10-K Filing

PAYSIGN, INC. CIK: 1496443 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001683168-24-001729`
Period End Date	20231231
Filing Date	20240327
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	paysign_i10k-123123_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 30 Cash Flow Statement 58 Stockholders Equity 14

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash	`Cash`	$16.99M	USD	Point-in-time
Cash	`Cash`	$9.71M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCash`	$92.36M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$80.19M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$16.22M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.68M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other receivables	`OtherReceivables`	$1.44M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Other receivables	`OtherReceivables`	$1.59M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	53.45M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	52.65M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.70M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.02M	USD	Point-in-time
Treasury stock shares	`TreasuryStockCommonShares`	698,008.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$129.18M	USD	Point-in-time
Treasury stock shares	`TreasuryStockCommonShares`	303,450.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$97.72M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$1.26M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$1.09M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$8.81M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$5.66M	USD	Point-in-time
Operating lease right-of-use asset	`OperatingLeaseRightOfUseAsset`	$3.61M	USD	Point-in-time
Operating lease right-of-use asset	`OperatingLeaseRightOfUseAsset`	$3.22M	USD	Point-in-time
Deferred tax asset, net	`DeferredIncomeTaxAssetsNet`	$4.30M	USD	Point-in-time
Deferred tax asset, net	`DeferredIncomeTaxAssetsNet`	-	USD	Point-in-time
Total assets	`Assets`	$146.60M	USD	Point-in-time
Total assets	`Assets`	$108.24M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.09M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$26.52M	USD	Point-in-time
Operating lease liability, current portion	`OperatingLeaseLiabilityCurrent`	$383.70K	USD	Point-in-time
Operating lease liability, current portion	`OperatingLeaseLiabilityCurrent`	$361.41K	USD	Point-in-time
Customer card funding	`ContractWithCustomerLiabilityCurrent`	$92.28M	USD	Point-in-time
Customer card funding	`ContractWithCustomerLiabilityCurrent`	$80.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$88.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$119.18M	USD	Point-in-time
Operating lease liability, long-term portion	`OperatingLeaseLiabilityNoncurrent`	$2.93M	USD	Point-in-time
Operating lease liability, long-term portion	`OperatingLeaseLiabilityNoncurrent`	$3.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$122.11M	USD	Point-in-time
Total liabilities	`Liabilities`	$91.95M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock: $0.001 par value; 25,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock: $0.001 par value; 25,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.001 par value; 150,000,000 shares authorized, 53,452,382 and 52,650,382 issued at December 31, 2023 and 2022, respectively	`CommonStockValue`	$53.45K	USD	Point-in-time
Common stock; $0.001 par value; 150,000,000 shares authorized, 53,452,382 and 52,650,382 issued at December 31, 2023 and 2022, respectively	`CommonStockValue`	$52.65K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.14M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.00M	USD	Point-in-time
Treasury stock at cost, 698,008 shares and 303,450 shares, respectively	`TreasuryStockValue`	$1.28M	USD	Point-in-time
Treasury stock at cost, 698,008 shares and 303,450 shares, respectively	`TreasuryStockValue`	$150.00K	USD	Point-in-time
Retained earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-2.75M	USD	Point-in-time
Retained earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$3.71M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$16.29M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$12.99M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$24.49M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$108.24M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$146.60M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$38.03M	USD	Annual
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$47.27M	USD	Annual
Cost of revenues	`CostOfGoodsAndServicesSold`	$17.08M	USD	Annual
Cost of revenues	`CostOfGoodsAndServicesSold`	$23.14M	USD	Annual
Gross profit	`GrossProfit`	$24.14M	USD	Annual
Gross profit	`GrossProfit`	$20.95M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$20.28M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$17.70M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.91M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.03M	USD	Annual
Total operating expenses	`OperatingExpenses`	$24.30M	USD	Annual
Total operating expenses	`OperatingExpenses`	$20.61M	USD	Annual
(Loss) income from operations	`OperatingIncomeLoss`	$344.33K	USD	Annual
(Loss) income from operations	`OperatingIncomeLoss`	$-167.25K	USD	Annual
Interest income, net	`InterestAndOtherIncome`	$790.92K	USD	Annual
Interest income, net	`InterestAndOtherIncome`	$2.53M	USD	Annual
Income before income tax (benefit) provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.14M	USD	Annual
Income before income tax (benefit) provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.36M	USD	Annual
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$-4.09M	USD	Annual
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$107.48K	USD	Annual
Net income	`NetIncomeLoss`	$6.46M	USD	Annual
Net income	`NetIncomeLoss`	$1.03M	USD	Annual
Basic	`EarningsPerShareBasic`	$0.02	USD	Annual
Basic	`EarningsPerShareBasic`	$0.12	USD	Annual
Diluted	`EarningsPerShareDiluted`	$0.12	USD	Annual
Diluted	`EarningsPerShareDiluted`	$0.02	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	52.49M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	52.05M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	54.16M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	52.93M	shares	Annual

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.03M	USD	Annual
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$6.46M	USD	Annual
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$2.85M	USD	Annual
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$2.28M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$2.91M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$4.03M	USD	Annual
Noncash lease expense	`OtherNoncashExpense`	$378.82K	USD	Annual
Noncash lease expense	`OtherNoncashExpense`	$399.81K	USD	Annual
Gain on disposal of assets	`GainLossOnDispositionOfAssets`	$4.86K	USD	Annual
Gain on disposal of assets	`GainLossOnDispositionOfAssets`	-	USD	Annual
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	-	USD	Annual
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$-4.30M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.29M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.54M	USD	Annual
Other receivables	`IncreaseDecreaseInOtherReceivables`	$420.03K	USD	Annual
Other receivables	`IncreaseDecreaseInOtherReceivables`	$146.73K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$320.97K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$456.84K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$18.46M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.32M	USD	Annual
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-340.41K	USD	Annual
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-361.41K	USD	Annual
Customer card funding	`IncreaseDecreaseInContractWithCustomerLiability`	$12.09M	USD	Annual
Customer card funding	`IncreaseDecreaseInContractWithCustomerLiability`	$18.91M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$27.62M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$25.32M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$262.56K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$105.19K	USD	Annual
Capitalization of internally developed software	`PaymentsToDevelopSoftware`	$6.79M	USD	Annual
Capitalization of internally developed software	`PaymentsToDevelopSoftware`	$3.80M	USD	Annual
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$185.00K	USD	Annual
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.05M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.09M	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.60K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.13M	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.12M	USD	Annual
Net change in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$19.45M	USD	Annual
Net change in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$21.23M	USD	Annual
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$68.67M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$109.35M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$89.90M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$89.90M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$109.35M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$68.67M	USD	Point-in-time
Cash	`Cash`	$16.99M	USD	Point-in-time
Cash	`Cash`	$9.71M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$92.36M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$80.19M	USD	Point-in-time
Total cash and restricted cash	`RestrictedCashAndCashEquivalents`	$89.90M	USD	Point-in-time
Total cash and restricted cash	`RestrictedCashAndCashEquivalents`	$109.35M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$221.00	USD	Annual
Interest paid	`InterestPaidNet`	-	USD	Annual
Cash paid for taxes	`IncomeTaxesPaidNet`	$35.95K	USD	Annual
Cash paid for taxes	`IncomeTaxesPaidNet`	$207.94K	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$16.29M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$12.99M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$24.49M	USD	Point-in-time
Stock issued upon vesting of restricted stock	`StockIssuedUponVestingOfRestrictedStock`	-	USD	Annual
Stock issued upon vesting of restricted stock	`StockIssuedUponVestingOfRestrictedStock`	-	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$9.60K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.85M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.28M	USD	Annual
Net income	`NetIncomeLoss`	$6.46M	USD	Annual
Net income	`NetIncomeLoss`	$1.03M	USD	Annual
Repurchase of common stock	`StockRepurchasedDuringPeriodValue`	$1.13M	USD	Annual
Ending balance, value	`StockholdersEquity`	$16.29M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$12.99M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$24.49M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.