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Mar 31, 2024
Paysign Q1 2024 Earnings Report
Paysign's financial performance saw revenue increase and adjusted EBITDA growth, driven by the patient affordability business.
Key Takeaways
Paysign reported a 30% increase in revenue and a 135% increase in adjusted EBITDA compared to the first quarter of the previous year. The patient affordability business grew significantly, with a 305% rise in revenue, becoming a major growth driver for the company. The company confirmed its full-year revenue guidance to be in the range of $54.5 million to $56.7 million and adjusted EBITDA to be in the range of $8.0 million to $9.0 million.
Revenue increased by 30% compared to Q1 2023.
Adjusted EBITDA grew by 135% compared to Q1 2023.
Patient affordability business revenue increased by 305% compared to Q1 2023.
Gross profit margins improved due to the shift to a greater percentage of pharma revenue.
Paysign
Paysign
Paysign Revenue by Segment
Revenue by Segment
Plasma Industry Revenue
CapyFin.comPharma Patient Affordability Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
The company is confirming the guidance they gave in March, for total revenues to be in the range of $54.5 million to $56.7 million and adjusted EBITDA to be in the range of $8.0 million to $9.0 million.
Positive Outlook
- Total revenues to be in the range of $54.5 million to $56.7 million.
- Adjusted EBITDA to be in the range of $8.0 million to $9.0 million.
- Total revenue for Q2 2024 is expected to increase by approximately 27.5% over Q2 2023.
- Pharma revenue accounting for approximately 18.0% of the total revenue for Q2.
- Adjusted EBITDA for Q2 is expected to increase 65.0% to 70.0% from Q2 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income