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Mar 31
Paysign Q1 2025 Earnings Report
Paysign, Inc. reported strong financial results for the first quarter of 2025, driven by significant growth in its patient affordability business, despite a decline in plasma revenue.
Key Takeaways
Paysign, Inc. announced a record-breaking first quarter in 2025, with total revenues increasing by 41.0% year-over-year to $18.60 million. Net income surged to $2.59 million, or $0.05 per diluted share, a substantial increase from $309 thousand in the prior year. Adjusted EBITDA also saw a remarkable rise of 193.3% to $4.96 million.
Total revenues for Q1 2025 reached $18.60 million, marking a 41.0% increase from Q1 2024.
Net income for Q1 2025 was $2.59 million, or $0.05 per diluted share, significantly up from $309 thousand, or $0.01 per diluted share, in Q1 2024.
Adjusted EBITDA grew by 193.3% to $4.96 million, with diluted Adjusted EBITDA per share at $0.09.
The patient affordability business experienced exceptional growth, with revenue increasing by 260.8% and 14 net new programs added, bringing the total to 90 active programs.
Paysign
Paysign
Paysign Revenue by Segment
Revenue by Segment
Plasma Industry Revenue
CapyFin.comPharma Patient Affordability Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Paysign expects continued strength in its patient affordability business for Q2 2025, with total revenues projected between $18.5 million and $19.0 million. For the full year 2025, total revenues are expected to be in the range of $72.0 million to $74.0 million, with Adjusted EBITDA between $16.0 million and $17.0 million.
Positive Outlook
- Total revenues for Q2 2025 are expected to be between $18.5 million and $19.0 million, reflecting continued strength in patient affordability.
- Full-year 2025 total revenues are projected to be in the range of $72.0 million to $74.0 million, representing 25.0% year-over-year growth at the midpoint.
- Patient affordability revenue is expected to make up approximately 43.0% of total revenue for the full year, representing over 135% year-over-year growth.
- Full-year gross profit margins are expected to be between 62.0% and 64.0%, reflecting stable margins in plasma and increased revenue from pharma patient affordability.
- Adjusted EBITDA for the full year 2025 is expected to be in the range of $16.0 million to $17.0 million, or $0.28 to $0.30 per diluted share.
Challenges Ahead
- Plasma business is expected to show weakness, making up approximately 54% to 55% of Q2 2025 revenue.
- Plasma revenue for the full year 2025 is estimated to decline by 8.0% to 10.0% year-over-year.
- Revenue is expected to be slightly higher in the first half of the year compared to the second half due to seasonality in patient affordability and plasma trends.
- Operating expenses for the full year are expected to be between $41.0 million and $43.0 million.
- Net income for the full year is expected to be between $6.0 million and $7.0 million, or $0.10 to $0.12 per diluted share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income