Waystar Reports Strong Q2 Earnings with Revenue Growth and AI Momentum
Waystar Holding Corp (NASDAQ:WAY) reported strong second-quarter results, with revenue rising 18% year over year to $320 million. Adjusted EBITDA increased by 21.5% to $137 million, maintaining a healthy margin of 43%. The company raised its full-year guidance for both revenue and adjusted EBITDA due to continued client expansion and demand for AI-powered tools in the healthcare sector. Subscription revenue grew significantly at 34%, reaching $176 million or 55% of total revenue. Waystar also highlighted strong platform adoption, with large providers signing multi-million-dollar contracts and existing clients investing further into its Iodine capabilities. The company is expanding AI tools to prevent denials and identify revenue leakage. Waystar generated $64 million in unlevered free cash flow during the quarter while reducing net leverage to 2.5 times. It also repurchased $13 million of stock. CFO Steve Oreskovich will transition into an advisory role, with Alpana Wegner taking over as new CFO.
Tickers: $WAY
Topics: ai_integration ebitda_performance leadership_transition revenue_growth