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Sep 30, 2024
Paysign Q3 2024 Earnings Report
Reported strong third-quarter results with revenue growth and increased adjusted EBITDA.
Key Takeaways
Paysign reported a strong third quarter with a 23.0% increase in revenue and a 20.6% increase in adjusted EBITDA. The growth was driven by a 219.1% year-over-year increase in revenue from patient affordability programs and an improvement in gross margins.
Revenue increased by 23.0% year-over-year.
Adjusted EBITDA increased by 20.6% year-over-year.
Revenue from patient affordability programs increased by 219.1% year-over-year.
Gross margins improved by 440 basis points to 55.5% compared to the third quarter of 2023.
Revenue by Segment
Forward Guidance
Paysign expects total revenues to be in the range of $56.5 million to $58.5 million, and 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 fully diluted share.
Positive Outlook
- Total revenues are expected to be in the range of $56.5 million to $58.5 million.
- Adjusted EBITDA is expected to be in the range of $9.0 million to $10.0 million.
- Adjusted EBITDA is expected to be 15.0% to 17.0% of total revenues.
- Adjusted EBITDA per fully diluted share is expected to be $0.16 to $0.18.
- Operating results are anticipated to be within the provided ranges despite a one-time expense related to legal fees.
Challenges Ahead
- Legal fees related to the settlement of class action and derivative lawsuits are expected to be expensed during the fourth quarter.
- The legal fees expense was not anticipated at the time financial guidance was provided.
- Headwinds in the plasma business related to difficult weather conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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