Filing Flows › WEX (WEX) › Q1 2025
WEX (WEX) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
WEX (WEX) reported revenue of $637M for the first quarter 2025 (Q1 2025), -2% from a year earlier and 0% from the quarter before. Operating margin was 24.7%, net earnings $71.5M (11.2% of revenue).
WEX, Q1 2025: revenue $637M (-2% year over year), operating margin 24.7%, net earnings $71.5M, operating cash flow −$482M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $637M | 0% | -2% |
| Operating profit | $157M | 0% | -4% |
| Net earnings | $71.5M | +12% | +9% |
| Operating cash flow | −$482M | — | — |
What changed
Revenue was $636.6M in Q1 2025, down 2% year over year and roughly flat from the previous quarter. Mobility was the largest line at 52% of revenue. Corporate Payments lost $19.0M year over year (down 16%), 118% of the total change.
Operating profit was $157.3M, a 24.7% margin (down 0.5 points year over year). Total costs fell 2% while revenue fell 2%. Net earnings were $71.5M, up 9% year over year. The effective tax rate was 28.8%.
Operating cash flow was −$481.6M. Non-cash charges added back $81.5M of depreciation and amortization and $12.6M of share-based compensation. Working capital and other items used $647.2M. Capital expenditures of $144.5M exceeded it, leaving free cash flow of −$626.1M.
Questions
What was WEX's revenue in the first quarter 2025?
WEX (WEX) reported revenue of $637M for the first quarter 2025 (Q1 2025), -2% from a year earlier and 0% from the quarter before.
Was WEX profitable in the first quarter 2025?
Operating profit was $157M (24.7% of revenue) and net earnings $71.5M.
Source: WEX 10-Q on SEC EDGAR.