WAY at a glance
Waystar Holding Corp. (WAY, SEC CIK 1990354) filed its latest 10-K annual report on February 17, 2026, a 10-Q quarterly report on July 29, 2026, an 8-K current report on July 29, 2026 and Form 4 insider filings as recently as October 6, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Waystar Holding Corp. (WAY) reported revenue of $1.1 billion (up 16.5% from FY2024) and net income of $112.1 million. Diluted EPS was $0.61.
- As of June 30, 2026, 30 institutional investment managers tracked by SignalX reported holding Waystar Holding Corp. (WAY) shares worth $1.5 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Hawkins Matthew J. on September 2, 2026 of 82,500 shares at $25.97 per share.
- In the last 90 days, WAY insiders reported 0 open-market purchases ($0) and 5 open-market sales ($5.8M) on Form 4, a net sale of $5.8M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $1.1B
- +16.5% vs prior year
- Insiders · 90 days
- 0 buys · 5 sells
- Net −$5.8M
- 13F holders
- 30 funds
- $1.5B · −2 vs prior quarter
- Latest 8-K
- Jul 29, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Cloud-based AI-powered software simplifying healthcare payment workflows for providers across the care continuum
- New emphasis on agentic AI for autonomous revenue cycle management, integrating generative AI for automated claim appeals and corrections
- Strategic shift: Rapid adoption surge in 2024 post-competitor cybersecurity incident, onboarding 30,000+ new providers and expanding payer connectivity
- Quantitative highlights: 30,000+ clients, 7.5B transactions processed annually, $2.4T in gross claims, product team 340+ full-time employees, 112% net revenue retention
- Noteworthy fact: Acquisition of Iodine in 2025 enhanced AI clinical intelligence, driving improved clinical documentation and billing accuracy integrated into one platform
Risk Factors
- Cybersecurity risk oversight by Board and Audit Committee with quarterly updates and incident briefings directed by CTO and DISO
- Cyber Risk Council composed of CTO, DISO, CFO, CLO, and cybersecurity teams directs risk management strategy and monitors program performance
Management Discussion & Analysis
- Revenue $1,099.3M up 16.5% YoY (+$155.7M); subscription revenue best performer, up $100.4M (21.9%)
- Operating margin 22.7% vs 13.1% YoY; net income $112.1M vs loss of $19.1M; adjusted EBITDA margin 42.0% vs 40.6%
- Best segment: Subscription revenue up $100.4M; worst margin driver: Depreciation down 12.8% vs 19.8% due to asset amortization decreases
- Operating cash flow $309.7M up 82%; investing cash flow used $680.9M due to $629.5M Iodine acquisition; financing cash flow $243.5M
- Guidance: Management confident in liquidity from cash, operations, debt; risks include economic conditions and access to credit markets
AI summary of the WAY 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Revenue $319.7M, up 18.1% YoY from $270.7M, driven by $45.2M subscription growth
- Operating margin 23.8% vs 24.0% YoY; net margin 12.8% vs 11.9%
- Provider solutions revenue $231.8M versus patient solutions revenue $87.9M
- Adjusted EBITDA $136.7M, with margin 42.8% vs 41.6% YoY
- Iodine acquisition debt increased interest expense; cybersecurity incident costs affected results
Risk Factors
- Newly disclosed June 2026 breach: source code and four inactive-data files acquired from a third-party cloud repository
- Data privacy risk: affected testing code and application data included PHI and PII linked to fewer than 1% of clients
- Regulatory and legal exposure: breach may trigger fines, investigations, class actions, and privacy-law claims
- Operational risk: AI-enabled phishing, polymorphic malware, and automated reconnaissance increase attack effectiveness
- Third-party concentration risk: vendors process client data with limited visibility into their security and AI practices
AI summary of the WAY 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Earnings release covers fiscal quarter ended June 30, 2026
- Exhibit 99.1 contains Waystar’s financial results and related earnings details
Item EX-99.1: Item EX-99.1
- Q2 revenue $319.7M, up 18% YoY, with subscription revenue accelerating 34% to $176.3M
- GAAP net income $40.9M and 13% margin; adjusted EBITDA $136.7M and 43% margin
Item 5.07: Submission of Matters to a Vote of Security Holders
- All four Class II directors re-elected through 2029, preserving board continuity
- Lauren Young received 176,923,242 votes, the strongest support among nominees
Item 2.02: Results of Operations and Financial Condition
- Earnings release covers Waystar’s quarter ended March 31, 2026
- Detailed financial results and management commentary appear in Exhibit 99.1
Item EX-99.1: Item EX-99.1
- Q1 2026 revenue $313.9M, up 22% YoY, with subscription revenue up 38% to $172.2M
- GAAP net income $43.3M, margin 13.8%; adjusted EBITDA $135.4M, margin 43.1%
AI summaries of WAY 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for WAY
Don't miss the next WAY filing
- Alerts as it files. A push when WAY files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut WAY, by share count.
- Ask anything. An AI agent that reads every WAY filing and answers with sources.
WAY alerts on your phone. Follow it in the SignalX Android app.
Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Chan William | F | Oct 5, 2026 | 9,560 | $26.07 |
| Hawkins Matthew J. | M | Sep 2, 2026 | 82,500 | $4.14 |
| Hawkins Matthew J. | Sell | Sep 2, 2026 | 82,500 | $25.97 |
| Hawkins Matthew J. | M | Sep 2, 2026 | 82,500 | - |
| Hawkins Matthew J. | F | Sep 1, 2026 | 30,287 | $25.73 |
| Bridge T. Craig | F | Sep 1, 2026 | 30,792 | $25.73 |
| PACKER GREGORY R | F | Sep 1, 2026 | 6,754 | $25.73 |
| Khanna Amit | A | Aug 17, 2026 | 390,625 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $791.0M | $943.5M | $1.1B |
| Operating Income | $142.1M | $123.7M | $249.3M |
| Net Income | -$51.3M | -$19.1M | $112.1M |
| Op. Margin | 18.0% | 13.1% | 22.7% |
| Net Margin | -6.5% | -2.0% | 10.2% |
| Balance Sheet | |||
| Total Assets | $4.6B | $4.6B | $5.8B |
| Equity | - | $3.1B | $3.9B |
| ROE | - | -0.6% | 2.9% |
| Per Share | |||
| EPS | $-0.42 | $-0.13 | $0.61 |
| Cash Flow | |||
| Operating CF | $51.5M | $169.8M | $309.7M |
Source: XBRL data in Waystar Holding Corp. (WAY)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate WAY share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 30 | $1.45B |
| Q1 2026 | 32 | $1.60B |
| Q4 2025 | 31 | $2.20B |
| Q3 2025 | 32 | $2.34B |
| Q2 2025 | 30 | $1.65B |
| Q1 2025 | 28 | $979.9M |
| Q4 2024 | 19 | $341.4M |
| Q3 2024 | 14 | $55.7M |
- Millennium Management+1.54M (+73%)
- T. Rowe Price Group+1.22M (+71%)
- Morgan Stanley+1.03M (+107%)
- BlackRock+769.7K (+5%)
- Dimensional Fund Advisors+614.5K (+30%)
- Goldman Sachs Group−1.74M (-66%)
- AQR Capital Management−664.7K (-54%)
- Ameriprise Financial−51.0K (-17%)
- Citadel Advisors LLC−29.1K (-22%)
- Fifth Third Bancorp−355 (-1%)
- Blackstone Group+56.4K
- Truist Financial+13.8K
- Renaissance Technologies LLC−423.2K
- Two Sigma Investments−151.0K
- Franklin Resources−26.8K
- Bridgewater Associates LP−9.4K
Source: 13F-HR filings on SEC EDGAR (aggregated from 216 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
WAY filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
8-K current reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 6, 2026 | - | - | - |
| 4 | Sep 25, 2026 | - | - | - |
| 4 | Sep 25, 2026 | - | - | - |
| 4 | Sep 25, 2026 | - | - | - |
| 4 | Sep 25, 2026 | - | - | - |
| 4 | Sep 25, 2026 | - | - | - |
| 4 | Sep 25, 2026 | - | - | - |
| 4 | Sep 25, 2026 | - | - | - |
| 4 | Sep 8, 2026 | - | - | - |
| 4 | Sep 3, 2026 | - | - | - |
| 4 | Sep 3, 2026 | - | - | - |
| 4 | Sep 3, 2026 | - | - | - |
| 4 | Aug 14, 2026 | - | - | - |
| 4 | Aug 13, 2026 | - | - | - |
| 4 | Aug 10, 2026 | - | - | - |
| 4 | Aug 3, 2026 | - | - | - |
| 4 | Aug 3, 2026 | - | - | - |
| 4 | Aug 3, 2026 | - | - | - |
| 10-Q | Jul 29, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Jul 29, 2026 | - | Analysis | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jun 9, 2026 | - | - | |
| 4 | Jun 9, 2026 | - | - | |
| 4 | Jun 9, 2026 | - | - | |
| 4 | Jun 9, 2026 | - | - |
Related Information Technology companies
- AGYS · AGILYSYS INCServices-Computer Integrated Systems Design
- ASUR · ASURE SOFTWARE INCServices-Computer Integrated Systems Design
- AUR · Aurora Innovation IncServices-Computer Integrated Systems Design
- CSPI · CSP INC /MA/Services-Computer Integrated Systems Design
- DMRC · Digimarc CORPServices-Computer Integrated Systems Design
- GDDY · GoDaddyServices-Computer Integrated Systems Design
- IONQ · IonQ, Inc.Services-Computer Integrated Systems Design
- KDK · Kodiak AI IncServices-Computer Integrated Systems Design
WAY SEC filings: frequently asked questions
Are WAY insiders buying or selling?
In the last 90 days, Waystar Holding Corp. (WAY) officers, directors and 10% owners reported no open-market purchases and 5 open-market sales worth $5.8 million by 1 insider on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold WAY stock?
As of June 30, 2026, the largest Waystar Holding Corp. (WAY) holders among the 13F filers tracked by SignalX were BlackRock ($358.0 million), FMR LLC (Fidelity) ($308.9 million), Vanguard Portfolio Management LLC ($136.0 million), Vanguard Capital Management LLC ($106.8 million), State Street Corp ($93.9 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was WAY's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Waystar Holding Corp. (WAY) reported revenue of $1.1 billion (up 16.5% from FY2024) and net income of $112.1 million. Diluted EPS was $0.61. The figures come from the XBRL data in the 10-K.
What are the main risks in WAY's latest 10-K?
In the 10-K filed February 17, 2026, Waystar Holding Corp. (WAY) flagged: Cybersecurity risk oversight by Board and Audit Committee with quarterly updates and incident briefings directed by CTO and DISO. Cyber Risk Council composed of CTO, DISO, CFO, CLO, and cybersecurity teams directs risk management strategy and monitors program performance. (AI summary of the Risk Factors section.)
What did WAY report in its latest 8-K?
Waystar Holding Corp. (WAY) filed an 8-K on July 29, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). Earnings release covers fiscal quarter ended June 30, 2026.
What are the latest WAY SEC filings?
Waystar Holding Corp. (WAY) filed its latest 10-K annual report on February 17, 2026, a 10-Q quarterly report on July 29, 2026, an 8-K current report on July 29, 2026 and a Form 4 insider filing on October 6, 2026.
What is WAY's SEC CIK number?
Waystar Holding Corp. (WAY)'s SEC Central Index Key (CIK) is 1990354. EDGAR lists every WAY filing under that number.
Ask anything about WAY
The research agent reads WAY's filings, financials, insider trades and 13F holders, then answers with sources.