0001309108-26-000010
SEC filingWEX Inc. reported strong FY 2025 financial performance with total revenues of $2.66B, driving operating income of $663.9M and net income attributable to shareholders of $304.1M. Diluted EPS reached $8 per share on 35.9M weighted average shares. Total cost of services was $1.10B, including processing costs of $665.2M, service fees of $95.9M, provision for credit losses of $78.4M, operating interest of $109.0M, and depreciation of $152.1M. General and administrative expenses stood at $330.2M, sales and marketing at $387.0M, with additional depreciation of $179.0M. Financing interest expense was $240.6M, offset by a $2.9M gain from change in fair value of contingent consideration. Balance sheet reflects total assets of $14.40B, with current assets $9.71B including $905.8M cash equivalents and $3.36B accounts receivable. Total liabilities $13.16B include $5.42B short-term deposits and $3.53B long-term debt, yielding stockholders’ equity of $1.23B. Operating cash flow generated $454.3M, while investing activities used $696.9M primarily for investment securities purchases, and financing provided $418.9M amid $799.8M stock repurchases. Net change in cash and restricted cash was +$241.4M to $1.86B. These results highlight robust profitability and liquidity supporting shareholder returns.
WEX Inc.'s FY 2025 10-K shows total revenues of $2.66B, up from prior periods though specific YoY not disclosed. Operating income reached $663.9M after total cost of services $1.10B, G&A $330.2M, sales & marketing $387.0M, and depreciation $179.0M. Income before taxes was $420.2M following $240.6M financing interest expense net of $2.9M contingent consideration gain and -$200K foreign currency loss. Income tax provision of $116.1M led to net income attributable to shareholders of $304.1M. Basic EPS $9 and diluted $8 on 35.5M basic and 35.9M diluted shares. Balance sheet grew to $14.40B total assets with $1.23B equity. Cash flows: operating $454.3M, investing -$696.9M, financing $418.9M, net cash +$241.4M to $1.86B including restricted cash.
Total revenues reported as $2.66B. No segment breakdown by product (payment processing, account servicing, finance fee, other) or geographic mix disclosed in XBRL data. Revenue line items show N/A for specific categories, with all revenue aggregated under total revenues $2.66B. No growth drivers or YoY segment changes provided in the filing data.
Operating income of $663.9M on $2.66B revenues implies ~25.0% operating margin (663.9 / 2660). Total cost of services $1.10B represents ~41.4% of revenues. Key cost components: processing $665.2M, service fees $95.9M, credit losses $78.4M, operating interest $109.0M, D&A $152.1M. Additional operating D&A $179.0M. No prior year margins for comparison. Profitability supported by $304.1M net income or ~11.4% net margin. No disclosed changes in cost structure.
Net cash from operations $454.3M, driven by $304.1M net income, $331.1M D&A, $100.3M stock comp, $78.4M credit provision, offset by $400.6M AR improvement. Capex $140.6M yields free cash flow ~$313.7M. Investing outflow -$696.9M mainly $1.73B securities purchases net of $1.25B sales. Financing inflow $418.9M despite $799.8M stock repurchases, $967.8M deposit growth, $550.0M senior notes, offset by credit facility net repayments. Balance sheet: $905.8M cash, $772.7M restricted cash, $4.33B current investments, $3.36B AR; liabilities feature $5.42B short-term deposits, $1.33B short-term debt, $3.53B long-term debt. Equity $1.23B after $2.22B treasury stock. Interest paid $333.6M.
No management guidance, strategic priorities, or risk factors explicitly disclosed in the provided XBRL financial data or document content. Commitments and contingencies noted in Note 19, but no forward-looking statements available.