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Daniel Spence, a 10% owner of Paysign, Inc. (NASDAQ:PAYS), has sold 100,000 shares of common stock back to the company, according to a recent SEC filing. The transaction comes as the stock has experienced a significant 41% decline over the past six months, according to InvestingPro data. The shares were sold as part of Paysign’s stock buyback program at a price of $3.7578 per share, totaling $375,780. Following the transaction, Spence retains 8,990,000 shares in the company. This move aligns with the company’s initiative to repurchase shares, which were acquired at 90% of the volume-weighted average price for the ten trading days ending on September 30, 2024. Despite recent price weakness, InvestingPro analysis shows the company maintains strong fundamentals with 28% revenue growth and a healthy 53% gross margin. Get access to 7 more exclusive ProTips and comprehensive valuation metrics with an InvestingPro subscription.
In other recent news, Paysign Inc. reported its Q4 2024 earnings, meeting expectations with an EPS of $0.02 and slightly exceeding revenue forecasts by generating $15.61 million. The company’s full-year 2024 revenue increased by 23.5% to $58.4 million, driven by strong performance in its plasma and patient affordability segments. Paysign’s adjusted EBITDA rose by 43.3%, reflecting improved operational efficiency. In a strategic move, Paysign acquired Gamma Innovation LLC, which positions the company for growth in the SaaS market. The acquisition is expected to enhance Paysign’s capabilities in offering integrated solutions for plasma donor and pharmaceutical patient engagement. Analysts have noted Paysign’s strategic growth initiatives, with the company projecting 2025 total revenue between $68.5 million and $70 million. The plasma segment is anticipated to contribute 57.5% of total revenue, while the patient affordability segment is expected to double its revenue. Paysign’s leadership has expressed optimism about the company’s growth trajectory and the potential impact of recent acquisitions on its market presence.
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