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Dec 31, 2019
Paysign Q4 2019 Earnings Report
Reported full year 2019 financial results, with revenue up by 48% to a record $34.7 million and record net income of $7.5 million, an increase of 188%.
Key Takeaways
Paysign reported full year 2019 financial results, with revenues reaching $34.7 million, a 48% increase compared to 2018. Net income saw a significant increase of 188%, reaching $7.5 million. However, the company's fourth quarter performance contributed to missing the full year revenue guidance.
Full year 2019 revenues increased by 48% compared to 2018, reaching $34.7 million.
Net income attributable to Paysign, Inc. increased by $4,866,265, or 188%, compared to 2018.
Cost of revenues was 44% of total revenues in 2019, an improvement compared to 51% in 2018.
The company is focused on maximizing shareholder value and expects continued growth in revenue and net income in 2020.
Paysign
Paysign
Forward Guidance
Paysign expects continued growth in both revenue and net income in 2020, with similar gross margins to 2019, driven by plasma and pharma strength, expansion into new industry verticals, and the launch of new products.
Positive Outlook
- Source plasma collection has been deemed critical infrastructure.
- No anticipated decline in the demand for pharmaceutical patient affordability products.
- Expansion into new industry verticals.
- Launch of new products.
- Company expects to see continued revenue and earnings growth in 2020.