PaySign, Inc. (PAYS), a company providing prepaid card products and processing services, has seen an increase of 7.48% in the premarket trading session. As a result of that, PAYS stock is currently changing hands at $3.16. On Thursday, PAYS stock closed the day at $2.94, after a massive increase of 24.58%. There’s perceived to be no obvious reason for this constant increase in PAYS stock. So, below are discussed some of its recent news.
Q2 2021 financial results
On the 10th of August, PAYS announced the quarterly results for the second quarter of 2021, which ended on 30th June. According to details, the revenue generated by the company during the quarter stood at $6.65 million, as compared to $6.44 million for an equivalent period of 2020. This includes plasma and pharma industries as well as other sectors. The gross profit for the quarter stood at $3.15 million, as compared to $3.30 million for an equivalent period of 2020. The total operating expenses for the quarter stood at $4.08 million, as compared to $3.95 million for the same period of 2020. The net loss for the quarter stood at $0.93 million, while for an equivalent period of 2020, the net loss was $0.21 million. The net loss per basic and diluted share stood at $0.02, while for an equivalent period of 2020, it was $0.00. At the end of the quarter, the company had total assets of $84.77 million, while it had total liabilities of $72.79 million. Mark Newcomer, Paysign CEO, showed his pleasure over the results and said that the company would try to further improve its performance in the future.
Inductions in PAYS
On the 5th of August, PAYS announced the inductions on key leadership posts in the company. Brad Cunningham was inducted as Chief Technology Officer. Brad has more than 17 years of experience in Republic Bank and Trust company. Most recently, he served there as vice president and managing director of IT strategy and services. As MD of IT strategy, his chief focus there was on modernization and reformation of the company. Apart from that, Brad has expertise in the engineering of high availability payment systems with advanced data analytics. Besides Brad, Alan Geiger was inducted as director of relationship management and Richard Graub as director of program management. Paysign president and COO Matthew Lanford welcomed all the inductees and said that their inclusion would fast track Company’s journey toward the development of an innovation-friendly environment.
Top workplace honor
On the 10th of June, PAYS was awarded the Top workplace 2021 honor by the Review-Journal and Business Press. To obtain relevant information about the work environment of a company, a survey comprising employees’ feedback is carried out. Energage, LLC administers this survey. The survey measures 15 different cultural aspects which are perceived to be critically important for the success of a company. Mark Newcomer, Paysign CEO said that the company is honored to be named as top workplace 2021.
What’s ahead for PAYS?
Recent performances reveal an optimistic outlook for PAYS stock. The stock has gained 18.07% during last week. The EPS of the company is also expected to increase by a massive 564% during the next fiscal. So, based on all these figures, it’s totally relevant to say that PAYS stock totally deserves investors’ attention.
