Core Insights - Paysign's patient affordability business was the primary driver of growth in 2025, with segment revenue increasing by 168% year-over-year to $33.9 million from $12.7 million, and processed claims rising approximately 79% [1][6] Financial Performance - For the full year 2025, Paysign reported a revenue increase of 40.5% to $82.0 million, with net income rising 98% to $7.6 million and adjusted EBITDA increasing 107% to $19.9 million [3][7] - Operating expenses totaled $41.4 million, up 32.6%, which was below the revenue growth rate, while gross margin improved to 59.4% from 55.1% a year earlier [2] - Operating margin rose to 9% from 1.7% in the prior year, attributed to scalability in the cost structure as the patient affordability business grew [2][3] Business Segments - The patient affordability platform delivered nearly $1 billion in assistance to over 840,000 individuals in 2025, with dynamic rules saving clients over $325 million [6][7] - The plasma donor compensation business generated $45.6 million in revenue for 2025, reflecting a 4% increase from $43.9 million in 2024, supported by the addition of 115 net plasma centers [11] Future Outlook - Paysign expects 2026 revenue to be between $106.5 million and $110.5 million, representing 30% to 35% growth, with adjusted EBITDA projected at $30 million to $33 million [5][16] - The company anticipates net income for 2026 to be between $13 million and $16 million, or $0.21 to $0.26 per diluted share [17] Strategic Initiatives - Paysign added 55 programs in 2025, ending the year with 131 active programs across more than 70 patient affordability clients, including relationships with six of the top 10 U.S. pharmaceutical manufacturers [8][6] - The company is awaiting FDA 510(k) review for its donor management system and expects to hear back within the next 60 days [13] Market Position - The company maintains a strong balance sheet, exiting 2025 with $21.1 million in cash and no bank debt, indicating robust financial health [15]