Waystar Holding Corp. WAY
Our mission is to simplify healthcare payments through our modern cloud-based software, enabling our healthcare clients to prioritize patient care and optimize their financial performance.
Waystar provides healthcare organizations with mission-critical AI-powered software that simplifies healthcare payments for providers across the continuum of care. Our enterprise-grade platform streamlines the complex and disparate processes providers must manage to ensure accurate reimbursement and improves the payments experience for providers, patients, and payers. We leverage internally developed AI as well as proprietary, advanced algorithms to automate payment-related workflow tasks and drive continuous improvement, which enhances claim and billing accuracy, strengthens data integrity, and reduces labor costs for providers.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $1.10B | $943.5M | $791.0M | $704.9M | — |
| R&D | $54.6M | $48.8M | $35.3M | $32.8M | — |
| SG&A | $128.6M | $111.8M | $62.9M | $73.1M | — |
| Total operating expenses | $850.0M | $819.8M | $648.9M | $615.4M | — |
| Operating income | $249.3M | $123.7M | $142.1M | $89.5M | — |
| Pre-tax income | $171.8M | -$22.5M | -$63.8M | -$65.9M | — |
| Income tax | $59.7M | $3.4M | $12.5M | $14.4M | — |
| Net income | $112.1M | -$19.1M | -$51.3M | -$51.5M | — |
| EPS, basic | 0.63 | -0.13 | -0.42 | -0.42 | — |
| EPS, diluted | 0.61 | -0.13 | -0.42 | -0.42 | — |
| Shares, diluted (wtd. avg.) | 184.8M | 149.9M | 121.7M | 121.7M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $61.4M | $182.1M | $35.6M | $72.6M | $54.5M |
| Short-term investments | $24.9M | $0 | — | — | — |
| Receivables | $177.0M | $145.2M | $126.1M | — | — |
| Total current assets | $308.4M | $371.0M | $222.1M | — | — |
| Goodwill | $4.02B | $3.02B | $3.03B | $3.01B | $3.01B |
| Other intangibles | $1.29B | $1.04B | $1.19B | — | — |
| Total assets | $5.79B | $4.58B | $4.58B | — | — |
| Accounts payable | $50.9M | $47.4M | $45.5M | — | — |
| Short-term debt | $14.2M | $11.7M | $18.0M | — | — |
| Total current liabilities | $218.1M | $145.6M | $123.5M | — | — |
| Long-term debt | $1.46B | $1.22B | $2.20B | — | — |
| Total liabilities | $1.91B | $1.50B | $2.53B | — | — |
| Retained earnings | -$108.8M | -$220.9M | -$201.8M | — | — |
| Total equity | $3.88B | $3.08B | $2.05B | $2.11B | $2.12B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | $309.7M | $169.8M | $51.5M | $102.6M | — |
| Depreciation and amortisation | $140.5M | $186.6M | $176.5M | $183.2M | — |
| Stock-based compensation | $42.1M | $54.4M | $8.8M | $8.0M | — |
| Capital expenditure | $26.5M | $27.3M | $21.5M | $17.4M | — |
| Investing cash flow | -$680.9M | -$27.3M | -$61.5M | -$17.4M | — |
| Financing cash flow | $243.4M | $16.7M | -$17.2M | -$67.1M | — |
| Buybacks | $0 | $844.0K | $688.0K | $2.5M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001990354-26-000013.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | — | $704.9M | $791.0M | $943.5M | $1.10B |
| Gross profit | — | — | — | — | — |
| Net income | — | -$51.5M | -$51.3M | -$19.1M | $112.1M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Officer or director change Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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