| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 28.25 | 0.8% | 48.1% |
| Total Income | 28.25 | 0.8% | 48.1% |
| Expenditure | 21.24 | 0.6% | 20.4% |
| PBT | 7.91 | 5.9% | 287.8% |
| Net Profit | 6.76 | 24.3% | 386.3% |
| OPM | 24.82% | 1.03pp | 17.28pp |
| NPM | 23.91% | 4.52pp | 16.64pp |
| EPS | 0.12 | 20.0% | 300.0% |
Paysign Reports Record Q2 2026 Revenue of $28.3 Million, Up 48%; Raises Full-Year Outlook
06 Aug 2026 · 6 Aug, 1:43 am
Summary
Paysign announced record-breaking results for the second quarter of 2026, with revenue climbing 48.1% year-over-year to $28.3 million, fueled by strong performance in both its patient affordability and plasma businesses. The company saw significant margin expansion, with gross profit margin reaching 63.3% and operating margin increasing to 24.8%. GAAP net income rose to $6.76 million, or $0.11 per share, while Adjusted EBITDA more than doubled to $9.61 million. Based on this strong performance and positive momentum, Paysign has raised its full-year 2026 revenue and Adjusted EBITDA outlook.
Key Highlights
- 1
Paysign reported record second quarter 2026 revenue of $28.3 million, an increase of 48.1% compared to the second quarter of 2025.
- 2
Pharma industry revenue surged by 88.9% year-over-year to $14.65 million in Q2 2026, driven by the addition of 51 net patient affordability programs.
- 3
Plasma revenue increased by 21.4% year-over-year to $13.04 million in Q2 2026, with average monthly revenue per center showing improvement.
- 4
Gross profit margin improved to 63.3% in Q2 2026 from 61.6% in Q2 2025, benefiting from a higher mix of pharma revenue.
- 5
Operating margin expanded significantly to 24.8% in Q2 2026, up from 7.5% in the prior year period.
- 6
GAAP net income for Q2 2026 was $6.76 million, or $0.11 per fully diluted share, a substantial increase from $1.39 million, or $0.02 per share, in Q2 2025.
- 7
Adjusted EBITDA grew by 113.0% to $9.61 million in Q2 2026, compared to $4.51 million in Q2 2025, with diluted Adjusted EBITDA per share at $0.16.
- 8
The company raised its full-year 2026 outlook, projecting revenues between $114.0 million and $117.0 million, and Adjusted EBITDA between $35.0 million and $38.0 million.
Management Comments
Mark Newcomer
Paysign delivered a strong second quarter, achieving record revenue, net income, and adjusted EBITDA while continuing to expand margins. Strong growth in our patient affordability business, steady performance in plasma donor compensation, and disciplined execution across the company drove meaningful operating leverage and profitability, reinforcing the multiyear strategy we have been building. With momentum across the business and a robust pipeline of opportunities, we intend to remain focused on sustainable growth, continued margin expansion, and creating long-term value for shareholders.
Jeff Baker
We delivered another strong quarter, with results in both plasma and patient affordability reflecting the momentum we have been building. Our first two quarters of 2026 make two things clear: our patient affordability solutions continue to resonate with pharmaceutical companies, and recent trends in our plasma business indicate improvement from the high inventory levels that weighed on results throughout 2025. We also drove year-over-year improvement across our core margin metrics, even excluding a one-time, non-cash benefit of $990,000 related to the fair value of the Gamma acquisition earn-out liability. Revenue, operating margin and net income all finished above the high end of our guidance, and the strength we’ve seen through the first half of the year, combined with the visibility into additional program launches and seasonal trends, supports our increased full-year outlook.
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