Waystar Holding (WAY) Gross Margin (2023 - 2026)
Waystar Holding's (WAY) quarterly Gross Margin came in at 69.08% in Q1 2026, up 159.0% year-on-year from 26.67% in Q1 2025, and down 0.57% quarter-over-quarter from 69.48% in Q4 2025.
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 69.08% for Q1 2026.
- On a quarterly basis, Gross Margin rose 159.0% year-over-year to 69.08% in Q1 2026; TTM through Mar 2026 was 68.72%, a 193.0% increase from a year earlier, with the FY2025 full-year figure at 68.33%, up 179.0% from the prior year.
- Gross Margin eased to 69.08% in Q1 2026 per WAY's latest filing, from 69.48% in the prior quarter.
- Across five years, Gross Margin topped out at 69.48% in Q4 2025 and bottomed at 65.7% in Q2 2024.
- The 4-year median for Gross Margin is 67.67% (2025), against an average of 67.75%.
- Across the five-year window, Gross Margin plunged 343 bps in 2024 and jumped 214 bps in 2025, its largest moves.
- Year by year, Gross Margin stood at 67.49% in 2023, then dropped by 0 bps to 67.41% in 2024, then climbed by 3 bps to 69.48% in 2025, then decreased by 1 bps to 69.08% in 2026.
- Per Business Quant, the three latest WAY Gross Margin figures stand at 69.08% (Q1 2026), 69.48% (Q4 2025), and 68.31% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 31.97 Bn | 24.65 Bn | 662.02 Mn | 74.98% |
| 2 | BrightSpring Health Services | 14.72 Bn | 13.82 Bn | 482.22 Mn | 13.34% |
| 3 | Healthequity | 8.31 Bn | 8.05 Bn | 256.31 Mn | 72.27% |
| 4 | Hinge Health | 5.99 Bn | 5.68 Bn | 154.23 Mn | 84.60% |
| 5 | 10x Genomics | 5.92 Bn | 5.38 Bn | 106.18 Mn | 70.39% |
| 6 | MiniMed | 4.54 Bn | 4.24 Bn | 480.00 Mn | 57.35% |
| 7 | Waystar Holding | 4.48 Bn | 4.42 Bn | 216.84 Mn | 69.08% |
| 8 | Doximity | 3.96 Bn | 3.21 Bn | 125.97 Mn | 86.65% |
| 9 | Privia Health | 3.15 Bn | 2.73 Bn | - | - |
| 10 | Omnicell | 1.88 Bn | 1.65 Bn | 140.36 Mn | 45.30% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |