Waystar Stock Is Down 32% This Past Year, but One Fund Bought Up $11.5 Million Last Quarter

Core Insights - Blue Door Asset Management increased its position in Waystar by purchasing 322,600 shares valued at approximately $11.49 million based on average pricing for the quarter [1][2] - Waystar reported a revenue of $1.10 billion for 2025, reflecting a 17% year-over-year growth, with adjusted EBITDA reaching around $462 million, a 21% increase year-over-year [10] - Despite a 31.5% decline in stock price over the past year, Waystar's strong growth profile and market position in healthcare technology suggest potential for future capital investment [11][12] Company Overview - Waystar operates in the healthcare technology sector, providing a robust SaaS platform that addresses payment and revenue cycle challenges for healthcare providers [6] - The company serves a diverse customer base, including healthcare providers, hospitals, and health systems across the United States [9] - Waystar's business model focuses on optimizing revenue cycle management through cloud-based software solutions [9] Financial Performance - Waystar's revenue for the fourth quarter climbed 24% to approximately $304 million, indicating continued momentum in the adoption of automation tools by healthcare providers [10] - The company is projecting revenue of about $1.28 billion and adjusted EBITDA of $535 million for the upcoming year, highlighting expected growth [12] Market Position - Waystar's stock price as of the last report was $24.16, significantly underperforming compared to the S&P 500's roughly 20% gain over the same period [8] - The company ranks among the larger holdings in Blue Door's portfolio, indicating a strong conviction in the healthcare software sector [12]