Waystar Holding Corp.

NASDAQ•WAY

CEO: Mr. Matthew J. Hawkins

Sector: Technology

Industry: Information Technology Services

Listing Date: 2007-10-16

Waystar Holding Corp. develops a cloud-based software solution for healthcare payments. Its platform offers financial clearance, patient financial care, claim and payment management, denial prevention and recovery, revenue capture, and analytics and reporting solutions. The company primarily serves healthcare industry. Waystar Holding Corp. was founded in 2017 and is based in Lehi, Utah.

Contact Information

1550 Digital Drive, Suite 300, Lehi, UT, 84043, United States

844-492-9782

waystar.com

Market Cap

$4.71B

P/E (TTM)

42.0

18.2

Dividend Yield

52W High

$42.55

52W Low

$21.13

52W Range

16%

Rank49Top 66.7%

3.2

F-Score

Modified Piotroski Analysis

Based on 4-year fundamentals

Weak • 3.2 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2022-2025

Financial Dashboard

Q4 2025 Data

Revenue

$303.54M+0.00%

4-Quarter Trend

EPS

$0.10+0.00%

4-Quarter Trend

FCF

$57.22M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Revenue and Profitability Surge Total Revenue reached $1.10B, up 16.5%; Net Income swung to $112.1M profit from prior year loss.

Strong Recurring Revenue Growth Subscription revenue grew 21.9% to $558.4M; Net Revenue Retention Rate stood strong at 112.0% for 2025.

AI Capabilities Bolstered by Acquisition Completed Iodine acquisition for $1.26B, bolstering proprietary AI leadership and clinical intelligence capabilities.

Client Base Expansion Client count exceeding $100K revenue grew to 1,391, up from 1,203 in 2024, showing strong client adoption.

Risk Factors

High Debt Load Exposure Substantial outstanding indebtedness reached approximately $1.5B, increasing interest rate risk exposure on variable rate debt.

Intense Industry Competition Operate in fragmented market facing competition from large EHR/PM providers and smaller niche technology vendors.

Regulatory and Compliance Complexity Subject to complex, evolving healthcare laws (HIPAA, AKS) creating compliance costs and potential for adverse enforcement actions.

Goodwill Valuation Risk Goodwill balance is $4.0B; impairment risk exists if acquired businesses underperform or macroeconomic conditions worsen.

Outlook

Focus on Existing Client Growth Plan to double revenue from existing clients through cross-sell and up-sell opportunities across current solution set.

Continued AI Platform Investment Heavy investment planned for Waystar platform expansion, leveraging agentic AI for autonomous revenue cycle management.

Expanding Channel Partner Reach Deepen strategic channel partnerships, leveraging EHR/PM providers to access larger client base and accelerate growth.

Capital Structure Flexibility Future capital needs may require additional debt or equity financing, potentially leading to stockholder dilution.

Peer Comparison

Revenue (TTM)

$15.12B

+0.1%

EPAM

$5.46B

+15.4%

$5.08B

+6.6%

Gross Margin (Latest Quarter)

AUR

38000.0%

+0.0pp

DLB

87.5%

-1.0pp

CVLT

81.1%

-0.4pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
ONTO	$9.58B	69.5	6.9%	0.0%
AUR	$8.67B	-10.6	-39.8%	3.6%
GDS	$8.42B	12.2	22.4%	59.7%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

5.8%

Steady Growth

4Q Net Income CAGR

-11.9%

Declining Profitability

Cash Flow Stability

100%

Strong Cash Flow

Deep Research

Next earnings:Apr 28, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data