Corp.Unaudited Consolidated Statements of Operations(in thousands, except for share and per share data)Three months ended December 31,Twelve months ended December 31,2025202420252024Revenue303,538244,1021,099,278943,549Operating expensesCost of revenue (exclusive of depreciation and amortization expenses)92,63779,542348,162315,730Sales and marketing49,21238,990178,017156,935General and administrative43,70922,959128,623111,753Research and development18,52011,47254,62348,775Depreciation and amortization40,442 ...

Core Viewpoint - Waystar Holding Corp. will report its financial results for Q3 2025 on October 29, 2025, after market close, followed by a conference call to discuss the results [1]. Company Overview - Waystar provides healthcare payment software designed to simplify payment processes, allowing providers to focus on patient care and financial performance [3]. - The company serves approximately 30,000 clients, which includes over 1 million distinct providers, and 17 out of the 20 institutions listed in U.S. News Best Hospitals [3]. - Waystar's platform processes over 6 billion healthcare payment transactions annually, managing over $1.8 trillion in gross claims and covering about 50% of U.S. patients [3].

Core Viewpoint - Waystar Holding Corp. announced a secondary offering of 18,000,000 shares of common stock by certain investment funds, including EQT AB, Bain Capital, and Canada Pension Plan Investment Board, with J.P. Morgan acting as the underwriter [1][2]. Company Overview - Waystar is a provider of healthcare payments software, serving approximately 30,000 clients and over 1 million distinct providers, including 16 of the top 20 institutions on the U.S. News Best Hospitals list [5]. - The company's platform processes over 6 billion healthcare payment transactions annually, amounting to over $1.8 trillion in gross claims, covering approximately 50% of U.S. patients [5]. Offering Details - The shares will be offered to the public at a fixed price, which may change without notice, and Waystar will not receive any proceeds from this offering [2][3]. - A registration statement on Form S-3 has been filed with the SEC and has become effective, allowing the offering to proceed [3][4].

Core Insights - AI is becoming essential in revenue cycle management (RCM) for healthcare providers, demonstrating significant impact and return on investment [1][2][3] Group 1: AI Integration in Healthcare - 82% of healthcare leaders consider AI integral to their RCM operations, with 70% identifying it as a top organizational priority [2][6] - AI is delivering 13-37% improvements in key revenue cycle areas such as claim accuracy, denial prevention, workforce efficiency, and payment speed [6] - Trust in AI is increasing, with 60% of decision-makers reporting heightened confidence since implementation [6] Group 2: Strategic Implementation and Adoption - Providers are prioritizing strategic AI implementation, particularly in payer-facing workflows like prior authorizations and denial appeals [3] - The majority of healthcare leaders are relying on existing RCM software partners for AI capabilities, favoring established platforms for faster value realization and data security [6] - Nearly 60% of healthcare leaders plan to increase AI investment, highlighting its strategic role in enhancing payment performance and process transformation [6] Group 3: Industry Impact - The study indicates a broader shift in the healthcare industry as AI accelerates automation, enhances analytics, and drives stronger returns on investment [3] - Waystar's platform processes over 6 billion healthcare payment transactions annually, reflecting the scale at which AI is being integrated into RCM [5]

Group 1 - Waystar has been recognized as a 2025–2026 Best Company to Work For by U.S. News & World Report, ranking in the top 6% of companies overall and top 25% in its industry and region [1][2] - The evaluation by U.S. News & World Report considered employee sentiment across six key factors, including pay and benefits, work-life balance, job stability, comfort, sense of belonging, and career opportunities [2] - The CEO of Waystar highlighted the recognition as a reflection of the company's culture, which emphasizes innovation and a commitment to simplifying healthcare payments [3] Group 2 - Waystar's software is designed to simplify healthcare payments, allowing providers to focus on patient care and financial performance [4] - 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 list [4] - Waystar processes over 6 billion healthcare payment transactions annually, amounting to over $1.8 trillion in gross claims, covering about 50% of U.S. patients [4]

Company Overview - Waystar is a provider of healthcare payment software, aiming to simplify healthcare payments for providers to enhance patient care and financial performance [3] - 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 list [3] - Waystar's platform processes over 6 billion healthcare payment transactions annually, amounting to over $1.8 trillion in gross claims, covering approximately 50% of U.S. patients [3] Upcoming Events - CFO Steve Oreskovich will present at the Bank of America Securities Healthcare Conference on May 14, 2025, at 8:40 a.m. PT [2] - CEO Matt Hawkins will present at the William Blair 45th Annual Growth Stock Conference on June 3, 2025, at 12 p.m. CT [2] - Both presentations will be streamed live on Waystar's Investor Relations website, with recordings available afterward [2]