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Paysign Swings to a Loss, Revenue Falls 40% Missing Wall Street's Expectations

05/11/2021 13:24

05:13 PM EDT, 05/11/2021 (MT Newswires) -- Shares of Paysign (PAYS) were down as much as 4% in Tuesday's after-hours trading following the release of disappointing Q1 results.

Exacerbated by pandemic-related stimulus checks and enhanced unemployment subsidies that resulted in a disincentive to donate plasma, the company reported a loss of $0.03 per share versus a profit of $0.03 per share in the same quarter last year. This compares to the consensus estimate compiled by Capital IQ for a loss of $0.01 per share.

Revenue fell by more than 40% to $6.28 million from $10.58 million a year ago and missed the consensus estimate of $7.24 million.

For 2021, the company forecasts revenue growth of 20% to 32% and to be within the range of $29 million to $32 million vs estimates of $37 million.

Price: 3.3800, Change: -0.14, Percent Change: -3.98