Paysign, Inc. Reports Second Quarter 2024 Financial Results
Paysign, Inc. (NASDAQ: PAYS) reported strong Q2 2024 financial results, with total revenues up 29.8% to $14.33 million compared to Q2 2023. The company saw significant growth in both its plasma and pharma patient affordability businesses. Net income improved to $697,000, or $0.01 per diluted share, from a net loss in the same period last year. Adjusted EBITDA increased 95.8% to $2.24 million.
Key highlights include:
- Plasma revenue up 12.6%, with 477 centers at quarter-end
- Pharma patient affordability revenue up 266.8%, with 61 active programs
- Gross profit margin increased to 52.9%, up 207 basis points
- Unrestricted cash of $31.29 million and zero debt
Based on strong performance, Paysign raised its full-year 2024 guidance, now expecting total revenues between $56.5-$58.5 million and adjusted EBITDA of $9.0-$10.0 million.
Paysign, Inc. (NASDAQ: PAYS) ha riportato risultati finanziari molto positivi per il secondo trimestre del 2024, con un aumento del fatturato totale del 29,8%, arrivando a 14,33 milioni di dollari rispetto al secondo trimestre del 2023. L'azienda ha registrato una crescita significativa sia nel settore del plasma che nel settore della affordabilità per i pazienti farmaceutici. Il reddito netto è migliorato a 697.000 dollari, ovvero 0,01 dollari per azione diluita, rispetto a una perdita netta nello stesso periodo dell'anno scorso. L'EBITDA rettificato è aumentato del 95,8%, arrivando a 2,24 milioni di dollari.
I punti salienti includono:
- Entrate dal plasma aumentate del 12,6%, con 477 centri alla fine del trimestre
- Entrate sull'affordabilità per i pazienti farmaceutici aumentate del 266,8%, con 61 programmi attivi
- Margine di profitto lordo aumentato al 52,9%, con un incremento di 207 punti base
- Disponibilità di cassa illimitata di 31,29 milioni di dollari e zero debiti
In base alle forti performance, Paysign ha aumentato le previsioni per l'intero anno 2024, ora aspettandosi entrate totali tra 56,5 e 58,5 milioni di dollari e un EBITDA rettificato tra 9,0 e 10,0 milioni di dollari.
Paysign, Inc. (NASDAQ: PAYS) reportó resultados financieros sólidos para el segundo trimestre de 2024, con ingresos totales aumentaron un 29,8% alcanzando los 14,33 millones de dólares en comparación con el segundo trimestre de 2023. La compañía vio un crecimiento significativo tanto en su negocio de plasma como en el de asequibilidad para pacientes farmacéuticos. El ingreso neto mejoró a 697,000 dólares, o 0,01 dólares por acción diluida, tras una pérdida neta en el mismo periodo del año pasado. El EBITDA ajustado aumentó un 95,8% alcanzando los 2,24 millones de dólares.
Los puntos destacados incluyen:
- Los ingresos del plasma aumentaron un 12,6%, con 477 centros al final del trimestre
- Los ingresos por asequibilidad de pacientes farmacéuticos aumentaron un 266,8%, con 61 programas activos
- El margen de ganancia bruta aumentó al 52,9%, subiendo 207 puntos básicos
- Dinero disponible sin restricciones de 31,29 millones de dólares y sin deudas
Basándose en un rendimiento sólido, Paysign elevó su orientación para el año completo 2024, ahora esperando ingresos totales entre 56,5 y 58,5 millones de dólares y un EBITDA ajustado de 9,0 a 10,0 millones de dólares.
Paysign, Inc. (NASDAQ: PAYS)은 2024년 2분기 재무 결과를 발표했으며, 총 수익이 29.8% 증가하여 1,433만 달러에 달했습니다 2023년 2분기와 비교했을 때. 이 회사는 혈장과 제약 환자 적정 비율 사업 모두에서 상당한 성장을 보였습니다. 순이익은 697,000달러로 개선되었습니다, 즉 희석 주당 0.01달러이며, 작년 같은 기간의 순손실에서 벗어났습니다. 조정된 EBITDA는 95.8% 증가하여 224만 달러에 달했습니다.
주요 사항은 다음과 같습니다:
- 혈장 수익은 12.6% 증가했으며, 분기 말 기준으로 477개의 센터가 있습니다
- 제약 환자 저렴성 사업 수익은 266.8% 증가했으며, 61개의 활성 프로그램이 있습니다
- 총 이익률은 52.9%로 증가했으며, 207bp 상승했습니다
- 제한 없는 현금이 3,129만 달러이고, 부채는 없습니다
강력한 실적을 바탕으로 Paysign은 2024년 전체 연간 가이던스를 상향 조정했으며, 이제 총 수익이 5,650만 달러에서 5,850만 달러 사이와 조정된 EBITDA가 900만 달러에서 1,000만 달러 사이로 예상하고 있습니다.
Paysign, Inc. (NASDAQ: PAYS) a annoncé de solides résultats financiers pour le deuxième trimestre 2024, avec des revenus totaux en hausse de 29,8% à 14,33 millions de dollars par rapport au deuxième trimestre 2023. La société a connu une croissance significative dans ses activités liées au plasma et à l'accessibilité des patients en pharmacie. Le revenu net a augmenté à 697 000 dollars, soit 0,01 dollar par action diluée, contre une perte nette à la même période l’année dernière. Le EBITDA ajusté a augmenté de 95,8% pour atteindre 2,24 millions de dollars.
Les faits saillants incluent :
- Les revenus du plasma ont augmenté de 12,6 %, avec 477 centres à la fin du trimestre
- Les revenus liés à l'accessibilité pharmaceutique des patients ont augmenté de 266,8 %, avec 61 programmes actifs
- La marge brute est passée à 52,9 %, soit une hausse de 207 points de base
- Des liquidités non restreintes de 31,29 millions de dollars et aucune dette
Sur la base de cette performance solide, Paysign a relevé ses prévisions pour l'année 2024, s'attendant maintenant à des revenus totaux compris entre 56,5 et 58,5 millions de dollars et un EBITDA ajusté de 9,0 à 10,0 millions de dollars.
Paysign, Inc. (NASDAQ: PAYS) hat starke Finanzresultate für das zweite Quartal 2024 gemeldet, mit einem Anstieg des Gesamtumsatzes um 29,8% auf 14,33 Millionen Dollar im Vergleich zum zweiten Quartal 2023. Das Unternehmen verzeichnete ein signifikantes Wachstum in seinen Geschäftsbereichen Plasma und Pharma-Patientenaffordabilität. Der Nettogewinn verbesserte sich auf 697.000 Dollar, oder 0,01 Dollar pro verwässerter Aktie, nach einem Nettoverlust im selben Zeitraum des Vorjahres. Das bereinigte EBITDA stieg um 95,8% auf 2,24 Millionen Dollar.
Zu den wichtigsten Höhepunkten gehören:
- Plasma-Umsatz um 12,6% gestiegen, mit 477 Zentren zum Quartalsende
- Umsatz aus Pharma-Patientenaffordabilität um 266,8% gestiegen, mit 61 aktiven Programmen
- Die Bruttogewinnmarge stieg auf 52,9%, was einem Anstieg von 207 Basispunkten entspricht
- Unbeschränkte liquiden Mittel in Höhe von 31,29 Millionen Dollar und keine Schulden
Aufgrund der starken Leistung hat Paysign seine Umsatzprognose für das Gesamtjahr 2024 angehoben und erwartet nun einen Gesamtumsatz zwischen 56,5 und 58,5 Millionen Dollar sowie ein bereinigtes EBITDA von 9,0 bis 10,0 Millionen Dollar.
- Total revenues increased 29.8% year-over-year to $14.33 million
- Net income improved to $697,000 from a net loss in Q2 2023
- Adjusted EBITDA grew 95.8% to $2.24 million
- Plasma revenue increased 12.6% with 8 net new centers added
- Pharma patient affordability revenue surged 266.8% with 8 net new programs added
- Gross profit margin expanded by 207 basis points to 52.9%
- Raised full-year 2024 guidance for revenues and adjusted EBITDA
- Selling, general and administrative expenses increased by 13.5%
- Depreciation and amortization expense increased by 50.3%
Insights
Paysign's Q2 2024 results demonstrate robust growth and improved profitability, signaling positive momentum for the company. Total revenues increased by
The company's plasma business showed steady growth, with revenue up
Profitability metrics improved significantly:
- Net income turned positive at
$697,000 compared to a loss in Q2 2023 - Adjusted EBITDA nearly doubled to
$2.24 million - Gross margin expanded by 207 basis points to
52.9%
The company's balance sheet remains strong with
Management's raised guidance for 2024 indicates confidence in continued growth, with revenue now expected to reach
While the growth story is compelling, investors should monitor operating expenses, which are projected to increase to
Paysign's Q2 results reveal significant market traction in two key segments: plasma donor compensation and pharma patient affordability programs. The company's strategic focus on these areas is yielding impressive results.
In the plasma sector, Paysign has expanded its footprint to 477 centers, a net addition of eight in Q2 alone. This growth, coupled with increased donations and card loads, led to a
The pharma patient affordability segment is emerging as a major growth driver, with revenue skyrocketing
Market indicators are positive:
- Gross dollar load volume up
12.7% YoY - Gross spend volume increased
11.2% YoY - Patient affordability claim volume surged
365.5% YoY
These metrics suggest strong user engagement and growing demand for Paysign's services. The company's ability to capitalize on the expanding patient affordability market while maintaining growth in its core plasma business positions it well in the evolving healthcare payments landscape.
However, the rapid growth in the pharma segment may present challenges in maintaining the current trajectory. Investors should watch for signs of market saturation or increased competition in this high-growth area.
-
Second quarter 2024 total revenues of
, up$14.33 million 29.8% from second quarter 2023 -
Second quarter 2024 net income of
, or diluted earnings per share of$697 thousand , versus net loss of$0.01 , or diluted earnings per share of$104 thousand for second quarter 2023$(0.00) -
Second quarter 2024 Adjusted EBITDA of
, up$2.24 million 95.8% from for second quarter 2023, while diluted Adjusted EBITDA per share was$1.14 million versus$0.04 for second quarter 20231$0.02 -
Total plasma center count increased by eight net new centers during second quarter 2024, exiting the quarter with 477 centers, contributing to a
12.6% increase in plasma revenue versus the same period last year -
Added eight net new patient affordability programs during second quarter 2024, exiting the quarter with 61 active programs, leading to a
266.8% increase in pharma patient affordability revenue over the same period last year -
Exited the quarter with
of unrestricted cash and zero debt;$31.29 million related to payment timing on pass-through claim reimbursement receivables and related payables$22.71 million -
Second quarter 2024 gross dollar load volume was up
12.7% compared to second quarter 2023 -
Second quarter 2024 gross spend volume was up
11.2% compared to second quarter 2023 -
Second quarter 2024 average revenue per plasma center per month of
, up$7,916 4.4% , versus for second quarter 2023$7,581 -
Second quarter 2024 patient affordability claim volume increased
365.5% , versus second quarter 2023
1Adjusted EBITDA and Adjusted EBITDA per share are non-GAAP metrics used by management to gauge the operating performance of the business – see reconciliation of net income to Adjusted EBITDA at the end of the press release.
“We are extremely pleased with Paysign’s second-quarter financial results, as we continue to grow our business at a rapid pace,” stated Mark Newcomer, President & CEO of Paysign. “In the second quarter, revenues grew
Quarterly Results
The following additional details are provided to aid in understanding Paysign’s second quarter 2024 results versus the year-ago period:
-
Total revenues increased
29.8% , or . The increase was attributable to the following factors:$3.29 million -
Plasma revenue increased
, or$1.26 million 12.6% , primarily due to an increase in plasma locations, plasma donations and dollars loaded to cards with average monthly revenue per center up4.4% to versus$7,916 in the same period last year. Total plasma center count increased by eight net new centers, exiting the quarter with 477 centers.$7,581 -
Pharma patient affordability revenue increased
, or$1.95 million 266.8% , primarily due to the growth and launch of new pharma patient affordability programs. We added eight net new patient affordability programs throughout the second quarter, exiting with 61 active programs. -
Other revenue increased by
, or$86 thousand 28.9% , primarily due to the growth in our payroll business and the growth and launch of new prepaid disbursement programs.
-
Plasma revenue increased
-
Cost of revenues increased
24.3% , or . Cost of revenues is comprised of transaction processing fees, data connectivity fees, data center expenses, network fees, bank fees, card production costs, postage costs, customer service, program management, application integration setup, fraud charges and sales and commission expense. The quarter-over-quarter increase in cost of revenues was primarily due to an increase in cardholder usage activity and associated network expenses such as interchange and ATM costs, an increase in network expenses and sales commissions related to the growth in our pharma patient affordability business, an increase in fraud charges, an increase in customer service expenses associated with wage inflation pressures and the overall growth in our business.$1.32 million -
Gross profit increased by
, or$1.97 million 35.1% , primarily due to increased plasma and pharma patient affordability revenue. Our gross profit margin increased to52.9% versus50.9% in the prior year, an increase of 207 basis points, primarily due to a greater revenue contribution from our patient affordability business (18.7% versus6.6% ). -
Selling, general and administrative expenses (SG&A) increased by
, or$716 thousand 13.5% , and consisted primarily of an increase in (i) compensation and benefits of approximately due to continued hiring to support the company’s growth, a tight labor market and increased benefit costs; (ii) technologies and telecom of approximately$1.30 million primarily related to ongoing platform security investments; and (iii) all other operating expenses of approximately$372 thousand . This increase was offset by a decrease in stock compensation of approximately$12 thousand , a decrease in non-IT professional services of approximately$160 thousand and a$162 thousand increase in the amount of capitalized platform development costs. We exited the quarter with 149 employees versus 108 employees at the end of the same period last year.$647 thousand -
Depreciation and amortization expense increased by
, or$482 thousand 50.3% , due mainly to the continued capitalization of new software development costs and equipment purchases related to the enhancement to our processing platform and ongoing hiring to support our growth. -
Other income increased by
primarily related to an increase in interest income resulting from higher average cash balances and higher interest rates.$212 thousand -
Income tax provision increased as a result of tax benefits related to our stock-based compensation, changes to the company’s valuation allowance recorded on its net deferred tax assets and a pretax loss in the prior period. The effective tax rate was
25.8% versus (126.3% ) compared to the same period last year. -
Net income of
, or$697 thousand per diluted share, improved by$0.01 compared to net loss of$801 thousand , or$104 thousand per diluted share, during the same period in the prior year. The overall change in net income relates to the factors mentioned above.$(0.00) -
“EBITDA,” defined as earnings before interest, taxes, depreciation and amortization expense, which is a non-GAAP metric, increased by
, or$1.25 million 403.1% , to due to the factors mentioned above.$1.57 million -
“Adjusted EBITDA,” which excludes stock-based compensation from EBITDA, and which is a non-GAAP metric used by management to gauge the operating performance of the business, increased by
, or$1.09 million 95.8% , to , or$2.24 million per diluted share, due to the factors mentioned above.$0.04
Second Quarter 2024 Milestones
- Exited the quarter with approximately 6.8 million cardholders and approximately 610 card programs.
-
Quarter-over-quarter revenue increased
29.8% . -
Plasma revenue increased
12.6% . -
Pharma patient affordability revenue increased
266.8% . - Added eight net new plasma donation centers, ending the quarter with 477 centers.
- Added eight net new pharma patient affordability programs, ending the quarter with 61 active programs.
-
Restricted cash balances increased
10.7% from December 31, 2023, to , primarily due to increased funds on cards and growth in customer programs.$102.24 million
Balance Sheet at June 30, 2024
The company’s cashflows increased
Unrestricted cash increased
Restricted cash increased
2024 Outlook
“We delivered another solid quarter with year-over-year quarterly revenues increasing
“Due to the outperformance of our business during the first two quarters of the year relative to our initial expectations, we are raising our full year guidance as follows: total revenues are estimated to be in the range of
Second Quarter 2024 Financial Results Conference Call Details
The company will hold a conference call at 5:00 p.m. Eastern time on Wednesday, July 31, 2024, to discuss its second quarter 2024 financial results. The conference call may include forward-looking statements. The dial-in information for this call is 877.407.2988 (within the
Forward-Looking Statements
Certain statements in this press release may be considered forward-looking under federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. All statements, besides statements of fact included in this release are forward-looking. Such forward-looking statements include, among others, our optimism that our business will continue to grow at a rapid pace; our expectation that we will see continued margin expansion as patient affordability remains a dominant growth driver for the company; our anticipation of maintaining our current trajectory across our two major businesses of plasma donor compensation and pharma patient affordability while seeking additional high growth opportunities with the payments space; our belief that our commitment remains firm on delivering sustainable growth and maximizing shareholder value; our expectations for total revenue, plasma revenue as a percentage of total revenue, pharma revenue as a percentage of total revenue, full-year gross profit margins, operating expenses, depreciation and amortization, stock-based compensation, interest income, tax rate, fully diluted share count, net income, and adjusted EBITDA for the full-year 2024. We caution that these statements are qualified by important risks, uncertainties and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include, among others, the inability to continue our current growth rate in future periods; that a downturn in the economy, including as a result of COVID-19 and variants, as well as further government stimulus measures, could reduce our customer base and demand for our products and services, which could have an adverse effect on our business, financial condition, profitability and cash flows; operating in a highly regulated environment; failure by us or business partners to comply with applicable laws and regulations; changes in the laws, regulations, credit card association rules or other industry standards affecting our business; that a data security breach could expose us to liability and protracted and costly litigation; and other risk factors set forth in our Form 10-K for the year ended December 31, 2023. Except to the extent required by federal securities laws, the company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
About Paysign, Inc.
Paysign, Inc. (NASDAQ: PAYS) is a leading financial services provider uniquely positioned to provide technology solutions tailored to the healthcare industry. As an early innovator in prepaid card programs, patient affordability, digital banking services and integrated payment processing, Paysign enables countless exchanges of value for businesses, consumers and government agencies across all industry types.
Incorporated in southern
Through Paysign’s direct connections for processing and program management, the company navigates all aspects of the prepaid card lifecycle completely in house – from concept and card design to inventory, fulfillment and launch. The company’s 24/7/365 in-house, bilingual customer service is facilitated through live agents, interactive voice response (IVR) and two-way SMS alerts, reflecting the company’s commitment to world-class consumer support.
For more than two decades, Paysign has been a trusted partner for major pharmaceutical and healthcare companies, as well as multinational corporations, delivering fully managed programs built to meet their individual business goals. The company’s suite of offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable (GPR) debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and copay assistance. For more information, visit paysign.com.
Paysign, Inc. |
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Condensed Consolidated Statements of Operation (Unaudited) |
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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Revenues |
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Plasma industry |
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$ |
11,273,262 |
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$ |
10,014,461 |
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$ |
21,641,296 |
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$ |
19,374,528 |
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Pharma industry |
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2,674,901 |
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|
729,236 |
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5,063,545 |
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1,318,798 |
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Other |
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383,436 |
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297,354 |
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|
|
816,832 |
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|
|
491,015 |
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Total revenues |
|
|
14,331,599 |
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|
|
11,041,051 |
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|
|
27,521,673 |
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21,184,341 |
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Cost of revenues |
|
|
6,745,836 |
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|
5,425,311 |
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|
12,996,659 |
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|
10,520,932 |
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Gross profit |
|
|
7,585,763 |
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|
|
5,615,740 |
|
|
|
14,525,014 |
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|
|
10,663,409 |
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Operating expenses |
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Selling, general and administrative |
|
|
6,020,464 |
|
|
|
5,304,625 |
|
|
|
11,931,662 |
|
|
|
10,250,075 |
|
Depreciation and amortization |
|
|
1,439,622 |
|
|
|
958,001 |
|
|
|
2,726,027 |
|
|
|
1,803,017 |
|
Total operating expenses |
|
|
7,460,086 |
|
|
|
6,262,626 |
|
|
|
14,657,689 |
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|
|
12,053,092 |
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Income (loss) from operations |
|
|
125,677 |
|
|
|
(646,886 |
) |
|
|
(132,675 |
) |
|
|
(1,389,683 |
) |
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Other income |
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Interest income, net |
|
|
813,357 |
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|
|
600,867 |
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|
|
1,544,701 |
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|
|
1,185,064 |
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Income (loss) before income tax provision |
|
|
939,034 |
|
|
|
(46,019 |
) |
|
|
1,412,026 |
|
|
|
(204,619 |
) |
Income tax provision |
|
|
241,932 |
|
|
|
58,137 |
|
|
|
405,828 |
|
|
|
59,667 |
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Net income (loss) |
|
$ |
697,102 |
|
|
$ |
(104,156 |
) |
|
$ |
1,006,198 |
|
|
$ |
(264,286 |
) |
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Net income (loss) per share |
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Basic |
|
$ |
0.01 |
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|
$ |
(0.00 |
) |
|
$ |
0.02 |
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|
$ |
(0.01 |
) |
Diluted |
|
$ |
0.01 |
|
|
$ |
(0.00 |
) |
|
$ |
0.02 |
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|
$ |
(0.01 |
) |
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Weighted average common shares |
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|
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Basic |
|
|
53,008,286 |
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|
52,259,002 |
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|
|
52,926,462 |
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|
|
52,330,829 |
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Diluted |
|
|
55,861,786 |
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|
|
52,259,002 |
|
|
|
55,374,336 |
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|
52,330,829 |
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Paysign, Inc. |
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Condensed Consolidated Balance Sheets |
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June 30,
(Unaudited) |
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December 31,
(Audited) |
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ASSETS |
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Current assets |
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Cash |
|
$ |
31,290,865 |
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|
$ |
16,994,705 |
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Restricted cash |
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|
102,240,796 |
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|
|
92,356,308 |
|
Accounts receivable, net |
|
|
25,750,319 |
|
|
|
16,222,341 |
|
Other receivables |
|
|
1,650,201 |
|
|
|
1,585,983 |
|
Prepaid expenses and other current assets |
|
|
2,474,716 |
|
|
|
2,020,781 |
|
Total current assets |
|
|
163,406,897 |
|
|
|
129,180,118 |
|
|
|
|
|
|
|
|
|
|
Fixed assets, net |
|
|
1,107,852 |
|
|
|
1,089,649 |
|
Intangible assets, net |
|
|
10,710,142 |
|
|
|
8,814,327 |
|
Operating lease right-of-use asset |
|
|
3,006,844 |
|
|
|
3,215,025 |
|
Deferred tax asset, net |
|
|
4,077,175 |
|
|
|
4,299,730 |
|
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
182,308,910 |
|
|
$ |
146,598,849 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
|
$ |
50,254,617 |
|
|
$ |
26,517,567 |
|
Operating lease liability, current portion |
|
|
401,075 |
|
|
|
383,699 |
|
Customer card funding |
|
|
102,079,826 |
|
|
|
92,282,124 |
|
Total current liabilities |
|
|
152,735,518 |
|
|
|
119,183,390 |
|
|
|
|
|
|
|
|
|
|
Operating lease liability, long-term portion |
|
|
2,721,724 |
|
|
|
2,928,078 |
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
155,457,242 |
|
|
|
122,111,468 |
|
|
|
|
|
|
|
|
|
|
Stockholders’ equity |
|
|
|
|
|
|
|
|
Common stock; |
|
|
53,782 |
|
|
|
53,452 |
|
Additional paid-in capital |
|
|
23,357,481 |
|
|
|
21,999,722 |
|
Treasury stock at cost, 698,008 shares |
|
|
(1,277,884 |
) |
|
|
(1,277,884 |
) |
Retained earnings |
|
|
4,718,289 |
|
|
|
3,712,091 |
|
Total stockholders’ equity |
|
|
26,851,668 |
|
|
|
24,487,381 |
|
|
|
|
|
|
|
|
|
|
Total liabilities and stockholders’ equity |
|
$ |
182,308,910 |
|
|
$ |
146,598,849 |
|
Paysign, Inc. Non-GAAP Measures
To supplement Paysign’s financial results presented on a GAAP basis, we use non-GAAP measures that exclude from net income the following cash and non-cash items: interest, taxes, depreciation and amortization and stock-based compensation. We believe these non-GAAP measures used by management to gauge the operating performance of the business help investors better evaluate our past financial performance and potential future results. Non-GAAP measures should not be considered in isolation or as a substitute for comparable GAAP accounting, and investors should read them in conjunction with the company’s financial statements prepared in accordance with GAAP. The non-GAAP measures we use may be different from, and not directly comparable to, similarly titled measures used by other companies.
“EBITDA” is defined as earnings before interest, taxes, depreciation and amortization expense. “Adjusted EBITDA” reflects the adjustment to EBITDA to exclude stock-based compensation charges.
EBITDA and Adjusted EBITDA are not intended to represent cash flows from operations, operating income (loss) or net income (loss) as defined by
Paysign, Inc. |
||||||||||||||||
Adjusted EBITDA (Unaudited) |
||||||||||||||||
|
|
Three Months Ended |
|
|
Six Months Ended |
|
||||||||||
|
|
June 30, |
|
|
June 30, |
|
||||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Reconciliation of EBITDA and Adjusted EBITDA to net income (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income (loss) |
|
$ |
697,102 |
|
|
$ |
(104,156 |
) |
|
$ |
1,006,198 |
|
|
$ |
(264,286 |
) |
Income tax provision |
|
|
241,932 |
|
|
|
58,137 |
|
|
|
405,828 |
|
|
|
59,667 |
|
Interest income, net |
|
|
(813,357 |
) |
|
|
(600,867 |
) |
|
|
(1,544,701 |
) |
|
|
(1,185,064 |
) |
Depreciation and amortization |
|
|
1,439,622 |
|
|
|
958,001 |
|
|
|
2,726,027 |
|
|
|
1,803,017 |
|
EBITDA |
|
|
1,565,299 |
|
|
|
311,115 |
|
|
|
2,593,352 |
|
|
|
413,334 |
|
Stock-based compensation |
|
|
670,138 |
|
|
|
830,426 |
|
|
|
1,334,089 |
|
|
|
1,448,670 |
|
Adjusted EBITDA |
|
$ |
2,235,437 |
|
|
$ |
1,141,541 |
|
|
$ |
3,927,441 |
|
|
$ |
1,862,004 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.04 |
|
|
$ |
0.02 |
|
|
$ |
0.07 |
|
|
$ |
0.04 |
|
Diluted |
|
$ |
0.04 |
|
|
$ |
0.02 |
|
|
$ |
0.07 |
|
|
$ |
0.03 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
53,008,286 |
|
|
|
52,259,002 |
|
|
|
52,926,462 |
|
|
|
52,330,829 |
|
Diluted |
|
|
55,861,786 |
|
|
|
54,475,747 |
|
|
|
55,374,336 |
|
|
|
54,630,341 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20240731077597/en/
Paysign Investor Relations:
888.522.4810
ir@paysign.com
paysign.com/investors
Paysign Media Relations:
Alicia Ches
888.522.4850
pr@paysign.com
Source: Paysign, Inc.
FAQ
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