Filing Flows › Paysign (PAYS) › Q1 2026 › vs Q4 2025
Paysign (PAYS) Q1 2026 vs Q4 2025 (quarter over quarter)
Paysign's revenue rose $5.3M (+23%) from $22.8M in Q4 2025 to $28.0M in Q1 2026. Gross margin 65.0% against 57.7% (+7.3 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 Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Gross margin | 65.0% | 57.7% | +7.3 pts |
| Operating margin | 23.8% | 8.1% | +15.6 pts |
| Net margin | 19.4% | 6.0% | +13.4 pts |
| Free cash flow margin | 66.0% | 208.7% | -142.7 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $28.0M | $22.8M | $5.3M | +23% |
| Gross profit | $18.2M | $13.1M | $5.1M | +39% |
| Cost of revenue | $9.8M | $9.6M | $185K | +2% |
| Other income, net | $801K | $639K | $161K | +25% |
| Operating profit | $6.7M | $1.9M | $4.8M | +260% |
| Operating expenses | $11.6M | $11.3M | $284K | +3% |
| Pre-tax earnings | $7.5M | $2.5M | $5.0M | +200% |
| SG&A | $8.9M | $9.1M | −$144K | -2% |
| Other operating costs | $2.6M | $2.2M | $429K | +19% |
| Net earnings | $5.4M | $1.4M | $4.1M | +299% |
| Income tax | $2.0M | $1.1M | $899K | +79% |
| Depreciation & amortization | $2.6M | $2.2M | $429K | +19% |
| Share-based compensation | $1.3M | $1.4M | −$86K | -6% |
| Working capital & other | $9.4M | $43.2M | −$33.7M | -78% |
| Operating cash flow | $18.8M | $48.1M | −$29.3M | -61% |
| Free cash flow (OCF − capex) | $18.5M | $47.5M | −$29.0M | -61% |
| Capital expenditures | $266K | $591K | −$324K | -55% |
Questions
How much did Paysign's revenue grow quarter over quarter in Q1 2026?
Paysign's revenue rose $5.3M (+23%) from $22.8M in Q4 2025 to $28.0M in Q1 2026. Gross margin 65.0% against 57.7% (+7.3 pts).