Paysign (PAYS) Q3 2026 earnings summary

Executive summary

• Q3 2026 revenue reached a record $30.80M, up 42.6% YoY; patient affordability growth lifted margins and earnings.

• 9M revenue grew 46.9% to $87.1M and net income rose to $18.9M from $6.2M.

• FY26 revenue guidance remained $114M–$117M while profitability guidance increased; a planned 113-center plasma transition is expected to weigh on Q4 and 2027 results.

Financial highlights

• Q3 gross profit was $19.92M, up 63.9% YoY; operating income rose to $7.32M from $1.58M and diluted EPS was $0.11 versus $0.04.

• GAAP net income increased to $6.74M from $2.22M; Adjusted EBITDA rose 118% to $10.98M from $5M.

• 9M gross profit increased 57.4% to $56.0M and operating income rose to $21.0M from $5.5M; adjusted 9M EBITDA was $31.2M versus $14.5M.

• Q3 operating expenses increased 19.2% to $12.60M; SG&A rose 22.8% to $10.29M, including $1.4M of stock-based compensation.

Outlook and guidance

• FY26 revenue outlook remained $114M–$117M; gross margin guidance was 63.5%–64.5%, GAAP net income $23M–$24M, diluted EPS $0.37–$0.38 and Adjusted EBITDA $38.5M–$40M.

• Year-end targets are 190–195 active patient affordability programs and 445–450 plasma centers; management expects 59–64 program additions in 2026.

• Patient affordability growth and planned launches are expected to sustain growth into 2027; the 113-center transition is expected to reduce Q4 revenue by $1.5M and gross profit by $700K.

• FY26 tax rate was expected at 21.3%; forecasted revenue and cash flows supported expected liquidity for at least 24 months, through Q3 2028.