Paysign Reports 50.8% Revenue Growth to $28.0 Million in Latest Quarter

Paysign, Inc. reported significant financial growth in its latest quarterly results, with total revenues reaching $28.0 million for the three months ended March 31, 2026, a 50.8% increase from $18.6 million in the same period last year. The company's net income also saw a substantial rise, climbing to $5.4 million, or $0.10 per share, compared to $2.6 million, or $0.05 per share, in the prior year. This growth was primarily driven by increased revenues from both the plasma and pharmaceutical sectors, which saw increases of 24.9% and 81.9%, respectively.

The company's operational metrics reflect a strong performance, with the number of claims processed increasing by approximately 49% year-over-year. Additionally, Paysign added 89 net plasma centers and launched 45 new pharma patient affordability programs over the past year, contributing to the revenue growth. The gross profit margin improved to 65.0%, up from 62.9% in the previous year, indicating a more favorable revenue mix, particularly from the higher-margin pharma business.

In terms of expenses, Paysign's operating costs rose to $11.6 million, a 25.5% increase from the previous year, largely due to higher selling, general, and administrative expenses, which included increased compensation and stock-based compensation costs. The company also reported a significant rise in depreciation and amortization expenses, attributed to the amortization of intangible assets from its acquisition of Gamma Innovation LLC, which was completed in March 2025.

As of March 31, 2026, Paysign's total assets increased to $312.7 million, up from $276.3 million at the end of 2025, driven by higher accounts receivable and restricted cash. The company’s cash and restricted cash totaled $179.5 million, reflecting a strong liquidity position. Paysign's total liabilities also rose to $257.7 million, primarily due to increased customer card funding liabilities, which reached $158.1 million, up from $143.2 million at the end of 2025.

Looking ahead, Paysign plans to continue investing in technology improvements, sales and marketing, and regulatory compliance to support its growth strategy. The company expects that its current cash position, along with projected revenues, will be sufficient to sustain operations for the next 24 months. Management remains optimistic about the future, citing the potential for further expansion in both existing and new market verticals.