Waystar Holding Corp. reported significant financial growth in its latest quarterly filing, with revenue reaching $319.7 million for the three months ended June 30, 2026, a notable increase of 18.1% compared to $270.7 million in the same period last year. For the six months ended June 30, 2026, revenue totaled $633.5 million, reflecting a 20.2% increase from $527.1 million in the prior year. The company also reported net income of $40.9 million for the second quarter, up 27.0% from $32.2 million in the previous year, and a net income of $84.2 million for the first half of 2026, a 36.9% increase from $61.5 million in 2025.
The growth in revenue was primarily driven by a substantial rise in subscription revenue, which increased by $45.2 million, largely attributed to existing and newly acquired clients. Volume-based revenue also contributed, with a $3.9 million increase, although this was partially offset by a decrease in provider solutions. Operating expenses for the second quarter rose to $243.6 million, up 18.4% from $205.8 million, with notable increases in general and administrative expenses, which grew by 24.6% due to higher stock-based compensation and personnel costs.
Waystar's operational metrics indicate a strong client base, with over 30,000 clients, including 16 of the top 20 U.S. News Best Hospitals, and a Net Revenue Retention Rate of 108.3% for the 12 months ending June 30, 2026. The company also reported a customer count of 1,453 clients generating over $100,000 in revenue, up from 1,268 in the previous year. The firm continues to expand its product offerings, leveraging its AI-powered platform to enhance healthcare payment processes, which has facilitated over 7.5 billion healthcare payment transactions in the past year.
Strategically, Waystar completed the acquisition of Iodine in October 2025 for approximately $1.26 billion, which is expected to enhance its AI capabilities and improve financial performance for healthcare providers. The company has also initiated a stock repurchase plan, authorizing up to $200 million in share buybacks, reflecting its commitment to returning value to shareholders. Looking ahead, Waystar anticipates continued growth driven by its expanding client base and the adoption of additional solutions by existing clients, while also navigating the challenges of a competitive healthcare technology landscape.
About Waystar Holding Corp.
Waystar provides cloud-based software solutions that streamline healthcare payments, covering the entire revenue cycle from eligibility verification to post-encounter collections. Its platform automates workflows, reduces errors, and enhances claim accuracy using AI and advanced algorithms. Serving over 30,000 healthcare providers, the company improves payment speed, accuracy, and transparency, helping providers increase revenue and operational efficiency in a complex, highly regulated industry.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.
View the complete official filing on the SEC website.
Read on SEC.gov