Waystar Holding (WAY) Research & Development (2023 - 2026)
Waystar Holding (WAY) posted Research & Development of $50.4 million for Q2 2026, up 9.93% on a QoQ basis from $45.8 million in Q1 2026, and up 15.75% year-over-year from $43.5 million in Q2 2025.
Analysis
Waystar Holding (WAY) Research & Development (2023 - 2026) Analysis & Trends
Waystar Holding has reported Research & Development for 4 years, with the latest figure at $50.4 million in Q2 2026.
- On a quarterly basis, Research & Development rose 15.75% year-over-year to $50.4 million in Q2 2026; TTM through Jun 2026 was $190.6 million, a 18.31% increase from a year earlier, with the FY2025 full-year figure at $178.0 million, up 13.43% from the prior year.
- Research & Development was $50.4 million for Q2 2026 at Waystar Holding, up from $45.8 million in the prior quarter.
- The five-year high for Research & Development was $50.4 million in Q2 2026, with the low at $30.9 million in Q4 2023.
- Average Research & Development over 4 years is $40.4 million, with a median of $40.1 million recorded in 2025.
- The sharpest annual moves came in 2024 and 2025: Research & Development surged 45.53% in 2024, then retreated 4.79% in 2025.
- Over 4 years, Research & Development stood at $30.9 million in 2023, then grew by 25.99% to $39.0 million in 2024, then climbed by 26.22% to $49.2 million in 2025, then advanced by 2.37% to $50.4 million in 2026.
- The last three Research & Development figures came in at $50.4 million (Q2 2026), $45.8 million (Q1 2026), and $49.2 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 44.53 Bn | 37.29 Bn | 695.95 Mn | 222.92 Mn |
| 2 | Waystar Holding | 4.81 Bn | 4.62 Bn | 221.99 Mn | 50.38 Mn |
| 3 | Doximity | 4.74 Bn | 4.05 Bn | 132.93 Mn | 45.05 Mn |
| 4 | CCC Intelligent Solutions Holdings | 4.41 Bn | 4.30 Bn | 210.64 Mn | 52.99 Mn |
| 5 | EverCommerce | 1.40 Bn | 1.27 Bn | 119.50 Mn | 33.72 Mn |
| 6 | Schrodinger | 1.32 Bn | 904.47 Mn | 32.43 Mn | 41.00 Mn |
| 7 | Certara | 1.21 Bn | 1.03 Bn | 58.15 Mn | 14.98 Mn |
| 8 | GoodRx Holdings | 1.18 Bn | 887.53 Mn | 179.41 Mn | 81.99 Mn |
| 9 | Healthstream | 853.81 Mn | 787.08 Mn | 54.72 Mn | 13.58 Mn |
| 10 | Phreesia | 677.81 Mn | 677.81 Mn | 110.19 Mn | 27.57 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 50.38 Mn |
| Mar 31, 2026 | 45.83 Mn |
| Dec 31, 2025 | 49.21 Mn |
| Sep 30, 2025 | 45.16 Mn |
| Jun 30, 2025 | 43.52 Mn |
| Mar 31, 2025 | 40.12 Mn |
| Dec 31, 2024 | 38.99 Mn |
| Sep 30, 2024 | 38.45 Mn |
| Jun 30, 2024 | 45.72 Mn |
| Mar 31, 2024 | 33.78 Mn |
| Dec 31, 2023 | 30.95 Mn |
| Sep 30, 2023 | 32.11 Mn |
| Jun 30, 2023 | 31.41 Mn |