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PAYS

PaySign, Inc.

PAYS

PaySign, Inc. • NASDAQ
$5.21 ▼ -0.38% (-0.02)
Market Cap $281.47 M
52w High $8.88
52w Low $1.80
Dividend Yield 0%
P/E 40.08
Volume 192.97K
Outstanding Shares 54.03M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $21.596M ▲ $10.568M ▲ $2.215M ▲ 10.257% ▲ $0.04 ▲ $4.366M ▲
Q2-2025 $19.078M ▲ $10.318M ▲ $1.388M ▼ 7.274% ▼ $0.026 ▼ $3.558M ▼
Q1-2025 $18.598M ▲ $9.202M ▲ $2.586M ▲ 13.905% ▲ $0.05 ▲ $4.29M ▲
Q4-2024 $15.606M ▲ $8.735M ▲ $1.373M ▼ 8.797% ▼ $0.026 ▼ $2.168M ▼
Q3-2024 $15.256M $7.783M $1.437M 9.418% $0.027 $2.255M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.529M ▼ $209.509M ▲ $163.751M ▲ $45.758M ▲
Q2-2025 $11.753M ▲ $193.896M ▼ $151.688M ▼ $42.208M ▲
Q1-2025 $6.847M ▼ $205.118M ▲ $165.844M ▲ $39.274M ▲
Q4-2024 $10.767M ▲ $179.028M ▲ $148.587M ▲ $30.442M ▲
Q3-2024 $10.293M $166.974M $138.468M $28.506M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.215M ▲ $6.752M ▲ $-2.183M ▼ $69.12K ▼ $4.639M ▲ $4.57M ▲
Q2-2025 $1.388M ▼ $3.641M ▲ $-1.81M ▲ $591.534K ▲ $2.423M ▲ $1.831M ▲
Q1-2025 $2.586M ▲ $-6.033M ▼ $-4.444M ▼ $-375.786K ▼ $-10.853M ▼ $-8.477M ▼
Q4-2024 $1.373M ▼ $14.313M ▲ $-2.401M ▲ $-134.55K ▲ $11.778M ▲ $11.912M ▲
Q3-2024 $1.437M $-20.163M $-2.448M $-355.695K $-22.966M $-22.611M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Other Revenue
Other Revenue
 $0 ▲$0 ▲$0 ▲$0 ▲
Pharma Industry
Pharma Industry
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Plasma Industry
Plasma Industry
 $20.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past several years, moving from a small base to a more meaningful level today. Gross profitability has improved as the business has scaled, and the company has transitioned from losses to roughly break-even or modest profits. That said, operating and net income remain thin, and earnings per share have been a bit choppy from year to year. Overall, the income statement shows a business that has largely completed its turnaround from loss-making to marginally profitable, but with earnings still sensitive to any slowdown or increase in costs.

Balance Sheet

Balance Sheet The balance sheet looks conservative and relatively clean. Assets have been building over time, and shareholder equity has been growing, which points to cumulative value creation rather than ongoing dilution or heavy losses. The company carries essentially no debt, which lowers financial risk and interest burden. Cash levels are reasonable but not excessive, so the business likely depends on continuing positive cash generation rather than a large cash reserve. In short, it’s a lean, lightly leveraged balance sheet that offers some resilience but not a huge safety cushion.

Cash Flow

Cash Flow Cash generation is a relative strength. Operating cash flow has been consistently positive and has generally risen over the last several years, indicating that the underlying business converts its activity into real cash, not just accounting earnings. After modest investment needs, free cash flow has stayed positive, helped by an asset-light model and limited capital spending. Even though the absolute cash flow is not large, the pattern is healthy: the company is funding itself from operations rather than heavy borrowing or repeated capital raises.

Competitive Edge

Competitive Edge PaySign operates in very specific niches—plasma donation payments and pharmaceutical patient affordability programs—rather than trying to compete head-on with large, general-purpose payment processors. In these areas it appears to hold a strong position, especially in U.S. plasma centers, where it reportedly serves a large share of the market. The solutions are tightly integrated into customer workflows and regulatory processes, which makes switching providers disruptive and costly. Longstanding relationships, domain expertise, and customization all reinforce customer stickiness. The flip side is concentration risk: success is tied to a relatively narrow set of industries and clients, and regulatory or competitive shifts in those niches could have an outsized impact.

Innovation and R&D

Innovation and R&D Innovation is clearly a core part of the strategy. The company has built a proprietary, end-to-end payment platform tailored to complex use cases, and it is using data and AI to solve specific pain points—such as detecting copay maximizer schemes in pharma support programs. The acquisition of Gamma Innovation adds a SaaS donor engagement platform, deepening the offering to plasma centers and moving further into software and analytics, not just payment cards. The Paysign Premier digital banking solution extends the product set into broader payout and banking use cases. The main execution risks here are continued investment to keep the technology ahead of competitors and successfully integrating new capabilities without overcomplicating the product suite.

Summary

Overall, PaySign looks like a niche fintech platform that has moved from a turnaround phase into early, fragile profitability. Financially, it combines steady revenue growth, improving margins, positive free cash flow, and a debt-free balance sheet, but on a relatively small scale and with thin earnings. Strategically, its strength lies in deep specialization, sticky customer relationships, and differentiated technology in plasma donation and pharma affordability programs. The main opportunities are to grow within these niches, expand higher-margin software and analytics offerings, and broaden use cases for its digital banking platform. Key risks include its small size, dependence on a narrow set of end-markets, regulatory exposure in healthcare and payments, and the need to keep innovating faster than much larger potential competitors.

NEWS

November 13, 2025 · 4:30 PM UTC

Paysign, Inc. to Present at the 17th Annual Southwest IDEAS Investor Conference

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November 12, 2025 · 4:05 PM UTC

Paysign, Inc. Reports Third Quarter 2025 Financial Results

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October 14, 2025 · 4:15 PM UTC

Paysign to Host Third Quarter 2025 Earnings Call

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September 22, 2025 · 8:05 AM UTC

Paysign, Inc. Appoints Jose Garcia as Executive Vice President, Life Science Solutions

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September 15, 2025 · 7:20 PM UTC

Paysign, Inc. Announces Summary Notice of Pendency and Proposed Settlement of Stockholder Derivative Actions

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