PaySign, Inc. Q3 FY2025 earnings call

• Record revenue of $21.6 million, up 41.6% year over year; adjusted EBITDA $5 million, up 78%; net income $2.2 million, up 54%. • Patient affordability business grew 142% to $7.9 million, with 105 active programs and expectation to add 20-30 more by year-end. • Opened new 30,000 square foot patient support center, quadrupling support capacity. • Plasma donor compensation revenue $12.9 million, with average donor compensation per donation increasing. • Software as a Service engagement platform for plasma showing strong interest domestically and internationally, awaiting FDA 510 clearance.

Patient Affordability: Generated $7.9 million in revenue, up 142% year over year, accounting for 36.7% of quarterly revenues. Plasma Donor Compensation: Revenue grew 12.4% year over year to $12.9 million, with 595 active centers at quarter-end, and average donor compensation per donation increased during the quarter.

• Raised revenue guidance to $80.5 million to $81.5 million, midpoint growth 38.7%. • Pharma patient affordability revenue expected to be ~41% of total, up over 155% y/y; plasma ~57% of total. • Full-year gross profit margins expected ~60%. • Operating expenses between $41.5 million and $42.5 million; adjusted EBITDA $19 million to $20 million.

• Oversupply of sourced plasma in the plasma industry expected to normalize in 2026. • Impact of FDA approval timing on the Software as a Service engagement platform for plasma. • Restrictions on disclosing client information due to master services agreements preventing detailed discussion of specific clients and programs.

Q: Could you help think through retail vs specialty pharmacy mix?

A: Matt Turner mentioned mix of retail vs specialty, with more retail programs in pipeline next year, and retail products having higher claims volumes due to more prescriptions.

Q: What does a mature program do in average revenue basis?

A: Jeffery B. Baker said it varies by program, with some doing $2,000 a month and others 20x that.

Q: Any uptick in donors due to SNAP benefits or ICE activity?

A: Jeffery B. Baker said no impact from ICE activity as donors need proper ID; no significant change seen from SNAP benefits shutdown.

Q: Timing for FDA approval of BECCS and sizing the opportunity?

A: Mark R. Newcomer said FDA approval expected sometime in fourth quarter going into first quarter, and it's early days to size the opportunity precisely but early interest is strong.