In Benefits, primarily, the conversation is around still employee retention and how we're making sure we're offering benefits within the marketplace that are attractive and continue to evolve in the way that the marketplace expects. Or do you need to invest at an elevated rate and/or go out and buy technology to really ramp up that direct -- I'm thinking about the AP automation and remittance piece specifically? Working At WEX: Employee Reviews And Culture - Zippia 88 were here. Powered by the belief that complex payment systems can be made simple, WEX (NYSE: WEX) is a leading financial technology service provider across a wide spectrum of sectors, including fleet, corporate payments, and healthcare. As part of this initiative, we've been looking closely at a number of areas of our company using improved processes, data and technology. When we plan the year, we look at what do we have for existing customers to the kind of the run rate of revenue that come into the year. But we feel like we have a good foundation that we continue to build upon. WEX Inc. Reports First Quarter 2023 Financial Results We have pipelines that are continuing to fill and feel good about the close rates we have this year, which will more largely impact revenue next year. Incorporated, Research Division, Mihir Bhatia; VP in Equity Research & Research Analyst; BofA Securities, Research Division, Nikolai Chrin Cremo; Research Analyst; Crdit Suisse AG, Research Division, Ramsey Clark El-Assal; Research Analyst; Barclays Bank PLC, Research Division, Robert Paul Napoli; Partner and Co-Group Head of Financial Services & Technology; William Blair & Company L.L.C., Research Division, Sanjay Harkishin Sakhrani; MD; Keefe, Bruyette, & Woods, Inc., Research Division, Tien-Tsin Huang; Senior Analyst; JPMorgan Chase & Co, Research Division. And then just on your B2B payments business, I mean, as you had called out, I know with Flume and any progress what you're seeing with the SMB customers. Where do I log in to my online account? This furthers our goal of putting tools in the hands of drivers that simplify the process of determining where, when and how to charge. We've continued our long track record of delivering exceptional financial results and performing well across dynamic macroeconomic environment. Wex Bank Company Overview. It was maybe 70%, 80% or whatever it looked like. Simplifying benefits for everyone. Our focus on cross-sell continues to gain traction with more than 60 signed contracts during Q1. WEX Inc. (WEX) Q1 2023 Earnings Call Transcript Revenue from travel-related customers was up 87% versus Q1 2022. (Say goodbye to paper implementations. Working at WEX Inc.: 211 Employee Reviews | Indeed.com Registration for the webcast of the event will be available on the Investor Relations section of our website in the coming weeks. I would also like to remind you that we will discuss forward-looking statements under the Private Securities Litigation Reform Act of 1995. Payment processing & information management service company, Ocean Gateway International Marine Passenger Terminal, "Why Wright Express Changed Its Name to WEX", "Wright Express Corporation Announces Pricing of Initial Public Offering", "WEX Opens Global Headquarters In Portland", "Roux Institute partners with WEX on a new facility in Portland", "WEX Partnering with Gas Buddy on Fuel Data Pact", "BRIEF-Wex and OnDeck announce strategic partnership", "WEX launches ClearView Advanced platform for fuel savings", "Jim Pratt: How WEX Ignited B2B Travel Payments", "SnapShot marketplace, TravelClick gets chatty, and more", "Eureka Innovation Award Winner Wex Health", "#WorkTrends Recap: Building Successful Business Partnerships", "Travelport Agrees to Sell Enett to Wex at a Bargain Price", https://en.wikipedia.org/w/index.php?title=WEX_Inc.&oldid=1129342157, Companies listed on the New York Stock Exchange, Companies based in Cumberland County, Maine, Short description is different from Wikidata, Wikipedia indefinitely semi-protected pages, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 24 December 2022, at 20:47. For the full year, we expect to report revenue in the range of $2.45 billion to $2.49 billion. File a claim, view account balance and summary information, sign up for FREE direct deposit, get email notifications, and more! 9 Best Gas Credit Cards for US Fleets in 2023 Reviewed - Expert Market US Yes. We look at scale plays, so the assets that are larger in size, which are more just financially accretive, less about the product. Yes. Your next question comes from the line of Darrin Peller with Wolfe Research. And then what do we need to go get in the course of the year? And so we continue to look at assets, move assets through our pipeline, sort of the same rigor that we have historically. Thanks, Tien-Tsin, for the question. Will you be communicating these changes to participants? WexBocaLink.setUrl("locations-flyout", "WEXFleetUniversal", "cc1"); Save money and manage fleet operations with our modern business mobility solutions, including a broad array of fuel cards for any size fleet. On an organic basis, which excludes the impact of fluctuations in fuel prices and foreign exchange rates, revenue in the quarter grew 19% compared to the prior year's period, once again beating our long-term organic growth target of 8% to 12%. The rating our clients gave our single-source employee benefits and COBRA administration hub. You can continue to contact our Client Services team at 877-765-8810 Mondays through Fridays from 7 a.m. to 7 p.m. Central time, by emailing employerservices@wexhealth.com or by submitting a case anytime from your LEAP account. WEX Q1 Earnings and Revenues Beat Estimates, Increase Y/Y Great job at ensuring payments are made in a timely fashion with recurring payments! Thank you, Steve, and good morning, everyone. Total net revenue for the first quarter of 2023 increased 18% to $612.0 million from $517.5 million for the first quarter of 2022. And she's doing some amazing work with our technology and commercial teams and really looking at how we can, from an end-to-end perspective, look at that customer experience and even greater digitize that experience, which has a super benefit. We have hundreds of customers that are using the product. We started off the year with a solid first quarter, achieving strong top line growth while delivering with the dependable execution that our employees, partners, customers and shareholders have come to expect.
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