Waystar Holding Corp.
For the period ended Sep 30, 2025. Filed Oct 29, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 29, 2025
WAY$29.30+0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Balance Sheets
Unaudited Condensed Consolidated Balance Sheets (in Thousands, Except for Share and Per Share Data)
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $421,056 | $182,133 |
| Restricted cash | 24,301 | 22,449 |
| Accounts receivable, net of allowance of $5,895 at September 30, 2025 and $5,885 at December 31, 2024 | 145,675 | 145,235 |
| Income tax receivable | — | 2,838 |
| Prepaid expenses | 20,557 | 14,414 |
| Other current assets | 1,993 | 3,972 |
| Total current assets | 613,582 | 371,041 |
| Property, plant and equipment, net | 48,172 | 46,731 |
| Operating lease right-of-use assets, net | 11,026 | 10,820 |
| Intangible assets, net | 954,967 | 1,039,049 |
| Goodwill | 3,019,999 | 3,019,999 |
| Deferred costs | 90,131 | 82,815 |
| Other long-term assets | 8,479 | 6,549 |
| Total assets | $4,746,356 | $4,577,004 |
| Liabilities and stockholders’ equity | ||
| Current liabilities | ||
| Accounts payable | $51,401 | $47,365 |
| Accrued compensation | 28,300 | 31,589 |
| Aggregated funds payable | 23,848 | 22,059 |
| Other accrued expenses | 26,757 | 15,930 |
| Deferred revenue | 9,018 | 10,527 |
| Current portion of long-term debt | 11,099 | 11,311 |
| Related party current portion of long-term debt | 569 | 357 |
| Current portion of operating lease liabilities | 5,687 | 5,591 |
| Current portion of finance lease liabilities | 973 | 904 |
| Total current liabilities | 157,652 | 145,633 |
| Long-term liabilities | ||
| Deferred tax liability | 123,034 | 100,523 |
| Long-term debt, net, less current portion | 1,158,411 | 1,185,411 |
| Related party long-term debt, net, less current portion | 55,783 | 35,211 |
| Operating lease liabilities, net of current portion | 11,855 | 13,133 |
| Finance lease liabilities, net of current portion | 10,549 | 11,290 |
| Deferred revenue - long-term | 5,385 | 5,739 |
| Other long-term liabilities | 1,091 | 278 |
| Total liabilities | 1,523,760 | 1,497,218 |
| Commitments and contingencies (Note 19) | ||
| Stockholders’ equity | ||
| Preferred stock $0.01 par value - 100,000,000 and 100,000,000 shares authorized as of September 30, 2025 and December 31, 2024, respectively; zero shares issued or outstanding as of September 30, 2025 and December 31, 2024, respectively | — | — |
| Common stock $0.01 par value - 2,500,000,000 and 2,500,000,000 shares authorized at September 30, 2025 and December 31, 2024, respectively; 174,667,840 and 172,108,240 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively | 1,747 | 1,722 |
| Additional paid-in capital | 3,350,190 | 3,298,083 |
| Accumulated other comprehensive income (loss) | (542) | 881 |
| Accumulated deficit | (128,799) | (220,900) |
| Total stockholders’ equity | 3,222,596 | 3,079,786 |
| Total liabilities and stockholders’ equity | $4,746,356 | $4,577,004 |
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