Paysign, Inc.
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Range $15 – $15
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About the company
Paysign, Inc. provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. The company offers solutions for corporate rewards, prepaid gift cards, general-purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card and software solutions.
- CEO
- Mark Newcomer
- IPO
- 2007
- Employees
- 226
- HQ
- Henderson, NV, US
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- Market Cap
- $818.74M
- P/E
- 51.37
- Fwd P/E
- 42.45
- PEG
- 0.42
- P/S
- 8.14
- P/B
- 13.60
- EV/EBITDA
- 29.44
- Div Yield
- 0.00%
- Gross Margin
- 56.18%
- Op Margin
- 17.01%
- Net Margin
- 15.67%
- ROE
- 30.13%
- ROIC
- 19.33%
Latest fiscal year · YoY change
- Revenue
- $82.03M+40.5%
- Gross Profit
- $40.40M+25.5%
- Op Income
- $7.24M
- Net Income
- $7.55M+97.9%
- EPS
- $0.14+95.3%
- OCF Growth
- +128.6%
- FCF Growth
- +280.7%
- 52W High
- $14.93
- 52W Low
- $3.08
- 50D MA
- $12.44
- 200D MA
- $7.40
- Beta
- 0.80
- RSI (14)
- 67
- Avg Volume
- 737.45K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Paysign reported a record first quarter, with revenue, profit, and margins all accelerating as patient affordability became the largest revenue contributor.· May 12, 2026
- Revenue rose 50.8% year over year to $28 million, above the top of guidance.
- Net income increased 110% to $5.4 million and adjusted EBITDA rose 113% to $10.6 million.
- Patient affordability revenue grew 81.9% to $15.7 million, and Pharma became the largest revenue contributor for the first time.
- Gross margin expanded to 65% from 62.9%, while operating margin improved to 23.8% from 13.4%.
- Management raised confidence in reaching the upper end of full-year 2026 guidance and said the pipeline remains robust.
Q1 2026 revenue was $28 million, up 50.8% year over year, with net income of $5.4 million, or $0.09 per diluted share, versus $2.6 million, or $0.05 per diluted share, in Q1 2025. Adjusted EBITDA was $10.6 million, or $0.17 per diluted share, up 113.4% from $5 million, and gross margin expanded to 65% from 62.9%. For the quarter, Pharma revenue increased 81.9% to $15.7 million and Plasma revenue increased 24.9% to $11.7 million. Full-year 2026 guidance was maintained at revenue of $106.5 million to $110.5 million, gross margin of 60% to 62%, net income of $13 million to $16 million, and adjusted EBITDA of $30 million to $33 million; management said it is increasingly confident in the upper end of those ranges. For Q2, the company expects to exit with 147 to 150 active patient affordability programs and 555 to 560 plasma centers.
Mark Newcomer described Q1 as the strongest start to a year in company history and said the quarter validated Paysign’s strategy of building purpose-built platforms with operating discipline. He emphasized the scale and durability of the patient affordability business, noting strong program growth, a robust pipeline, and continued momentum coming out of Assembia. He also said the plasma SaaS effort and broader international opportunities remain longer-term growth avenues, though the FDA discussion is still ongoing.
Jeffery Baker said the quarter showed meaningful operating leverage: cost of revenues rose 42.2% and operating expenses rose 25.5%, both below the 50.8% revenue growth rate. He pointed to gross margin of 65%, operating margin of 23.8%, adjusted EBITDA margin of 37.8%, and unrestricted cash of $20.5 million with no bank debt. He also noted restricted cash of $159 million, mainly from customer program deposits and funds on card, and said the only remaining cash obligation is about $6 million related to Gamma, to be paid annually on the next 3 March anniversary dates. Baker said there were no share repurchases in the quarter and that cash is being held for possible acquisitions or redistribution to shareholders until a better use is found.
Analysts focused on program growth, plasma center closures, margin sustainability, the SaaS/app initiative, and cash deployment. Management said the pharma pipeline is roughly 50/50 between new clients and growth within existing clients, that it expects to exceed the 55 net program adds achieved in 2025, and that the system has enough capacity to handle more growth. On plasma, management said the 19-center closure should not hurt revenue because affected cardholders should transition to nearby centers, and that plasma revenue should still grow sequentially and through the rest of the year. On the SaaS/app, Mark Newcomer said discussions with the FDA are ongoing and that there is currently no revenue from it.
The call showed strong execution across both main businesses, with Pharma scaling quickly enough to become the largest revenue contributor and plasma showing signs of recovering from prior industry inventory pressure. Management was notably confident about the pipeline, capacity, and full-year targets, while also highlighting a larger cash balance and no bank debt.
The Q2 outlook still implies seasonality and a mix shift that management said will reduce margins versus the first quarter, especially as Pharma claims moderate and plasma becomes a larger share of revenue. The SaaS/app opportunity is not yet revenue-generating and remains tied to FDA discussions, while plasma center closures and underperforming centers remain a business reality even if management expects little financial impact.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 61.1%
- Shares Outstanding
- 55.91M
- Float Shares
- 34.17M
of shares held by institutions
114 13F filers
Buy/sell ratio 0.38. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Topline Capital Management, LLC | 4.64M | 0 |
| Blackrock, Inc. | 3.08M | ▲ 727.56K |
| Punch & Associates Investment Management, Inc. | 2.07M | ▲ 15.37K |
| Vanguard Group Inc | 1.87M | ▲ 45.95K |
| Vanguard Capital Management LLC | 1.60M | ▲ 111.42K |
| Thompson Siegel & Walmsley LLC | 1.41M | ▼ 253.10K |
| Renaissance Technologies LLC | 1.07M | ▼ 457.29K |
| Geode Capital Management, LLC | 1.05M | ▲ 217.56K |
| Palisades Investment Partners, LLC | 1.00M | ▲ 6.86K |
| Arrowstreet Capital, Limited Partnership | 904.50K | ▲ 868.51K |
| State Street Corp | 843.66K | ▲ 199.19K |
| Awm Investment Company, Inc. | 800.97K | ▲ 415.00K |
Held by 129 ETFs
Biggest fund positions in PAYS by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Sep 15, 26 | Herman Joan M | sell | 21,004 |
| Sep 16, 26 | Herman Joan M | sell | 38,900 |
| Sep 8, 26 | Ngo Michael C | sell | 70,075 |
| Sep 9, 26 | Ngo Michael C | sell | 79,925 |
| Mar 19, 25 | Ngo Michael C | other | 2,500,000 |
| Mar 19, 25 | Ngo Michael C | other | 500,000 |
| Mar 31, 26 | Ngo Michael C | other | 38,664 |
| Mar 19, 25 | Ngo Michael C | other | 0 |
| Nov 13, 25 | Turner Matthew Baker | other | 233,333 |
| Feb 3, 26 | Turner Matthew Baker | sell | 15,057 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our PAYS coverage
Recent articles, reports, and earnings notes.
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Generate PAYS report →Bank of America Corp DE Makes New $335,000 Investment in Paysign, Inc. $PAYS
defenseworld.net · Oct 5
Paysign (NASDAQ:PAYS) Shares Climb 7.1% – Here’s Why
defenseworld.net · Oct 3
BlackRock Inc. Buys Shares of 3,079,208 Paysign, Inc. $PAYS
defenseworld.net · Sep 3
Paysign Targets $117M Revenue as Patient-Affordability Business Surges
marketbeat.com · Aug 28
Paysign (PAYS) is an Incredible Growth Stock: 3 Reasons Why
zacks.com · Aug 26
Paysign (PAYS) Upgraded to Buy: What Does It Mean for the Stock?
zacks.com · Aug 26
Are Business Services Stocks Lagging Paysign (PAYS) This Year?
zacks.com · Aug 13
Paysign, Inc. $PAYS Shares Acquired by Dimensional Fund Advisors LP
defenseworld.net · Aug 13
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