PaySign Inc Class B ( (PAYS) ) has released its Q4 earnings. Here is a breakdown of the information PaySign Inc Class B presented to its investors.
Paysign, Inc. is a financial services provider specializing in prepaid card programs, patient affordability solutions, digital banking, and integrated payment processing, primarily serving the healthcare industry.
Paysign, Inc. reported a strong financial performance for the full-year 2024, with total revenues reaching $58.38 million, marking a 23.5% increase from the previous year. The company also highlighted significant growth in its pharma patient affordability programs, which contributed to a 214.5% increase in pharma revenue.
Key financial metrics for 2024 included a net income of $3.82 million, a decrease from the previous year, and an Adjusted EBITDA of $9.62 million, up 43.3% from 2023. The company expanded its plasma center count by 16, ending the year with 480 centers, and added 33 net patient affordability programs, boosting its active programs to 76. Despite a decline in plasma revenue in the fourth quarter, the patient affordability segment showed robust growth.
Looking ahead, Paysign’s management remains optimistic about the future, expecting the patient affordability business to grow significantly and contribute to over 37% of total revenue in 2025. The recent acquisition of Gamma Innovation, LLC is expected to enhance Paysign’s capabilities and expand its presence in the life sciences market, positioning the company for continued growth and value creation for shareholders.