Waystar Holding (WAY) Research & Development (2023 - 2026)
Waystar Holding's quarterly Research & Development came in at $18.4 million in Q1 2026, up 65.81% year-on-year from $11.1 million in Q1 2025, and down 0.82% quarter-over-quarter from $18.5 million in Q4 2025.
Waystar Holding has reported Research & Development for 4 years, with the latest figure at $18.4 million in Q1 2026.
- For the quarter ending Q1 2026, Research & Development rose 65.81% year-over-year to $18.4 million; the trailing twelve-month figure through Mar 2026 stood at $61.9 million (up 24.99% YoY), and the FY2025 full-year result was $54.6 million, up 11.99% from the prior year.
- Research & Development for Q1 2026 stood at $18.4 million, down from $18.5 million in the prior quarter.
- The five-year high for Research & Development was $18.5 million in Q4 2025, with the low at $8.2 million in Q2 2023.
- Average Research & Development over 4 years is $12.4 million, with a median of $11.3 million recorded in 2024.
- Year-over-year, Research & Development surged 92.76% in 2024 and decreased 20.62% in 2025.
- Tracing WAY's Research & Development over 4 years: stood at $9.8 million in 2023, then rose by 17.25% to $11.5 million in 2024, then soared by 61.44% to $18.5 million in 2025, then dropped by 0.82% to $18.4 million in 2026.
- The last three Research & Development figures came in at $18.4 million (Q1 2026), $18.5 million (Q4 2025), and $12.4 million (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 30.85 Bn | 24.28 Bn | 622.47 Mn | 198.79 Mn |
| 2 | BrightSpring Health Services | 12.29 Bn | 11.41 Bn | 482.22 Mn | - |
| 3 | Healthequity | 7.80 Bn | 7.48 Bn | 256.31 Mn | 67.77 Mn |
| 4 | Hinge Health | 4.82 Bn | 4.51 Bn | 154.23 Mn | 30.34 Mn |
| 5 | Doximity | 4.21 Bn | 3.46 Bn | 125.97 Mn | 39.11 Mn |
| 6 | Waystar Holding | 4.18 Bn | 4.03 Bn | 268.04 Mn | 18.37 Mn |
| 7 | 10x Genomics | 3.78 Bn | 3.24 Bn | 106.18 Mn | 56.85 Mn |
| 8 | Privia Health | 2.65 Bn | 2.28 Bn | 595.71 Mn | - |
| 9 | Omnicell | 1.95 Bn | 1.78 Bn | 140.36 Mn | 21.52 Mn |
| 10 | Teladoc Health | 1.42 Bn | 672.39 Mn | 562.57 Mn | 67.87 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 18.37 Mn |
| Dec 31, 2025 | 18.52 Mn |
| Sep 30, 2025 | 12.40 Mn |
| Jun 30, 2025 | 12.62 Mn |
| Mar 31, 2025 | 11.08 Mn |
| Dec 31, 2024 | 11.47 Mn |
| Sep 30, 2024 | 11.08 Mn |
| Jun 30, 2024 | 15.90 Mn |
| Mar 31, 2024 | 10.32 Mn |
| Dec 31, 2023 | 9.78 Mn |
| Sep 30, 2023 | 8.97 Mn |
| Jun 30, 2023 | 8.25 Mn |