Q2 26 EPS
$0.43
BEAT +8.34%
Est. $0.40
Q2 26 Revenue
$319.7M
BEAT +1.11%
Est. $316.2M
vs S&P Since Q2 26
-2.2%
TRAILING MARKET
WAY +2.0% vs S&P +4.3%
Market Reaction
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 mill… Read more 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
WAY 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, source: SEC Filings
WAY Revenue by Segment
With YoY comparisons, source: SEC Filings
“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.”
— Matt Hawkins, Q2 2026 Earnings Press Release
WAY Earnings Trends
WAY vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WAY EPS Trend
Earnings per share: estimate vs actual
WAY Revenue Trend
Quarterly revenue: estimate vs actual
WAY Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $0.40 | $0.43 | +8.34% | $319.7M | +1.11% |
| Q1 26 BEAT | $0.39 | $0.42 | +8.70% | $313.9M | +0.70% |
| Q4 25 MISS FY | $0.40 | $0.36 | -8.98% | $303.5M | +2.97% |
| FY Full Year | — | $1.42 | — | $1.10B | — |
| Q3 25 BEAT | $0.35 | $0.37 | +5.71% | $268.7M | +4.63% |
| Q2 25 BEAT | $0.34 | $0.36 | +6.19% | $270.7M | +4.93% |