Revenue Performance - Fiscal year 2024 revenue reached $944 million, representing a 19% year-over-year increase[1] - Q4 revenue was $244.1 million, up 18% year-over-year, with a net income of $19.1 million and a net income margin of 8%[4] - Subscription revenue for Q4 was $121.6 million, up 18% year-over-year, while volume-based revenue was $121.2 million, up 19% year-over-year[8] - Revenue for the three months ended December 31, 2024, increased to $244.1 million, up 18.0% from $206.7 million in the same period of 2023[25] Profitability Metrics - Fiscal year 2024 adjusted EBITDA was $383 million, reflecting a 15% increase year-over-year, with an adjusted EBITDA margin of 41%[1] - Net income for the twelve months ended December 31, 2024, was a loss of $19.1 million, an improvement from a loss of $51.3 million in 2023[29] - Adjusted EBITDA for the twelve months ended December 31, 2024, was $383.5 million, representing a 14.9% increase from $333.7 million in 2023[31] - Non-GAAP net income for Q4 2024 reached $52,073 thousand, compared to $19,455 thousand in Q4 2023, representing a 167% increase[35] Cash Flow and Financial Health - Cash flow from operations for Q4 was $65 million, with unlevered free cash flow of $80 million[4] - The company reported a net cash provided by operating activities of $169.8 million for the twelve months ended December 31, 2024, compared to $51.5 million in 2023[29] - Operating cash flow for the twelve months ended December 31, 2024, was $169,768 thousand, compared to $51,460 thousand in 2023, representing a 229% increase[37] - Unlevered free cash flow for Q4 2024 was $80,128 thousand, up from $54,983 thousand in Q4 2023, indicating a 45% growth[37] Client and Market Metrics - The company reported a net revenue retention rate (NRR) of 110%, with 1,203 clients contributing over $100,000 in last twelve months (LTM) revenue, a 15% increase year-over-year[4] - The company serves approximately 30,000 clients, processing over 6 billion healthcare payment transactions annually, amounting to over $1.8 trillion in gross claims[23] Future Projections - For fiscal year 2025, total revenue is expected to be between $1.0 billion and $1.016 billion, with adjusted EBITDA projected between $399 million and $407 million[8] - Non-GAAP net income for fiscal year 2025 is expected to be between $237 million and $243 million, with diluted non-GAAP net income per share projected between $1.29 and $1.32[8] Balance Sheet and Liabilities - Cash and cash equivalents increased significantly to $182.1 million as of December 31, 2024, compared to $35.6 million at the end of 2023[27] - Total current assets rose to $371.0 million in 2024, up from $222.1 million in 2023, reflecting a 67.0% increase[27] - Total liabilities decreased to $1.5 billion as of December 31, 2024, down from $2.5 billion in 2023, indicating a reduction of 41.0%[27] - Net debt decreased to $1,061,413 thousand as of December 31, 2024, down from $2,213,236 thousand a year earlier, reflecting a reduction of 52%[39] Research and Development - Research and development expenses for the twelve months ended December 31, 2024, were $48.8 million, up from $35.3 million in 2023, marking a 38.1% increase[25] Stock and Compensation - The weighted-average shares outstanding for basic shares increased to 172.5 million in 2024 from 121.7 million in 2023[25] - Stock-based compensation for Q4 2024 was $7,037 thousand, up from $2,343 thousand in Q4 2023, indicating a 200% rise[35] Tax and Adjustments - Tax effect of adjustments for the twelve months ended December 31, 2024, was $(50,170) thousand, compared to $(36,660) thousand in 2023, reflecting an increase in tax adjustments[35] Financial Ratios - Adjusted Gross leverage ratio improved to 3.2x in Q4 2024 from 6.7x in Q4 2023, showing enhanced financial stability[39]

Core Insights - Waystar Holding Corp. has been recognized as the leading AI-powered healthcare payment software platform, ranking 1 in eight categories according to a survey by Black Book Market Research [1][2] - The company outperformed 80 vendors in the survey, with no other vendor securing more than one top ranking [2] - Waystar's AI capabilities have significantly improved claims submission, denial reduction, and reimbursement turnaround time, establishing its leadership in financial accuracy and efficiency [2][3] Company Performance - Waystar achieved the 1 ranking in various AI-driven financial and payment management categories, including reduction in claim rejection and denial rates, and improvement in overall claims reimbursement turnaround time [3] - The platform has been recognized for its effectiveness in patient collections and engagement, leading in upfront patient payment collection rates and automated payment processing [3] - Waystar's software processes over 5 billion healthcare payment transactions annually, managing over $1.2 trillion in gross claims and covering approximately 50% of U.S. patients [4] Technological Advancements - The launch of Waystar AltitudeAI™ introduced a comprehensive set of AI capabilities, including AltitudeCreate™, aimed at enhancing the appeal process for denied claims [2] - The platform utilizes AI-driven predictive analytics to minimize claim denials by identifying errors before submission [5] - Waystar enhances patient financial interactions through intuitive, patient-friendly portals that provide real-time cost estimates and higher collection rates with minimal friction [5]

Core Insights - Waystar Holding Corp. has achieved top rankings in multiple 2025 Best in KLAS categories, specifically in Claims Management & Clearinghouse and Patient Access, highlighting the effectiveness of its AI-powered software platform [1][2] - The recognition reflects Waystar's commitment to client support excellence and its status as a leading software provider in revenue cycle management, marking over a dozen consecutive years of being named Best in KLAS [2][5] Group 1: Company Performance and Recognition - Waystar's software platform is designed to optimize revenue cycle workflows by integrating front-end patient access with back-end claims management, enhancing operational efficiency and return on investment (ROI) [3] - The company has received multiple prestigious awards, including Forbes' Most Trusted Companies in America and Fortune's Best Workplaces in Health Care, further solidifying its reputation in the industry [5] - Waystar serves approximately 30,000 clients, representing over 1 million distinct providers, and processes over 5 billion healthcare payment transactions annually, amounting to over $1.2 trillion in gross claims [6] Group 2: Client Impact and Industry Response - Following a cyber incident that disrupted claims processing nationwide, Waystar's claims and clearinghouse solutions were pivotal in stabilizing the healthcare industry, leading to the onboarding of over 30,000 providers through the Accelerated Implementation Program [4] - The platform's automation capabilities enhance denial prevention and accelerate reimbursements, allowing providers to navigate operational complexities and improve financial performance [3] - Waystar's continuous innovation and focus on client satisfaction empower healthcare providers to address pressing industry challenges effectively [1][3]

LEHI, Utah and LOUISVILLE, Ky., Jan. 28, 2025 /PRNewswire/ -- Waystar Holding Corp. (Nasdaq: WAY), a provider of leading healthcare payment software, announced today that it will report financial results for the fourth quarter and fiscal year ended December 31, 2024, before market open on Tuesday, February 18, 2025. The company will discuss its financial results on a conference call at 8:30 a.m. Eastern Time that same day.A live audio webcast of the conference call will be available on Waystar's investor re ...

Healthcare providers gain access to first-of-its-kind generative AI technology, leading to faster and more accurate payments LEHI, Utah, and LOUISVILLE, Ky., Jan. 13, 2025 /PRNewswire/ -- Waystar (Nasdaq: WAY), a provider of leading healthcare payment software, today announced the launch of Waystar AltitudeAI™, a comprehensive set of AI capabilities for providers, including AltitudeCreate™, a new generative AI innovation focused on appealing denied claims. By autonomously generating appeal letters, Waystar ...

Group 1 - Waystar Holding Corp. will present at the 43rd Annual J.P. Morgan Healthcare Conference on January 13, 2025, at 11:15 a.m. PT [1] - The event will be available via live webcast on Waystar's Investor Relations website, with a recording accessible afterward [1] Group 2 - Waystar provides healthcare payment software designed to simplify payment processes, allowing providers to focus on patient care and financial performance [2] - The company serves approximately 30,000 clients, representing over 1 million distinct providers, including 16 of the top 20 institutions on the U.S. News Best Hospitals Honor Roll [2] - Waystar's platform processes over 5 billion healthcare payment transactions annually, amounting to over $1.2 trillion in gross claims, covering about 50% of U.S. patients [2]

Enhancements expected to boost flexibility and lower borrowing costsLEHI, Utah and LOUISVILLE, Ky., Dec. 30, 2024 /PRNewswire/ -- Waystar Holding Corp. (Nasdaq: WAY), a provider of leading healthcare payment software, today announced an amendment to its first lien credit agreement (the "amended credit agreement") with its lenders. The amendment reprices Waystar's term loan and increases its revolving credit facility.Under the amended agreement, the term loan will now carry a reduced interest rate of adjuste ...

LEHI, Utah, and LOUISVILLE, Ky., Dec. 4, 2024 /PRNewswire/ -- Waystar Holding Corp. (Nasdaq: WAY), a provider of leading healthcare payment software, announced today that Forbes recognized Waystar as one of the Most Trusted Companies in America, alongside many of the world's leading software companies.Forbes' first-ever ranking of the Most Trusted Companies in America evaluated over 2,000 large U.S.-based public companies across four key categories: customer trust, employee trust, investor trust, and media ...

Company Announcements - Waystar Holding Corp. will have its CEO Matt Hawkins speak at two upcoming investor conferences: Evercore ISI HealthCONx Conference on December 4, 2024, and Barclays 22nd Annual Global Technology Conference on December 12, 2024 [1][2] Company Overview - Waystar provides healthcare payment software designed to simplify payment processes, allowing healthcare providers to focus on patient care and financial performance [3] - The company serves approximately 30,000 clients, representing over 1 million distinct providers, including 18 of the 22 institutions on the U.S. News Best Hospitals list [3] - Waystar's platform processes over 5 billion healthcare payment transactions annually, managing over $1.2 trillion in gross claims and covering approximately 50% of U.S. patients [3]

Core Insights - Nordstrom has launched a refreshed mobile app aimed at enhancing the holiday shopping experience, providing features like gift finding, style assistance, and fast shipping options [1][3][8] Group 1: Enhanced Digital Experience - The new app features a vibrant design and aims to inspire users with personalized shopping experiences, making it easier to shop both online and in-store [3][5] - Interactive features include trend reports and the Style Swipes tool, which offers product recommendations based on user preferences [4][5] - Improved search capabilities allow customers to find specific items quickly by describing what they are looking for in their own words [6] Group 2: Loyalty and Rewards - The Nordy Club allows members to earn points towards Nordstrom Notes with every purchase, providing real-time tracking of rewards and benefits [7] - Members can access exclusive perks, including beauty events and early access to sales [7] Group 3: Holiday Shopping Services - Customers can utilize same-day and next-day order pickup options, along with free two-day shipping available in over 25 major markets [8] - Nordstrom offers complimentary gift and style assistance from knowledgeable stylists, available both online and in-store [9] Group 4: Holiday Experiences and Events - Nordstrom is hosting various festive experiences, including virtual events and in-store activities, to engage customers during the holiday season [14][15] - The flagship store in NYC will feature a large immersive installation, "The Blizz on 57th Street," along with special holiday packages for memorable experiences [15][16] Group 5: Product Offerings - The company has introduced over 300 new brands for the holiday season, expanding choices for customers [11] - Gift selections are available across various price points, including curated lists for different budgets [12][19] Group 6: Nordstrom Rack Initiatives - Nordstrom Rack is enhancing its shopping experience with features like buy online, pick-up in-store, and exclusive app notifications for Nordy Club members [18][22][23] - The Rack offers significant discounts on popular brands, making it a budget-friendly option for holiday shopping [19][20]