WAY Waystar Holding Corp.

FY2025 10-K
Filed: Feb 17, 2026
Information Technology
Services-Computer Integrated Systems DesignSEC EDGAR

Waystar Holding Corp. (WAY) filed its fiscal year 2025 10-K annual report with the SEC on Feb 17, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.

AI Filing Analysis
FY2025 10-K

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
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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%
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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

Financial Summary
XBRL

Revenue

$1.1B

Net Income

$112M

Operating Margin

22.7%

Net Margin

10.2%

ROE

2.9%

Total Assets

$5.8B

EPS (Diluted)

$0.61

Operating Cash Flow

$310M

Source: XBRL data from Waystar Holding Corp. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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