Business
Paysign, Inc. Reports Second Quarter 2023 Financial Results
Second quarter total revenues of $11.0 million, an increase of 28% compared to second quarter 2022Second quarter net loss of ($0.1) million and diluted loss
About this update from Paysign, Inc.
[{"type":"text","content":"Second quarter total revenues of $11.0 million, an increase of 28% compared to second quarter 2022Second quarter net loss of ($0.1) million and diluted loss per share of ($0.00)Second quarter Adjusted EBITDA of $1.1 million, an increase of 23% compared to second quarter 2022, and diluted Adjusted EBITDA per share of $0.02, unchanged from second quarter 2022 (Adjusted EBITDA and Adjusted EBITDA per share are non-GAAP metrics used by management to gauge the operating performance of the business - see reconciliation of net loss to Adjusted EBITDA at the end of the press release)Added four net new plasma donation centers during the second quarter, exiting the quarter with 443 centersLaunched five new patient affordability programs during the second quarter, exiting the quarter with 31 active programs, leading to a 133% increase in pharma patient affordability revenueSecond quarter gross dollar load volume up 7.9% and gross spend volume up 11.1% compared to second quarter 2022Repurchased 119,558 shares of common stock for $312 thousand, bringing year-to-date share repurchases to 319,558HENDERSON, NV / ACCESSWIRE / August 8, 2023 / Paysign, Inc. (NASDAQ:PAYS), a leading provider of prepaid card programs, comprehensive patient affordability offerings, digital banking services and integrated payment processing, today announced financial results for the second quarter 2023 ended June 30, 2023.\"We delivered strong revenue growth this quarter, a year-over-year increase of 28%, supported by the continued positive momentum in our plasma, patient affordability, and other areas of our business,\" said CEO Mark Newcomer. \"Our plasma business continues to provide a strong foundation of our revenue stream model as plasma donors continue to return to centers, approaching pre-pandemic levels. Additionally, we are especially pleased with the growth in both the pipeline and revenue exhibited by our patient affordability business. Prior to the launch of our patient affordability business, we had two types of pharma programs - pharma prepaid and pharma copay. With our pharma prepaid programs ending in 2022, our pharma copay programs will now be included as part of our patient affordability business which better reflects the comprehensive products and services we offer pharmaceutical companies. At Paysign, we remain dedicated to leveraging innovative ...