Squeezed states of light are used for precision metrology and quantum-enhanced measurements, with applications spanning communication and sensing. State-of-the-art squeezed-light sources typically rely on optical cavities to achieve high, usable levels of squeezing. Recently, waveguide-based squeezed-light sources have demonstrated significant improvements in achievable squeezing, with performance currently limited by fabrication-induced losses. In this work, we present a detailed analysis of waveguide-based squeezers, examining the effects of phase noise, multiple loss mechanisms, and fundamental light leakage seeding the squeezer. We further investigate a cascaded squeezer architecture, in which a second waveguide operates as a phase-sensitive amplifier to mitigate out-coupling and detection losses. Owing to their ease of integration, robustness to high pump powers, and low intrinsic phase noise, we propose waveguide-based squeezed-light sources as a promising alternative for quantum noise reduction in future gravitational wave detectors, such as the Einstein Telescope.