Filing Flows › WEX (WEX) › Q1 2026
WEX (WEX) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 23, 2026
WEX (WEX) reported revenue of $674M for the first quarter 2026 (Q1 2026), +6% from a year earlier and +0.1% from the quarter before. Operating margin was 23.5%, net earnings $77.7M (11.5% of revenue).
WEX, Q1 2026: revenue $674M (+6% year over year), operating margin 23.5%, net earnings $77.7M, operating cash flow −$331M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $674M | +0.1% | +6% |
| Operating profit | $158M | -5% | +0.6% |
| Net earnings | $77.7M | -8% | +9% |
| Operating cash flow | −$331M | -212% | — |
What changed
Revenue was $673.8M in Q1 2026, up 6% year over year and roughly flat from the previous quarter. Payment processing revenue was the largest line at 42% of revenue. Other revenue added $17.0M year over year (up 15%), 46% of the total change.
Operating profit was $158.2M, a 23.5% margin (down 1.2 points year over year). Of the extra revenue versus Q1 2025, 2% reached operating profit, below the 25% margin then. Total costs grew 8% against revenue growth of 6%. The fastest-growing cost line was General & admin (+18%). Net earnings were $77.7M, up 9% year over year. The effective tax rate was 28.4%.
Operating cash flow was −$330.8M. Non-cash charges added back $81.6M of depreciation and amortization and $27.5M of share-based compensation. Working capital and other items used $517.6M. Capital expenditures of $37.5M exceeded it, leaving free cash flow of −$368.3M.
Questions
What was WEX's revenue in the first quarter 2026?
WEX (WEX) reported revenue of $674M for the first quarter 2026 (Q1 2026), +6% from a year earlier and +0.1% from the quarter before.
Was WEX profitable in the first quarter 2026?
Operating profit was $158M (23.5% of revenue) and net earnings $77.7M.
Source: WEX 10-Q on SEC EDGAR.