Waystar Holding Corp.
For the period ended Sep 30, 2026. Filed Nov 2, 2026.
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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, 2026 · Filed Nov 2, 2026
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 Statements of Cash Flows
Unaudited Condensed Consolidated Statements of Cash Flows (in Thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net income | $115,175 | $92,101 |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Depreciation and amortization | 124,384 | 100,106 |
| Stock-based compensation | 49,691 | 29,871 |
| Provision for bad debt expense | 2,884 | 2,605 |
| Loss on extinguishment of debt | 113 | 711 |
| Impairment expense | 1,990 | — |
| Deferred income taxes | (37,490) | 22,959 |
| Amortization of debt discount and issuance costs | 2,010 | 2,021 |
| Other | 86 | — |
| Changes in: | ||
| Accounts receivable | (12,854) | (3,045) |
| Income tax receivable | 6,437 | 2,838 |
| Prepaid expenses and other current assets | (4,898) | (4,980) |
| Deferred costs | (16,282) | (7,116) |
| Other long-term assets | 705 | (2,362) |
| Accounts payable and accrued expenses | 20,824 | 10,580 |
| Deferred revenue | (3,006) | (1,863) |
| Operating lease right-of-use assets and lease liabilities | (1,582) | (1,387) |
| Net cash provided by operating activities | 248,187 | 243,039 |
| Cash flows from investing activities | ||
| Purchase of property and equipment and capitalization of internally developed software costs | (41,359) | (17,069) |
| Purchase of investment securities | (368,341) | (206,444) |
| Proceeds from sale or maturity of investment securities | 149,088 | 206,444 |
| Measurement period adjustments related to prior year acquisition | 2,037 | — |
| Net cash used in investing activities | (258,575) | (17,069) |
| Cash flows from financing activities | ||
| Change in aggregated funds liability | 8,265 | 1,789 |
| Repurchase of common stock | (33,487) | — |
| Proceeds from issuance of common stock from employee equity plans | 24,628 | 22,439 |
| Proceeds from issuances of debt, net of creditor fees | 19,800 | — |
| Payments on debt | (30,646) | (8,751) |
| Finance lease liabilities paid | — | (672) |
| Net cash provided by (used in) financing activities | (11,440) | 14,805 |
| Increase/(decrease) in cash and cash equivalents during the period | (21,828) | 240,775 |
| Cash and cash equivalents and restricted cash–beginning of period | 76,809 | 204,582 |
| Cash and cash equivalents and restricted cash–end of period | $54,981 | $445,357 |
| Supplemental disclosures of cash flow information | ||
| Interest paid | $62,124 | $59,303 |
| Cash taxes paid (refunds received), net | 58,882 | 9,439 |
| Non-cash investing and financing activities | ||
| Fixed asset purchases in accounts payable | 996 | 539 |
| Reconciliation of Balance Sheet Cash Accounts to Cash Flow Statement | ||
| Balance sheet | ||
| Cash and cash equivalents | 30,820 | 421,056 |
| Restricted cash | 24,161 | 24,301 |
| Total | $54,981 | $445,357 |
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