Waystar Holding Corp.
WAY
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Bull / bear case
Site-generated summary from fundamentals, news, and score — not investment advice. As of 2026-10-08.
- Waystar Holding Corp. is positioned well in the health information services industry, benefiting from a growing demand for digital healthcare solutions as providers seek efficiency and improved patient outcomes.
- Waystar's revenue grew by 2% compared to the prior quarter, reaching $320 million, indicating a positive trend in sales performance.
- The company's gross margin improved to 69.4%, up from 69.1% in the previous quarter, showcasing effective cost management and operational efficiency.
- Despite its growth, Waystar has faced challenges with profitability, as evidenced by a net income of -$51.334 million in 2023, highlighting potential operational inefficiencies.
- The operating margin decreased to 19.4% in Q4 2025 from 22.7% for the full year, indicating a decline in profitability over time.
- Waystar's net income for 2024 was negative at -$19.125 million, raising concerns about its ability to sustain growth without addressing underlying issues.
Fundamentals
| Market cap | $5.08B | Enterprise value | $6.37B | Trailing P/E | 37.83 | Forward P/E | 14.09 |
| PEG | — | Price / book | 1.29 | Beta | 0.18 | Dividend yield | 0.00% |
| Revenue growth | 18.1% | Earnings growth | 16.7% | Gross margin | 69.1% | Operating margin | 24.4% |
| Profit margin | 11.2% | ROE | 3.8% | ROA | 3.4% | Debt / equity | 0.37 |
| Current ratio | 1.85 | Free cash flow | $313.75M | Analyst recommendation | strong_buy | Mean target | $33.77 |
| 52w high | $40.35 | 52w low | $17.26 |
Quarterly
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | |
|---|---|---|---|---|---|
| Revenue | $320M | $314M | $304M | $269M | $271M |
| Op margin | 23.8% | 25.6% | 19.4% | 22.4% | 24.0% |
| Net income | $40.9M | $43.3M | $20.0M | $30.6M | $32.2M |
| Gross margin | 69.4% | 69.1% | 69.5% | 68.3% | 67.8% |
| Gross profit | $222M | $217M | $211M | $184M | $184M |
| Operating income | $76.0M | $80.5M | $59.0M | $60.2M | $64.8M |
- Revenue +2% vs prior quarter ($320M vs $314M).
- Gross margin 69.4% (was 69.1% prior quarter).
Yearly (6y)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $1.1B | $944M | $791M | $705M |
| Op margin | 22.7% | 13.1% | 18.0% | 12.7% |
| Net income | $112M | -$19.1M | -$51.3M | -$51.5M |
| Gross margin | 68.3% | 66.5% | 68.4% | 69.5% |
| Gross profit | $751M | $628M | $541M | $490M |
| Operating income | $249M | $124M | $142M | $89.5M |
No flags
• No distress or material-risk keywords in recent headlines (keyword scan only — not a guarantee).
News
2026-09-20 · Waystar Holding (WAY) Is Considering A Return To Private Ownership
2026-09-16 · Waystar (WAY) Soars 7.1%: Is Further Upside Left in the Stock?
2026-09-16 · Barclays Downgrades Waystar to Equalweight From Overweight
2026-09-15 · Waystar Surges As Medical Software Maker Reportedly Mulls A Sale
2026-09-15 · Sector Update: Tech Stocks Mixed Late Afternoon
2026-09-15 · Sector Update: Tech Stocks Mixed Tuesday Afternoon
2026-09-15 · Sector Update: Tech
2026-09-15 · WAY Stock Surges On Reported Sale Buzz — RBC Flags This Tech Giant As The ‘Obvious First Name’
2026-09-15 · Market Chatter: Waystar Mulls Options, Including Potential Sale
2026-09-15 · Premarket movers: Dave & Buster’s fall on Q2 miss; Waystar gains on potential sale
2026-09-15 · Waystar Shares Rise 3.3% on Report Company Is Exploring Potential Sale
Price (daily)
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