Waystar Holding (WAY) Net Margin (2023 - 2026)
Waystar Holding (WAY) posted Net Margin of 12.78% for Q2 2026, down 7.29% on a QoQ basis from 13.79% in Q1 2026, and up 89.0% year-over-year from 6.76% in Q2 2025.
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Waystar Holding (WAY) Net Margin (2023 - 2026) Analysis & Trends
Waystar Holding has reported Net Margin for 4 years, with the latest figure at 12.78% in Q2 2026.
- On a quarterly basis, Net Margin rose 89.0% year-over-year to 12.78% in Q2 2026; TTM through Jun 2026 was 11.18%, a 268.0% increase from a year earlier, with the FY2025 full-year figure at 10.2%, up 1222.0% from the prior year.
- Net Margin was 12.78% for Q2 2026 at Waystar Holding, down from 13.79% in the prior quarter.
- The five-year high for Net Margin was 13.79% in Q1 2026, with the low at 11.8% in Q2 2024.
- Average Net Margin over 4 years is 2.98%, with a median of 6.59% recorded in 2025.
- The sharpest annual moves came in 2024 and 2025: Net Margin tumbled 629 bps in 2024, then jumped 2370 bps in 2025.
- Over 4 years, Net Margin stood at 6.97% in 2023, then surged by 212 bps to 7.82% in 2024, then fell by 16 bps to 6.59% in 2025, then soared by 94 bps to 12.78% in 2026.
- The last three Net Margin figures came in at 12.78% (Q2 2026), 13.79% (Q1 2026), and 6.59% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 44.53 Bn | 37.29 Bn | 695.95 Mn | 29.47% |
| 2 | Waystar Holding | 4.81 Bn | 4.62 Bn | 221.99 Mn | 12.78% |
| 3 | Doximity | 4.74 Bn | 4.05 Bn | 132.93 Mn | 15.53% |
| 4 | CCC Intelligent Solutions Holdings | 4.41 Bn | 4.30 Bn | 210.64 Mn | 7.27% |
| 5 | EverCommerce | 1.40 Bn | 1.27 Bn | 119.50 Mn | 6.37% |
| 6 | Schrodinger | 1.32 Bn | 904.47 Mn | 32.43 Mn | 10.15% |
| 7 | Certara | 1.21 Bn | 1.03 Bn | 58.15 Mn | -59.26% |
| 8 | GoodRx Holdings | 1.18 Bn | 887.53 Mn | 179.41 Mn | 4.26% |
| 9 | Healthstream | 853.81 Mn | 787.08 Mn | 54.72 Mn | 7.96% |
| 10 | Phreesia | 677.81 Mn | 677.81 Mn | 110.19 Mn | 1.48% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 12.78% |
| Mar 31, 2026 | 13.79% |
| Dec 31, 2025 | 6.59% |
| Sep 30, 2025 | 11.40% |
| Jun 30, 2025 | 11.89% |
| Mar 31, 2025 | 11.41% |
| Dec 31, 2024 | 7.82% |
| Sep 30, 2024 | 2.25% |
| Jun 30, 2024 | -11.80% |
| Mar 31, 2024 | -7.09% |
| Dec 31, 2023 | -6.97% |
| Sep 30, 2023 | -7.85% |
| Jun 30, 2023 | -5.52% |