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Mar 31, 2022
Paysign Q1 2022 Earnings Report
Reported revenue growth as key performance indicators returned to pre-pandemic normalcy.
Key Takeaways
Paysign reported positive Q1 2022 results with good revenue growth driven by the rebound of the plasma business and winning new deals and onboarding new plasma centers and pharma clients.
Unrestricted cash increased by $1.1 million to $8.5 million due to the improvement of the plasma business.
Operating results continued to improve, generating positive cash flow from operations.
The company expects total revenue for 2022 to be in the range of $35.25 million to $38.35 million, reflecting growth of 20% to 30%.
Adjusted EBITDA is expected to at least double to $4.0 million over 2021.
Forward Guidance
Paysign expects total revenue to be in the range of $35.25 million to $38.35 million, reflecting growth of 20% to 30%. Adjusted EBITDA is expected to at least double to $4.0 million. Full year gross profit margins are expected to be approximately 50.0% to 52.5%. Operating expenses are expected to increase to approximately $20.0 million.
Positive Outlook
- Total revenue to be in the range of $35.25 million to $38.35 million, reflecting growth of 20% to 30%.
- Plasma making up approximately 90% of total revenue.
- Adjusted EBITDA is expected to at least double to $4.0 million over 2021’s adjusted EBITDA of $2.0 million.
- Full year gross profit margins are expected to be approximately 50.0% to 52.5%.
- Balance sheet remains strong and expects it to continue to expand as an outcome of the operating result improvements
Challenges Ahead
- Pharma revenue is expected to be relatively flat year over year as the loss of programs and settlement income in 2021 are offset with new pharma copay programs.
- Operating expenses are expected to increase to approximately $20.0 million as we continue to make investments in people and technology, and experience higher costs in insurance, travel and entertainment and other inflationary pressures.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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