Companies /Healthcare

Waystar Holding Corp. Common Stock

NASDAQ: WAY Health Information Services
$25.39
â–² $1.22 (+5.03%) today
Markets open · 12:46pm ET

Q2 2026 Earnings

Reported Jul 29, 2026, 4:01pm ET · SEC source
$0.43
Beat +8.34%
EPS · est. $0.40
$319.7M
Beat +1.11%
Revenue · est. $316.2M
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−18%−12%−6%0Jul 29Jul 30report 4:01pm ETearnings+1.9%−14.6%
−18%−12%−6%0Jul 29Jul 30earnings+1.9%−14.6%
WAY −14.6%S&P 500 +1.9%
−14%−7%0Jul 29Jul 30report 4:01pm ETearnings+4.0%−14.6%
−14%−7%0Jul 29Jul 30earnings+4.0%−14.6%
WAY −14.6%NASDAQ +4.0%
−12%−6%0+6%Jul 28Aug 6report 4:01pm ETearnings+5.6%+0.9%
−12%−6%0+6%Jul 28Aug 6earnings+5.6%+0.9%
WAY +0.9%S&P 500 +5.6%
−14%−7%0+7%Jul 28Aug 6report 4:01pm ETearnings+8.3%+0.9%
−14%−7%0+7%Jul 28Aug 6earnings+8.3%+0.9%
WAY +0.9%NASDAQ +8.3%
−14.60%
Day of report
+0.81%
Next session
+11.60%
One week

Did WAY Beat Earnings? Q2 2026 Results

Waystar Holding Corp. delivered a solid second-quarter beat on both the top and bottom lines, as the healthcare payments technology company posted non-GAAP diluted EPS of $0.43, ahead of the $0.40 consensus by 8.34%, alongside revenue of $319.67 million that edged past the $316.17 million estimate by 1.11% and grew 18.1% year over year. The primary engine behind the quarter was a 34% surge in subscription revenue to $176.30 million, reflecting deepening adoption of the company's platform across provider networks, while provider revenue climbed 23% to $231.80 million. Adjusted EBITDA reached $136.72 million, representing a 42.8% margin that expanded from 41.6% a year earlier, underscoring improving operating leverage even as the company absorbed costs tied to a cybersecurity incident. Analysts had broadly anticipated strong demand trends heading into the print, and Waystar reinforced that confidence by raising its full-year 2026 revenue guidance to a range of $1.28 billion to $1.29 billion, with diluted non-GAAP EPS now expected between $1.61 and $1.70.

Key Takeaways
  • Healthy demand and disciplined execution
  • Growing provider adoption
  • Subscription revenue growth of 34% year-over-year
  • Net revenue retention rate of 108%
  • Clients contributing over $100,000 in LTM revenue up 15% to 1,453
  • Provider revenue grew 23% YoY to $231.8 million
  • Patient revenue grew 7% YoY to $87.9 million

“Waystar delivered another solid quarter, driven by healthy demand, disciplined execution, and growing provider adoption. Our unique position connecting providers, payers, and patients — combined with the breadth of our platform, the scale of our data, and the accelerating impact of our AltitudeAI capabilities — helps clients improve performance and reinforces our confidence in the long-term opportunity ahead.”

Waystar CEO, on the earnings call

Forward Guidance & Outlook

Waystar raised its full-year 2026 guidance: total revenue is expected to be between $1.276 billion and $1.294 billion; adjusted EBITDA between $535 million and $545 million; non-GAAP net income between $322 million and $340 million; and diluted non-GAAP net income per share between $1.61 and $1.70.

WAY YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$90.0M$180.0M$270.0M$270.7M$319.7MRevenue$183.6M$222.0MGross Profit$64.8M$76.0MOperating Income$32.2M$40.9MNet Income
$0$90.0M$180.0M$270.0MRevenueGross ProfitOperating IncomeNet Income

WAY Revenue by Segment

Subscription Revenue$176.3M+34.0%
Volume-Based Revenue$142.1M+3.0%

Figures from SEC filings and company reports. Not investment advice.