Company / R&D Expense
Waystar Holding Corp R&D Expense History
FY2022-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$54.6M
FY2025
5-year range
$32.8M / $54.6M
FY2022-FY2025
Trend
+12.0%
vs FY2024
Sector context
#76 of 110
Health Care
What the data says
At $55M, Waystar Holding Corp's r&d expense ranks #76 of 110 in the Health Care sector. R&D Expense has increased for 3 consecutive years, from $33M in FY2022 to $55M in FY2025.
Based on SEC 10-K filings.
$55M in FY2025 with a 3-year CAGR of +18.5%.
Improved from $35M to $55M over the past 2 years.
Health Care sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +18.5%
- 5-Year CAGR
- -
- 10-Year CAGR
- -
Sector benchmark
#76 of 110 in Health CareTop 69% of 110This company $54.6M Sector average $298.2M
▼
-81.7% below sector average
Key checks
Key Insights
- Waystar Holding Corp's r&d expense has grown for 3 consecutive years.
- 3-year CAGR of +18.5%, indicating consistent growth.
- In FY2025, r&d expense increased 12.0% year-over-year.
- Ranks #76 out of 110 companies in the Health Care sector.
Company context
Key Data Points
- Altman Z-Score 1.17 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $54.6M | +12.0% |
| FY2024 | $48.8M | +38.0% |
| FY2023 | $35.3M | +7.7% |
| FY2022 | $32.8M | - |
As of FY2025 · SEC 10-K · Updated Feb 28, 2026