Paysign Q1 2023 Earnings Report
Key Takeaways
Paysign reported a 23% increase in revenue compared to the previous year, driven by expansion in the plasma and patient affordability verticals. The company's investments in the patient affordability business are expected to yield positive returns. The first quarter has historically been the weakest due to slower plasma donations during tax season.
Revenue increased by 23% compared to the last year.
Gross spend volume was up 31.2% versus the year-ago period
Unrestricted cash decreased $3.3 million to $6.4 million from December 31, 2022
Company repurchased 200,000 shares of its common stock for $0.7 million.
Paysign
Paysign
Forward Guidance
For the second quarter of 2023, Paysign expects total revenue to increase 15% to 20% and Adjusted EBITDA to increase 5% to 10% from the second quarter of 2022.