Paysign Raises FY24 Total Revenues Forecast From $54.5M - $56.7M To $56.5M -$58.5M (Est $56.818M)
Portfolio Pulse from Benzinga Newsdesk
Paysign has raised its FY24 total revenue forecast to $56.5M-$58.5M, up from $54.5M-$56.7M. The company also expects higher gross profit margins of 54.0%-55.0%, driven by increased revenue from its pharma patient affordability business. Net income is projected to be $2.0M-$3.0M, or $0.04-$0.06 per diluted share, and adjusted EBITDA is expected to be $9.0M-$10.0M, or $0.16-$0.18 per diluted share.
July 31, 2024 | 10:32 pm
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POSITIVE IMPACT
Paysign has raised its FY24 revenue forecast and expects higher gross profit margins, driven by increased revenue from its pharma patient affordability business. Net income and adjusted EBITDA projections have also been provided.
The raised revenue forecast and higher expected gross profit margins indicate strong business performance, particularly in the pharma patient affordability segment. This positive outlook is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100