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Jun 30, 2023
Paysign Q2 2023 Earnings Report
Paysign reported strong revenue growth driven by plasma, patient affordability, and other business areas.
Key Takeaways
Paysign reported a 28% year-over-year increase in revenue, driven by growth in its plasma and patient affordability businesses. The company is on track to meet its revenue and Adjusted EBITDA guidance for the year.
Delivered strong revenue growth with a 28% year-over-year increase.
Plasma business continues to provide a strong foundation of revenue stream.
Patient affordability business exhibited significant growth in pipeline and revenue.
Transitioned an additional 16 mature plasma centers in July, bringing the current number of plasma centers to over 460.
Paysign
Paysign
Forward Guidance
The company expects continued growth in its plasma and pharma patient affordability businesses and is on track to meet its revenue and Adjusted EBITDA guidance provided in March.
Positive Outlook
- Continued growth in plasma business.
- Continued growth in pharma patient affordability business.
- On track to meet revenue guidance of $44.0 million to $46.0 million.
- On track to meet Adjusted EBITDA guidance of $6.0 million to $7.5 million.
- Financial results and cash balances should continue to improve sequentially.
Challenges Ahead
- Impact of inflationary pressures.
- Potential effects of share repurchases.
- Downturn in the economy could reduce customer base.
- Data security breach could expose to liability.
- Operating in a highly regulated environment.