#USA #Q3 Results #Lehi, Utah #Healthcare Payment #Waystar Holding

Waystar Reports Robust Third Quarter 2026 Financial Results

On November 2, 2026, Waystar Holding Corp. (Nasdaq: WAY), a leading provider of healthcare payment software, announced its third-quarter financial results for the period ending September 30, 2026. The company revealed substantial year-over-year growth and solid demand for its cloud-based solutions, highlighting its strong position within the healthcare technology space.

Financial Highlights

Waystar's revenue for Q3 reached $325.6 million, marking a 21% increase compared to the previous year. The company also reported a net income of $31.0 million, yielding a net income margin of 10%. When adjusted for non-GAAP measures, the net income soared to $87.1 million, or $0.44 per diluted share. Furthermore, Waystar achieved an adjusted EBITDA of $139.3 million, translating to an impressive EBITDA margin of 43%.

CEO Matt Hawkins emphasized the company’s commitment to a robust market presence, stating, "Waystar delivered another quarter of robust bookings and healthy demand across the business." He attributed the growth to a significant consolidation of revenue cycles onto their unified platform, especially as clients increasingly utilize AI-powered capabilities.

Key Performance Metrics

The number of clients contributing over $100,000 in annual revenue climbed 14% year-over-year, totaling 1,488 clients. Waystar’s net revenue retention rate was pegged at an impressive 108%. In terms of subscription revenue alone, the company saw a staggering 34% growth, reaching $180.7 million, while volume-based revenue rose by 8% to $142.9 million. Notably, provider revenue showed remarkable growth of 28%, hitting $243.4 million.

Waystar’s cash flow from operations stood at $103.9 million with an unlevered free cash flow of $114.8 million, underscoring the company's strong operational efficiency and solid financial footing.

Financial Outlook

Looking ahead, Waystar projects total revenue for fiscal year 2026 to be between $1.277 billion and $1.287 billion. The company anticipates adjusted EBITDA to fall between $543 million and $549 million, and expects non-GAAP net income to range from $322 million to $337 million. The projected diluted non-GAAP net income per share is estimated to be between $1.63 and $1.71.

Market Dynamics

In a rapidly evolving healthcare environment, Waystar continues to leverage technological advancements to enhance its service offerings. By integrating artificial intelligence within its platforms, Waystar aims to streamline processes for healthcare providers, allowing them to focus on delivering quality patient care rather than being bogged down by complex billing and payment systems. The ongoing demand for their innovative solutions reflects a broader trend of healthcare providers seeking efficiencies through technology.

Waystar's consecutive quarters of growth demonstrate the company's ability to navigate the challenges in the healthcare sector effectively. Their strategic focus on expanding their suite of services while ensuring excellent customer service is likely to bolster their market standing further.

Earnings Call

Waystar's management team will discuss its quarterly results in more detail during a conference call scheduled for 4:30 PM ET on November 2, 2026. Interested parties can listen to the live audio stream on Waystar's website and access an archive afterward for those unable to join in real time.

As healthcare continues to become more digitized, Waystar remains at the forefront, committed to facilitating seamless financial transactions and helping healthcare providers optimize their performance. Stakeholders and analysts are encouraged to keep an eye on Waystar's progress as they navigate future opportunities within this burgeoning market.