Filing Flows › Paysign (PAYS) › Q1 2026 › vs Q1 2025
Paysign (PAYS) Q1 2026 vs Q1 2025 (year over year)
Paysign's revenue rose $9.4M (+51%) from $18.6M in Q1 2025 to $28.0M in Q1 2026. The biggest changes: Pharma Industry +$7.1M (+82%); Plasma Industry +$2.3M (+25%); Other Revenue +$41K (+7%). Gross margin 65.0% against 62.9% (+2.1 pts).
Paysign, Q1 2026: revenue $28.0M (+51% year over year), operating margin 23.8%, net earnings $5.4M, operating cash flow $18.8M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Gross margin | 65.0% | 62.9% | +2.1 pts |
| Operating margin | 23.8% | 13.4% | +10.4 pts |
| Net margin | 19.4% | 13.9% | +5.5 pts |
| Free cash flow margin | 66.0% | -32.9% | +98.9 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Pharma Industry | $15.7M | $8.6M | $7.1M | +82% |
| Plasma Industry | $11.7M | $9.4M | $2.3M | +25% |
| Other Revenue | $610K | $570K | $41K | +7% |
| Breakage Revenue | $112K | $101K | $11K | +11% |
| Revenue | $28.0M | $18.6M | $9.4M | +51% |
| Gross profit | $18.2M | $11.7M | $6.5M | +56% |
| Cost of revenue | $9.8M | $6.9M | $2.9M | +42% |
| Other income, net | $801K | $762K | $39K | +5% |
| Operating profit | $6.7M | $2.5M | $4.2M | +168% |
| Operating expenses | $11.6M | $9.2M | $2.3M | +26% |
| Pre-tax earnings | $7.5M | $3.3M | $4.2M | +130% |
| SG&A | $8.9M | $7.4M | $1.5M | +20% |
| Other operating costs | $2.6M | $1.8M | $835K | +46% |
| Net earnings | $5.4M | $2.6M | $2.9M | +110% |
| Income tax | $2.0M | $665K | $1.4M | +205% |
| Depreciation & amortization | $2.6M | $1.8M | $835K | +46% |
| Share-based compensation | $1.3M | $672K | $612K | +91% |
| Working capital & other | $9.4M | −$11.1M | $20.5M | — |
| Operating cash flow | $18.8M | −$6.0M | $24.8M | — |
| Free cash flow (OCF − capex) | $18.5M | −$6.1M | $24.6M | — |
| Capital expenditures | $266K | $79K | $188K | +239% |
Questions
How much did Paysign's revenue grow year over year in Q1 2026?
Paysign's revenue rose $9.4M (+51%) from $18.6M in Q1 2025 to $28.0M in Q1 2026.
What drove Paysign's revenue change in Q1 2026?
Pharma Industry +$7.1M (+82%); Plasma Industry +$2.3M (+25%); Other Revenue +$41K (+7%).