Paysign, Inc. PAYS
on The Nasdaq Stock Market LLC. We are a vertically integrated provider of prepaid card products and processing services for corporate,
consumer and government entities. Our payment solutions are utilized by our corporate customers as a means to increase customer loyalty,
increase patient adherence rates, reduce administration costs and streamline operations. We market our prepaid card solutions under our
Paysign® brand. As we are a payment processor and prepaid card program manager, we derive our revenue from all stages of the prepaid
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $82.0M | $58.4M | $47.3M | $38.0M | $29.5M | $24.1M | $34.7M | $23.4M | $15.2M | $10.4M |
| Cost of revenue | $33.3M | $26.2M | $23.1M | $17.1M | $14.8M | $14.8M | $15.4M | $12.0M | $8.5M | $5.9M |
| Gross profit | $48.7M | $32.2M | $24.1M | $21.0M | $14.7M | $9.3M | $19.2M | $11.4M | $6.7M | $4.5M |
| SG&A | $33.0M | $25.2M | $20.3M | $17.7M | $15.0M | $15.1M | $11.7M | $7.8M | $4.1M | $2.6M |
| Total operating expenses | $41.4M | $31.2M | $24.3M | $20.6M | $17.5M | $17.6M | $13.1M | $8.9M | — | — |
| Operating income | $7.4M | $1.0M | -$167.3K | $344.3K | -$2.7M | -$8.3M | $6.1M | $2.5M | $1.8M | $1.4M |
| Interest expense | — | — | — | — | — | — | — | $139.7K | $7.6K | $77.1K |
| Pre-tax income | $10.0M | $4.1M | $2.4M | $1.1M | -$2.7M | -$8.2M | $6.5M | $2.6M | $1.8M | $1.3M |
| Income tax | $2.5M | $322.3K | $4.1M | $107.5K | $10.2K | $894.2K | $910.0K | $0 | $6.0K | $0 |
| Net income | $7.6M | $3.8M | $6.5M | $1.0M | -$2.7M | -$9.1M | $7.5M | $2.6M | $1.8M | $1.4M |
| EPS, basic | 0.14 | 0.07 | 0.12 | 0.02 | -0.05 | -0.19 | 0.16 | 0.06 | 0.04 | 0.04 |
| EPS, diluted | 0.13 | 0.07 | 0.12 | 0.02 | -0.05 | -0.19 | 0.14 | 0.05 | 0.04 | 0.03 |
| Shares, diluted (wtd. avg.) | $59.6M | $55.6M | $54.2M | $52.9M | $51.0M | $49.3M | $54.6M | $52.0M | $48.0M | $43.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $165.0M | $122.3M | $109.4M | $89.9M | $68.7M | $55.9M | $45.6M | $31.7M | $17.2M | $11.6M |
| Receivables | $72.2M | $32.6M | $16.2M | $4.7M | $3.4M | $512.1K | $891.9K | $337.3K | $165.5K | $110.3K |
| Total current assets | $240.1M | $158.8M | $129.2M | $97.7M | $74.3M | $58.0M | $47.9M | $33.2M | $17.9M | $12.0M |
| Property, plant and equipment | $1.9M | $1.2M | $1.1M | $1.3M | $1.6M | $1.8M | $937.2K | $883.5K | $854.4K | $300.8K |
| Goodwill | $4.5M | $0 | — | — | — | — | — | — | — | — |
| Other intangibles | $22.3M | $12.2M | $8.8M | $5.7M | $4.1M | $3.7M | $3.8M | $2.1M | $1.6M | $1.6M |
| Total assets | $276.3M | $179.0M | $146.6M | $108.2M | $84.1M | $67.8M | $53.5M | $36.2M | $20.4M | $13.9M |
| Accounts payable | $70.5M | $34.3M | $26.5M | $8.1M | $5.8M | $2.2M | $1.5M | $1.3M | $1.1M | $765.6K |
| Short-term debt | $1.9M | $0 | — | — | — | — | — | — | — | — |
| Total current liabilities | $216.3M | $146.1M | $119.2M | $88.6M | $67.4M | $50.6M | $34.2M | $27.3M | $15.6M | $11.1M |
| Long-term debt | $6.1M | $0 | — | — | — | — | — | — | $0 | $27.9K |
| Total liabilities | $227.8M | $148.6M | $122.1M | $92.0M | $71.1M | $54.6M | $34.2M | $27.3M | $15.6M | $11.2M |
| Retained earnings | $15.1M | $7.5M | $3.7M | -$2.7M | -$3.8M | -$1.1M | $8.1M | $579.6K | -$2.0M | -$3.8M |
| Total equity | $48.5M | $30.4M | $24.5M | $16.3M | $13.0M | $13.2M | $19.3M | $8.9M | $4.8M | $2.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $52.5M | $22.9M | $27.6M | $25.3M | $15.2M | $13.8M | $16.7M | $16.0M | $7.2M | $4.2M |
| Depreciation and amortisation | $8.3M | $6.0M | $4.0M | $2.9M | $2.5M | $2.1M | $1.5M | $1.1M | $876.2K | $572.3K |
| Stock-based compensation | $4.3M | $2.6M | $2.9M | $2.3M | $2.3M | $3.0M | $2.5M | $1.4M | $308.7K | $92.9K |
| Capital expenditure | $1.2M | $434.9K | $262.6K | $105.2K | $328.6K | $1.4M | $463.7K | $257.1K | $707.2K | $109.9K |
| Investing cash flow | -$10.1M | -$9.5M | -$7.0M | -$4.1M | -$2.7M | -$3.3M | -$3.2M | -$1.6M | -$1.5M | -$887.0K |
| Financing cash flow | $284.9K | -$466.2K | -$1.1M | $0 | $192.1K | -$72.9K | $430.9K | $100.0K | -$102.1K | -$137.3K |
| Buybacks | $375.8K | $495.0K | $1.1M | $0 | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001683168-26-002180.
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