Waystar Holding Corp. (WAY)

Waystar Holding Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	1,099	943.55	791.01	704.87	578.57
Revenue Growth (YoY)	16.50%	19.28%	12.22%	21.83%	-
Cost of Revenue	348.16	315.73	249.77	214.89	151.77
Gross Profit	751.12	627.82	541.24	489.98	426.8
Selling, General & Admin	293.94	268.69	187.36	173.7	162.09
Research & Development	54.62	48.78	35.33	32.81	28.34
Operating Expenses	489.11	486.22	399.16	389.68	366.48
Operating Income	262.01	141.6	142.08	100.31	60.32
Interest Expense	-77.54	-146.27	-205.92	-155.33	-127.01
EBT Excluding Unusual Items	184.46	-4.67	-63.83	-55.02	-66.7
Merger & Restructuring Charges	-12.7	-17.88	-	-	-
Asset Writedown	-	-	-	-10.86	-
Pretax Income	171.76	-22.55	-63.83	-65.88	-66.7
Income Tax Expense	59.67	-3.42	-12.5	-14.42	-19.58
Net Income	112.09	-19.13	-51.33	-51.46	-47.12
Net Income to Common	112.09	-19.13	-51.33	-51.46	-47.12
Shares Outstanding (Basic)	178	150	122	122	121
Shares Outstanding (Diluted)	185	150	122	122	121
Shares Change (YoY)	23.26%	23.21%	-0.01%	0.22%	-
EPS (Basic)	0.63	-0.13	-0.42	-0.42	-0.39
EPS (Diluted)	0.61	-0.13	-0.42	-0.42	-0.39
Free Cash Flow	283.19	142.5	29.94	85.2	91.87
Free Cash Flow Per Share	1.53	0.95	0.25	0.70	0.76
Gross Margin	68.33%	66.54%	68.42%	69.51%	73.77%
Operating Margin	23.83%	15.01%	17.96%	14.23%	10.42%
Profit Margin	10.20%	-2.03%	-6.49%	-7.30%	-8.14%
Free Cash Flow Margin	25.76%	15.10%	3.79%	12.09%	15.88%
EBITDA	391.95	300.16	311.75	277.87	233.97
EBITDA Margin	35.66%	31.81%	39.41%	39.42%	40.44%
D&A For EBITDA	129.95	158.55	169.67	177.57	173.66
EBIT	262.01	141.6	142.08	100.31	60.32
EBIT Margin	23.83%	15.01%	17.96%	14.23%	10.42%
Effective Tax Rate	34.74%	-	-	-	-
Advertising Expenses	14.7	12.5	10.5	10.9	10

Updated Feb 17, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q