Business
Waystar Reports Second Quarter 2024 Results
Revenue growth of 20% year-over-year Net loss of $27.7 million and non-GAAP net income of $5.0 million Net loss margin of (11.8)%; Adjusted EBITDA margin of
About this update from Waystar Holding Corp.
[{"type":"text","content":"Revenue growth of 20% year-over-year\nNet loss of $27.7 million and non-GAAP net income of $5.0 million \nNet loss margin of (11.8)%; Adjusted EBITDA margin of 40% \nLEHI, Utah and LOUISVILLE, Ky., Aug. 7, 2024 /PRNewswire/ -- Waystar Holding Corp. (Nasdaq: WAY), a provider of leading healthcare payment software, today reported results for the three-month period ended June 30, 2024.\n\n\"Waystar delivered strong performance across all key metrics in Q2,\" said Matt Hawkins, Chief Executive Officer of Waystar. \"We have solid momentum as clients utilize the cloud-based Waystar software platform, which we have purpose-built to drive client return on investment and a differentiated, modern user experience.\"\nHawkins continued, \"There is meaningful opportunity ahead of us, as the demand for an innovative healthcare software payment platform has never been greater. As a result, Waystar is poised to continue to deliver an attractive combination of revenue growth at scale and compelling adjusted EBITDA margins.\"\nSecond Quarter 2024 Financial Highlights\nRevenue of $234.5 million, up 20% year-over-yearNet loss of $27.7 million, GAAP net income per share of $(0.21), and net loss margin of (11.8)%Non-GAAP net income of $5.0 million and non-GAAP net income per share of $0.04Adjusted EBITDA of $93.9 million and Adjusted EBITDA margin of 40%Cash flow from operations of $15.5 million and Unlevered Free Cash Flow of $50.3 millionKey Metrics\n1,117 clients contributed over $100,000 in LTM revenue, up 9% year-over-yearA net revenue retention rate (NRR) of 108%Financial Outlook\nAs of August 7, 2024, Waystar provides the following guidance for its full fiscal year 2024.1\nTotal revenue is expected to be between $902 million and $918 millionAdjusted EBITDA is expected to be between $360 million and $368 millionNon-GAAP net income is expected to be between $36 million and $42 millionDiluted non-GAAP net income per share is expected to be between $0.23 and $0.27Webcast Information\nWaystar's financial results will be discussed on a conference call scheduled at 4:30 p.m. Eastern Time today, August 7, 2024. A live audio conference call will be available on Waystar's website at https://investors.waystar.com/news-events/events. The webcast will be archived on the site for those unable to listen in real-time. This earnings release and the related Cur...