Business
Paysign, Inc. Reports Second Quarter 2024 Financial Results
Second quarter 2024 total revenues of $14.33 million, up 29.8% from second quarter 2023 Second quarter 2024 net income of $697 thousand, or diluted earnings
About this update from Paysign, Inc.
[{"type":"text","content":"\n\nSecond quarter 2024 total revenues of $14.33 million, up 29.8% from second quarter 2023\n\n\n\nSecond quarter 2024 net income of $697 thousand, or diluted earnings per share of $0.01, versus net loss of $104 thousand, or diluted earnings per share of $(0.00) for second quarter 2023\n\n\n\nSecond quarter 2024 Adjusted EBITDA of $2.24 million, up 95.8% from $1.14 million for second quarter 2023, while diluted Adjusted EBITDA per share was $0.04 versus $0.02 for second quarter 20231\n\n\n\nTotal plasma center count increased by eight net new centers during second quarter 2024, exiting the quarter with 477 centers, contributing to a 12.6% increase in plasma revenue versus the same period last year\n\n\n\nAdded eight net new patient affordability programs during second quarter 2024, exiting the quarter with 61 active programs, leading to a 266.8% increase in pharma patient affordability revenue over the same period last year\n\n\n\nExited the quarter with $31.29 million of unrestricted cash and zero debt; $22.71 million related to payment timing on pass-through claim reimbursement receivables and related payables\n\n\n\nSecond quarter 2024 gross dollar load volume was up 12.7% compared to second quarter 2023\n\n\n\nSecond quarter 2024 gross spend volume was up 11.2% compared to second quarter 2023\n\n\n\nSecond quarter 2024 average revenue per plasma center per month of $7,916, up 4.4%, versus $7,581 for second quarter 2023\n\n\n\nSecond quarter 2024 patient affordability claim volume increased 365.5%, versus second quarter 2023\n\n\n\n1Adjusted 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 income to Adjusted EBITDA at the end of the press release.\n\n\n HENDERSON, Nev.--(BUSINESS WIRE)--\nPaysign, 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 2024.\n\n\n“We are extremely pleased with Paysign’s second-quarter financial results, as we continue to grow our business at a rapid pace,” stated Mark Newcomer, President & CEO of Paysign. “In the second quarter, revenues grew 29.8%, and adjusted EBITDA grew 95.8%, driven by double-digit revenue growt...