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Jun 30, 2024
Paysign Q2 2024 Earnings Report
Paysign's second-quarter financial results reflected substantial revenue growth and increased profitability.
Key Takeaways
Paysign reported a strong second quarter with a 29.8% increase in revenue and a 95.8% increase in adjusted EBITDA. Growth was driven by the plasma donor compensation business and the patient affordability business. The company is raising its full-year guidance due to this outperformance.
Revenues grew by 29.8% year-over-year.
Adjusted EBITDA increased by 95.8% year-over-year.
Gross margin percentage increased by 207 basis points.
Full-year revenue guidance was raised.
Paysign
Paysign
Paysign Revenue by Segment
Revenue by Segment
Pharma Patient Affordability Revenue
CapyFin.com Forward Guidance
Paysign raised its full year 2024 guidance, expecting total revenues between $56.5 million and $58.5 million, gross profit margins between 54.0% and 55.0%, operating expenses between $30.0 million and $32.0 million, interest income between $3.0 million and $3.2 million, a tax rate between 28.0% and 29.0%, and net income between $2.0 million and $3.0 million.
Positive Outlook
- Total revenues are estimated to be in the range of $56.5 million to $58.5 million.
- Plasma revenues are estimated to account for approximately 78% of total revenue.
- Pharma revenue is estimated to account for approximately 20% of total revenue.
- Full-year gross profit margins are expected to be between 54.0% and 55.0%.
- Interest income of $3.0 million to $3.2 million expected.
Challenges Ahead
- Operating expenses are expected to be between $30.0 million and $32.0 million.
- Tax rate to be between 28.0% and 29.0%.
- Fully diluted share count outstanding to be 55.8 million to 56.0 million.
- Net income to be in the range of $2.0 million to $3.0 million, or $0.04 to $0.06 per diluted share.
- Adjusted EBITDA to be in the range of $9.0 million to $10.0 million (15.0% to 17.0% of total revenues), or $0.16 to $0.18 per diluted share