Slide 1: Wex Supplemental Material
Exhibit 99.2 Wex Supplemental Material February 5, 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 o4f the Company. Any statements in th
Slide 3: Forward-Looking Statements and Non-GAAP Information (continued)
• the actions of regulatory bodies, including tax, banking and securities regulators, or possible changes in tax, banking or financial regulations impacting the Company’s industrial bank, the Company as the corporate parent or other subsidiaries or affiliates; • the failure to comply with the Treasu
Slide 4: Financial Results
Financial Results • Total revenue for Q4 2024 decreased $26.8 million compared to Q4 2023 driven by a net $26.6 million unfavorable impact from fuel prices and spreads and a $1.3 million unfavorable impact from foreign exchange rates. • While macroeconomic headwinds impacted results, our strategic p
Slide 5: Financial results by segment
The following table summarizes our financial results by segment for the most recent quarter and last twelve-month period. (Unaudited) For the three months ended 12/31/24 For the twelve months ended 12/31/24 Corporate Corporate Mobility Benefits Payments Total Mobility Benefits Payments Total Revenue
Slide 6: Mobility Segment
Mobility Segment Within our Mobility segment, operating through North American, Over-the-Road, and International business units, WEX is a leader in fleet payment solutions, transaction processing, and information management. We serve diverse fleet needs globally, from Over-the-Road to locally operat
Slide 7: Mobility segment results and select metrics
The following table reflects segment results and select other metrics within Mobility. All amounts are in millions, except for per transaction and per gallon data: (Unaudited) For the three months ended For the twelve months ended 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/
Slide 8: Benefits Segment
Benefits Segment WEX's Benefits segment simplifies employee benefit plan administration through SaaS software integrated with payment solutions. We deliver diverse product offerings including Benefit Administration, Health Savings Accounts, Flexible Spending Accounts, Health Reimbursement Arrangemen
Slide 9: Benefits segment results and select metrics
The following table reflects segment results and select other metrics within Benefits. All amounts are in millions, except for yields: (Unaudited) For the three months ended For the twelve months ended 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 12/31/22 12/31/23 12/31
Slide 10: Investment Balances ($M)
The following chart shows the maturity profile of the investment securities and deposits as of December 31, 2024, held as a result of being a custodian of HSA accounts. The blended portfolio yield shown is the current return earned on the balances maturing each year. HSA Investments Vintages by Matu
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 three months ended For the twelve months ended 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 12/31/22 12/31/23 12/31/24 Revenues Total Re
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) 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 Cash and Cash Equiv
Slide 14: Cash Flow
Cash Flow The following table presents our operating cash flow and adjusted cash flow metric: (Unaudited) For the three months ended For the twelve months ended (In millions) 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 12/31/22 12/31/23 12/31/24 Operating Cash Flow, as
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) 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 Capital Expenditures $ 37.4 $ 30.6 $ 34.6 $ 36.4 $ 41.9 $ 34.0 $ 39.6 $ 35.0 $ 38.7 Acquis
Slide 16: Financial Guidance
Financial Guidance We are adjusting our long-term organic revenue growth targets from 8-12% to the 5-10% range to reflect updated market insights. In addition, as a result of this change, we are also updating our long-term adjusted earnings per share target to the 10-15% range. We believe these upda
Slide 17: Full Year 2025 Revenue Guidance Walk and ANI per Share Walk
The following tables include 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 target main
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)
Payment processing $ of fuel Total dollar value of the fuel purchased by fleets that have a payment processing relationship with WEX. Payment processing Total number of purchases made by fleets that have a payment processing relationship with the Company where the Company transactions maintains the
Slide 20: Reconciliation of GAAP Net Income to Adjusted Net Income
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 (Unaudited) For the three months ended For the twelve months ended 12/31/22 3/31/23 6/30/2
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 (Unaudited) For the three months ended For the twelve months ended 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 12/31/22 12/31/23 12/31/24 Operating income $
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