WEX Inc. Reports 2023 Financials, Payment Processing Revenue Hits $1.3B
Ticker: WEX · Form: 10-K · Filed: 2024-02-23T00:00:00.000Z
Sentiment: neutral
Topics: earnings, financial-report, revenue, 10-K
TL;DR
**WEX Inc. just dropped its 2023 10-K, showing over $1.3 billion in payment processing revenue!**
AI Summary
WEX Inc. filed its 10-K on February 23, 2024, for the fiscal year ended December 31, 2023. The filing details revenue streams, including Payment Processing Revenue of $1,309,108 for 2023, and Account Servicing Revenue for the same period. The company, headquartered in Portland, ME, operates under the SIC code 7389 (Business Services, NEC) and was formerly known as Wright Express CORP until November 18, 2004.
Why It Matters
This filing provides a comprehensive look into WEX Inc.'s financial health and operational performance, crucial for investors and stakeholders to assess its market position and future prospects in the business services sector.
Risk Assessment
Risk Level: medium — The filing provides financial data but lacks specific risk factors in the provided snippet, making a full assessment difficult, though the nature of financial services often carries inherent risks.
Key Numbers
- $1,309,108 — Payment Processing Revenue (for the fiscal year ended 2023)
- 2023 — Fiscal Year End (period covered by the 10-K)
- 001-32426 — SEC File Number (unique identifier for SEC filings)
- 7389 — Standard Industrial Classification (SIC) (Business Services, NEC)
Key Players & Entities
- WEX Inc. (company) — filer of 10-K
- Wright Express CORP (company) — former name of WEX Inc.
- $1,309,108 (dollar_amount) — Payment Processing Revenue for 2023
- December 31, 2023 (date) — Conformed Period of Report end date
- February 23, 2024 (date) — Filed As Of Date
FAQ
What was WEX Inc.'s Payment Processing Revenue for the fiscal year ended December 31, 2023?
WEX Inc.'s Payment Processing Revenue for the fiscal year ended December 31, 2023, was $1,309,108.
When was WEX Inc.'s 10-K filing submitted to the SEC?
WEX Inc.'s 10-K filing was submitted to the SEC on February 23, 2024.
What was the former name of WEX Inc. and when did the name change occur?
The former name of WEX Inc. was Wright Express CORP, and the name change occurred on November 18, 2004.
What is WEX Inc.'s Standard Industrial Classification (SIC) code?
WEX Inc.'s Standard Industrial Classification (SIC) code is 7389, which corresponds to Services-Business Services, NEC.
Where is WEX Inc.'s business address located?
WEX Inc.'s business address is 1 Hancock Street, Portland, ME 04101.
From the Filing
0001309108-24-000033.txt : 20240223 0001309108-24-000033.hdr.sgml : 20240223 20240223125030 ACCESSION NUMBER: 0001309108-24-000033 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 210 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240223 DATE AS OF CHANGE: 20240223 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WEX Inc. CENTRAL INDEX KEY: 0001309108 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 010526993 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32426 FILM NUMBER: 24669075 BUSINESS ADDRESS: STREET 1: 1 HANCOCK STREET CITY: PORTLAND STATE: ME ZIP: 04101 BUSINESS PHONE: (207) 773-8171 MAIL ADDRESS: STREET 1: 1 HANCOCK STREET CITY: PORTLAND STATE: ME ZIP: 04101 FORMER COMPANY: FORMER CONFORMED NAME: Wright Express CORP DATE OF NAME CHANGE: 20041118 10-K 1 wex-20231231.htm 10-K wex-20231231 0001309108 2023 FY FALSE 1 1 1 1 1 1 1 1 1 1 http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent http://www.wexinc.com/20231231#AccruedExpensesAndOtherCurrentLiabilities http://www.wexinc.com/20231231#AccruedExpensesAndOtherCurrentLiabilities http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssetsCurrent http://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssetsCurrent http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent P1Y 283 0001309108 2023-01-01 2023-12-31 0001309108 2023-06-30 iso4217:USD 0001309108 2024-02-15 xbrli:shares 0001309108 wex:PaymentProcessingRevenueMember 2023-01-01 2023-12-31 0001309108 wex:PaymentProcessingRevenueMember 2022-01-01 2022-12-31 0001309108 wex:PaymentProcessingRevenueMember 2021-01-01 2021-12-31 0001309108 wex:AccountServicingRevenueMember 2023-01-01 2023-12-31 0001309108 wex:AccountServicingRevenueMember 2022-01-01 2022-12-31 0001309108 wex:AccountServicingRevenueMember 2021-01-01 2021-12-31 0001309108 wex:FinanceFeeRevenueMember 2023-01-01 2023-12-31 0001309108 wex:FinanceFeeRevenueMember 2022-01-01 2022-12-31 0001309108 wex:FinanceFeeRevenueMember 2021-01-01 2021-12-31 0001309108 wex:OtherRevenueMember 2023-01-01 2023-12-31 0001309108 wex:OtherRevenueMember 2022-01-01 2022-12-31 0001309108 wex:OtherRevenueMember 2021-01-01 2021-12-31 0001309108 2022-01-01 2022-12-31 0001309108 2021-01-01 2021-12-31 iso4217:USD xbrli:shares 0001309108 2023-12-31 0001309108 2022-12-31 0001309108 us-gaap:CommonStockMember 2020-12-31 0001309108 us-gaap:AdditionalPaidInCapitalMember 2020-12-31 0001309108 us-gaap:RetainedEarningsMember 2020-12-31 0001309108 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-12-31 0001309108 us-gaap:TreasuryStockCommonMember 2020-12-31 0001309108 us-gaap:NoncontrollingInterestMember 2020-12-31 0001309108 2020-12-31 0001309108 us-gaap:CommonStockMember 2021-01-01 2021-12-31 0001309108 us-gaap:AdditionalPaidInCapitalMember 2021-01-01 2021-12-31 0001309108 wex:WEXEuropeServicesMember 2021-01-01 2021-12-31 0001309108 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-01-01 2021-12-31 0001309108 us-gaap:NoncontrollingInterestMember 2021-01-01 2021-12-31 0001309108 us-gaap:RetainedEarningsMember 2021-01-01 2021-12-31 0001309108 us-gaap:CommonStockMember 2021-12-31 0001309108 us-gaap:AdditionalPaidInCapitalMember 2021-12-31 0001309108 us-gaap:RetainedEarningsMember 2021-12-31 0001309108 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-12-31 0001309108 us-gaap:TreasuryStockCommonMember 2021-12-31 0001309108 us-gaap:NoncontrollingInterestMember 2021-12-31 0001309108 2021-12-31 0001309108 us-gaap:CommonStockMember 2022-01-01 2022-12-31 0001309108 us-gaap:AdditionalPaidInCapitalMember 2022-01-01 2022-12-31 0001309108 us-gaap:TreasuryStockCommonMember 2022-01-01 2022-12-31 0001309108 us-gaap:AccumulatedOtherComprehensive