Waystar Holding Corp. Issues Press Release Announcing Strong Third Quarter 2024 Results

Posted by Shane Hupp on Nov 14th, 2024

Waystar Holding Corp., a prominent healthcare payment software provider, recently released its financial results for the third quarter of 2024, showing impressive growth. The company reported a revenue increase of 22% year-over-year, reaching $240 million for the quarter that ended on September 30, 2024. The net income for the period was $5.4 million, with a non-GAAP net income of $25.3 million. Waystar also disclosed a net income margin of 2% and an Adjusted EBITDA margin of 40%.

According to Matt Hawkins, the Chief Executive Officer of Waystar, the quarter showcased robust top-line growth, reflecting the company’s commitment to aiding healthcare providers in streamlining payment processes efficiently. The firm emphasized investments in AI-driven automation embedded in their cloud-based software offerings to ensure a substantial return on investment for clients.

The financial highlights for the third quarter of 2024 include:

– Revenue of $240.1 million, up by 22% from the previous year.
– Net income of $5.4 million, with GAAP net income per share of $0.03.
– Non-GAAP net income of $25.3 million and non-GAAP net income per diluted share of $0.14.
– Adjusted EBITDA of $96.7 million and an Adjusted EBITDA margin of 40%.

Moreover, the company’s forward guidance for the full fiscal year 2024 has been provided. It includes expectations of total revenue ranging between $926 million and $934 million, an Adjusted EBITDA range of $374 million to $378 million, non-GAAP net income anticipated to be between $47 million and $50 million, and diluted non-GAAP net income per share estimated to fall between $0.30 and $0.32.

Waystar will discuss these financial results further in a conference call scheduled for 4:30 p.m. Eastern Standard Time on November 6, 2024. The call will be accessible on Waystar’s website for live streaming.

The company’s mission-centralized software focuses on simplifying healthcare payments, catering to approximately 30,000 clients, with over 1 million distinct providers. Waystar aims to facilitate healthcare payments, allowing providers to focus on patient care and financial optimization.

Waystar’s stock, traded under the ticker symbol WAY on the Nasdaq Stock Market LLC, has showcased a positive trajectory following the release of these impressive financial results.

This article was generated based on an 8-K SEC filing by Waystar Holding Corp. on November 6, 2024. The full text of the filing, including detailed financial data, can be found on the Securities and Exchange Commission’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Waystar’s 8K filing here.