Waystar Holding (WAY) Research & Development (2023 - 2026)
Waystar Holding (WAY) recorded Research & Development of $17.72 million in Q2 2026, up 40.4% from $12.62 million a year earlier but down 3.5% from the prior quarter.
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Analysis
Waystar Holding (WAY) Research & Development (2023 - 2026) Analysis & Trends
On a TTM basis, Waystar Holding's Research & Development came in at $67.01 million as of Jun 30, 2026, up 44.9% year-over-year; for FY2025, it was $54.62 million, up 12.0% from FY2024.
- Annual Research & Development has increased for three straight years, with a three-year compound annual growth rate of 18.5% (FY2022 to FY2025).
- Across earlier years, Research & Development came in at $48.78 million in FY2024 (+38.0%), $35.33 million in FY2023 (+7.7%) and $32.81 million in FY2022.
- Quarterly Research & Development has ranged from $8.25 million in Q2 2023 to $18.52 million in Q4 2025 over the past five years.
- On a year-over-year basis, Research & Development has increased for four consecutive quarters, with growth averaging 25.9% over the last eight quarters.
- Peak year-over-year performance for Research & Development in the last five years was growth of 92.8% in Q2 2024, against a decline of 20.6% in Q2 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at $18.37 million (Q1 2026), $18.52 million (Q4 2025) and $12.4 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Bryn | 945.00 Bn | 945.00 Bn | - | - |
| 2 | Veeva Systems | 45.35 Bn | 17.59 Bn | 695.95 Mn | 222.92 Mn |
| 3 | Samsara | 22.20 Bn | 18.97 Bn | 392.58 Mn | 102.56 Mn |
| 4 | Toast | 17.53 Bn | 10.20 Bn | 516.00 Mn | 109.00 Mn |
| 5 | Ptc | 15.47 Bn | 14.28 Bn | 490.47 Mn | 115.71 Mn |
| 6 | Trimble | 13.41 Bn | 12.48 Bn | 674.90 Mn | 177.10 Mn |
| 7 | Duolingo | 12.56 Bn | 7.73 Bn | 216.74 Mn | 92.20 Mn |
| 8 | Manhattan Associates | 11.77 Bn | 10.77 Bn | 168.33 Mn | 34.77 Mn |
| 9 | Costar | 10.95 Bn | 4.91 Bn | 728.00 Mn | 107.00 Mn |
| 10 | Waystar Holding | 4.94 Bn | 4.08 Bn | 221.99 Mn | 17.72 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 17.72 Mn |
| 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 |
API Access
Waystar Holding Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=WAY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "WAY", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=WAY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();