Paysign, Inc.(PAYS)Stock Analysis
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Rank #442 of 2,879 stocksTOP 25%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
PAYS Stock Analysis & AI Quality Score
AI stock analysis and institutional research for Paysign, Inc. (PAYS), a Industrials sector company. 13F Pro's AI-powered ranking engine scores PAYS at 67.9/100 on a 32-signal composite quality model, placing it at rank #442 of 2,879 stocks — the top 25% of the AI-ranked universe. PAYS scores in the top quartile across earnings quality (96.5), revenue growth (89.6), free cash flow (82.8). Areas of concern include revenue scale (16.0), which score below median versus the broader universe. Shareholder dilution risk is elevated at 25.3/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), Paysign, Inc. reports quarterly revenue of $28.0M, net income of $5.4M, free cash flow of $18.5M. Top institutional holders of PAYS by reported 13-F value include Topline Capital Management,, BlackRock,, PUNCH & ASSOCIATES INVESTMENT MANAGEMENT,, based on the most recent SEC filings. PAYS trades on the Nasdaq exchange and files with the SEC under CIK 1496443. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate PAYS daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Paysign, Inc. directly from SEC EDGAR. Paysign, Inc.'s 13F Pro composite quality score has ranged between 22 and 68 since 2022, currently 67.9 — an improving long-term trajectory across 29 quarterly and live scoring snapshots.
What's Driving PAYS's Business? Latest 10-Q Breakdown
AI-extracted from Paysign, Inc.'s 10-Q filed 2026-05-13 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Paysign revenue surged 50.8% YoY to $28.0M in Q1 2026, driven by 81.9% growth in pharma patient affordability programs and 24.9% growth in plasma card volumes.
Biggest Revenue Drivers
Total revenue: $28.0M+50.8% YoY
45 net pharma patient affordability programs launched in prior twelve months driving setup fees, monthly management fees, claim processing fees and other billable services.
89 net plasma centers added during prior twelve-month period and increase in plasma donations and dollars loaded to cards as market returned to normalized growth.
Growth and usage in payroll, retail and corporate incentive programs; includes breakage and settlement income.
Largest Expense Items
Increased call center support (~$901K), network/related fees (~$1.8M) from program expansion, and sales commission expense (~$266K).
Compensation (+$180K), stock-based compensation (+$612K), platform security investments, rent and conferences; offset by lower acquisition costs.
Amortization of Gamma intangible assets, continued capitalization of software development, and equipment purchases for platform enhancements.
Watch Items from the Filing
- Two pharma patient affordability customers represented 16% and 15% of accounts receivable at Q1 2026; one customer represented 31% at year-end 2025. High customer concentration risk in growing pharma segment.
- Excess cash maintained with single financial institution is $3.5M above FDIC insured limits at Q1 2026 vs. $1.4M at year-end 2025; company relies on reciprocal deposit network for FDIC coverage.
- Gamma Innovation acquisition contingent earn-out of up to $990K in stock based on achieving gross revenue performance targets through March 2030; earn-out revised downward from $3.2M during 2025.
- Pharma claims processed increased 49% YoY; company is highly dependent on pharma patient affordability programs which now represent 56% of total revenue.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q1 2026
$28.0M
Net Income
Q1 2026
$5.4M
Free Cash Flow
Q1 2026
$18.5M
D/E Ratio
Q1 2026
0.11
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+40.5% YoYNet Income
+97.9% YoYOperating Income
+620.8% YoYEPS (Diluted)
+85.7% YoYTotal Assets
+54.3% YoYTotal Debt
Op. Cash Flow
+128.6% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue | $82.0M +40.5% | $58.4M +23.5% | $47.3M +24.3% | $38.0M +29.1% | $29.5M -15.0% | $34.7M |
| Net Income | $7.6M +97.9% | $3.8M -40.9% | $6.5M +528.4% | $1.0M +137.8% | $-2.7M -136.5% | $7.5M |
| Operating Income | $7.4M +620.8% | $1.0M +710.7% | $-167.3K -148.6% | $344.3K +112.6% | $-2.7M -144.9% | $6.1M |
| EPS (Diluted) | $0.13 +85.7% | $0.07 -41.7% | $0.12 +500.0% | $0.02 +140.0% | $-0.05 -135.7% | $0.14 |
| Total Assets | $276.3M +54.3% | $179.0M +22.1% | $146.6M +35.4% | $108.2M +28.8% | $84.1M +57.0% | $53.5M |
| Total Debt | $8.0M | $0.00 | — | — | — | — |
| Operating Cash Flow | $52.5M +128.6% | $22.9M -16.9% | $27.6M +9.1% | $25.3M +66.3% | $15.2M -8.9% | $16.7M |
AI Insight: PAYS Financial Trends
Revenue accelerated 22% year-over-year to $28M in Q1 2026 while operating income doubled to $7M, signaling improved unit economics.
• Revenue grew from $19M (Q1 2025) to $28M (Q1 2026), +47% YoY; operating income expanded from $2M to $7M over same period.
• Net income surged to $5M in Q1 2026 versus $1M–$3M prior quarters; operating cash flow reached $48M in Q4 2025.
• Total debt declined from $10M (Q1 2025) to $6M (Q1 2026); equity strengthened to $55M, improving leverage profile.
⚠ Net income volatility persists: $5M in Q1 2026 but only $1M in Q2/Q4 2025 despite stable/rising revenue—operational consistency unclear.
⚠ Operating cash flow highly erratic ($-20M to $48M range); Q1 2026 spike may not sustain without corroboration next quarter.
AI Insight: PAYS Ratio Trends
Q1 2026 profitability surged dramatically—operating margin jumped to 23.8% and ROIC reached 43.6%, signaling a major operational inflection.
• Operating margin expanded from 8.2% in Q4 2025 to 23.8% in Q1 2026; NPM rose from 6.0% to 19.4% same period.
• ROIC climbed to 43.6% in Q1 2026 from 13.1% in Q4 2025, highest in dataset; ROA reached 7.0%, best on record.
• Leverage remained modest at 0.11 D/E in Q1 2026, down from 0.17–0.25 range in prior four quarters.
⚠ Q1 2026 metrics represent single-quarter peak; sustainability unclear given Q2–Q4 2025 volatility (OpMargin 7.3–8.2%, ROIC 11.5–13.1%).
⚠ ROE and ROA remain subject to quarterly swings; TTM ROE 18.9% lags Q1 2026's 39.6%, suggesting normalization risk.
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Top Institutional Holders of PAYS
Topline Capital Management, LLC
$27.4M4,639,061 shBlackRock, Inc.
$13.9M2,351,648 shPUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC.
$12.1M2,058,210 shRENAISSANCE TECHNOLOGIES LLC
$9.0M1,531,072 shVANGUARD CAPITAL MANAGEMENT LLC
$8.8M1,485,858 shPalisades Investment Partners, LLC
$5.9M993,896 shGEODE CAPITAL MANAGEMENT, LLC
$4.9M828,089 shROYCE & ASSOCIATES LP
$4.6M778,183 shSTATE STREET CORP
$3.8M644,467 shJoule Financial, LLC
$3.6M614,175 sh
| Fund | Value | Shares |
|---|---|---|
| Topline Capital Management, LLC | $27.4M | 4,639,061 |
| BlackRock, Inc. | $13.9M | 2,351,648 |
| PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. | $12.1M | 2,058,210 |
| RENAISSANCE TECHNOLOGIES LLC | $9.0M | 1,531,072 |
| VANGUARD CAPITAL MANAGEMENT LLC | $8.8M | 1,485,858 |
| Palisades Investment Partners, LLC | $5.9M | 993,896 |
| GEODE CAPITAL MANAGEMENT, LLC | $4.9M | 828,089 |
| ROYCE & ASSOCIATES LP | $4.6M | 778,183 |
| STATE STREET CORP | $3.8M | 644,467 |
| Joule Financial, LLC | $3.6M | 614,175 |
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Popular Research
Is PAYS a good stock to buy?
13F Pro's AI-powered analysis of Paysign, Inc. (PAYS) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Industrials sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for PAYS are available on the PAYS stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own PAYS?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling PAYS. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Paysign, Inc.'s investment landscape.