Paysign sees FY24 EPS 4c-6c, consensus 3c

Sees FY24 revenue $54.5M-$56.7M, consensus $52.24M. “We delivered solid fourth quarter and full-year 2023 financial results, meeting or exceeding our revenue and adjusted EBITDA guidance that we laid out over a year ago. Revenue for the year increased 24% to $47.3M and adjusted EBITDA increased 21% to $6.7M. We exited the year with 464 plasma centers, representing approximately 39% market share in the United States, and 43 pharma patient affordability programs, more than double the number of programs we had at the end of 2022. Our decision five years ago to invest in our pharma patient affordability business as another growth engine is paying off and we expect that momentum to continue throughout 2024,” said Jeff Baker, Paysign CFO. “For the FY24, we expect total revenues to be in the range of $54.5M-$56.7M, reflecting year-over-year growth of 15% to 20%, with plasma making up between 80%-85% of total revenue. Pharma revenue is expected to grow at least 100% year-over-year as we receive a full-year benefit for all pharma patient affordability programs added in 2023 and continue to add new pharma patient affordability programs throughout 2024. To date this year we have already added five new plasma centers and launched ten new pharma patient affordability programs. Full-year gross profit margins are expected to be between 52.0%-54.0% reflecting increased revenue contribution from our pharma patient affordability business. Operating expenses are expected to be between $29.0M-$31.0M as we continue to make investments in people and technology. Of this amount, depreciation and amortization are expected to be between $6.0M-$6.5M, while stock-based compensation is expected to be between $2.7M-$3.0M. Given our large unrestricted and restricted cash balances and the current interest rate environment, we expect to generate interest income of $2.6M-$2.9M. Taking all of the factors above into consideration, we expect net income to be in the range of $2.0M-$3.0M, or 4c-6c per diluted share, and adjusted EBITDA to be in the range of $8.0M-$9.0M, or 15c-17c per diluted share.”