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Waystar: How the Iodine Acquisition Is Reshaping Margins and Growth Behind the Scenes!

Waystar reported strong financial and operational results for the fourth quarter and full fiscal year 2025, highlighting its sustained revenue growth and strategic expansion within the healthcare revenue cycle management (RCM) market. Total revenue for the quarter reached $304 million, a 24% year-over-year increase driven by both subscription and volume-based revenue, with organic growth of 12%. Full-year revenue surpassed $1 billion, up 17% year-over-year, consistent with the company’s low double-digit growth target. This performance reflects strong client retention and onboarding, with 85 new clients generating more than $100,000 in trailing twelve-month revenue in Q4 alone, marking accelerated customer acquisition. The net revenue retention rate stood at 112%, and customer satisfaction remained high with a Net Promoter Score above 70.