Paysign (PAYS) Corporate presentation summary

Strategic positioning and business model

• Holds approximately 45% share of the U.S. plasma payments market, serving 561 facilities and 8.4 million cardholders as of August 2026.

• Operates a dual-engine platform: plasma donor compensation/payment and pharmaceutical patient affordability solutions, both leveraging a fixed infrastructure for scalable growth.

• Offers proprietary Dynamic Business Rules for patient affordability, providing high detection accuracy (97%) against PBM maximizer and accumulator tactics, protecting over $325M in manufacturer copay funds in FY2025.

• Integrated software and payments stack (Apherion platform) delivers modular SaaS and payment solutions for plasma and blood collection centers.

• Regulatory compliance and high-barrier infrastructure (HIPAA, PCI DSS, SOC 1/2, BSA/AML, BECS 510(k) pending) reinforce competitive moat.

Financial performance and outlook

• FY2025 revenue reached $82.0M (+40.5% YoY), with adjusted EBITDA of $19.9M (+107.3% YoY) and gross margin of 59.4%.

• Patient affordability revenue grew 167.8% in FY2025 and 85.2% YoY in H1 2026, reaching $30.3M; plasma revenue grew 4.0% YoY to $45.6M in FY2025.

• FY2026 guidance raised: revenue $114.0M–$117.0M (+39–43% YoY), adjusted EBITDA $35.0M–$38.0M, gross margin 62–63%, and 30–33% adjusted EBITDA margin.

• Five consecutive years of double-digit top-line growth; no bank debt and a capital-light model.

• Revenue mix shifting toward balance: plasma 55.6% and patient affordability 41.3% in FY2025, expected to reach 50/50 in FY2026.

Market opportunity and growth drivers

• U.S. plasma collection and patient affordability markets are both structurally growing, with plasma collections projected to rise from 57.8M liters (2024) to 64.3M (2026F).

• Patient affordability market driven by rising specialty drug prices, complex PBM tactics, and increasing manufacturer demand for program integrity.

• Platform has significant runway via further Apherion module penetration, international expansion, and adjacent biologics.

• Active patient affordability programs expected to reach 165–170 by Q3 2026; plasma facility count stable at 561–563.

• Both business lines benefit from recurring revenue models and expanding per-program economics.