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Paysign (NASDAQ: PAY) gap stocks up by 9.2% in after-hours trading on Tuesday after posting above-consensus guidance for revenue in both the first quarter and full-year 2024. Additionally, its earnings and revenue for the final quarter of 2023 beat Wall Street’s expectations.
The supplier of prepaid card products and processing services forecasts revenue for 2024 will be $54.5-56.7 million, compared to the average analyst estimate of $52.2 million (four estimates), reflecting year-over-year growth of 15%-20%.
Plasma is expected to account for 80%-85% of total revenue for the year. “To date, we have already added five new plasma centers and launched ten new affordable pharmacy programs for patients this year,” noted Chief Financial Officer Jeff Baker.
Net earnings per share, however, are expected to be $0.04-$0.06, compared to the expected $0.07 and $0.12 in 2023. Adjusted EBITDA is expected to be $8, 0 million-$9.0 million.
For the first quarter of 2024, it expects revenue of $12.0 million to $13.0 million, compared to $11.7 million forecast (two estimates), reflecting the seasonal impact of tax refunds on the plasma plasma business. ‘agency. And adjusted EBITDA for the quarter is expected to be $1.20 million – $1.50 million.
Fourth quarter 2023 GAAP EPS of $0.10, higher than expected $0.02, increased from $0.01 in the prior-year period. Revenue of $13.7 million, exceeding the expected $12.4 million, was up from $10.6 million a year earlier.
Adjusted EBITDA of $2.51 million increased from $1.75 million in the fourth quarter of 2022. Adjusted EBITDA per share of $0.05 increased from $0.03 a year ago .
Previously, Paysign’s (PAYS) GAAP EPS of $0.10 was $0.08 higher, revenue of $13.69 million was $1.33 million higher.