| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 28.04 | 50.8% |
| Total Income | 28.04 | 50.8% |
| Expenditure | 21.37 | 32.6% |
| PBT | 7.47 | 129.8% |
| Net Profit | 5.44 | 110.0% |
| OPM | 23.78% | 10.40pp |
| NPM | 19.40% | 5.49pp |
| EPS | 0.10 | 100.0% |
Paysign: Q1 2026 Revenue Up 51% Driven by Patient Affordability
13 May 2026 · 13 May, 1:42 am
Summary
Paysign, Inc. reported a strong start to 2026 with first quarter revenue of $28.04 million, a 50.8% increase year-over-year. Pharma revenue increased by 81.9% to $15.68 million, while plasma revenue grew by 24.9% to $11.75 million. The company's operating margin improved significantly to 23.8% from 13.4% in the prior year. Paysign is reiterating its full-year 2026 ranges, with confidence in achieving the upper half of its guidance ranges.
Key Highlights
- 1
Paysign's first quarter 2026 revenues reached $28.04 million, reflecting a 50.8% increase compared to the first quarter of 2025.
- 2
Pharma revenue for the first quarter of 2026 increased significantly to $15.68 million, marking an 81.9% rise compared to the first quarter of 2025.
- 3
Plasma revenue for the first quarter of 2026 grew to $11.75 million, a 24.9% increase compared to the first quarter of 2025.
- 4
The company's operating margin for the first quarter of 2026 was 23.8%, a substantial improvement from the 13.4% reported in the first quarter of 2025.
- 5
Net income for the first quarter of 2026 was $5.44 million, or $0.09 per diluted share, compared to $2.59 million, or $0.05 per diluted share, in the first quarter of 2025.
- 6
Adjusted EBITDA for the first quarter of 2026 increased by 113.4% to $10.59 million from $4.96 million in the first quarter of 2025.
- 7
The company exited the quarter with $20.55 million of unrestricted cash and zero bank debt.
Management Comments
Mark Newcomer
Paysign delivered a strong start to 2026, with exceptional top- and bottom-line results that are consistent with our strategic direction and the scalability of the platform we’ve built. Our plasma donor compensation business continues to perform exceptionally well, and the reception to our SaaS solutions from collectors and plasmapheresis manufacturers across the U.S., Europe and Asia reinforces our conviction that purpose-built technology, backed by deep industry expertise, creates a competitive advantage. Patient affordability emerged as our largest revenue contributor in the quarter, with 135 active programs and a strong pipeline that reflects the trust pharmaceutical manufacturers place in Paysign to help patients access and afford the therapies they need. As this business grows, we are positioned to deliver long-term value for our shareholders, our customers and the patients we serve.
Jeff Baker
Our first quarter results exceeded guidance across every line of the income statement. Revenue, operating margin and net income all finished above the high end of our prior ranges, driven by fixed cost leverage and a continued mix shift toward patient affordability. We are reiterating our full-year 2026 ranges, and the momentum from the first quarter supports our confidence in achieving the upper half of our guidance ranges. The table below details our second quarter and full-year 2026 outlook. The second quarter reflects the seasonal pattern we have laid out previously: pharma revenue is highest in the first quarter as patient affordability claims peak, and plasma builds through the balance of the year. For the full year, we continue to expect plasma and pharma to contribute roughly equally to revenue, with margins expanding across the income statement and net income nearly doubling over 2025 as patient affordability scales. With a strong unrestricted cash position, no bank debt and a growing cash flow profile, we are well positioned to fund our 2026 investment plans and execute against the financial framework we have communicated.
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