Filing Flows › Paysign (PAYS) › Q1 2025
Paysign (PAYS) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
Paysign (PAYS) reported revenue of $18.6M for the first quarter 2025 (Q1 2025), +41% from a year earlier and +19% from the quarter before. Operating margin was 13.4%, net earnings $2.6M (13.9% of revenue).
Paysign, Q1 2025: revenue $18.6M (+41% year over year), operating margin 13.4%, net earnings $2.6M, operating cash flow −$6.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $18.6M | +19% | +41% |
| Gross profit | $11.7M | +27% | +68% |
| Operating profit | $2.5M | +436% | — |
| Net earnings | $2.6M | +88% | +737% |
| Operating cash flow | −$6.0M | -142% | — |
What changed
Revenue was $18.6M in Q1 2025, up 41% year over year and up 19% from the previous quarter. Plasma Industry was the largest line at 51% of revenue. Pharma Industry added $6.2M year over year (up 261%), 115% of the total change. Plasma Industry declined 9%.
Gross margin was 62.9%, up 10.3 points from a year earlier. Operating profit was $2.5M, a 13.4% margin (up 15.3 points year over year). Operating expenses grew 28% against revenue growth of 41%. The fastest-growing cost line was Other operating costs (+40%). Net earnings were $2.6M, up 737% year over year. The effective tax rate was 20.5%. Non-operating items added $762K, 23% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$6.0M. Non-cash charges added back $1.8M of depreciation and amortization and $672K of share-based compensation. Working capital and other items used $11.1M. Capital expenditures of $79K exceeded it, leaving free cash flow of −$6.1M.
Questions
What was Paysign's revenue in the first quarter 2025?
Paysign (PAYS) reported revenue of $18.6M for the first quarter 2025 (Q1 2025), +41% from a year earlier and +19% from the quarter before.
Was Paysign profitable in the first quarter 2025?
Operating profit was $2.5M (13.4% of revenue) and net earnings $2.6M.
Source: Paysign 10-Q on SEC EDGAR.