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Waystar Holding Corp. logo

Waystar Holding Corp.

WAY

NASDAQHealthcareMedical - Healthcare Information Services

Open in GoAI

Previous close

$25.01

+$0.17 · +0.68%

Aug 21, 4:00 PM ET

WAY company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

90

Deep Value

Momentum

39

Weakening

Sentiment

70

Bullish

Risk resilience

45

Elevated Risk

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Company profile

Company website

Waystar Holding Corp. is dedicated to developing a cloud-based software platform designed to streamline financial transactions within the healthcare industry. Their comprehensive system offers a suite of functionalities, including pre-approving finances, supporting patients with billing, overseeing claims and payments, actively preventing and recovering denied claims, enhancing revenue capture, and providing insightful analytics and reporting. The company's main clientele operates within the healthcare sector. Established in 2017, Waystar Holding Corp. is headquartered in Lehi, Utah.

Industry
Medical - Healthcare Information Services
Sector
Healthcare
Headquarters
US
CEO
Matthew J. Hawkins
Listed since
Jun 7, 2024
Employees
1,700

Market position

Day range

Current $25.01

52-week range

Current $25.01

Open
$24.65
Previous close
$24.84
Volume
2.54M
0.93× average
Average volume
2.72M
Average daily volume
Market cap
4.8B USD
Beta
0.07
Market reference 1
50-day average
$22.1119
+13.11% above average
200-day average
$25.8037
-3.08% below average

Financials

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends82%49%16%-16%Gross margin, FY2021: 73.77%Gross margin, FY2022: 69.51%Gross margin, FY2023: 68.42%Gross margin, FY2024: 66.54%Gross margin, FY2025: 68.33%Operating margin, FY2021: 10.42%Operating margin, FY2022: 12.69%Operating margin, FY2023: 17.96%Operating margin, FY2024: 13.11%Operating margin, FY2025: 22.68%Net margin, FY2021: -8.14%Net margin, FY2022: -7.30%Net margin, FY2023: -6.49%Net margin, FY2024: -2.03%Net margin, FY2025: 10.20%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 73.77%. Gross margin FY2022 69.51%. Gross margin FY2023 68.42%. Gross margin FY2024 66.54%. Gross margin FY2025 68.33%. Operating margin FY2021 10.42%. Operating margin FY2022 12.69%. Operating margin FY2023 17.96%. Operating margin FY2024 13.11%. Operating margin FY2025 22.68%. Net margin FY2021 -8.14%. Net margin FY2022 -7.30%. Net margin FY2023 -6.49%. Net margin FY2024 -2.03%. Net margin FY2025 10.20%.

Income trends

Revenue

1.1B USD+16.50%

Operating income

249.31M USD+101.50%

Net income

112.09M USD+131.21M USD
Income trends across reported periods1.21B USD754.06M USD293.76M USD−166.53M USDRevenue, FY2021: 578.57M USDRevenue, FY2022: 704.87M USDRevenue, FY2023: 791.01M USDRevenue, FY2024: 943.55M USDRevenue, FY2025: 1.1B USDOperating income, FY2021: 60.32M USDOperating income, FY2022: 89.45M USDOperating income, FY2023: 142.08M USDOperating income, FY2024: 123.73M USDOperating income, FY2025: 249.31M USDNet income, FY2021: −47.12M USDNet income, FY2022: −51.46M USDNet income, FY2023: −51.33M USDNet income, FY2024: −19.13M USDNet income, FY2025: 112.09M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 578.57M USD. Revenue FY2022 704.87M USD. Revenue FY2023 791.01M USD. Revenue FY2024 943.55M USD. Revenue FY2025 1.1B USD. Operating income FY2021 60.32M USD. Operating income FY2022 89.45M USD. Operating income FY2023 142.08M USD. Operating income FY2024 123.73M USD. Operating income FY2025 249.31M USD. Net income FY2021 −47.12M USD. Net income FY2022 −51.46M USD. Net income FY2023 −51.33M USD. Net income FY2024 −19.13M USD. Net income FY2025 112.09M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue1.1B USD943.55M USD791.01M USD704.87M USD578.57M USD
Cost of goods sold348.16M USD315.73M USD249.77M USD214.89M USD151.77M USD
Gross profit751.12M USD627.82M USD541.24M USD489.98M USD426.8M USD
Research and development54.62M USD48.78M USD35.33M USD32.81M USD28.34M USD
Selling, general, and administrative306.64M USD268.69M USD187.36M USD184.56M USD162.09M USD
Operating expenses501.81M USD504.09M USD399.16M USD400.53M USD366.48M USD
Interest expense77.54M USD146.27M USD205.92M USD155.33M USD127.01M USD
Depreciation and amortization140.55M USD186.63M USD176.47M USD183.17M USD176.06M USD
Operating income249.31M USD123.73M USD142.08M USD89.45M USD60.32M USD
Net income112.09M USD−19.13M USD−51.33M USD−51.46M USD−47.12M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
70%
7 beats, 2 misses, 1 met estimate
Average EPS surprise
+41.73%
10 comparable reports
Latest EPS result
0.43
Estimate 0.4 · Beat by 8.04%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.470.360.240.13Q1 '25BeatQ2 '25MetQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 18, 2025: actual 0.29, estimate 0.15, surprise +93.33%, Beat. Q2 2025, reported Apr 30, 2025: actual 0.32, estimate 0.32, surprise 0.00%, Met estimate. Q3 2025, reported Jul 30, 2025: actual 0.36, estimate 0.33, surprise +9.09%, Beat. Q4 2025, reported Oct 29, 2025: actual 0.37, estimate 0.34, surprise +8.82%, Beat. Q1 2026, reported Feb 17, 2026: actual 0.36, estimate 0.39, surprise -7.69%, Miss. Q2 2026, reported Apr 29, 2026: actual 0.42, estimate 0.39, surprise +7.69%, Beat. Q3 2026, reported Jul 29, 2026: actual 0.43, estimate 0.398, surprise +8.04%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 0.41, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates336.25M301.22M266.2M231.17MQ1 '25MissQ2 '25BeatQ3 '25BeatQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 18, 2025: actual 244.1M USD, estimate 248.47M USD, surprise -1.76%, Miss. Q2 2025, reported Apr 30, 2025: actual 256.44M USD, estimate 253.99M USD, surprise +0.96%, Beat. Q3 2025, reported Jul 30, 2025: actual 270.65M USD, estimate 256.12M USD, surprise +5.68%, Beat. Q4 2025, reported Oct 29, 2025: actual 268.65M USD, estimate 294.72M USD, surprise -8.85%, Miss. Q1 2026, reported Feb 17, 2026: actual 303.54M USD, estimate 294.79M USD, surprise +2.97%, Beat. Q2 2026, reported Apr 29, 2026: actual 313.87M USD, estimate 311.73M USD, surprise +0.69%, Beat. Q3 2026, reported Jul 29, 2026: actual 319.67M USD, estimate 316.21M USD, surprise +1.10%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 323.32M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Rating distribution

17 ratings
Strong buy16%
Buy1694%
Hold00%
Sell00%
Strong sell00%

WAY news

defenseworld.net

Waystar Holding Corp. $WAY Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System grew its holdings in Waystar Holding Corp. (NASDAQ: WAY) by 32.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission…

Read source
zacks.com

Waystar (WAY) Upgraded to Buy: What Does It Mean for the Stock?

Waystar (WAY) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Read source
zacks.com

WAY vs. ADSK: Which Stock Is the Better Value Option?

Investors interested in stocks from the Internet - Software sector have probably already heard of Waystar Holding (WAY) and Autodesk (ADSK). But which of these two stocks presents investors with the better value…

Read source
seekingalpha.com

Waystar Holding Corp. (WAY) Q2 2026 Earnings Call Transcript

Waystar Holding Corp. (WAY) Q2 2026 Earnings Call Transcript

Read source
marketbeat.com

Waystar Q2 Earnings Call Highlights

Waystar NASDAQ: WAY reported second-quarter 2026 revenue of $320 million, up 18% from a year earlier, and adjusted EBITDA of $137 million, representing a 43% margin. Chief Executive Officer Matt Hawkins said the…

Read source
zacks.com

Waystar (WAY) Reports Q2 Earnings: What Key Metrics Have to Say

Although the revenue and EPS for Waystar (WAY) give a sense of how its business performed in the quarter ended June 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the…

Read source

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ETFs holding WAY

Funds reporting this stock among their holdings, ordered by reported position size.

iShares Core S&P Small-Cap ETF logoiShares Core S&P Small-Cap ETFIJR
Market value
172.75M
Weight
0.15%
AUM
111.19B USD
Expense ratio
0.06%
Price / 1D
$147.31+0.64%
Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
77.83M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
71.46M
Weight
0.09%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
Vanguard Morningstar Small-Cap ETF logoVanguard Morningstar Small-Cap ETFVB
Market value
55.79M
Weight
0.03%
AUM
183.4B USD
Expense ratio
0.03%
Price / 1D
$304.76+0.64%
Vanguard Morningstar Small-Cap Growth ETF logoVanguard Morningstar Small-Cap Growth ETFVBK
Market value
32.31M
Weight
0.07%
AUM
43.8B USD
Expense ratio
0.05%
Price / 1D
$358.65+0.70%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
27.99M
Weight
0.03%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
State Street SPDR Portfolio S&P 600 Small Cap ETF logoState Street SPDR Portfolio S&P 600 Small Cap ETFSPSM
Market value
26.85M
Weight
0.16%
AUM
17.03B USD
Expense ratio
0.03%
Price / 1D
$57.28+0.61%
iShares S&P Small-Cap 600 Growth ETF logoiShares S&P Small-Cap 600 Growth ETFIJT
Market value
26.23M
Weight
0.31%
AUM
8.22B USD
Expense ratio
0.18%
Price / 1D
$173.9+0.61%

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