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Paysign, Inc. (PAYS) stock

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NASDAQ: PAYS Nasdaq Transaction & Payment Processing Services Next results ~November 9, 2026

B Fundamentals grade

Paysign, Inc. is a US-listed company in the transaction & payment processing services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$32

Cash-flow model

Base case. Range ~$25–$41 across our lower- and higher-growth cases (8%–18% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 122% above it.

Price used: $14.40, November 2, 2026

Paysign, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 8 selling0 purchases and 21 sales by directors and officers, last 12 monthsInsider trades
  • Funds94 adding, 39 cuttingOf 30 active managers that changed their stake, 18 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Paysign files

Where Paysign stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $101m, up 46.8% on a year earlier, faster than the 43.4% growth a quarter earlier. That growth ranks 1 of 25 among the transaction & payment processing services companies we cover. Free-cash-flow margin rose to 73.0% from -12.6% a year earlier. Operating margin widened to 17.0% from 7.4%. The diluted share count is up 10.6% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 6 of our 6 financial-health checks. Our cash-flow model value is $27.55 a share, against a share price of $14.44.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 9, 2026 (estimated)

Paysign, Inc.'s trailing-twelve-month revenue grew 46.8% year on year, with a free-cash-flow margin of 73.0%. Where it stands out: revenue growth of 46.8% ranks 1 of 30 transaction & payment processing services companies we cover. Where it lags: days sales outstanding of 374 days ranks 18 of 18 transaction & payment processing services companies we cover.

Our discounted-cash-flow model values the business at ~$32 per share in the base case (~$25–$41 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free-cash-flow margin near historical high: TTM FCF margin of 73.0% is in the 89th percentile of its own history.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $14.40 is 122% below our value per share of $32.
  • Fast growth. Revenue grew 46.8% over the last 12 months, against a median of 9.7% for transaction & payment processing services companies we cover.
  • Growth speeding up. The growth rate is 3.5 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 9.6 points on a year ago.
  • Strong cash generation. 73.0% of revenue turned into free cash flow, against a median of 18.4% for transaction & payment processing services companies we cover.

Things to watch

  • Results due soon. Results are expected around 11 November; the share price can move sharply on the day.
  • Share dilution. Diluted shares rose 10.6% in a year.
  • High earnings multiple. The shares trade at 57 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 69% and a beta of 0.8 against the S&P 500.
  • Below peers: days sales outstanding. Days sales outstanding of 374 days ranks 18 of 18 transaction & payment processing services companies we cover (median 53 days).
  • Short interest rising. Shares sold short rose 22% in a month to 5.6% of tradable shares.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.10 against an average estimate of $0.08: beat by 19.2%
Revenue
$28m, up 48.1% on a year earlier
Share reaction
+33.6% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Next report
November 9, 2026; average EPS estimate $0.13

Paysign's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.4%
  • 1 week+1.1%
  • 1 month+1.2%
  • This year+179.6%
  • 1 year+178.5%
  • 5 years+419.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$101M
Operating margin
17.0%
Net margin
15.7%
EPS (TTM, diluted)
$0.25

Growth

Revenue growth
+46.8%
Change in growth rate
+3.5 pts
Share count change
+10.6%

Cash

Free cash flow (TTM)
$73.5M
FCF margin
73.0%
Stock pay % of revenue
5.1%

Earnings

Last results
August 5, 2026
Next results (est.)
November 11, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Insider trade
  3. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Paysign, Inc. valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 2.3% a year for five years.That is slower than the 27.8% a year revenue growth Paysign has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in-2.3%
  • Last 12 months46.8%
  • 3 years a year33.4%
  • 5 years a year27.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($14.39, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$32
Price used
$14.39close November 3, 2026
Implied change
▲ +122%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Paysign, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($49.7M, FY2026 Q2 TTM), growing 18.8% and 13.7% in the next two years (forecasts, guidance and its record), then back to 13% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$25–~$41 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Paysign, Inc.'s free cash flow after stock-based pay ( $49.7M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Paysign, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.05 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$32 ~$25–$41 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$2.7 ~$3.2–$7.5 Left out: out of range vs price (0.19x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$2.8 ~$2.0–$4.2 Left out: out of range vs price (0.20x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$2.4 ~$2.1–$2.8 Left out: out of range vs price (0.16x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$32 ~$25–$41 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Paysign, Inc. with Transaction & Payment Processing Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −23%
  • Revenue growth 5 points higher ▲ +29%
  • Free-cash-flow margin 1 point lower ▼ −1%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $16$20$26$34$45$58
8.5% $13$16$20$26$33$43
10% $11$14$17$21$27$34

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$0.33$0.73$3.52$10.15$4.64$1.60$2.58$2.80$3.02$5.15$14.40
Market value$14m$35m$183m$554m$229m$82m$137m$152m$168m$307m$895m
+ Net debt (− = net cash)−$11m−$17m−$32m−$46m−$8m−$7m−$90m−$109m−$122m−$157m−$171m
Enterprise value$3m$18m$151m$508m$221m$74m$47m$42m$46m$150m$724m
Multiples
Price / sales 1.4x2.3x7.8x16.0x9.5x2.8x3.6x3.2x2.9x3.7x8.9x
Price / earnings 10.3x19.6x70.7x74.3x——132.9x23.5x44.0x40.7x56.7x
Price / free cash flow 3.5x5.4x11.6x34.1x18.4x5.5x5.4x5.5x7.5x6.0x12.2x
EV / EBITDA 1.6x6.8x42.5x67.0x——14.3x11.0x6.5x9.6x27.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

48 /100

Moderate moat

How hard Paysign's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 15 / 20

    Cash operating profit has been a median 11.7% of total assets over 10 years.

  • Pricing power 12 / 20

    Gross margin has been a median 52.4%, moving by 8.3 percentage points (standard deviation) across 10 years.

  • Durability 2 / 20

    Operating margin has been a median 9.4%; its worst year was -58.2%.

  • Cash conversion 19 / 20

    Free cash flow was positive in 9 of 10 years, at a median 46.2% of revenue.

  • Discipline 5 / 20

    The diluted share count rose 27.8% over five years; stock-based pay has been a median 5.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (53 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 9, 2026, after the close. Analysts expect revenue of $29m and EPS of $0.13 (range $0.12 to $0.14) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.49 +277% $115m +40%
Next $0.61 +26% $134m +17%

Next year's EPS estimate has moved +40.8% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +48.5% on 90 days ago. In the last 30 days, 2 analysts raised Paysign, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Paysign, Inc., last 90 days
$0.30 $0.40 $0.50 $0.60 $0.70 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.33 Current fiscal year, 60 days ago: $0.33 Current fiscal year, 30 days ago: $0.49 Current fiscal year, 7 days ago: $0.49 Current fiscal year, Now: $0.49 $0.49 Next fiscal year, 90 days ago: $0.44 Next fiscal year, 60 days ago: $0.44 Next fiscal year, 30 days ago: $0.60 Next fiscal year, 7 days ago: $0.60 Next fiscal year, Now: $0.61 $0.61

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.33$0.44
60 days ago $0.33$0.44
30 days ago $0.49$0.60
7 days ago $0.49$0.60
Now $0.49$0.61

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.08 $0.10 +19.2%
Dec 2025 $0.03 $0.02 −40.0%
Sept 2025 $0.04 $0.04 +14.3%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Paysign, Inc.'s revenue by +18.8% next year and +13.7% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+23.5%, weight 56%) and the company's own record (+13.0%, weight 44%) . How the weights are set.

Analyst recommendations

5 analysts, Oct 2026
Buy5100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026235
  2. Sep 2026235

Counts of recommendations published by analysts covering Paysign, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.6%
of tradable shares
Days to cover
2.96
at average volume
Short interest, 1 month
+22%
to October 15, 2026
Held by institutions
55%
of shares
Held by insiders
21.0%
of shares
Employees
226
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +178.5%

$5.17 on October 31, 2025 to $14.40

ThenNowEffect
Revenue (last 12 months) $69m $101m +46.8%
Net margin 9.9% 15.7% +58.4%
P/E multiple 42.8x 56.7x +32.5%
Share count 56m 62m −9.6%

Biggest factor: net margin.

Last 3 years +627.3%

$1.98 on November 3, 2023 to $14.40

ThenNowEffect
Revenue (last 12 months) $42m $101m +137.4%
Net margin 3.1% 15.7% +410.8%
P/E multiple 80.9x 56.7x −29.9%
Share count 53m 62m −14.5%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
PAYS−66%+61%+9%+8%+71%+180%
Industry peers (median)−18%−35%+6%+13%−26%+5%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
PAYS17%42%50%33%50%82%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
PAYS−73%−50%−58%−47%−42%−38%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 93% from July 18, 2019 to May 12, 2022. Getting back needed a 1348% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$3.18 – $15.62
From 52-week high
−7.8%
vs 50-day average
+4.6%
vs 200-day average
+71.8%
Volatility (1 year)
69%
Beta vs S&P 500
0.84

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±18.2%
After a week
7 up, 5 down
typical move ±26.2%
After a month
6 up, 6 down
typical move ±29.0%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 +33.6% −0.4% +37.9% +39.7%
May 12, 2026 −13.0% +0.4% −11.0% −0.1%
March 24, 2026 +54.2% +0.2% +76.6% +82.3%
November 12, 2025 +6.0% −1.6% −0.2% +6.4%
August 5, 2025 −27.1% +0.3% −24.0% −26.8%
May 8, 2025 +18.0% +0.6% +64.8% +112.9%
March 25, 2025 −9.9% −1.0% −15.9% −4.4%
November 5, 2024 +10.9% +3.7% +5.2% −7.9%
July 31, 2024 −6.7% +0.2% −15.1% −9.6%
May 7, 2024 −0.4% +0.1% +4.6% −7.6%
March 26, 2024 +20.5% +0.7% +34.6% +31.9%
November 7, 2023 +18.1% +0.4% +24.6% +18.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Paysign, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 3, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.81× the last 60 days’ realised volatility .
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Paysign, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Paysign, Inc.
$40M $60M $80M $100M $120M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $44.2M Revenue (TTM), FY23 Q4: $47.3M Revenue (TTM), FY24 Q1: $50.3M Revenue (TTM), FY24 Q2: $53.6M Revenue (TTM), FY24 Q3: $56.5M Revenue (TTM), FY24 Q4: $58.4M Revenue (TTM), FY25 Q1: $63.8M Revenue (TTM), FY25 Q2: $68.5M Revenue (TTM), FY25 Q3: $74.9M Revenue (TTM), FY25 Q4: $82M Revenue (TTM), FY26 Q1: $91.5M Revenue (TTM), FY26 Q2: $100.6M $100.6M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $44.2M
FY23 Q4 $47.3M
FY24 Q1 $50.3M
FY24 Q2 $53.6M
FY24 Q3 $56.5M
FY24 Q4 $58.4M
FY25 Q1 $63.8M
FY25 Q2 $68.5M
FY25 Q3 $74.9M
FY25 Q4 $82M
FY26 Q1 $91.5M
FY26 Q2 $100.6M
Revenue growth, TTM YoY Paysign, Inc.
20% 30% 40% 50% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 22.2% Revenue growth, TTM YoY, FY23 Q4: 24.3% Revenue growth, TTM YoY, FY24 Q1: 25.9% Revenue growth, TTM YoY, FY24 Q2: 26.4% Revenue growth, TTM YoY, FY24 Q3: 27.7% Revenue growth, TTM YoY, FY24 Q4: 23.5% Revenue growth, TTM YoY, FY25 Q1: 26.8% Revenue growth, TTM YoY, FY25 Q2: 27.8% Revenue growth, TTM YoY, FY25 Q3: 32.6% Revenue growth, TTM YoY, FY25 Q4: 40.5% Revenue growth, TTM YoY, FY26 Q1: 43.4% Revenue growth, TTM YoY, FY26 Q2: 46.8% 46.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 22.2%
FY23 Q4 24.3%
FY24 Q1 25.9%
FY24 Q2 26.4%
FY24 Q3 27.7%
FY24 Q4 23.5%
FY25 Q1 26.8%
FY25 Q2 27.8%
FY25 Q3 32.6%
FY25 Q4 40.5%
FY26 Q1 43.4%
FY26 Q2 46.8%
Operating margin (TTM) Paysign, Inc.
-5% 0% 5% 10% 15% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -1.1% Operating margin (TTM), FY23 Q4: -0.4% Operating margin (TTM), FY24 Q1: 0.6% Operating margin (TTM), FY24 Q2: 2.0% Operating margin (TTM), FY24 Q3: 2.1% Operating margin (TTM), FY24 Q4: 1.7% Operating margin (TTM), FY25 Q1: 5.9% Operating margin (TTM), FY25 Q2: 7.4% Operating margin (TTM), FY25 Q3: 8.0% Operating margin (TTM), FY25 Q4: 9.0% Operating margin (TTM), FY26 Q1: 12.6% Operating margin (TTM), FY26 Q2: 17.0% 17.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -1.1%
FY23 Q4 -0.4%
FY24 Q1 0.6%
FY24 Q2 2.0%
FY24 Q3 2.1%
FY24 Q4 1.7%
FY25 Q1 5.9%
FY25 Q2 7.4%
FY25 Q3 8.0%
FY25 Q4 9.0%
FY26 Q1 12.6%
FY26 Q2 17.0%
FCF margin (TTM) Paysign, Inc.
-50% 0% 50% 100% 150% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -3.9% FCF margin (TTM), FY23 Q4: 57.9% FCF margin (TTM), FY24 Q1: 64.3% FCF margin (TTM), FY24 Q2: 104.3% FCF margin (TTM), FY24 Q3: 56.2% FCF margin (TTM), FY24 Q4: 38.6% FCF margin (TTM), FY25 Q1: 12.9% FCF margin (TTM), FY25 Q2: -12.6% FCF margin (TTM), FY25 Q3: 24.0% FCF margin (TTM), FY25 Q4: 62.5% FCF margin (TTM), FY26 Q1: 82.9% FCF margin (TTM), FY26 Q2: 73.0% 73.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -3.9%
FY23 Q4 57.9%
FY24 Q1 64.3%
FY24 Q2 104.3%
FY24 Q3 56.2%
FY24 Q4 38.6%
FY25 Q1 12.9%
FY25 Q2 -12.6%
FY25 Q3 24.0%
FY25 Q4 62.5%
FY26 Q1 82.9%
FY26 Q2 73.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Paysign took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $82M
  2. Other income $2.7M · 3.3%
  3. Cost of revenue $33.3M · 40.6%
  4. Gross profit $48.7M · 59.4%
  5. Selling, general and admin $33M · 40.3%
  6. Other operating costs $8.3M · 10.1%
  7. Operating income $7.4M · 9.0%
  8. Income tax $2.5M · 3.0%
  9. Net income $7.6M · 9.2%

Shares of revenue. Source: Paysign's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 4 3 7 6 10 8 10 15 23 35 24 29 38 47 58 82 101
Gross profit 1 1 1 2 6 4 5 7 11 19 9 15 21 24 32 49 61
EBITDA 0 0 1 1 3 0 2 3 4 8 −6 −0 3 4 7 16 26
Operating income 0 0 1 1 3 −0 1 2 2 6 −8 −3 0 −0 1 7 17
Net income −0 0 2 1 3 −2 1 2 3 7 −9 −3 1 6 4 8 16
Diluted EPS — $0.00 $0.05 $0.01 $0.06 $0.00 $0.03 $0.04 $0.05 $0.14 −$0.19 −$0.05 $0.02 $0.12 $0.07 $0.13 $0.25
Growth (year on year)
Revenue — −24.1% +103.0% −5.9% +63.2% −21.2% +28.5% +46.2% +53.8% +48.0% −30.4% +22.2% +29.1% +24.3% +23.5% +40.5% +46.8%
EBITDA — +68.8% +96.7% +14.8% +301.6% −87.9% +445.7% +36.9% +34.7% +112.9% −181.9% — — +18.6% +81.8% +123.5% +115.9%
Operating income — — +106.1% +16.5% +310.8% −100.3% — +30.1% +39.9% +146.8% −236.7% — — — — — +236.9%
Net income — — +743.9% −66.3% +326.8% −192.3% — +27.9% +44.5% +188.0% −222.6% — — +528.4% −40.9% +97.9% +132.5%
Diluted EPS — — — −80.0% +500.0% −100.0% — +33.3% +25.0% +180.0% −235.7% — — +500.0% −41.7% +85.7% +110.2%
Margins
Gross margin 17.0% 26.4% 20.8% 34.9% 54.8% 50.4% 43.6% 44.0% 48.7% 55.5% 38.6% 49.9% 55.1% 51.1% 55.1% 59.4% 61.0%
EBITDA margin 4.4% 9.8% 9.5% 11.5% 28.4% 4.4% 18.5% 17.4% 15.2% 21.9% −25.8% −0.8% 8.6% 8.2% 12.0% 19.1% 26.3%
Operating margin 1.9% 8.5% 8.6% 10.6% 26.7% −0.1% 13.0% 11.6% 10.6% 17.6% −34.6% −9.3% 0.9% −0.4% 1.7% 9.0% 17.0%
Net margin −0.2% 6.5% 27.1% 9.7% 25.4% −29.7% 13.4% 11.8% 11.0% 21.5% −37.9% −9.2% 2.7% 13.7% 6.5% 9.2% 15.7%
Free-cash-flow margin 1.4% 5.7% 29.5% −10.7% 28.6% −10.6% 39.3% 42.3% 67.2% 46.9% 51.4% 50.6% 66.3% 57.9% 38.6% 62.5% 73.0%
Cash flow
Cash from operations 0 0 2 −1 3 −1 4 7 16 17 14 15 25 28 23 52 75
Capital spending 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 1 1
Free cash flow 0 0 2 −1 3 −1 4 6 16 16 12 15 25 27 23 51 74
Stock-based pay — 0 0 0 1 0 0 0 1 3 3 2 2 3 3 4 5
Free cash flow after stock pay — 0 2 −1 2 −1 4 6 14 14 9 13 23 25 20 47 68
Balance sheet
Cash — — — — — 8 12 17 32 46 8 7 90 109 122 165 176
Total debt 2 2 0 0 0 0 0 0 0 0 0 0 0 0 0 8 5
Net debt (negative = net cash) — — — — — −8 −11 −17 −32 −46 −8 −7 −90 −109 −122 −157 −171
Diluted shares 35m 35m 40m 42m 42m — 44m 48m 52m 55m 49m 51m 53m 54m 56m 60m 62m
Returned to shareholders
Buybacks — — — — — — — — — — — — 0 1 0 0 0
Total returned — — — — — — — — — — — — 0 1 0 0 0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

6 of 6 checks passed · June 30, 2026
What it owns · $317m
Short-term assets $283mLonger-term assets $34m
What it owes, and who funded it · $317m
Short-term liabilities $248mLonger-term liabilities $8mShareholders' equity $60m
  • Short-term assets cover short-term liabilities $283m of assets due within a year against $248m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $283m short-term assets against $8m of longer-dated liabilities.
  • More cash than debt $176m of cash against $5m of debt.
  • Debt below 40% of shareholders' equity Debt is 9% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $75m of operating cash flow against $5m of debt.
  • Operating profit covers interest at least five times over No material interest expense reported.

From Paysign, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$0
Returned to shareholders
0%
of free cash flow
Buybacks, last 3 fiscal years
$2M
Diluted share count
+10.6%
year over year
Total shareholder yield
0.0%
dividends 0.0% + buybacks 0.0% of market value
Sales & admin spending
34.7%
of revenue
Days sales outstanding
374 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in transaction & payment processing services
Last 12 months unless stated PAYS EXOD USIO RPAY RSKD SEZL Median
Revenue, last 12 months $101m $109m $93m $338m $345m $532m $1.6bn
Revenue growth, last 12 months 46.8% −14.2% 10.4% 8.8% 5.2% 43.1% 9.3%
Revenue growth, 3-year average 33.4% — 5.9% 5.2% — 56.7% 7.9%
Revenue growth, latest quarter 48.1% 1.6% 18.6% 33.2% — 51.7% 14.0%
Gross margin 61.0% — 22.3% 73.5% 51.7% — 45.0%
Operating margin 17.0% — −1.2% −44.2% −9.9% 40.4% 9.8%
Operating margin, 3-year average 8.8% — −1.6% −36.4% — 33.3% 11.1%
Net margin 15.7% −79.9% −1.6% −49.6% −8.0% 30.4% 6.1%
Cash from operations / revenue 74.4% −60.9% 0.7% 33.3% 9.8% 51.8% 18.4%
Free-cash-flow margin 73.0% −61.1% −0.3% 32.6% 9.6% 51.6% 16.1%
Free-cash-flow margin, 3-year average 54.9% −27.5% −8.6% 37.6% — 34.0% 16.3%
Stock pay / revenue 5.1% 14.8% 1.8% 5.8% 15.0% 0.8% 2.2%
Change in share count 10.6% — 2.4% −99.9% −7.9% −1.7% −2.7%

Median of all 30 companies we cover in transaction & payment processing services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

30 transaction & payment processing services companies
Measure Company Peer median Rank
Revenue growth Growth 46.8% 9.7% 1 of 30
Change in growth rate Growth +3.5pp -0.3pp 6 of 30
Gross margin Profitability 61.0% 51.7% 3 of 11
Operating margin Profitability 17.0% 9.8% 9 of 29
Net margin Profitability 15.7% 6.6% 9 of 30
Free-cash-flow margin Cash generation 73.0% 18.4% 2 of 25
Stock pay as % of revenue Cash generation 5.1% 2.3% 21 of 30
Long-term debt as % of assets Balance sheet 1.1% 25.3% 3 of 19
Change in share count Balance sheet 10.6% -1.7% 25 of 26
Days sales outstanding Balance sheet 374 days 53 days 18 of 18

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Plasma Industry $45.6M 55.3% ▲ 4.0%
Pharma Industry $33.9M 41.1% ▲ 167.8%
Other Revenue $2.5M 3.1% ▲ 36.2%
Breakage Revenue $474,709 0.6% ▲ 95.9%
Settlement Revenue $0 0.0% ▼ 100.0%

From Paysign, Inc.'s 10-K filed March 25, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$248M
Institutions reporting
133
Shares held vs prior quarter
▲ 15.9%
Positions opened / closed
37 / 13

Top buyers and sellers, Q2 2026: 94 institutions bought and 39 sold ; the biggest buyer was Arrowstreet Capital, Limited Partnership (+869K shares) and the biggest seller 1248 Management, LLC (−497K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Topline Capital Management, LLC $38M 4.6M 15.3% 0.0%
Blackrock, Inc. $25.2M 3.1M 10.2% ▲ 30.9%
Punch & Associates Investment Management, Inc. $17M 2.1M 6.9% ▲ 0.7%
Vanguard Capital Management LLC $13.1M 1.6M 5.3% ▲ 7.5%
Thompson Siegel & Walmsley LLC $11.6M 1.4M 4.7% ▼ 15.2%
Renaissance Technologies LLC $8.8M 1.1M 3.5% ▼ 29.9%
Geode Capital Management, LLC $8.6M 1.0M 3.5% ▲ 26.3%
Palisades Investment Partners, LLC $8.2M 1.0M 3.3% ▲ 0.7%
Arrowstreet Capital, Limited Partnership $7.4M 905K 3.0% ▲ 2413.0%
State Street Corp $6.9M 844K 2.8% ▲ 30.9%
Awm Investment Company, Inc. $6.6M 801K 2.6% ▲ 107.5%
Dimensional Fund Advisors LP $5.9M 725K 2.4% ▲ 26.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Paysign, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $8.4M 21 trades by 8 insiders · 68% under pre-set plans
Net ▼ $8.4M net selling
Insider Date Trade Shares Price Value
Newcomer Mark CEO October 9, 2026 Sell pre-set plan 50,000 $15.34 $766,895
Herman Joan M EVP, Operations September 16, 2026 Sell pre-set plan 38,900 $11.74 $456,686
Herman Joan M EVP, Operations September 15, 2026 Sell pre-set plan 21,004 $12.38 $260,030
Ngo Michael C Chief Innovation Officer September 9, 2026 Sell 79,925 $12.74 $1M
Ngo Michael C Chief Innovation Officer September 8, 2026 Sell 70,075 $12.85 $900,464
Baker Jeffery Bradford Chief Financial Officer August 12, 2026 Sell 35,000 $12.62 $441,700
Newcomer Mark CEO August 6, 2026 Sell pre-set plan 150,000 $11.88 $1.8M
Newcomer Mark CEO July 29, 2026 Sell pre-set plan 50,000 $9.38 $469,000
Herman Joan M EVP, Operations July 16, 2026 Sell pre-set plan 28,000 $8.69 $243,320
Herman Joan M EVP, Operations July 15, 2026 Sell pre-set plan 31,904 $8.60 $274,374
Herman Joan M EVP, Operations June 26, 2026 Sell pre-set plan 100,000 $8.01 $801,000
Mina Bruce A Director June 11, 2026 Sell 10,000 $7.10 $71,000

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 11, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 12, 2026
  • March 24, 2026
  • November 12, 2025
  • August 5, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Paysign, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Paysign, Inc. in brief

What does Paysign, Inc. do?
Paysign, Inc. is a US-listed company in the transaction & payment processing services industry. Its financial year ends in December.
What is Paysign, Inc.'s stock ticker?
Paysign, Inc. trades under the ticker PAYS on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Paysign, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Paysign, Inc. reported revenue of $101M, 46.8% higher than a year earlier, according to its SEC filings.
What is Paysign, Inc.'s free cash flow?
Paysign, Inc.'s free-cash-flow margin is 73.0% of revenue over the trailing twelve months, ranking 2 of the 25 transaction & payment processing services companies we cover.
What is Paysign, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Paysign, Inc.'s free cash flow after stock-based pay gives ~$32 per share in the base case, and ~$25–$41 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Paysign, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Topline Capital Management, LLC, Blackrock, Inc. and Punch & Associates Investment Management, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Paysign, Inc. buying back stock, and does it pay a dividend?
Paysign, Inc. spent $0 on share repurchases over the trailing twelve months, and its diluted share count still rose 10.6% over the year.
What is Paysign, Inc.'s market cap?
On November 2, 2026, Paysign, Inc.'s market capitalisation was about $895M, with a price-to-earnings ratio of 56.7 and net debt of -$171M. Market figures come from third-party market data and may be delayed.
How much debt does Paysign, Inc. have?
Paysign, Inc.'s debt-to-equity ratio is 8.7%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Paysign, Inc.'s competitors?
In our Transaction & Payment Processing Services peer group, the companies closest to Paysign, Inc. are Exodus Movement, Inc., Usio, Inc., Repay Holdings Corp, Riskified LTD. and Sezzle Inc. The side-by-side comparison below sets their revenue, margins and growth against Paysign, Inc.'s.
Are insiders buying or selling Paysign, Inc. stock?
Over the last 12 months, Paysign, Inc.'s directors and officers reported 0 open-market purchases and 21 sales on Form 4. The insider trading page charts every trade.
When is Paysign, Inc.'s next earnings date?
Around November 9, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Paysign, Inc. announces its own schedule.