Paysign (PAYS) investor relations material

Executive summary

• Achieved record Q2 2025 revenue of $19.1M, up 33% year-over-year, with net income nearly doubling to $1.4M and gross margin rising to 61.6%.

• Adjusted EBITDA more than doubled to $4.5M, with margin expanding to 23.7% from 15.6% year-over-year.

• Pharma patient affordability revenue surged 190% to $7.8M, now 40.6% of total revenue, offsetting a 4.7% decline in plasma revenue.

• Onboarded 123 new plasma centers, bringing total to 607 and market share to ~50%.

• Acquired Gamma Innovation LLC, expanding technology offerings and delivering operational benefits.

Financial highlights

• Q2 2025 revenues: $19.1M (up 33% YoY); net income: $1.4M (up 99% YoY); Adjusted EBITDA: $4.5M (up 100% YoY).

• Gross profit margin improved to 61.6% from 52.9% YoY, with gross profit up 55% to $11.76M.

• Operating expenses rose 36% to $10.3M, mainly from compensation, technology, and stock-based compensation.

• Unrestricted cash at quarter end: $11.8M; no bank debt.

• Net income margin improved to 7.3% from 4.9% YoY; Adjusted EBITDA margin: 23.7% (up from 15.6%).

Outlook and guidance

• 2025 revenue guidance raised to $76.5M–$78.5M, up 32.7% at midpoint.

• Plasma expected to be 56% of revenue (flat YoY); pharma patient affordability to be 40.5% (up 145%+ YoY).

• Full-year gross margin expected at 61–62%; net income $6M–$7M ($0.10–$0.12/diluted share); adjusted EBITDA $18M–$20M.

• Q3: revenue $19.5M–$20.5M, gross margin ~59%, adjusted EBITDA $4.5M–$5M.

• Management expects available cash and forecasted revenues to sustain operations for at least 24 months.