PAID, Inc.

What they do

PAID, Inc. provides integrated e-commerce and shipping solutions through its ShipTime, PaidPayments, PaidCart, PaidShipping, PaidWeb, and Warehowz platforms. ShipTime offers multi-carrier shipping quote, label generation, tracking, and discounted rates. The Paid suite includes payment processing, online storefront, and shipping tools, while Warehowz is an on-demand warehousing and fulfillment marketplace.

Revenue drivers

• ShipTime — The key revenue driver, generating monthly revenue through transaction-based fees and SaaS subscriptions for shipping and freight services.
• PaidPayments — Payment processing services with monthly fees, transaction fees, and SaaS subscriptions, supporting USD, CAD, and EUR.
• PaidShipping — Multi-carrier shipping platform with SaaS subscriptions, offering discounted rates and integrations with e-commerce platforms.
• Warehowz — Marketplace for on-demand warehousing and fulfillment, generating revenue through marketplace fees or commissions.

Recent performance

Revenue for fiscal 2025 was $20.7M, up from $18.6M in 2024, but net income swung to a loss of $368,243 in 2025 from a profit of $763,592 in 2024. Operating cash flow was negative at -$53,171 in 2025. Quarterly revenue has been stable around $5.3M–$5.5M for the last four quarters. As of March 31, 2026, cash and equivalents were $951,698, with total assets of $8.4M and shareholder equity of $5.6M.

Strategy

Management's stated focus for 2026 is to continue growing the ShipTime business while building out the Paid platform of e-commerce products. The strategy is to offer integrated solutions to small and medium enterprises, enhancing value for channel partners and customers. They aim to use this integrated platform to cost-effectively enter new markets. The company also emphasizes developing relationships with carriers and e-commerce service providers.

Risks

• Operating losses and profitability risk — The company has reported substantial operating losses since 1999, including a net loss in 2025, and there is no assurance of future profitability.
• Limited capital and financing needs — The company may need additional financing to fund operations; its cash position as of March 31, 2026 was under $1 million, and raising equity would dilute shareholders.
• Dependence on notes receivable — The company has notes receivable that could become uncollectible, which could result in a significant loss and litigation.
• Competitive market risks — Competitors may develop superior shipping, payment, or e-commerce tools, and pricing pressure with carriers could erode margins.

Outlook

Management states they have sufficient capital to fund operations for the next 12 months based on the December 31, 2025 cash position. The focus for 2026 is to grow ShipTime while expanding the Paid platforms. They aim to increase revenues and achieve profitability, but caution that higher-than-anticipated costs or failure to attract enough customers could thwart these efforts.