AI Earnings Predictions for Waystar Holding Corp. (WAY)

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Waystar Reports Second Quarter 2026 Results

Q2 revenue of $319.7M, up 18% YoY

Q2 net income of $40.9M and non-GAAP net income of $83.3M

Q2 net income margin of 13%; adjusted EBITDA margin of 43%

Raising revenue and adjusted EBITDA guidance for 2026

LEHI, Utah and LOUISVILLE, Ky., July 29, 2026 — Waystar Holding Corp. (Nasdaq: WAY), a provider of leading healthcare payment software, today reported results for the second quarter ended June 30, 2026.

“Waystar delivered another solid quarter, driven by healthy demand, disciplined execution, and growing provider adoption,” said Matt Hawkins, Chief Executive Officer of Waystar. “Our unique position connecting providers, payers, and patients — combined with the breadth of our platform, the scale of our data, and the accelerating impact of our AltitudeAI capabilities — helps clients improve performance and reinforces our confidence in the long-term opportunity ahead.”

Second Quarter 2026 Financial Highlights

•Revenue of $319.7 million, up 18% year-over-year

•Net income of $40.9 million, GAAP net income per diluted share of $0.21, and net income margin of 13%

•Non-GAAP net income of $83.3 million and non-GAAP net income per diluted share of $0.43

•Adjusted EBITDA of $136.7 million and adjusted EBITDA margin of 43%

•Cash flow from operations of $59.4 million and unlevered free cash flow of $63.9 million

Key Performance Metrics and Revenue Disaggregation

•1,453 clients contributed over $100,000 in LTM revenue, up 15% year-over-year

•Net revenue retention rate (NRR) of 108%

•Second quarter 2026 subscription revenue of $176.3 million, up 34% year-over-year

•Second quarter 2026 volume-based revenue of $142.1 million, up 3% year-over-year

•Second quarter 2026 provider revenue of $231.8 million, up 23% year-over-year

•Second quarter 2026 patient revenue of $87.9 million, up 7% year-over-year

Financial Outlook

As of July 29, 2026, Waystar provides the following guidance for its full fiscal year 2026.1

•Total revenue is expected to be between $1.276 billion and $1.294 billion

•Adjusted EBITDA is expected to be between $535 million and $545 million

•Non-GAAP net income is expected to be between $322 million and $340 million

•Diluted non-GAAP net income per share is expected to be between $1.61 and $1.70

Webcast Information

Waystar's financial results will be discussed on a conference call scheduled at 4:30 p.m. Eastern Time today, July 29, 2026. A live audio conference call will be available on Waystar's website at https://investors.waystar.com/news-events/events. The webcast will be archived on the site for those unable to listen in real time. This earnings release and the related Current Report on Form 8-K furnished July 29, 2026, are available on the Investor Relations page of the company’s website. We routinely post important information on our website, including corporate and investor presentations and financial information. We intend to use our website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Such disclosures will be included in the Investor Relations section of our website. Accordingly, investors should monitor this portion of our website, in addition to following our press releases, U.S. Securities and Exchange Commission (“SEC”) filings, and public conference calls and webcasts.

1We have not reconciled the forward-looking adjusted EBITDA, non-GAAP net income, and non-GAAP net income per share guidance included above to the most directly comparable GAAP measure because this cannot be done without unreasonable effort due to the variability and low visibility with respect to certain costs, the most significant of which are incentive compensation (including stock-based compensation), transaction-related expenses, and certain fair value measurements, which are potential adjustments to future earnings. We expect the variability of these items to have a potentially unpredictable, and a potentially significant, impact on our future GAAP financial results.

Non-GAAP Financial Measures

To supplement the consolidated financial statements prepared and presented in accordance with U.S. generally accepted accounting principles (“GAAP”), this press release contains certain non-GAAP financial measures as defined below. We present non-GAAP financial measures as supplemental measures of financial performance that are not required by, or presented in accordance with, GAAP. We believe they assist investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Management believes these non-GAAP financial measures are useful to investors in highlighting trends in our operating performance, while other measures can differ significantly depending on long-term strategic decisions regarding

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way-20260217FALSE00019903542025FY00019903542026-02-172026-02-17

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 17, 2026 Waystar Holding Corp. (Exact name of registrant as specified in its charter)

Delaware001-4212584-2886542 (State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)

1550 Digital Drive, #300 Lehi, Utah 84043 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code: (844) 492-9782 Not applicable (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered Common Stock, par value $0.01 per shareWAYThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02             Results of Operations and Financial Condition. On February 17, 2026, Waystar Holding Corp. (the “Company”) issued a press release announcing earnings and other financial results for the fiscal quarter and fiscal year ended December 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The information in this Item 2.02, including the corresponding Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filings under Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01             Financial Statements and Exhibits. (d)Exhibits.

Exhibit No.Description

99.1 Waystar Holding Corp. Press Release, dated February 17, 2026

104Cover Page Interactive Data File (embedded within Inline XBRL document)

Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed by the undersigned hereunto duly authorized.

Date: February 17, 2026 Waystar Holding Corp.

By:/s/ Gregory R. Packer Name:Gregory R. Packer Title:Chief Legal Officer