PaySign, Inc. (PAYS) 10-Year Financial Performance & Capital Metrics

PAYS • • Industrial / General

TechnologyInfrastructure SoftwarePayment Processing & Digital CommerceFinancial Infrastructure & Billing

AboutPaySign, Inc. provides prepaid card products and processing services under the PaySign brand for corporate, consumer, and government applications. It offers various services, such as transaction processing, cardholder enrollment, value loading, cardholder account management, reporting, and customer service through PaySign, a proprietary card-processing platform. The company also develops prepaid card programs for corporate incentive and rewards, including consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments, and pharmaceutical payment assistance; and payroll or general purpose reloadable cards, as well as gift or incentive cards. In addition, it offers and Per Diem/Corporate Expense Payments that allows businesses, and nonprofits and government agencies the ability to control employee spending while reducing administration costs by eliminating the need for traditional expense reports. Further, the company provides payment claims processing and other administrative services; pharmacy-based voucher and copay, and medical claims and debit-based affordability programs; PaySign Premier, a demand deposit account debit card; and payment solution for source plasma collection centers, as well as customer service center and PaySign Communications Suite services. Its principal target markets for processing services comprise prepaid card issuers, retail and private-label issuers, small third-party processors, and small and mid-size financial institutions in the United States and Mexico. The company was formerly known as 3PEA International, Inc. and changed its name to PaySign, Inc. in April 2019. PaySign, Inc. was incorporated in 1995 and is based in Henderson, Nevada.Show more

Revenue $58M +23.5%
EBITDA $7M +81.8%
Net Income $4M -40.9%
EPS (Diluted) 0.07 -42.8%
Gross Margin 55.15% +8.0%
EBITDA Margin 12.02% +47.2%
Operating Margin 1.75% +594.5%
Net Margin 6.54% -52.2%
ROE 13.89% -56.1%
ROIC 4.59% +485.1%
Debt/Equity 0.10 -28.9%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong Piotroski F-Score: 7/9
✓FCF machine: 23.1% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 11.0%
✓Good 3Y average ROE of 17.5%

✗Weaknesses

✗Profits declining 12.5% over 5 years
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y18.95%

5Y10.99%

3Y25.6%

TTM32.61%

Profit (Net Income) CAGR

10Y3.87%

5Y-12.53%

3Y-

TTM-6.24%

EPS CAGR

10Y1.35%

5Y-13.3%

3Y-

TTM-6.33%

ROCE

10Y Avg13.4%

5Y Avg-11.44%

3Y Avg1.52%

Latest3.39%

Peer Comparison

Financial Infrastructure & Billing

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MQMarqeta, Inc.	1.8B	4.41	83.84	-25.02%	-6.74%	-4.72%	3.1%	0.01
PAYSPaySign, Inc.	259.8M	4.72	68.80	23.5%	10.1%	16.53%	5.18%	0.10
CSGSCSG Systems International, Inc.	2.27B	79.48	26.23	2.39%	6.85%	28.79%	5%	2.03
CPAYCorpay, Inc.	23.14B	330.77	23.68	5.77%	24.37%	25.52%	7.63%	2.54
PAYOPayoneer Global Inc.	1.92B	5.40	17.42	17.64%	6.96%	9.64%	6.05%	0.03
IMXIInternational Money Express, Inc.	460.64M	15.50	8.66	-0.01%	6.26%	26.14%	5.01%	1.35
ATCHAtlasClear Holdings, Inc.	38.17M	0.26	-0.69	171.31%	-44.2%	-79.32%	4.12%
LSAKLesaka Technologies, Inc.	392.68M	4.67	-4.10	16.92%	-11.78%	-32.78%		0.90

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	8.11M	10.42M	15.23M	23.42M	34.67M	24.12M	29.46M	38.03M	47.27M	58.38M
Revenue Growth %	-0.21%	0.28%	0.46%	0.54%	0.48%	-0.3%	0.22%	0.29%	0.24%	0.24%
Cost of Goods Sold+	4.02M	5.2M	8.53M	12.03M	15.43M	14.82M	14.75M	17.08M	23.14M	26.19M
COGS % of Revenue	0.5%	0.5%	0.56%	0.51%	0.44%	0.61%	0.5%	0.45%	0.49%	0.45%
Gross Profit+	4.09M	5.22M	6.7M	11.4M	19.24M	9.3M	14.71M	20.95M	24.14M	32.2M
Gross Margin %	0.5%	0.5%	0.44%	0.49%	0.56%	0.39%	0.5%	0.55%	0.51%	0.55%
Gross Profit Growth %	-0.27%	0.28%	0.28%	0.7%	0.69%	-0.52%	0.58%	0.42%	0.15%	0.33%
Operating Expenses+	4.1M	3.86M	4.93M	8.92M	13.14M	17.64M	17.45M	20.61M	24.3M	31.18M
OpEx % of Revenue	0.51%	0.37%	0.32%	0.38%	0.38%	0.73%	0.59%	0.54%	0.51%	0.53%
Selling, General & Admin	3.73M	3.29M	4.06M	7.84M	11.66M	15.09M	15.83M	18.16M	20.28M	25.18M
SG&A % of Revenue	0.46%	0.32%	0.27%	0.33%	0.34%	0.63%	0.54%	0.48%	0.43%	0.43%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-6.36K	16.15K	55.54K	-31.13K	1.48M	2.55M	1.62M	2.45M	4.03M	5.99M
Operating Income+	-8.87K	1.36M	1.77M	2.47M	6.1M	-8.34M	-2.74M	344.33K	-167.25K	1.02M
Operating Margin %	-0%	0.13%	0.12%	0.11%	0.18%	-0.35%	-0.09%	0.01%	-0%	0.02%
Operating Income Growth %	-1%	154.13%	0.3%	0.4%	1.47%	-2.37%	0.67%	1.13%	-1.49%	7.11%
EBITDA+	353.84K	1.93M	2.64M	3.56M	7.58M	-6.21M	-241.51K	3.25M	3.86M	7.02M
EBITDA Margin %	0.04%	0.19%	0.17%	0.15%	0.22%	-0.26%	-0.01%	0.09%	0.08%	0.12%
EBITDA Growth %	-0.88%	4.46%	0.37%	0.35%	1.13%	-1.82%	0.96%	14.47%	0.19%	0.82%
D&A (Non-Cash Add-back)	362.71K	572.32K	876.19K	1.09M	1.48M	2.12M	2.5M	2.91M	4.03M	5.99M
EBIT	-2.5M	1.37M	1.77M	2.58M	6.54M	-7.91M	-3.62M	-115.42K	-167.25K	1.02M
Net Interest Income+	-45.68K	-77.11K	7.6K	139.74K	441.12K	90.72K	28.3K	790.92K	2.53M	3.12M
Interest Income	0	0	0	139.74K	441.12K	90.72K	28.3K	790.92K	2.53M	3.12M
Interest Expense	45.68K	77.11K	31.62K	0	0	0	0	0	0	0
Other Income/Expense	-2.54M	-60.96K	23.92K	108.61K	441.12K	90.72K	28.3K	790.92K	2.53M	3.12M
Pretax Income+	-2.55M	1.3M	1.79M	2.58M	6.54M	-8.25M	-2.71M	1.14M	2.36M	4.14M
Pretax Margin %	-0.31%	0.12%	0.12%	0.11%	0.19%	-0.34%	-0.09%	0.03%	0.05%	0.07%
Income Tax+	0	0	6K	0	-909.98K	894.18K	10.2K	107.48K	-4.09M	322.29K
Effective Tax Rate %	0.95%	1.08%	1%	1%	1.14%	1.11%	1%	0.91%	2.73%	0.92%
Net Income+	-2.41M	1.4M	1.79M	2.59M	7.45M	-9.14M	-2.72M	1.03M	6.46M	3.82M
Net Margin %	-0.3%	0.13%	0.12%	0.11%	0.22%	-0.38%	-0.09%	0.03%	0.14%	0.07%
Net Income Growth %	-1.92%	1.58%	0.28%	0.44%	1.88%	-2.23%	0.7%	1.38%	5.28%	-0.41%
Net Income (Continuing)	-2.55M	1.3M	1.79M	2.58M	7.45M	-9.14M	-2.72M	1.03M	6.46M	3.82M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-91.54K	-194.69K	-200.12K	-206.93K	-263.09K	0	0	0	0	0
EPS (Diluted)+	-0.06	0.03	0.04	0.05	0.14	-0.19	-0.05	0.02	0.12	0.07
EPS Growth %	-2.01%	1.49%	0.33%	0.24%	1.81%	-2.36%	0.72%	1.36%	5.19%	-0.43%
EPS (Basic)	-0.06	0.03	0.04	0.05	0.16	-0.19	-0.05	0.02	0.12	0.07
Diluted Shares Outstanding	39.64M	43.87M	48.04M	51.99M	54.55M	49.27M	50.98M	52.93M	54.16M	55.59M
Basic Shares Outstanding	39.64M	42.88M	43.4M	51.76M	47.44M	49.27M	50.98M	52.05M	52.49M	53.21M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	8.72M	12.02M	17.9M	33.18M	47.88M	57.96M	74.33M	97.72M	129.18M	158.84M
Cash & Short-Term Investments	1.39M	1.63M	2.75M	5.62M	9.66M	7.83M	7.39M	9.71M	16.99M	10.77M
Cash Only	1.39M	1.63M	2.75M	5.62M	9.66M	7.83M	7.39M	9.71M	16.99M	10.77M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	16.74K	110.27K	165.52K	337.3K	891.94K	512.1K	3.39M	4.68M	16.22M	34.25M
Days Sales Outstanding	0.75	3.86	3.97	5.26	9.39	7.75	42.04	44.92	125.25	214.09
Inventory	7.06M	10M	14.42M	26.05M	0	0	0	0	0	0
Days Inventory Outstanding	641.46	702.45	616.57	790.63	-	-	-	-	-	-
Other Current Assets	7.06M	10M	14.42M	26.05M	35.91M	48.24M	62.3M	81.63M	93.94M	113.82M
Total Non-Current Assets+	1.54M	1.86M	2.5M	3M	5.67M	9.87M	9.72M	10.53M	17.42M	20.19M
Property, Plant & Equipment	271.97K	300.76K	854.4K	883.49K	937.18K	6.17M	5.64M	4.87M	4.3M	3.95M
Fixed Asset Turnover	29.81x	34.63x	17.83x	26.51x	36.99x	3.91x	5.23x	7.81x	10.98x	14.78x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	1.26M	1.55M	1.64M	2.12M	3.82M	3.7M	4.09M	5.66M	8.81M	12.24M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	3.55K	5.55K	5.55K	0	917.48K	0	1	0	4.3M	0
Total Assets+	10.26M	13.87M	20.4M	36.18M	53.55M	67.83M	84.05M	108.24M	146.6M	179.03M
Asset Turnover	0.79x	0.75x	0.75x	0.65x	0.65x	0.36x	0.35x	0.35x	0.32x	0.33x
Asset Growth %	-0.21%	0.35%	0.47%	0.77%	0.48%	0.27%	0.24%	0.29%	0.35%	0.22%
Total Current Liabilities+	8.74M	11.22M	15.56M	27.29M	34.25M	50.58M	67.39M	88.64M	119.18M	146.11M
Accounts Payable	465.32K	765.6K	1.15M	1.33M	1.52M	2.16M	5.77M	8.09M	26.52M	0
Days Payables Outstanding	42.25	53.77	48.97	40.29	36.05	53.26	142.64	172.86	418.31	-
Short-Term Debt	174.1K	124.17K	0	0	0	0	0	0	0	448.01K
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	8.11M	254.9K	14.42M	25.96M	32.72M	48.1M	61.28M	80.19M	92.28M	145.66M
Current Ratio	1.00x	1.07x	1.15x	1.22x	1.40x	1.15x	1.10x	1.10x	1.08x	1.09x
Quick Ratio	0.19x	0.18x	0.22x	0.26x	1.40x	1.15x	1.10x	1.10x	1.08x	1.09x
Cash Conversion Cycle	599.96	652.55	571.57	755.6	-	-	-	-	-	-
Total Non-Current Liabilities+	339.18K	27.89K	0	0	1	4.01M	3.67M	3.31M	2.93M	2.48M
Long-Term Debt	0	27.89K	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	4.01M	3.67M	3.31M	2.93M	2.48M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	339.18K	0	0	0	1	0	0	0	0	0
Total Liabilities	9.08M	11.25M	15.56M	27.29M	34.25M	54.6M	71.06M	91.95M	122.11M	148.59M
Total Debt+	174.1K	152.06K	0	0	0	4.33M	4.01M	3.67M	3.31M	2.93M
Net Debt	-1.22M	-1.48M	-2.75M	-5.62M	-9.66M	-3.5M	-3.37M	-6.04M	-13.68M	-7.84M
Debt / Equity	0.15x	0.06x	-	-	-	0.33x	0.31x	0.23x	0.14x	0.10x
Debt / EBITDA	0.49x	0.08x	-	-	-	-	-	1.13x	0.86x	0.42x
Net Debt / EBITDA	-3.43x	-0.77x	-1.04x	-1.58x	-1.27x	-	-	-1.85x	-3.55x	-1.12x
Interest Coverage	-0.19x	17.62x	55.90x	-	-	-	-	-	-	-
Total Equity+	1.18M	2.63M	4.84M	8.89M	19.3M	13.24M	12.99M	16.29M	24.49M	30.44M
Equity Growth %	-0.58%	1.22%	0.84%	0.84%	1.17%	-0.31%	-0.02%	0.25%	0.5%	0.24%
Book Value per Share	0.03	0.06	0.10	0.17	0.35	0.27	0.25	0.31	0.45	0.55
Total Shareholders' Equity	1.27M	2.82M	5.04M	9.1M	19.56M	13.24M	12.99M	16.29M	24.49M	30.44M
Common Stock	42.51K	43.19K	43.67K	46.44K	48.58K	50.25K	52.09K	52.65K	53.45K	54.36K
Retained Earnings	-5.2M	-3.8M	-2.01M	579.58K	8.09M	-1.05M	-3.77M	-2.75M	3.71M	7.53M
Treasury Stock	-150K	-150K	-150K	-150K	-150K	-150K	-150K	-150K	-1.28M	0
Accumulated OCI	-625.09K	-706.16K	-859.74K	-1.09M	0	0	0	0	0	0
Minority Interest	-91.54K	-194.69K	-200.12K	-206.93K	-263.09K	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-719.5K	1.27M	7.15M	16M	9.95M	13.78M	15.23M	25.32M	27.62M	22.95M
Operating CF Margin %	-0.09%	0.12%	0.47%	0.68%	0.29%	0.57%	0.52%	0.67%	0.58%	0.39%
Operating CF Growth %	-1.23%	2.76%	4.65%	1.24%	-0.38%	0.38%	0.11%	0.66%	0.09%	-0.17%
Net Income	-2.41M	1.4M	1.79M	2.59M	7.45M	-9.14M	-2.72M	1.03M	6.46M	3.82M
Depreciation & Amortization	362.71K	572.32K	876.19K	1.09M	1.48M	2.12M	2.5M	2.91M	4.03M	5.99M
Stock-Based Compensation	202.55K	92.94K	308.7K	1.37M	0	2.97M	2.28M	2.28M	2.85M	2.6M
Deferred Taxes	-11.34K	0	0	0	-909.98K	917.48K	0	0	-4.3M	298.78K
Other Non-Cash Items	-139.24K	-103.15K	-5.43K	-6.81K	2.53M	614.29K	331.03K	378.82K	394.95K	422.1K
Working Capital Changes	1.28M	-696.19K	4.18M	10.96M	-604K	16.29M	12.84M	18.72M	18.19M	9.81M
Change in Receivables	69.92K	-93.53K	-55.25K	-171.78K	-554.63K	237.08K	-3.76M	-1.71M	-11.69M	-16.44M
Change in Inventory	1.36M	-1.81M	-557.05K	-596.9K	0	0	0	0	0	0
Change in Payables	-130.59K	415.51K	379.49K	182.41K	196.11K	0	0	0	0	0
Cash from Investing+	-926.18K	-887.01K	-1.52M	-1.59M	-3.24M	-3.34M	-2.68M	-4.09M	-7.05M	-9.49M
Capital Expenditures	-926.18K	-887.01K	-1.52M	-1.59M	-3.24M	-1.38M	-328.57K	-105.19K	-262.56K	-434.9K
CapEx % of Revenue	0.11%	0.09%	0.1%	0.07%	0.09%	0.06%	0.01%	0%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-787.85K	-777.14K	-812.12K	-1.34M	0	-1.96M	-2.35M	-3.99M	-6.79M	-9.05M
Cash from Financing+	-851.79K	-137.26K	-102.06K	100K	430.92K	-72.86K	192.14K	0	-1.12M	-466.25K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-700.44K	0	50K	100K	0	172.56K	192.14K	0	9.6K	28.8K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-1.65M	379.71K	5.63M	14.4M	9.49M	10.43M	12.55M	21.23M	20.57M	13.46M
FCF Margin %	-0.2%	0.04%	0.37%	0.61%	0.27%	0.43%	0.43%	0.56%	0.44%	0.23%
FCF Growth %	-1.64%	1.23%	13.83%	1.56%	-0.34%	0.1%	0.2%	0.69%	-0.03%	-0.35%
FCF per Share	-0.04	0.01	0.12	0.28	0.17	0.21	0.25	0.40	0.38	0.24
FCF Conversion (FCF/Net Income)	0.30x	0.90x	3.99x	6.18x	1.33x	-1.51x	-5.60x	24.63x	4.28x	6.01x
Interest Paid	0	0	46.66K	0	0	0	4.59K	221	0	0
Taxes Paid	0	0	16.2K	7.5K	0	0	4.07K	35.95K	207.94K	136.63K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-121.76%	73.63%	47.98%	37.7%	52.88%	-56.19%	-20.75%	7.02%	31.68%	13.89%
Return on Invested Capital (ROIC)	-	183.62%	81.89%	69.11%	70.88%	-64.54%	-21.23%	2.6%	-1.19%	4.59%
Gross Margin	50.42%	50.11%	43.98%	48.66%	55.5%	38.57%	49.93%	55.09%	51.06%	55.15%
Net Margin	-29.73%	13.45%	11.76%	11.05%	21.5%	-37.9%	-9.24%	2.7%	13.66%	6.54%
Debt / Equity	0.15x	0.06x	-	-	-	0.33x	0.31x	0.23x	0.14x	0.10x
Interest Coverage	-0.19x	17.62x	55.90x	-	-	-	-	-	-	-
FCF Conversion	0.30x	0.90x	3.99x	6.18x	1.33x	-1.51x	-5.60x	24.63x	4.28x	6.01x
Revenue Growth	-21.23%	28.48%	46.25%	53.76%	48%	-30.42%	22.16%	29.08%	24.3%	23.5%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Plasma Industry	26.99M	23.4M	-	-	-	43.88M
Plasma Industry Growth	-	-13.31%	-	-	-	-
Pharma Industry	-	-	-	-	-	12.65M
Pharma Industry Growth	-	-	-	-	-	-
Other Revenue	-	-	184.83K	288.89K	1.27M	1.85M
Other Revenue Growth	-	-	-	56.30%	340.13%	45.71%
Other	298.73K	392.67K	-	-	-	-
Other Growth	-	31.44%	-	-	-	-
Pharma industry	7.37M	326.7K	-	-	-	-
Pharma industry Growth	-	-95.57%	-	-	-	-

Frequently Asked Questions

Valuation & Price

PaySign, Inc. (PAYS) has a price-to-earnings (P/E) ratio of 68.8x. This suggests investors expect higher future growth.

Growth & Financials

PaySign, Inc. (PAYS) reported $74.9M in revenue for fiscal year 2024. This represents a 2214% increase from $3.2M in 2011.

PaySign, Inc. (PAYS) grew revenue by 23.5% over the past year. This is strong growth.

Yes, PaySign, Inc. (PAYS) is profitable, generating $7.6M in net income for fiscal year 2024 (6.5% net margin).

Dividend & Returns

PaySign, Inc. (PAYS) has a return on equity (ROE) of 13.9%. This is reasonable for most industries.

PaySign, Inc. (PAYS) generated $9.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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