Key international demographics aids and helps the company
Psychemedics’ total revenue by major source for the nine months ended September 2021 is disaggregated as follows; testing (88.1%), shipping/collection (hair) (11.2%) and other (0.7%). Moreover, the company derives the majority of its revenue from the United States, and revenue from the United States comprised 93.9% of total company revenue for the nine months ended September 2021. Brazil is also a significant source of company revenue, making up 3.5% of total revenue for the same period. The company had no customers that represented over 10.0% of revenue during the nine months in 2021.
Competition|StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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