PAYS - Paysign stock climbs after buyback Q4 earnings 2023 guidance announced

2023-03-21 16:51:28 ET

Paysign ( NASDAQ: PAYS ) stock gained 7.4% in Tuesday after-hours trading after the payment processing and digital banking services company announced a $5M stock repurchase program, Q4 EPS that matched the consensus estimate, and 2023 EPS guidance that beat the average analyst estimate.

2023 EPS is expected to be $0.05-$0.06 , vs. $0.04 consensus, and guidance for adjusted EBITDA is $6.0M-$7.5M.

The company expects 2023 full-year revenue of $44.0M-$46.0M vs. $45.0M consensus. Plasma customers make up ~90% of its total revenue. The guidance takes into account one of its plasma customers selling a number of their centers and another plasma customer shutting down, impacting 16 of Paysign's ( PAYS ) centers with nine lost in Q1, six in Q2 and one in Q4.

It expects to add 45 to 55 new centers in 2023 with at least seven being adding in Q1. Operating expenses are expected to be $23.0M-$25.0M, comprised of increased investments in people and technology, inflationary pressures, and expenses related to outstanding litigation.

For Q1 2023, the company expects total revenue of $10.2M-$10.3M, less than the $10.5M consensus, with gross margin of 52.5%-53.5%. Operating expenses are expected to be $6.2M-$6.4M and adjusted EBITDA of $0.7M-$0.8M.

Conference call at 5:00 PM ET.

Earlier, Paysign ( PAYS ) GAAP EPS of $0.01 in-line, revenue of $10.62M misses by $0.15M

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