Filing Flows › Waystar Holding (WAY) › Q2 2026
Waystar Holding (WAY) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 29, 2026
Waystar Holding (WAY) reported revenue of $320M for the second quarter 2026 (Q2 2026), +18% from a year earlier and +2% from the quarter before. Operating margin was 23.8%, net earnings $40.9M (12.8% of revenue).
Waystar Holding, Q2 2026: revenue $320M (+18% year over year), operating margin 23.8%, net earnings $40.9M, operating cash flow $59.4M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $320M | +2% | +18% |
| Operating profit | $76.0M | -5% | +17% |
| Net earnings | $40.9M | -6% | +27% |
| Operating cash flow | $59.4M | -30% | -39% |
| Free cash flow | $43.3M | -38% | -52% |
What changed
Revenue was $319.7M in Q2 2026, up 18% year over year and up 2% from the previous quarter. Subscription revenue was the largest line at 55% of revenue. Subscription revenue added $45.2M year over year (up 34%), 92% of the total change. Implementation services and other revenue declined 1%.
Operating profit was $76.0M, a 23.8% margin (down 0.2 points year over year). Of the extra revenue versus Q2 2025, 23% reached operating profit, below the 24% margin then. Total costs grew 18% against revenue growth of 18%. The fastest-growing cost line was Research & development (+40%). Net earnings were $40.9M, up 27% year over year. The effective tax rate was 27.5%.
Operating cash flow was $59.4M (down 39% year over year), 145% of net earnings. Non-cash charges added back $41.5M of depreciation and amortization and $13.8M of share-based compensation. Working capital and other items used $36.7M. Capital expenditures of $16.1M left free cash flow of $43.3M.
Questions
What was Waystar Holding's revenue in the second quarter 2026?
Waystar Holding (WAY) reported revenue of $320M for the second quarter 2026 (Q2 2026), +18% from a year earlier and +2% from the quarter before.
Was Waystar Holding profitable in the second quarter 2026?
Operating profit was $76.0M (23.8% of revenue) and net earnings $40.9M.
Source: Waystar Holding 10-Q on SEC EDGAR.