Waystar Holding Corp. Stock Price, News & Analysis

Waystar reported strong Q1 2025 financial results with 14% year-over-year revenue growth reaching $256.4 million. The healthcare payment software provider achieved notable metrics including:

• Net income of $29.3 million with 11% margin
• Non-GAAP net income of $58.7 million
• Adjusted EBITDA of $107.7 million with 42% margin
• Cash flow from operations of $64 million

The company showed robust client growth with 1,244 customers contributing over $100,000 in LTM revenue, up 15% year-over-year. Net revenue retention rate reached 114%. Subscription revenue grew 18% to $125 million, while volume-based revenue increased 11% to $129.9 million.

Following these results, Waystar raised its 2025 guidance, projecting total revenue between $1.006-1.022 billion and adjusted EBITDA between $406-414 million. The company also launched Waystar AltitudeAI to enhance client workflows and financial performance.

Waystar (WAY) announced major expansions to its healthcare payment software platform, introducing new generative AI capabilities and advanced automation through AltitudeAI™. The innovations target over $440 billion in U.S. healthcare administrative waste, leveraging insights from six billion annual transactions across one million providers.

Key platform updates include:

• AltitudeAssist™ in Claim Manager - reduces claim processing time from 3 days to 3 minutes, helping prevent denials before submission
• Automated insurance identification system - achieves 55% accuracy improvement in coverage identification within 30 seconds
• Enhanced Digital First Billing - enables up to 80% patient self-service engagement and 35% reduction in print statements

The company processes transactions reaching approximately 50% of the U.S. patient population and will showcase these innovations at their Innovation Showcase event.

Waystar Holding Corp. (Nasdaq: WAY), a healthcare payment software provider, has scheduled its first quarter 2025 financial results announcement for April 30, 2025, after market close. The company will host a conference call at 4:30 p.m. Eastern Time on the same day to discuss the financial results for the quarter ended March 31, 2025. Investors can access a live audio webcast of the conference call through Waystar's investor relations website, with an archived version available for those unable to attend the live event.

Waystar (WAY) has released findings from a comprehensive Qualtrics market survey on 2025 revenue cycle management (RCM) trends, polling 600 healthcare RCM, finance, and technology leaders. 92% of leaders prioritize AI and advanced automation investments for RCM operations.

The study reveals six key trends:

• AI and generative AI expansion in RCM operations
• Focus on strong ROI from RCM software investments
• Enhanced cybersecurity measures
• Shift to end-to-end platforms (70% using 1-2 software partners)
• Increased patient access automation
• Strengthened cash flow through error-free claims

Healthcare organizations face significant challenges, including $20 billion spent annually on denied claims, with 60% of denials originating from front-end patient access errors. Claim denials have increased by 20%, while labor costs for claims status inquiries have risen 71% over five years.

Waystar (Nasdaq: WAY) has launched Auth Accelerate, a new solution to automate the prior authorization process in healthcare. The innovation reduces submission times by 70% and achieves 85% auto-approval rates, addressing a critical industry challenge that providers have identified as their top investment priority for 2025.

The solution decreases average payer approval wait times by 75%, from over four days to one day or less. This addresses a significant healthcare burden, as a recent American Medical Association survey revealed that over 25% of physicians report prior authorizations leading to serious adverse patient events, while 78% note that delays cause patients to abandon care.

Prisma Health, serving 1.6 million patients annually, is among the first organizations to implement Auth Accelerate. The launch follows Waystar's recent recognition as Best in KLAS for Patient Access solutions and the introduction of Waystar AltitudeAI™, including AltitudeCreate™ for denied claims appeals.

EQT has completed an underwritten public offering of 23 million shares of Waystar Holding Corp (NASDAQ: WAY) common stock, generating total gross proceeds of USD920 million. As part of the offering, EQT sold approximately 9.8 million shares, receiving gross proceeds of about USD393 million, and now holds approximately 38.8 million shares. The remaining shares were sold by other Waystar stockholders.

The offering was managed by J.P. Morgan, Goldman Sachs & Co. , and Barclays as joint book-running managers. Notably, Waystar did not sell any shares in the offering and received no proceeds from the sale of shares by EQT and other stockholders.

Waystar Holding Corp. (Nasdaq: WAY) has announced the pricing of a public offering where certain investment funds of EQT AB, Bain Capital, LP, and Canada Pension Plan Investment Board (the Selling Stockholders) will sell 20,000,000 shares of common stock at $40.00 per share. The Selling Stockholders have also granted underwriters a 30-day option to purchase up to 3,000,000 additional shares.

The offering, expected to close around February 24, 2025, is being led by J.P. Morgan, Goldman Sachs & Co. , and Barclays as joint lead book-running managers. Waystar itself is not selling any shares and will not receive any proceeds from the offering. The transaction is subject to customary closing conditions and has been registered with the SEC.

Waystar Holding Corp. (Nasdaq: WAY) has announced a proposed underwritten public offering of 18,000,000 shares of its common stock. The offering is being made by certain investment funds of EQT AB, Canada Pension Plan Investment Board, and Bain Capital, LP (the Selling Stockholders). The underwriters will have a 30-day option to purchase up to 2,700,000 additional shares.

The offering is being led by J.P. Morgan, Goldman Sachs & Co. , and Barclays as joint lead book-running managers. Importantly, Waystar will not receive any proceeds from the sale of shares in this offering. A registration statement on Form S-1 has been filed with the SEC but has not yet become effective.

Waystar Holding Corp. (WAY) reported strong Q4 and fiscal year 2024 results, with annual revenue reaching $944M, up 19% year-over-year. Q4 revenue grew 18% to $244.1M, with net income of $19.1M and adjusted EBITDA of $100.2M.

The company demonstrated solid performance metrics, including a 110% net revenue retention rate and 1,203 clients contributing over $100,000 in LTM revenue, up 15% YoY. Subscription revenue grew 18% to $121.6M, while volume-based revenue increased 19% to $121.2M.

For fiscal year 2025, Waystar projects revenue between $1.0-1.016B and adjusted EBITDA between $399-407M. The company expects non-GAAP net income of $237-243M and diluted non-GAAP EPS of $1.29-1.32.