Slide 1: Wex Supplemental Material
Exhibit 99.2 Wex Supplemental Material April 30, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements These earnings supplemental materials contain 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 the
Slide 3: Forward-Looking Statements and Non-GAAP Information (continued)
• changes in interest rates, including those which we must pay for our deposits, those which we earn on our investment securities, and the resultant potential impacts to our debt securities subject to early call provisions; • the ability to refinance certain indebtedness or obtain additional financi
Slide 4: Financial Results
Financial Results • Total revenue for Q1 2025 decreased $16.1 million compared to Q1 2024 driven by a net $8.5 million unfavorable impact from fuel prices and spreads and a $2.5 million unfavorable impact from foreign exchange rates. • Q1 2025 results were largely in line with guidance provided in F
Slide 5: Financial results by segment
The following table summarizes our financial results by segment for the most recent quarter and for the twelve months ended December 31, 2024, in millions except for margin. (Unaudited) For the three months ended 3/31/25 For the twelve months ended 12/31/24 Corporate Corporate Mobility Benefits Paym
Slide 6: Mobility Segment
Mobility Segment Within our Mobility segment, operating through North American, Over-the-Road, and International business units, WEX is a leader in fleet payment solutions, transaction processing, and information management. We serve diverse fleet needs globally, from Over-the-Road to locally operat
Slide 7: Mobility segment results and select metrics
The following table reflects segment results and select other metrics within Mobility. All amounts are in millions, except for per transaction and per gallon data: For the twelve months (Unaudited) For the three months ended ended 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/3
Slide 8: Benefits Segment
Benefits Segment WEX's Benefits segment simplifies employee benefit plan administration through SaaS software integrated with payment solutions. We deliver diverse product offerings including Benefit Administration, Health Savings Accounts, Flexible Spending Accounts, Health Reimbursement Arrangemen
Slide 9: Benefits segment results and select metrics
The following table reflects segment results and select other metrics within Benefits. All amounts are in millions, except for yields: For the twelve months (Unaudited) For the three months ended ended 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 12/31/23 12/31/24 Revenu
Slide 10: Investment Balances ($M)
The following chart shows the maturity profile of the investment securities and deposits as of March 31, 2025. The blended portfolio yield shown is the return earned on the balances maturing each year as of March 31, 2025. HSA Investments Vintages by Maturity and Yield $1,991 $2,000 8% $1,500 6% Inv
Slide 11: Corporate Payments Segment
Corporate Payments Segment WEX's Corporate Payments segment delivers global B2B payment solutions, powered by payment intelligence and workflow optimization, that enhance security, simplify processes, and drive revenue. Our Direct to Corporate solution automates Accounts Payable (AP) by integrating
Slide 12: Corporate Payments segment results and select metrics
The following table reflects segment results and select other metrics within Corporate Payments. All amounts are in millions: For the twelve months For the three months ended ended 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 12/31/23 12/31/24 Revenues Total Revenues $ 1
Slide 13: Balance Sheet and Debt
Balance Sheet and Debt The following table includes a further condensed version of our balance sheet as well as key operating metrics relevant to our balance sheet: (in millions, except for leverage ratio) 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 Cash and Cash Equiva
Slide 14: Cash Flow
Cash Flow The following table presents our operating cash flow and adjusted free cash flow metric: (Unaudited) For the three months ended (In millions) 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 Operating Cash Flow, as reported $ 27.1 $ 72.4 $ 46.5 $ 761.9 $ (153.3) $
Slide 15: Capital Allocation
Capital Allocation The following table presents our uses of cash over the preceding quarters: For the three months ended (In millions) 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 Capital Expenditures $ 30.6 $ 34.6 $ 36.4 $ 41.9 $ 34.0 $ 39.6 $ 35.0 $ 38.7 $ 32.6 Acquisi
Slide 16: Financial Guidance
Financial Guidance The following table presents our expectations for the second quarter and full year 2025: Financial Guidance Q2'25 Full Year 2025 Current Guidance Current Guidance Changes from Prior Guide at Midpoint Low High Low High $ Change % Change Fuel Price Impact Net Revenue, in millions $
Slide 17: Full Year 2025 Revenue Guidance Walk and ANI per Share Walk
The following tables include estimated revenue and ANI per share sensitivities to changes in PPG and interest rates as of the date of this supplement. As a reminder, the impacts of these macro factors can and will change based upon various factors including the composition of our balance sheet. We t
Slide 18: Acronyms and Abbreviations
Acronyms and Abbreviations The acronyms and abbreviations identified below are used in these supplemental materials. A non-GAAP measure calculated as cash flows from operating activities, adjusted for net purchases of current investment Adjusted free cash flow securities, capital expenditures, net F
Slide 19: Acronyms and Abbreviations (continued)
Interest expense incurred on the operating debt obtained to provide liquidity for the Company’s short-term receivables or used Operating interest for investing purposes in fixed income debt securities. Over-the-Road Typically, heavy trucks traveling long distances. Payment processing $ of fuel Total
Slide 20: Reconciliation of Non-GAAP Measures
Exhibit 1 Reconciliation of Non-GAAP Measures (in millions, except per share data) (unaudited) Reconciliation of GAAP Net Income Attributable to Shareholders to Adjusted Net Income Attributable to Shareholders For the twelve months (Unaudited) For the three months ended ended 3/31/23 6/30/23 9/30/23
Slide 21: Reconciliation of GAAP Operating Income to Adjusted Operating Income
Reconciliation of GAAP Operating Income to Total Segment Adjusted Operating Income and Adjusted Operating Income For the twelve months (Unaudited) For the three months ended ended 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 12/31/23 12/31/24 Operating income $ 154.3 $ 1
Slide 22: Non-GAAP adjustment explanations
• The change in fair value of contingent consideration, which is related to the acquisition of certain contractual rights to serve as custodian or sub-custodian to HSAs, is dependent upon changes in future interest rate assumptions and has no significant impact on the ongoing operations of the Compa
Slide 23: Reconciliation of GAAP Operating Cash Flow to Adjusted Free Cash Flow
Reconciliation of GAAP Operating Cash Flow to Adjusted Free Cash Flow The Company’s non-GAAP adjusted free cash flow is calculated as cash flows from operating activities, adjusted for net purchases of current investment securities, capital expenditures, net funding activity including the change in