Paysign Inc. (NASDAQ: PAYS) raised its full-year 2026 revenue guidance to between $114 million and $117 million during a presentation at the 17th Annual Midwest IDEAS Conference on August 27, 2026, up from prior expectations. The company also projected adjusted EBITDA of $35 million to $38 million and gross margins of 60% to 62% for the year, reflecting continued operational leverage.
For 2025, Paysign reported revenue of $82 million, a 40.5% increase from $58.4 million in 2024, marking the fifth consecutive year of double-digit top-line growth. Adjusted EBITDA reached approximately $19.8 million to $20 million, up 107% year-over-year, while net income totaled roughly $5.7 million to $6 million, with diluted EPS of $0.09 to $0.10. Selling, general and administrative expenses grew 31.2%, remaining below sales growth.
The company highlighted its dominant position in U.S. plasma payments, holding a 45.5% market share with 561 facilities served out of approximately 1,200 nationwide. Paysign manages 8.4 million cardholders and generated $44 million in plasma revenue in 2025, a 4% increase despite industry oversupply. Plasma revenue guidance for 2026 stands at $57 million, up 24%. Donors receive the full $60 payment per donation, with Paysign earning revenue through ATM, point-of-sale, interchange and inactivity fees at a conversion rate of about 2.6% to 2.7%.
Paysign’s patient affordability business, which handles pharmaceutical co-pay programs, reported first-half 2026 revenue of more than $30 million, up over 85% year-over-year. Segment revenue reached $15.7 million in Q1 2026 and $14.6 million in Q2 2026, compared with $7.8 million and $7.9 million respectively in the prior-year periods. The company targets about $60 million in 2026 revenue for this segment, up from $34 million in 2025. Paysign now supports 157 active co-pay programs, up from 106 a year earlier, with an average revenue per program of just under $100,000 in Q2 2026.
The company’s fraud prevention technology, which identifies maximizer and accumulator transactions in real time, saved pharmaceutical customers more than $325 million in 2025 and over $300 million year-to-date in 2026, with expectations to exceed $500 million by year-end. Paysign serves nine of the top 20 pharmaceutical companies and six of the top 10, including AstraZeneca, which expanded from four programs in 2024 to over 15.
Paysign operates with zero bank debt and holds more than $30 million in unrestricted cash. Insider ownership stands at approximately 59%, with founder and CEO Mark Newcomer holding just over 15%. The company rebranded its acquired software platform to Apherian, featuring eight modules including Apherian Pay and Apherian Connect, with the BEX system pending FDA 510(k) approval.
