Mark Newcomer, CEO of Paysign Inc. (NASDAQ:PAYS), has sold a significant portion of his shares in the company, according to a recent SEC filing. The transactions, carried out on December 9 and 10, involved the sale of a total of 100,000 shares of common stock. The shares were sold at prices ranging from $3.1566 to $3.3079 per share, amounting to a total value of approximately $323,660. The sale comes as the company, currently valued at $170.55 million, has shown mixed performance with a 13.93% gain year-to-date despite recent price weakness. According to InvestingPro analysis, the stock appears to be trading near its Fair Value.
Following these transactions, Newcomer retains ownership of 9,136,886 shares. The sales were executed under a pre-established Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan for trading stocks to avoid potential insider trading violations. While the company maintains profitability with a gross margin of 53.37%, InvestingPro subscribers have access to 8 additional key insights and a comprehensive Pro Research Report, offering deeper analysis of PAYS's financial health and growth prospects.
In other recent news, Paysign, Inc. announced a significant 23% year-over-year revenue increase to $15.3 million in its third-quarter earnings call, with a 20.6% rise in adjusted EBITDA to $2.8 million. The growth was largely driven by the company's patient affordability business, which surged by 219% with 66 active programs. Furthermore, Paysign revealed plans to expand program offerings, including a new partnership with a prominent pharmaceutical firm. Despite challenges in the plasma business and ongoing investments, Paysign maintains an optimistic outlook with expected annual revenues between $56.5 million and $58.5 million and a net income guidance of $3 million to $3.5 million. The company also anticipates year-over-year revenue growth of 20% to 24% and has $3.5 million remaining in its share repurchase program. These recent developments show Paysign's strategic focus on patient affordability and its ability to efficiently onboard new and established drug programs.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.