PAYS - Earnings call 3 2023

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Operator

Good afternoon. My name is Kevin, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the PaySign, Inc.

Third Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded.

call basis, financial unless today's on will on GAAP a otherwise comments regarding results PaySign's be The noted. section on Pason's the earnings non-GAAP Investor measures found reported reconciliations SEC to website, Relations the earlier today to which release and can of was includes of our disseminated amounts. paysign.com, GAAP be

materially forth statements detail remind differ our in set the recent today's SEC call those regarding release that performance earnings everyone future from will earnings Actual release, and as summarized of end Information factors Additionally, forward-looking statements. our in more include PaySign's performance. in PaySign's future at to about I'd could that forward-looking like performance could the is filings. affect

February on Please for Mark go pleasure to a earnings release Newcomer, to PaySign's how to X, over Please XXXX. It's Lastly, this turn available of replay now details see Mr. CEO. the call access replay. will call my the until ahead. be

Mark Newcomer

afternoon, for before our briefly third it Chief performance results Thank I'm updates over our share Executive Baker. to everyone. Newcomer, plasma provide you, you. CFO, patient our I pleased and with Thank our on Officer, Mark and Third Kevin. joining Quarter quarter verticals Earnings I'm Jeff you discuss Good and Call. XXXX affordability will PaySign's to financial handing

last business solid growth. million from XX%, with Additionally, delivered XX% by bottom and top to quarter, segments and Matt Turner, question-and-answer President revenue net contributing our of growth up Patient Affordability line quarter will improving the session. third be joining We all to profit with us this year's for $XX.X

third It of from the of the prior new we revenue XXX and plasma are approximately average QX we $X,XXX QX the not center servicing centers. our our at mature. per seen which that added as this existing level We X.X% The any eclipsed pandemic. during and centers on focusing the last growth exited of in We $X,XXX. are a continue XXXX centers. see to should to healthy center quarter, the donor COVID-XX be closures compared to compensation per center year to business experience did quarter last clients donations monthly fully quarter increasing XX increased noted the as milestone XX X.X% total in

believe continue We this we see pattern QX into beyond. will and

forecast As have new a in the a to client result XX in center in to we of year. for scheduled onboards our adjusting been focus, openings are XX new many shift QX as next XXXX of center

further new in the reporting We continue features interactive to including and industry, plasma portal product new value offering. adds collection bring processes, strengthening our

helping engagement milestones. donor the vertical showed With important stickiness clients third special experience. goal quarter, strong improving the the reaching of attention with some The to patient our increasing in user affordability and growth maximize

than release, press our more segment. earn in mentioned quarter we million As saw in revenue this $X top line us this in

excited pipeline of were this we the more year built we number, this are about and next. about the remainder we While into have for excited current

we which transitions. programs, were launched of During the quarter, X X

will substantial with delivering volume for product. midsized manufacturer. began immediately program a in October The in PaySign contract excited resulted be transition largest that for a and launched second One nation's biosimilar identified for of XX-plus an volume. by a This program the manufacturer we that strong result choice being pipeline. This launch a long-term provides This selling has to programs. negotiations I'm year this programs announce portfolio of benefit future for claim second that the the program a is year-long as manufacturer of the completed that especially program was established our pharmaceutical claims very cycle vendor company. all a to and

with us pharmaceutical in Those be consistent manufacturer. the increasing completed launched largest in revenue mature programs to the nation's transition contributing to represented ninth claims entire portfolio and X This October well matter We our are offerings as awarded this volume. our to examples strong has vertical. a vertical. will manufacturer for expertise contracts in of oncology QX programs FDA programs just subject X also pending product growth X This this also few are and wins additional that where launch leading in major approval. and These will

expect our seeing claims we consistent the end year. Overall, double our are increases to of in volume by average and

of October, close at to turn mix, you X and fourth expect points we programs active of this growth some and program patient year-over-year client claim new XX to may it affordability XX the and end give we addition a programs. that around of the you This to the therapeutic volume the now in others launched strong with of represents concentrations I'll With that, class our in acquisition, some over beginning At revenue. programs with overall understanding top this the quarter, are year better and share over plan line vertical. of the information With Jeff. that

Jeffery Baker

of which everyone. Mark. you, afternoon, before market opens the you all in brief, filed shared will Thank the My be and today will information with our comments the all Mark release press be information given Good tomorrow. and XX-Q,

As $X,XXX of Mark our number increase solid month has a not our per in revenue metric versus This XXXX. been center the business, began over quarter COVID-XX pandemic since to X.X%. per $X,XXX, said, grew year-over-year quarter reached we of In across before of and the plasma milestones first our plasma $X,XXX a had a average business.

plasma we customers October. versus programs, in significantly pharma approximately importantly, strategy and to October. with through their with programs In additional new centers exited More QX patient as collections year active We trend active to and shifted X quarter continue an increased. affordability our plasma seen exited the have XX XXX centers patient we've costs have programs with have financing launched expect now as the affordability this XXX currently XX their openings exit business, having

increasing XXX% the versus period million For $X year. last mark, the quarter, affordability patient the revenues third same surpassed

verticals to fruition. come to is care our diversify to strategy other Our business starting into health payment

for increased XX%. or the of financial quarter versus of year, the third same highlights million last of XXXX $X.X period As $XX.X Total revenues the million

XX.X% margin profit quarter the business. XX increased quarter pharma last period during X.X% support X% across due pressures total SG&A to mainly of revenue increasing same $X.X was lack million for quarter with for year, was to period million. versus to during operating drag. $X.X XXX the this inflationary this Gross a last expenses same prepaid year, versus and the exited the XX.X% the growth year We the our to employees XX% with employees which

periods share posted million $X.X net $X.XX of the net $XXX,XXX. for income share. were per we both For versus of income Earnings quarter, per

and per quarter the measure was per compensation for in the adds $X.XX which $X.X non-GAAP a quarter The versus EBITDA, period back adjusted is share or million same second the stock $XX.X last and share count $X.X calculating The used was million million that respectively. diluted diluted for fully share year. share to $X.XX per million, amount diluted EBITDA $XX.X

of shares of $XXX,XXX company, with the our unrestricted $X.X Regarding in increase debt the repurchase million Year-to-date, exited XXX,XXX million of cash and a of the used X the end $X.X $X.X from quarter we XXXX. have million XXXX We a and we common second over stock. health our to quarter increase

quarter slightly and operating which with our fourth continue costs XXXX in of this third improvements equivalent the million, growth the We relative expect expenses reflects to of to revenue year-over-year operating second XX% $X.X quarter to quarter. than better quarter's operating expenses seasonal growth revenue

million million and to We revenue range $XX meet back principally million. adjusted of are question With guidance to our answers. like in March, million call turn the EBITDA $X.X to Kevin provided in to on $XX revenue $X EBITDA that, the be track and would to of be to and I in we range over the for to adjusted

Operator

coming question is first from from Our Prestopino Research. Instructions] Gary [Operator Barrington

Gary Prestopino

kind bit on just of to the I Guys, a call Okay. jumped late. little

the and centers. I around -- narrative of caught So the some

quarter this You added correct? XX is that plasma centers

Mark Newcomer

is That correct.

Gary Prestopino

adding then QX. in how you're only Okay. many

Mark Newcomer

X-ish has we're plasma the significantly have had then about our happened. when for all the safety stopped board, to seen And was them because Gary, from new It's guys it because centers much a -- them. shut the opening we've lot a new is center gone X centers cost added finance the perspective. a of we've customer what's across up What risky pretty others. from adding down too We

to their payouts increasing done instead and opening they've refocus what are number attract of continue attract the centers to of they -- is get new to to So they need, that leaders customers.

Gary Prestopino

Okay.

that So centers applicable? you and any what about contract you to Is said books. going a maybe still And large was hadn't that that won XXXX be event. putting you that, on been really the a new

Mark Newcomer

Mark. it's That out there. Gary, still Yes, is

between informed their some to we've have XX going months. technology However, is probably points. delay that on been with anywhere delays X and organization this they

keep baked should pull I So here. for it's should out. the not us, We that probably think we something into mix

Gary Prestopino

Okay.

players kind these investing a service have to that wouldn't into new to these because static be there's -- know don't the it money their But I'm you of on that line, to Is into of that, have I that so again, hear go assume does kind your pulled back safe as of answers. is we these on XXXX then, expansion correct growth So response more to that lot centers? a trying assumption?

Mark Newcomer

the Well, the there. a money that is what number are seeing new of pullback in you're just openings out

it. I new are. market only of -- are openings. finance what the is about see industry we've what stay quarter, doing, been we're So everything about we the they control we maintaining lands. are is told where there from mean is in mean rate can we're year, our they still end control which save what where in in share, XXXX XXXX, XX I through where We'll this third cost XXXX, can't the doing

supplement I the COVID they're number Our the offset more openings. strategy the and actually would back of like increase to average a up. them as and reduce instead per COVID the saw payout other and do the probably back. world of said levels that things transitioning seeing trying income new an in and month will people was per earlier after you people that to they we're come guess to that go coming because center But were try that payout back because slowdown see revenue their like is payout, our their reduced in the be

win forward strategy. really are But a which on we we market a shift maintain at next the some long of depending share as big year there just it's we'll at XX% in out going contract, pricing. our look should about unless year and as there, So

Operator

our over closing end [Operator back Instructions] We question-and-answer reach to turn the like or session. of floor for further any I'd the comments.

Mark Newcomer

Thank I look today. to next joining thank to quarterly want on We the call. you, seeing forward us everybody Kevin. for you

Operator

That webcast. teleconference conclude Thank and you. does today's

this for your you line thank day. at You today. and may disconnect time, participation We a wonderful your have

PaySign (PAYS) 7 Nov 232023 Q3 Earnings call transcript