WAYSTAR HOLDING CORP (WAY)
Health Care · Healthcare Revenue Cycle Management and Payment Software · NASDAQ
Waystar is an AI-powered healthcare payments platform that automates revenue cycle management for 30,000+ providers, helping them get paid faster and more accurately while processing 7.5 billion annual transactions.
What WAYSTAR HOLDING CORP does
Waystar provides AI-powered cloud-based software that streamlines healthcare payment workflows for providers, helping them manage claims, billing, eligibility verification, prior authorizations, and revenue collection. The platform automates complex payment processes across the full patient journey and leverages proprietary machine learning and generative AI to improve billing accuracy, accelerate reimbursement, and reduce provider labor costs. Waystar serves over 30,000 healthcare clients including physician practices, clinics, hospitals, and health systems, facilitating over 7.5 billion healthcare payment transactions annually.
Themes: ["Healthcare payments automation","AI/machine learning in healthcare operations","Revenue cycle management (RCM)","Healthcare claims processing and billing","Provider financial optimization","Medical billing software","Healthcare payment network effects","Generative AI in healthcare workflows"]
Fundamentals
- Price$23.18 as of 2026-07-09 close
- Market cap$4.4B as of 2026-07-10
- 1-year return-38.8% as of 2026-07-09 close
- P/E35.12 as of 2026-07-10
- Net margin+10.9% as of 2026-07-10
- Gross margin+68.7% as of 2026-07-10
- ROE+3.5% as of 2026-07-10
- Debt / equity0.37 as of 2026-07-10
- Revenue growth (YoY)+18.6% as of 2026-07-10
- Revenue CAGR (3y)+16.0% SEC XBRL
- Beta1.28 as of 2026-07-10
Key risks (from latest filing)
["Platform concentration risk: Heavy dependence on healthcare payments market with regulatory complexity and constantly evolving payer requirements that could require significant technology investments to maintain compliance","Customer concentration and churn risk: While top 10 clients are 10.8% of revenue, loss of large healthcare providers or health systems could materially impact growth","Debt burden: Carrying approximately $1.4 billion in long-term debt with related party debt; interest expense of ~$20 million quarterly could pressure profitability if revenue growth slows"]
Competitors & peers
- Change Healthcare
- Emdeon (Experian)
- Optum/United Healthcare
- Cognizant (healthcare IT services)
- Veradigm (Allscripts)
- athenahealth
- NextGen Healthcare
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.