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 net income of $31M and a 43% adjusted EBITDA margin.
Waystar Holding Corp. (Nasdaq: WAY) posted strong third-quarter 2026 results, reporting revenue of $325.6 million, a 21% increase compared with the same period a year earlier, the healthcare payments technology company announced Nov. 2 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, Waystar recorded net income of $87.1 million, a figure that strips out certain charges and adjustments that the company excludes from its internal performance benchmarks.
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The company's adjusted EBITDA margin came in at 43%, underscoring the operational leverage Waystar has built in its platform business. The gap between GAAP and non-GAAP net income — roughly $56 million — signals material non-cash or one-time items weighing on reported earnings, a common dynamic among software-oriented companies carrying acquisition-related costs or stock-based compensation.
Waystar operates in the healthcare revenue cycle management space, providing software that helps hospitals, physician groups, and other providers navigate billing, claims, and payment workflows. The sector has drawn sustained investor attention as healthcare organizations seek to automate administrative processes and reduce the cost of collections.
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