Waystar Holding Corp. · NASDAQ:WAY

Waystar — Investor Day (2026)

49 slides from Waystar's investor day presentation, 2026

Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Waystar’s expectations relating to future operating results, financial position, long-term financial targets, gr
Slide 3: Today's agenda
WAYSTAR INVESTOR DAY 2026 Today’s agenda How our platform, data, and AI advantage drive durable growth 1 Purpose-Built for This Moment: 3 The Waystar 5 Q+A Advancing the Future of the Revenue Cycle Go-to-Market Engine Waystar Matt Hawkins, Todd Woods, leadership team Chief Executive Officer Chief Co
Slide 5: A community built on results, partnership + innovation
WAYSTAR TRUE NORTH™ A community built on results, partnership + innovation 98% #1 #1 74 © 2026 Waystar. All rights reserved. of clients say we rank in product rank in client Waystar Net deliver on trust1 innovation + vision1 satisfaction1 Promoter Score1 WAYSTAR | SIMPLIFY HEALTHCARE PAYMENTS 1Third
Slide 8: The journey to increasing shareholder value
The journey to increasing shareholder value THE RIGHT THE RIGHT THE RIGHT MARKET PLATFORM + TEAM VISION Large, growing market Differentiated platform + Forging the path with rising demand commercial scale to to an autonomous for automation drive durable growth revenue cycle © 2026 Waystar. All right
Slide 9: Waystar today
WAYSTAR TODAY HEALTHCARE IS PRIMED FOR TRANSFORMATION Large market, sustained growth, and 1M+ 30K+ accelerating automation demand providers¹ clients¹ A DIFFERENTIATED PLATFORM BUILT TO LEAD 60% 1 in 3 Purpose-built platform, expansive data, of U.S. U.S. hospital and deep domain expertise patients¹ d
Slide 10: Revenue cycle pressure is intensifying
Revenue cycle pressure is intensifying © 2026 Waystar. All rights reserved. 1Third party market study, figures represent median values (2026) 2Centers for Medicare & Medicaid Services (2024) 10 3CAQH (2024) 4Sage (2024) 5American Hospital Association (2026 ) 6HFMA (2023) 7Kodiak Solutions (2024) WAY
Slide 11: Substantial market opportunity with long-term growth runway
Substantial market opportunity with long-term growth runway Waystar RCM market opportunity $103.3B total U.S. healthcare RCM spend 1 © 2026 Waystar. All rights reserved. $ $21.0B total addressable 44.1B RCM software 1,2 Waystar Segment TAM Services + Software1 11 Independent third-party market study
Slide 12: Substantial market opportunity with long-term growth runway
Substantial market opportunity with long-term growth runway Waystar RCM market opportunity $103.3B total U.S. healthcare RCM spend 1 $44.1B Waystar Segment TAM Services + Software1 © 2026 Waystar. All rights reserved. total addressable $21.0B RCM software 1,2 12 Independent third-party market study
Slide 13: Unmatched visibility drives better outcomes + durable advantage
Unmatched visibility drives better outcomes + durable advantage WAYSTAR PLATFORM CONNECTS CRITICAL WORKFLOWS Clinical Eligibility Patient cost Prior Co-pay Utilization Revenue Claim Claim Patient Denial + Payer documentation check estimation authorization collection management capture submission mon
Slide 14: The next era of the revenue cycle is autonomous
RIGHT AI. RIGHT MOMENT. The next era of the revenue cycle is autonomous HISTORICAL TODAY FUTURE Workflow enablement Intelligent automation Autonomous revenue cycle Digitize, connect + Predict, prevent, prioritize + assist Execute, adapt + resolve standardize workflows inside the workflow autonomousl
Slide 15: The autonomous revenue cycle of the future is…
POWERED BY CLIENT + WAYSTAR PROPRIETARY DATA CONTINUOUSLY CREATING INTELLIGENCE + INSIGHTS The autonomous revenue cycle of INTELLIGENTLY the future is… ORCHESTRATED EXECUTED BY © 2026 Waystar. All rights reserved. SPECIALIZED AGENTS TRACEABLE, COMPLIANT, ADAPTABLE WAYSTAR | SIMPLIFY HEALTHCARE PAYME
Slide 16: Durable growth + profitability create financial capacity
Durable growth + profitability create financial capacity GROWTH ALGORITHM TARGET FINANCIAL MODEL FINANCIAL CAPACITY DURABLE CLIENT 1 RETENTION Low double-digit Free cash flow revenue growth generation EXISTING CLIENT 2 CROSS-SELL NEW CLIENT 40%+ 3 CAPITAL AVAILABLE TO CONTRIBUTION Invest in growth H
Slide 17: Disciplined capital allocation supports long-term value creation
Disciplined capital allocation supports long-term value creation CAPITAL ALLOCATION PRIORITIES ORGANIC INVESTMENT DEBT REDUCTION SHARE REPURCHASES Drive innovation + growth Strengthen the balance sheet Active capital return program © 2026 Waystar. All rights reserved. DISCIPLINED M+A DIVIDENDS Strat
Slide 18: How Waystar creates + compounds value
TODAY’S AGENDA How Waystar creates + compounds value Product + technology Go-to-market Client outcomes Q+A How Waystar uses data How Waystar wins, How Waystar delivers An opportunity to dive + AI to strengthen its expands + turns measurable value + deeper with an open platform + power the platform a
Slide 21: One platform. Powerful AI. Proven results.
WAYSTAR END-TO-END PLATFORM One platform. Powerful AI. Proven results. One Al-powered platform connects patient access, clinical intelligence, and reimbursement workflows FRONT-END MID-CYCLE BACK-END Before the encounter During the encounter After the encounter Financial Clearance Clinical Integrity
Slide 22: The foundation powering the next era of the revenue cycle
WAYSTAR PLATFORM The foundation powering the next era of the revenue cycle Best-of-breed platform breadth drove scale adoption, creating the proprietary network, data, and workflow integration that now power agentic automation and outcomes at scale FOUNDATIONAL Mission- Unmatched Extensively Deep PI
Slide 23: Extensively deployed network advantage
BROAD CONNECTIVITY Extensively deployed network advantage Waystar’s scaled payer network creates a continuously refreshed proprietary data asset, while deep EHR connectivity embeds that intelligence directly into provider workflows — enabling smarter automation and preventive action EXPANSIVE PAYER
Slide 24: Extensive proprietary data
BROAD CONNECTIVITY Extensive proprietary data Breadth across care settings and geographies gives Waystar comprehensive visibility to identify patterns, act earlier, and unlock greater value SETTINGS OF CARE 60% of U.S. patients¹ Data assets from 30K providers across all settings of care unlock hard-
Slide 25: A four-layer intelligent agentic stack
A four-layer intelligent agentic stack, powered by a shared data + product foundation Execution layer Financial Clinical Integrity Claim + Payer Denial Patient Analytics + Clearance + Rev Capture Payment Mgmt Recovery Financial Care Reporting unified, platform-wide data layer Agentic Agent groups po
Slide 26: Purpose-built for differentiated AI strategy
AI MODEL INFRASTRUCTURE Purpose-built for differentiated AI strategy 15+ years of network growth + shared AI infrastructure enable payer-specific intelligence at scale AI FOUNDATION ADVANTAGE PAYER-SPECIFIC MODEL PORTFOLIO Extensive data scale Shared AI model training layer EXAMPLE Enables efficienc
Slide 27: AI is accelerating engineering productivity
AI-POWERED PRODUCT DEVELOPMENT AI is accelerating engineering productivity More engineering output translates into faster product delivery, accelerating innovation from idea to client impact ENGINEER PRODUCTIVITY Case study example RECOUPMENT MANAGER LAUNCH 15%+ 1.6x 1.8x Accelerate commits per engi
Slide 28: How our roadmap is leveraging this advantage
NEAR-TERM INNOVATIONS How our roadmap is leveraging this advantage Prioritizing high-impact workflow automation opportunities that drive cleaner claims, faster payments + fewer denials ROADMAP EXAMPLES FRONT-END MID-CYCLE BACK-END Financial clearance + payments Clinical integrity + revenue capture R
Slide 29: Waystar AltitudeAI enables monetization expansion
Waystar AltitudeAI enables monetization expansion AltitudeAI drives greater platform monetization by deepening client value, expanding share of wallet, and enabling new product adjacencies SHARE OF WALLET EXPANSION CATEGORY CREATION AUTO COVERAGE DETECTION PREBILL ANOMALY Monetization: Increased 20%
Slide 30: Launchpad for the future of healthcare revenue cycle
VISION Launchpad for the future of healthcare revenue cycle As autonomy increases, so does the opportunity to transform both provider economics and Waystar’s growth model 3 AUTONOMOUS REVENUE VALUE + AUTONOMY OPERATIONS 2 + Agents orchestrate workflows end-to-end AGENTIC LAUNCHPAD + Disrupt labor-in
Slide 33: A broad market with common buying priorities
OUR MARKET A broad market with common buying priorities Healthcare organizations vary in size and complexity, yet their core challenges and desired outcomes remain consistent WHO WE SERVE Medical Acute Ambulatory Post-acute + Healthcare specialties Patients care care home-based care support orgs + a
Slide 34: The challenge of the healthcare revenue cycle
A COMPLEX SERIES OF INTERACTIONS The challenge of the healthcare revenue cycle Every step of a patient’s journey requires multiple processes to be executed flawlessly for the provider to be paid for the care they delivered Patient hurts knee Provider sees patient Administrator manages falling down t
Slide 35: Waystar is the system of action for the revenue cycle
Waystar is the system of action for the revenue cycle EHRs record the care journey — Waystar uses that data to activate workflows across providers, payers, and patients, driving reimbursement and efficiency SYSTEMS SYSTEM OF ACTION CONNECTION OF RECORD NETWORK Activates revenue cycle workflows with
Slide 36: Performing across a fragmented landscape
OUR RIGHT TO WIN Performing across a fragmented landscape Solving end-to-end revenue cycle challenges, providing clients with a comprehensive platform driving meaningful outcomes 15+ Vendor displacement potential for providers that adopt Waystar’s platform end-to-end software platform Clinical Patie
Slide 37: Multiple points of entry + clear expansion paths
COMPLEXITY CREATES OPPORTUNITY Multiple points of entry + clear expansion paths Waystar solves for specific pain points throughout the revenue cycle, creating numerous entry points while establishing a foothold for client platform expansion FRONT-END MID-CYCLE BACK-END COMMON Claim + Payer Payment M
Slide 38: Proven, repeatable growth model
Proven, repeatable growth model A purpose-built growth engine combining specialized sales teams, 500+ integrations, and 200+ channel relationships to expand market share NEW CLIENT ACQUISITION 85% win rate1 CLIENT EXPANSION 108-110% net revenue retention2 Specialized teams with proven playbooks HEAL
Slide 39: Capitalizing on our right to win
RECENT WAYSTAR GROWTH CASE STUDIES Capitalizing on our right to win Successfully compounding growth across new and existing clients through platform sales, module adoption, and upgrades New client acquisition Existing client expansion Existing client expansion PLATFORM SALE NEW MODULE ADOPTION AI OF
Slide 40: Scale drives performance + earns the right to win
GROWTH THROUGH IMPROVED CLIENT PERFORMANCE Scale drives performance + earns the right to win Waystar’s growth is self-driving — as more clients send more data, all clients benefit, creating a virtuous cycle of increased client value, client retention, client expansion, and net new client additions L
Slide 42: We'll resume shortly
WAYSTAR TRUE NORTH™ INVESTOR DAY We'll resume shortly Up next — Client Panel: Real Revenue Cycle Impact The webcast will resume automatically. No need to refresh.
Slide 44: Innovation shaped by client community
TRUSTED PARTNERSHIP Innovation shaped by client community Waystar partners with clients to ensure innovation is practical, trusted, and built for performance impact Waystar Advisory Board Waystar Early Adopter Program Prominent healthcare organization leaders Clients gain early access to emerging pr
Slide 45: Meet today's speakers
WAYSTAR CLIENT PANEL Meet today’s speakers MODERATOR PANELISTS Lisa Candice Lisa Chris Genevieve Steve Osborne Brown Davis Griffin Kiser Sagett Burr Senior Vice President Chief Revenue Chief Consumer Enterprise Chief Revenue Senior Vice President, © 2026 Waystar. All rights reserved. Product Marketi
Slide 48: Meet today's speakers
Q+A Meet today’s speakers MODERATOR PANELISTS Edward Matt Todd William Brendan Sean Parker Hawkins Woods Chan O’Connor Joyce SVP, Investor Chief Executive Chief Consumer Chief Product + EVP, Product EVP, © 2026 Waystar. All rights reserved. Relations Officer Officer AI Officer Management Engineering

Waystar — Investor Day (2026) on 6ix

Waystar — Investor Day (2026)

Slide 1: Welcome to Waystar Investor Day

Slide 2: Forward-Looking Statements

Slide 3: Today's agenda

Slide 4: Advancing the Future of the Revenue Cycle

Slide 5: A community built on results, partnership + innovation

Slide 6: © 2026 Waystar. All rights reserved.

Slide 7: © 2026 Waystar. All rights reserved.

Slide 8: The journey to increasing shareholder value

Slide 9: Waystar today

Slide 10: Revenue cycle pressure is intensifying

Slide 11: Substantial market opportunity with long-term growth runway

Slide 12: Substantial market opportunity with long-term growth runway

Slide 13: Unmatched visibility drives better outcomes + durable advantage

Slide 14: The next era of the revenue cycle is autonomous

Slide 15: The autonomous revenue cycle of the future is…

Slide 16: Durable growth + profitability create financial capacity

Slide 17: Disciplined capital allocation supports long-term value creation

Slide 18: How Waystar creates + compounds value

Slide 19: Thank you

Slide 20: The Waystar Platform Advantage

Slide 21: One platform. Powerful AI. Proven results.

Slide 22: The foundation powering the next era of the revenue cycle

Slide 23: Extensively deployed network advantage

Slide 24: Extensive proprietary data

Slide 25: A four-layer intelligent agentic stack

Slide 26: Purpose-built for differentiated AI strategy

Slide 27: AI is accelerating engineering productivity

Slide 28: How our roadmap is leveraging this advantage

Slide 29: Waystar AltitudeAI enables monetization expansion

Slide 30: Launchpad for the future of healthcare revenue cycle

Slide 31: Thank you

Slide 32: The Waystar Go-to-Market Engine

Slide 33: A broad market with common buying priorities

Slide 34: The challenge of the healthcare revenue cycle

Slide 35: Waystar is the system of action for the revenue cycle

Slide 36: Performing across a fragmented landscape

Slide 37: Multiple points of entry + clear expansion paths

Slide 38: Proven, repeatable growth model

Slide 39: Capitalizing on our right to win

Slide 40: Scale drives performance + earns the right to win

Slide 41: Thank you

Slide 42: We'll resume shortly

Slide 43: Revenue Cycle Impact

Slide 44: Innovation shaped by client community

Slide 45: Meet today's speakers

Slide 46: Thank you

Slide 47: Q+A

Slide 48: Meet today's speakers

Slide 49: Thank you