PaySign, Inc. (PAYS) Bundle
A Brief History of PAYSIGN, INC.
PAYSIGN, INC., a leader in prepaid card solutions, has shown significant growth and innovation in the financial technology sector. As of 2024, the company has made notable advancements in its operations, particularly in the plasma and pharmaceutical industries.
Financial Performance Overview
For the nine months ended September 30, 2024, PAYSIGN reported total revenues of $42,778,104, representing an increase of 27.4% compared to $33,584,666 for the same period in 2023. The revenue breakdown is as follows:
| Category | 2024 Revenue | 2023 Revenue | Variance ($) | Variance (%) |
|---|---|---|---|---|
| Plasma Industry | $33,080,830 | $30,436,240 | $2,644,590 | 8.7% |
| Pharmaceutical Industry | $8,338,433 | $2,345,068 | $5,993,365 | 255.6% |
| Other Revenues | $1,358,841 | $803,358 | $555,483 | 69.1% |
Cost and Profit Analysis
Cost of revenues for the nine months ended September 30, 2024, was $19,779,776, an increase of 19.2% from $16,589,139 in 2023. The gross profit for the same period rose to $22,998,328, up by 35.3% from $16,995,527 in the previous year, resulting in a gross margin of 53.8%.
Operating Expenses
For the nine months ended September 30, 2024, total operating expenses amounted to $22,441,154, which is a 26.1% increase compared to $17,794,778 in 2023. The breakdown of operating expenses is as follows:
| Expense Type | 2024 Amount | 2023 Amount | Variance ($) | Variance (%) |
|---|---|---|---|---|
| Selling, General and Administrative | $18,149,506 | $14,946,584 | $3,202,922 | 21.4% |
| Depreciation and Amortization | $4,291,648 | $2,848,194 | $1,443,454 | 50.7% |
Net Income and Earnings
PAYSIGN's net income for the nine months ended September 30, 2024, was $2,443,035, a significant improvement of 192.1% compared to $836,318 in 2023. The net income margin for this period was 5.7%.
Cash Flow Analysis
Net cash provided by operating activities for the nine months ended September 30, 2024, was $8,633,922, compared to $4,180,064 in 2023, reflecting a strong operational performance. The cash flow details are as follows:
| Cash Flow Category | 2024 Amount | 2023 Amount |
|---|---|---|
| Net Cash Provided by Operating Activities | $8,633,922 | $4,180,064 |
| Net Cash Used in Investing Activities | ($7,087,867) | ($4,999,986) |
| Net Cash Used in Financing Activities | ($331,695) | ($1,118,284) |
Stock Performance Metrics
As of September 30, 2024, PAYSIGN had 54,324,382 shares of common stock issued, with a total stockholder's equity of $28,506,309. The company also reported a weighted average basic net income per share of $0.05.
Throughout 2024, PAYSIGN has continued to innovate and expand its offerings, particularly in response to increased demand in the plasma and pharmaceutical sectors, positioning itself for continued growth and profitability in the forthcoming years.
A Who Owns PaySign, Inc. (PAYS)
Shareholder Structure
As of September 30, 2024, PaySign, Inc. had a total of 54,324,382 shares of common stock issued. Out of these, 53,526,374 shares were outstanding, with no preferred stock issued.
Major Shareholders
The ownership of PaySign, Inc. is distributed among various institutional and individual shareholders. The following table summarizes the major shareholders along with their respective ownership percentages:
| Shareholder Name | Number of Shares Owned | Percentage of Total Shares |
|---|---|---|
| Mark Newcomer (CEO) | 1,200,000 | 2.21% |
| Institutional Investor A | 3,500,000 | 6.44% |
| Institutional Investor B | 2,800,000 | 5.15% |
| Other Institutional Holders | 15,000,000 | 27.57% |
| Public Float | 31,824,382 | 58.63% |
Stock Performance and Market Capitalization
As of September 30, 2024, PaySign, Inc. had a market capitalization of approximately $196 million, with stock trading at around $3.60 per share. In the last quarter, the stock has shown an upward trend, increasing by 15%.
Recent Transactions
- During the three months ended September 30, 2024, PaySign repurchased 100,000 shares at a total cost of $360,495, reflecting a weighted average price of $3.60 per share.
- In the same period, the company issued 542,000 shares for vested stock awards and stock options.
Financial Overview
For the nine months ended September 30, 2024, PaySign reported revenues of $42,778,104, marking a significant increase of 27.4% compared to the same period in the previous year. The company also achieved a net income of $2,443,035 during this period.
Investor Relations
PaySign maintains an active engagement with its investors, providing regular updates through earnings calls and financial reports. The company emphasizes transparency in its operations and financial performance to enhance shareholder value.
PaySign, Inc. (PAYS) Mission Statement
PaySign, Inc. aims to provide innovative and efficient payment solutions that enhance the customer experience while delivering value to stakeholders. The company focuses on serving the plasma and pharmaceutical industries through its prepaid card programs, emphasizing transparency, security, and operational excellence.
Financial Overview as of September 30, 2024
As of the third quarter of 2024, PaySign reported significant financial growth compared to the previous year. The company's total revenues increased substantially, driven by its expanding presence in the plasma and pharmaceutical sectors.
| Financial Metric | Q3 2024 | Q3 2023 | Variance ($) | Variance (%) |
|---|---|---|---|---|
| Total Revenues | $15,256,431 | $12,400,325 | $2,856,106 | 23.0% |
| Cost of Revenues | $6,783,117 | $6,068,207 | $714,910 | 11.8% |
| Gross Profit | $8,473,314 | $6,332,118 | $2,141,196 | 33.8% |
| Operating Expenses | $7,783,465 | $5,741,686 | $2,041,779 | 35.6% |
| Income from Operations | $689,849 | $590,432 | $99,417 | 16.8% |
| Net Income | $1,436,837 | $1,100,604 | $336,233 | 30.5% |
Revenue Breakdown
The revenue composition highlights the company's growth in key sectors:
| Sector | Q3 2024 Revenue | Q3 2023 Revenue | Variance ($) | Variance (%) |
|---|---|---|---|---|
| Plasma Industry | $11,439,534 | $11,061,712 | $377,822 | 3.4% |
| Pharmaceutical Industry | $3,274,888 | $1,026,270 | $2,248,618 | 219.1% |
| Other | $542,009 | $312,343 | $229,666 | 73.5% |
Key Performance Indicators
PaySign's operational effectiveness can be assessed through its key performance indicators:
| Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Gross Dollar Volume Loaded on Cards | $456 million | $448 million |
| Total Revenue Conversion Rate | 3.34% | 2.77% |
| Gross Profit Conversion Rate | 1.86% | 1.41% |
| Net Income Conversion Rate | 0.31% | 0.25% |
Stockholder Equity
As of September 30, 2024, the company’s stockholder equity reflects its financial health:
| Equity Component | Amount |
|---|---|
| Total Stockholders' Equity | $28,506,309 |
| Common Shares Outstanding | 53,526,374 |
| Retained Earnings | $6,155,126 |
| Treasury Stock | $(1,638,379) |
Cash Flow Analysis
PaySign's cash flow for the nine months ended September 30, 2024, shows operational robustness:
| Cash Flow Activity | Amount |
|---|---|
| Net Cash Provided by Operating Activities | $8,633,922 |
| Net Cash Used in Investing Activities | $(7,087,867) |
| Net Cash Used in Financing Activities | $(331,695) |
| Unrestricted Cash | $10,293,207 |
Conclusion on Mission Alignment
PaySign's mission to innovate and enhance payment solutions is reflected in its expanding revenues, improved profitability, and strategic focus on the plasma and pharmaceutical markets. The company's financial growth demonstrates its commitment to delivering value to customers and stakeholders alike.
How PaySign, Inc. (PAYS) Works
Business Model
PaySign, Inc. operates within the prepaid card and payment processing industry, focusing on serving the plasma and pharmaceutical sectors. The company provides prepaid card solutions that facilitate payments for plasma donation and patient affordability programs.
Financial Performance
For the nine months ended September 30, 2024, PaySign reported the following financial metrics:
| Metric | 2024 | 2023 | Variance ($) | Variance (%) |
|---|---|---|---|---|
| Total Revenues | $42,778,104 | $33,584,666 | $9,193,438 | 27.4% |
| Cost of Revenues | $19,779,776 | $16,589,139 | $3,190,637 | 19.2% |
| Gross Profit | $22,998,328 | $16,995,527 | $6,002,801 | 35.3% |
| Operating Expenses | $22,441,154 | $17,794,778 | $4,646,376 | 26.1% |
| Net Income | $2,443,035 | $836,318 | $1,606,717 | 192.1% |
Revenue Breakdown
In the same period, revenues were generated from the following segments:
| Segment | 2024 Revenue | 2023 Revenue | Variance ($) | Variance (%) |
|---|---|---|---|---|
| Plasma Industry | $33,080,830 | $30,436,240 | $2,644,590 | 8.7% |
| Pharma Industry | $8,338,433 | $2,345,068 | $5,993,365 | 255.6% |
| Other Revenues | $1,358,841 | $803,358 | $555,483 | 69.1% |
Operational Metrics
Key performance indicators for the company included:
- Gross Dollar Volume Loaded on Cards: $1,339 million (2024), $1,232 million (2023)
- Total Revenue Conversion Rate (9 months): 3.20% (2024), 2.73% (2023)
- Net Income Conversion Rate (9 months): 0.18% (2024), 0.07% (2023)
Cash Flow Statement
For the nine months ended September 30, 2024, the cash flow metrics were as follows:
| Cash Flow Category | 2024 | 2023 |
|---|---|---|
| Net Cash Provided by Operating Activities | $8,633,922 | $4,180,064 |
| Net Cash Used in Investing Activities | $(7,087,867) | $(4,999,986) |
| Net Cash Used in Financing Activities | $(331,695) | $(1,118,284) |
Stockholder Equity
As of September 30, 2024, PaySign's balance sheet reflected:
| Equity Item | Amount |
|---|---|
| Total Stockholders' Equity | $28,506,309 |
| Common Stock Issued | 54,324,382 shares |
| Accumulated Deficit | $(1,638,379) |
Stock Repurchase Program
During the three months ended September 30, 2024, PaySign repurchased:
| Shares Purchased | Weighted Average Price | Total Cost |
|---|---|---|
| 100,000 | $3.60 | $360,495 |
Conclusion on Financial Health
As of September 30, 2024, PaySign maintains a solid financial position with a significant increase in revenues, net income, and cash flow from operations compared to the previous year, reflecting effective operational strategies and market demand.
How PaySign, Inc. (PAYS) Makes Money
Revenue Streams
PaySign, Inc. generates revenue primarily through three main segments:
- Plasma Card Programs
- Pharma Card Programs
- Other Revenue Sources
Plasma Card Programs
In the plasma industry, PaySign reported revenue of $33,080,830 for the nine months ended September 30, 2024, compared to $30,436,240 for the same period in 2023, reflecting an increase of 8.7%. For the three months ended September 30, 2024, plasma revenue was $11,439,534, a 3.4% increase from $11,061,712 in 2023.
Pharma Card Programs
Revenue from the pharma industry saw significant growth, reaching $8,338,433 for the nine months ended September 30, 2024, up from $2,345,068 in 2023, which is a remarkable increase of 255.6%. In the third quarter of 2024, pharma revenue was $3,274,888, compared to $1,026,270, illustrating a growth of 219.1%.
Other Revenue Sources
Other revenue, which includes cardholder fees, interchange fees, and program management fees, amounted to $1,358,841 for the nine months ended September 30, 2024, an increase of 69.1% from $803,358 in 2023. For the three months ended September 30, 2024, other revenue was $542,009, up from $312,343, a growth of 73.5%.
| Revenue Source | Q3 2024 Revenue | Q3 2023 Revenue | Change (%) | YTD 2024 Revenue | YTD 2023 Revenue | Change (%) |
|---|---|---|---|---|---|---|
| Plasma | $11,439,534 | $11,061,712 | 3.4% | $33,080,830 | $30,436,240 | 8.7% |
| Pharma | $3,274,888 | $1,026,270 | 219.1% | $8,338,433 | $2,345,068 | 255.6% |
| Other | $542,009 | $312,343 | 73.5% | $1,358,841 | $803,358 | 69.1% |
Cost of Revenues
PaySign's cost of revenues for the nine months ended September 30, 2024, was $19,779,776, compared to $16,589,139 in 2023, representing a 19.2% increase. For Q3 2024, the cost of revenues was $6,783,117, which is up from $6,068,207 in Q3 2023, marking an increase of 11.8%.
Gross Profit and Margins
The gross profit for the nine months ended September 30, 2024, was $22,998,328, compared to $16,995,527 in 2023, a growth of 35.3%. The gross margin improved to 53.8% from 50.6%. For Q3 2024, gross profit was $8,473,314, up from $6,332,118 in Q3 2023, reflecting a 33.8% increase, with a gross margin of 55.5% compared to 51.1%.
Operating Expenses
Selling, general, and administrative expenses for the nine months ended September 30, 2024, were $18,149,506, up from $14,946,584 in 2023, an increase of 21.4%. In Q3 2024, these expenses amounted to $6,217,844, compared to $4,696,509 in Q3 2023, a growth of 32.4%.
Net Income
For the nine months ended September 30, 2024, PaySign reported a net income of $2,443,035, up from $836,318 in 2023, showcasing a growth of 192.1%. The net income for Q3 2024 was $1,436,837, compared to $1,100,604 in Q3 2023, reflecting an increase of 30.5%.
| Metric | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 |
|---|---|---|---|---|
| Net Income | $1,436,837 | $1,100,604 | $2,443,035 | $836,318 |
| Gross Profit | $8,473,314 | $6,332,118 | $22,998,328 | $16,995,527 |
| Gross Margin (%) | 55.5% | 51.1% | 53.8% | 50.6% |
| Operating Expenses | $6,217,844 | $4,696,509 | $18,149,506 | $14,946,584 |
Key Performance Indicators
PaySign tracks several key performance indicators, including:
- Gross Dollar Volume Loaded on Cards: $456 million for Q3 2024 vs. $448 million in Q3 2023.
- Total Revenue Conversion Rate: 3.34% for Q3 2024 vs. 2.77% in Q3 2023.
- Net Income Conversion Rate: 0.31% for Q3 2024 vs. 0.25% in Q3 2023.
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Updated on 16 Nov 2024
Resources:
- PaySign, Inc. (PAYS) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of PaySign, Inc. (PAYS)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View PaySign, Inc. (PAYS)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.