Paysign Q2 Earnings Call Highlights

Record Q2 performance: Revenue rose 48.1% year over year to $28.3 million, while net income reached $6.8 million and adjusted EBITDA more than doubled to $9.6 million, exceeding guidance. Patient Affordability led growth: Revenue surged 88.9% to $14.6 million, supported by 148 active programs at quarter-end and 13 launches during the quarter. Plasma revenue also improved 21.4% as center utilization recovered. Outlook raised: Paysign increased its 2026 revenue guidance to $114 million–$117 million and adjusted EBITDA guidance to $35 million–$38 million; the company ended the quarter with $27.4 million in unrestricted cash and no bank debt. Paysign NASDAQ: PAYS reported record second-quarter revenue, net income and adjusted EBITDA for 2026, driven primarily by continued expansion in its Patient Affordability business and improving utilization in its plasma donor compensation operations. Revenue rose 48.1% from a year earlier to $28.3 million, exceeding the high end of the company’s guidance range of $26.2 million to $26.7 million. GAAP net income increased to $6.8 million, or $0.11 per diluted share, from $1.4 million, or $0.02 per diluted share, in the prior-year quarter. Adjusted EBITDA more than doubled to $9.6 million from $4.5 million. “Earlier today, we reported second quarter results setting new records for revenue, net income, and adjusted EBITDA,” President and CEO Mark Newcomer said. “In fact, it was our second consecutive quarter of exceeding our quarterly guidance.” Patient Affordability Drives Growth Patient Affordability revenue increased 88.9% year over year to $14.6 million, surpassing plasma revenue for the quarter. Processed claims rose about 54% from the second quarter of 2025, while the company exited the period with 148 active programs, compared with 97 a year earlier. Paysign launched 13 new Patient Affordability programs during the quarter. As of the earnings announcement, the company had 157 active programs and expects to finish the third quarter with 165 to 170 programs. Newcomer said the platform had distributed more than $900 million in financial assistance to patients during the first half of 2026, approaching the nearly $1 billion it deployed during all of 2025. He also said Paysign’s dynamic business rules technology protected clients from more than $300 million in costs during the first six months that could otherwise have been diverted by copay maximizer and accumulator programs. Chief Financial Officer Jeff Baker said patient affordability revenue growth reflected higher management, setup and claim-processing fees, contact-center support and other billable services, including dynamic business rules. During the question-and-answer session, Baker said new programs remain the principal source of Patient Affordability growth, though certain established programs can grow as clients add services, products or drug indications. Matt Turner, President of Patient Affordability, said the company seeks to launch programs with dynamic business rules where appropriate, particularly for specialty products affected by maximizer programs. Turner said Paysign’s request-for-proposal and request-for-information win rate was above 80%, although he did not provide a precise figure. He added that about 75% of wins currently come through RFPs and RFIs, with the remainder coming through word-of-mouth referrals or direct awards. Plasma Business Shows Recovery Plasma revenue rose 21.4% to $13 million. Average monthly revenue per center increased more than 5% to $7,699, from $7,098 a year earlier, while average loads per center also increased year over year. The company ended the second quarter serving 561 centers, reflecting 19 c...