secwatch.observer — SEC 8-K summary
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Issuer:     Paysign, Inc. (PAYS)
CIK:        0001496443
Form:       8-K
Filed at:   2023-05-10T23:59:59+00:00
Accession:  0001683168-23-003122
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Paysign Q1 rev +23% to $10.1M, net loss narrows; Q2 guidance calls for continued growth
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- Q1 2023 revenues $10.1M (+23% YoY); net loss $0.2M improved from $0.3M loss a year ago.
- Adjusted EBITDA $0.7M (down 22% YoY); guided Q2 rev growth 15-20%, Adj. EBITDA growth 5-10%.
- Added 10 plasma centers (total 439); launched 7 pharma copay programs (total 26); gross spend +31%.
- Unrestricted cash $6.4M (down $3.3M from Dec 2022) due to AR build, capex, and $0.7M stock buyback.
- Gross margin fell to 49.8% from 60.8% on higher third-party costs and mix shift toward lower-margin plasma.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1496443/000168316823003122/0001683168-23-003122-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1496443/000168316823003122/paysign_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-003122

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer