PAYS - PaySign slides after earnings miss weak revenue guidance

PaySign (PAYS) is down 13% after reporting a miss in its first-quarter earnings report.Revenue of $6.28M (-40.6% Y/Y) misses consensus by $0.96M.By segment, revenue: Plasma revenue, $5.83M (-26.7%), Pharma revenue, $0.88M (-70.8%). Load volume declined 15.2% Y/Y.Gross profit decreased $2.9M (50.5%) primarily due to the reduction in pharma revenues. Gross margin was 45.1% compared to 54.1% a year ago.Adjusted EBITDA loss of $0.4M.GAAP EPS of -$0.03 misses by $0.02."We expect to add a total of 60 new plasma centers this year, exiting 2021 with at least 400 centers. Our average revenue per plasma center for the first quarter was $5,260, which we expect to be a low-water mark for 2021. Additionally, we continue to win new pharmaceutical co-pay business and expect three new programs to launch in the third and fourth quarters," says CEO Mark Newcomer. 2021 Outlook: Revenue to be in the range of $29 - $32M (+20 to +30% Y/Y) vs. consensus of $37.13M;

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PaySign slides after earnings miss, weak revenue guidance