Waystar Holding (WAY) Operating Expenses (2023 - 2026)

Waystar Holding's (WAY) quarterly Operating Expenses came in at $233.4 million in Q1 2026, up 22.06% year-on-year from $191.2 million in Q1 2025, and down 4.54% quarter-over-quarter from $244.5 million in Q4 2025.

Waystar Holding (WAY) Operating Expenses (2023 - 2026) Analysis & Trends

Waystar Holding's Operating Expenses history runs 4 years deep, the most recent figure standing at $233.4 million for Q1 2026.

  • On a quarterly basis, Operating Expenses rose 22.06% year-over-year to $233.4 million in Q1 2026; TTM through Mar 2026 was $892.2 million, a 8.61% increase from a year earlier, with the FY2025 full-year figure at $850.0 million, up 3.68% from the prior year.
  • Operating Expenses retreated to $233.4 million in Q1 2026 per WAY's latest filing, from $244.5 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $244.5 million in Q4 2025 and bottomed at $158.8 million in Q2 2023.
  • The 4-year median for Operating Expenses is $198.5 million (2025), against an average of $199.7 million.
  • Across the five-year window, Operating Expenses soared 42.52% in 2024 and fell 9.05% in 2025, its largest moves.
  • Year by year, Operating Expenses stood at $169.0 million in 2023, then climbed by 12.99% to $191.0 million in 2024, then grew by 28.05% to $244.5 million in 2025, then slipped by 4.54% to $233.4 million in 2026.
  • Per Business Quant, the three latest WAY Operating Expenses figures stand at $233.4 million (Q1 2026), $244.5 million (Q4 2025), and $208.4 million (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Veeva Systems 29.34 Bn 22.03 Bn 662.02 Mn 388.91 Mn
2 BrightSpring Health Services 13.49 Bn 12.59 Bn 482.22 Mn 360.77 Mn
3 Healthequity 7.96 Bn 7.70 Bn 256.31 Mn 153.36 Mn
4 10x Genomics 6.17 Bn 5.63 Bn 106.18 Mn 123.22 Mn
5 Hinge Health 6.02 Bn 5.70 Bn 154.23 Mn 122.16 Mn
6 MiniMed 4.19 Bn 3.89 Bn 480.00 Mn 398.00 Mn
7 Waystar Holding 4.14 Bn 4.07 Bn 216.84 Mn 233.41 Mn
8 Doximity 3.82 Bn 3.08 Bn 125.97 Mn 101.14 Mn
9 Privia Health 3.10 Bn 2.73 Bn - 596.43 Mn
10 Omnicell 1.81 Bn 1.57 Bn 140.36 Mn 123.51 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 233.41 Mn
Dec 31, 2025 244.52 Mn
Sep 30, 2025 208.42 Mn
Jun 30, 2025 205.81 Mn
Mar 31, 2025 191.23 Mn
Dec 31, 2024 190.96 Mn
Sep 30, 2024 212.97 Mn
Jun 30, 2024 226.30 Mn
Mar 31, 2024 189.60 Mn
Dec 31, 2023 169.01 Mn
Sep 30, 2023 165.05 Mn
Jun 30, 2023 158.78 Mn