Paysign stock gains after strong guidance, Q4 earnings beat

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Paysign (NASDAQ:PAYS) stock gapped up 9.2% in Tuesday after-hours trading after issuing above-consensus guidance for revenue both in Q1 and full-year 2024. On top of that, its earnings and revenue for the last quarter of 2023 exceeded Wall Street expectations.

The provider of prepaid card products and processing services expects 2024 revenue to be $54.5M-$56.7M, vs. $52.2M average analyst estimate (four estimates), reflecting year-over-year growth of 15%-20%.

Plasma is expected to make up 80%-85% of total revenue for the year. “To date this year we have already added five new plasma centers and launched ten new pharma patient affordability programs,” noted Chief Financial Officer Jeff Baker.

Net income per share, though, is expected to be $0.04-$0.06, vs. $0.07 consensus and $0.12 in 2023. Adjusted EBITDA is forecast to be $8.0M-$9.0M.

For Q1 2024, it sees revenue of $12.0M-$13.0M, vs. $11.7M consensus (two estimates), reflecting the seasonal impact of tax refunds on the company’s plasma business. And adjusted EBITDA for the quarter is expected to be $1.20M-$1.50M.

Q4 2023 GAAP EPS of $0.10, topping the $0.02 expected, advanced from $0.01 in the year-earlier period. Revenue of $13.7M, surpassing the $12.4M consensus, rose from $10.6M a year before.

Adjusted EBITDA of $2.51M climbed from $1.75M in Q4 2022. Adjusted EBITDA per share of $0.05 increased from $0.03 a year ago.

Earlier, Paysign (PAYS) GAAP EPS of $0.10 beats by $0.08, revenue of $13.69M beats by $1.33M.

Harry Byrne

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