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Waystar Holding Corp. develops a cloud-based software solution for healthcare payments. Its platform offers financial clearance, patient financial care, claim and payer payment management, denials prevention and recovery, clinical integrity and revenue capture, and analytics and reporting solutions. It primarily serves healthcare industry. The company was founded in 2017 and is headquartered in Lehi, Utah.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.1B | $390M | $112M | $283M | 2.9% | 16.5% | -686.1% |
| 2024 | $944M | $310M | $-19M | $143M | -0.6% | 19.3% | -62.7% |
| 2023 | $791M | $319M | $-51M | $30M | -2.5% | 12.2% | -0.2% |
| 2022 | $705M | $273M | $-51M | $85M | -2.4% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 1,099.28 |
| Operating Revenue | 1,099.28 |
| Cost Of Revenue | 348.16 |
| Gross Profit | 751.12 |
| Operating Expense | 501.81 |
| Research And Development | 54.62 |
| Selling General And Administration | 306.64 |
| Total Expenses | 849.97 |
| Operating Income | 249.30 |
| Total Operating Income As Reported | 249.30 |
| EBITDA | 389.85 |
| Normalized EBITDA | 389.85 |
| EBIT | 249.30 |
| Interest Expense | 77.54 |
| Net Interest Income | -77.54 |
| Interest Expense Non Operating | 77.54 |
| Net Non Operating Interest Income Expense | -77.54 |
| Pretax Income | 171.76 |
| Tax Provision | 59.67 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 0 |
| Net Income Continuous Operations | 112.09 |
| Net Income From Continuing And Discontinued Operation | 112.09 |
| Net Income From Continuing Operation Net Minority Interest | 112.09 |
| Net Income | 112.09 |
| Net Income Common Stockholders | 112.09 |
| Net Income Including Noncontrolling Interests | 112.09 |
| Normalized Income | 112.09 |
| Diluted NI Availto Com Stockholders | 112.09 |
| Basic Average Shares | 177.93 |
| Diluted Average Shares | 184.78 |
| Reconciled Depreciation | 140.55 |
| Reconciled Cost Of Revenue | 348.16 |
| Depreciation Amortization Depletion Income Statement | 140.55 |
| Depreciation And Amortization In Income Statement | 140.55 |
| General And Administrative Expense | 128.62 |
| Other Gand A | 128.62 |
| Selling And Marketing Expense | 178.02 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Waystar Holding Corp.this co. | WAY | $3.9B | 34.60↑ premium | 1.00 | 2.9% | 13.55 |
| Amneal Pharmaceuticals, Inc. | AMRX | $4.3B | 59.86 | -60.93 | -101.8% | 11.13 |
| RadNet, Inc. | RDNT | $4.2B | -222.64 | 3.81 | -1.7% | 16.71 |
| Veracyte, Inc. | VCYT | $4.0B | 60.06 | 3.04 | 5.1% | 40.86 |
| Catalyst Pharmaceuticals, Inc. | CPRX | $3.8B |
| - |
| - |
| - |
| - |
| - |
| 17.87 |
| 4.01 |
| 22.5% |
| 10.56 |
| Merit Medical Systems, Inc. | MMSI | $3.8B | 29.27 | 2.37 | 8.1% | 12.46 |
| ACADIA Pharmaceuticals Inc. | ACAD | $3.7B | 9.51 | 3.03 | 31.9% | 30.83 |
| Organon & Co. | OGN | $3.5B | 18.82 | 4.68 | 24.9% | 8.98 |
| ICU Medical, Inc. | ICUI | $3.4B | 4607.08 | 1.59 | 0.0% | 14.73 |
| Peer Median | - | 24.04 | 3.04 | 6.6% | 13.59 | |