Waystar Holding Corp. ( (WAY) ) has released its Q3 earnings. Here is a breakdown of the information Waystar Holding Corp. presented to its investors.
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Waystar Holding Corp., a prominent provider of healthcare payment software, has reported its financial results for the third quarter of 2025, showcasing significant growth and strong financial performance. The company, which operates in the healthcare technology sector, is known for its AI-powered platform that simplifies healthcare payments.
In the third quarter of 2025, Waystar achieved a 12% increase in revenue year-over-year, reaching $268.7 million. The company reported a net income of $30.6 million, with a net income margin of 11%. Additionally, the non-GAAP net income stood at $67.8 million, and the adjusted EBITDA margin was an impressive 42%. These results have led Waystar to raise its revenue and adjusted EBITDA guidance for the full year of 2025.
Key financial metrics for the quarter include a net revenue retention rate of 113% and an increase in clients contributing over $100,000 in revenue by 11% year-over-year. Subscription revenue grew by 14%, while volume-based revenue increased by 10%. The integration of Iodine Software has been a strategic move, enhancing Waystar’s platform and opening new avenues for growth.
Looking ahead, Waystar’s management remains optimistic about the company’s future prospects. They have provided guidance for the full fiscal year 2025, expecting total revenue to be between $1.085 billion and $1.093 billion, with adjusted EBITDA projected to range from $451 million to $455 million. The company continues to focus on leveraging its technology to drive profitability and maintain its position in the healthcare payment industry.