Paysign, Inc.

Listed Company

PAYSCIK 0001496443NasdaqNon-AcceleratedSmaller ReportingServices-Business Services, NecNevadaFY ends Dec 31

Period

FY 2025

Revenue

$82.03M

Net Income

$7.55M

Total Assets

$276.25M

Equity

$48.49M

Shares Out

55.19M

Op. Cash Flow

$52.45M

Business

Paysign, Inc. is a vertically integrated provider of prepaid card products and end-to-end payment processing services for corporate, consumer and government applications. It offers prepaid card solutions including general purpose reloadable cards, gift cards, corporate incentive and expense cards, pharmaceutical patient affordability and adjudicated claims processing, source plasma donor payment programs, DDA debit accounts, and related customer service and data analytics. Key business segments include corporate incentives, pharmaceutical and patient affordability products, plasma donor payments, and demand deposit account offerings. Its products are distributed through bank issuer partnerships, direct sales, integrations with client systems, kiosks, mobile app, and web portals.

Summary from filing dated 2025-03-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	82	58	47	38	29
Cost of revenues	33	26	23	17	15
Gross profit	49	32	24	21	15
Selling, general and administrative	33	25	20	18	15
Depreciation and amortization	8	6	4	3	2
Total operating expenses	41	31	24	21	17
Income from operations	7	1	−167,255	344,335	−3
Interest income, net	3	3	3	790,917	28,297
Income before income tax provision	10	4	2	1	−3
Income tax provision	2	322,290	−4	107,477	10,198
Net income	8	4	6	1	−3
Basic (per share)	0.14	0.07	0.12	0.02	−0.05
Diluted (per share)	0.13	0.07	0.12	0.02	−0.05
Basic (shares)	54	53	52	52	51
Diluted (shares)	60	56	54	53	51

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	21	11	17	10	7
Restricted cash	144	112	92	80	61
Accounts receivable, net	72	33	16	5	3
Other receivables	926,529	2	2	1	1
Prepaid expenses and other current assets	2	2	2	2	1
Total current assets	240	159	129	98	74
Fixed assets, net	2	1	1	1	2
Intangible assets, net	22	12	9	6	4
Goodwill	4	0	—	—	—
Operating lease right-of-use asset	6	3	3	4	4
Deferred tax asset, net	2	4	4	0	—
Total assets	276	179	147	108	84
Accounts payable and accrued liabilities	71	34	27	8	6
Operating lease liability, current portion	751,503	448,008	383,699	361,408	340,412
Other liabilities, current portion	2	0	—	—	—
Customer card funding	143	111	92	80	61
Total current liabilities	216	146	119	89	67
Operating lease liability, long-term portion	5	2	3	3	4
Other liabilities, long-term portion	6	0	—	—	—
Total liabilities	228	149	122	92	71
Commitments and contingencies (Note 10)	—	—	—	—	—
Preferred stock: $0.001 par value; 25,000,000 shares authorized; none issued and outstanding	0	0	0	0	0
Common stock; $0.001 par value; 150,000,000 shares authorized, 56,021,596 and 54,358,382 issued at December 31, 2025 and 2024, respectively	56,022	54,358	53,452	52,650	52,095
Additional paid-in capital	36	25	22	19	17
Treasury stock at cost, 934,708 shares and 834,708 shares, respectively	−2	−2	−1	−150,000	−150,000
Retained earnings	15	8	4	−3	−4
Total stockholders equity	48	30	24	16	13
Total liabilities and stockholders equity	276	179	147	108	84

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation expense	4	3	3	2	2
Noncash lease expense	591,786	422,103	399,813	378,817	331,027
Deferred income taxes, net	2	298,780	−4	0	—
Accounts receivable	−40	−16	−12	−1	−3
Other receivables	679,747	−20,293	−146,732	−420,033	−876,456
Prepaid expenses and other current assets	294,212	−227,148	−320,973	−456,841	132,397
Accounts payable and accrued liabilities	37	8	18	2	4
Operating lease liability	−431,089	−383,699	−361,408	−340,413	−320,636
Customer card funding	32	19	12	19	13
Net cash provided by operating activities	52	23	28	25	15
Purchase of fixed assets	−1	−434,901	−262,556	−105,186	−328,566
Capitalization of internally developed software	−7	−9	−7	−4	−2
Purchase of intangible assets	−83,401	−127,600	0	−185,000	−62,418
Net assets acquired in business combination	−2	0	—	—	—
Net cash used in investing activities	−10	−9	−7	−4	−3
Proceeds from exercise of stock options	660,654	28,800	9,600	0	192,141
Repurchase of common stock	−375,786	−495,045	−1	0	—
Net cash provided by (used in) financing activities	284,868	−466,245	−1	0	192,141
Net change in cash and restricted cash	43	13	19	21	13
Non-cash assets acquired in business combination	14	0	—	—	—
Non-cash liabilities incurred in business combination	−8	0	—	—	—
Common stock issued in business combination	−6	0	—	—	—
Right-of-use assets obtained in exchange for new operating lease liabilities, net	4	0	—	—	—
Cash paid for taxes	414,186	136,631	207,945	35,949	4,073

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