Waystar Holding Cash Flow 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
Net Income	111.18	-19.13	-51.33	-51.46	-47.12
Depreciation & Amortization	107.12	158.55	169.67	177.57	173.66
Other Amortization	15.77	14.15	17.27	15.86	11.29
Loss (Gain) From Sale of Assets	-	-	-	0.03	-
Asset Writedown & Restructuring Costs	17.88	17.88	-	10.86	-
Stock-Based Compensation	36.91	54.44	8.85	8	6.83
Provision & Write-off of Bad Debts	3.63	2.67	2.42	2.52	2.56
Other Operating Activities	22.85	-38.62	-60.79	-25.96	-22.01
Change in Accounts Receivable	-11.42	-21.82	-16.71	-17.37	-15.23
Change in Accounts Payable	19.44	18.23	11.92	-3.34	12.27
Change in Unearned Revenue	-1.45	-0.84	-0.17	-1.32	3.43
Change in Income Taxes	4.58	3.97	-2.46	6.43	2.57
Change in Other Net Operating Assets	-18.69	-19.71	-27.2	-19.18	-21.85
Operating Cash Flow	307.81	169.77	51.46	102.63	106.41
Operating Cash Flow Growth	164.32%	229.90%	-49.86%	-3.55%	-
Capital Expenditures	-23.29	-27.27	-21.52	-17.43	-14.54
Cash Acquisitions	-	-	-40	-	-429.79
Investing Cash Flow	-23.29	-27.27	-61.52	-17.43	-444.33
Long-Term Debt Issued	-	576.06	20	-	367
Long-Term Debt Repaid	-	-1,585	-38.77	-65.81	-17.71
Net Debt Issued (Repaid)	-12.86	-1,009	-18.77	-65.81	349.29
Issuance of Common Stock	22.63	1,019	0.43	0.65	1.19
Repurchase of Common Stock	-	-0.84	-0.69	-2.45	-1.91
Other Financing Activities	6.72	7.58	1.89	0.55	-17.07
Financing Cash Flow	16.49	16.65	-17.15	-67.07	331.5
Net Cash Flow	301.01	159.15	-27.21	18.14	-6.43
Free Cash Flow	284.52	142.5	29.94	85.2	91.87
Free Cash Flow Growth	217.47%	375.90%	-64.86%	-7.25%	-
Free Cash Flow Margin	27.36%	15.10%	3.79%	12.09%	15.88%
Free Cash Flow Per Share	1.59	0.95	0.25	0.70	0.76
Cash Interest Paid	80.89	122.77	193	144.32	117.11
Cash Income Tax Paid	21.98	51.1	51.45	5.57	2.1
Levered Free Cash Flow	263.05	199.47	122.11	135	-
Unlevered Free Cash Flow	307.11	286.95	240.33	221.82	-
Change in Working Capital	-7.53	-20.17	-34.62	-34.78	-18.81

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

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