Waystar Holding Corp. is dedicated to developing a cloud-based software platform designed to streamline financial transactions within the healthcare industry. Their comprehensive ...
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Est. EPS $1.67 · Revenue $1.29B · 14 analysts
Est. EPS $0.47 · Revenue $357.82M · 5 analysts
Est. EPS $0.49 · Revenue $365.28M · 5 analysts
Est. EPS $1.88 · Revenue $1.42B · 14 analysts
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $1.1B | +16.5% | +1.8% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $112.1M | +686.1% | -5.6% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +68.3% | +2.7% | +0.5% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +22.7% | +73.0% | -7.2% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +10.2% | +603.1% | -7.3% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $283.2M | +98.7% | -37.8% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +25.8% | +70.6% | -38.9% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 38.4% | -6.3% | -1.5% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 1.41x | -44.5% | +5.1% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $5.8B | +26.4% | +0.5% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 0.61 vs 1.46 | -58.2% | 0.21 vs 0.47 | -55.0% |
| Revenue Surprise | $1.1B vs $1.1B | +0.8% | $319.7M vs $357.8M | -10.7% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Sep 2, 2026 | Hawkins Matthew J. | director, officer: Chief Executive Officer | Common Stock | A | 82,500 | $4.14 |
| Sep 2, 2026 | Hawkins Matthew J. | director, officer: Chief Executive Officer | Common Stock | D | 82,500 | $25.97 |
| Sep 2, 2026 | Hawkins Matthew J. | director, officer: Chief Executive Officer | Stock Options (right to buy) | D | 82,500 | $4.14 |
| Sep 1, 2026 | PACKER GREGORY R | officer: Chief Legal officer | Common Stock | D | 6,754 | $25.73 |
| Sep 1, 2026 | Bridge T. Craig | officer: Chief Transformation Officer | Common Stock | D | 30,792 | $25.73 |
Operator: Good day, and thank you for standing by. Welcome to the Waystar Second Quarter 2026 Earnings Conference Call. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Edward Parker, Head of Investor Relations. Please go ahead. Edward Parker Thank you, operator. Good afternoon, everyone, and thank you for joining Waystar's Second Quarter 2026 Earnings Call. Joining me today are Matt Hawkins, Waystar's Chief Executive Officer; and Steven Oreskovich, Waystar's Chief Financial Officer. This afternoon, we issued a press release announcing our financial results and published an accompanying presentation deck. You can find these materials at investors.waystar.com. Before we begin, I would like to remind you that this call contains forward-looking statements, which are predictions or beliefs about future events or performance. Examples of these statements include expectations of future financial results, growth and margins. These statements involve a number of risks and uncertainties that may cause actual results to differ materially from those expressed in these statements. For a full discussion of the risks and other factors that may impact these forward-looking statements, please refer to this afternoon's press release and the reports we file with the SEC, all of which are available on the Investor Relations page of our website. Any forward-looking statements made on this call are only as of today and will not be updated unless required by law. We will also discuss certain non-GAAP financial measures. These measures are intended to provide additional insight into our performance and should not be considered in isolation or as a substitute for financial information prepared in accordance with GAAP. We have provided reconciliations of the non-GAAP financial measures included in our remarks to the most directly comparable GAAP measures, together with explanations of these measures in the appendix of the presentation slide deck and our earnings release. With that, I'd like to turn the call over to Matt. Matthew Hawkins: Thank you, Edward, and good afternoon, everyone. Thank you for joining our Q2 2026 earnings call. We delivered another solid quarter as we executed our strategy, supported our clients and advanced the Waystar platform toward a more autonomous revenue cycle. During the quarter, we delivered revenue of $320 million, representing 18% year-over-year growth and adjusted EBITDA of $137 million, resulting in an adjusted EBITDA margin of 43%, which exceeded consensus expectations for the quarter. We also delivered another strong quarter of bookings, supported by ongoing momentum with larger provider organizations, expansion across our client base and sustained demand for Waystar's AI-powered solutions. While the operating environment continues to evolve, the breadth of our platform, the diversity of our client base and the mission-critical nature of our solutions …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Matthew J. Hawkins | Chief Executive Officer & Director | USD 2,122,969 | Male | 1972 | Active |
Alpana Wegner | Chief Financial Officer | USD 1,216,534 | Female | 1973 | Active |
Steven Oreskovich | Advisor | USD 1,216,534 | Male | 1972 | Active |
T. Craig Bridge | Chief Transformation Officer | USD 1,194,333 | Male | 1973 | Active |
Edward Akira Parker | Head of Investor Relations | — | Male | — | Active |
Mark Encinger | Vice President of Treasury & Compliance | — | Male | — | Active |
Kristin Lee | Vice President of Communications | — | — | — | Active |
Gregory R. Packer | Chief Legal Officer & Secretary | — | Male | 1980 | Active |
Kim Wittman | Chief People Officer | — | Female | 1979 | Active |
Anthony Carrozzella | Chief Growth Officer of Health Systems & Hospitals | — | Male | — | Active |
Brendan O'Connor | Senior Vice President of Corporate Development & Strategy | — | Male | — | Active |
Melissa F. Miller | Chief Marketing Officer | — | Female | 1986 | Active |
Sue Dooley | Vice President of Investor Relations | — | Female | — | Active |
Bain Capital Venture Investors LLC purchased a new position in Waystar Holding Corp. (NASDAQ: WAY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 882,965 shares of the company's stock, valued at approximately $18,127,271,000. Waystar comprises about 13.6% of Bain Capital
Bamco Inc. NY bought a new position in Waystar Holding Corp. (NASDAQ: WAY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,787,600 shares of the company's stock, valued at approximately $36,699,000. Bamco Inc. NY owned 0.93% of Waystar at the end
Waystar Holding Corp. (WAY) Analyst/Investor Day Transcript
Waystar Launches New Agentic Solutions Transforming AI Into Action Across the Revenue Cycle PR Newswire LEHI, Utah
Waystar AltitudeAI™ innovations autonomously execute work, connect intelligence to action, and realize significant outcomes for providers LEHI, Utah and LOUISVILLE, Ky., Aug. 26, 2026 /PRNewswire/ -- Waystar (Nasdaq: WAY), a provider of leading healthcare payment software, today unveiled new Waystar AltitudeAI-powered agentic capabilities that autonomously take action across critical revenue cycle workflows, advancing the company's vision for an autonomous revenue cycle.
