WEX (WEX) Status update summary

Business overview and segment performance

• Operates globally in three segments: Mobility (fleet cards), Benefits (HSAs), and Corporate Payments (B2B payments).

• Mobility segment offers fleet cards with spend controls and fraud protection via a closed-loop network.

• Benefits segment manages HSA accounts, ensuring compliance and providing fraud tools.

• Corporate Payments segment enables electronic B2B payments, focusing on compliance and reporting.

• Competes with banks and fintechs; leverages technology and bank status for a competitive edge.

Financial performance and guidance

• Achieved 11% revenue and 17% EPS CAGR over the past decade, outperforming peers in Mobility and Benefits.

• Delivered record revenue and earnings in 2025, surpassing prior projections.

• Q1 2026 results exceeded guidance, with revenue and adjusted earnings up year-over-year.

• Mobility revenue grew 3.2% YoY; Benefits saw 8% HSA account growth; Corporate Payments revenue up 9.3%.

• Raised 2026 guidance, expecting another record year and 75 bps margin improvement at midpoint.

Strategic initiatives and operational improvements

• Launched new Mobility solutions, increased sales/marketing, and implemented targeted price increases.

• Rolled out integrated EV offerings and expanded Corporate Payments beyond travel.

• Leveraged AI to improve risk tools, product innovation, and operational efficiency, reducing headcount by 8%.

• Focused on scaling investments to drive operating leverage and margin improvement.