---
schema_version: "secwatch.filing_event.v1"
accession: "0001990354-25-000030"
form_type: "8-K"
ticker: "WAY"
cik: "0001990354"
company_name: "Waystar Holding Corp."
filed_at: "2025-10-29T23:59:59+00:00"
generated_at: "2026-05-17T01:44:38.333454+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Waystar Q3 revenue $268.7M (+12% YoY); raises FY2025 guidance

## Summary
- Q3 net income $30.6M ($0.17 GAAP EPS); non-GAAP net income $67.8M ($0.37).
- Adjusted EBITDA $112.7M (42% margin); cash from ops $82M, unlevered FCF $96M.
- Subscription revenue $134.5M (+14% YoY); volume-based revenue $132.3M (+10%).
- Clients >$100K LTM revenue: 1,306 (+11% YoY); net revenue retention 113%.
- FY2025 guidance raised: revenue $1.085-1.093B; adj. EBITDA $451-455M.

## SEC filing metadata
- accession: 0001990354-25-000030
- form_type: 8-K
- ticker: WAY
- cik: 0001990354
- company_name: Waystar Holding Corp.
- filed_at: 2025-10-29T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1990354/000199035425000030/0001990354-25-000030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1990354/000199035425000030/way-20251029.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001990354-25-000030
- JSON: https://secwatch.observer/filing/0001990354-25-000030.json
- Plain text: https://secwatch.observer/filing/0001990354-25-000030.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.