PaySign (PAYS)
Market Price (5/5/2026): $6.855 | Market Cap: $377.7 MilSector: Consumer Staples | Industry: Tobacco
PaySign (PAYS)
Market Price (5/5/2026): $6.855Market Cap: $377.7 MilSector: Consumer StaplesIndustry: Tobacco
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 40% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 64%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 54% Attractive yieldFCF Yield is 12% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Digital Payments, and Healthcare Payment Solutions. | Expensive valuation multiplesP/SPrice/Sales ratio is 4.6x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 51x, P/EPrice/Earnings or Price/(Net Income) is 50x Stock price has recently run up significantly12M Rtn12 month market price return is 194% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2% Key risksPAYS key risks include [1] significant overdependence on its plasma and pharma segments amid recent declines in plasma-related revenue, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 40% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 64%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 54% |
| Attractive yieldFCF Yield is 12% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Digital Payments, and Healthcare Payment Solutions. |
| Expensive valuation multiplesP/SPrice/Sales ratio is 4.6x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 51x, P/EPrice/Earnings or Price/(Net Income) is 50x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 194% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2% |
| Key risksPAYS key risks include [1] significant overdependence on its plasma and pharma segments amid recent declines in plasma-related revenue, Show more. |
Qualitative Assessment
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PaySign (PAYS) stock has gained about 65% since 1/31/2026 because of the following key factors:
1. Strong Q4 2025 Revenue Beat and Significant Profitability Growth.
PaySign reported fourth-quarter 2025 revenue of $22.76 million, surpassing analyst estimates of $21.54 million. The company also announced a 40.5% increase in full-year 2025 revenue, reaching $82 million, with net income nearly doubling by 98% to $7.6 million and Adjusted EBITDA growing by 107% to $19.9 million. This strong financial performance for the full year indicated significant operating leverage and contributed to investor confidence.
2. Exceptional 2026 Financial Guidance Outpacing Expectations.
The company provided robust financial guidance for 2026, projecting revenue between $106.5 million and $110.5 million, representing 30% to 35% year-over-year growth and exceeding the consensus estimate of $96.3 million. Additionally, PaySign forecasted its 2026 net income to nearly double, reaching $13 million to $16 million, with Adjusted EBITDA expected to be between $30 million and $33 million. This optimistic outlook highlighted strong anticipated future performance.
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1. Strong Q4 2025 Revenue Beat and Significant Profitability Growth.
PaySign reported fourth-quarter 2025 revenue of $22.76 million, surpassing analyst estimates of $21.54 million. The company also announced a 40.5% increase in full-year 2025 revenue, reaching $82 million, with net income nearly doubling by 98% to $7.6 million and Adjusted EBITDA growing by 107% to $19.9 million. This strong financial performance for the full year indicated significant operating leverage and contributed to investor confidence.
2. Exceptional 2026 Financial Guidance Outpacing Expectations.
The company provided robust financial guidance for 2026, projecting revenue between $106.5 million and $110.5 million, representing 30% to 35% year-over-year growth and exceeding the consensus estimate of $96.3 million. Additionally, PaySign forecasted its 2026 net income to nearly double, reaching $13 million to $16 million, with Adjusted EBITDA expected to be between $30 million and $33 million. This optimistic outlook highlighted strong anticipated future performance.
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Stock Movement Drivers
Fundamental Drivers
The 64.3% change in PAYS stock from 1/31/2026 to 5/4/2026 was primarily driven by a 65.4% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5042026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.17 | 6.85 | 64.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 75 | 82 | 9.5% |
| Net Income Margin (%) | 10.1% | 9.2% | -8.8% |
| P/E Multiple | 30.2 | 50.0 | 65.4% |
| Shares Outstanding (Mil) | 55 | 55 | -0.5% |
| Cumulative Contribution | 64.3% |
Market Drivers
1/31/2026 to 5/4/2026| Return | Correlation | |
|---|---|---|
| PAYS | 64.3% | |
| Market (SPY) | 3.6% | 21.5% |
| Sector (XLP) | 0.6% | 1.3% |
Fundamental Drivers
The 32.6% change in PAYS stock from 10/31/2025 to 5/4/2026 was primarily driven by a 21.0% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5042026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.17 | 6.85 | 32.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 69 | 82 | 19.7% |
| Net Income Margin (%) | 9.9% | 9.2% | -7.0% |
| P/E Multiple | 41.3 | 50.0 | 21.0% |
| Shares Outstanding (Mil) | 54 | 55 | -1.6% |
| Cumulative Contribution | 32.6% |
Market Drivers
10/31/2025 to 5/4/2026| Return | Correlation | |
|---|---|---|
| PAYS | 32.6% | |
| Market (SPY) | 5.5% | 23.2% |
| Sector (XLP) | 11.0% | -0.4% |
Fundamental Drivers
The 185.4% change in PAYS stock from 4/30/2025 to 5/4/2026 was primarily driven by a 48.5% change in the company's P/E Multiple.| (LTM values as of) | 4302025 | 5042026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.40 | 6.85 | 185.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 58 | 82 | 40.5% |
| Net Income Margin (%) | 6.5% | 9.2% | 40.9% |
| P/E Multiple | 33.7 | 50.0 | 48.5% |
| Shares Outstanding (Mil) | 54 | 55 | -2.8% |
| Cumulative Contribution | 185.4% |
Market Drivers
4/30/2025 to 5/4/2026| Return | Correlation | |
|---|---|---|
| PAYS | 185.4% | |
| Market (SPY) | 30.4% | 24.0% |
| Sector (XLP) | 4.9% | 1.8% |
Fundamental Drivers
The 93.0% change in PAYS stock from 4/30/2023 to 5/4/2026 was primarily driven by a 240.7% change in the company's Net Income Margin (%).| (LTM values as of) | 4302023 | 5042026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.55 | 6.85 | 93.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 38 | 82 | 115.7% |
| Net Income Margin (%) | 2.7% | 9.2% | 240.7% |
| P/E Multiple | 180.6 | 50.0 | -72.3% |
| Shares Outstanding (Mil) | 52 | 55 | -5.1% |
| Cumulative Contribution | 93.0% |
Market Drivers
4/30/2023 to 5/4/2026| Return | Correlation | |
|---|---|---|
| PAYS | 93.0% | |
| Market (SPY) | 78.7% | 30.4% |
| Sector (XLP) | 17.1% | 9.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PAYS Return | -66% | 61% | 9% | 8% | 71% | 33% | 48% |
| Peers Return | -27% | -21% | 7% | 16% | -22% | -9% | -49% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 6% | 92% |
Monthly Win Rates [3] | |||||||
| PAYS Win Rate | 17% | 42% | 50% | 33% | 50% | 60% | |
| Peers Win Rate | 37% | 47% | 58% | 58% | 47% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| PAYS Max Drawdown | -69% | -23% | -34% | -11% | -36% | -38% | |
| Peers Max Drawdown | -33% | -32% | -17% | -13% | -42% | -19% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GDOT, FISV, FIS, WEX, GPN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/4/2026 (YTD)
How Low Can It Go
| Event | PAYS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -37.4% | -18.8% |
| % Gain to Breakeven | 59.8% | 23.1% |
| Time to Breakeven | 36 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -15.1% | -9.5% |
| % Gain to Breakeven | 17.8% | 10.5% |
| Time to Breakeven | 14 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -34.3% | -6.7% |
| % Gain to Breakeven | 52.2% | 7.1% |
| Time to Breakeven | 259 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -33.7% | -24.5% |
| % Gain to Breakeven | 50.8% | 32.4% |
| Time to Breakeven | 70 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -61.3% | -33.7% |
| % Gain to Breakeven | 158.1% | 50.9% |
| Time to Breakeven | 94 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.2% | -19.2% |
| % Gain to Breakeven | 25.3% | 23.7% |
| Time to Breakeven | 22 days | 105 days |
In The Past
PaySign's stock fell -37.4% during the 2025 US Tariff Shock. Such a loss loss requires a 59.8% gain to breakeven.
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Asset Allocation
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| Event | PAYS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -37.4% | -18.8% |
| % Gain to Breakeven | 59.8% | 23.1% |
| Time to Breakeven | 36 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -34.3% | -6.7% |
| % Gain to Breakeven | 52.2% | 7.1% |
| Time to Breakeven | 259 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -33.7% | -24.5% |
| % Gain to Breakeven | 50.8% | 32.4% |
| Time to Breakeven | 70 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -61.3% | -33.7% |
| % Gain to Breakeven | 158.1% | 50.9% |
| Time to Breakeven | 94 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.2% | -19.2% |
| % Gain to Breakeven | 25.3% | 23.7% |
| Time to Breakeven | 22 days | 105 days |
| 2013 Taper Tantrum | ||
| % Loss | -44.0% | -0.2% |
| % Gain to Breakeven | 78.6% | 0.2% |
| Time to Breakeven | 1527 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -33.3% | -17.9% |
| % Gain to Breakeven | 50.0% | 21.8% |
| Time to Breakeven | 48 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -20.0% | -15.4% |
| % Gain to Breakeven | 25.0% | 18.2% |
| Time to Breakeven | 46 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -97.8% | -53.4% |
| % Gain to Breakeven | 4400.0% | 114.4% |
| Time to Breakeven | 602 days | 1085 days |
In The Past
PaySign's stock fell -37.4% during the 2025 US Tariff Shock. Such a loss loss requires a 59.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About PaySign (PAYS)
PaySign, Inc. provides prepaid card products and processing services under the PaySign brand for corporate, consumer, and government applications. It offers various services, such as transaction processing, cardholder enrollment, value loading, cardholder account management, reporting, and customer service through PaySign, a proprietary card-processing platform. The company also develops prepaid card programs for corporate incentive and rewards, including consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments, and pharmaceutical payment assistance; and payroll or general purpose reloadable cards, as well as gift or incentive cards. In addition, it offers and Per Diem/Corporate Expense Payments that allows businesses, and nonprofits and government agencies the ability to control employee spending while reducing administration costs by eliminating the need for traditional expense reports. Further, the company provides payment claims processing and other administrative services; pharmacy-based voucher and copay, and medical claims and debit-based affordability programs; PaySign Premier, a demand deposit account debit card; and payment solution for source plasma collection centers, as well as customer service center and PaySign Communications Suite services. Its principal target markets for processing services comprise prepaid card issuers, retail and private-label issuers, small third-party processors, and small and mid-size financial institutions in the United States and Mexico. The company was formerly known as 3PEA International, Inc. and changed its name to PaySign, Inc. in April 2019. PaySign, Inc. was incorporated in 1995 and is based in Henderson, Nevada.
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Here are a few analogies to describe PaySign:
- PaySign is like **a business-to-business version of Green Dot**, providing the technology and services for companies and organizations to create and manage their own custom prepaid card programs for various purposes.
- PaySign is like **a specialized Stripe or Square for businesses that *issue* payments**, offering the backend processing and custom card programs to disburse funds for corporate incentives, healthcare reimbursements, clinical trials, and more.
- PaySign is like **a comprehensive payment solution for corporate and government disbursements**, similar to how ADP handles payroll, but PaySign offers custom prepaid card programs for everything from employee expenses to patient assistance.
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- Prepaid Card Programs: Develops and manages various prepaid cards for corporate incentives, consumer rebates, donor compensation, clinical trials, healthcare payments, payroll, and general purpose reloadable applications.
- Card Processing Services: Offers a proprietary platform providing transaction processing, cardholder enrollment, value loading, account management, reporting, and customer service for prepaid card programs.
- Per Diem/Corporate Expense Payments: A payment solution enabling businesses, non-profits, and government agencies to control employee spending and reduce administrative overhead.
- Healthcare Payment Programs: Provides specialized payment solutions including pharmacy-based vouchers, copay programs, medical claims processing, and debit-based affordability programs.
- PaySign Premier: A demand deposit account debit card offering a comprehensive payment and banking-like solution.
- Plasma Donor Payment Solution: A specialized payment system designed for source plasma collection centers to compensate donors efficiently.
- Payment Claims Processing and Administrative Services: Offers services for processing various payment claims and related administrative tasks.
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Major Suppliers for PaySign (PAYS):
- The Bancorp Bank, N.A. (part of The Bancorp, Inc., NASDAQ: TBBK)
- Sunrise Banks, N.A. (private company)
- Visa Inc. (NYSE: V)
- Mastercard Incorporated (NYSE: MA)
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Mark R. Newcomer - Chairman of the Board, President and Chief Executive Officer
Mr. Newcomer is a co-founder of Paysign (formerly 3PEA Technologies), established in 2001, and has served as its Chief Executive Officer since 2001 and as a director since March 2006. He also holds the title of Chairman of the Board. He attended Cal-Poly San Luis Obispo, where he majored in Bio-Science. Under his leadership, Paysign has shown strong operating momentum. Mr. Newcomer has also been involved in stock sales under a pre-arranged trading plan.
Jeffery Bradford Baker - Chief Financial Officer, Treasurer and Principal Accounting Officer
Mr. Baker was appointed Chief Financial Officer, Treasurer, and Principal Accounting Officer of Paysign effective February 22, 2021. Prior to joining Paysign, he served as Executive Vice President of Mergers and Acquisitions at InComm Payments, where he oversaw numerous acquisitions, divestitures, joint ventures, and investments across the Americas, Asia, and Australia. Before his tenure at InComm, Mr. Baker held the position of Chief Development and Strategy Officer at Global Payments Inc., where he was also responsible for worldwide acquisitions and divestitures.
Cosimo Cambi - Chief Operating Officer
Mr. Cambi serves as the Chief Operating Officer of PaySign.
Matthew Louis Lanford - Chief Payments Officer and Director
Mr. Lanford holds the position of Chief Payments Officer and Director at Paysign. He joined Paysign in 2019 as Chief Product Officer and was appointed President and Chief Operating Officer in February 2021 before transitioning to his current role. He brings over 30 years of experience in the payments industry to the company. Mr. Lanford earned his Bachelor of Science in Computer Science from the University of Arkansas at Little Rock.
Robert P. Strobo - General Counsel, Chief Legal Officer and Secretary
Mr. Strobo is the General Counsel, Chief Legal Officer, and Secretary for Paysign. He was appointed General Counsel and Corporate Secretary in September 2018.
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Here are the key risks to PaySign's business:
- Regulatory and Compliance Risk: PaySign operates in highly regulated sectors, including financial services and healthcare. Changes in financial or healthcare-related regulations could significantly impact its operations, increase compliance costs, and affect profitability. Regulatory scrutiny in the patient affordability landscape is expected to intensify, and changes in rules governing specific programs, like plasma donations, have a direct impact on the company's business.
- Cybersecurity and Data Breach Risk: As a provider of payment processing and prepaid card services, PaySign handles sensitive consumer information. The company recently initiated an investigation into an alleged data breach impacting over 1.2 million consumer records, which reportedly exposed full names, birthdates, phone numbers, addresses, and account balances. Such incidents can lead to significant financial losses, reputational damage, and erosion of customer trust.
- Competition and Customer Concentration Risk: PaySign faces intense competition from larger fintech firms and traditional financial institutions in the prepaid card and payment processing sectors. The overall prepaid card market has experienced a decline in recent years, which could threaten some of PaySign's core operations. Furthermore, the company has a heavy reliance on specific market segments, particularly plasma donation and healthcare programs. This concentration exposes PaySign to significant risk if key contracts are lost, industry regulations change, or these specific markets face headwinds.
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PaySign, Inc. operates within several addressable markets, primarily in the United States and Mexico, centered around prepaid card products and processing services, healthcare payment solutions, and payment processing for specific industries. The estimated market sizes for their main products and services are as follows:
- Prepaid Card Products and Processing Services (Overall): The U.S. prepaid card market was valued at approximately USD 1.76 trillion in 2024 and is projected to reach around USD 10.62 trillion by 2034. Another estimate places the U.S. market at USD 1.48 trillion in 2023, growing to USD 10.72 trillion by 2034.
- Corporate Incentive and Rewards Programs: U.S. businesses spend an estimated USD 176 billion annually on non-cash incentives, recognition, rewards, incentive travel, and corporate gifting. Gift cards are a prevalent component of these programs. The U.S. gift card and incentive card market, which includes corporate purchases, was valued at USD 207.09 billion in 2025 and is estimated to grow to USD 300.73 billion by 2031. Corporate B2B purchases constituted 64.85% of this market in 2025.
- Payroll Cards: The global payroll card market was valued at USD 218.7 billion in 2023 and is projected to reach USD 981.4 billion by 2032. In the U.S., approximately 8 million workers receive wages through payroll prepaid cards.
- General Purpose Reloadable (GPR) Cards: The general-purpose reloadable card market in the U.S. represented a total load value of USD 255 billion in 2024.
- Gift Cards: The U.S. gift card market size was valued at USD 342.95 billion in 2024 and is expected to reach USD 886.23 billion by 2032. Another source estimates the U.S. gift cards market at USD 423.11 billion in 2024, projected to reach USD 949.26 billion by 2030. The United States accounts for approximately 36.1% of the global gift card market, with a value of USD 447.7 billion.
- Per Diem/Corporate Expense Payments: While a specific market size for per diem payment processing was not identified as a standalone category, such payments are typically handled through corporate prepaid cards and fall under the broader corporate incentive and expense management markets mentioned above.
- Payment Claims Processing and Other Administrative Services: The global claims processing software market, which provides the foundational tools for such services, was estimated at USD 40.84 billion in 2024. North America is a dominant region, expected to contribute 43% to the global market growth.
- Healthcare Reimbursement Payments and Pharmaceutical Payment Assistance Programs: The U.S. healthcare reimbursement market size was approximately USD 9.78 billion in 2024 and is projected to grow to around USD 53.44 billion by 2034. The global pharmaceutical copayment assistance market was estimated at USD 12.4 billion in 2025 and is expected to reach USD 23.6 billion by 2032.
- Payment Solutions for Source Plasma Collection Centers: The U.S. blood plasma collection market was valued at USD 5.50 billion in 2024 and is expected to reach USD 8.97 billion by 2032. The source plasma segment accounted for a 74.6% revenue share of this market in 2024. The United States is the largest contributor to the global source plasma supply.
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PaySign (NASDAQ: PAYS) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market expansions:
- Expansion of Patient Affordability Programs (Pharmaceutical Segment): PaySign's patient affordability business is a significant growth driver, with substantial year-over-year revenue increases and projections for continued rapid expansion. The company is actively forging new partnerships with pharmaceutical companies and adding new patient programs to help individuals access necessary medications. The pharmaceutical patient affordability segment is projected to grow significantly, with one report anticipating a 100% growth by 2025.
- Growth in Plasma Donor Compensation Business: Despite some industry fluctuations, PaySign has recently secured a substantial expansion, adding 132 established plasma donation centers through an existing relationship with a major plasma collection company. This expansion is expected to increase PaySign's U.S. market share to approximately 50% and drive immediate revenue growth, reaching full revenue contribution by the end of the first quarter of 2026. The company plans to add more plasma centers and leverage its operational model.
- Diversification into New Verticals and Services: PaySign is actively expanding into new verticals beyond its core plasma and pharma segments. These include corporate incentives, employee rewards, healthcare reimbursements, and clinical trials programs. The company also offers the PaySign Premier demand deposit account debit card and related digital banking services, which represent another avenue for growth.
- Technological Advancements and Platform Scalability: The company's proprietary card-processing platform and ongoing investment in technology, such as its Dynamic Business Rules (DBR) technology, are crucial for streamlining operations, enhancing service offerings, and attracting new clients. Furthermore, the acquisition of Gamma Innovation LLC is expected to augment PaySign's offerings by entering the high-margin SaaS market with integrated donor and patient engagement, adherence, resource management, and market intelligence solutions.
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Share Repurchases
- PaySign's Board of Directors authorized a $5 million share repurchase program on March 22, 2023.
- The company made share repurchases totaling approximately $376,000 in Q1 2025, $134,690 in Q4 2024, and $360,000 in Q3 2024.
- In 2023, PaySign's share repurchases included approximately $150,000 in Q3, $311,960 in Q2, and $666,000 in Q1.
Share Issuance
- In Q3 2025, stock-based compensation, related to the issuance of restricted stock units for new hires and employee retention, increased by 32% to $1.3 million.
- For the full year 2025, stock-based compensation expense is projected to be approximately $4.3 million.
- Company executives, including the Chief Payments Officer, CFO, and Chief Legal Officer, received common shares as part of restricted stock grants with vesting periods extending through July 2027, indicating ongoing share issuance for compensation.
Capital Expenditures
- In Q3 2025, PaySign invested $454,000 in capital expenditures, primarily for long-term assets and infrastructure.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| PaySign Earnings Notes | 12/16/2025 | |
| How Low Can PaySign Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 55.05 |
| Mkt Cap | 11.2 |
| Rev LTM | 5,504 |
| Op Inc LTM | 1,114 |
| FCF LTM | 1,114 |
| FCF 3Y Avg | 1,214 |
| CFO LTM | 1,631 |
| CFO 3Y Avg | 1,625 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.5% |
| Rev Chg 3Y Avg | 4.7% |
| Rev Chg Q | 7.0% |
| QoQ Delta Rev Chg LTM | 1.7% |
| Op Inc Chg LTM | -1.2% |
| Op Inc Chg 3Y Avg | 12.7% |
| Op Mgn LTM | 17.6% |
| Op Mgn 3Y Avg | 18.3% |
| QoQ Delta Op Mgn LTM | -1.1% |
| CFO/Rev LTM | 27.5% |
| CFO/Rev 3Y Avg | 29.8% |
| FCF/Rev LTM | 18.7% |
| FCF/Rev 3Y Avg | 21.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 11.2 |
| P/S | 2.0 |
| P/Op Inc | 12.4 |
| P/EBIT | 12.0 |
| P/E | 14.6 |
| P/CFO | 6.8 |
| Total Yield | 5.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 6.6% |
| D/E | 0.7 |
| Net D/E | 0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 12.0% |
| 3M Rtn | 0.4% |
| 6M Rtn | -0.6% |
| 12M Rtn | 8.0% |
| 3Y Rtn | -20.8% |
| 1M Excs Rtn | 2.6% |
| 3M Excs Rtn | -2.8% |
| 6M Excs Rtn | -6.5% |
| 12M Excs Rtn | -17.5% |
| 3Y Excs Rtn | -92.4% |
Price Behavior
Price Behavior
| Market Price | $6.85 | |
| Market Cap ($ Bil) | 0.4 | |
| First Trading Date | 02/23/2007 | |
| Distance from 52W High | -20.0% | |
| 50 Days | 200 Days | |
| DMA Price | $4.92 | $5.24 |
| DMA Trend | down | up |
| Distance from DMA | 39.2% | 30.8% |
| 3M | 1YR | |
| Volatility | 94.8% | 77.0% |
| Downside Capture | 0.40 | 0.55 |
| Upside Capture | 268.62 | 203.50 |
| Correlation (SPY) | 21.4% | 24.6% |
PAYS Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.56 | 0.99 | 1.36 | 1.30 | 1.48 | 1.29 |
| Up Beta | 1.02 | 0.24 | 0.93 | 0.97 | 1.78 | 1.18 |
| Down Beta | -4.74 | -0.76 | -0.30 | -0.11 | 0.92 | 1.11 |
| Up Capture | 161% | 389% | 320% | 244% | 295% | 302% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 13 | 25 | 31 | 54 | 122 | 353 |
| Down Capture | 779% | -12% | 104% | 155% | 103% | 109% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 8 | 16 | 31 | 66 | 121 | 367 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PAYS | |
|---|---|---|---|---|
| PAYS | 180.9% | 76.9% | 1.67 | - |
| Sector ETF (XLP) | 5.9% | 12.6% | 0.18 | 1.4% |
| Equity (SPY) | 29.7% | 12.5% | 1.83 | 25.1% |
| Gold (GLD) | 39.6% | 27.2% | 1.21 | 2.8% |
| Commodities (DBC) | 50.7% | 18.0% | 2.18 | -8.5% |
| Real Estate (VNQ) | 12.1% | 13.5% | 0.60 | 16.5% |
| Bitcoin (BTCUSD) | -19.0% | 42.2% | -0.39 | 22.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PAYS | |
|---|---|---|---|---|
| PAYS | 11.0% | 67.6% | 0.43 | - |
| Sector ETF (XLP) | 6.8% | 13.2% | 0.29 | 11.8% |
| Equity (SPY) | 12.8% | 17.1% | 0.59 | 34.5% |
| Gold (GLD) | 20.1% | 17.9% | 0.91 | 4.9% |
| Commodities (DBC) | 14.1% | 19.1% | 0.60 | 7.2% |
| Real Estate (VNQ) | 3.3% | 18.8% | 0.08 | 25.7% |
| Bitcoin (BTCUSD) | 7.3% | 56.2% | 0.34 | 15.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PAYS | |
|---|---|---|---|---|
| PAYS | 5.4% | 74.3% | 0.42 | - |
| Sector ETF (XLP) | 7.6% | 14.7% | 0.39 | 15.6% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 32.2% |
| Gold (GLD) | 13.4% | 15.9% | 0.70 | 4.7% |
| Commodities (DBC) | 9.7% | 17.7% | 0.46 | 12.0% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.23 | 27.1% |
| Bitcoin (BTCUSD) | 67.1% | 66.9% | 1.06 | 12.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/24/2026 | 36.6% | 56.5% | 61.5% |
| 11/12/2025 | 0.0% | -5.9% | -2.0% |
| 8/5/2025 | -26.7% | -23.6% | -26.4% |
| 3/25/2025 | -8.5% | -14.5% | -2.8% |
| 11/5/2024 | 6.0% | 0.5% | -12.0% |
| 7/31/2024 | -8.6% | -16.9% | -11.4% |
| 3/26/2024 | 18.3% | 32.2% | 29.6% |
| 11/7/2023 | 13.5% | 19.8% | 13.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 9 | 7 |
| # Negative | 9 | 9 | 11 |
| Median Positive | 7.6% | 12.8% | 18.5% |
| Median Negative | -13.7% | -17.6% | -12.0% |
| Max Positive | 36.6% | 56.5% | 61.5% |
| Max Negative | -31.6% | -32.4% | -45.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/25/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 03/26/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/27/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/22/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/10/2022 | 10-Q |
| 03/31/2022 | 05/12/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 3/24/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | 27.00 Mil | 27.25 Mil | 27.50 Mil | ||||
| Q1 2026 Operating Margin | 20.0% | 21.0% | 22.0% | ||||
| Q1 2026 Net Margin | 17.0% | 18.0% | 19.0% | ||||
| Q1 2026 Adjusted EBITDA Margin | 34.5% | 35.5% | 36.5% | ||||
| Q1 2026 EPS | 0.07 | 0.07 | 0.08 | ||||
| 2026 Revenue | 106.50 Mil | 108.50 Mil | 110.50 Mil | 34.0% | Higher New | Actual: 81.00 Mil for 2025 | |
| 2026 Revenue Growth | 30.0% | 32.5% | 35.0% | ||||
| 2026 Gross Profit Margin | 60.0% | 61.0% | 62.0% | ||||
| 2026 Net Income | 13.00 Mil | 14.50 Mil | 16.00 Mil | 93.3% | Higher New | Actual: 7.50 Mil for 2025 | |
| 2026 EPS | 0.21 | 0.23 | 0.26 | 88.0% | Higher New | Actual: 0.12 for 2025 | |
| 2026 Adjusted EBITDA | 30.00 Mil | 31.50 Mil | 33.00 Mil | 61.5% | Higher New | Actual: 19.50 Mil for 2025 | |
Prior: Q3 2025 Earnings Reported 11/12/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | 80.50 Mil | 81.00 Mil | 81.50 Mil | 4.5% | Raised | Guidance: 77.50 Mil for 2025 | |
| 2025 Operating Expenses | 41.50 Mil | 42.00 Mil | 42.50 Mil | 0 | Affirmed | Guidance: 42.00 Mil for 2025 | |
| 2025 Depreciation and Amortization | 8.40 Mil | 0 | Affirmed | Guidance: 8.40 Mil for 2025 | |||
| 2025 Stock-based Compensation | 4.30 Mil | -2.3% | Lowered | Guidance: 4.40 Mil for 2025 | |||
| 2025 Interest Income | 2.60 Mil | 4.0% | Raised | Guidance: 2.50 Mil for 2025 | |||
| 2025 Net Income | 7.00 Mil | 7.50 Mil | 8.00 Mil | 15.4% | Raised | Guidance: 6.50 Mil for 2025 | |
| 2025 EPS | 0.12 | 0.12 | 0.13 | 13.6% | Raised | Guidance: 0.11 for 2025 | |
| 2025 Adjusted EBITDA | 19.00 Mil | 19.50 Mil | 20.00 Mil | 2.6% | Raised | Guidance: 19.00 Mil for 2025 | |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Strobo, Robert | Chief Legal Officer | Direct | Sell | 12122025 | 5.47 | 20,000 | 109,400 | 1,790,276 | Form |
| 2 | Newcomer, Mark | CEO | Direct | Sell | 8042025 | 7.09 | 62,158 | 440,396 | 61,999,783 | Form |
| 3 | Strobo, Robert | Chief Legal Officer | Direct | Sell | 8042025 | 7.09 | 26,521 | 187,904 | 1,752,074 | Form |
| 4 | Herman, Joan M | EVP, Operations | Direct | Sell | 8042025 | 7.09 | 14,160 | 100,325 | 5,820,998 | Form |
| 5 | Baker, Jeffery Bradford | Chief Financial Officer | Direct | Sell | 8042025 | 7.09 | 30,396 | 215,359 | 1,787,379 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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