Filing Flows › WEX (WEX) › Q2 2025
WEX (WEX) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 24, 2025
WEX (WEX) reported revenue of $660M for the second quarter 2025 (Q2 2025), -2% from a year earlier and +4% from the quarter before. Operating margin was 23.8%, net earnings $68.1M (10.3% of revenue).
WEX, Q2 2025: revenue $660M (-2% year over year), operating margin 23.8%, net earnings $68.1M, operating cash flow $265M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $660M | +4% | -2% |
| Operating profit | $157M | -0.3% | -7% |
| Net earnings | $68.1M | -5% | -11% |
| Operating cash flow | $265M | — | — |
| Free cash flow | $230M | — | — |
What changed
Revenue was $659.6M in Q2 2025, down 2% year over year and up 4% from the previous quarter. Mobility was the largest line at 52% of revenue. Corporate Payments lost $15.8M year over year (down 12%), 114% of the total change.
Operating profit was $156.8M, a 23.8% margin (down 1.2 points year over year). Total costs fell 1% while revenue fell 2%. Net earnings were $68.1M, down 12% year over year. The effective tax rate was 27.0%.
Operating cash flow was $264.6M, 389% of net earnings. Non-cash charges added back $84.0M of depreciation and amortization and $31.7M of share-based compensation. Working capital and other items added $80.8M. Capital expenditures of $34.6M left free cash flow of $230.0M.
Questions
What was WEX's revenue in the second quarter 2025?
WEX (WEX) reported revenue of $660M for the second quarter 2025 (Q2 2025), -2% from a year earlier and +4% from the quarter before.
Was WEX profitable in the second quarter 2025?
Operating profit was $157M (23.8% of revenue) and net earnings $68.1M.
Source: WEX 10-Q on SEC EDGAR.