WAY
Waystar Holding Corp.32.90
+0.34+1.04%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Customers favor integrated AI platform
Q&A reinforced prepared remarks on Q4's $304M revenue and 2026 guidance, but clarified customers overwhelmingly prefer Waystar's integrated AI platform over in-house builds or point solutions, citing lacking engineering talent and trust needs. Management touted record Q3/Q4 $1M+ bookings—twice historical averages—displacing rivals via platform approach, with AI fueling 30% of new wins. New agents will monetize via SKUs, add-ons, retention, and hikes; they're open to performance-based pricing. Iodine eyes ~10% growth; margins get extra synergy scrutiny. Platform wins big. Investors watch AI ramps in large deals.
Key Stats
Market Cap
6.29BP/E (TTM)
50.62Basic EPS (TTM)
0.65Dividend Yield
0%Recent Filings
10-K
FY2025 results
Waystar Holding Corp. delivered FY2025 revenue of $1,099.3 million, up 16.5% y/y, with subscription revenue accelerating 21.9% y/y on new client wins and 112.0% net revenue retention. Q4 momentum shone through the October Iodine acquisition, adding $30 million in post-close revenue and bolstering AI-driven clinical intelligence for mid-cycle workflows. Operating income swung to $249.3 million from a $123.7 million prior-year loss, fueled by 24.7% lower D&A and $68.7 million less interest after $1.0 billion First Lien paydowns. Debt stands at $1.5 billion with $500 million revolver availability; no dividends or buybacks. Q4 accelerated. Highly competitive industry pressures client retention.
8-K
Q4 revenue up 24% YoY
8-K
CBO resigns March 2
Waystar Holding Corp. announced on February 2, 2026, that Chief Business Officer Eric (Ric) Sinclair III will resign effective March 2, 2026, to join another company. No disagreements with management prompted the exit. He'll receive his 2025 bonus per standard practices; no severance offered. Smooth transition ahead.
10-Q
Q3 FY2025 results
Waystar's Q3 revenue hit $268.7M, up 11.9% y/y, with subscription up 13.9% y/y and volume-based up 9.7% y/y; operating income soared to $60.2M from $27.1M while diluted EPS jumped to $0.17 from $0.03 on 181M shares. Cash swelled to $421M on $243M YTD operating cash flow, debt dipped to $1.23B at 6.34% after repricing, revolver untapped. Closed Iodine acquisition October 1 for $458.6M cash plus 16.6M shares. Profitability accelerates. Yet healthcare consolidation pressures client retention.
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