Waystar Holding (WAY) Operating Expenses (2023 - 2026)
Waystar Holding (WAY) posted Operating Expenses of $243.6 million for Q2 2026, up 4.38% on a QoQ basis from $233.4 million in Q1 2026, and up 18.38% year-over-year from $205.8 million in Q2 2025.
Analysis
Waystar Holding (WAY) Operating Expenses (2023 - 2026) Analysis & Trends
Waystar Holding has reported Operating Expenses for 4 years, with the latest figure at $243.6 million in Q2 2026.
- On a quarterly basis, Operating Expenses rose 18.38% year-over-year to $243.6 million in Q2 2026; TTM through Jun 2026 was $930.0 million, a 16.11% increase from a year earlier, with the FY2025 full-year figure at $850.0 million, up 3.68% from the prior year.
- Operating Expenses was $243.6 million for Q2 2026 at Waystar Holding, up from $233.4 million in the prior quarter.
- The five-year high for Operating Expenses was $244.5 million in Q4 2025, with the low at $158.8 million in Q2 2023.
- Average Operating Expenses over 4 years is $203.1 million, with a median of $205.8 million recorded in 2025.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses surged 42.52% in 2024, then declined 9.05% in 2025.
- Over 4 years, Operating Expenses stood at $169.0 million in 2023, then grew by 12.99% to $191.0 million in 2024, then increased by 28.05% to $244.5 million in 2025, then fell by 0.36% to $243.6 million in 2026.
- The last three Operating Expenses figures came in at $243.6 million (Q2 2026), $233.4 million (Q1 2026), and $244.5 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 44.53 Bn | 37.29 Bn | 695.95 Mn | 420.93 Mn |
| 2 | Waystar Holding | 4.81 Bn | 4.62 Bn | 221.99 Mn | 243.63 Mn |
| 3 | Doximity | 4.74 Bn | 4.05 Bn | 132.93 Mn | 99.28 Mn |
| 4 | CCC Intelligent Solutions Holdings | 4.41 Bn | 4.30 Bn | 210.64 Mn | 163.00 Mn |
| 5 | EverCommerce | 1.40 Bn | 1.27 Bn | 119.50 Mn | 134.54 Mn |
| 6 | Schrodinger | 1.32 Bn | 904.47 Mn | 32.43 Mn | 73.98 Mn |
| 7 | Certara | 1.21 Bn | 1.03 Bn | 58.15 Mn | 58.35 Mn |
| 8 | GoodRx Holdings | 1.18 Bn | 887.53 Mn | 179.41 Mn | 176.78 Mn |
| 9 | Healthstream | 853.81 Mn | 787.08 Mn | 54.72 Mn | 75.41 Mn |
| 10 | Phreesia | 677.81 Mn | 677.81 Mn | 110.19 Mn | 121.85 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 243.63 Mn |
| 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 |