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Mr D, I dk about yours, but my break even is $2.99.
I won't be a happy camper till it gets there.
no short squeeze, needed earnings.
Mr D, as always, hurry up & wait.
PaySign, Inc. (NASDAQ:PAYS) Q2 2023 Results Conference Call August 9, 2023 5:00 PM ET
Company Participants
Mark Newcomer - CEO
Jeff Baker - CFO
Matt Turner - President, Patient Affordability
Conference Call Participants
Gary Prestopino - Barrington Research
Jon Hickman - Ladenburg
Operator
Good afternoon. My name is Kevin, and I’ll be your conference operator today. At this time, I’d like to welcome everyone to the PaySign, Inc. Second Quarter 2023 Earnings Conference Call. [Operator Instructions]
As a reminder, this conference call is being recorded. The comments on today’s call regarding PaySign’s financial results will be on a GAAP basis, unless otherwise noted. PaySign’s earnings release was disseminated to the SEC earlier today and can be found on the Investor Relations section of our website, paysign.com, which includes reconciliations of non-GAAP measures to GAAP reported amounts. Additionally, as set forth in more detail in our earnings release, I would like to remind everyone that today’s call will include forward-looking statements regarding PaySign’s future performance. Actual performance could differ materially from these forward-looking statements. Information about the factors that could affect our future performance is summarized at the end of PaySign’s earnings release and in our recent SEC filings. Lastly, a replay of this call will be available until November 8, 2023. Please see PaySign’s earnings release for details on how to access the replay.
It’s now my pleasure to turn the call over to Mr. Mark Newcomer, CEO. Please go ahead, Mark.
Mark Newcomer
Thank you, Kevin. Good afternoon, everyone. Thank you for joining our second quarter 2023 earnings call. I’m Mark Newcomer, Chief Executive Officer, and I’m pleased to share our quarterly results with you. I will briefly discuss our performance and provide updates on our plasma and patient affordability verticals before handing it over to our CFO, Jeff Baker, for further details. Additionally, Matt Turner, President of Patient Affordability, will be joining us for the question-and-answer session.
We experienced solid revenue growth this quarter, up 28% from last year’s second quarter, reaching $11 million as we continue to add new programs throughout our business segments. Our load volumes increased 8%, and our spend volumes increased 11%, compared to the second quarter of last year. We’ve witnessed healthy growth in our plasma compensation business, which has rebounded from the normal seasonal downturn mostly associated with Q1 tax refunds. During the second quarter, we onboarded 6 new centers while 2 centers were closed, leaving us with a total of 443 centers by the end of the quarter.
The average monthly revenue per center increased 13% compared to Q2 of last year. As donors keep returning post-pandemic, our growth remains steady. We were awarded 16 additional mature centers from an existing client, and they went live in mid-July, bringing our total center count to 461 centers. During the quarter, we concluded contract negotiations following our RFP win with one of the 4 largest plasma collection companies. We expect to onboard the initial center in Q4 with more centers to follow in 2024.
Given our progress and our clients’ expansion plans, we’re expecting to hit the high end of our forecast to open 45 to 55 additional centers in 2023. Today, I’d like to delve deeper into our Patient Affordability segment, highlighting our excitement and the potential of this business vertical. In 2019, we reentered this space with the goal of expanding our offerings. We invested in a dedicated team, both the business and IT side, aiming to develop industry-leading solutions that prioritize customer experience and pricing transparency. With the total addressable market, which we believe dwarfs the plasma industry, we invested heavily into the infrastructure necessary to successfully introduce and deliver these solutions. As pharma companies recognize the value, cost savings and disruption our solutions could bring, our traction in the market has grown.
Much like our approach to plasma, we first surveyed and understood the market, identified pain points and developed targeted solutions. Initially, our offerings were met with skepticism due to our status as a new entrant in the space. We heard a lot of "You’re a small company and untested. But you have an interesting solution. Here’s a tiny piece. Let’s see if you can do something."
And just like our plasma business, we proved our capabilities and began to take business from established competitors. Our Patient Affordability segment is showing growth reminiscent of our plasma segment. We’ve launched 5 new patient affordability programs in the second quarter, bringing our total to 31 active programs, an increase of 107% compared to Q2 2022. Moreover, our revenue from patient affordability saw 133% increase in the same period. Of the 31 current programs, 13 are mature programs transitioned from established vendors, 9 of which went live this year. We believe we will continue to win contracts for both new launches and mature programs as our pipeline is extremely robust.
We anticipate our program count to approach 40 to 50 programs by the end of the year. Claim volume has increased month-over-month for the first 2 quarters compared to last year, a more than 85% increase. That increase represents the mature programs onboarding and their established claim volumes. To shed more light on our pharma clientele, 18 of the top 20 U.S. pharmaceutical companies by 2022 revenue, as published by Fierce Pharma, could benefit from our solutions. Of those, we currently have programs running with 3, just executed an additional agreement with another, and we’re in active collaboration or negotiation with an additional 5.
We have seen significant growth in our Patient Affordability revenue, more than doubling and project further strong growth starting in Q4 and throughout 2024. Many of the programs we’re preparing for launch are mature, which will contribute to immediate claim volumes. By the end of this year, we anticipate more than doubling our claim volume from January. I want to reiterate, we are unseating vendors with 20 years in this space, with long-lasting relationships with many of these clients. The journey to this point has been challenging, but our success is evident and growing. I hope these insights convey our enthusiasm about the Patient Affordability segment.
2023 marks the continuation of what has been and should continue to be an accelerated growth phase for this division. Given the current state of our pipeline, we’re optimistic our shareholders will share our excitement. It’s worth pausing to consider the human impact of our work. We’re part of a mission that provides extended life possibilities to cancer patients and offers financial access to critical therapies for patients with rare diseases. Each patient reenrollment signifies that our efforts may have helped extend their lives. We are proud to support these patients and look forward to helping many more. With that, I’ll turn it over to Jeff.
Jeff Baker
Thank you, Mark. Good afternoon, everyone. Our plasma business continues to be the foundation for our business, providing us the opportunity to invest and diversify our business into other attractive vertical markets such as our fast-growing pharma Patient Affordability channel, as Mark just elaborated. Since beginning this journey in 2019 and exiting 2020 with 4 programs and revenues of $168,000, we are beginning to see the fruit of this investment pay off with patient affordability revenues expected to more than double to over $3.5 million in 2023.
For the second quarter, patient affordability revenues increased 133% to $729,000 versus $313,000 during the same period last year. Our plasma business continues its growth, exiting the quarter with 443 centers versus 437 centers during the same period last year. Our average revenue per plasma center, per month, also grew to $7,587 versus $6,716, a year-over-year increase of 13%. As Mark mentioned, since the end of the quarter, we transitioned 16 mature centers in mid-July and added 2 additional de novo centers during the month, bringing the total number of centers to 461 at the end of July. Our expectation is to exit this year with approximately 480 centers, which includes the centers that have been added and the ones that have been sold or closed during the year.
For the second quarter, plasma revenues increased $2.2 million or 28.3% over the same period last year. As in previous calls, with all the details we provided in the press release and that will be available in our 10-Q filing tomorrow morning, I will simply hit the financial highlights for the second quarter of 2023 versus the same period last year. Second quarter 2023 total revenues of $11 million increased $2.4 million or 28.4%. Gross profit margin for the quarter was 50.9% versus 54.6% during the same period last year, due mainly to inflationary pressures present this year that were not present last year and the lack of pharma prepaid revenue this year, which was a 1.9% drag.
SG&A for the quarter increased 24.6% to $5.3 million, with total operating expenses increasing 26% to $6.3 million. In addition to inflationary wage pressures across the company, as Mark mentioned, we have made significant investments in IT and employees over the past year to support the continued growth of our business, exiting this quarter with 108 employees versus 90 during the same period last year. For the quarter, we posted a net loss of $104,000 versus a net loss of $228,000. Earnings per share for both periods were just under breakeven.
The second quarter adjusted EBITDA, which is a non-GAAP measure that adds back stock compensation to EBITDA was $1.1 million or $0.02 per diluted share versus $930,000, also $0.02 per diluted share for the same period last year. The fully diluted share count for the quarter is used in calculating the per share amounts was 54.5 million and 52.4 million, respectively. Regarding the health of our company, we exited the quarter with $7.7 million in unrestricted cash and 0 debt, a $1.3 million increase over the first quarter and a $2 million decrease from the year-end 2022.
Year-to-date, we have used just under $1 million to repurchase 319,558 shares of our common stock. We are expecting continued growth in our plasma and pharma patient affordability business and are on track to meet our revenue and adjusted EBITDA guidance we provided in March, principally revenue to be in the range of $44 million to $46 million and adjusted EBITDA to be in the range of $6 million to $7.5 million.
With that, I would like to turn the call back over to Kevin for questions and answers.
Question-and-Answer Session
Operator
[Operator Instructions] Our first question today is coming from Gary Prestopino from Barrington Research.
Gary Prestopino
Jeff, I know this will be in the Q. I’m just wondering, do you have the load values and the spend values handy?
Jeff Baker
Yes. Just give me one, 2 seconds. So our total load value -- total number of loads was 6 million and total dollar value loaded was $404.7 million.
Gary Prestopino
Okay. All right. That’s great. And then could you help us out here with the differential of gross margin dollars versus plasma versus Patient Affordability I mean how much more of an uplift on gross margin dollars per dollar of sales do you get on Patient Affordability versus plasma?
Jeff Baker
So our patient affordability margins are running in the 80-ish percent range. The gross -- the plasma gross margins are in the upper 40s to low 50% range. There’s more third-party costs associated with the pharma side -- I mean with the plasma side versus the pharma side.
Gary Prestopino
Okay. So obviously, then, as you grow this Patient Affordability, it’s going to be a very positive impact to your margins.
Jeff Baker
It will to the gross margins. What I will caution you with is that the -- it’s not the fully loaded margins in the business where if you look at IT, also individuals. It’s more of an in-house solution versus a third party -- using more third-party vendors. So there’s more costs associated, they’re just below the line.
Gary Prestopino
Okay. That’s good to know. And then did I hear you right, Mark, that you said the claims volumes were up 85% on these patient affordability programs in the quarter, is that correct? Or is that from the -- what is that measurement from?
Mark Newcomer
Yes, that’s correct. It was for the first half.
Gary Prestopino
First half of this year, okay.
Operator
[Operator Instructions] Our next question is coming from Jon Hickman from Ladenburg.
Jon Hickman
I’m sorry, I didn’t quite catch. You made a comment about -- I think that was Mark speaking, about a new plasma customer that you got on center in this quarter and you expect more at the end of the year, so you can reach your 480 center goal. Can you reiterate what you said about that new customer?
Mark Newcomer
Yes. The -- what I was talking about was it was one of the RFP wins we had with 1 of the top 4 plasma companies in the country. We spoke about it in previous quarters. We finally...
Jon Hickman
Didn’t it come in last quarter?
Mark Newcomer
It did. It came in towards the end of last year, that’s correct. So it’s obviously been -- it’s moved fairly slow. We now have our first center going live in Q4. And then subsequent centers will launch in 2024.
Jon Hickman
Okay. Can you tell us anything more about what’s going on at the border? I know those were reopened for you. How’s traffic?
Jeff Baker
Yes, Jon, I mean there -- believe it or not traffic is finally starting to come back. It’s kind of inching up every month, but it’s still not back to where it was pre-COVID. But we are definitely seeing more Mexican nationals donating than they have been. It’s about -- just about 50-50 between Mexican nationals and U.S. citizens that are donating there. .
Operator
Next question is a follow-up from Gary Prestopino from Barrington Research.
Gary Prestopino
Yes. You talked about the -- you won this large RFP and you’re going to be getting at least 1 center on by the end of this year. Is that correct?
Mark Newcomer
That’s correct.
Gary Prestopino
Can you give us some idea of the magnitude of how many centers came -- will be activated in 2024 due to winning this RFP?
Mark Newcomer
So the RFP, I mean, not really. I can’t -- I mean it’s 1 of the 4 largest plasma company. So as you can imagine, they have hundreds of centers. Really, we’re putting up our offering and they will dictate which centers they will push over to us. So it’s hard for me to give you an accurate count at this point in time. We do expect subsequent centers falling in 2024. I think at that point, we’ll be able to probably give a little better guidance on that.
Gary Prestopino
That will be very helpful. And then, Mark, you talked in your narrative about your initial forays into Patient Affordability. Clients looked at you and said, "Hey, you’re a small company, but we’ll give you a little piece of it." And it’s starting to really gain some traction. Could you maybe go into what you are doing that is allowing or enabling you to gain this traction in market share maybe versus the competition?
Matt Turner
Yes. So this is Matt Turner. I think we’ve started developing solutions to some industry problems such as the accumulator maximizer problems and that’s really kind of a deep rabbit hole to get into on this call. But it represents -- the accumulator maximizer programs represent a risk to our clients financially because it could cause their co-pay programs to just cost way too much money. And so we’ve developed some incredibly successful targeted solutions to address that. And I think there’s a good part of what we’re doing that’s just really focusing on kind of a white glove client experience, right?
A lot of the competitors in the market space walked away from that. They over-commoditized, I guess, is the best way you could put it. And so we’re focusing more on the expertise that it takes to do the job and bringing new solutions to the table, combining that with a really solid client experience.
Gary Prestopino
Is there anything on the technology basis that you have that’s a competitive advantage in this market that can’t be duplicated by a competitor?
Matt Turner
Yes. So I mean, there’s a lot of technology involved in what we do, right? I mean it’s kind of a -- it’s a complex ecosystem. As far as somebody else never being able to duplicate it, I don’t know that, that’s necessarily the case, but we -- it took us a while to kind of get the solution up and running.
And I don’t think we’re going to see anybody successfully imitate us for some time. They’ve had years to jump on top of this and they failed, so. And in 24 months, we’ve launched a new solution and have begun selling it now to top 5 pharma companies. So I don’t -- I’m not overly concerned that they’re going to be able to imitate us anytime soon.
Gary Prestopino
How big is your sales force right now for this market? I mean if it’s bigger than the plasma market, are you going to be putting more resources into this market and getting sales strength?
Matt Turner
Yes. So last call, we talked about Bryan Dennison, who was brought on, I think, right in February as Senior VP for Sales for us. And then he has 2 folks that are kind of the bulk of the sales force, and they have a support person there with them. We’ll continue to evaluate the need for additional salespeople. Right now, the 2 that we have are doing an amazing job in keeping everybody here very, very busy. So -- and when we hired -- we’ve hired top talent on the sales side.
This is -- we haven’t gone in and looked at trying to have entry-level people and training them and becoming a salesperson. These are industry veterans that have a lot of connections and a very thick Rolodexes. So they’re incredibly successful in what they’re doing now. And maybe towards the start of next year, we’d evaluate adding more salespeople. But I think right now, we’re rightsized in the sales staff.
Jeff Baker
The bigger -- Gary, the bigger employee or cost is kind of going to come into client management support on the salespeople and dedicated support. I mean these pharmaceutical companies were signing up, like Matt mentioned, they lack the white glove service from their old provider. We’re giving them the white glove service. We can do that cost effectively, but we are going to have to -- we continue to bring in these customers which we are, we’re going to have to continue to add at that level. So it’s not the senior level but definitely the client support side level.
Mark Newcomer
And then I also think it’s important to say that we still have our hub strategy. And that hub strategy allows us to kind of play off some of our hub partnerships that are bringing a lot of business to the table for us. So I think that’s, no.
Gary Prestopino
Okay. And then just one last question, more of a modeling question. This business here is taking the place of another business that you had. I forget what that was called. But when were all of those revenues out of the equation on a comparable quarterly basis? Is it starting in Q3? Or is it more Q4?
Jeff Baker
No. So that was -- you’re referring to our prepaid business. So the last prepaid revenues -- yes, the last prepaid revenues in pharma were in Q4 of last year. So starting in Q1 of 2024, you’ll have an apples-to-apples. But I will point to our investor presentation on our website. We have split out the revenues from the prepaid business and our Patient Affordability business. So you can see a true apples-to-apples comparison.
Operator
Yes. We reached the end of our question-and-answer session. I’d like to turn the floor back over to management for any further or closing comments.
Mark Newcomer
Thanks, Kevin. Thank you all for joining us today, and we look forward to updating you on our continued progress in the next earnings call. You all have a wonderful day.
Paysign, Inc. Reports Second Quarter 2023 Financial Results
4:06 PM ET 8/8/23 | Dow Jones
Related Quotes
4:00 PM ET 8/8/23
Symbol Last % Chg
PAYS
1.85 -1.07%
Real time quote.
-- Second quarter total revenues of $11.0 million, an increase of 28%
compared to second quarter 2022
-- Second quarter net loss of ($0.1) million and diluted loss per share of
($0.00)
-- Second quarter Adjusted EBITDA of $1.1 million, an increase of 23%
compared to second quarter 2022, and diluted Adjusted EBITDA per share of
$0.02, unchanged from second quarter 2022 (Adjusted EBITDA and Adjusted
EBITDA per share are non-GAAP metrics used by management to gauge the
operating performance of the business - see reconciliation of net loss to
Adjusted EBITDA at the end of the press release)
-- Added four net new plasma donation centers during the second quarter,
exiting the quarter with 443 centers
-- Launched five new patient affordability programs during the second
quarter, exiting the quarter with 31 active programs, leading to a 133%
increase in pharma patient affordability revenue
-- Second quarter gross dollar load volume up 7.9% and gross spend volume up
11.1% compared to second quarter 2022
-- Repurchased 119,558 shares of common stock for $312 thousand, bringing
year-to-date share repurchases to 319,558
HENDERSON, NV / ACCESSWIRE / August 8, 2023 / Paysign, Inc. (NASDAQ:PAYS), a leading provider of prepaid card programs, comprehensive patient affordability offerings, digital banking services and integrated payment processing, today announced financial results for the second quarter 2023 ended June 30, 2023.
"We delivered strong revenue growth this quarter, a year-over-year increase of 28%, supported by the continued positive momentum in our plasma, patient affordability, and other areas of our business," said CEO Mark Newcomer. "Our plasma business continues to provide a strong foundation of our revenue stream model as plasma donors continue to return to centers, approaching pre-pandemic levels. Additionally, we are especially pleased with the growth in both the pipeline and revenue exhibited by our patient affordability business. Prior to the launch of our patient affordability business, we had two types of pharma programs - pharma prepaid and pharma copay. With our pharma prepaid programs ending in 2022, our pharma copay programs will now be included as part of our patient affordability business which better reflects the comprehensive products and services we offer pharmaceutical companies. At Paysign, we remain dedicated to leveraging innovative fintech solutions in healthcare and beyond, allowing us to outperform larger competitors and ensure sustainable growth and long-term value for our shareholders."
Quarterly Results
The following additional details are provided to aid in understanding Paysign's second quarter 2023 results versus the year-ago period:
-- Total revenues increased 28%, or $2.4 million. The increase was
attributable to the following factors:
-- Plasma revenue increased $2.2 million, or 28%, primarily due to an
increase in plasma locations, plasma donations and dollars loaded
to cards with average monthly revenue per center up 13% to $7,587.
-- Pharma revenue decreased $44 thousand, or down 6%, primarily due
to pharma prepaid contracts ending in mid-November 2022, offset by
the growth and launch of new pharma patient affordability
programs. Pharma patient affordability revenue increased $416
thousand, or 133%, to $729 thousand.
-- Other revenue increased by $278 thousand, or 1444%, primarily due
to the launch of a new payroll program in the second half of 2022
and other new prepaid disbursement programs.
-- Cost of revenues increased 39%, or $1.5 million. Cost of revenues is
comprised of transaction processing fees, data connectivity, data center
expenses, network fees, bank fees, card production costs, postage costs,
customer service, program management, application integration setup and
sales and commission expense. The year-over-year increase in cost of
revenues was primarily due to an increase in cardholder usage activity
and associated network expenses such as interchange and ATM costs, an
increase in plastics and collateral related to an increase in the number
of unique card loads, an increase in network expenses and sales
commissions related to the growth in our pharma patient affordability
business, a new direct network connection with Mastercard and an increase
in customer service expenses associated with wage inflation pressures and
the overall growth in our business, offset by a decline in postage.
-- Gross profit increased by $918 thousand, or 20%, primarily due to
increased plasma and pharma patient affordability revenue, offset by a
decline in pharma prepaid revenue. Our gross profit margin decreased to
50.9% versus 54.6% for the same period in the prior year primarily due to
the decline in our pharma prepaid business, increased third-party
transaction processing and network costs, a new direct network connection
with Mastercard and increased customer service costs.
-- Selling, general and administrative expenses increased by $1.1 million,
or 25%, and consisted primarily of increases in (i) compensation and
benefits of approximately $690 thousand due to continued hiring to
support the company's growth, a tight labor market and increased employee
benefit costs, (ii) non-IT outside professional services of approximately
$235 thousand, and (iii) stock-based compensation of approximately $340
thousand. This was offset by a $210 thousand increase in the amount of
capitalized software development costs and a decrease in all other
operating expenses of $8 thousand. We exited the quarter with 108
employees versus 90 employees during the same period last year.
-- Depreciation and amortization increased by $245 thousand, or 34%, due to
the continued capitalization of new software development costs and
equipment purchases related to the enhancement to our processing
platform.
-- Other income increased by $531 thousand primarily related to an increase
in interest income resulting from higher cash balances and rising
interest rates.
-- We recorded an income tax provision of $58 thousand due to the full
valuation on our deferred tax asset in both the current and prior period
and the tax benefit related to our stock-based compensation and pretax
loss in the prior year periods.
-- Net loss of $104 thousand, or ($0.00) per diluted share, improved by $124
thousand compared to net loss of $228 thousand, or ($0.00) per diluted
share, during the same period last year as well as a sequential
improvement from the first quarter of 2023. The overall change in net
income relates to the factors mentioned above.
-- "EBITDA," defined as earnings before interest, taxes, depreciation and
amortization expense, which is a non-GAAP metric, decreased by $131
thousand, or down 30%, to $311 thousand due to the factors mentioned
above, but was up sequentially from $102 thousand in the first quarter of
this year.
-- "Adjusted EBITDA," which reflects the adjustment to EBITDA to exclude
stock-based compensation charges, and which is a non-GAAP metric used by
management to gauge the operating performance of the business, increased
by $211 thousand, or 23%, to $1.1 million, or $0.02 per diluted share,
due to the factors mentioned above, and was up $400 thousand sequentially
from the first quarter of this year.
Second Quarter 2023 Milestones
-- Exited the quarter with approximately 5.9 million cardholders and 598
card programs.
-- Year-over-year revenue increased 28%.
-- Added four new plasma donation centers, ending the quarter with 443
centers.
-- Launched five new pharma patient affordability programs, ending the
quarter with 31 active programs.
-- Repurchased 119,558 shares at a cost of $311,649.
Balance Sheet at June 30, 2023
Unrestricted cash decreased $2.0 million to $7.7 million from December 31, 2022, due primarily to our net loss and increases in accounts receivable of $3.0 million, capitalized software development of $1.4 million, prepaid expenses of $0.6 million and the repurchase of 319,558 shares of our common stock for $1.0 million. This was primarily offset by increases of $2.6 million in accounts payable. The large increases in accounts receivable and accounts payable are primarily due to the growth of our pharma patient affordability programs and the launch of new pharma patient affordability programs whereby Paysign invoices its customers at the end of the quarter for reimbursement to pharmacy networks, pharmacies or individuals for their out-of-pocket costs and remits those funds to cover the related accounts payable liability outstanding at the end of the quarter. Restricted cash of $78.4 million are funds used for customer card funding with a corresponding offset under current liabilities. This balance decreased $1.8 million from December 31, 2022 predominately due to declines in plasma deposits where customers managed their quarter-ending cash balances and the termination of our pharma prepaid programs where we returned program funds of over $8.0 million. This was offset by increases in funds on cards and new pharma patient affordability programs which brought in $6.9 million in new account balances. Our adjusted current ratio, which is a non-GAAP measure that excludes restricted cash balances from assets and liabilities, was 1.74x.
2023 Update
2023-08-08 20:06:00 GMT Paysign, Inc. Reports Second Quarter 2023 -2- "We saw solid revenue and Adjusted EBITDA growth year over year, despite the impact of inflationary pressures this quarter that did not have a similar impact during the same period last year. We are expecting continued growth in our plasma and pharma patient affordability businesses and are on track to meet our revenue and Adjusted EBITDA guidance we provided in March, principally revenue to be in the range of $44.0 million to $46.0 million and Adjusted EBITDA to be in the range of $6.0 million to $7.5 million. Our financial results and cash balances should continue to improve sequentially, excluding the effects of possible share repurchases under our $5 million share repurchase program. Additionally, it is important to note that while we added four new plasma centers in the second quarter, we transitioned an additional 16 mature plasma centers from a single client in July, bringing the current number of plasma centers to over 460," said Paysign CFO Jeff Baker.
Second Quarter 2023 Financial Results Conference Call Details
The company will hold a conference call at 5:00 p.m. Eastern time today to discuss its second quarter 2023 financial results. The conference call may include forward-looking statements. The dial-in information for this call is 877.407.2988 (within the U.S.) and 201.389.0923 (outside the U.S.). A call replay will be available until November 8, 2023, and can be accessed by dialing 877.660.6853 (within the U.S.) and 201.612.7415 (outside the U.S.), using passcode 13739798.
Forward-Looking Statements
8 minutes to earnings and this shows up:
Bid x Size
$1.85 x 300
Ask x Size
$1.86 x 7,800
That's a potential death wish if shortie.
looks like sellers dried up:
Volume
14,918
Average Volume (10 days)
156,716
E DAY, GLTA
Else Nutrition to Report Second Quarter 2023 Financial Results on August 14, 2023
8:00 AM ET 8/8/23 | GlobeNewswire
Else Nutrition to Report Second Quarter 2023 Financial Results on August 14, 2023
A conference call is to be conducted on August 14, 2023, at 10 a.m. ET
VANCOUVER, British Columbia, Aug. 08, 2023 (GLOBE NEWSWIRE) -- ELSE NUTRITION HOLDINGS INC (BABY) (BABYF) (0YL.F) ("Else" or the "Company") the Plant-Based baby, toddler and children nutrition company, announced today that it expects to report second-quarter 2023 financial results for the period ending June 30, 2023 on August 14, 2023. The Company has scheduled a conference call on the same day, at 10:00 a.m. ET, to discuss the results.
Interested parties can access the conference call via Internet webcast, which is available in the Investors section of the Company's website at https://elsenutrition.com/pages/investor-relations or at https://app.webinar.net/nlg7JVlWQPG.
Interested parties who would like to submit a question to be addressed on the call should email the question to shamsian@lythampartners.com.
A webcast replay will be available in the Investors section of the Company's website at https://elsenutrition.com/pages/investor-relations or via https://app.webinar.net/nlg7JVlWQPG.
aggressive sellers seem to be running out steam, but still around.
$1.895-0.005 (-0.26%)
Bid x Size
$1.89 x 500
Ask x Size
$1.90 x 10,100
jp, I'm wondering about the total #, and the % of outstanding shares.
This is what ET shows, but I don't believe it is current:
Number of Floating Shares 32.1 M
Short Interest as % of Float 2.76%
jp, please see if a up to date short interest is available.
TY
Only ebrie & I do options. My posts re option trades are just to share ideas
jp, As of now, March 24 is the farthest out. Before that is Dec 23 offered @ .10.
Tremendous leverage/ low cost. I now have the equivalent of 30K shares locked up till march 15.
30K at current pps would cost $57K which I don't have available.
WOW, all of us.
shortie might now be aware he might have teat in a wringer come Wendsday AM. First up day in about 2 weeks.
Volume
208,710
Average Volume (10 days)
145,553
I just grabbed 10k @ .50
shortie backing off.
bidding .15 for another 100 March 2.50 calls.
YES, copied and pasted what ET shows.
There is an "insider activity" button
I just sacrificed 800 shares @ $1.8407
used the cash to buy 100 march $2.50 calls for .15.
Leverage: 800 shares vs 10,000 shares
Best offer on March calls now .25
I own most of the open interest.
Time Premiuminfo_
0.20
THIS PISSES ME OFF!!!!!!!!!!!!!!!!!!!!!!!!!!!!
3/27/23 Spence Daniel H
Beneficial Owner of more ... Sale 200,000 3.33 – 3.33 9,190,000 $666.0 K
Remember the first buyback announcement?
"OH, chilar you can sell yours now @ 1.80"
A difference of $153,000.
"Thanks guys, here's my 100k."
Only $153,000 less, a piece of cake.
Uppa yo azz!
jp, good purchases, sure eventual substantial profits.
Hope all shares sold by shortie and we'll soon have 'em
by the short hairs.
Sellers still active, vol today 250k
Have up to date short #?
WOW, They sell to get $ to pay (in part) for the options exercised.
I have some powder, but forced myself not to buy more shares.
Am buying March 2.50 calls @ .15. IMO very cheap leveraged shot.
Much to gain, small amount to pizz away.
MR D, for example.
They exercise options 100,000 options @ 1.00
They sell 50,000 @ 2.00
50,000 free shares
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! NEWS !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Else Prepares to Enter The $52B Global Kids Nutrition Market with Ready-To-Drink Kids Nutritional Shakes
8:00 AM ET 8/3/23 | GlobeNewswire
Else Prepares to Enter The $52B Global Kids Nutrition Market with Ready-To-Drink Kids Nutritional Shakes
Else Nutrition to Unveil Highly Anticipated Ready-To-Drink Kids Nutritional Shakes at Expo East 2023 in Philadelphia September 21 to 23
VANCOUVER, British Columbia, Aug. 03, 2023 (GLOBE NEWSWIRE) -- ELSE NUTRITION HOLDINGS INC. (BABY) (BABYF) (0YL.F) ("Else" or the "Company"), announces it will introduce its first-ever Ready-To-Drink (RTD) products in the form of Kids Nutritional Shakes in Vanilla and Chocolate flavors. These will be unveiled at the upcoming Natural Products Expo East in September 2023 at booth 2238. This debut marks the company's significant expansion from its successful powdered product range into the larger, fast-growing RTD market.
Leveraging the impressive performance of their powdered nutritional drinks and protein shakes for kids, which emerged as the fastest-growing products in the "Infant Formula & Toddler Nutrition Drink" category in the natural channel in 2022, Else Nutrition is now taking a significant step into the larger RTD market, capitalizing on their acclaimed quality and plant-powered nutrition.
The Kids Nutrition market revenues were estimated at US$52 Billion in 2022 and are anticipated to grow at a CAGR of 5.5% from 2023 to 2033, according to a recently published Persistence Market Research report. By the end of 2033, the market is expected to reach a valuation of US$94.5 billion. North America accounts for 31.6% of the kid's nutrition Ready to Drink global market.
Particularly throughout the early, formative years of life, children require nutrient-rich diets for healthy growth and development. Long-term selective eating in children can prevent them from receiving a complete and balanced diet, which can cause major health problems such as immunological deficiencies, malnutrition, decreased muscle mass, deteriorated bone health, and stunting which can have long-term effects from bad health outcomes.
Today's parents are worried about their children's eating habits, especially working parents. Globally, there is a rapid increase in the number of working moms. This may result in an unbalanced diet for their child. They may not get an adequate amount of nutrients. This is a serious issue that many parents are facing.
To overcome this and to ensure that their child is availed of all the nutrients, parents prefer nutritious products present on the market.
"This is an exciting moment for Else Nutrition. Breaking into the larger RTD market signifies a substantial growth opportunity, building upon the success of our powdered products," says Hamutal Yitzhak, CEO and Co-Founder of Else Nutrition. "We welcome all retailers and interested parties to join us at Expo East, as we continue to revolutionize children's nutrition."
Like their powdered counterparts, these new RTD Kids Nutritional Shakes are Clean Label Project Purity certified, free from chemicals of concern, as well as industrial and environmental toxins, including heavy metals. They're free of gluten, dairy, soy, corn syrup, and GMOs, packed with protein, healthy carbs, healthy fats, and over 20 essential nutrients. Notably, they contain significantly less sugar than leading brands, illustrating Else Nutrition's commitment to clean, minimally processed nutrition.
After their unveiling at Natural Products Expo East (booth #2238 from September 21 to 23), the shakes will be available across the US. Notably, Else Nutrition Kids Shakes powdered products have been approved for US federal insurance billing, making them more accessible to families nationwide.
To learn more about Else Nutrition and its range of products, visit www.elsenutrition.com
Additionally, the Company announces that it has extended the vesting deadline for an aggregate of 31,801,492 performance warrants (the "Performance Warrants") by two years to June 12, 2027.
The Performance Warrants were issued to certain key members of management of the Company in connection with the completion of the Company's qualifying transaction on June 12, 2019. Each Performance Warrant entitles the holder to receive one common share of the Company, with vesting of the Performance Warrants occurring in stages upon achieving certain business milestones. The vesting deadline for the Performance Warrants was previously extended to June 12, 2025, in 2021 due to industry delays resulting from COVID-19. As amended, all Performance Warrants that have not been vested by June 12, 2027, will expire.
The extension of the Performance Warrants was approved by shareholder vote, excluding the votes of the holders of the Performance Warrants, at the Company's shareholder meeting held on June 29, 2023. A description of the business milestones is provided in the meeting materials sent to shareholders and is available on SEDAR. The Company has also received conditional approval of the Toronto Stock Exchange to the extension of the vesting deadline of the Performance Warrants.
The amendment of Performance Warrants constitutes a "related party transaction" as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions ("MI 61-101"). The amendment is exempt from the valuation requirement under section 5.5(a) of MI 61-101 as the amendment represents less than 25% of the market capitalization of the Company.
Maybe it's about time for mgmt to take notice and reassure shareholders everything is OK.
They're even smashing pps after hours:
PAYS
PAYSIGN INC COM
$1.80-0.08 (-4.26%)
Bid x Size
$1.76 x 100
Ask x Size
$1.79 x 1,300
Real Time Equity Quote: Aug 2, 2023, 4:00 PM ETinfo_outline
Keeping my word. Not buying even 1 share.
The only positive thing today is the fact there is buying, even tho @ lower pps.
Volume
184,597
Average Volume (10 days)
115,338
jp, I believe officers are prohibited (at this time) because Q is pending.
If they acquired shares now and great Q is reported, shyte will
hit the fan for sure. They 'll be suing for insider trading.
"Service on stocktwits just now has 2024 price at over $4 for PAYS"
That's why I'm accumulating March 2.50 calls.
jp, still looking for bottom. Another new low today.
This not helping: DOW 35,375.8 ? loss-254.88 -0.72%
NASDAQ 14,016.68 ? loss-267.24 -1.87%
chunk for sale:
$1.85-0.03 (-1.60%)
Bid x Size
$1.83 x 600
Ask x Size
$1.85 x 7,800
Real Time Equity Quote: Aug 2, 2023, 10:53 AM ETinfo_outline
QOTD= question of the day: have we bottomed yet????????????????????
ANSWER= maybe.
GLTA
Volume today double +, Shorts setting up to be squeezed?????
Volume
244,419
Average Volume (10 days)
104,928
WOW, If business really reflects current pps, mgmt would NOT be presenting at these type events. Makes me wonder if short squeeze potential exists..........
Guess we'll know at close 1 week from today.
Keeping tight sphincter till then. Starvation diet to keep from regurgitating. Sitting on hands, waiting for big white candle.
Requesting survival tips till 8/8. LOL
GLTA
Slapped my hand very hard when close to buy button.
50 day MA 2.43 .
7 down days in row down since I began listing.
Will consider buying when first +tic on 50 day MA.
Am, however picking up March 2.50 calls.
Very cheap shot. Now own most open interest @ .20 centavos.
GLTA
ps. Shorties must be telling each other PAYS is going belly up,
otherwise, why be still shorting at this pps level.
Does someone know something nobody else does?
The Shadow know!
WOW, question of the day, what tutes lightened up or closed out?
Sellers still here this AM, lad to see a bid:
EXTENDED HOURS
$1.97+0.05 (+2.60%)
Bid x Size
$1.91 x 5,000
Ask x Size
$1.96 x 500
Before hours: Aug 1, 2023, 9:05 AM ET
Sellers still here this AM, lad to see a bid:
EXTENDED HOURS
$1.97+0.05 (+2.60%)
Bid x Size
$1.91 x 5,000
Ask x Size
$1.96 x 500
Before hours: Aug 1, 2023, 9:05 AM ET
Today I bought my last share of PAYS. However I continue to play options.
March 2.50 calls should be gold by then.
If not, not too much $ down the drain.
Lets hope this holds:
Bid x Size
$1.92 x 7,500
Ask x Size
$1.93 x 500
Real Time Equity Quote: Jul 31, 2023,