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 | 32.17 Bn | 24.86 Bn | 662.02 Mn | 388.91 Mn |
| 2 | BrightSpring Health Services | 14.62 Bn | 13.72 Bn | 482.22 Mn | 360.77 Mn |
| 3 | Healthequity | 8.40 Bn | 8.14 Bn | 256.31 Mn | 153.36 Mn |
| 4 | Hinge Health | 5.95 Bn | 5.63 Bn | 154.23 Mn | 122.16 Mn |
| 5 | 10x Genomics | 5.86 Bn | 5.32 Bn | 106.18 Mn | 123.22 Mn |
| 6 | MiniMed | 4.52 Bn | 4.22 Bn | 480.00 Mn | 398.00 Mn |
| 7 | Waystar Holding | 4.46 Bn | 4.40 Bn | 216.84 Mn | 233.41 Mn |
| 8 | Doximity | 3.95 Bn | 3.20 Bn | 125.97 Mn | 101.14 Mn |
| 9 | Privia Health | 3.12 Bn | 2.70 Bn | - | 596.43 Mn |
| 10 | Omnicell | 1.88 Bn | 1.64 Bn | 140.36 Mn | 123.51 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |