Waystar Holding WAY
Waystar Holding reports $31.03 million net income for Q3 2026
- Form
- 10-Q
- Filed
- Importance
- Notable
- Accession
- 0001990354-26-000041
- Revenue of $325.62 million for the three months ended Sep 30, 2026
- Net income of $31.03 million for the three months ended Sep 30, 2026
- Diluted EPS of $0.16 for the three months ended Sep 30, 2026
- Cash and equivalents of $30.82 million as of Sep 30, 2026
Written from the 10-Q on EDGAR. AI can make mistakes. Check the filing.
The reading, claim by claim
- The financial statements report revenue of $325.6 million and net income of $31.0 million for the quarter, with revenue up 21.2% from a year earlier.
- Income from operations was $61,266 thousand, compared with $60,232 thousand.
- Net income was $31,025 thousand for the three months, compared with $30,648 thousand a year earlier.
- Diluted net income per share was $0.16, compared with $0.17.
- Income tax expense was $10,944 thousand, compared with $12,069 thousand.
- For the nine months ended September 30, 2026, revenue was $959,172 thousand and net income was $115,175 thousand.
- The balance sheet lists cash and cash equivalents of $30,820 thousand at September 30, 2026, against $61,355 thousand at December 31, 2025.
- Investment securities were $246,075 thousand, against $24,877 thousand.
- Total assets were $5,922,840 thousand, and total liabilities were $1,886,249 thousand.
9 of 10 claims matched the filing text.
Not found in the filing text
- In the nine months ended September 30, 2025, revenue was $795,740 thousand and net income was $92,101 thousand.
From the filing's financial data, not stated in its text
From this 10-Q's financial data (XBRL) for the quarter ended September 30, 2026
- The XBRL data states an operating margin of 18.8% and a net margin of 9.5%.
From the filing
Item 1. Financial Statements
Waystar Holding Corp.
| September 30, 2026 | December 31, 2025 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents7 | $30,8207 | $61,3557 |
| Restricted cash | 24,161 | 15,454 |
| Investment securities8 | 246,0758 | 24,8778 |
| Accounts receivable, net of allowance of $4,130 at September 30, 2026 and $6,170 at December 31, 2025 | 187,007 | 177,037 |
| Income tax receivable | — | 6,437 |
| Prepaid expenses | 22,834 | 20,078 |
| Other current assets | 4,551 | 3,174 |
| Total current assets | 515,448 | 308,412 |
| Property, plant and equipment, net | 73,172 | 51,649 |
| Operating lease right-of-use assets, net | 11,922 | 12,972 |
| Intangible assets, net | 1,189,418 | 1,292,839 |
| Goodwill | 4,014,868 | 4,016,818 |
| Deferred costs | 110,720 | 93,951 |
| Other long-term assets | 7,292 | 8,459 |
| Total assets9 | $5,922,8409 | $5,785,1009 |
| Liabilities and stockholders' equity | ||
| Current liabilities | ||
| Accounts payable | $68,078 | $50,949 |
| Accrued compensation | 31,025 | 40,942 |
| Aggregated funds payable | 23,369 | 15,104 |
| Other accrued expenses | 38,020 | 22,990 |
| Deferred revenue | 64,773 | 67,855 |
| Current portion of long-term debt | 13,404 | 13,537 |
| Related party current portion of long-term debt | 790 | 657 |
| Current portion of operating lease liabilities | 5,713 | 6,029 |
| Total current liabilities | 245,172 | 218,063 |
| Long-term liabilities | ||
| Deferred tax liability | 174,539 | 211,320 |
| Long-term debt, net, less current portion | 1,374,057 | 1,394,523 |
| Related party long-term debt, net, less current portion | 75,468 | 64,186 |
| Operating lease liabilities, net of current portion | 11,163 | 11,994 |
| Deferred revenue - long-term | 5,572 | 5,496 |
| Other long-term liabilities | 278 | 692 |
| Total liabilities9 | 1,886,2499 | 1,906,2749 |
| Commitments and contingencies (Note 20) | ||
| Stockholders' equity | ||
| Preferred stock $0.01 par value - 100,000,000 and 100,000,000 shares authorized as of September 30, 2026 and December 31, 2025, respectively; zero shares issued or outstanding as of both September 30, 2026 and December 31, 2025 | — | — |
| Treasury stock, at cost | (33,487) | — |
|---|---|---|
| Additional paid-in capital | 4,060,817 | 3,986,353 |
| Accumulated other comprehensive income (loss) | 959 | (632) |
| Retained earnings (accumulated deficit) | 6,364 | (108,811) |
| Total stockholders' equity | 4,036,591 | 3,878,826 |
| Total liabilities and stockholders' equity | $5,922,840 | $5,785,100 |
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
Waystar Holding Corp.
| Three months ended September 30, | Nine months ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Revenue1 | $325,6241 | $268,6516 | $959,1726 | $795,7406 |
| Operating expenses | ||||
| Cost of revenue (exclusive of depreciation and amortization expenses) | 99,202 | 85,136 | 293,923 | 255,525 |
| Sales and marketing | 51,998 | 45,158 | 148,207 | 128,805 |
| General and administrative | 51,393 | 32,422 | 118,495 | 84,914 |
| Research and development | 20,299 | 12,403 | 56,390 | 36,103 |
| Depreciation and amortization | 41,466 | 33,300 | 124,384 | 100,106 |
| Total operating expenses | 264,358 | 208,419 | 741,399 | 605,453 |
| Income from operations2 | 61,2662 | 60,2322 | 217,7732 | 190,2872 |
| Other expense | ||||
| Interest expense, net | (18,182) | (16,613) | (56,531) | (52,195) |
| Related party interest expense | (1,115) | (902) | (3,059) | (2,475) |
| Income before income taxes | 41,969 | 42,717 | 158,183 | 135,617 |
| Income tax expense5 | 10,9445 | 12,0695 | 43,0085 | 43,5165 |
| Net income3 | $31,0253 | $30,6483 | $115,1753 | $92,1013 |
| Net income per share: | ||||
| Basic | $0.16 | $0.18 | $0.60 | $0.53 |
| Diluted4 | $0.164 | $0.174 | $0.594 | $0.514 |
| Weighted-average shares outstanding: | ||||
| Basic | 191,938,402 | 174,352,079 | 191,825,646 | 173,388,077 |
| Diluted | 195,913,142 | 181,240,033 | 195,743,104 | 181,165,738 |
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
Waystar Holding Corp.
| Three months ended September 30, | Nine months ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Net income | $31,025 | $30,648 | $115,175 | $92,101 |
| Other comprehensive income/(loss), before tax: | ||||
| Interest rate swaps and cap | 106 | (179) | 2,860 | (1,868) |
| Available-for-sale securities | (451) | 32 | (742) | — |
| Income tax effect: | ||||
| Interest rate swaps and cap | (25) | 44 | (709) | 445 |
| Available-for-sale securities | 110 | (8) | 182 | — |
| Other comprehensive income/(loss), net of tax | (260) | (111) | 1,591 | (1,423) |
| Comprehensive income, net of tax | $30,765 | $30,537 | $116,766 | $90,678 |
(1) Amounts reclassified out of accumulated other comprehensive income/(loss) into interest expense, net included $ 2,443 and $ 2,171 for the three months ended September 30, 2026 and 2025, respectively, and $ 4,992 and $ 4,060 for the nine months ended September 30, 2026 and 2025, respectively.
(2) The income tax effects of amounts reclassified out of accumulated other comprehensive income/(loss) were $( 598 ) and $( 534 ) for the three months ended September 30, 2026 and 2025, respectively, and $( 1,222 ) and $( 999 ) for the nine months ended September 30, 2026 and 2025, respectively.
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
Waystar Holding Corp.
Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity (in Thousands, Except Share Data)
Three months ended September 30, 2026
Common Stock Treasury Stock Additional
Paid-In
Capital Accumulated
Other
Comprehensive
Income (Loss) Retained earnings (accumulated deficit) Total
Shares Amount Shares Amount
Balances at June 30, 2026 192,583,037 $ 1,926 ( 659,061 ) $ ( 12,741 ) $ 4,020,499 $ 1,219 $ ( 24,661 ) $ 3,986,242
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