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Waystar Holding Corp. WAY Q2 2025 earnings

Reported July 30, 2025 · After market close

Revenue$270.7MBeat by $14.5MDiluted EPS$0.36Beat by $0.03
Revenue estimate$256.1M
EPS estimate$0.33

Next report

Jul 29, 2026 (In 4 days)
Revenue estimate$316.2M
EPS estimate$0.40

Financials

Q2 2025

Income statement

See full
Revenue$270.7M+15.4%
Gross profit$183.6M+19.2%
Operating income$64.8M+686%
Net income$32.2M+216%
EPS (diluted)$0.18+186%

Balance sheet

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Cash & equivalents$311.5M+287%
Total debt$1.3B-8.8%
Total equity$3.2B+7.7%
Total assets$4.7B+2.4%

Cash flow

See full
Operating cash flow$96.8M+526%
CapEx$5.8M-16.0%
Free cash flow$91.0M+960%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$6.7B+86.9%
Enterprise value$7.64B+56.6%
P/S6.6×+2.5×

Profitability

See full
Gross margin67.3%+0.4pp
Operating margin20.8%+7.7pp
FCF margin27.5%—

Returns & leverage

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Debt / equity0.4×-0.1×
Current ratio3.4×+1.3×

Segments

By product

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Volume-based revenue$138.3M+14.4%
Subscription revenue$131.1M+16.7%
Implementation services and other revenue$1.3M-2.9%

By segment

See full
Reportable Segment$270.7M+15.4%

Versus estimates

Revenue

Q1 2026$313.9MBeat by $2.1MQ4 2025$303.5MBeat by $8.7MQ3 2025$268.7MMiss by $26.1M
Q2 2025$270.7MBeat by $14.5M
Q1 2025$256.4MBeat by $2.4MQ4 2024$244.1MMiss by $4.4M

Diluted EPS

Q1 2026$0.42Beat by $0.03Q4 2025$0.36Miss by $0.03Q3 2025$0.37Beat by $0.03
Q2 2025$0.36Beat by $0.03
Q1 2025$0.32In lineQ4 2024$0.29Beat by $0.14

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Questions, answered.

When did Waystar Holding Corp. report Q2 2025 earnings?
Waystar Holding Corp. (WAY) reported Q2 2025 earnings on July 30, 2025 after market close.
What were Waystar Holding Corp.'s Q2 2025 revenue and EPS?
Waystar Holding Corp. reported revenue of $270.7M and diluted EPS of $0.36 for Q2 2025.
Did Waystar Holding Corp. beat estimates in Q2 2025?
Revenue beat the consensus estimate of $256.1M by $14.5M. EPS beat the consensus estimate of $0.33 by $0.03.
How did Waystar Holding Corp.'s Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 15.4% from $234.5M a year earlier and diluted EPS grew 800.0% from $0.04.
Where can I find Waystar Holding Corp.'s Q2 2025 SEC filings?
You can read the 10-Q periodic report (0001990354-25-000012) directly on SEC EDGAR. The filing index links above go to sec.gov.