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Waystar Holding Corp.

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
$5.74B
P/E (TTM)
47.0
20.2
Dividend Yield
--
52W High
$48.11
52W Low
$28.71
52W Range
7%
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

Q3 2025 Data

Revenue

$268.65M+11.89%
4-Quarter Trend

EPS

$0.18+471.43%
4-Quarter Trend

FCF

$76.15M+8.48%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Month Revenue Growth Revenue reached $795.7M for nine months, marking a strong 13.8% increase over prior year period, driven by subscription.
Profitability Swing Achieved Net income swung to $92.1M profit versus $38.2M loss last year, a massive $130.3M improvement for nine months.
Operating Income Surges Income from operations grew 169.6% to $190.3M for nine months, reflecting improved expense management efficiency.
Client Retention Rate Rises Net Revenue Retention Rate hit 113.1% for twelve months ended September 30, up from 109.4% previously reported.

Risk Factors

Competitive Industry Operation Operation in highly competitive industry poses risk to client retention and new client attraction efforts moving forward.
Evolving Regulatory Framework Uncertain and evolving healthcare regulatory and political framework could negatively impact market conditions and revenues.
Data Security Exposure Platform faces risks from privacy concerns, security breaches, and complex evolving data protection regulations compliance.
Acquisition Integration Uncertainty Ability to accurately assess risks and successfully integrate acquired businesses, including Iodine, remains a key uncertainty.

Outlook

Iodine Acquisition Completed Completed Iodine acquisition for $1.25B total price, including $458.6M cash consideration on October 1, 2025.
Credit Facility Expansion Entered Twelfth Amendment, increasing First Lien Facility by $250.0M and Revolving Facility capacity to $500.0M.
Cash Flow Generation Strong Net cash provided by operating activities increased 131.5% to $243.0M for the nine months ended September 30, 2025.
Future Financing Contingency Liquidity depends on future performance; anticipates needing additional debt or equity financing on acceptable terms if necessary.

Peer Comparison

Revenue (TTM)

Kyndryl Holdings, Inc.KD
$15.07B
-1.5%
EPAM Systems, Inc.EPAM
$5.30B
+14.3%
Genpact LimitedG
$5.01B
+7.4%

Gross Margin (Latest Quarter)

Dolby Laboratories, Inc.DLB
87.1%
-1.7pp
Waystar Holding Corp.WAY
68.3%
+1.9pp
Onto Innovation Inc.ONTO
50.7%
-3.4pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
EPAM$12.05B32.610.1%3.2%
ONTO$10.52B59.99.0%0.6%
AUR$8.87B-10.8-40.4%4.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
3.2%
Moderate Growth
4Q Net Income CAGR
17.1%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 17, 2026
|
EPS:$0.39
|
Revenue:$294.72M
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 29, 2025|
    Revenue: $268.65M+11.9%
    |
    EPS: $0.18+471.4%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 30, 2025|
    Revenue: $270.65M+15.4%
    |
    EPS: $0.19-211.8%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 30, 2025|
    Revenue: $256.44M+14.1%
    |
    EPS: $0.17-277.8%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 18, 2025|
    Revenue: $943.55M+19.3%
    |
    EPS: $-0.13+58.1%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 6, 2024|
    Revenue: $240.11M+21.7%
    |
    EPS: $0.03-133.9%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 7, 2024|
    Revenue: $234.54M+19.7%
    |
    EPS: $-0.17+161.9%
    Miss