Key Takeaways:
Paysign Inc. (NASDAQ: PAYS) reported record first-quarter revenue of $28 million, a 50.8% increase year-over-year, as its patient affordability business overtook plasma donor compensation as the company’s primary revenue source for the first time.
"Paysign delivered a strong start to 2026, with exceptional top- and bottom-line results that are consistent with our strategic direction and the scalability of the platform we've built," said Mark Newcomer, President and CEO of Paysign.
The fintech company's net income more than doubled to $5.4 million, or $0.09 per diluted share, from $2.6 million a year ago. Revenue from the pharma patient affordability segment jumped 81.9% to $15.7 million, while plasma revenue increased 25% to $11.7 million. Adjusted EBITDA rose 113% to $10.6 million.
The results mark a significant strategic milestone for Paysign, demonstrating a successful pivot toward the higher-margin pharmaceutical services market. The company maintained its full-year guidance but expressed confidence in reaching the high end, projecting revenue between $106.5 million and $110.5 million.
Paysign’s pharma business, which helps patients access and afford therapies, drove the quarter's outperformance. The company added 45 net new patient affordability programs over the last year, ending the quarter with 135 active programs. Processed claims in this segment increased by approximately 49% compared to the first quarter of 2025.
The company's plasma donor compensation business also grew, with revenue up 25% despite the closure of 22 centers since the end of 2025. Executives noted that average revenue per center increased, and cardholders from closed centers typically transition to other nearby locations.
Gross profit margin improved to 65% from 62.9% in the prior-year quarter, which the company attributed to the greater mix of higher-margin pharma revenue.
The strong quarter highlights Paysign's successful diversification and the increasing profitability of its business model as it scales. Investors will be watching the company's second-quarter report to see if the momentum in the patient affordability segment continues and for updates on its plasma center footprint.
This article is for informational purposes only and does not constitute investment advice.
