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Waystar Holding Corp. WAY Volume-based revenue — Revenue

Other product segments

Subscription revenue
$172.17M+37.7%
Implementation services and other revenue
$2.24M+52.0%

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Other financials

Income statement

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Revenue$313.9M+22.4%
Gross profit$216.8M+25.3%
Operating income$80.5M+23.4%
Net income$43.3M+47.9%
EPS (diluted)$0.22+37.5%

Balance sheet

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Cash & equivalents$62.7M-74.9%
Total debt$1.5B+18.0%
Total equity$3.9B+26.0%
Total assets$5.8B+26.4%

Cash flow

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Operating cash flow$84.9M+32.2%
CapEx$15.3M+182%
Free cash flow$69.6M+18.3%

Valuation

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Market cap$3.54B-28.1%
Enterprise value$4.97B-18.8%
P/E28.1×
P/S3.1×-2.0×

Profitability

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Gross margin68.7%+1.9pp
Operating margin22.9%+7.1pp
Net margin10.9%
FCF margin25.4%+5.3pp

Returns & leverage

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Return on equity3.6%
Debt / equity0.4×0.0×
Current ratio1.8×-1.4×

Where this comes from

Reported directly by Waystar Holding Corp. in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Waystar Holding Corp.’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Waystar Holding Corp.'s volume-based revenue — revenue?
Waystar Holding Corp. (WAY) reported volume-based revenue — revenue of $139.46M in Q1 2026.
How has Waystar Holding Corp.'s volume-based revenue — revenue changed year-over-year?
Waystar Holding Corp.'s volume-based revenue — revenue increased by 7.3% year-over-year, from $129.92M to $139.46M.
What is the long-term trend for Waystar Holding Corp.'s volume-based revenue — revenue?
Over 3 years (2022 to 2025), Waystar Holding Corp.'s volume-based revenue — revenue has grown at a 16.8% compound annual growth rate (CAGR), from $335.45M to $534.75M.
What does volume-based revenue — revenue mean?
This metric represents the total revenue generated from services where pricing is directly tied to the volume of transactions, claims, or patient interactions processed through the platform. It serves as a key indicator of the company's operational scale and the adoption rate of its core healthcare payment processing solutions. Growth in this segment reflects increased utilization of the platform by healthcare providers and the successful expansion of transaction-based service offerings.