Waystar Holding (WAY) Gross Margin (2023 - 2026)
Waystar Holding (WAY) recorded quarterly Gross Margin of 85.4% in Q1 2026, down 31.97% quarter-over-quarter from 125.53% in Q4 2025, and up 105.0% on a YoY basis from 41.66% in Q1 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 85.4% for Q1 2026.
- In Q1 2026, Gross Margin rose 105.0% year-over-year to 85.4%; the TTM figure through Mar 2026 stood at 91.62% (up 1268.0% YoY), while the FY2025 annual figure was 83.81%, up 44.0% from the prior year.
- Gross Margin was 85.4% for Q1 2026 at Waystar Holding, down from 125.53% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 125.53% in Q4 2025 to a low of 66.46% in Q3 2024.
- Historically, Gross Margin has averaged 81.92% across 4 years, with a median of 83.94% in 2023.
- The sharpest annual moves came in 2024 and 2025: Gross Margin sank 346 bps in 2024, then jumped 4151 bps in 2025.
- A 4-year view of Gross Margin shows it stood at 67.49% in 2023, then climbed by 24 bps to 84.03% in 2024, then soared by 49 bps to 125.53% in 2025, then plunged by 32 bps to 85.4% in 2026.
- The last three Gross Margin figures came in at 85.4% (Q1 2026), 125.53% (Q4 2025), and 68.31% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 24.83 Bn | 17.52 Bn | 662.02 Mn | 74.98% |
| 2 | BrightSpring Health Services | 13.57 Bn | 12.69 Bn | 482.22 Mn | 13.34% |
| 3 | Healthequity | 7.20 Bn | 6.93 Bn | 256.31 Mn | 72.27% |
| 4 | Hinge Health | 5.42 Bn | 5.11 Bn | 154.23 Mn | 84.60% |
| 5 | 10x Genomics | 4.46 Bn | 3.92 Bn | 106.18 Mn | 70.39% |
| 6 | Doximity | 3.81 Bn | 3.06 Bn | 125.97 Mn | 86.65% |
| 7 | Waystar Holding | 3.52 Bn | 3.36 Bn | 268.04 Mn | 85.40% |
| 8 | Privia Health | 2.94 Bn | 2.57 Bn | 595.71 Mn | 98.65% |
| 9 | Omnicell | 1.76 Bn | 1.59 Bn | 140.36 Mn | 45.30% |
| 10 | Teladoc Health | 1.45 Bn | 696.57 Mn | 562.57 Mn | 91.65% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 85.40% |
| Dec 31, 2025 | 125.53% |
| Sep 30, 2025 | 68.31% |
| Jun 30, 2025 | 83.92% |
| Mar 31, 2025 | 84.35% |
| Dec 31, 2024 | 84.03% |
| Sep 30, 2024 | 66.46% |
| Jun 30, 2024 | 80.51% |
| Mar 31, 2024 | 84.97% |
| Dec 31, 2023 | 67.49% |
| Sep 30, 2023 | 68.10% |
| Jun 30, 2023 | 83.97% |