receivable [Member] \| Customer Concentration Risk [Member]
Number of Major Customers	2	2
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer One [Member]
Concentration Risk, Percentage	15.00%	13.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer Two [Member]
Concentration Risk, Percentage	12.00%	11.00%
Patents [Member]
Amortization	$ 42	$ 62
Finite-Lived Intangible Asset, Useful Life	20 years
Legal Cost Capitalized	$ 900	900
Legal Cost Capitalized, Amortization	500	400
Legal Cost Capitalized, Net	$ 400	500
Computer Software, Intangible Asset [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Computer Software, Intangible Asset [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years
Office Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Office Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	7 years
Laboratory Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years
Laboratory Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	7 years
Capitalized Software and Equipment [Member]
Property, Plant and Equipment, Net	$ 386
Software Development [Member]
Software Development Cost Capitalized	39	127
Amortization	$ 130	$ 150
Software Development [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Software Development [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years

Note 4 - Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Accrued Liabilities [Table Text Block]

	As of December 31,
	2024		2023
Accrued compensation and employee benefits	$	339	$	640
Accrued vacation expense		360		317
Accrued taxes		25		553
Accrued shipping expense		113		113
Accrued legal settlement		-		167
Other accrued expenses		723		814
Total Accrued Expenses	$	1,560	$	2,604

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 37	$ 64
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.005	$ 0.005
Preferred Stock, Shares Authorized (in shares)	873,000	873,000
Preferred Stock, Shares Issued (in shares)	0	0
Preferred Stock, Shares Outstanding (in shares)	0	0
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.005	$ 0.005
Common Stock, Shares Authorized (in shares)	50,000,000	50,000,000
Common Stock, Shares, Issued (in shares)	6,778,000	6,474,000
Common Stock, Shares, Outstanding (in shares)	6,110,000	5,806,000
Treasury Stock, Common, Shares (in shares)	668,000	668,000

Note 7 - Stock-based Awards

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Text Block]

7. Stock-Based Awards

The 2006 Incentive Plan initially adopted in 2006 provides for grants of options with terms of up to ten years, grants of restricted stock or stock unit awards (“SUAs”), issuances of stock bonuses or grants other stock-based awards plus cash-based awards, to officers, directors, employees, and consultants. Such shares are issuable out of our authorized but unissued common stock. In May 2021, the 2006 Incentive Plan was amended to increase the total number of shares issuable thereunder from 1.2 million to 1.6 million. As of December 31, 2024, 527 thousand shares remained available for future grant under the 2006 Incentive Plan.

On August 17, 2023, we granted Brian Hullinger, in connection with the commencement of his employment as our Chief Executive Officer and President, as an inducement grant outside of the 2006 Incentive Plan, under Nasdaq Listing Rule 5635(c)(4), options to acquire 300,000 shares of common stock. The options have a ten-year term and an exercise price of $4.64 per share, the closing price per share of Psychemedics Corporation common stock as reported by Nasdaq on August 17, 2023. The options were awarded in three tranches. Under the first tranche, option awards covering up to 100,000 shares vest over two years, with 50% of the original number of shares underlying the option vesting on the one-year anniversary of the date of grant and 50% on the two-year anniversary of the date of grant, subject to continued service with the Company through the applicable vesting dates. Under the second and third tranches, options to acquire 100,000 shares each were granted and each becomes exercisable in full only upon the attainment and continuation in effect for a specified period of time of a particular stock price on the Nasdaq Stock Market.

In addition, on September 21, 2023, we granted Shannon Shoemaker, in connection with the commencement of her employment as our Chief Revenue Officer, grants of options to acquire 120,000 shares of common stock. The options have a ten-year term and an exercise price of $3.66 per share, the closing price per share of Psychemedics Corporation common stock as reported by Nasdaq on September 21, 2023. The options were awarded in three tranches. Under the first tranche, option awards covering up to 40,000 shares vest over two years, with 50% of the original number of shares underlying the option vesting on the one-year anniversary of the date of grant and 50% on the two-year anniversary of the date of grant, subject to continued service with the Company through the applicable vesting dates. Under the second and third tranches, options to acquire 40,000 shares each were granted and each becomes exercisable in full only upon the attainment and continuation in effect for a specified period of time of a particular stock price on the Nasdaq Stock Market.

On January 22, 2024, we granted Daniella Mehalik, in connection with the commencement of her employment as our Vice President of Finance, grants of options to acquire 105,000 shares of common stock. The options have a ten-year term and an exercise price of $3.40 per share, the closing price per share of Psychemedics Corporation common stock as reported by Nasdaq on January 22, 2024. The options were awarded in three tranches. Under the first tranche, option awards covering up to 35,000 shares vest over two years, with 50% of the original number of shares underlying the option vesting on the one-year anniversary of the date of grant and 50% on the two-year anniversary of the date of grant, subject to continued service with the Company through the applicable vesting dates. Under the second and third tranches, options to acquire 35,000 shares each were granted and each becomes exercisable in full only upon the attainment and continuation in effect for a specified period of time of a particular stock price on the Nasdaq Stock Market.

The fair value of the SUAs is determined by the closing price on the date of grant. The fair value of options granted with only service conditions are estimated on the date of grant using a Black-Scholes option pricing model. The fair value of options granted with market conditions are estimated at the grant date using a Monte Carlo simulation model. The SUAs and options with only service conditions vest over a period of two to four years and are convertible or exercisable into an equivalent number of shares of the Company’s common stock provided that the employee receiving the award remains continuously employed throughout the vesting period. As described above, certain options vest and become exercisable upon the attainment of certain market conditions of the Company’s common stock. We record stock compensation expense related to the SUAs and options on a straight-line basis over the vesting term or requisite service period. We recognize the impact of forfeitures when they occur and recognize excess tax benefits as a reduction of income tax expense regardless of whether the benefit reduces income taxes payable.

On August 17, 2023, we granted SUAs covering ninety-one thousand shares of common stock.

The following table represents all shares granted by the Company under the 2006 Incentive Plan, and under inducement awards outside of any plan, for the last two years (shares in thousands):

Grant Date	Type	Shares		Weighted Average Fair Value Per Share (1)
January 22, 2024	Options		105	$	1.42
September 21, 2023	Options		120	$	1.66
August 17, 2023	Options		300	$	2.04
August 17, 2023	SUA		91	$	4.64

(1)

The fair value for the SUAs is the closing price of the Company’s stock on that date. The fair value for options represents the fair value calculated using either the Black-Scholes model or a Monte Carlo simulation. Options have contractual lives of 10 years. The options granted in 2024 have a weighted average grant date fair value of $1.42 per share assuming 1.87 year weighted average estimated service period, 44.8% volatility, 4.1% interest rate and a 0% dividend yield rate. The options granted in 2023 have a weighted average grant date fair value of $1.93 per share assuming 1.53 year weighted average estimated service period, 36.4% volatility, 4.7% interest rate and a 0% dividend yield rate. For SUAs granted during fiscal years ended December 31, 2024 and 2023, the weighted average grant date fair values were $0 and $4.64, respectively.

A summary of the Company’s stock option activity is as follows (in thousands, except price per share):

	Number of Shares			Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (years)		Aggregate Intrinsic Value⁽²⁾
Outstanding, December 31, 2023		512		$	6.32		8.7	$	-
Granted		105		$	3.40
Forfeited		(1	)	$	4.07
Canceled		(50	)	$	14.70
Outstanding, December 31, 2024		566		$	5.05		8.3	$	-

Exercisable, December 31, 2024		112		$	8.73		6.5	$	-

(2)

The aggregate intrinsic value on this table was calculated based on the amount, if any, by which the closing market price of the Company’s stock on December 31 of the applicable year exceeded the exercise price of any of the underlying options, multiplied by the number of shares subject to each such option. The closing stock price as of December 31, 2024, and 2023 was $1.99 and $2.96, respectively.

A summary of the Company’s stock unit award activity is as follows (in thousands, except price per share):

	Number of Shares			Weighted Average Grant-Date Fair Value per Share⁽³⁾
Outstanding & Unvested, December 31, 2023		140		$	5.23
Granted		-		$	0.0
Converted to common stock		(91	)	$	6.54
Cancelled		(6	)	$	6.52
Forfeited		(7	)	$	5.96
Outstanding & Unvested, December 31, 2024		36		$	5.01

(3)

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 transaction type. The weighted average fair value is the weighted average share price times the number of shares.

The fair value of stock unit award vesting was $339 thousand and $786 thousand for the years ended December 31, 2024, and 2023. The intrinsic value of stock unit awards converted to common stock was based on the stock price on the vesting date and amounted to $578 thousand and $670 thousand for the years ended December 31, 2024, and 2023.

As of December 31, 2024, the unamortized fair value of outstanding options and awards was $348 thousand to be amortized over a weighted average period of 1.42 years.

The Board of Directors approved the accelerated vesting of 50 thousand SUAs to the former Chief Executive Officer and a certain director upon retirement from such office and from the Board of Directors of the Company during the year ended December 31, 2023. We determined the value of the modifications to be $156 thousand, which is included in stock-based compensation in the accompanying consolidated financial statements, for the year ended December 31, 2023.

Note 5 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year Ended December 31,
	2024			2023
Current
Federal	$	(56	)	$	99
State		1			(75	)
Total Current		(55	)		24
Federal		-			146
State		-			546
Total Deferred		-			692
Income Tax Provision	$	(55	)	$	716

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended December 31,
	2024			2023
Federal statutory rate		21.0	%		21.0	%
State income taxes, net of federal benefit		(4.6	)%		2.1	%
Permanent differences		(0.2	)%		(0.1	)%
Stock based compensation		(6.3	)%		(1.2	)%
Federal R&D Credits		3.5	%		3.5	%
State R&D Credits		3.7	%		2.9	%
Foreign taxes, net of federal benefit		0.0	%		0.0	%
Difference in tax rate for carryback claim		(10.0	)%		0.0	%
Change in valuation reserve		(4.2	)%		(48.9	)%
Effective tax rate		2.9	%		(20.8	)%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	As of December 31,
	2024			2023
Deferred Tax Assets
Allowance for credit losses	$	9		$	15
Accrued expenses		136			154
Stock-based compensation		322			358
R&D tax credits		1,234			1,193
Operating lease		232			488
Capitalized research expenses		690			1,228
NOL carryforward		545			87
Gross Deferred Tax Assets		3,168			3,523
Valuation Allowance		(2,660	)		(2,579	)
Deferred Tax Assets After Valuation Allowance		508			944

Deferred Tax Liabilities
Excess of tax over book depreciation and amortization		(233	)		(447	)
Prepaid expenses		(61	)		(70	)
ROU- operating and financing leases		(214	)		(427	)
Gross Deferred Tax Liabilities		(508	)		(944	)

Net Deferred Tax Assets	$	-		$	-

Note 9 - Commitments and Contingencies (Details Textual) - USD ($)			12 Months Ended
	Dec. 31, 2023	Nov. 02, 2023	Dec. 31, 2024	Dec. 31, 2023
Operating Lease, Expense			$ 900,000	$ 1,100,000
Enma Sagastume v. Psychemedics Corporation [Member]
Litigation Settlement, Amount Awarded to Other Party		$ 1,200,000
Negotiations With Shipping Carrier [Member]
Payments for Legal Settlements	$ 334		$ 167

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net loss	$ (1,861)	$ (4,154)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	1,189	1,731
Right-of-use asset amortization	892	939
Operating lease termination	(3)	0
Deferred income taxes	0	691
Stock compensation expense	917	908
Loss on disposal of patents	0	131
Changes in operating assets and liabilities:
Accounts receivable	1,187	52
Prepaid expenses and other current assets	824	0
Income tax receivable	(6)	321
Other assets	86	0
Accounts payable	(290)	304
Accrued expenses	(1,044)	(1,335)
Operating lease liabilities	(962)	(1,068)
Net cash used in operating activities	929	(1,480)
Cash flows from investing activities:
Purchases of other assets	0	(2)
Purchases of property and equipment and leasehold improvements	(51)	(157)
Cost of internally developed software	(36)	0
Net cash used in investing activities	(87)	(159)
Cash flows from financing activities:
Payments on insurance note payable	(476)	0
Proceeds from issuance of stock, net of tax withholding	31	(54)
Issuance of common stock, net of issuance costs	1,934	0
Repurchase of common stock following reverse stock split	(2,563)	0
Payments on equipment debt financing	(305)	(294)
Principle payment of finance lease liability	(10)	0
Cash dividends paid	0	(799)
Net cash used in financing activities	(1,389)	(1,147)
Net increase (decrease) in cash	(547)	(2,786)
Cash, beginning of year	1,964	4,750
Cash, end of year	1,417	1,964
Supplemental disclosures of cash flow information:
Cash paid for interest	23	18
Cash received on disposal of fully depreciated asset	1	0
Non-cash investing and financing activities:
Equity issuance cost through accounts payable	50	0
Purchase of equipment through accounts payable and accrued liabilities	6	0
Prepaid insurance financed through note payable	$ 685	$ 0

Note 8 - Employee Benefit Plan

12 Months Ended

Dec. 31, 2024

Compensation and Employee Benefit Plans [Text Block]

8. Employee Benefit Plan

The Psychemedics Corporation 401(k) Savings and Retirement Plan (the “401(k) Plan”) is a qualified defined contribution plan in accordance with Section 401(k) of the Internal Revenue Code. All employees over the age of 21 are eligible to make pre-tax contributions up to an annual limit set forth by the IRS. Under the 401(k) Plan, we may, but are not obligated to, match a portion of the employees’ contributions up to a defined maximum. An annual limit set forth by the IRS. Under the 401(k) Plan, we may, but are not obligated to, match a portion of the employees’ contributions up to a defined maximum. No matching contributions were made in the years ended December 31, 2024 or 2023.

Note 5 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%
Deferred Tax Assets, Gross	$ 3,168	$ 3,523
Deferred Tax Liabilities, Gross	508	944
Deferred Tax Assets, Valuation Allowance	2,660	$ 2,579
Domestic Tax Jurisdiction [Member] \| Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards	1,900
Tax Credit Carryforward, Amount	100
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	2,600
Operating Loss Carryforwards, Subject to Expiration	1,600
Operating Loss Carryforwards, Not Subject to Expiration	1,000
State and Local Jurisdiction [Member] \| California Franchise Tax Board [Member]
Tax Credit Carryforward, Amount	$ 1,500

Note 1 - Nature of Business (Details Textual) $ / shares in Units, $ in Thousands				12 Months Ended
	Dec. 03, 2024 USD ($) $ / shares shares	Dec. 03, 2024 USD ($) $ / shares shares	Nov. 25, 2024 USD ($) shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares
Stockholders' Equity Note, Stock Split, Conversion Ratio		5,000
Stockholders' Equity, Reverse Stock Split, Cash Per Share for Rounding \| $ / shares		$ 2.35
Stock Issued During Period, Value, New Issues				$ 1,934
Common Stock, Shares, Outstanding \| shares	6,107,227	6,107,227		6,110,000	5,806,000
Increase (Decrease) in Common Stock Shares Outstanding \| shares	212,765
Cash and Cash Equivalents, at Carrying Value				$ 1,417	$ 1,964
Stock Purchase Agreement [Member]
Stock Issued During Period, Shares, New Issues \| shares		1,089,004
Equity Offering, Maximum Offering Amount			$ 3,300
Stock Issued During Period, Value, New Issues		$ 2,600
Stock Repurchased During Period, Shares \| shares		876,238
Stock Repurchased, Cost Per Share (in dollars per share) \| $ / shares		$ 2.35
Reduction in Proceeds from Stock Issuance from Expected Amount	$ 754	$ 754
Stock Issued During Period, Shares, New Issues, Excess of Required Amount \| shares		320,708
Shares Issued, Price Per Share (in dollars per share) \| $ / shares	$ 2.35	$ 2.35
Stock Purchase Agreement [Member] \| Cash-out [Member]
Equity Offering, Maximum Offering Amount			$ 2,800
Equity Offering, Maximum Offering Amount, Shares \| shares			1,196,946
Stock Issued During Period, Value, New Issues		$ 2,100
Stock Purchase Agreement [Member] \| Working Capital [Member]
Equity Offering, Maximum Offering Amount			$ 500
Equity Offering, Maximum Offering Amount, Shares \| shares			212,766
Stock Issued During Period, Value, New Issues		$ 500
Stock Purchase Agreement Excess Shares [Member]
Stock Repurchased During Period, Shares \| shares		320,708
Stock Repurchased, Cost Per Share (in dollars per share) \| $ / shares		$ 2.35
Minimum [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio			5,000
Maximum [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio			6,000
Number of Common Stock Record Holders	300	300
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio		5,000
Reverse Stock Split [Member] \| Minimum [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio			5,000
Reverse Stock Split [Member] \| Maximum [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio			6,000

Note 10 - Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Operating cash flows - operating lease	$ 965	$ 1,168
Weighted-average remaining lease term – operating lease (in years) (Year)	1 year 11 months 19 days	3 years 1 month 6 days
Operating lease cost	$ 747	$ 1,040
Financing cash flows - financing leases	$ 21	$ 0
Weighted-average discount rate – operating lease	380.00%	390.00%
Variable lease costs	$ 0	$ 0
Right-of-use asset obtained in exchange for operating lease liabilities	$ 0	86
Weighted-average remaining lease term – financing leases (in years) (Year)	2 years 8 months 1 day
Total operating lease cost	$ 747	1,040
Finance lease assets obtained in exchange for finance lease liabilities	$ 91	$ 0
Weighted-average discount rate – financing leases	900.00%	0.00%
Short-term lease rent expense	$ 34	$ 0
Amortization of leased assets	10	0
Interest on lease liabilities	3	0
Financing lease cost	13	0
Net lease cost	$ 794	$ 1,040

Note 7 - Stock-based Awards - Stock Option Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Outstanding, shares (in shares)

512

Outstanding, weighted average exercise price (in dollars per share)

$ 6.32

Outstanding, weighted average remaining contractual life (Year)

8 years 3 months 18 days

8 years 8 months 12 days

Outstanding, aggregate intrinsic value

^[1]

$ 0

Options (or units) granted in period (in shares)

105

Options (or units) granted in period, weighted average fair value (in dollars per share)

$ 3.4

Forfeited, shares (in shares)

(1)

Forfeited, weighted average exercise price (in dollars per share)

$ 4.07

Canceled, shares (in shares)

(50)

Canceled, weighted average exercise price (in dollars per share)

$ 14.7

Outstanding, shares (in shares)

566

512

Outstanding, weighted average exercise price (in dollars per share)

$ 5.05

$ 6.32

Exercisable, shares (in shares)

112

Exercisable, weighted average exercise price (in dollars per share)

$ 8.73

Exercisable, weighted average remaining contractual life (Year)

6 years 6 months

Exercisable, aggregate intrinsic value

^[1]

$ 0

[1]

Note 8 - Employee Benefit Plan (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 0	$ 0

Note 3 - Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2024

Financing Receivable, Current, Allowance for Credit Loss [Table Text Block]

	As of December 31,
	2024			2023
Balance, beginning of period	$	64		$	87
Provision for credit losses		48			(15	)
Write-offs		(75	)		(8	)
Balance, end of period	$	37		$	64

Note 7 - Stock-based Awards (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block]

Grant Date	Type	Shares		Weighted Average Fair Value Per Share (1)
January 22, 2024	Options		105	$	1.42
September 21, 2023	Options		120	$	1.66
August 17, 2023	Options		300	$	2.04
August 17, 2023	SUA		91	$	4.64

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

	Number of Shares			Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (years)		Aggregate Intrinsic Value⁽²⁾
Outstanding, December 31, 2023		512		$	6.32		8.7	$	-
Granted		105		$	3.40
Forfeited		(1	)	$	4.07
Canceled		(50	)	$	14.70
Outstanding, December 31, 2024		566		$	5.05		8.3	$	-

Exercisable, December 31, 2024		112		$	8.73		6.5	$	-

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

	Number of Shares			Weighted Average Grant-Date Fair Value per Share⁽³⁾
Outstanding & Unvested, December 31, 2023		140		$	5.23
Granted		-		$	0.0
Converted to common stock		(91	)	$	6.54
Cancelled		(6	)	$	6.52
Forfeited		(7	)	$	5.96
Outstanding & Unvested, December 31, 2024		36		$	5.01

Note 13 - Business Segment Reporting (Details Textual)	12 Months Ended
Note 13 - Business Segment Reporting (Details Textual)	Dec. 31, 2024
Number of Operating Segments	1
Number of Reportable Segments	1

Note 7 - Stock-based Awards - Summary of Shares Granted Under the 2006 Incentive Plan (Details)
shares in Thousands

12 Months Ended

Dec. 31, 2024

$ / shares

Options (or units) granted in period (in shares) | shares

105

Options (or units) granted in period, weighted average fair value (in dollars per share) | $ / shares

$ 3.4

January 22, 2024 [Member]

Options (or units) granted in period (in shares) | shares

105

Options (or units) granted in period, weighted average fair value (in dollars per share) | $ / shares

$ 1.42

^[1]

September 21, 2023 [Member]

Options (or units) granted in period (in shares) | shares

120

Options (or units) granted in period, weighted average fair value (in dollars per share) | $ / shares

$ 1.66

^[1]

August 17, 2023 [Member]

Options (or units) granted in period (in shares) | shares

300

Options (or units) granted in period, weighted average fair value (in dollars per share) | $ / shares

$ 2.04

^[1]

August 17, 2023 [Member] | Stock Unit Award [Member]

Options (or units) granted in period (in shares) | shares

Options (or units) granted in period, weighted average fair value (in dollars per share) | $ / shares

$ 4.64

^[1]

[1]

Note 12 - Other Expense (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Interest Expense, Operating and Nonoperating	$ 26	$ 17
Interest Income, Other	0	0
Settlement Expense	$ 2	$ 507

Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense.

+ References + Details

Note 6 - Preferred Stock

12 Months Ended

Dec. 31, 2024

Preferred Stock [Text Block]

6. Preferred Stock

The Board of Directors has the authority to designate authorized preferred shares in one or more series and to fix the relative rights and preferences without vote or action by the stockholders. The Board of Directors has no present plans to designate or issue any shares of preferred stock.

Consolidated Statements of Shareholders' Equity - 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, 2022	6,349
Balance at Dec. 31, 2022	$ 32	$ 34,275	$ (10,082)	$ (11,820)	$ (1,634)	$ 10,771
Balance (in shares) at Dec. 31, 2022			668
Shares issued – vested (in shares)	125
Shares issued – vested	$ 0	0		0	0	0
Tax withholding related to vested shares from employee stock plans	0	(54)	$ 0	0	0	(54)
Stock compensation expense	0	908	0	0	0	$ 908
Common Stock, Dividends, Per Share, Declared (in dollars per share)						$ 0.14
Cash dividends declared	0	0	0	(799)	0	$ (799)
Net loss	$ 0	0	0	(4,154)	0	(4,154)
Balance (in shares) at Dec. 31, 2023	6,474
Balance at Dec. 31, 2023	$ 32	35,129	$ (10,082)	(16,773)	(1,634)	$ 6,672
Balance (in shares) at Dec. 31, 2023			668			668
Shares issued – vested (in shares)	91
Shares issued – vested	$ 0	0	$ 0	0	0	$ 0
Stock compensation expense	0	917	0	0	0	917
Net loss	$ 0	0	0	(1,861)	0	(1,861)
Repurchase of common stock following reverse stock split, net of issuance costs (in shares)	(876)
Repurchase of common stock following reverse stock split, net of issuance costs	$ 0	(2,563)		0	0	(2,563)
Issuance of common stock, net of issuance costs (in shares)	1,089
Issuance of common stock, net of issuance costs	$ 1	1,933		0	0	1,934
Tax withholding related to vested shares from employee stock plans	$ 0	31	0	0	0	31
Balance (in shares) at Dec. 31, 2024	6,778
Balance at Dec. 31, 2024	$ 33	$ 35,447	$ (10,082)	$ (18,634)	$ (1,634)	$ 5,130
Balance (in shares) at Dec. 31, 2024			668			668

Note 11 - Debt and Other Financing Arrangements (Details Textual) - USD ($) $ in Thousands			12 Months Ended		68 Months Ended
	Dec. 02, 2019	Oct. 30, 2017	Dec. 31, 2024	Dec. 31, 2023	Dec. 04, 2019	May 31, 2024
Interest Expense, Operating and Nonoperating			$ 26	$ 17
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]		London Interbank Offered Rate [Member]
Insurance Financing Note [Member]
Debt Instrument, Interest Rate, Stated Percentage						7.25%
Interest Expense, Debt			7
Short-Term Debt			209			$ 709
Banc of America Leasing and Capital [Member] \| Equipment Loan Arrangement [Member] \| Line of Credit [Member]
Interest Expense, Operating and Nonoperating	$ 16,000
Debt Instrument, Term (Month)	60 months
Proceeds from Issuance of Long-Term Debt					$ 12,200
Repayments of Long-Term Debt			$ 300	$ 300
Long-Term Debt, Weighted Average Interest Rate, over Time			3.80%
Interest Expense, Debt			$ 5
Banc of America Leasing and Capital [Member] \| Equipment Loan Arrangement [Member] \| Line of Credit [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		1.75%
Banc of America Leasing and Capital [Member] \| Equipment Loan Arrangement [Member] \| Line of Credit [Member] \| Maximum [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.79%

Note 5 - Income Taxes - Components of Net Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Allowance for credit losses	$ 9	$ 15
Accrued expenses	136	154
Stock-based compensation	322	358
R&D tax credits	1,234	1,193
Operating lease	232	488
Capitalized research expenses	690	1,228
NOL carryforward	545	87
Gross Deferred Tax Assets	3,168	3,523
Valuation Allowance	(2,660)	(2,579)
Deferred Tax Assets After Valuation Allowance	508	944
Excess of tax over book depreciation and amortization	(233)	(447)
Prepaid expenses	(61)	(70)
Operating lease	(214)	(427)
Gross Deferred Tax Liabilities	(508)	(944)
Net Deferred Tax Assets	$ 0	$ 0

Note 5 - Income Taxes - Summary of Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Federal	$ (56)	$ 99
State	1	(75)
Total Current	(55)	24
Federal	0	146
State	0	546
Total Deferred	0	692
Income Tax Provision	$ (55)	$ 716

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Outstanding & Unvested, shares (in shares)

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current Assets:
Cash	$ 1,417	$ 1,964
Accounts receivable, net of allowance for credit losses of $37 and $64	2,500	3,687
Prepaid expenses and other current assets	997	1,136
Income tax receivable	24	18
Total Current Assets	4,938	6,805
Property and equipment:
Computer software	5,907	4,774
Office furniture and equipment	2,253	2,253
Laboratory equipment	12,342	16,038
Leasehold improvements	3,665	3,629
Total Property and equipment	24,167	26,694
Accumulated depreciation and amortization	(22,166)	(23,633)
Total Property and Equipment, net	2,001	3,061
Other assets	455	632
Operating lease right-of-use assets, net	844	1,828
Finance lease right-of-use asset, net	80	0
Total Assets	8,318	12,326
Current Liabilities:
Accounts payable	462	752
Accrued expenses	1,560	2,604
Insurance note payable	209	0
Equipment financing debt	0	305
Current portion of finance lease liability	28	0
Current portion of operating lease liabilities	452	1,048
Total Current Liabilities	2,711	4,709
Long-term portion of operating lease liabilities	424	945
Long-term portion of finance lease liability	53	0
Total Liabilities	3,188	5,654
Commitments and Contingencies
Shareholders' Equity:
Preferred stock, $0.005 par value, 873 shares authorized, no shares issued or outstanding	0	0
Common stock, $0.005 par value; 50,000 shares authorized, 6,778 shares and 6,474 shares issued at December 31, 2024 and 2023, respectively, 6,110 shares outstanding and 5,806 shares outstanding at December 31, 2024 and 2023, respectively	33	32
Additional paid-in capital	35,447	35,129
Less - Treasury stock, at cost, 668 shares	(10,082)	(10,082)
Accumulated deficit	(18,634)	(16,773)
Accumulated other comprehensive loss	(1,634)	(1,634)
Total Shareholders' Equity	5,130	6,672
Total Liabilities and Shareholders' Equity	$ 8,318	$ 12,326

Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenues	$ 19,685	$ 22,098
Cost of revenues	12,584	13,685
Gross profit	7,101	8,413
Operating Expenses:
General and administrative	5,695	7,192
Marketing and selling	2,550	2,998
Research and development	749	1,144
Total Operating Expenses	8,994	11,334
Operating Loss	(1,893)	(2,921)
Other Expense:
Settlements	2	507
Other expense	(21)	(10)
Total Other Expense	(23)	(517)
Net loss before provision for (benefit from) income taxes	(1,916)	(3,438)
Provision for (benefit from) income taxes	(55)	716
Net loss and comprehensive loss	$ (1,861)	$ (4,154)
Basic and diluted net loss per share (in dollars per share)	$ (0.32)	$ (0.72)
Weighted average common shares outstanding
Basic (in shares)	5,867	5,740
Diluted (in shares)	5,867	5,740

Note 7 - Stock-based Awards - Nonvested Award Activity (Details) - Stock Unit Award [Member] - $ / shares
shares in Thousands

12 Months Ended

Aug. 17, 2023

Dec. 31, 2024

140

Outstanding & Unvested, weighted average grant-date fair value (in dollars per share)

^[1]

$ 5.23

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period

Granted, weighted average grant-date fair value (in dollars per share)

^[1]

$ 0

Converted to common stock, shares (in shares)

(91)

Converted to common stock, weighted average grant-date fair value (in dollars per share)

^[1]

$ 6.54

Cancelled, shares (in shares)

(6)

Cancelled, weighted average grant-date fair value (in dollars per share)

^[1]

$ 6.52

Forfeited, shares (in shares)

(7)

Forfeited, weighted average grant-date fair value (in dollars per share)

^[1]

$ 5.96

Outstanding & Unvested, shares (in shares)

Outstanding & Unvested, weighted average grant-date fair value (in dollars per share)

^[1]

$ 5.01

[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 transaction type. The weighted average fair value is the weighted average share price times the number of shares.

Note 2 - Summary of Significant Accounting Policies - Share-Based Payment Arrangement, Cost by Plan (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Options (in shares)	602	652
Share-Based Payment Arrangement, Option [Member]
Options (in shares)	566	512
Stock Unit Awards [Member]
Options (in shares)	36	140

Note 4 - Accrued Expenses

12 Months Ended

Dec. 31, 2024

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

4. Accrued Expenses

Accrued expenses consist of the following (in thousands):

	As of December 31,
	2024		2023
Accrued compensation and employee benefits	$	339	$	640
Accrued vacation expense		360		317
Accrued taxes		25		553
Accrued shipping expense		113		113
Accrued legal settlement		-		167
Other accrued expenses		723		814
Total Accrued Expenses	$	1,560	$	2,604

Note 3 - Accounts Receivable

12 Months Ended

Dec. 31, 2024

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

3. Accounts Receivable

We maintain an allowance for credit losses based on management’s assessment of the collectability of our customer accounts by reviewing customer payment patterns and other relevant factors. We review the adequacy of the allowance for credit losses on a quarterly basis and adjusts the balance as determined necessary. Write-offs are recorded at the time a customer account is deemed uncollectable. The following is a rollforward of our allowance for credit losses (in thousands):

	As of December 31,
	2024			2023
Balance, beginning of period	$	64		$	87
Provision for credit losses		48			(15	)
Write-offs		(75	)		(8	)
Balance, end of period	$	37		$	64

Note 11 - Debt and Other Financing Arrangements

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Text Block]

11. Debt and Other Financing Arrangements

On March 20, 2014, we entered into an equipment financing arrangement with Banc of America Leasing & Capital, LLC (the “Lender”), which it amended on various dates, most recently on March 23, 2021, including a Master Loan and Security Agreement and related documentation (collectively the “Equipment Loan Arrangement”) which provided us with the ability to finance, at our option, up to $16 million of new and used equipment purchases. Each such purchase financed under the Equipment Loan Arrangement was documented by the execution of an equipment note with a maturity date of 60 months from the applicable loan date. The loans bore interest at the then current 30-day LIBOR rate plus a premium ranging from 1.75% to 3.79%. Principal and interest were payable over the 60 month repayment period. Borrowings under the Equipment Loan Arrangement were secured by a first priority security interest in the equipment acquired with the proceeds of the equipment notes. Under the Equipment Loan Arrangement, we had been subject to a maximum quarterly funded debt to EBITDA ratio and a minimum fixed charge coverage ratio each of which was waived for certain quarters in 2023 and 2024. As of December 31, 2024, the loan was fully repaid, and ongoing compliance with these financial covenants are no longer required.

Under the Equipment Loan Arrangement, we executed notes on various dates between March 24, 2014, and December 4, 2019 in the aggregate amount of $12.2 million, of which $0.3 million was repaid in 2024 and 2023, respectively. As of December 31, 2024, the aggregate amount outstanding under the equipment notes was paid in full. The weighted average interest rate for these notes for the year ended December 31, 2024, was 3.8% and represented $5 thousand of interest expense.

In May 2024, the Company entered into a note agreement to finance certain insurance policy premiums of $709 thousand at an annual interest rate of 7.25% (the “Insurance Financing Note”). The Insurance Financing Note is payable in monthly installments through May 2025.

The Company accrued $7 thousand in interest expenses related to the Insurance Financing Note for 2024. As of December 31, 2024, the balance on the Insurance Financing Note was $209 thousand on the Company’s consolidated balance sheet.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Note 13 - Business Segment Reporting

12 Months Ended

Dec. 31, 2024

Segment Reporting Disclosure [Text Block]

13. Business Segment Reporting

We manage our business activities on a consolidated basis and operate as a single operating and reportable segment. As a result, the financial information disclosed herein materially represents all financial information related to our principal operating segment. Our Chief Executive Officer (“CEO”) serves as the chief operating decision maker and uses Net Income, as reported on our consolidated statements of operations and comprehensive loss, to assess financial performance and allocate resources on a consolidated basis.

The CEO evaluates the results of our operations on a consolidated basis and uses Net Income to make key operating decisions, such as strategic acquisitions, transaction structures to capitalize on the development of properties underlying our mineral interests, and resource allocation for general and administrative expenditures. The CEO does not review consolidated balance sheet assets when assessing segment performance or determining resource allocation. All significant expenses are presented separately on the Company’s consolidated statements of operations and comprehensive loss.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Note 1 - Nature of Business

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

1. Nature of Business

Company Overview

Psychemedics Corporation (the “Company,” “we,” “us,” or “our”) provides hair testing for drugs of abuse, utilizing a patented hair analysis method involving digestion of hair, enzyme immunoassay and mass spectrometry to analyze hair to detect abused substances. Our customers include Fortune 500 companies, as well as small to mid-size corporations, schools and governmental entities located in the United States and Internationally.

On November 25, 2024, Psychemedics Corporation (the “Company”) held a Special Meeting of Stockholders (the “Special Meeting”), at which stockholders approved amendments (the “Amendments”) to the Company’s Certificate of Incorporation to effect a reverse stock split, followed immediately by a forward stock split, of the Company’s common stock at a ratio (i) not less than 1-for-5,000 and not greater than 1-for-6,000 in the case of the reverse stock split, and (ii) not less than 5,000-for-1 and not greater than 6,000-for-1 in the case of the forward stock split. Upon approval of the Amendments at the Special Meeting, on December 3, 2024, the Company’s Board of Directors (the “Board”) determined to effectuate the reverse stock split at the ratio of 1-for-5,000 and the forward stock split at the ratio of 5,000-for-1 (collectively, the “Stock Split Ratios”), which were within the approved ranges, at a price of $2.35 per share. The Company subsequently filed the Amendments with the Delaware Secretary of State to effectuate the stock splits.

On December 3, 2024, the Company completed the financing transaction, during which the Company issued a total of 1,089,004 shares to 3K Limited Partnership (“3K”) an affiliate of Peter Kamin, a director of the Company, to support both the estimated cash-out amount and working capital funding. Initially, the total financing amount was expected to be $3.3 million, with $2.8 million allocated for the cash-out (or 1,196,946 shares) and $500 thousand for working capital (or 212,766 shares). The total cash-out cost associated with the reverse and forward stock splits was approximately $2.6 million. This amount included $2.1 million in cash payments for the repurchase of 876,238 shares, calculated at a price of $2.35 per share prior to the Reverse Stock Split. Additionally, $500 thousand was allocated for working capital, resulting in a net reduction of $754 thousand. As a result of these transactions, the Company issued an excess of 320,708 shares beyond the initially required amount. As part of a true-up process, the Company repurchased these 320,708 excess shares from 3K at $2.35 per share. Following the reverse stock split, the total number of shares outstanding after the true-up and the repurchase was 6,107,227, reflecting an increase of 212,765 shares due to the working capital funding provided by 3K. This financing and share issuance allowed the Company to meet its cash-out obligations while maintaining the agreed-upon funding levels.

The stock splits and repurchase had the effect of reducing the number of record holders of the Company’s common stock below 300, which is the threshold at or above which the Company is required to file reports with the Securities and Exchange Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The actions taken by the Company to suspend its reporting obligations under the Exchange Act—including effectuating the stock splits, delisting the Company’s common stock from trading on The Nasdaq Stock Market LLC (“Nasdaq”), terminating the registration of the Company’s common stock under Sections 12(b) and 12(g) of the Exchange Act, and suspending its reporting obligations under Section 15(d) of the Exchange Act—are collectively referred to as the “Transaction.” The stock splits were undertaken as part of the Company’s plan to give effect to the Transaction.

As a result of the Transaction, the Company will no longer be subject to the reporting requirements under the Exchange Act or other requirements applicable to a public company, including requirements under the Sarbanes-Oxley Act of 2002 and the listing standards of any national securities exchange.

Psychemedics will continue to actively work with our ownership interests to seek monetization opportunities.

Liquidity and Management’s Plans

As of December 31, 2024, our principal sources of liquidity from operations included $1.4 million of cash on hand. During the year, we completed the Transaction, which provided $2.6 million in funding, consisting of $2.1 million for the cash-out of shares as part of the reverse stock split and $500 thousand for working capital purposes at a price of $2.35 per share. As of the date of this report, management currently believes that cash on hand, together with future operating profits and cashflows, should be adequate to fund anticipated working capital requirements, including debt obligations, and capital expenditures for at least the next 12 months. However, we have no existing equipment financing arrangement, line of credit or other fixed source of capital reserves. Depending upon our results of operations, future capital needs, and available market opportunities, we may need to seek additional financing. Such sources could include, but are not limited to, the issuance of common stock or debt financing, lines of credit, equipment leasing, or a strategic transaction. However, there is no assurance that such financing will be available on terms we deem acceptable, if at all. If we are unable to maintain sufficient financial resources, our business, financial condition, and results of operations would be materially adversely affected.

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
Trading Arrangements, by Individual [Table]
Material Terms of Trading Arrangement [Text Block]	Item 9B. Other Information Not Applicable.
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 2 - Summary of Significant Accounting Policies - Summary of Stock Compensation Expense by Income Statement Account (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Total stock compensation	$ 917	$ 908
Cost of Sales [Member]
Total stock compensation	(3)	40
General and Administrative Expense [Member]
Total stock compensation	829	756
Selling and Marketing Expense [Member]
Total stock compensation	33	47
Research and Development Expense [Member]
Total stock compensation	$ 58	$ 65

Note 2 - Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenues	$ 19,685	$ 22,098
UNITED STATES
Revenues	18,641	21,216
Non-US [Member]
Revenues	1,044	882
Testing [Member]
Revenues	16,670	18,661
Shipping/Collection (Hair) [Member]
Revenues	2,899	3,316
Other Revenue [Member]
Revenues	$ 116	$ 121

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

Note 10 - Leases

12 Months Ended

Dec. 31, 2024

Lessee, Operating Leases and Finance Leases [Text Block]

10. Leases

As of December 31, 2024, the Company has three operating leases for office and laboratory space used to conduct business. The exercise of lease renewal options is at the Company’s discretion, with one lease containing renewal options that are reasonably certain to be exercised. These renewal options are included in the Right-of-Use ("ROU") assets and lease liabilities. The Company regularly evaluates the renewal options to determine when they are reasonably certain of exercise.

Since most of the Company's leases do not provide an implicit interest rate, the Company uses the incremental borrowing rate based on information available at the lease commencement date to determine the net present value (“NPV”) of the lease payments.

In August 2024, the Company entered into a three-year finance lease for certain IT equipment. The Company measured and recognized an initial right-of-use (“ROU”) asset and finance lease liability upon lease commencement.

At December 31, 2024 and 2023, ROU assets and lease liabilities were as follows:

		As of December 31,
		2024		2023
Assets:	Classification
Operating lease right-of-use-asset	Operating lease asset	$	844	$	1,828
Financing lease right-of-use-asset	Equipment, net		80		-
		$	924	$	1,828

Liabilities:
Current	Classification
Operating	Operating lease liability	$	452	$	1,048
Financing	Financing lease liability		28		-
Long-term
Operating	Long-term portion of operating leases liability		424		945
Financing	Long-term portion of financing leases liability		53		-
		$	957	$	1,993

The following tables summarize quantitative information about the Company’s leases for the year ended December 31, 2024 and 2023:

	Year Ended December 31,
	2024		2023
Operating cash flows - operating lease	$	965	$	1,168
Financing cash flows - financing leases	$	21	$	-

Right-of-use asset obtained in exchange for operating lease liabilities	$	-	$	86
Finance lease assets obtained in exchange for finance lease liabilities	$	91	$	-

	As of December 31,
	2024			2023
Weighted-average remaining lease term – operating lease (in years)		1.97			3.10
Weighted-average discount rate – operating lease		3.8	%		3.9	%
Weighted-average remaining lease term – financing leases (in years)		2.67			-
Weighted-average discount rate – financing leases		9.0	%		-

The components of lease expense were as follows (in thousands):

	Year Ended December 31,
	2024		2023
Operating leases
Operating lease cost	$	747	$	1,040
Variable lease costs		-		-
Total operating lease cost		747		1,040
Short-term lease rent expense		34		-
Financing leases
Amortization of leased assets		10		-
Interest on lease liabilities		3		-
Financing lease cost		13		-
Net lease cost	$	794	$	1,040

As of December 31, 2024, future minimum lease payments under the non-cancelable leases were as follows:

	Operating Leases			Finance Leases

Year Ending December 31, 2025	$	479		$	35
Year Ending December 31, 2026		478			35
Year Ending December 31, 2027		-			22
Total		957			92
Less present value discount		(81	)		(11	)
Operating lease liabilities	$	876		$	81

Note 2 - Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Table Text Block]

Computer software	3 to 5 years
Office furniture and equipment	3 to 7 years
Laboratory equipment	5 to 7 years
Leasehold improvements	Lesser of estimated useful life or lease term

Disaggregation of Revenue [Table Text Block]

	Year Ended December 31,
	2024		2023
Consolidated Revenue:
Testing	$	16,670	$	18,661
Shipping / Collection (hair)		2,899		3,316
Other		116		121
Total Revenue	$	19,685	$	22,098

	Year Ended December 31,
	2024		2023
Consolidated Revenue:
United States	$	18,641	$	21,216
International		1,044		882
Total Revenue	$	19,685	$	22,098

Schedule of Stock Based Compensation Expense [Table Text Block]

	Year Ended December 31,
	2024			2023
Cost of revenues	$	(3	)	$	40
General & administrative		829			756
Marketing & selling		33			47
Research & development		58			65
Total stock compensation	$	917		$	908

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	2024		2023
Weighted average common shares outstanding, basic		5,867		5,740
Dilutive common equivalent shares		-		-
Weighted average common shares outstanding, assuming dilution		5,867		5,740

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	2024		2023
Options		566		512
SUAs		36		140
		602		652

Note 10 - Leases - Right-of-use Asset and Lease Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating lease right-of-use-asset	$ 844	$ 1,828
Financing lease right-of-use-asset	80	0
Lease, Right-of-Use Asset	924	1,828
Operating lease liability	452	1,048
Financing lease liability	28	0
Long-term portion of operating lease liabilities	424	945
Long-term portion of financing leases liability	53	0
Lease, Liability	$ 957	$ 1,993

Note 2 - Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2024

Significant Accounting Policies [Text Block]

2. Summary of Significant Accounting Policies

Risks and Uncertainties

Estimates

Cash and Cash Equivalents

Property and Equipment

Computer software	3 to 5 years
Office furniture and equipment	3 to 7 years
Laboratory equipment	5 to 7 years
Leasehold improvements	Lesser of estimated useful life or lease term

Leases

Capitalized Software Development Costs

Other Assets

Allowance for Credit Losses

Revenue Recognition

The table below disaggregates our external revenue by major source (in thousands):

	Year Ended December 31,
	2024		2023
Consolidated Revenue:
Testing	$	16,670	$	18,661
Shipping / Collection (hair)		2,899		3,316
Other		116		121
Total Revenue	$	19,685	$	22,098

Our revenues by geographic region, based on the location of the customer, were as follows (in thousands):

	Year Ended December 31,
	2024		2023
Consolidated Revenue:
United States	$	18,641	$	21,216
International		1,044		882
Total Revenue	$	19,685	$	22,098

Testing Revenue

Revenue is measured as the amount of consideration we expect to receive in exchange for providing services. Sales taxes we pay concurrent with revenue-producing activities are excluded from revenue.

Shipping and Hair Collection Revenue

Other Revenue

Practical Expedients and Exemptions

Research and Development Expenses

We expense all research and development costs as incurred.

Contingencies

Income Taxes

Concentration of Credit Risk and Off-Balance Sheet Risk

Significant Customers and Concentration of Credit Risk

Stock-Based Compensation

Stock compensation expense by statements of operations account is as follows (in thousands):

	Year Ended December 31,
	2024			2023
Cost of revenues	$	(3	)	$	40
General & administrative		829			756
Marketing & selling		33			47
Research & development		58			65
Total stock compensation	$	917		$	908

See Note 7 – “Stock-Based Awards” to the Consolidated Financial Statements included in this Annual Report for additional information relating to our stock plan.

Basic and Diluted Net Loss per Share

Basic and diluted weighted average common shares outstanding are as follows (in thousands):

	2024		2023
Weighted average common shares outstanding, basic		5,867		5,740
Dilutive common equivalent shares		-		-
Weighted average common shares outstanding, assuming dilution		5,867		5,740

The following outstanding common stock equivalents were not included in the dilutive common equivalent share calculation as their effect would have been anti-dilutive (in thousands):

	2024		2023
Options		566		512
SUAs		36		140
		602		652

Fair Value Measurements

Basis of Preparation and Consolidation

Segment Reporting

Recently Adopted Accounting Pronouncements

Note 9 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2024