In a recent transaction on September 24, Paysign, Inc. (NASDAQ:PAYS) CEO Mark Newcomer sold 50,000 shares of the company's common stock. The transaction was executed at a weighted average price of $4.1808 per share, amounting to a total sale value of approximately $209,039.
The shares were sold at varying prices within the range of $4.1401 to $4.2450. As disclosed in the transaction footnotes, Newcomer has committed to providing detailed information about the number of shares sold at each price point upon request. This sale was conducted under a Rule 10b5-1 trading plan, which Newcomer had previously adopted on June 12, 2024.
Following the sale, CEO Mark Newcomer still owns a significant stake in the company, with 9,436,886 shares remaining in his possession. This latest stock transaction provides investors with updated insights into executive movements at Paysign, a company specializing in business services within the Nevada region.
In other recent news, Paysign Inc. has reported a strong Q2 2024 performance, with a noteworthy 30% year-on-year increase in revenue to $14.3 million. The company's adjusted EBITDA also saw a significant rise, up by 96% to $2.24 million. This growth was largely driven by the patient affordability business, which saw a remarkable 267% surge in revenue.
Paysign Inc. also revealed plans to expand its plasma donor compensation business, with the addition of 5 to 10 new plasma centers by year's end. The company has revised its full-year 2024 revenue guidance upward to between $56.5 million and $58.5 million.
Despite the need for additional personnel to support their growth, Paysign Inc. remains optimistic about its future, expecting gross profit margins to be between 54% and 55%. The company is also anticipating a net income between $2 million and $3 million, with adjusted EBITDA projected to be in the range of $9 million to $10 million.
These are the latest developments for Paysign Inc., a company that continues to show robust growth and a positive outlook in its operational cash flow to support future ambitions.
InvestingPro Insights
Paysign, Inc.'s (NASDAQ:PAYS) recent executive stock transaction comes at a time when the company is experiencing a mix of financial indicators. According to InvestingPro data, Paysign boasts a market capitalization of approximately $220.52 million. The company's Price/Earnings (P/E) Ratio stands at 29.03, indicating investors are willing to pay $29.03 for every dollar of earnings, which is slightly above the adjusted P/E ratio of 29.9 for the last twelve months as of Q2 2024. This valuation is complemented by a robust Revenue Growth of 26.45% over the same period, showcasing the company's increasing ability to generate sales.
Despite CEO Mark Newcomer's recent sale of shares, Paysign has demonstrated significant growth in its stock value over the past year, with a Year-to-Date Price Total Return of an impressive 50.0% and a 1 Year Price Total Return of 114.29%. These figures are particularly noteworthy, considering the stock has experienced a decline of 13.76% over the last month. This volatility is reflected in the company's Price to Book ratio, which at 8.31 suggests the stock might be trading at a premium compared to its book value.
InvestingPro Tips highlight that while analysts predict Paysign will be profitable this year, the company's net income is expected to drop. It's also noteworthy that Paysign does not pay dividends to shareholders, which could influence investment decisions for those seeking regular income streams from their investments. For a more comprehensive analysis, there are additional InvestingPro Tips available that could offer further insight into Paysign's financial health and future prospects.
Investors looking to understand the full picture of Paysign's performance and potential can access more detailed analysis and tips on InvestingPro, which currently lists several additional tips for the company.
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