Key Highlights

  • Paysign (NASDAQ:PAYS) reported second quarter 2026 Revenue of USD 28.25 million on August 5, 2026, up 48.1%, with Net Income of USD 6.76 million, or USD 0.11 per diluted share.
  • Pharma revenue rose 88.9% to USD 14.65 million as active patient affordability programs reached 148, with 51 net new in twelve months. Plasma revenue grew 21.4% to USD 13.04 million.
  • The company raised its 2026 outlook to revenue of USD 114.0 million to USD 117.0 million and adjusted EBITDA of USD 35.0 million to USD 38.0 million. It reported zero bank Debt and USD 27.37 million of cash.
  • Shares traded near USD 15.07 on October 8, 2026, up 0.83%, close to a 52-week high of USD 15.09. A published analyst summary shows a target raised to USD 15 on September 30, 2026.

Verifying the Quality Metrics

The verified period is the quarter ended June 30, 2026. Revenue of USD 28.25 million grew 48.1% from USD 19.08 million. Gross Profit was USD 17.90 million, a 63.3% margin, which differs from the 51.68% trailing screen figure, so the verified figure is used. Operating Margin was 24.8%, or 21.3% excluding a one-time non-cash benefit of USD 990,000 from a contingent consideration adjustment, versus a 17.01% trailing screen figure. Adjusted EBITDA, a non-GAAP measure, rose 113% to USD 9.61 million. The release reports zero bank debt, while the screen shows debt to Equity of 0.09, which we could not reconcile and may reflect Lease obligations. Paysign (NASDAQ:PAYS) sells prepaid card and payment programs.

Where the Growth Comes From

Paysign (NASDAQ:PAYS) runs two businesses. Its pharma Business operates patient affordability programs, in which drug makers fund prepaid cards or payment tools that reduce what patients pay out of pocket. Pharma revenue of USD 14.65 million now exceeds plasma revenue of USD 13.04 million. The plasma business pays donors on prepaid cards at collection centers, and its growth of 21.4% came even though net centers fell by 46 to 561. Gross dollar load Volume and gross spend volume each grew about 24%. That mix shift toward pharma matters because new programs can scale revenue without matching cost growth, though that is our inference and not a company statement.

Price Action and Risks

The stock set a 52-week high of USD 15.09 on October 8, 2026, from a 52-week low of USD 3.08. Beyond the August 5 results and the raised outlook, no company announcement explaining the rally was found. Published data show insiders sold about USD 5.3 million of stock over three months, including a sale on September 18, 2026. Risks include customer concentration in pharma programs, a shrinking plasma center count, and regulation of prepaid products, any of which could slow a business now priced near its high. The next guided period, the third quarter, calls for revenue of USD 28.5 million to USD 30.0 million and adjusted EBITDA of USD 9.5 million to USD 10.0 million.

Where Things Stand

Paysign (NASDAQ:PAYS) is trading near a 12-month high mainly because second quarter 2026 revenue grew 48.1%, pharma programs accelerated and the company raised its full year outlook on August 5, 2026. No separate catalyst for the October 8 move was found. The outlook of USD 114.0 million to USD 117.0 million of revenue sets the bar, and insider selling and a falling plasma center count are the counterweights. The third quarter report is estimated for November 11, 2026, a date the company has not confirmed.