Business
Paysign, Inc. Reports Third Quarter 2022 Financial Results
Third quarter total revenues of $10.6 million, an increase of $2.8 million (36.4%) from third quarter 2021 Third quarter net income of $0.85 million, or
About this update from Paysign, Inc.
[{"type":"text","content":"\n\nThird quarter total revenues of $10.6 million, an increase of $2.8 million (36.4%) from third quarter 2021\n\n\nThird quarter net income of $0.85 million, or diluted earnings per share of $0.02\n\n\nThird quarter Adjusted EBITDA of $1.9 million, or diluted Adjusted EBITDA per share of $0.04 (Adjusted EBITDA is a non-GAAP metric 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\nAdded 13 plasma donation centers during the third quarter, bringing the year-to-date total additions to 84\n\n\nThird quarter gross dollar load volume up 57.6% versus the year-ago period and up 23.1% versus the previous quarter\n\n\nThird quarter purchase volume was up 58.6% versus the year-ago period and up 22.9% versus the previous quarter\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 third quarter of 2022.\n\n“We are very pleased with our third quarter performance as Paysign delivered impressive revenue growth and returned to profitability,” said Mark Newcomer, Paysign CEO. “Our top and bottom line growth trajectory continued in the third quarter, and gross margins increased to 54%. In addition to organic growth in our mature plasma centers, we benefited from a full quarter of revenue from the 49 plasma donation centers we onboarded late in the second quarter. Also, activity at our border locations started to ramp up late in the third quarter as the preliminary injunction handed down from the United States District Court on September 16, 2022, once again allowing individuals with tourist visas to donate plasma, went into effect. We continue to diversify our revenue stream with recent contract wins to provide payroll, general purpose reloadable and gift card solutions. We continue to see increased interest in our patient affordability solutions and remain confident that they will contribute meaningful growth in the future. Our pipeline across all product lines remains robust and we are confident that we have a solid foundation to continue to deliver short and long-term growth to help create shareholder value.”\n\nQuarterly R...