3Q'25 Earnings Presentation October 29, 2025 This presentation contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that reflect our current views with respect to, among other things, statements regarding Waystar's expectations relating to future operating results and financial position, including full year 2025, and future periods; anticipated future investments; our industry, business strategy, goals, and deployment of artificial intelligence in ...

Core Insights - Claritev Corporation announced a strategic investment in Klaim, Inc., focusing on AI-driven healthcare payment-acceleration solutions [1] - The investment aims to fund the launch of a co-branded Payment Acceleration Service within Claritev's provider network [1] - This initiative is designed to help healthcare organizations achieve faster and more efficient payment processes [1]

Financial Performance Highlights - Waystar achieved a revenue growth of 15% in 2Q'25 compared to 2Q'24[11] - Adjusted EBITDA grew by 20% year-over-year in 2Q'25[11] - The Adjusted EBITDA margin was 42% in 2Q'25[11] - Unlevered free cash flow reached $111 million[12] Client and Revenue Retention - There was a 14% year-over-year growth in clients with over $100,000 in TTM (Trailing Twelve Months) revenue[12] - Net revenue retention was 115% for the twelve months ended June 30, 2025[12] Debt and Leverage - Over $1 billion in debt was paid in 2024, reducing annual interest by over $100 million[28] - The adjusted net leverage ratio was 22x at the end of 2Q'25[28] Guidance and Future Outlook - The company raised its FY'25 revenue guidance by $22 million at the midpoint[35] - The company raised its FY'25 adjusted EBITDA guidance by $12 million at the midpoint[35]