Waystar Posts 21% Revenue Jump in Third Quarter 2026
Waystar Holding Corp. reported Q3 2026 revenue of $325.6M, up 21% year over year, with a net income of $31.0M.
Waystar Holding Corp. (Nasdaq: WAY) reported third-quarter 2026 revenue of $325.6 million, a 21% increase compared to the same period a year earlier, the healthcare payments technology company announced Monday from its dual headquarters in Lehi, Utah, and Louisville, Kentucky.
Net income for the quarter reached $31.0 million, translating to a net income margin of 10%. On a non-GAAP basis, net income came in at $87.1 million, reflecting the gap between reported earnings and adjusted profitability metrics that strip out certain non-cash and one-time charges.
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The company's adjusted EBITDA margin stood at 43%, signaling strong operational efficiency relative to its revenue base. The spread between the GAAP net income margin of 10% and the 43% adjusted EBITDA margin underscores the significance of non-cash items — such as stock-based compensation and depreciation — in Waystar's cost structure, a pattern common among software-oriented platforms in the healthcare technology sector.
Waystar, which trades on the Nasdaq under the ticker WAY, provides revenue cycle management and payment solutions to healthcare organizations. The company's double-digit top-line growth in the quarter reflects continued demand for technology-driven billing and payment automation across hospitals, physician groups, and other healthcare providers navigating complex reimbursement environments.
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