Paysign Stock Earnings Reports

Paysign reported a very strong start to 2026 with Q1 revenue up 50.8% year-over-year to $28.0M and net income rising 110% to $5.4M. Adjusted EBITDA doubled (+113%) to $10.6M and operating margin expanded ~1,040 basis points to 23.8%, highlighting significant operating leverage as the business scales. Key drivers: patient affordability (pharma) revenue grew 81.9% to $15.7M with ~49% higher claim volume and $540M+ in patient financial assistance deployed; pharma surpassed plasma as the largest revenue contributor. Pharma program count continues to ramp (135 at quarter end, 141 at time of call, expected 147–150 by quarter-end), with a healthy pipeline and roughly a 50/50 split expected between new clients and added programs from existing clients. Plasma revenue grew 24.9% to $11.7M; active centers were 573 at quarter end but are expected to decline to ~555–560 due to customer consolidation/closures (management does not expect these closures to materially impact results as donors migrate to nearby centers). Cash position is strong with $20.5M unrestricted cash, no bank debt, and $159M restricted cash related to program deposits; the company has a $6M remaining contingent payment to Gamma. Management reiterated full-year 2026 guidance: revenue $106.5M–$110.5M (30–35% growth), gross margins ~60–62%, net income $13M–$16M ($0.21–$0.26 per diluted share) and adjusted EBITDA $30M–$33M. Progress on SaaS/app for plasma centers continues (discussions with FDA ongoing); no revenue yet from that product. Seasonal dynamics remain important: pharma tends to peak in Q1 (deductible resets) while plasma typically ramps later in the year. Management emphasized disciplined scaling, a robust pharma pipeline, international SaaS opportunities, and potential uses for cash (M&A or shareholder returns) though no repurchases were executed this quarter.