PaySign, Inc. (NASDAQ:PAYS) Q4 2022 Earnings Call Transcript

Peter Heckmann: Okay. Alright. And then last one for me is it sounds like there is some move within Canada to start compensating the donation of plasma, and maybe you have already started a pilot program there, but do you see opportunity there, or would that require a significant investment to accommodate the Canadian market?

Mark Newcomer: Yes. We certainly could. I don’t know what the numbers actually €“ we would have to do an analysis to see if that’s going to meet the needs and compare what the numbers are. But yes, there would be an investment in order to support that market for sure.

Jeff Baker: Right now, I mean Pete, if you go and you look at the number of plasma centers that are in Canada, they are fairly benign. So, there would have to be a huge investment there. And we are looking to other areas to build out our plasma centers. So, we will add more in the first quarter than Canada will probably add all next €“ all this year, so.

Peter Heckmann: That’s fair. Alright. Appreciate it.

Operator: Our next question is coming from Jon Hickman from Ladenburg Thalmann. Your line is now live.

Jon Hickman: Hi. Just one quick question. If you guys add 45 to 55 new centers this year, what percentage of the market will that give you? It seems like it would be over 50% now.

Jeff Baker: No, Jon, those €“ the latest figures that we have out there is just under 1,100 centers in the U.S. We exited at 40 €“ 444 centers. I did the math for the 10-K, we had to disclose it. It was around 40%. So, if we add another €“ yes. So, if we add another 45 to 55, less the 16 that we are going to lose, so what’s that, put us around 29 to 39. So, we are probably going to hold market share because there is other €“ they open up about 100 centers a year in the U.S., give or take.

Jon Hickman: Okay. Thanks.

Mark Newcomer: Yes.

Operator: Thank you. We reached the end of our question-and-answer session. I would like to turn the floor back over to management for any further or closing comments.

Mark Newcomer: Thanks Kevin. Want to thank everybody this evening for joining us. A special thanks goes out to all of our employees and to our Board for the support that we have had and the support that we will get through 2023. I believe that 2023 will be an exciting year for Paysign, and we are looking forward to updating you on the next call. Thank you all very much and have a great day.

Operator: Thank you. That does conclude today’s teleconference and webcast. You may disconnect your line at this time and have a wonderful day. We thank you for your participation today.