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Dec 31, 2023
Paysign Q4 2023 Earnings Report
Reported solid fourth quarter and full-year 2023 financial results, meeting or exceeding revenue and adjusted EBITDA guidance.
Key Takeaways
Paysign reported a strong year with a 24% increase in revenue and a 21% increase in adjusted EBITDA. The patient affordability business experienced significant growth, and the company anticipates continued upward trajectory across all business units in the coming year.
Revenue increased by 24% year-over-year.
Adjusted EBITDA increased by 21% year-over-year.
Plasma revenue grew by 21%.
Patient affordability business experienced 172% revenue growth.
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 growth in 2024, with revenue projected to be between $54.5 million and $56.7 million. Pharma revenue is expected to grow significantly, and the company anticipates continued investments in people and technology.
Positive Outlook
- Total revenues are expected to be in the range of $54.5 million to $56.7 million, reflecting year-over-year growth of 15% to 20%.
- Pharma revenue is expected to grow at least 100% year-over-year.
- Gross profit margins are expected to be between 52.0% to 54.0%.
- The company expects to generate interest income of $2.6 million to $2.9 million.
- Net income is expected to be in the range of $2.0 million to $3.0 million, or $0.04 to $0.06 per diluted share, and adjusted EBITDA to be in the range of $8.0 million to $9.0 million, or $0.15 to $0.17 per diluted share.
Challenges Ahead
- Revenue for the first quarter of 2024 is expected to reflect the seasonal impact of tax refunds on the plasma business.
- Operating expenses are expected to be between $29.0 and $31.0 million as we continue to make investments in people and technology.
- Operating expenses for Q1 2024 are expected to be between $7.0 million to $7.5 million.
- Depreciation and amortization are expected to be between $6.0 million and $6.5 million.
- Stock-based compensation is expected to be between $2.7 million and $3.0 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income