Paysign (PAYS) investor relations material

Business overview and market position

• Operates as a transaction and workflow engine across healthcare and financial sectors, focusing on plasma donor payments and pharmaceutical co-pay programs, with an integrated technology platform supporting both business lines.

• Holds approximately 45–45.5% U.S. plasma market share, serving unbanked and underbanked populations, with 554 facilities and 8.4 million cardholders as of May 2026.

• Patient affordability (pharma co-pay) business is rapidly growing, with trailing 12-month revenue up 116.9–117% to $40.9 million, 141 active pharma programs, and partnerships with 6 of the top 10 U.S. pharma manufacturers.

• Expects patient affordability to surpass plasma as the largest revenue contributor by 2025/2026, with both business lines expected to contribute equally to growth in 2026.

• Regulatory compliance is a core strength, with adherence to HIPAA, PCI DSS, SOC 1/2, BSA/AML, and BECS 510(k) pending.

Financial performance and outlook

• FY2025 revenue reached $82–$82.0 million, up 40.5% year-over-year, with adjusted EBITDA of $19.9–nearly $20 million, up 107–107.3%.

• FY2026 guidance projects revenue of $106.5–$110.5 million (30–35% growth) and adjusted EBITDA of $30–$33 million, with a balanced plasma/pharma split (~$54 million each).

• Gross margins improved from 55% in 2024 to 59.4–nearly 60% in 2025, with guidance for 60–62% in 2026.

• Operating leverage inflection achieved in FY2025, with SG&A/revenue ratio improving from 38.7% to 35.1% and EBITDA margin expanding to 24.3%.

• Maintains a capital-light model with zero bank debt, strong cash flow, and $110 million in cash on the balance sheet.

Technology, innovation, and competitive advantages

• Introduced open-book pricing and real-time data analytics for pharma clients, disrupting legacy black-box models.

• Proprietary Dynamic Business Rules algorithm detects and blocks maximizer/accumulator abuse with 97% first-fill efficacy, saving clients over $325 million in 2025.

• 24/7/365 in-house call center and claims adjudication enhance service quality and client retention.

• SaaS donor management platform (Apherion) acquired for $16 million, pending FDA approval, expected to generate recurring revenue and support international expansion.

• Integrated with two of the top three plasma hardware manufacturers, enabling plug-and-play software adoption.