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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.
Revenue by Segment
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.
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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