WEX Inc.

WEX Expands AI-Powered Claims Tool Beyond FSAs Following 600,000 Automated Approvals in First Year

WEX expanded its AI-powered claims tool beyond Health FSAs to support Simple HRAs and Limited Purpose Health FSAs, timed ahead of Open Enrollment. The technology approved more than 600,000 Health FSA claims in its first year, processing eligible claims with 95% accuracy in under two minutes instead of days. WEX says it serves roughly 60% of the Fortune 1000 and powers over 20% of all HSAs nationwide; the company plans further expansion across additional plan types through 2026.

•25d ago

Western Exploration Completes Transformative Cyanide Leach Test Work at Gravel Creek

Western Exploration reported cyanide leach recoveries of 73.3% gold and 74.0% silver from Gravel Creek gravity/flotation concentrate, the first evidence the deposit is not entirely refractory and can support on-site processing after fine grinding. In the test work at McClelland Laboratories, flotation recovered 97.2% of gold and 96.8% of silver into a concentrate weighing roughly 20% of the feed; after ultra-fine regrinding, 75.4% of concentrate gold and 76.5% of silver leached over 72 hours. Separately, the company is fully permitted and bonded for 46 drill sites targeting extensions of Gravel Creek and Jarbidge with a goal of doubling the Gravel Creek resource, supported by a July 9 water lease with Nevada Gold Mines for up to 14 acre-feet of water per year.

•1mo ago

Driivz Partners with WEX® to Provide a Seamless Payment Experience for Electric Fleet Operators and Drivers

WEX partnered with Driivz, a Vontier company, to integrate its payment solutions into the Driivz EV charging management platform. The OCPI-certified integration allows fleet drivers using the WEX DriverDash app or RFID card to charge at Driivz-managed stations globally, streamlining billing. This collaboration aims to support fleet electrification goals, with the first integration already completed at a hub in California.

•2mo ago

Causal Earns Three Coveted B2B Elevation Awards for Multichannel Marketing Campaigns with WEX®

Marketing agency Causal won three B2B Marketing Elevation Awards for its multichannel campaign work with WEX, including Gold for Best Growth Marketing Program. The campaign utilized audience intelligence and coordinated activation across digital channels to help WEX achieve a 60% long-term effectiveness threshold for the first time in 2025. WEX leadership noted that the partnership helped scale the brand efficiently through precise behavioral insights and a bold strategy.

•2mo ago

Western Exploration Submits Mine Plan of Operations for the Doby George Project

Western Exploration submitted its Mine Plan of Operations to the U.S. Forest Service for the 100%-owned Doby George gold project, formally initiating the federal permitting and environmental review process. The MPO outlines a 7,500 tonne-per-day open-pit heap-leach operation with a total disturbance footprint of 697 acres, consistent with the company's 2025 Preliminary Economic Assessment. Baseline environmental studies are ongoing alongside a drill program, and a grid power feasibility study is expected in the fourth quarter of 2026 to support a planned pre-feasibility study.

•2mo ago

WEX® Introduces SecureFuel®, AI-Powered Fraud Prevention for Commercial Fleets

WEX announced the general availability of SecureFuel, an AI-powered solution that integrates fleet card transaction data with real-time vehicle telematics to prevent unauthorized fuel purchases before approval. The new capability targets a market need where fraud can account for up to 12% of fuel spend, utilizing WEX's scale of 30 million monthly transactions and 95% US fuel station coverage. SecureFuel begins rolling out to eligible customers on August 3 and integrates with existing Geotab solutions or WEX-supplied telematics, alongside a beta preview of the new Actionable Insights feature.

•2mo ago

Western Exploration Initiates Drill Program at Doby George

Western Exploration has begun site preparation for a drill program at its 100%-owned Doby George gold project, targeting up to 3,000 meters across 15 holes. The drilling aims to convert inferred resources to indicated and gather hydrogeological data to support the Pre-Feasibility Study and permitting process. Following a multi-agency site visit led by the U.S. Forest Service, the company expects to submit its Mine Plan of Operations by early August.

•2mo ago

WEX: 10-Q · periodic report

WEX Inc. reported strong financial results for the six months ended June 30, 2026, with total revenues increasing 10% year-over-year to $1.43 billion and net income rising 33% to $186.2 million. The growth was driven primarily by the Mobility segment, where higher average U.S. fuel prices boosted payment processing revenue, and the Benefits segment, which benefited from increased average HSA deposit balances. During the second quarter, the company finalized the acquisition of the BP Products North America Inc. Co-branded Commercial Fleet Card program portfolio, making a final payment of $23.0 million for the associated receivable balances. This acquisition complements WEX's existing payment solutions and expands its fleet offerings. The company maintained a solid balance sheet with $1.16 billion in cash and equivalents and repurchased $60.0 million of its common stock during the quarter. However, the provision for credit losses increased significantly to $62.3 million for the six-month period, driven by higher accounts receivable balances resulting from increased spend.

SEC 10-Q•3mo ago

WEX Inc. Reports Second Quarter 2026 Financial Results

WEX reported Q2 revenue of $753.5 million, up 14.2% year-over-year, with GAAP EPS of $3.11 and adjusted EPS of $5.35. Adjusted operating income margin expanded to 39.6%, while adjusted free cash flow increased to $219.0 million. The company raised full-year 2026 revenue guidance to $2.86 billion to $2.90 billion and adjusted EPS guidance to $19.68 to $20.08 per share, up from prior ranges. WEX repurchased approximately $93 million of shares from May through July 20 and indicated it will direct the vast majority of adjusted free cash flow to share repurchases going forward.

•3mo ago

TFS Financial Launches "Equipment Financing Powered by TFS" Program for WEX Customers

TFS Financial launched the 'Equipment Financing Powered by TFS' program, providing WEX customers with access to equipment financing through TFS's platform. The partnership utilizes TFS's Multi-Lender Platform and MatchEngine Technology to connect WEX's transportation fleet customers with optimal financing providers. This expansion enhances WEX's service offerings for trucking and transportation fleets, giving customers a streamlined path to equipment financing alongside WEX's existing fuel management and payment solutions.

•4mo ago

WEX Announces $1 Billion Share Repurchase Program

WEX announced a new $1 billion share repurchase program authorized by its Board of Directors. The authorization includes any transaction expenses and excise taxes, reflecting the company's commitment to returning capital to shareholders. CEO Melissa Smith cited the company's strong free cash flow and financial capacity as drivers for the move, noting the program has no expiration date.

•5mo ago

Western Exploration Provides Doby George Development Update

Western Exploration secured a drilling contract for its 2026 program at the 100%-owned Doby George gold project to support infill, geotechnical, and hydrological work. The company has initiated a site-specific hydrology study and baseline biology studies to support the Mine Plan of Operations submission to the U.S. Forest Service. Discussions with a regional power provider are underway regarding a grid connection, with a formal feasibility study expected to commence in Q3 2026.

•5mo ago

WEX® Taps Extend to Enable Corporate Card Payments in SAP Concur Solutions

WEX partnered with Extend to enable virtual card payments directly within SAP Concur Invoice for its corporate card customers. The integration allows users to automatically generate single-use virtual cards for vendor payments, aiming to improve security, control, and cash flow. Executives emphasized that the partnership enhances the accounts payable workflow without disrupting existing operations.

•5mo ago

WEX Issues Letter to Shareholders Highlighting Strong Performance, Accelerating Momentum and Improved 2026 Outlook

WEX increased its 2026 outlook after delivering Q1 results where revenue and adjusted EPS exceeded the high end of guidance, driven by growth across all business segments. The company reported record 2025 revenue, net income per share, and adjusted net income per share, with 2025 Adjusted EBITDA reaching $1,259.4M and Adjusted EPS of $16.10. In a letter to shareholders, the Board urged support for its nominees over Impactive Capital’s slate, citing a nearly 50% stock price increase over the last year and the risk of disrupting momentum.

•6mo ago