secwatch.observer — SEC 8-K summary
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Issuer:     Waystar Holding Corp. (WAY)
CIK:        0001990354
Form:       8-K
Filed at:   2025-07-30T23:59:59+00:00
Accession:  0001990354-25-000011
Event type: earnings
Sentiment:  positive
Materiality: 0.78
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Waystar Q2 revenue $270.7M (+15%), net income $32.2M, raises FY2025 guidance
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- Revenue $270.7M, up 15% YoY; subscription revenue $131.1M (+17%), volume-based $138.3M (+14%).
- GAAP net income $32.2M ($0.18 diluted EPS); non-GAAP net income $65.7M ($0.36 EPS).
- Adjusted EBITDA $112.6M (42% margin); operating cash flow $97M, unlevered free cash flow $111M.
- Net revenue retention rate 115%; 1,268 clients with >$100K LTM revenue, up 14% YoY.
- Raises FY2025 guidance: revenue $1.030-$1.042B, adjusted EBITDA $418-$426M, non-GAAP EPS $1.36-$1.40.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1990354/000199035425000011/0001990354-25-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1990354/000199035425000011/way-20250730.htm
  HTML page:      https://secwatch.observer/filing/0001990354-25-000011

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer