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Waystar Holding Corp Q1 2025 Earnings Report
Waystar Holding Corp. reported strong first quarter 2025 results, with significant year-over-year revenue growth and healthy net income and adjusted EBITDA margins.
Key Takeaways
Waystar Holding Corp. delivered a strong first quarter in 2025, achieving 14% year-over-year revenue growth to $256.4 million. The company reported a net income of $29.3 million and an adjusted EBITDA of $107.7 million, demonstrating robust profitability with net income margins exceeding 10% and adjusted EBITDA margins over 40%.
Revenue increased by 14% year-over-year, reaching $256.4 million.
Net income stood at $29.3 million, with a net income margin of 11%.
Adjusted EBITDA was $107.7 million, resulting in an adjusted EBITDA margin of 42%.
The company raised its full-year revenue and adjusted EBITDA guidance for 2025, reflecting confidence in continued growth.
Waystar Holding Corp
Waystar Holding Corp
Waystar Holding Corp Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comVolume-Based Revenue
CapyFin.com Forward Guidance
Waystar has raised its full fiscal year 2025 guidance for total revenue, adjusted EBITDA, and non-GAAP net income, reflecting strong confidence in its continued performance and strategic initiatives.
Positive Outlook
- Total revenue is expected to be between $1.006 billion and $1.022 billion.
- Adjusted EBITDA is expected to be between $406 million and $414 million.
- Non-GAAP net income is expected to be between $241 million and $247 million.
- Diluted non-GAAP net income per share is expected to be between $1.31 and $1.34.
- The company's confidence is bolstered by strong Q1 performance and innovation roadmap, including Waystar AltitudeAI.
Challenges Ahead
- Forward-looking adjusted EBITDA, non-GAAP net income, and non-GAAP net income per share guidance are not reconciled to GAAP measures due to the variability and low visibility of certain costs.
- Significant costs such as incentive compensation (including stock-based compensation), transaction-related expenses, and fair value measurements are difficult to predict.
- The variability of these items could have an unpredictable and significant impact on future GAAP financial results.
- The company operates in a highly competitive industry, which could impact future performance.
- There are inherent risks related to economic conditions, regulatory changes, and the ability to retain clients and attract new ones.