The following is a summary of the Paysign, Inc. (PAYS) Q1 2024 Earnings Call Transcript:
Financial Performance:
Paysign reported Q1 2024 revenue of $13.2 million, marking a 30% increase year-over-year.
Paysign's adjusted EBITDA increased by 135% to $1.7 million, or $0.03 per fully diluted share, up from $720,000 in the previous year.
Gross dollar load volume and gross spend volume rose by 13% and 11% respectively.
The Patient Affordability business contributed to 59% of the total year-over-year revenue growth with a 305% increase in revenue.
Business Progress:
Paysign expanded its patient affordability programs to reach a total of 53 active programs.
An entrance into retail drug programs with 4 programs added in Q1 and more expected to launch in the future.
The plasma donor compensation business saw an 11% increase in revenue.
The company anticipates adding 15 to 25 new plasma donor centers in 2024.
Paysign is seeking to enter new markets while also investing in its personnel and systems to meet growing demand.
More details: PaySign IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.