Paysign on Thursday outlined plans for two-digit percentage revenue growth in 2026, highlighting expansion across its plasma donation and drug affordability platforms during a presentation at the 17th Annual Midwest IDEAS Conference.
The company reported total revenue of $82 million in 2025, a 40.5% increase from $58.4 million in 2024, while adjusted EBITDA surged 107% to approximately $19.8 million to $20 million. Gross margin reached 59.4%, with net income of roughly $5.7 million to $6 million and diluted EPS of $0.09 to $0.10. Plasma segment revenue grew 4% to $44 million despite sector-wide oversupply, while the drug affordability business contributed $34 million.
For 2026, Paysign projects total revenue of $114 million to $117 million, with adjusted EBITDA rising to $35 million to $38 million. Gross margin is expected to expand to 60%-62%, while adjusted EBITDA margin could reach 62%-63%. Net income is forecast at $21.5 million to $23 million, with diluted EPS projected at $0.35 to $0.37. Plasma revenue is anticipated to increase 24% to around $57 million, while drug affordability revenue is targeted at approximately $60 million.
The plasma segment, which operates 561 of roughly 1,200 U.S. donation centers, maintains a 45.5% market share and serves 8.4 million cardholders. Paysign retains about 2.6%-2.7% of the $60 donor payment as revenue through ATM, POS, interchange and inactivity fees. The drug affordability unit, which works with nine of the top 20 pharmaceutical companies, added 51 programs in 2025 and expects to add 50 to 60 new programs in 2026. Revenue in the segment grew more than 85% in the first half of 2026, with Q1 and Q2 figures rising to $15.7 million and $14.6 million, respectively.
Paysign also highlighted fraud prevention capabilities, citing $325 million in client savings in 2025 and over $300 million identified in 2026 to date, with projected annual savings exceeding $500 million. The company charges $2.50 for pharmacy claim processing and $30 for medical benefit claim payments via check issuance. CFO Jeff Baker noted that incremental revenue in the second quarter contributed 50% directly to operating profit, emphasizing operating leverage and transparent pricing.
The company carries no bank debt and holds over $30 million in free cash, with insider ownership at approximately 59%, including just over 15% held by founder and CEO Mark Newcomer.
