Financial Data and Key Metrics Changes - Paysign reported record revenue of $21.6 million, an increase of 41.6% year over year [3][12] - Adjusted EBITDA reached a record $5 million, up 78% [3][12] - Net income rose 54% to $2.2 million, or $0.04 per fully diluted share [3][14] - Consolidated gross profit margin improved to 56.3%, up 72 basis points [12][13] - Adjusted unrestricted cash balance at quarter-end was $16.9 million with zero debt [15] Business Line Data and Key Metrics Changes - Patient affordability business generated $7.9 million in revenue, up 142% year over year, accounting for 36.7% of quarterly revenues [4][12] - Plasma donor compensation revenue grew 12.4% to $12.9 million, despite a net loss of 12 centers, totaling 595 active centers [6][12] - The number of claims processed in the patient affordability segment increased by over 60% compared to the same period last year [12] Market Data and Key Metrics Changes - The company ended the quarter with 105 active patient affordability programs and expects to add 20-30 more by year-end [4][10] - The plasma business is expected to normalize in the first half of 2026 due to an oversupply of source plasma [6] Company Strategy and Development Direction - Paysign aims to expand its role in the blood and plasma ecosystem, evolving from a payments provider to a technology partner [8] - The company is focused on integrating its proprietary Dynamic Business Rules technology into the pharmacy claims process to unlock new revenue streams [5] - The opening of a new 30,000 sq ft patient support center is expected to enhance service capacity and operational efficiency [4] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory and long-term value creation for shareholders [9][11] - The company anticipates improvement in gross profit margins as new customer service centers ramp up [11] - Management noted that the plasma industry is expected to normalize, which could lead to organic growth at the center level sooner than anticipated [7][12] Other Important Information - The company raised its revenue guidance for 2025 to a range of $80.5 million to $81.5 million, reflecting year-over-year growth of 38.7% at the midpoint [16] - Full-year gross profit margins are expected to be approximately 60% [16] Q&A Session Summary Question: Insights on retail versus specialty pharmacy mix - Management indicated a decent mix of retail versus specialty pharmacy, with a higher percentage of retail programs expected in the pipeline moving into next year [19][21] Question: Gross profit margins and capacity utilization - Management clarified that gross profit margins are expected to improve as new centers mature and the patient affordability programs ramp up [24][26] Question: Average revenue per program and seasonal business dynamics - Management explained that the business is seasonal, and the current mix is more geared towards claims rather than initial launch fees, impacting average revenue per program [27][31] Question: Dynamics affecting plasma donor engagement - Management noted no significant changes in donor engagement due to immigration issues and did not expect changes from the government shutdown [44][46] Question: Timing for FDA approval of the donor management system - Management expects FDA approval for the donor management system in the first quarter of 2026, with potential licensing opportunities on a center-by-center basis [49][50]