Waystar joins S&P SmallCap 600 index effective September 22

Waystar Holding Corp. (NASDAQ: WAY) joined the S&P SmallCap 600 Index effective before market opening on September 22, 2025, according to a company statement.

The healthcare payment software provider processes over $1.8 trillion in gross claims annually and serves more than one million providers through approximately 30,000 clients. The company reported net revenue retention of 115% and an increase in scaled clients of up to 15% year-over-year.

"Our addition to the S&P SmallCap 600 reflects the strength of Waystar's AI-powered software platform and our consistent execution since our IPO," said Matt Hawkins, Chief Executive Officer of Waystar. "Over the past 15 months, we have delivered double-digit revenue growth, sustained robust margins, and advanced our innovation strategy to drive durable growth and long-term shareholder value."

The company's platform processes over 6 billion healthcare payment transactions annually and serves 16 of the 20 institutions listed on the U.S. News Best Hospitals list. Waystar's operations span approximately 50% of U.S. patients.

Recent product innovations include Waystar AltitudeAI, which the company states accelerates denial appeals three times faster and increases overturn rates by more than 40%.

The S&P SmallCap 600 Index includes companies that reflect the performance of U.S. equities at Waystar's scale. Index membership typically increases institutional investor visibility and trading liquidity for included companies.

Waystar is based in Lehi, Utah, and Louisville, Kentucky.

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