What is Paysign's operating income?

Paysign's total operating income in 2025 was $7.36 million, based on the following breakdown: Total Gross Profit: $48.72 million Total Operating Expenses: $41.35 million

Paysign (PAYS) Financials

$15.60 +0.44 (+2.90%)

Closing price 04:00 PM Eastern

Extended Trading

$15.23 -0.37 (-2.40%)

As of 04:25 PM Eastern

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Annual Income Statements for Paysign

This table shows Paysign's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-2.41	1.40	1.79	2.59	7.45	-9.14	-2.72	1.03	6.46	3.82	7.55
Consolidated Net Income / (Loss)	-2.55	1.30	1.79	2.58	7.45	-9.14	-2.72	1.03	6.46	3.82	7.55
Net Income / (Loss) Continuing Operations	-2.55	1.30	1.79	2.58	7.45	-9.14	-2.72	1.03	6.46	3.82	7.55
Total Pre-Tax Income	-2.55	1.30	1.79	2.58	6.54	-8.25	-2.71	1.14	2.36	4.14	10
Total Operating Income	-0.01	1.36	1.77	2.47	6.10	-8.34	-2.74	0.34	-0.17	1.02	7.36
Total Gross Profit	4.09	4.54	6.70	11	19	9.30	15	21	24	32	49
Total Revenue	8.11	10	15	23	35	24	29	38	47	58	82
Operating Revenue	8.11	10	15	23	35	24	29	38	47	58	82
Total Cost of Revenue	4.02	5.88	8.53	12	15	15	15	17	23	26	33
Operating Cost of Revenue	4.02	5.88	8.53	12	15	15	15	17	23	26	33
Total Operating Expenses	4.10	3.18	4.93	8.92	13	18	17	21	24	31	41
Selling, General & Admin Expense	3.73	2.61	4.06	7.84	12	15	15	18	20	25	33
Depreciation Expense	0.36	0.57	0.88	1.09	1.48	2.12	2.50	2.91	4.03	5.99	8.32
Total Other Income / (Expense), net	-2.54	-0.06	0.02	0.11	0.44	0.09	0.03	0.79	2.53	3.12	2.67
Interest & Investment Income	-	-	-	0.14	0.44	0.09	0.03	0.79	2.53	3.12	2.67
Income Tax Expense	0.00	0.00	0.01	0.00	-0.91	0.89	0.01	0.11	-4.09	0.32	2.48
Basic Earnings per Share	($0.06)	$0.04	$0.04	$0.06	$0.16	-	($0.05)	$0.02	$0.12	$0.07	$0.14
Weighted Average Basic Shares Outstanding	39.64M	42.88M	43.40M	45.45M	47.44M	49.27M	50.98M	52.05M	52.49M	53.21M	54.43M
Diluted Earnings per Share	$0.00	$0.03	$0.04	$0.05	$0.14	-	($0.05)	$0.02	$0.12	$0.07	$0.13
Weighted Average Diluted Shares Outstanding	0.00	43.87M	48.04M	51.99M	54.55M	49.27M	50.98M	52.93M	54.16M	55.59M	59.65M
Weighted Average Basic & Diluted Shares Outstanding	42.77M	43.19M	43.67M	46.73M	49.01M	50.45M	51.86M	52.46M	52.97M	53.75M	55.19M

This table shows Paysign's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	5.62	0.31	0.70	1.44	1.37	2.59	1.39	2.22	1.36	5.44	6.76
Consolidated Net Income / (Loss)	5.62	0.31	0.70	1.44	1.37	2.59	1.39	2.22	1.36	5.44	6.76
Net Income / (Loss) Continuing Operations	5.62	0.31	0.70	1.44	1.37	2.59	1.39	2.22	1.36	5.44	6.76
Total Pre-Tax Income	1.36	0.47	0.94	1.49	1.24	3.25	2.04	2.25	2.49	7.47	7.91
Total Operating Income	0.63	-0.26	0.13	0.69	0.46	2.49	1.44	1.58	1.85	6.67	7.01
Total Gross Profit	7.14	6.94	7.59	8.47	9.20	12	12	12	13	18	18
Total Revenue	14	13	14	15	16	19	19	22	23	28	28
Operating Revenue	14	13	14	15	16	19	19	22	23	28	28
Total Cost of Revenue	6.55	6.25	6.75	6.78	6.41	6.91	7.32	9.45	9.63	9.82	10
Operating Cost of Revenue	6.55	6.25	6.75	6.78	6.41	6.91	7.32	9.45	9.63	9.82	10
Total Operating Expenses	6.51	7.20	7.46	7.78	8.73	9.20	10	11	11	12	11
Selling, General & Admin Expense	5.33	5.91	6.02	6.22	7.03	7.40	8.20	8.38	9.06	8.91	8.55
Depreciation Expense	1.18	1.29	1.44	1.57	1.70	1.80	2.12	2.19	2.21	2.64	2.34
Total Other Income / (Expense), net	0.73	0.73	0.81	0.80	0.77	0.76	0.61	0.66	0.64	0.80	0.89
Interest & Investment Income	0.73	0.73	0.81	0.80	0.77	0.76	0.61	0.66	0.64	0.80	0.89
Income Tax Expense	-4.26	0.16	0.24	0.05	-0.14	0.67	0.66	0.03	1.13	2.03	1.15
Basic Earnings per Share	$0.10	$0.01	$0.01	$0.03	$0.02	$0.05	$0.03	$0.04	$0.02	$0.10	$0.12
Weighted Average Basic Shares Outstanding	52.49M	52.84M	53.01M	53.45M	53.21M	53.58M	54.23M	54.80M	54.43M	55.17M	55.86M
Diluted Earnings per Share	$0.10	$0.01	$0.01	$0.03	$0.02	$0.05	$0.02	$0.04	$0.02	$0.09	$0.11
Weighted Average Diluted Shares Outstanding	54.16M	54.76M	55.86M	56.05M	55.59M	55.14M	57.87M	61.77M	59.65M	61.02M	61.98M
Weighted Average Basic & Diluted Shares Outstanding	52.97M	52.98M	53.14M	53.55M	53.75M	54.22M	54.45M	55.04M	55.19M	55.91M	56.46M

This table details how cash moves in and out of Paysign's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-2.50	3.18	5.53	15	14	10	13	21	19	13	43
Net Cash From Operating Activities	-0.72	4.21	7.15	16	17	14	15	25	28	23	52
Net Cash From Continuing Operating Activities	-0.72	4.21	7.15	16	17	14	15	25	28	23	52
Net Income / (Loss) Continuing Operations	-2.41	1.40	1.79	2.59	7.45	-9.14	-2.72	1.03	6.46	3.82	7.55
Consolidated Net Income / (Loss)	-2.41	1.40	1.79	2.59	7.45	-9.14	-2.72	1.03	6.46	3.82	7.55
Depreciation Expense	0.36	0.57	0.88	1.09	1.48	2.12	2.50	2.91	4.03	5.99	8.32
Non-Cash Adjustments To Reconcile Net Income	2.03	-1.01	0.05	1.36	9.29	19	15	2.32	15	22	36
Changes in Operating Assets and Liabilities, net	-0.71	3.24	4.44	11	-1.51	1.95	-0.02	19	2.16	-8.55	0.29
Net Cash From Investing Activities	-0.93	-0.89	-1.52	-1.59	-3.24	-3.34	-2.68	-4.09	-7.05	-9.49	-10
Net Cash From Continuing Investing Activities	-0.93	-0.89	-1.52	-1.59	-3.24	-3.34	-2.68	-4.09	-7.05	-9.49	-10
Purchase of Property, Plant & Equipment	-0.14	-0.11	-0.71	-0.26	-1.96	-3.26	-2.62	-3.91	-7.05	-9.36	-8.01
Acquisitions	-0.79	-0.78	-0.81	-1.34	-1.28	-0.08	-0.06	-0.19	0.00	-0.13	-0.08
Other Investing Activities, net	-	-	-	-	-	-	-	-	-	0.00	-2.00
Net Cash From Financing Activities	-0.85	-0.14	-0.10	0.10	0.43	-0.07	0.19	0.00	-1.12	-0.47	0.28
Net Cash From Continuing Financing Activities	-0.85	-0.14	-0.10	0.00	0.43	-0.07	0.19	0.00	-1.12	-0.47	0.28
Repurchase of Common Equity	-	-	-	-	-	-	-	0.00	-1.13	-0.50	-0.38
Other Financing Activities, net	-	0.00	0.05	-	0.43	-0.07	0.19	0.00	0.01	0.03	0.66
Cash Income Taxes Paid	-	0.00	0.02	0.01	-	0.00	0.00	0.04	0.21	0.14	0.41

This table details how cash moves in and out of Paysign's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	21	5.97	18	-23	12	-11	2.42	4.64	46	15	-3.01
Net Cash From Operating Activities	23	8.24	21	-20	14	-6.03	3.64	6.75	48	19	1.30
Net Cash From Continuing Operating Activities	23	8.24	21	-20	14	-6.03	3.64	6.75	48	19	1.30
Net Income / (Loss) Continuing Operations	5.62	0.31	0.70	1.44	1.37	2.59	1.39	2.22	1.36	5.44	6.76
Consolidated Net Income / (Loss)	5.62	0.31	0.70	1.44	1.37	2.59	1.39	2.22	1.36	5.44	6.76
Depreciation Expense	1.18	1.29	1.44	1.57	1.70	1.80	2.12	2.19	2.21	2.64	2.34
Non-Cash Adjustments To Reconcile Net Income	13	17	-5.42	-1.40	-7.10	-6.35	-1.58	9.87	34	16	-8.66
Changes in Operating Assets and Liabilities, net	4.11	-9.92	24	-22	18	-4.07	1.72	-7.52	10	-5.60	0.86
Net Cash From Investing Activities	-2.05	-2.27	-2.37	-2.45	-2.40	-4.44	-1.81	-2.18	-1.66	-2.08	-1.44
Net Cash From Continuing Investing Activities	-2.05	-2.27	-2.37	-2.45	-2.40	-4.44	-1.81	-2.18	-1.66	-2.08	-1.44
Purchase of Property, Plant & Equipment	-2.05	-2.15	-2.37	-2.45	-2.40	-2.43	-1.80	-2.12	-1.66	-1.68	-1.44
Acquisitions	-	-0.12	-	-	-0.01	-0.01	-0.01	-0.06	0.00	-0.40	-0.01
Net Cash From Financing Activities	-	0.00	0.02	-0.36	-0.13	-0.38	0.59	0.07	-	-2.20	-2.87
Net Cash From Continuing Financing Activities	-	0.00	0.02	-0.36	-0.13	-0.38	0.59	0.07	-	-2.20	-2.87
Repurchase of Common Equity	-	0.00	-	-0.36	-0.13	-0.38	-	-	-	-0.20	0.20
Other Financing Activities, net	-	-	-	0.00	-	0.00	-	0.07	-	-2.00	-3.07
Cash Income Taxes Paid	0.02	0.00	0.07	0.03	0.03	0.00	0.38	0.01	0.02	0.00	1.98

This table presents Paysign's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	10	14	20	36	54	68	84	108	147	179	276
Total Current Assets	8.72	12	18	33	48	58	74	98	129	159	240
Cash & Equivalents	1.39	1.63	2.75	5.62	9.66	7.83	7.39	9.71	17	11	21
Restricted Cash	7.06	10	14	26	36	48	61	80	92	112	144
Accounts Receivable	0.02	0.11	0.17	0.34	0.89	0.51	4.41	6.12	18	34	72
Prepaid Expenses	0.25	0.27	0.58	1.17	1.41	1.38	1.24	1.70	2.02	2.25	1.95
Other Current Assets	-	-	-	-	-	-	-	-	-	-	0.93
Plant, Property, & Equipment, net	0.27	0.30	0.85	0.88	0.94	1.85	1.64	1.26	1.09	1.16	1.90
Total Noncurrent Assets	1.27	1.56	1.64	2.12	4.73	8.02	8.08	9.27	16	19	34
Goodwill	-	-	-	-	-	-	-	-	-	0.00	4.49
Intangible Assets	1.26	1.55	1.64	2.12	3.82	3.70	4.09	5.66	8.81	12	22
Noncurrent Deferred & Refundable Income Taxes	-	-	-	0.01	0.92	-	-	0.00	4.30	4.00	1.73
Other Noncurrent Operating Assets	0.00	0.01	-	-	0.00	4.32	3.99	3.61	3.22	2.79	5.73
Total Liabilities & Shareholders' Equity	10	14	20	36	54	68	84	108	147	179	276
Total Liabilities	9.08	11	16	27	34	55	71	92	122	149	228
Total Current Liabilities	8.74	11	16	27	34	51	67	89	119	146	216
Short-Term Debt	0.17	0.12	-	-	-	-	-	-	-	0.00	1.86
Accounts Payable	0.59	0.77	1.15	1.33	1.52	2.16	5.77	8.09	27	34	71
Current Deferred Revenue	-	-	-	-	33	48	61	80	92	111	143
Other Current Liabilities	0.92	0.25	-	-	0.00	0.32	0.34	0.36	0.38	0.45	0.75
Total Noncurrent Liabilities	0.34	0.03	0.00	0.00	0.00	4.01	3.67	3.31	2.93	2.48	11
Long-Term Debt	0.00	0.03	-	-	-	-	-	-	-	0.00	6.14
Other Noncurrent Operating Liabilities	-	-	-	-	0.00	4.01	3.67	3.31	2.93	2.48	5.27
Commitments & Contingencies	0.00	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1.18	2.70	4.84	8.89	19	13	13	16	24	30	48
Total Preferred & Common Equity	1.27	2.89	5.04	9.10	20	13	13	16	24	30	48
Preferred Stock	-	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1.27	2.89	5.04	9.10	20	13	13	16	24	30	48
Common Stock	6.62	6.84	7.20	8.67	12	14	17	19	22	25	36
Retained Earnings	-5.20	-3.80	-2.01	0.58	8.09	-1.05	-3.77	-2.75	3.71	7.53	15
Treasury Stock	-0.15	-0.15	-0.15	-0.15	-0.15	-0.15	-0.15	-0.15	-1.28	-1.77	-2.15

This table presents Paysign's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	111	173	182	167	205	194	210	313	317
Total Current Assets	99	155	163	147	167	159	171	277	283
Cash & Equivalents	9.94	7.01	31	10	6.85	12	7.53	21	27
Restricted Cash	78	108	102	100	105	102	111	159	149
Accounts Receivable	8.65	37	27	35	53	42	50	94	103
Prepaid Expenses	2.25	2.36	2.47	2.40	2.38	2.41	2.46	3.27	3.03
Other Current Assets	-	-	-	-	-	-	-	0.35	0.35
Plant, Property, & Equipment, net	1.15	1.05	1.11	1.14	1.13	1.12	1.45	2.01	1.95
Total Noncurrent Assets	11	17	18	18	37	34	37	33	32
Goodwill	-	-	-	-	5.51	4.49	4.49	4.49	4.49
Intangible Assets	7.88	9.84	11	12	25	24	23	22	21
Noncurrent Deferred & Refundable Income Taxes	-	4.22	4.08	3.87	3.48	3.33	2.99	1.68	1.38
Other Noncurrent Operating Assets	3.32	3.11	3.01	2.90	2.68	2.57	5.94	5.52	5.31
Total Liabilities & Shareholders' Equity	111	173	182	167	205	194	210	313	317
Total Liabilities	93	148	155	138	166	152	164	258	257
Total Current Liabilities	90	145	153	136	156	143	152	248	248
Short-Term Debt	-	-	-	-	2.00	1.60	1.73	1.59	1.69
Accounts Payable	12	36	50	35	49	39	39	88	98
Current Deferred Revenue	78	108	102	100	104	102	110	158	148
Other Current Liabilities	0.38	0.39	0.40	0.42	0.47	0.49	0.58	0.87	0.89
Total Noncurrent Liabilities	3.03	2.83	2.72	2.60	10	8.37	12	9.60	8.38
Long-Term Debt	-	-	-	-	7.81	6.14	6.14	4.55	3.56
Other Noncurrent Operating Liabilities	3.03	2.83	2.72	2.60	2.36	2.23	5.50	5.05	4.82
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	18	25	27	29	39	42	46	55	60
Total Preferred & Common Equity	18	25	27	29	39	42	46	55	60
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	18	25	27	29	39	42	46	55	60
Common Stock	21	23	23	24	31	33	34	37	38
Retained Earnings	-1.91	4.02	4.72	6.16	10	12	14	21	27
Treasury Stock	-1.28	-1.28	-1.28	-1.64	-2.15	-2.15	-2.15	-2.35	-5.34

This table displays calculated financial ratios and metrics derived from Paysign's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	42,510,765.00	42,948,265.00	43,660,765.00	44,100,765.00	47,923,762.00	49,844,457.00	51,691,932.00	52,246,932.00	52,754,374.00	-	55,042,888.00
DEI Adjusted Shares Outstanding	42,510,765.00	42,948,265.00	43,660,765.00	44,100,765.00	47,923,762.00	49,844,457.00	51,691,932.00	52,246,932.00	52,754,374.00	-	55,042,888.00
DEI Earnings Per Adjusted Shares Outstanding	-0.06	0.03	0.04	0.06	0.16	-0.18	-0.05	0.02	0.12	-	0.14
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-21.23%	28.48%	46.25%	53.76%	48.00%	-30.42%	22.16%	29.08%	24.30%	23.50%	40.50%
EBITDA Growth	-173.64%	190.46%	36.63%	32.73%	114.80%	-181.92%	96.11%	1,447.31%	18.60%	81.81%	123.50%
EBIT Growth	-191.41%	154.66%	29.78%	36.85%	149.91%	-236.65%	67.15%	112.57%	-148.57%	710.75%	620.78%
NOPAT Growth	-100.23%	21,976.35%	29.68%	40.34%	181.09%	-183.98%	67.15%	116.26%	-246.60%	306.12%	488.32%
Net Income Growth	-197.68%	150.90%	37.61%	44.55%	188.73%	-222.66%	70.23%	137.77%	528.42%	-40.92%	97.90%
EPS Growth	-100.00%	0.00%	33.33%	25.00%	180.00%	0.00%	0.00%	140.00%	500.00%	-41.67%	85.71%
Operating Cash Flow Growth	-123.34%	684.47%	70.07%	123.67%	4.48%	-17.57%	10.54%	66.26%	9.10%	-16.92%	128.57%
Free Cash Flow Firm Growth	-122.19%	489.85%	74.05%	143.88%	-19.19%	2.73%	1.85%	66.83%	-40.75%	-26.13%	177.33%
Invested Capital Growth	9.84%	-23.76%	-40.27%	-84.82%	-15.34%	-63.06%	-29.99%	-32.18%	-15.30%	-8.29%	-18.05%
Revenue Q/Q Growth	-25.54%	9.26%	11.46%	10.64%	9.13%	-9.43%	5.41%	5.12%	6.95%	3.39%	9.55%
EBITDA Q/Q Growth	-173.17%	22.05%	1.69%	4.81%	15.01%	-46.39%	77.72%	11.30%	22.84%	5.37%	13.74%
EBIT Q/Q Growth	-194.67%	31.43%	3.44%	0.15%	16.49%	-33.92%	21.75%	159.43%	65.50%	-14.10%	23.27%
NOPAT Q/Q Growth	-100.23%	31.12%	2.69%	1.30%	20.81%	-33.92%	21.75%	175.59%	-6.89%	-58.11%	7.67%
Net Income Q/Q Growth	-5,866.84%	34.19%	4.34%	2.62%	20.05%	-210.24%	61.86%	146.21%	316.85%	-52.69%	-0.14%
EPS Q/Q Growth	-100.00%	200.00%	0.00%	0.00%	27.27%	0.00%	0.00%	0.00%	300.00%	-53.33%	0.00%
Operating Cash Flow Q/Q Growth	-122.11%	185.53%	19.83%	37.09%	-7.89%	-25.51%	-11.61%	-16.03%	1,996.66%	-28.46%	180.89%
Free Cash Flow Firm Q/Q Growth	-115.29%	3,121.96%	29.89%	38.68%	-21.46%	9.26%	-33.90%	-25.35%	184.71%	-45.04%	284.62%
Invested Capital Q/Q Growth	19.28%	-11.87%	-20.61%	-33.22%	-6.61%	-10.34%	3.67%	10.36%	-21.60%	-11.99%	-67.10%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	50.42%	43.56%	43.98%	48.66%	55.50%	38.57%	49.93%	55.09%	51.06%	55.15%	59.39%
EBITDA Margin	-26.55%	18.69%	17.46%	15.07%	21.88%	-25.76%	-0.82%	8.56%	8.16%	12.02%	19.12%
Operating Margin	-0.11%	13.04%	11.60%	10.56%	17.60%	-34.57%	-9.30%	0.91%	-0.35%	1.75%	8.98%
EBIT Margin	-31.02%	13.20%	11.71%	10.42%	17.60%	-34.57%	-9.30%	0.91%	-0.35%	1.75%	8.98%
Profit (Net Income) Margin	-31.45%	12.46%	11.72%	11.02%	21.50%	-37.90%	-9.24%	2.70%	13.66%	6.54%	9.21%
Tax Burden Percent	100.00%	100.00%	99.67%	100.00%	113.91%	110.84%	100.38%	90.53%	273.23%	92.21%	75.27%
Interest Burden Percent	101.37%	94.39%	100.43%	105.72%	107.23%	98.91%	98.97%	329.69%	-1,413.30%	405.11%	136.27%
Effective Tax Rate	0.00%	0.00%	0.33%	0.00%	-13.91%	0.00%	0.00%	9.47%	-173.23%	7.79%	24.73%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-128.79%	66.95%	47.38%	37.60%	52.87%	-56.19%	-20.75%	7.02%	31.68%	13.89%	19.13%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-21.66%	11.39%	10.41%	8.63%	13.60%	-13.74%	-3.61%	0.36%	-0.13%	0.63%	3.23%
Return on Assets (ROA)	-21.96%	10.75%	10.42%	9.12%	16.61%	-15.06%	-3.58%	1.07%	5.07%	2.34%	3.32%
Return on Common Equity (ROCE)	-130.22%	71.89%	49.86%	38.71%	53.76%	-56.65%	-20.75%	7.02%	31.68%	13.89%	19.13%
Return on Equity Simple (ROE_SIMPLE)	-200.50%	44.88%	35.42%	28.38%	38.09%	-69.07%	-20.95%	6.31%	26.38%	12.54%	0.00%
Net Operating Profit after Tax (NOPAT)	-0.01	1.36	1.76	2.47	6.95	-5.84	-1.92	0.31	-0.46	0.94	5.54
NOPAT Margin	-0.08%	13.04%	11.57%	10.56%	20.05%	-24.20%	-6.51%	0.82%	-0.97%	1.61%	6.76%
Net Nonoperating Expense Percent (NNEP)	-26.87%	-0.62%	0.17%	0.44%	1.30%	-6.50%	-1.29%	0.90%	6.94%	2.48%	1.44%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-1.87%	3.09%	9.81%
Cost of Revenue to Revenue	49.58%	56.44%	56.02%	51.34%	44.50%	61.43%	50.07%	44.91%	48.94%	44.85%	40.61%
SG&A Expenses to Revenue	46.06%	25.02%	26.62%	33.45%	33.63%	62.57%	50.75%	46.54%	42.89%	43.13%	40.27%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	50.53%	30.52%	32.37%	38.10%	37.90%	73.14%	59.23%	54.19%	51.41%	53.40%	50.41%
Earnings before Interest and Taxes (EBIT)	-2.52	1.37	1.78	2.44	6.10	-8.34	-2.74	0.34	-0.17	1.02	7.36
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-2.15	1.95	2.66	3.53	7.58	-6.21	-0.24	3.25	3.86	7.02	16
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.02	3.57	2.08	17.07	24.86	17.47	6.37	8.27	6.03	5.31	5.85
Price to Tangible Book Value (P/TBV)	1,368.37	7.68	3.08	22.24	30.89	24.25	9.29	12.67	9.42	8.88	13.09
Price to Revenue (P/Rev)	1.26	0.99	0.69	6.63	14.03	9.59	2.81	3.54	3.12	2.77	3.46
Price to Earnings (P/E)	0.00	7.36	5.85	59.98	65.25	0.00	0.00	131.15	22.87	42.38	37.54
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	13.59%	17.09%	1.67%	1.53%	0.00%	0.00%	0.76%	4.37%	2.36%	2.66%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.23	0.00	0.00	5.27	12.71	7.27	0.48	1.18	0.81	0.67	1.54
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	34.94	58.09	0.00	0.00	13.80	9.94	5.61	8.07
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	50.53	72.21	0.00	0.00	130.40	0.00	38.54	17.18
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	49.89	63.39	0.00	0.00	144.03	0.00	41.80	22.83
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	7.71	26.36	12.73	0.92	1.77	1.39	1.72	2.41
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	9.54	42.18	16.34	1.28	2.46	3.55	4.93	5.72
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.15	0.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.17
Long-Term Debt to Equity	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.13
Financial Leverage	-4.78	-5.10	-3.80	-3.56	-2.74	-3.12	-4.76	-5.42	-4.89	-4.22	-3.54
Leverage Ratio	5.87	6.23	4.55	4.12	3.18	3.73	5.79	6.57	6.25	5.93	5.77
Compound Leverage Factor	5.95	5.88	4.57	4.36	3.41	3.69	5.73	21.65	-88.32	24.02	7.86
Debt to Total Capital	12.86%	5.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	14.17%
Short-Term Debt to Total Capital	12.86%	4.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.30%
Long-Term Debt to Total Capital	0.00%	0.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.87%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	-6.76%	-6.83%	-4.13%	-2.33%	-1.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	93.90%	101.50%	104.13%	102.33%	101.36%	100.00%	100.00%	100.00%	100.00%	100.00%	85.83%
Debt to EBITDA	-0.08	0.08	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.51
Net Debt to EBITDA	3.85	-5.90	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-10.01
Long-Term Debt to EBITDA	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.39
Debt to NOPAT	-28.03	0.11	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.44
Net Debt to NOPAT	1,333.14	-8.45	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-28.33
Long-Term Debt to NOPAT	0.00	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.11
Altman Z-Score	-0.06	1.32	1.44	4.50	10.06	2.60	0.98	1.31	1.16	1.14	1.31
Noncontrolling Interest Sharing Ratio	-1.11%	-7.38%	-5.24%	-2.96%	-1.67%	-0.81%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.00	1.08	1.15	1.22	1.40	1.15	1.10	1.10	1.08	1.09	1.11
Quick Ratio	0.16	0.16	0.19	0.22	0.31	0.16	0.18	0.18	0.29	0.31	0.43
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-0.78	3.05	5.30	13	10	11	11	18	11	7.98	22
Operating Cash Flow to CapEx	-520.13%	3,827.68%	1,011.24%	6,222.61%	854.41%	422.11%	581.84%	648.07%	391.86%	245.13%	654.75%
Free Cash Flow to Firm to Interest Expense	-22.74	39.49	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-20.95	54.54	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-24.98	53.11	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.70	0.86	0.89	0.83	0.77	0.40	0.39	0.40	0.37	0.36	0.36
Accounts Receivable Turnover	156.82	164.03	110.48	93.17	56.40	34.36	11.96	7.22	3.95	2.24	1.54
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	33.86	36.38	26.38	26.96	38.08	17.31	16.87	26.25	40.32	51.95	53.69
Accounts Payable Turnover	4.12	8.67	8.93	9.73	10.82	8.04	3.72	2.47	1.34	0.86	0.64
Days Sales Outstanding (DSO)	2.33	2.23	3.30	3.92	6.47	10.62	30.51	50.54	92.38	162.71	236.81
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	88.60	42.12	40.86	37.52	33.73	45.40	98.07	148.04	272.96	424.05	574.56
Cash Conversion Cycle (CCC)	-86.28	-39.89	-37.55	-33.60	-27.26	-34.78	-67.56	-97.50	-180.58	-261.34	-337.75
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-7.10	-8.79	-12	-23	-26	-43	-56	-74	-85	-92	-108
Invested Capital Turnover	-1.08	-1.31	-1.44	-1.33	-1.41	-0.70	-0.60	-0.59	-0.60	-0.66	-0.82
Increase / (Decrease) in Invested Capital	0.77	-1.69	-3.54	-10	-3.49	-17	-13	-18	-11	-7.04	-17
Enterprise Value (EV)	1.83	-1.37	-6.89	123	441	175	14	45	38	39	126
Market Capitalization	10	10	10	155	486	231	83	135	148	162	283
Book Value per Share	$0.03	$0.07	$0.12	$0.21	$0.41	$0.27	$0.25	$0.31	$0.46	$0.57	$0.88
Tangible Book Value per Share	$0.00	$0.03	$0.08	$0.16	$0.33	$0.19	$0.17	$0.20	$0.30	$0.34	$0.39
Total Capital	1.35	2.85	4.84	8.89	19	13	13	16	24	30	56
Total Debt	0.17	0.15	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.00
Total Long-Term Debt	0.00	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	6.14
Net Debt	-8.28	-11	-17	-32	-46	-56	-69	-90	-109	-122	-157
Capital Expenditures (CapEx)	0.14	0.11	0.71	0.26	1.96	3.26	2.62	3.91	7.05	9.36	8.01
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-8.30	-11	-15	-26	-32	-49	-62	-81	-99	-110	-139
Debt-free Net Working Capital (DFNWC)	0.15	0.99	2.35	5.88	14	7.38	6.94	9.08	10.00	13	26
Net Working Capital (NWC)	-0.02	0.87	2.35	5.88	14	7.38	6.94	9.08	10.00	13	24
Net Nonoperating Expense (NNE)	2.54	0.06	-0.02	-0.11	-0.50	3.30	0.80	-0.72	-6.92	-2.87	-2.01
Net Nonoperating Obligations (NNO)	-8.28	-11	-17	-32	-46	-56	-69	-90	-109	-122	-157
Total Depreciation and Amortization (D&A)	0.36	0.57	0.88	1.09	1.48	2.12	2.50	2.91	4.03	5.99	8.32
Debt-free, Cash-free Net Working Capital to Revenue	-102.37%	-102.16%	-97.27%	-110.07%	-92.14%	-201.30%	-209.52%	-212.49%	-210.17%	-187.74%	-169.96%
Debt-free Net Working Capital to Revenue	1.90%	9.53%	15.41%	25.11%	39.32%	30.58%	23.54%	23.87%	21.15%	21.80%	31.17%
Net Working Capital to Revenue	-0.25%	8.33%	15.41%	25.11%	39.32%	30.58%	23.54%	23.87%	21.15%	21.80%	28.90%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.06)	$0.03	$0.04	$0.06	$0.16	($0.19)	($0.05)	$0.02	$0.12	$0.07	$0.14
Adjusted Weighted Average Basic Shares Outstanding	39.64M	42.88M	43.40M	45.48M	47.44M	49.27M	50.98M	52.05M	52.49M	53.21M	54.43M
Adjusted Diluted Earnings per Share	$0.00	$0.03	$0.04	$0.05	$0.14	($0.19)	($0.05)	$0.02	$0.12	$0.07	$0.13
Adjusted Weighted Average Diluted Shares Outstanding	0.00	43.87M	44.93M	52.35M	54.55M	49.27M	50.98M	52.93M	54.16M	55.59M	59.65M
Adjusted Basic & Diluted Earnings per Share	($0.06)	$0.03	$0.04	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	42.77M	43.19M	43.67M	46.73M	49.01M	50.45M	51.86M	52.46M	52.97M	53.75M	55.19M
Normalized Net Operating Profit after Tax (NOPAT)	-0.01	0.95	1.76	1.73	4.27	-5.57	-1.92	0.31	-0.12	0.94	5.54
Normalized NOPAT Margin	-0.08%	9.13%	11.57%	7.39%	12.32%	-23.09%	-6.51%	0.82%	-0.25%	1.61%	6.76%
Pre Tax Income Margin	-31.45%	12.46%	11.76%	11.02%	18.87%	-34.19%	-9.20%	2.98%	5.00%	7.09%	12.23%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-73.23	17.83	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-0.18	17.62	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-77.26	16.40	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-4.21	16.19	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	17.46%	12.97%	4.98%

This table displays calculated financial ratios and metrics derived from Paysign's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	52,754,374.00	52,968,374.00	52,978,374.00	53,138,374.00	-	53,747,674.00	54,217,674.00	54,451,888.00	55,042,888.00	55,185,394.00	55,905,773.00
DEI Adjusted Shares Outstanding	52,754,374.00	52,968,374.00	52,978,374.00	53,138,374.00	-	53,747,674.00	54,217,674.00	54,451,888.00	55,042,888.00	55,185,394.00	55,905,773.00
DEI Earnings Per Adjusted Shares Outstanding	0.11	0.01	0.01	0.03	-	0.05	0.03	0.04	0.02	0.10	0.12
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	28.93%	30.04%	29.80%	23.03%	14.00%	41.00%	33.12%	41.56%	45.81%	50.76%	48.08%
EBITDA Growth	65.65%	905.74%	403.13%	37.90%	19.74%	317.30%	127.29%	67.25%	87.37%	116.88%	162.83%
EBIT Growth	100.95%	65.22%	119.43%	16.84%	-26.53%	1,063.44%	1,043.89%	129.32%	299.33%	167.90%	387.68%
NOPAT Growth	778.51%	67.53%	120.60%	23.39%	-80.22%	1,272.68%	946.80%	134.66%	96.39%	145.26%	513.56%
Net Income Growth	688.45%	293.03%	769.29%	30.55%	-75.58%	736.67%	99.08%	54.17%	-0.75%	110.31%	386.87%
EPS Growth	900.00%	0.00%	0.00%	50.00%	-80.00%	400.00%	100.00%	33.33%	0.00%	80.00%	450.00%
Operating Cash Flow Growth	515.88%	155.20%	767.44%	-600.48%	-38.94%	-173.18%	-82.28%	133.49%	235.99%	411.37%	-64.42%
Free Cash Flow Firm Growth	-23.88%	4.62%	4,179.23%	209.74%	-45.53%	-270.12%	-212.05%	-220.41%	133.03%	338.63%	227.23%
Invested Capital Growth	-15.30%	-20.27%	-53.44%	-17.58%	-8.29%	30.55%	40.04%	20.88%	-18.05%	-89.63%	-73.64%
Revenue Q/Q Growth	10.40%	-3.65%	8.65%	6.45%	2.29%	19.17%	2.58%	13.20%	5.37%	23.22%	0.76%
EBITDA Q/Q Growth	10.69%	-43.21%	52.26%	44.09%	-3.89%	97.91%	-17.07%	6.03%	7.66%	129.09%	0.50%
EBIT Q/Q Growth	7.04%	-140.88%	148.65%	448.91%	-32.69%	436.05%	-42.24%	10.04%	17.21%	259.62%	5.14%
NOPAT Q/Q Growth	383.84%	-106.47%	155.26%	612.75%	-22.42%	283.75%	-50.67%	59.78%	-35.07%	379.23%	23.41%
Net Income Q/Q Growth	410.85%	-94.50%	125.53%	106.12%	-4.45%	88.37%	-46.34%	59.62%	-38.49%	299.15%	24.23%
EPS Q/Q Growth	400.00%	-90.00%	0.00%	200.00%	-33.33%	150.00%	-60.00%	100.00%	-50.00%	350.00%	22.22%
Operating Cash Flow Q/Q Growth	481.84%	-64.83%	149.28%	-198.11%	170.99%	-142.15%	160.35%	85.46%	612.20%	-60.94%	-93.10%
Free Cash Flow Firm Q/Q Growth	217.65%	7.99%	148.73%	-65.27%	-41.60%	-437.24%	-63.83%	62.68%	213.02%	245.35%	-12.65%
Invested Capital Q/Q Growth	-21.60%	-5.89%	-18.72%	23.08%	-11.99%	32.09%	-2.50%	-1.50%	-67.10%	-9.08%	6.14%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	52.16%	52.61%	52.93%	55.54%	58.94%	62.86%	61.62%	56.26%	57.66%	64.98%	63.35%
EBITDA Margin	13.22%	7.79%	10.92%	14.78%	13.89%	23.07%	18.65%	17.47%	17.85%	33.18%	33.10%
Operating Margin	4.62%	-1.96%	0.88%	4.52%	2.98%	13.38%	7.54%	7.33%	8.15%	23.78%	24.82%
EBIT Margin	4.62%	-1.96%	0.88%	4.52%	2.98%	13.38%	7.54%	7.33%	8.15%	23.78%	24.82%
Profit (Net Income) Margin	41.07%	2.34%	4.86%	9.42%	8.80%	13.91%	7.27%	10.26%	5.99%	19.40%	23.92%
Tax Burden Percent	412.60%	65.35%	74.24%	96.40%	111.11%	79.54%	67.94%	98.64%	54.64%	72.82%	85.47%
Interest Burden Percent	215.62%	-183.08%	747.18%	216.07%	266.10%	130.62%	142.10%	141.95%	134.48%	112.01%	112.75%
Effective Tax Rate	-312.60%	34.65%	25.76%	3.60%	-11.11%	20.46%	32.06%	1.36%	45.36%	27.18%	14.53%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	31.68%	33.35%	35.65%	34.56%	13.89%	18.82%	19.65%	20.36%	19.13%	22.07%	30.82%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	1.71%	-0.68%	0.32%	1.84%	1.07%	4.52%	2.75%	2.91%	2.94%	8.40%	9.78%
Return on Assets (ROA)	15.24%	0.82%	1.79%	3.82%	3.15%	4.69%	2.65%	4.08%	2.16%	6.85%	9.42%
Return on Common Equity (ROCE)	31.68%	33.35%	35.65%	34.56%	13.89%	18.82%	19.65%	20.36%	19.13%	22.07%	30.82%
Return on Equity Simple (ROE_SIMPLE)	0.00%	27.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	2.61	-0.17	0.09	0.66	0.52	1.98	0.98	1.56	1.01	4.86	5.99
NOPAT Margin	19.05%	-1.28%	0.65%	4.36%	3.31%	10.65%	5.12%	7.23%	4.45%	17.32%	21.21%
Net Nonoperating Expense Percent (NNEP)	3.03%	0.46%	0.55%	0.78%	0.74%	0.56%	0.34%	0.59%	0.25%	0.42%	0.55%
Return On Investment Capital (ROIC_SIMPLE)	10.65%	-0.66%	0.35%	2.33%	1.69%	4.03%	1.96%	2.91%	1.79%	7.94%	9.16%
Cost of Revenue to Revenue	47.84%	47.39%	47.07%	44.46%	41.06%	37.14%	38.38%	43.74%	42.34%	35.02%	36.65%
SG&A Expenses to Revenue	38.94%	44.82%	42.01%	40.76%	45.05%	39.79%	42.97%	38.79%	39.81%	31.79%	30.25%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	47.54%	54.57%	52.05%	51.02%	55.97%	49.48%	54.08%	48.94%	49.51%	41.20%	38.53%
Earnings before Interest and Taxes (EBIT)	0.63	-0.26	0.13	0.69	0.46	2.49	1.44	1.58	1.85	6.67	7.01
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1.81	1.03	1.57	2.26	2.17	4.29	3.56	3.77	4.06	9.30	9.35
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.03	7.61	8.50	6.84	5.31	2.90	9.25	7.49	5.85	5.92	7.61
Price to Tangible Book Value (P/TBV)	9.42	12.41	14.15	11.51	8.88	13.23	27.81	19.10	13.09	11.29	13.15
Price to Revenue (P/Rev)	3.12	3.85	4.26	3.45	2.77	1.79	5.70	4.57	3.46	3.56	4.55
Price to Earnings (P/E)	22.87	27.98	29.54	24.18	42.38	18.70	57.55	45.29	37.54	31.29	29.03
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.37%	3.57%	3.39%	4.14%	2.36%	5.35%	1.74%	2.21%	2.66%	3.20%	3.44%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.81	1.56	1.77	1.50	0.67	0.19	4.15	3.10	1.54	1.66	2.85
Enterprise Value to EBITDA (EV/EBITDA)	9.94	16.41	15.70	12.68	5.61	1.19	23.16	16.81	8.07	7.36	10.82
Enterprise Value to EBIT (EV/EBIT)	0.00	247.62	87.00	71.02	38.54	3.25	55.93	38.81	17.18	13.19	16.75
Enterprise Value to NOPAT (EV/NOPAT)	0.00	107.06	44.80	37.56	41.80	3.69	66.13	45.04	22.83	18.07	21.36
Enterprise Value to Operating Cash Flow (EV/OCF)	1.39	2.41	1.68	2.63	1.72	1.41	0.00	12.41	2.41	1.97	3.83
Enterprise Value to Free Cash Flow (EV/FCFF)	3.55	4.95	2.41	5.82	4.93	0.00	0.00	0.00	5.72	2.37	4.74
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.25	0.18	0.17	0.17	0.11	0.09
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.20	0.15	0.13	0.13	0.08	0.06
Financial Leverage	-4.89	-4.96	-5.06	-4.25	-4.22	-3.35	-3.47	-2.98	-3.54	-2.92	-2.71
Leverage Ratio	6.25	6.94	6.71	5.96	5.93	5.84	5.45	5.07	5.77	5.49	4.99
Compound Leverage Factor	13.47	-12.71	50.17	12.88	15.78	7.63	7.74	7.20	7.76	6.15	5.63
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	19.98%	15.49%	14.67%	14.17%	10.04%	8.03%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	4.07%	3.20%	3.22%	3.30%	2.59%	2.58%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	15.91%	12.29%	11.45%	10.87%	7.45%	5.45%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	80.02%	84.51%	85.33%	85.83%	89.96%	91.97%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.95	0.63	0.57	0.51	0.30	0.20
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	-9.89	-8.65	-8.03	-10.01	-8.38	-6.46
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.76	0.50	0.45	0.39	0.22	0.13
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	2.95	1.80	1.53	1.44	0.73	0.39
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	-30.63	-24.71	-21.50	-28.33	-20.57	-12.76
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	2.35	1.43	1.19	1.11	0.54	0.27
Altman Z-Score	1.18	1.18	1.28	1.33	1.13	0.90	2.10	1.84	1.25	1.33	1.71
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.08	1.07	1.07	1.09	1.09	1.07	1.11	1.13	1.11	1.12	1.14
Quick Ratio	0.29	0.30	0.38	0.33	0.31	0.39	0.38	0.38	0.43	0.46	0.53
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	14	15	37	13	7.55	-25	-42	-16	18	61	53
Operating Cash Flow to CapEx	1,144.17%	383.38%	868.29%	-823.70%	597.42%	-247.92%	202.35%	318.50%	2,900.75%	1,121.31%	90.23%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.37	0.35	0.37	0.41	0.36	0.34	0.36	0.40	0.36	0.35	0.39
Accounts Receivable Turnover	3.95	2.10	2.95	2.62	2.24	1.41	1.96	1.77	1.54	1.24	1.38
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	40.32	44.89	48.04	49.36	51.95	58.40	61.57	57.82	53.69	58.22	65.64
Accounts Payable Turnover	1.34	1.02	0.84	1.12	0.86	0.63	0.61	0.80	0.64	0.53	0.57
Days Sales Outstanding (DSO)	92.38	173.45	123.87	139.57	162.71	258.53	185.81	206.75	236.81	294.36	263.93
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	272.96	356.31	432.77	325.51	424.05	578.21	597.21	453.71	574.56	687.48	637.63
Cash Conversion Cycle (CCC)	-180.58	-182.85	-308.90	-185.94	-261.34	-319.68	-411.40	-246.96	-337.75	-393.12	-373.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-85	-90	-107	-82	-92	-62	-64	-65	-108	-118	-111
Invested Capital Turnover	-0.60	-0.61	-0.61	-0.74	-0.66	-0.84	-0.80	-1.02	-0.82	-1.01	-1.15
Increase / (Decrease) in Invested Capital	-11	-15	-37	-12	-7.04	27	43	17	-17	-56	-47
Enterprise Value (EV)	38	79	95	84	39	12	284	232	126	152	287
Market Capitalization	148	194	228	195	162	114	390	343	283	326	458
Book Value per Share	$0.46	$0.48	$0.51	$0.54	$0.57	$0.73	$0.78	$0.84	$0.88	$1.00	$1.08
Tangible Book Value per Share	$0.30	$0.29	$0.30	$0.32	$0.34	$0.16	$0.26	$0.33	$0.39	$0.52	$0.62
Total Capital	24	25	27	29	30	49	50	54	56	61	65
Total Debt	0.00	0.00	0.00	0.00	0.00	9.81	7.74	7.87	8.00	6.14	5.25
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	7.81	6.14	6.14	6.14	4.55	3.56
Net Debt	-109	-115	-134	-111	-122	-102	-106	-111	-157	-173	-171
Capital Expenditures (CapEx)	2.05	2.15	2.37	2.45	2.40	2.43	1.80	2.12	1.66	1.68	1.44
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-99	-105	-123	-99	-110	-98	-97	-98	-139	-149	-140
Debt-free Net Working Capital (DFNWC)	10.00	10	11	12	13	13	17	21	26	31	36
Net Working Capital (NWC)	10.00	10	11	12	13	11	15	19	24	29	35
Net Nonoperating Expense (NNE)	-3.01	-0.48	-0.60	-0.77	-0.86	-0.61	-0.41	-0.65	-0.35	-0.58	-0.76
Net Nonoperating Obligations (NNO)	-109	-115	-134	-111	-122	-102	-106	-111	-157	-173	-171
Total Depreciation and Amortization (D&A)	1.18	1.29	1.44	1.57	1.70	1.80	2.12	2.19	2.21	2.64	2.34
Debt-free, Cash-free Net Working Capital to Revenue	-210.17%	-209.18%	-229.17%	-175.20%	-187.74%	-153.65%	-141.41%	-130.39%	-169.96%	-162.53%	-139.32%
Debt-free Net Working Capital to Revenue	21.15%	20.00%	19.91%	20.60%	21.80%	21.12%	24.79%	27.93%	31.17%	33.71%	36.03%
Net Working Capital to Revenue	21.15%	20.00%	19.91%	20.60%	21.80%	17.99%	22.46%	25.63%	28.90%	31.97%	34.36%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.10	$0.01	$0.01	$0.03	$0.02	$0.05	$0.03	$0.04	$0.02	$0.10	$0.12
Adjusted Weighted Average Basic Shares Outstanding	52.49M	52.84M	53.01M	53.45M	53.21M	53.58M	54.23M	54.80M	54.43M	55.17M	55.86M
Adjusted Diluted Earnings per Share	$0.10	$0.01	$0.01	$0.03	$0.02	$0.05	$0.02	$0.04	$0.02	$0.09	$0.11
Adjusted Weighted Average Diluted Shares Outstanding	54.16M	54.76M	55.86M	56.05M	55.59M	55.14M	57.87M	61.77M	59.65M	61.02M	61.98M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	52.97M	52.98M	53.14M	53.55M	53.75M	54.22M	54.45M	55.04M	55.19M	55.91M	56.46M
Normalized Net Operating Profit after Tax (NOPAT)	0.44	-0.17	0.09	0.66	0.33	1.98	0.98	1.56	1.01	4.86	5.99
Normalized NOPAT Margin	3.23%	-1.28%	0.65%	4.36%	2.08%	10.65%	5.12%	7.23%	4.45%	17.32%	21.21%
Pre Tax Income Margin	9.95%	3.59%	6.55%	9.77%	7.92%	17.48%	10.71%	10.40%	10.96%	26.64%	27.98%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	17.46%	6.67%	1.94%	4.47%	12.97%	14.29%	12.84%	6.75%	4.98%	1.92%	0.00%

Financials Breakdown Chart

Key Financial Trends

Paysign’s financial performance has strengthened significantly since 2023. Quarterly revenue increased from $12.4 million in Q3 2023 to $28.3 million in Q2 2026. On a year-over-year basis, Q2 2026 revenue rose approximately 48% from $19.1 million in Q2 2025. Revenue also edged higher from $28.0 million in Q1 2026, indicating continued momentum, although the sequential increase was modest.

Profitability has improved even more rapidly than revenue. Q2 2026 gross profit was $17.9 million, producing a gross margin of approximately 63.3%, compared with 61.6% in Q2 2025. Operating income increased to $7.0 million from $1.4 million a year earlier, lifting the operating margin to approximately 24.8%. Net income rose to $6.8 million, compared with $1.4 million in Q2 2025. This continues a broader improvement from the sub-$1 million quarterly earnings reported in several 2024 periods.

However, cash-flow performance was less consistent. Paysign generated $1.3 million of operating cash flow in Q2 2026, down from $3.6 million in Q2 2025 and $18.8 million in Q1 2026. The company still produced positive operating cash flow, but the gap between reported net income and operating cash flow in the latest quarter highlights the importance of monitoring working-capital movements and noncash adjustments.

The balance sheet remains relatively liquid, though much of the liquidity is restricted. At June 30, 2026, Paysign reported $27.4 million of cash and equivalents and $149.1 million of restricted cash. Total current assets were $283.0 million versus $248.4 million of current liabilities, implying a current ratio of approximately 1.14. Total debt was only about $5.3 million, while shareholders’ equity increased to $60.2 million from $42.2 million in Q2 2025.

Investors should also note the company’s unusual liability structure. Current deferred revenue reached $148.2 million and accounts payable totaled $97.7 million in Q2 2026. These balances support liquidity today, but they also represent obligations that must be converted into services or settled as the business grows. Accounts receivable increased to $103.2 million, making collections and working-capital management important factors for future cash generation.

Strong revenue growth: Q2 2026 revenue increased approximately 48% year over year and more than doubled from Q3 2023 levels.
Expanding margins: Gross margin improved to approximately 63.3%, while operating margin expanded to about 24.8% in Q2 2026.
Higher earnings: Q2 2026 net income of $6.8 million was substantially above the $1.4 million reported in Q2 2025, with diluted EPS increasing to $0.11 from $0.02.
Low leverage: Total short- and long-term debt was approximately $5.3 million against more than $316.9 million of total assets.
Improved equity position: Shareholders’ equity increased approximately 43% year over year to $60.2 million, supported by rising retained earnings.
Positive but volatile operating cash flow: Paysign generated operating cash flow in each reported 2025 and 2026 quarter, but quarterly results ranged from $1.3 million to $48.1 million.
Meaningful investment spending: Capital expenditures were approximately $1.4 million in Q2 2026 and have generally remained near $1.7 million to $2.4 million per quarter.
Restricted liquidity: Approximately $149.1 million of the company’s $176.5 million in cash and restricted cash was classified as restricted, limiting its immediate flexibility.
Working-capital exposure: Accounts receivable rose to $103.2 million, while current deferred revenue and accounts payable together exceeded $245 million.
Share dilution remains a concern: Basic weighted-average shares increased to 55.9 million in Q2 2026 from 53.2 million in Q2 2024, while diluted shares were approximately 62.0 million in the latest quarter.

Overall, Paysign’s income statement shows a favorable multi-year trend of accelerating revenue, expanding margins and stronger earnings. The main questions for investors are whether the company can convert those profits into more consistent operating cash flow, reduce its reliance on restricted funds and manage its growing receivables and deferred-revenue obligations without further share dilution.

10/15/26 04:30 PM ETAI Generated. May Contain Errors.

Paysign Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Paysign's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Paysign's net income appears to be on an upward trend, with a most recent value of $7.55 million in 2025, compared with -$2.55 million in 2015. The previous period was $3.82 million in 2024. View Paysign's forecast to see where analysts expect Paysign to go next.

Paysign's total operating income in 2025 was $7.36 million, based on the following breakdown:

Total Gross Profit: $48.72 million
Total Operating Expenses: $41.35 million

Over the last 10 years, Paysign's total revenue changed from $8.11 million in 2015 to $82.03 million in 2025, a change of 911.8%.

In the past 11 quarters, Paysign's cash and equivalents has ranged from $6.85 million in Q1 2025 to $31.29 million in Q2 2024, and is currently $27.37 million as of their latest financial filing in Q2 2026.

Paysign had total debt of $8.00 million at the end of 2025, compared with none in 2024, and a 4,497.3% increase since 2015.

Over the last 10 years, Paysign's book value per share changed from 0.03 in 2015 to 0.88 in 2025, a change of 2,846.5%.

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Financial statements for NASDAQ:PAYS last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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