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Waystar Holding Corp. WAY Q3 2025 earnings

Reported October 29, 2025 · After market close

Revenue$268.7MMiss by $26.1M
EPS$0.37Beat by $0.03
Revenue estimate$294.7M
EPS estimate$0.34

Next report

Nov 4, 2026 (in 2 months)
Revenue estimate$323.3M
EPS estimate$0.41

Financials

Q3 2025

Income statement

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Revenue$268.7M+11.9%
Gross profit$183.5M+15.0%
Operating income$60.2M+122%
Net income$30.6M+466%
EPS (diluted)$0.17+467%

Balance sheet

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Cash & equivalents$445.4M+209%
Total debt$1.3B-0.8%
Total equity$3.2B+5.6%
Total assets$4.7B+4.5%

Cash flow

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Operating cash flow$82.0M+4.1%
CapEx$5.9M-31.8%
Free cash flow$76.2M+8.5%

Valuation & ratios

Valuation

as of 09/30/25
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Market cap$6.61B+42.1%
Enterprise value$7.42B+28.6%
P/S6.4×+1.2×

Profitability

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Gross margin67.8%+1.3pp
Operating margin23.4%+11.5pp
FCF margin27.4%+17.5pp

Returns & leverage

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Debt / equity0.4×0.0×
Current ratio3.9×+1.6×

Segments

By product

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Subscription revenue$134.5M+13.9%
Volume-based revenue$132.3M+9.7%
Implementation services and other revenue$1.9M+29.0%

By segment

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Reportable Segment$268.7M+11.9%

FAQ

When did Waystar Holding Corp. report Q3 2025 earnings?
Waystar Holding Corp. (WAY) reported Q3 2025 earnings on October 29, 2025 after market close.
What were Waystar Holding Corp.'s Q3 2025 revenue and EPS?
Waystar Holding Corp. reported revenue of $268.7M and eps of $0.37 for Q3 2025.
Did Waystar Holding Corp. beat estimates in Q3 2025?
Revenue missed the consensus estimate of $294.7M by $26.1M. EPS beat the consensus estimate of $0.34 by $0.03.
How did Waystar Holding Corp.'s Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 11.9% from $240.1M a year earlier and eps grew 164.3% from $0.14.
Where can I find Waystar Holding Corp.'s Q3 2025 SEC filings?
You can read the 8-K earnings release (0001990354-25-000030) and the 10-Q periodic report (0001990354-25-000031) directly on SEC EDGAR. The filing index links above go to sec.gov.