PAYS · PaySign, Inc.

PaySign's Q1 2026 results showcased robust growth with revenues surging 50.8% to $28.04 million, primarily propelled by an 81.9% increase in pharma revenue to $15.68 million from adding 45 net patient affordability programs over the past year, reaching 135 active programs. Plasma revenue also rose 24.9% to $11.75 million, supported by 89 net new centers, ending the quarter with 573 centers despite minor attrition of underperformers. Gross margin expanded to 65.0% from 62.9% due to the higher-mix of pharma revenue, while operating margin leaped to 23.8% from 13.4%, reflecting fixed cost leverage and scalability. Net income doubled to $5.44 million or $0.09 per diluted share, with Adjusted EBITDA more than doubling to $10.59 million. CEO Mark Newcomer highlighted patient affordability as the largest revenue contributor and the plasma donor compensation business's strong performance, attributing success to purpose-built technology and industry expertise. CFO Jeff Baker noted results exceeded prior guidance, driven by mix shift toward patient affordability, and reaffirmed full-year outlook with revenue of $106.5M-$110.5M, net income $13M-$16M, and equal plasma/pharma contributions. Balance sheet remains strong with $20.55M unrestricted cash, zero debt, and growing restricted cash to $158.95M from customer deposits, positioning the company for continued investments and profitable growth amid a scalable platform.