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Paysign
(NASDAQ:PAYS)
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Rating:78Outperform
Price Target:
$11.00
▲(26.58% Upside)
Action:Reiterated
Date:08/06/26
Overall score is driven primarily by strong financial performance (profitability, expanding margins, and high free cash flow with low leverage) and supported by a positive earnings update with reiterated full-year targets and a Q1 beat. Technicals are supportive with a clear uptrend, though momentum looks somewhat stretched near term. The main offset is valuation: a high P/E (~46.98) leaves less room for execution misses, especially given discussed risks like plasma center count pressure and timing uncertainty for new SaaS/app revenue.
Positive Factors
Strong Cash Generation
Exceptionally high operating and free cash flow provide durable internal funding for program growth, technology investment, and potential M&A or shareholder returns. Over 2–6 months this cash cushion reduces refinancing risk and enhances the company’s ability to execute strategic initiatives without relying on external debt.
Negative Factors
Cooling Revenue Growth
A meaningful slowdown from prior hyper-growth means management must sustain client wins and program retention to meet expectations. Over the medium term, slower top-line momentum raises execution risk for maintaining margin leverage and FCF growth previously driven by rapid scale.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Cash Generation
Exceptionally high operating and free cash flow provide durable internal funding for program growth, technology investment, and potential M&A or shareholder returns. Over 2–6 months this cash cushion reduces refinancing risk and enhances the company’s ability to execute strategic initiatives without relying on external debt.
Read all positive factors
Paysign (PAYS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$500.92M
Dividend YieldN/A
Average Volume (3M)554.91K
Price to Earnings (P/E)47.0
Beta (1Y)1.68
Revenue Growth43.38%
EPS Growth66.05%
CountryUS
Employees226
SectorTechnology
Sector Strength88
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)0.29
Shares Outstanding55,905,773
10 Day Avg. Volume537,909
30 Day Avg. Volume554,912
Financial Highlights & Ratios
PEG Ratio0.39
Price to Book (P/B)5.78
Price to Sales (P/S)3.42
P/FCF Ratio5.47
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$11.88Price Target Upside36.65% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.24
Revenue Forecast (FY)$108.55M
Paysign Business Overview & Revenue Model
Company Description
PaySign, Inc. (PAYS) is a U.S.-based financial technology company in the payments and prepaid card sector. The company provides payment solutions centered on prepaid debit card programs, including card issuance and program management services, wit...
How the Company Makes Money
PaySign primarily makes money by operating and servicing prepaid debit card programs on behalf of program sponsors. Key revenue streams generally include: (1) program management and service fees tied to managing prepaid card programs (e.g., implem...
Paysign Earnings Call Summary
Earnings Call Date:May 12, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call highlighted a very strong quarter: substantial revenue and profit growth, wide margin expansion, a robust pharma pipeline, and continued plasma revenue expansion and cash generation. Management reiterated confident full-year guidance and plans to exceed prior program-addition performance. Key risks discussed include a lower-than-guided plasma center count (due to sales/closures), the SaaS/app not yet producing revenue (FDA engagement ongoing), a higher effective tax rate, and margin variability driven by seasonal mix. Overall the positives (large percentage growth across revenue, EBITDA, operating margin, patient assistance dollars, and pipeline strength) substantially outweigh the operational and timing-related lowlights.Positive Updates
Record Revenue Growth
Total revenue grew 50.8% year-over-year to $28.0 million, above the high end of guidance ($27.0 - $27.5M). Full-year revenue guidance is $106.5M-$110.5M (30%-35% YoY growth).
Negative Updates
Active Plasma Center Count Below Guidance
Exited the quarter with 573 centers versus guidance of 589. Management expects ending Q2 at 555-560 centers due to one customer closing 19 underperforming centers and one customer selling centers to a competing provider.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Revenue Growth
Total revenue grew 50.8% year-over-year to $28.0 million, above the high end of guidance ($27.0 - $27.5M). Full-year revenue guidance is $106.5M-$110.5M (30%-35% YoY growth).
Read all positive updates
Company Guidance
Paysign reiterated full‑year 2026 targets of $106.5M–$110.5M in revenue (≈30%–35% YoY growth) with gross profit margins of 60%–62%, net income of $13M–$16M (≈$0.21–$0.26 per diluted share), and adjusted EBITDA of $30M–$33M (≈$0.49–$0.53 per diluted share); those outlooks follow a strong Q1 that produced $28.0M revenue (↑50.8% YoY; above prior guidance of $27.0M–$27.5M), $5.4M net income ($0.09/share), $10.6M adjusted EBITDA ($0.17/share) and expanded margins (gross margin 65%, operating margin 23.8%, adjusted EBITDA margin 37.8%); management expects to exit the quarter with 147–150 active patient affordability programs (141 today, 135 at quarter end, targeting >55 net program adds in 2026), patient affordability revenue of $15.7M in Q1 (↑81.9% YoY), plasma revenue of $11.7M in Q1 (↑24.9% YoY) with 573 centers at quarter end and an expected 555–560 centers after recent closures, $20.5M unrestricted cash (plus $159M restricted), zero bank debt, a Q1 effective tax rate of 27.2%, and a diluted share count of ~61M used for per‑share guidance.Paysign Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
90
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 100.64M | 82.03M | 58.38M | 47.27M | 38.03M | 29.46M |
| Gross Profit | 56.54M | 40.40M | 32.20M | 24.14M | 20.95M | 14.71M |
| EBITDA | 27.08M | 18.35M | 10.13M | 6.39M | 2.79M | -1.12M |
| Net Income | 15.77M | 7.55M | 3.82M | 6.46M | 1.03M | -2.72M |
Balance Sheet | ||||||
| Total Assets | 316.99M | 276.25M | 179.03M | 146.60M | 108.24M | 84.05M |
| Cash, Cash Equivalents and Short-Term Investments | 27.37M | 21.07M | 10.77M | 16.99M | 9.71M | 7.39M |
| Total Debt | 5.71M | 14.03M | 2.93M | 3.31M | 3.67M | 4.01M |
| Total Liabilities | 256.83M | 227.76M | 148.59M | 122.11M | 91.95M | 71.06M |
| Stockholders Equity | 60.16M | 48.49M | 30.44M | 24.49M | 16.29M | 12.99M |
Cash Flow | ||||||
| Free Cash Flow | 67.11M | 51.24M | 13.46M | 20.57M | 21.23M | 12.55M |
| Operating Cash Flow | 71.32M | 52.45M | 22.95M | 27.62M | 25.32M | 15.23M |
| Investing Cash Flow | -7.36M | -10.09M | -9.49M | -7.05M | -4.09M | -2.68M |
| Financing Cash Flow | -4.80M | 284.87K | -466.25K | -1.12M | 0.00 | 192.14K |
Paysign Technical Analysis
Positive
8.69
Price Trends
8.28
Positive
7.04
Positive
5.84
Positive
Market Momentum
0.78
Negative
83.73
Negative
93.06
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PAYS, the sentiment is Positive. The current price of 8.69 is below the 20-day moving average (MA) of 9.29, above the 50-day MA of 8.28, and above the 200-day MA of 5.84, indicating a bullish trend. The MACD of 0.78 indicates Negative momentum. The RSI at 83.73 is Negative, neither overbought nor oversold. The STOCH value of 93.06 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PAYS.
Paysign Risk Analysis
Paysign disclosed 28 risk factors in its most recent earnings report. Paysign reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Global and regional economic conditions could harm our business. Q4, 2023
Paysign Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $500.92M | 46.98 | 30.13% | ― | 43.38% | 66.05% | |
74 Outperform | $2.42B | 35.64 | 7.27% | ― | 7.19% | -36.03% | |
70 Outperform | $352.35M | -1.31 | -46.76% | ― | 1.00% | -2032.50% | |
70 Outperform | $2.76B | 59.96 | 15.70% | ― | 27.12% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
50 Neutral | $319.87M | -0.62 | -116.83% | ― | -58.96% | -44.30% | |
46 Neutral | $356.92M | 13.84 | 16.51% | ― | -10.94% | -50.17% |
* Technology Sector Average
PAYS
Paysign
12.48
6.87
122.46%
IMXI
International Money Express
12.19
-2.71
-18.19%
RPAY
Repay Holdings
3.95
-1.41
-26.31%
AVPT
AvePoint
12.79
-1.93
-13.11%
PAYO
Payoneer
7.10
0.47
7.09%
BKKT
Bakkt Holdings, Inc. Class A
7.53
-2.39
-24.09%
Paysign Corporate Events
Executive/Board ChangesShareholder Meetings
Paysign Shareholders Reelect Board and Ratify Auditor
Positive
May 13, 2026
On May 8, 2026, Paysign held its annual meeting of stockholders, where shareholders voted on the election of seven directors to the board to serve until the 2027 annual meeting. All seven nominees, including Mark R. Newcomer, Matthew Lanford and J...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.