Waystar Holding Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,040	943.55	791.01	704.87	578.57
Revenue Growth (YoY)	14.75%	19.28%	12.22%	21.83%	-
Cost of Revenue	335.07	315.73	249.77	214.89	151.77
Gross Profit	704.78	627.82	541.24	489.98	426.8
Selling, General & Admin	275.67	268.69	186.46	173.7	162.09
Research & Development	47.58	48.78	35.33	32.81	28.34
Operating Expenses	443.47	486.22	398.26	389.68	366.48
Operating Income	261.31	141.6	142.98	100.31	60.32
Interest Expense	-74.76	-146.27	-205.92	-155.33	-127.01
EBT Excluding Unusual Items	186.55	-4.67	-62.93	-55.02	-66.7
Merger & Restructuring Charges	-17.88	-17.88	-0.9	-	-
Asset Writedown	-	-	-	-10.86	-
Pretax Income	168.67	-22.55	-63.83	-65.88	-66.7
Income Tax Expense	57.49	-3.42	-12.5	-14.42	-19.58
Net Income	111.18	-19.13	-51.33	-51.46	-47.12
Net Income to Common	111.18	-19.13	-51.33	-51.46	-47.12
Shares Outstanding (Basic)	173	150	122	122	121
Shares Outstanding (Diluted)	179	150	122	122	121
Shares Change (YoY)	30.48%	23.21%	-0.01%	0.22%	-
EPS (Basic)	0.64	-0.13	-0.42	-0.42	-0.39
EPS (Diluted)	0.62	-0.13	-0.42	-0.42	-0.39
Free Cash Flow	284.52	142.5	29.94	85.2	91.87
Free Cash Flow Per Share	1.59	0.95	0.25	0.70	0.76
Gross Margin	67.78%	66.54%	68.42%	69.51%	73.77%
Operating Margin	25.13%	15.01%	18.08%	14.23%	10.42%
Profit Margin	10.69%	-2.03%	-6.49%	-7.30%	-8.14%
Free Cash Flow Margin	27.36%	15.10%	3.79%	12.09%	15.88%
EBITDA	368.43	300.16	312.65	277.87	233.97
EBITDA Margin	35.43%	31.81%	39.52%	39.42%	40.44%
D&A For EBITDA	107.12	158.55	169.67	177.57	173.66
EBIT	261.31	141.6	142.98	100.31	60.32
EBIT Margin	25.13%	15.01%	18.08%	14.23%	10.42%
Advertising Expenses	-	12.5	10.5	10.9	10

Updated Oct 29, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q