Slide 1: Q1 2025 Earnings
Wext Q1 2025 Earnings May 1, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements These materials include forward-looking statements including, but not limited to, statements about management’s plans, goals, expectations, and guidance and assumptions with respect to future financial performance of the Company. Any statements in this presentation that ar
Slide 3: Quarter Highlights
Quarter Highlights $636.6M $3.51 (2)% +1% 1 Revenue Adjusted Net Income Per Diluted Share Percent change from prior year quarter Percent change from prior year quarter Key Takeaways • Q1 revenue above mid point of guidance • Adjusted net income per diluted share above the guidance range largely due
Slide 4: Key Takeaways
Key Takeaways Our foundational strengths Our roadmap for growth Operate in robust sectors with strong Increasing Sales & Marketing spend to advantages, benefiting from economic capitalize on market opportunities and tailwinds that drive growth maximize strong sales team returns Strong moats paired w
Slide 5: Q1 2025 Financial Results
Q1 2025 Financial Results wex
Slide 6: Company Results
Company Results (In millions except per share data) Q1 25 Q1 24 $ ∆ Yr/Yr % ∆ Yr/Yr Total Revenue $636.6 $652.7 $(16.1) (2)% GAAP net income $71.5 $65.8 $5.7 9 % GAAP net income per diluted share $1.81 $1.55 $0.26 17 % 1 Adjusted net income $138.4 $146.7 $(8.3) (6) % 1 Adjusted net income per dilute
Slide 7: Revenue and Adjusted Operating Income Margin by Segment
Revenue and Adjusted Operating Income Margin by Segment 1 Mobility Corporate Payments Benefits WEX (2.5)% $652.7 $636.6 (1.5)% $339.0 $333.8 .2% $191.2 4 $199.3 (15.5)% $122.5 $103.5 38.6% 39.4% 52.7% 39.1% 41.5% 43.6% 38.5% 36.7% Q1 24 Q1 25 Q1 24 Q1 25 Q1 24 Q1 25 Q1 24 Q1 25 Revenue Revenue Reven
Slide 8: Adjusted Free Cash Flow & Balance Sheet Leverage
Cash Flow & Balance Sheet Cash Flow, Q1 YTD $16 1 Adjusted free cash flow of $16 million year Adjusted Free ($ Millions) ◦ to date ◦ Trailing twelve months' adjusted free cash 1 $(9) flow of $587 million 03/31/25 03/31/24 2 ◦ Corporate cash balance was $610 $596 ($ Millions) approximately $163 milli
Slide 9: Capital Allocation
Capital Allocation Capital Deployed Key Takeaways ◦ WEX allocates capital through a rigorous 2024 2025 YTD analytical process focused on long-term internal rate of return ◦ Have returned $2.0 billion to 4% shareholders via share repurchases since 16% 10% 2022, including $790 million during the first
Slide 10: Updated Guidance
Updated Guidance Change vs Prior Q2 2025 % Change FY 2025 % Change FY Guidance at Outlook YoY Outlook YoY Midpoint Revenue (in millions) $640 - $660 (5)% - (2)% $2,568 - $2,628 (2)% - —% $(32) Adjusted Net Income per 1 $ 3.60 - $3.80 (8)% - (3)% $14.72 - $15.32 (4)% - —% $0.07 Diluted Share Assumed
Slide 11: Guidance Assumptions
Guidance Assumptions Guidance also includes the following assumptions: • U.S. GDP growth of approximately 2% in 2025; guidance is based upon current trends and does not include the impact of a potential further slowdown in the economy • No benefits from future M&A activity • Interest rate decreases
Slide 12: Appendix
Appendix wex
Slide 13: 10-Year Revenue Growth
10-Year Revenue Growth $2,628 $2,548 .4% $2,351 R 12 e CAG nu Reve $1,851 $1,724 $1,560 $1,492 $1,249 $1,012 $818 $854 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Mobility Corporate Payments Benefits Reported revenue is in millions of dollars (USD). 1Q25 13
Slide 14: Key Performance Indicators
Key Performance Indicators (In millions unless otherwise noted) Q1 25 Q1 24 $ ∆ Yr/Yr % ∆ Yr/Yr Mobility segment Total Volume ($)* 18,751 19,943 (1,192) (6)% Payment Processing Transactions 134.5 136.9 (2.4) (2)% Payment Processing $ of Fuel 12,018 13,061 (1,043) (8)% Net Payment Processing Rate (%)
Slide 15: Corporate Payments Segment Revenue, Margin, Volume, and Net Interchange Rate
Corporate Payments Segment Revenue, Margin, Volume, and Net Interchange Rate Corporate Payments Revenue and Adjusted Operating Income Margin $160.0 Key Takeaways $134.1 Adjusted Operating $126.9 for all periods ($M) Revenue, net basis $122.5 60.0% $104.3 $103.5 ◦ Statistics reflect migration of larg
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation Reconciliation of GAAP Operating Income to Non-GAAP Total Segment Adjusted Operating Income and Adjusted Operating Income Three months ended March 31, 1 1 In millions 2025 (margin) 2024 (margin) Operating income $ 157.3 24.7 % $ 164.5 25.2 % Unallocated corporate expenses 24.
Slide 17: Non-GAAP Reconciliation
Non-GAAP Reconciliation Reconciliation of GAAP Net Income to Non-GAAP Adjusted Net Income and Adjusted Net Income per Share Three Months Ended March 31, 2025 2024 In millions except per diluted share data per diluted share per diluted share Net income $ 71.5 $ 1.81 $ 65.8 $ 1.55 Unrealized (gain) lo
Slide 18: Non-GAAP Reconciliation
Non-GAAP Reconciliation The Company's non-GAAP adjusted net income excludes unrealized gains and losses on financial instruments, net foreign currency gains and losses, acquisition-related intangible amortization, other acquisition and divestiture related items, stock- based compensation, other cost
Slide 19: Non-GAAP Reconciliation
Non-GAAP Reconciliation Reconciliation of GAAP Operating Cash Flow to Non-GAAP Adjusted Free Cash Flow The Company’s non-GAAP adjusted free cash flow has historically been calculated as cash flows from operating activities adjusted for net purchases of current investment securities, capital expendit