--- title: "Waystar | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 313.87 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/284691638.md" datetime: "2026-04-30T04:16:43.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284691638.md) - [en](https://longbridge.com/en/news/284691638.md) - [zh-HK](https://longbridge.com/zh-HK/news/284691638.md) --- # Waystar | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 313.87 M Revenue: As of FY2026 Q1, the actual value is USD 313.87 M, beating the estimate of USD 311.68 M. EPS: As of FY2026 Q1, the actual value is USD 0.22, beating the estimate of USD 0.1888. EBIT: As of FY2026 Q1, the actual value is USD 80.47 M. #### Operational Metrics Waystar Holding Corp. reported a net income of $43.3 million for the first quarter of 2026, compared to $29.269 million in the prior year period, and a non-GAAP net income of $81.2 million for Q1 2026. The net income margin for Q1 2026 was 14%. Adjusted EBITDA reached $135.4 million, with an adjusted EBITDA margin of 43% for Q1 2026, compared to $107.746 million and 42.0% respectively in Q1 2025. Operating expenses for Q1 2026 included cost of revenue (exclusive of depreciation and amortization expenses) of $97.035 million (up from $83.345 million in Q1 2025), sales and marketing of $45.830 million (up from $40.123 million), general and administrative of $30.724 million (up from $23.300 million), research and development of $18.368 million (up from $11.078 million), and depreciation and amortization of $41.452 million (up from $33.380 million). Total operating expenses for Q1 2026 were $233.409 million, an increase from $191.226 million in Q1 2025. Income from operations for Q1 2026 was $80.465 million, up from $65.209 million in Q1 2025. Interest expense, net, was - $19.714 million in Q1 2026, compared to - $18.257 million in Q1 2025. Income tax expense was $16.535 million for Q1 2026, a decrease from $17.040 million in Q1 2025. #### Segment Revenue Subscription revenue for the first quarter of 2026 was $172.2 million, marking a 38% year-over-year increase. Volume-based revenue for the same period was $139.5 million, up 7% year-over-year. #### Operational Metrics (Unique) Waystar Holding Corp. reported 1,433 clients contributing over $100,000 in LTM (Last Twelve Months) revenue, representing a 15% year-over-year increase. The Net Revenue Retention Rate (NRR) was 111%. #### Cash Flow Cash flow from operations for the first quarter of 2026 was $84.9 million, compared to $64.249 million in Q1 2025. Unlevered free cash flow was $90.3 million for Q1 2026, up from $78.783 million in Q1 2025. #### Balance Sheet Metrics Net debt was $1,318.768 million as of March 31, 2026, compared to $992.214 million as of March 31, 2025. The adjusted gross leverage ratio was 3.0x, and the adjusted net leverage ratio was 2.7x as of March 31, 2026. #### Outlook / Guidance For the full fiscal year 2026, Waystar Holding Corp. expects total revenue to be between $1.274 billion and $1.294 billion. Adjusted EBITDA is projected to be between $530 million and $540 million. Non-GAAP net income is anticipated to range from $317 million to $335 million, with diluted non-GAAP net income per share estimated between $1.59 and $1.68. ### Related Stocks - [WAY.US](https://longbridge.com/en/quote/WAY.US.md) ## Related News & Research - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [GDEV announces results for the first quarter of 2026 | GDEV Stock News](https://longbridge.com/en/news/286909689.md) - [Acenta Group delays Q1 interim report release to May 29, 2026](https://longbridge.com/en/news/287031560.md) - [Yext to Announce First Quarter Fiscal Year 2027 Financial Results on June 2, 2026 | YEXT Stock News](https://longbridge.com/en/news/286970613.md)