Business
Paysign, Inc. Reports Third-Quarter 2021 Financial Results
Third-quarter total revenues of $7.8 million, a year-over-year increase of $7.9 million Third-quarter plasma revenue of $7.0 million, a year-over-year
About this update from Paysign, Inc.
[{"type":"text","content":"\n\nThird-quarter total revenues of $7.8 million, a year-over-year increase of $7.9 million\n\n\nThird-quarter plasma revenue of $7.0 million, a year-over-year increase of $1.8 million or 35.6%\n\n\nThird-quarter net loss of $0.3 million, or diluted earnings per share (EPS) of ($0.01)\n\n\nThird-quarter adjusted EBITDA of $1.0 million, or diluted adjusted EBITDA per share of $0.02\n\n\nThird-quarter purchase transactions and purchase dollar volume increased 14.6% and 33.9% year-over-year, respectively\n\n\nThird-quarter total loads and total gross dollar load volume increased 1.9% and 24.7% year-over-year, respectively\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 reported financial results for the third quarter of 2021.\n\n“We are pleased to report significant improvements in our revenue and operating results for the third quarter. Our total revenue for the quarter was $7.8 million, which is an increase of $1.1 million or 16.8% from the second quarter of 2021. Our adjusted EBITDA experienced an almost threefold increase over the same period. We also experienced solid year-over-year increases in the gross funds loaded on cards,” said Mark Newcomer, Paysign CEO. “The combination of our team’s expertise in both payments and patient affordability is allowing us to create innovative and cost-effective solutions at the intersection of fintech and healthcare.”\n\n2021 Outlook\n\n“We had a solid third quarter with revenues, loss from operations, EBITDA and adjusted EBITDA all improving both sequentially and year-over-year. Additionally, our balance sheet improved sequentially as a result of this quarter’s performance. While we continue to see the residual effects of the pandemic on our business, we did see improving transactional trends as we moved through the quarter. We continue to believe that our business will improve in the fourth quarter with sequential revenue dollar growth being similar to what we experienced in the third quarter,” said Jeff Baker, Paysign CFO.\n\n“Due to the operating leverage in our business model, we are raising our gross profit margin forecast by 250 basis points to 49.0%, which is an increase of over 1,000 basis points versus...