Waystar Holding Corp 2026年季度报告

(Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______Commission File Number: 001-42125 Waystar Holding Corp.(Exact name of registrant as specified in its charter) (844) 492-9782 (Registrant’s telephone number, including area code) Not applicable(Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to suchfiling requirements for the past 90 days. YesNo☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submitsuch files). YesNo☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oran emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growthcompany" in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No The registrant had outstanding 191,812,891 shares of common stock as of April 23, 2026. Glossary The following definitions apply to these terms as used in this Quarterly Report on Form 10-Q: "Advent" means those certain investment funds of Advent International, L.P. and its affiliates; “AI” means artificial intelligence; “Bain” means those certain investment funds of Bain Capital, LP and its affiliates; “CPPIB” means Canada Pension Plan Investment Board; “Credit Facilities” means, collectively, the First Lien Credit Facility, the Revolving Credit Facility, and the Receivables Facility; “Derby TopCo” means Derby TopCo Partnership LP, our direct parent entity prior to the Equity Distribution, in which theInstitutional Investors, other equity holders, and certain members of management previously held equity interests; “EQT” means those certain investment funds of EQT AB and its affiliates; “Equity Distribution” means the distribution of shares of our common stock held by Derby TopCo to the limited partners of DerbyTopCo in accordance with the limited partnership agreement of Derby TopCo, which distribution occurred in connection with ourinitial public offering. Following the Equity Distribution, EQT, CPPIB, Bain, and other equity holders, including members ofmanagement, directly hold shares of our common stock; “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended; “First Lien Credit Facility” means the term loan credit facility under the first lien credit agreement, dated as of October 22, 2019,by and among Waystar Technologies, Inc. and the lenders party thereto, as amended from time to time; “GAAP” means U.S. generally accepted accounting principles; “Institutional Investors” means EQT, CPPIB, and Bain, and their respective affiliates; “Iodine” means Iodine Software Holdings, Inc.; “Net Revenue Retention Rate” means the total amount invoiced to clients in a given twelve-month period divided by the totalamount invoiced to those same clients from the prior twelve-month period. See “Management’s Discussion and Analysis of FinancialCondition and Results of Operations—Key Performance Metrics and Non-GAAP Financial Measures—Net Revenue Retention Rate”; “NM” means not meaningful; “2025 Form 10-K” means the Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC by WaystarHolding Corp. on February 17, 2026; “Receivables Facility” means the receivables facility under the receivables financing agreement, dated as of August 12, 2021, byand among Waystar RC LLC, PNC Bank, National Association, as administrative agent, Waystar Technologies, Inc., as initial servicer,and PNC Capital Markets LLC, as structuring agent, as amended from time to time; “Revolving Credit Facility” means the revolving credit facility under the first lien credit agreement, dated as of October 22, 2019,by and among Waystar Technologies, Inc. and the lenders party thereto, as amended from time to tim