Waystar Holding (WAY) Gross Margin (2023 - 2026)
Waystar Holding (WAY) posted quarterly Gross Margin of 69.44% for Q2 2026, up 160.0% year-over-year from 26.71% in Q2 2025, and up 0.52% quarter-over-quarter from 69.08% in Q1 2026.
Waystar Holding (WAY) Gross Margin (2023 - 2026) Analysis & Trends
Waystar Holding's Gross Margin history runs 4 years deep, the most recent figure standing at 69.44% for Q2 2026.
- In Q2 2026, Gross Margin rose 160.0% year-over-year to 69.44%; the TTM figure through Jun 2026 stood at 69.11% (up 178.0% YoY), while the FY2025 annual figure was 68.33%, up 179.0% from the prior year.
- Gross Margin for Q2 2026 stood at 69.44%, up from 69.08% in the prior quarter.
- The five-year high for Gross Margin was 69.48% in Q4 2025, with the low at 65.7% in Q2 2024.
- The 4-year median for Gross Margin is 67.84% (2025), against an average of 67.88%.
- The sharpest annual moves came in 2024 and 2025: Gross Margin tumbled 343 bps in 2024, then jumped 214 bps in 2025.
- Waystar Holding's Gross Margin stood at 67.49% in 2023, then slipped by 0 bps to 67.41% in 2024, then advanced by 3 bps to 69.48% in 2025, then fell by 0 bps to 69.44% in 2026.
- Business Quant data shows WAY's Gross Margin at 69.44% in Q2 2026, 69.08% in Q1 2026, and 69.48% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 39.72 Bn | 32.40 Bn | 662.02 Mn | 74.98% |
| 2 | BrightSpring Health Services | 12.19 Bn | 11.64 Bn | 492.75 Mn | 12.72% |
| 3 | Healthequity | 8.79 Bn | 8.52 Bn | 256.31 Mn | 72.27% |
| 4 | 10x Genomics | 7.31 Bn | 6.76 Bn | 112.50 Mn | 74.48% |
| 5 | Hinge Health | 7.10 Bn | 6.71 Bn | 183.95 Mn | 86.44% |
| 6 | MiniMed | 5.66 Bn | 5.36 Bn | 480.00 Mn | 57.35% |
| 7 | Waystar Holding | 4.76 Bn | 4.56 Bn | 221.99 Mn | 69.44% |
| 8 | Doximity | 4.46 Bn | 3.77 Bn | 132.93 Mn | 84.87% |
| 9 | Heartflow | 3.66 Bn | 3.28 Bn | 53.19 Mn | 83.00% |
| 10 | Privia Health | 2.78 Bn | 2.42 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 69.44% |
| Mar 31, 2026 | 69.08% |
| Dec 31, 2025 | 69.48% |
| Sep 30, 2025 | 68.31% |
| Jun 30, 2025 | 67.84% |
| Mar 31, 2025 | 67.50% |
| Dec 31, 2024 | 67.41% |
| Sep 30, 2024 | 66.46% |
| Jun 30, 2024 | 65.70% |
| Mar 31, 2024 | 66.55% |
| Dec 31, 2023 | 67.49% |
| Sep 30, 2023 | 68.10% |
| Jun 30, 2023 | 69.13% |