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Waystar Holding Corp. WAY Reportable Segment — R&D

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Other financials

Income statement

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Revenue$319.7M+18.1%
Gross profit$222.0M+20.9%
Operating income$76.0M+17.3%
Net income$40.9M+27.0%
EPS (diluted)$0.21+16.7%

Balance sheet

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Cash & equivalents$45.4M-85.4%
Total debt$1.5B+18.0%
Total equity$4.0B+25.6%
Total assets$5.9B+25.5%

Cash flow

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Operating cash flow$59.4M-38.6%
CapEx$16.1M+179%
Free cash flow$43.3M-52.4%

Valuation

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Market cap$4.48B-24.3%
Enterprise value$5.92B-13.8%
P/E33.3×
P/S3.7×-2.1×

Profitability

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Gross margin69.1%+1.8pp
Operating margin22.9%+2.1pp
Net margin11.2%
FCF margin20.4%-7.1pp

Returns & leverage

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Return on equity3.8%
Debt / equity0.4×0.0×
Current ratio1.8×-1.6×

Where this comes from

Reported directly by Waystar Holding Corp. in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The source filing: Waystar Holding Corp.’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 4:04 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001990354-26-000035
($ in thousands)Three months ended June 30, 2026Three months ended June 30, 2025Six months ended June 30, 2026Six months ended June 30, 2025
Less:
Materials and connectivity67,32462,271134,445122,724
Labor and associated expenses30,36224,77360,27647,665
Research and development17,72312,62236,09123,700
Sales and marketing50,37943,52496,20983,647
General and administrative36,37829,19267,10252,492
Depreciation6,9925,31013,97010,575
Amortization34,47428,11668,94856,231

Item 1. Financial Statements

FAQ

What is Waystar Holding Corp.'s reportable segment — R&D?
Waystar Holding Corp. (WAY) reported reportable segment — R&D of $17.72M in Q2 2026.
How has Waystar Holding Corp.'s reportable segment — R&D changed year-over-year?
Waystar Holding Corp.'s reportable segment — R&D increased by 40.4% year-over-year, from $12.62M to $17.72M.
What is the long-term trend for Waystar Holding Corp.'s reportable segment — R&D?
Over 2 years (2023 to 2025), Waystar Holding Corp.'s reportable segment — R&D has grown at a 24.3% compound annual growth rate (CAGR), from $35.33M to $54.62M.
What does reportable segment — R&D mean?
Represents expenditures dedicated to the innovation, design, and enhancement of the segment's software platform and technological capabilities. This investment is essential for maintaining competitive differentiation and expanding the segment's product roadmap. High levels of spending here indicate a commitment to long-term growth and technological leadership.

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