Paysign Reports 41.6% Revenue Growth to $21.6 Million in Q3 2025

Paysign, Inc. reported significant financial growth in its latest quarterly results, with total revenues reaching $21.6 million for the three months ended September 30, 2025, a 41.6% increase from $15.3 million in the same period last year. The company's net income also saw a substantial rise, climbing to $2.2 million, up 54.2% from $1.4 million in the prior year. For the nine months ending September 30, 2025, total revenues were $59.3 million, a 38.6% increase compared to $42.8 million for the same period in 2024, while net income surged to $6.2 million from $2.4 million.

The growth in revenue was primarily driven by a 141.9% increase in the pharmaceutical sector, which generated $7.9 million in the third quarter, attributed to the launch of 39 new pharma patient affordability programs. The plasma industry revenue increased by 12.4% to $12.9 million, despite a slight decline in plasma donations. The company also reported a 50.4% increase in other revenues, reflecting growth in payroll, retail, and corporate incentive programs. However, the cost of revenues also rose, totaling $9.4 million for the quarter, which was a 39.3% increase year-over-year, primarily due to higher transaction processing fees and customer care expenses.

In terms of strategic developments, Paysign completed the acquisition of Gamma Innovation LLC on March 19, 2025, for a total consideration of approximately $15.6 million. This acquisition is expected to enhance Paysign's capabilities in donor engagement and management solutions, aligning with its focus on the blood and plasma collection industry. The company has also expanded its employee base, with increased hiring to support growth in its pharma patient affordability business, contributing to a rise in selling, general, and administrative expenses, which totaled $8.4 million for the quarter.

Operationally, Paysign reported a total of 117 new plasma centers added over the past year, contributing to its revenue growth. The number of claims processed in the pharma sector increased by over 60% compared to the previous year, indicating strong engagement and usage of its services. The company’s cash and restricted cash at the end of the quarter stood at $118.6 million, down from $122.3 million at the beginning of the period, primarily due to timing differences in receivables and payables related to its patient affordability business.

Looking ahead, Paysign plans to continue investing in technology improvements, sales and marketing, and regulatory compliance. The company believes that its available cash, along with projected revenues and cash flows, will be sufficient to sustain operations for the next 24 months. Paysign's management remains optimistic about its growth trajectory, particularly in the pharma sector, and is focused on leveraging its recent acquisition to enhance its service offerings and market presence.