Filing Flows › Paysign (PAYS) › Q3 2025
Paysign (PAYS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 13, 2025
Paysign (PAYS) reported revenue of $21.6M for the third quarter 2025 (Q3 2025), +42% from a year earlier and +13% from the quarter before. Operating margin was 7.3%, net earnings $2.2M (10.3% of revenue).
Paysign, Q3 2025: revenue $21.6M (+42% year over year), operating margin 7.3%, net earnings $2.2M, operating cash flow $6.8M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $21.6M | +13% | +42% |
| Gross profit | $12.2M | +3% | +43% |
| Operating profit | $1.6M | +10% | +129% |
| Net earnings | $2.2M | +60% | +54% |
| Operating cash flow | $6.8M | +85% | — |
| Free cash flow | $6.3M | +77% | — |
What changed
Revenue was $21.6M in Q3 2025, up 42% year over year and up 13% from the previous quarter. Plasma Industry was the largest line at 60% of revenue. Pharma Industry added $4.6M year over year (up 142%), 73% of the total change.
Gross margin was 56.3%, up 0.7 points from a year earlier. Operating profit was $1.6M, a 7.3% margin (up 2.8 points year over year). Of the extra revenue versus a year earlier, 14% reached operating profit, above the 5% margin then. Operating expenses grew 36% against revenue growth of 42%. The fastest-growing cost line was Other operating costs (+40%). Net earnings were $2.2M, up 54% year over year. The effective tax rate was 1.4%. Non-operating items added $664K, 30% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $6.8M, 305% of net earnings. Non-cash charges added back $2.2M of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items added $1.1M. Capital expenditures of $454K left free cash flow of $6.3M.
Questions
What was Paysign's revenue in the third quarter 2025?
Paysign (PAYS) reported revenue of $21.6M for the third quarter 2025 (Q3 2025), +42% from a year earlier and +13% from the quarter before.
Was Paysign profitable in the third quarter 2025?
Operating profit was $1.6M (7.3% of revenue) and net earnings $2.2M.
Source: Paysign 10-Q on SEC EDGAR.