PAYS

MKT CAP:$342M

PaySign, Inc.

Market Cap

$342M

Technology·Software - Infrastructure·🇺🇸 United States·NASDAQ

Technology·Software Infra·🇺🇸·NASDAQ

Stock Price

$6.29+$1.33 (+26.81%)

Apr 17, 2026

Company Details

PaySign, Inc. provides prepaid card products and processing services under the PaySign brand for corporate, consumer, and government applications. It offers various services, such as transaction processing, cardholder enrollment, value load...

CEO

Mark R. Newcomer

IPO Date

Oct 10, 2007

Website

www.paysign.com

Key Metrics TTM

Revenue

$82M

+40.5% YoY

Net Income

$8M

EPS (Diluted)

$0.13

Free Cash Flow

$44M

Revenue / Share

$1.33

Gross Margin

49.2%

Operating Margin

9.0%

Net Margin

9.2%

FCF Margin

53.3%

P/S

4.2x

P/E

45.3x

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Mar 25, 2026

$82M+40.5%EPS $0.13

Q4 2025

Mar 25, 2026

$23M+45.8%EPS $0.02

Q3 2025

Nov 13, 2025

$22M+41.6%EPS $0.04

Q2 2025

Aug 6, 2025

$19M+33.1%EPS $0.02

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$8M	$5M	-$321.8K
Q2 22	$9M	$5M	-$271.3K
Q3 22	$11M	$6M	$623.0K
Q4 22	$11M	$6M	$314.5K
Q1 23	$10M	$5M	-$742.8K
Q2 23	$11M	$6M	-$646.9K
Q3 23	$12M	$6M	$590.4K
Q4 23	$14M	$7M	$632.0K
Q1 24	$13M	$7M	-$258.4K
Q2 24	$14M	$8M	$125.7K
Q3 24	$15M	$8M	$689.8K
Q4 24	$16M	$9M	$464.3K
Q1 25	$19M	$12M	$2M
Q2 25	$19M	$12M	$1M
Q3 25	$22M	$12M	$2M
Q4 25	$23M	$5M	$2M

Valuation

Quarter	P/S	P/E
Q1 22	3.1x	—
Q2 22	2.5x	—
Q3 22	3.5x	301.1x
Q4 22	3.9x	145.3x
Q1 23	4.9x	164.7x
Q2 23	3.1x	99.8x
Q3 23	2.2x	63.3x
Q4 23	3.0x	21.7x
Q1 24	4.3x	31.4x
Q2 24	3.9x	27.3x
Q3 24	3.5x	24.4x
Q4 24	2.8x	43.1x
Q1 25	1.8x	18.6x
Q2 25	5.6x	56.9x
Q3 25	4.2x	41.8x
Q4 25	3.5x	37.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$5M	$4M
Q2 22	$11M	$10M
Q3 22	$15M	$14M
Q4 22	-$6M	-$7M
Q1 23	$3M	$2M
Q2 23	-$3M	-$4M
Q3 23	$4M	$2M
Q4 23	$23M	$21M
Q1 24	$8M	$6M
Q2 24	$21M	$18M
Q3 24	-$20M	-$23M
Q4 24	$14M	$12M
Q1 25	-$6M	-$8M
Q2 25	$4M	$2M
Q3 25	$7M	$5M
Q4 25	$48M	$46M

Capital Expenditures

Quarter	CapEx
Q1 22	$674.9K
Q2 22	$900.3K
Q3 22	$1M
Q4 22	$2M
Q1 23	$2M
Q2 23	$1M
Q3 23	$2M
Q4 23	$2M
Q1 24	$2M
Q2 24	$2M
Q3 24	$2M
Q4 24	$2M
Q1 25	$2M
Q2 25	$2M
Q3 25	$2M
Q4 25	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+30.9%	+8.0%
Q2 22	+29.3%	+16.9%
Q3 22	+36.4%	+24.0%
Q4 22	+21.1%	+18.9%
Q1 23	+23.4%	+27.4%
Q2 23	+28.4%	+31.8%
Q3 23	+17.0%	+18.4%
Q4 23	+28.9%	+26.7%
Q1 24	+30.0%	+23.5%
Q2 24	+29.8%	+21.5%
Q3 24	+23.0%	+23.3%
Q4 24	+14.0%	+16.0%
Q1 25	+41.0%	+19.8%
Q2 25	+33.1%	+24.2%
Q3 25	+41.6%	+37.4%
Q4 25	+45.8%	+38.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$569.5K	6.9%
Q2 22	$488.3K	5.7%
Q3 22	$566.2K	5.3%
Q4 22	$653.7K	6.2%
Q1 23	$618.2K	6.1%
Q2 23	$830.4K	7.5%
Q3 23	$709.8K	5.7%
Q4 23	$695.2K	5.1%
Q1 24	$664.0K	5.0%
Q2 24	$670.1K	4.7%
Q3 24	$573.5K	3.8%
Q4 24	$697.0K	4.5%
Q1 25	$672.3K	3.6%
Q2 25	$954.4K	5.0%
Q3 25	$1M	5.9%
Q4 25	$1M	6.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q3 22	—	—	$4M
Q4 22	$4M	$603.2K	—
Q3 23	—	—	$5M
Q4 23	$5M	$470.9K	—
Q4 24	$7M	$484.6K	—
Q4 25	—	—	$9M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	30.9%	4.3%	35.3
Q2 22	29.3%	5.1%	34.4
Q3 22	36.4%	12.9%	49.3
Q4 22	21.1%	15.4%	36.5
Q1 23	23.4%	1.0%	24.4
Q2 23	28.4%	2.8%	31.2
Q3 23	17.0%	18.2%	35.2
Q4 23	28.9%	11.1%	40.0
Q1 24	30.0%	7.8%	37.8
Q2 24	29.8%	10.9%	40.7
Q3 24	23.0%	14.8%	37.8
Q4 24	14.0%	13.9%	27.9
Q1 25	41.0%	23.1%	64.1
Q2 25	33.1%	18.6%	51.8
Q3 25	41.6%	20.2%	61.8
Q4 25	45.8%	17.8%	63.7

Rule of 40

Revenue Segments

Quarter	Other Revenue	Pharma Industry	Plasma Industry	Pharmaceutical Industry
Q2 24	$383.4K	$3M	$11M	—
Q3 24	$542.0K	—	$11M	$3M
Q1 25	$569.6K	$9M	$9M	—
Q2 25	$580.5K	$8M	$11M	—
Q3 25	$815.4K	$8M	$13M	—
Q4 25	$558.4K	$10M	$13M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$8M	$0	$8M
Q2 22	$7M	$0	$7M
Q3 22	$8M	$0	$8M
Q4 22	$10M	$0	$10M
Q1 23	$6M	$0	$6M
Q2 23	$8M	$0	$8M
Q3 23	$10M	$0	$10M
Q4 23	$17M	$0	$17M
Q1 24	$7M	$0	$7M
Q2 24	$31M	$0	$31M
Q3 24	$10M	$0	$10M
Q4 24	$11M	$0	$11M
Q1 25	$7M	$0	$7M
Q2 25	$12M	$0	$12M
Q3 25	$8M	$0	$8M
Q4 25	$21M	$0	$21M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	52M	-1.0%	+2.9%
Q2 22	52M	+0.3%	+2.5%
Q3 22	53M	+2.6%	+4.3%
Q4 22	54M	+0.8%	+2.7%
Q1 23	52M	-2.5%	+1.1%
Q2 23	52M	-0.3%	+0.5%
Q3 23	53M	+2.3%	+0.2%
Q4 23	54M	+0.5%	-0.0%
Q1 24	55M	+1.8%	+4.5%
Q2 24	56M	+2.0%	+6.9%
Q3 24	56M	+0.3%	+4.8%
Q4 24	56M	-0.9%	+3.3%
Q1 25	55M	-0.7%	+0.7%
Q2 25	58M	+5.0%	+3.6%
Q3 25	62M	+6.7%	+10.2%
Q4 25	62M	-0.2%	+11.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$102.8K	80
Q2 22	$107.5K	80
Q3 22	$132.5K	80
Q4 22	$1M	10
Q1 23	$1M	10
Q2 23	$1M	10
Q3 23	$1M	10
Q4 23	$595.2K	23
Q1 24	$573.5K	23
Q2 24	$623.1K	23
Q3 24	$663.3K	23
Q4 24	$213.8K	73
Q1 25	$254.8K	73
Q2 25	$261.3K	73
Q3 25	$295.8K	73
Q4 25	$875.2K	26

Revenue / Employee