WEX Inc. Q2 2024 10-Q Filed
Ticker: WEX · Form: 10-Q · Filed: 2024-07-25T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, revenue
TL;DR
WEX Q2 10-Q is in! Revenue details for Payment Processing, Account Servicing, and Finance Fees are out, showing performance vs. last year.
AI Summary
WEX Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance across its Payment Processing, Account Servicing, and Finance Fee revenue segments for the second quarter and the first half of the year, comparing them to the same periods in 2023. Specific revenue figures for these segments are provided, indicating the company's operational and financial standing.
Why It Matters
This filing provides investors and analysts with the latest financial results for WEX Inc., crucial for understanding the company's revenue trends and overall financial health in the business services sector.
Risk Assessment
Risk Level: medium — The filing contains detailed financial data and segment revenues, which are critical for assessing the company's performance and potential risks.
Key Numbers
- 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 2024-07-25 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- WEX Inc. (company) — Filer of the 10-Q report
- 2024-06-30 (date) — End of the reporting period
- 2024-07-25 (date) — Date of filing
- Portland, ME (location) — Company's business and mailing address
FAQ
What were the Payment Processing Revenue figures for Q2 2024 and Q2 2023?
The filing provides data for wex:PaymentProcessingRevenueMember for 2024-04-01 to 2024-06-30 and 2023-04-01 to 2023-06-30, though specific dollar amounts are not detailed in this snippet.
How did Account Servicing Revenue compare between the first half of 2024 and 2023?
The filing includes data points for wex:AccountServicingRevenueMember for the periods 2024-01-01 to 2024-06-30 and 2023-01-01 to 2023-06-30, allowing for comparison.
What is the company's primary business segment based on the revenue types listed?
The listed revenue segments (Payment Processing, Account Servicing, Finance Fee) suggest WEX Inc. operates in financial technology and payment solutions.
When was WEX Inc. previously known as Wright Express Corp?
The company changed its name from Wright Express Corp on 2004-11-18.
What is the fiscal year end for WEX Inc.?
WEX Inc.'s fiscal year ends on December 31st (1231).
From the Filing
0001309108-24-000175.txt : 20240725 0001309108-24-000175.hdr.sgml : 20240725 20240725135320 ACCESSION NUMBER: 0001309108-24-000175 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 92 CONFORMED PERIOD OF REPORT: 20240630 FILED AS OF DATE: 20240725 DATE AS OF CHANGE: 20240725 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-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-32426 FILM NUMBER: 241141086 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-Q 1 wex-20240630.htm 10-Q wex-20240630 0001309108 12/31 2024 Q2 FALSE 6 6 6 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure iso4217:EUR iso4217:AUD wex:investmentPosition wex:segment 0001309108 2024-01-01 2024-06-30 0001309108 2024-07-19 0001309108 wex:PaymentProcessingRevenueMember 2024-04-01 2024-06-30 0001309108 wex:PaymentProcessingRevenueMember 2023-04-01 2023-06-30 0001309108 wex:PaymentProcessingRevenueMember 2024-01-01 2024-06-30 0001309108 wex:PaymentProcessingRevenueMember 2023-01-01 2023-06-30 0001309108 wex:AccountServicingRevenueMember 2024-04-01 2024-06-30 0001309108 wex:AccountServicingRevenueMember 2023-04-01 2023-06-30 0001309108 wex:AccountServicingRevenueMember 2024-01-01 2024-06-30 0001309108 wex:AccountServicingRevenueMember 2023-01-01 2023-06-30 0001309108 wex:FinanceFeeRevenueMember 2024-04-01 2024-06-30 0001309108 wex:FinanceFeeRevenueMember 2023-04-01 2023-06-30 0001309108 wex:FinanceFeeRevenueMember 2024-01-01 2024-06-30 0001309108 wex:FinanceFeeRevenueMember 2023-01-01 2023-06-30 0001309108 us-gaap:ProductAndServiceOtherMember 2024-04-01 2024-06-30 0001309108 us-gaap:ProductAndServiceOtherMember 2023-04-01 2023-06-30 0001309108 us-gaap:ProductAndServiceOtherMember 2024-01-01 2024-06-30 0001309108 us-gaap:ProductAndServiceOtherMember 2023-01-01 2023-06-30 0001309108 2024-04-01 2024-06-30 0001309108 2023-04-01 2023-06-30 0001309108 2023-01-01 2023-06-30 0001309108 2024-06-30 0001309108 2023-12-31 0001309108 us-gaap:CommonStockMember 2023-12-31 0001309108 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001309108 us-gaap:RetainedEarningsMember 2023-12-31 0001309108 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0001309108 us-gaap:TreasuryStockCommonMember 2023-12-31 0001309108 us-gaap:CommonStockMember 2024-01-01 2024-03-31 0001309108 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-03-31 0001309108 2024-01-01 2024-03-31 0001309108 us-gaap:TreasuryStockCommonMember 2024-01-01 2024-03-31 0001309108 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-01 2024-03-31 0001309108 us-gaap:RetainedEarningsMember 2024-01-01 2024-03-31 0001309108 us-gaap:CommonStockMember 2024-03-31 0001309108 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001309108 us-gaap:RetainedEarningsMember 2024-03-31 0001309108 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-03-31 0001309108 us-gaap:TreasuryStockCommonMember 2024-03-31 0001309108 2024-03-31 0001309108 us-gaap:AdditionalPaidInCapitalMember 2024-04-01 2024-06-30 0001309108 us-gaap:TreasuryStockCommonMember 2024-04-01 2024-06-30 0001309108 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-04-01 2024-06-30 0001309108 us-gaap:RetainedEarningsMember 2024-04-01 2024-06-30 0001309108 us-gaap:CommonStockMember 2024-06-30 0001309108 us-gaap:AdditionalPaidInCapitalMember 2024-06-30 0001309108 us-gaap:RetainedEarningsMember 2024-06-30 0001309108 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-06-30 0001309108 us-gaap:TreasuryStockCommonMember 2024-06-30 0001309108 us-gaap:CommonStockM