Paysign Inc (PAYS)

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Paysign, Inc. Reports Record First Quarter 2019 Revenues and Net Income
Jim McCroy [e-mail] via amazonses.com

3:01 PM (3 minutes ago)


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Paysign, Inc. Reports Record First Quarter 2019 Revenues and Net Income

First Quarter 2019 Revenue up 55.4%, Net Income up 111.3% and Adjusted EBITDA increased 121.5% compared to the same period in 2018.

HENDERSON, Nev.--(BUSINESS WIRE)-- Paysign, Inc. (NASDAQ: PAYS), a vertically integrated provider of innovative prepaid card programs and processing services for corporate, consumer and government applications, today reported financial results for the first quarter ended March 31, 2019.

Financial Highlights

Revenue for the first quarter ended March 31, 2019 was $7,257,290, an increase of 55.2% percent compared to $4,676,320 for the same period last year. The increase in revenue is attributable to continued growth with our existing programs, and the addition of new card programs.

Gross profit increased 68.3% to $3.8 million or 52.0% of revenues, compared to $2.2 million or 48.0% of revenue in first quarter 2018. Gross margin increased primarily driven by the addition of higher margin card programs.

Total operating expenses were $3.0 million compared to $2.9 million in the prior quarter, and to $1.8 million first quarter 2018. The increase compared to the same period the prior year is primarily attributable to increases in leadership and staffing, investments in infrastructure, and increased stock-based compensation.

Net Income was $871,671, an increase of 111.3% compared to $412,548 in the same period prior year. Basic and fully diluted earnings per share were $.02 versus $.01 the prior year.

Non-GAAP Adjusted EBITDA was $1,717,479, an increase of 121.5% compared to $775,387. Non-GAAP EPS was $.04 as compared to $.02 the prior year.

Our revenue conversion rate of gross dollar volume loaded on cards for the quarter was 3.79% or 379 bps compared to 3.68% or 368 bps the same period the prior year.

For the full press release please see the attached PDF.

Thank you and have a wonderful day.
Jim McCroy
Paysign, Inc.
Symbol: PAYS
Direct: 702-749-7269





Attachments Link(s) : Paysign Reports First Quarter 2019.pdf


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