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WAYBullishEarningsnews
High materiality9/10

Waystar Q2 2026 revenue up 18% and raises full-year guidance on AI platform

Jul 29, 2026, 4:12 PM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting

The combination of solid Q2 metrics, a higher revenue and EBITDA outlook, and robust cash flow typically primes shares for near-term upside as investors recalibrate the earnings power of the platform and AI-enabled offerings. Historical parallels show similar earnings upgrades often trigger 5–15% price moves within weeks when the guide implies durable growth, particularly for software-enabled healthcare payment platforms.

AI summary

What happened, with direct paths to the underlying reporting

Waystar reported Q2 2026 revenue of $319.7M, up 18% YoY, with GAAP net income of $40.9M and non-GAAP net income of $83.3M. The company raised 2026 guidance to $1.276–$1.294B in revenue and $535–$545M of Adjusted EBITDA, underscoring momentum from its AltitudeAI platform and expanding provider adoption. Net revenue retention remains strong at 108%, with subscription revenue up 34% and provider revenue up 23%, signaling a durable growth mix and improving cash generation for 2H24.

  • Waystar Q2 2026 revenue $319.7M, +18% YoY; growth driven by providers and subscriptions.
  • GAAP net income $40.9M; non-GAAP net income $83.3M; GAAP margin 13%, Adj EBITDA margin 43%.
  • Raises 2026 guidance: revenue $1.276–$1.294B; Adj EBITDA $535–$545M; non-GAAP EPS $1.61–$1.70.
  • NRR 108%; 1,453 clients >$100k in LTM revenue; subs revenue up 34%; provider revenue up 23%.
  • Cash flow robust: operating CF $59.4M; unlevered FCF $63.9M; AltitudeAI catalysts highlighted.

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