Paysign Inc Financials
This page shows Paysign Inc (PAYS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Paysign’s cash conversion is driven less by earnings than by operating liabilities that scale with growth.
By FY2025, operating cash flow reached$52.5M while net income was only$7.6M , extending a pattern visible since FY2021 in which cash generation ran far ahead of accounting profit. Because total liabilities also climbed to$227.8M while the current ratio stayed near 1.1x, the cash build looks tied to operating balances that help fund the model, not just to improving profitability.
Gross margin improved from
Operating cash flow of
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Paysign Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Paysign Inc has an operating margin of 9.0%, meaning the company retains $9 of operating profit per $100 of revenue. This results in a moderate score of 33/100, indicating healthy but not exceptional operating efficiency. This is up from 1.8% the prior year.
Paysign Inc's revenue surged 40.5% year-over-year to $82.0M, reflecting rapid business expansion. This strong growth earns a score of 86/100.
Paysign Inc carries a low D/E ratio of 0.13, meaning only $0.13 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
Paysign Inc's current ratio of 1.11 is below the typical benchmark, resulting in a score of 17/100. However, the company holds substantial cash reserves (76% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
Paysign Inc converts 62.5% of revenue into free cash flow ($51.2M). This strong cash generation earns a score of 100/100.
Paysign Inc's ROE of 15.6% shows moderate profitability relative to equity, earning a score of 48/100. This is up from 12.5% the prior year.
Paysign Inc scores 1.50, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($354.4M) relative to total liabilities ($227.8M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Paysign Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Paysign Inc generates $6.95 in operating cash flow ($52.5M OCF vs $7.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Paysign Inc generated $82.0M in revenue in fiscal year 2025. This represents an increase of 40.5% from the prior year.
Paysign Inc's EBITDA was $15.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 123.5% from the prior year.
Paysign Inc reported $7.6M in net income in fiscal year 2025. This represents an increase of 97.9% from the prior year.
Paysign Inc earned $0.13 per diluted share (EPS) in fiscal year 2025. This represents an increase of 85.7% from the prior year.
Cash & Balance Sheet
Paysign Inc generated $51.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 127.6% from the prior year.
Paysign Inc held $165.0M in cash against $6.1M in long-term debt as of fiscal year 2025.
Paysign Inc had 55M shares outstanding in fiscal year 2025. This represents an increase of 2.9% from the prior year.
Margins & Returns
Paysign Inc's gross margin was 59.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 4.2 percentage points from the prior year.
Paysign Inc's operating margin was 9.0% in fiscal year 2025, reflecting core business profitability. This is up 7.2 percentage points from the prior year.
Paysign Inc's net profit margin was 9.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.7 percentage points from the prior year.
Paysign Inc's ROE was 15.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.0 percentage points from the prior year.
Capital Allocation
Paysign Inc spent $376K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 24.1% from the prior year.
Paysign Inc invested $1.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 178.0% from the prior year.
PAYS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $28.0M+23.2% | $22.8M+5.4% | $21.6M+13.2% | $19.1M+2.6% | $18.6M+19.2% | $15.6M+2.3% | $15.3M+6.5% | $14.3M |
| Cost of Revenue | $9.8M+1.9% | $9.6M+2.0% | $9.4M+29.0% | $7.3M+6.0% | $6.9M+7.8% | $6.4M-5.5% | $6.8M+0.6% | $6.7M |
| Gross Profit | $18.2M+38.9% | $13.1M+8.0% | $12.2M+3.4% | $11.8M+0.6% | $11.7M+27.1% | $9.2M+8.6% | $8.5M+11.7% | $7.6M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $8.9M-1.6% | $9.1M+8.1% | $8.4M+2.2% | $8.2M+10.8% | $7.4M+5.3% | $7.0M+13.1% | $6.2M+3.3% | $6.0M |
| Operating Income | $6.7M+259.6% | $1.9M+17.2% | $1.6M+10.0% | $1.4M-42.2% | $2.5M+436.1% | $464K-32.7% | $690K+448.9% | $126K |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $2.0M+79.5% | $1.1M+3610.4% | $30K-95.3% | $655K-1.5% | $665K+584.6% | -$137K-355.5% | $54K-77.8% | $242K |
| Net Income | $5.4M+299.2% | $1.4M-38.5% | $2.2M+59.6% | $1.4M-46.3% | $2.6M+88.4% | $1.4M-4.5% | $1.4M+106.1% | $697K |
| EPS (Diluted) | $0.09 | N/A | $0.04+100.0% | $0.02-60.0% | $0.05 | N/A | $0.03+200.0% | $0.01 |
PAYS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $312.7M+13.2% | $276.3M+31.9% | $209.5M+8.1% | $193.9M-5.5% | $205.1M+14.6% | $179.0M+7.2% | $167.0M-8.4% | $182.3M |
| Current Assets | $277.4M+15.5% | $240.1M+40.1% | $171.3M+7.9% | $158.7M-5.1% | $167.2M+5.2% | $158.8M+7.7% | $147.5M-9.7% | $163.4M |
| Cash & Equivalents | $179.5M+8.8% | $165.0M+39.2% | $118.6M+4.1% | $113.9M+2.2% | $111.5M-8.9% | $122.3M+10.7% | $110.6M-17.2% | $133.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $94.2M+30.6% | $72.2M+45.4% | $49.6M+20.1% | $41.3M-20.9% | $52.2M+60.0% | $32.6M-0.5% | $32.8M+27.4% | $25.8M |
| Goodwill | $4.5M0.0% | $4.5M0.0% | $4.5M0.0% | $4.5M-18.6% | $5.5M | $0 | N/A | N/A |
| Total Liabilities | $257.7M+13.1% | $227.8M+39.1% | $163.8M+8.0% | $151.7M-8.5% | $165.8M+11.6% | $148.6M+7.3% | $138.5M-10.9% | $155.5M |
| Current Liabilities | $248.1M+14.7% | $216.3M+42.2% | $152.1M+6.1% | $143.3M-7.9% | $155.7M+6.6% | $146.1M+7.5% | $135.9M-11.0% | $152.7M |
| Long-Term Debt | $4.6M-25.8% | $6.1M0.0% | $6.1M0.0% | $6.1M-21.4% | $7.8M | $0 | N/A | N/A |
| Total Equity | $55.0M+13.5% | $48.5M+6.0% | $45.8M+8.4% | $42.2M+7.5% | $39.3M+29.0% | $30.4M+6.8% | $28.5M+6.2% | $26.9M |
| Retained Earnings | $20.5M+36.1% | $15.1M+9.9% | $13.7M+19.3% | $11.5M+13.7% | $10.1M+34.4% | $7.5M+22.3% | $6.2M+30.5% | $4.7M |
PAYS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $18.8M-60.9% | $48.1M+612.2% | $6.8M+85.5% | $3.6M+160.3% | -$6.0M-142.2% | $14.3M+171.0% | -$20.2M-198.1% | $20.6M |
| Capital Expenditures | $266K-54.9% | $591K+30.2% | $454K+425.8% | $86K+9.7% | $79K-32.6% | $117K-4.3% | $122K-15.6% | $145K |
| Free Cash Flow | $18.5M-61.0% | $47.5M+654.1% | $6.3M+77.2% | $3.6M+158.2% | -$6.1M-143.1% | $14.2M+170.0% | -$20.3M-199.4% | $20.4M |
| Investing Cash Flow | -$2.1M-25.2% | -$1.7M+24.0% | -$2.2M-20.6% | -$1.8M+59.3% | -$4.4M-85.1% | -$2.4M+1.9% | -$2.4M-3.4% | -$2.4M |
| Financing Cash Flow | -$2.2M | $0-100.0% | $69K-88.3% | $592K+257.4% | -$376K-179.3% | -$135K+62.2% | -$356K-1582.1% | $24K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $200K | $0 | $0 | $0-100.0% | $376K+179.3% | $135K-62.7% | $360K | $0 |
PAYS Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 65.0%+7.3pp | 57.7%+1.4pp | 56.3%-5.4pp | 61.6%-1.2pp | 62.9%+3.9pp | 58.9%+3.4pp | 55.5%+2.6pp | 52.9% |
| Operating Margin | 23.8%+15.6pp | 8.2%+0.8pp | 7.3%-0.2pp | 7.5%-5.8pp | 13.4%+10.4pp | 3.0%-1.5pp | 4.5%+3.6pp | 0.9% |
| Net Margin | 19.4%+13.4pp | 6.0%-4.3pp | 10.3%+3.0pp | 7.3%-6.6pp | 13.9%+5.1pp | 8.8%-0.6pp | 9.4%+4.6pp | 4.9% |
| Return on Equity | 9.9%+7.1pp | 2.8%-2.0pp | 4.8%+1.6pp | 3.3%-3.3pp | 6.6%+2.1pp | 4.5%-0.5pp | 5.0%+2.4pp | 2.6% |
| Return on Assets | 1.7%+1.3pp | 0.5%-0.6pp | 1.1%+0.3pp | 0.7%-0.5pp | 1.3%+0.5pp | 0.8%-0.1pp | 0.9%+0.5pp | 0.4% |
| Current Ratio | 1.120.0 | 1.11-0.0 | 1.13+0.0 | 1.11+0.0 | 1.07-0.0 | 1.090.0 | 1.09+0.0 | 1.07 |
| Debt-to-Equity | 0.08-0.0 | 0.130.0 | 0.13-0.0 | 0.15-0.1 | 0.20+0.2 | 0.00-4.9 | 4.86-0.9 | 5.79 |
| FCF Margin | 66.0%-142.7pp | 208.7%+179.6pp | 29.2%+10.5pp | 18.6%+51.5pp | -32.9%-123.8pp | 91.0%+223.9pp | -133.0%-275.4pp | 142.4% |
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Frequently Asked Questions
What is Paysign Inc's annual revenue?
Paysign Inc (PAYS) reported $82.0M in total revenue for fiscal year 2025. This represents a 40.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Paysign Inc's revenue growing?
Paysign Inc (PAYS) revenue grew by 40.5% year-over-year, from $58.4M to $82.0M in fiscal year 2025.
Is Paysign Inc profitable?
Yes, Paysign Inc (PAYS) reported a net income of $7.6M in fiscal year 2025, with a net profit margin of 9.2%.
What is Paysign Inc's EBITDA?
Paysign Inc (PAYS) had EBITDA of $15.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Paysign Inc have?
As of fiscal year 2025, Paysign Inc (PAYS) had $165.0M in cash and equivalents against $6.1M in long-term debt.
What is Paysign Inc's gross margin?
Paysign Inc (PAYS) had a gross margin of 59.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Paysign Inc's operating margin?
Paysign Inc (PAYS) had an operating margin of 9.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Paysign Inc's net profit margin?
Paysign Inc (PAYS) had a net profit margin of 9.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Paysign Inc's return on equity (ROE)?
Paysign Inc (PAYS) has a return on equity of 15.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Paysign Inc's free cash flow?
Paysign Inc (PAYS) generated $51.2M in free cash flow during fiscal year 2025. This represents a 127.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Paysign Inc's operating cash flow?
Paysign Inc (PAYS) generated $52.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Paysign Inc's total assets?
Paysign Inc (PAYS) had $276.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Paysign Inc's capital expenditures?
Paysign Inc (PAYS) invested $1.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Paysign Inc's current ratio?
Paysign Inc (PAYS) had a current ratio of 1.11 as of fiscal year 2025, which is considered adequate.
What is Paysign Inc's debt-to-equity ratio?
Paysign Inc (PAYS) had a debt-to-equity ratio of 0.13 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Paysign Inc's return on assets (ROA)?
Paysign Inc (PAYS) had a return on assets of 2.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Paysign Inc's Altman Z-Score?
Paysign Inc (PAYS) has an Altman Z-Score of 1.50, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Paysign Inc's Piotroski F-Score?
Paysign Inc (PAYS) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Paysign Inc's earnings high quality?
Paysign Inc (PAYS) has an earnings quality ratio of 6.95x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Paysign Inc?
Paysign Inc (PAYS) scores 64 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.