Paysign Reports 33.1% Revenue Growth to $19.1 Million in Q2 2025

Paysign, Inc. reported significant financial growth in its latest quarterly filing, with total revenues for the second quarter of 2025 reaching $19.1 million, a 33.1% increase from $14.3 million in the same period last year. The company's net income also saw a substantial rise, climbing to $1.4 million, compared to $697,102 in the prior year, marking a 99.1% increase. This growth was driven primarily by a 223.3% surge in revenues from the pharmaceutical sector, which contributed $7.8 million, up from $2.7 million in Q2 2024. However, revenue from the plasma industry decreased by 4.7% to $10.7 million, attributed to a normalization of plasma inventory levels and a decline in donations.

In the first half of 2025, Paysign's total revenues increased by 36.9% to $37.7 million, compared to $27.5 million in the same period of 2024. The company reported a net income of $4.0 million for the six months ended June 30, 2025, a significant improvement from $1.0 million in the previous year. The increase in revenue was bolstered by the launch of 21 new pharma patient affordability programs and a corresponding rise in management and processing fees. The number of claims processed also surged over 110% compared to the same period last year.

Operationally, Paysign expanded its customer base, adding 123 net plasma centers in the second quarter, which went live on June 16, 2025. The company also 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 technology offerings in donor engagement and management, aligning with its strategic focus on the healthcare sector. The integration of Gamma's solutions is anticipated to improve operational efficiencies and customer engagement.

Despite the positive financial performance, Paysign faced increased operating expenses, which rose by 38.3% to $10.3 million in Q2 2025, driven by higher compensation costs and investments in technology and security. The company's gross profit margin improved to 61.6%, up from 52.9% in the previous year, reflecting a favorable shift in revenue mix towards higher-margin pharmaceutical services. The company also reported a significant increase in stock-based compensation expenses, which totaled $954,400 for the quarter.

Looking ahead, Paysign remains optimistic about its growth trajectory, projecting continued revenue increases driven by its expanding pharma patient affordability programs and the integration of new technologies from the Gamma acquisition. The company plans to invest further in technology improvements, sales and marketing, and regulatory compliance to support its growth initiatives. With available cash of $11.8 million as of June 30, 2025, Paysign believes it has sufficient liquidity to sustain operations and pursue strategic opportunities over the next two years.