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	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,011	943.55	791.01	704.87	578.57
Revenue Growth (YoY)	17.14%	19.28%	12.22%	21.83%	-
Cost of Revenue	330.48	315.73	249.77	214.89	151.77
Gross Profit	680.83	627.82	541.24	489.98	426.8
Selling, General & Admin	259.24	268.69	186.46	173.7	162.09
Research & Development	46.25	48.78	35.33	32.81	28.34
Operating Expenses	452.6	486.22	398.26	389.68	366.48
Operating Income	228.22	141.6	142.98	100.31	60.32
Interest Expense	-75.7	-146.27	-205.92	-155.33	-127.01
EBT Excluding Unusual Items	152.52	-4.67	-62.93	-55.02	-66.7
Merger & Restructuring Charges	-17.88	-17.88	-0.9	-	-
Asset Writedown	-	-	-	-10.86	-
Pretax Income	134.64	-22.55	-63.83	-65.88	-66.7
Income Tax Expense	48.7	-3.42	-12.5	-14.42	-19.58
Net Income	85.95	-19.13	-51.33	-51.46	-47.12
Net Income to Common	85.95	-19.13	-51.33	-51.46	-47.12
Shares Outstanding (Basic)	172	150	122	122	121
Shares Outstanding (Diluted)	177	150	122	122	121
Shares Change (YoY)	41.73%	23.21%	-0.01%	0.22%	-
EPS (Basic)	0.50	-0.13	-0.42	-0.42	-0.39
EPS (Diluted)	0.48	-0.13	-0.42	-0.42	-0.39
Free Cash Flow	278.56	142.5	29.94	85.2	91.87
Free Cash Flow Per Share	1.58	0.95	0.25	0.70	0.76
Gross Margin	67.32%	66.54%	68.42%	69.51%	73.77%
Operating Margin	22.57%	15.01%	18.08%	14.23%	10.42%
Profit Margin	8.50%	-2.03%	-6.49%	-7.30%	-8.14%
Free Cash Flow Margin	27.54%	15.10%	3.79%	12.09%	15.88%
EBITDA	363.03	300.16	312.65	277.87	233.97
EBITDA Margin	35.90%	31.81%	39.52%	39.42%	40.44%
D&A For EBITDA	134.81	158.55	169.67	177.57	173.66
EBIT	228.22	141.6	142.98	100.31	60.32
EBIT Margin	22.57%	15.01%	18.08%	14.23%	10.42%
Advertising Expenses	-	12.5	10.5	10.9	10

Updated Jul 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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