Waystar Holding Corp (NASDAQ:WAY) on Tuesday posted strong fourth-quarter results and issued confident guidance for fiscal 2026, lifting shares in early trading.
The healthcare payments technology provider saw its stock advance 3.39% in pre-market activity following the announcement.
Waystar reported adjusted earnings of $0.36 per share for the fourth quarter on revenue of $303.5 million, marking a 24% increase compared with the same period a year ago.
Revenue strength was fueled by a 38% jump in subscription sales to $167.8 million, while volume-based revenue rose 11% to $134.2 million.
For full-year fiscal 2025, the company generated $1.1 billion in total revenue, up 17% year over year. Net income margin reached 10%, and adjusted EBITDA margin stood at 42%.
“Waystar is delivering strong growth and momentum—driving record bookings, integrating the Iodine acquisition ahead of plan, and accelerating AI-powered innovation across our platform,” said Matt Hawkins, Chief Executive Officer of Waystar.
Looking to fiscal 2026, Waystar expects revenue in the range of $1.274 billion to $1.294 billion, broadly in line with the $1.28 billion analyst consensus. Adjusted earnings per share are projected between $1.59 and $1.68, compared with consensus expectations of $1.63.
Operational metrics also pointed to continued traction, with 1,391 customers generating more than $100,000 in last twelve months revenue, a 16% increase year over year. Net revenue retention remained strong at 112%.
Adjusted EBITDA for the fourth quarter totaled $129.1 million, reflecting a 43% margin.
Investors reacted favorably to the results and outlook, encouraged by sustained subscription growth and the smooth integration of recent acquisitions as Waystar expands its AI-driven healthcare payments platform.