Paysign sees FY24 EPS 16c-18c, consensus 5c

Raises FY24 revenue view to $56.5M-$58.5M from $54.5M-$56.7M, consensus $56.8M. The company states: “Due to the outperformance of our business during the first two quarters of the year relative to our initial expectations, we are raising our full year guidance as follows: total revenues are estimated to be in the range of $56.5 million to $58.5 million versus our initial guidance of $54.5 million to $56.7 million, reflecting year-over-year growth of 20% to 24%. Plasma revenues are estimated to account for approximately 78% of total revenue while pharma revenue is estimated to account for approximately 20% of total revenue. Full-year gross profit margins are expected to be between 54.0% and 55.0% versus our initial guidance of 52.0% to 54.0% reflecting increased revenue contribution from our pharma patient affordability business. Operating expenses are expected to be between $30.0 million and $32.0 million versus our initial guidance of $29.0 and $31.0 million as we continue to make investments in people and technology to support the growth of our business. Of this amount, depreciation and amortization are expected to remain unchanged between $6.0 million and $6.5 million, while stock-based compensation is expected to remain unchanged between $2.7 million and $3.0 million. Given the continued increases in our average daily balances of unrestricted and restricted cash and the current interest rate environment, we expect to generate interest income of $3.0 million to $3.2 million. We expect our tax rate to be between 28.0% and 29.0% and our fully diluted share count outstanding to be 55.8 million to 56.0 million. Taking all of the factors above into consideration, we expect net income to be in the range of $2.0 million to $3.0 million, or $0.04 to $0.06 per diluted share, and adjusted EBITDA to be in the range of $9.0 million to $10.0 million (15.0% to 17.0% of total revenues), or $0.16 to $0.18 per diluted share.”