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- **Revenue Growth**: Q3 $691.8M (+3.9% YoY), driven by Mobility (50%), Benefits (30%), and Corporate Payments (20%).
- **EPS Beat**: Non-GAAP EPS $4.59 (+5.5% YoY), outpacing fuel/forex headwinds.
- **Strategic Wins**: 12% new small business customers, 20%+ Direct AP volume growth, 100+ AI use cases.
- **2026 Outlook**: 5-10% revenue growth target, 10+ EPS growth, $19M invested in growth initiatives.

**【CEO Summary Section】**
- Q3 revenue of $691.8 million (+3.9% YoY) driven by Mobility (50%), Benefits (30%), and Corporate Payments (20%).
- Mobility: 12% YoY new small business customers, 104xWEX app savings $300/month, and BP partnership on track.
- Benefits: 6% SaaS account growth, 14.9% custodial investment revenue increase.
- Corporate Payments: 4.7% growth from Direct AP (20%+ volume growth) and embedded payments expansion.

**【CFO Financial Commentary】**
- GAAP net income $420M, Non-GAAP EPS $4.59 (+5.5% YoY), outpacing fuel/forex headwinds.
- Operating margin impacted by +$19M sales/marketing investments.
- Interest rate sensitivity: 100bp change affects revenue ±$40M, EPS ±$0.30-$0.35.

**【Q&A Highlights】**
- Mobility: 1.4% YoY same-store sales decline, but 12% new small business growth.
- Corporate Payments: 20%+ Direct AP volume growth, lapping OTA transition.
- AI: 100+ AI use cases across fraud, claims, and customer service.
- 2026 Outlook: 5-10% long-term revenue growth, 10+ EPS growth target.

WEX Inc.(WEX)-20251030-2025 Q3 Earnings call transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

WEX

WEX fundamentals

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