WEX Inc.
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 13, 2026
WEX$180.51-1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations for the Years Ended and
| Table of Contents | PART II |
|---|
WEX Inc. Consolidated Statements of Operations
(in millions, except per share data)
| Year ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Revenues | |||
| Payment processing revenue | $1,142.8 | $1,200.5 | $1,213.7 |
| Account servicing revenue | 726.0 | 690.6 | 646.4 |
| Finance fee revenue | 321.3 | 298.2 | 314.2 |
| Other revenue | 470.7 | 438.9 | 373.7 |
| Total revenues | 2,660.8 | 2,628.1 | 2,548.0 |
| Cost of services | |||
| Processing costs | 665.2 | 647.7 | 621.6 |
| Service fees | 95.9 | 83.7 | 73.3 |
| Provision for credit losses | 78.4 | 68.2 | 89.8 |
| Operating interest | 109.0 | 104.1 | 84.2 |
| Depreciation and amortization | 152.1 | 134.0 | 104.4 |
| Total cost of services | 1,100.6 | 1,037.8 | 973.3 |
| General and administrative | 330.2 | 375.8 | 428.0 |
| Sales and marketing | 387.0 | 341.0 | 327.8 |
| Depreciation and amortization | 179.0 | 187.3 | 171.8 |
| Operating income | 663.9 | 686.3 | 647.1 |
| Financing interest expense, net of financial instruments | (240.6) | (235.9) | (204.6) |
| Net foreign currency (loss) gain | (0.2) | (26.1) | 4.9 |
| Change in fair value of contingent consideration | (2.9) | (6.5) | (8.5) |
| Loss on extinguishment of Convertible Notes | — | — | (70.1) |
| Income before income taxes | 420.2 | 417.8 | 368.8 |
| Income tax provision | 116.1 | 108.2 | 102.2 |
| Net income attributable to shareholders | $304.1 | $309.6 | $266.6 |
| Net income attributable to shareholders per share: | |||
| Basic | $8.57 | $7.59 | $6.23 |
| Diluted | $8.47 | $7.50 | $6.16 |
| Weighted average common shares outstanding: | |||
| Basic | 35.5 | 40.8 | 42.8 |
| Diluted | 35.9 | 41.3 | 43.3 |
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