v3.25.2

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Revenues
Total revenues	$ 659.6	$ 673.5	$ 1,296.1	$ 1,326.1
Cost of services
Processing costs	161.4	163.8	328.8	332.9
Service fees	23.3	20.8	48.9	41.8
Provision for credit losses	21.5	20.6	37.4	43.0
Operating interest	28.7	25.7	52.8	49.2
Depreciation and amortization	37.9	32.8	74.7	64.0
Total cost of services	272.7	263.8	542.6	530.9
General and administrative	86.3	101.0	160.0	189.5
Sales and marketing	97.7	93.7	188.6	179.0
Depreciation and amortization	46.0	46.9	90.8	94.0
Operating income	156.8	168.1	314.0	332.6
Financing interest expense, net of financial instruments	(65.0)	(59.9)	(118.0)	(120.2)
Change in fair value of contingent consideration	(0.8)	(1.7)	(1.6)	(3.4)
Net foreign currency gain (loss)	2.4	(0.4)	(0.7)	(13.0)
Income before income taxes	93.4	106.1	193.7	196.1
Income tax expense	25.2	29.1	54.1	53.4
Net income	$ 68.1	$ 77.0	$ 139.6	$ 142.7
Net income per share:
Basic (in dollars per share)	$ 1.98	$ 1.85	$ 3.81	$ 3.42
Diluted (in dollars per share)	$ 1.98	$ 1.83	$ 3.78	$ 3.38
Weighted average common shares outstanding:
Basic (in shares)	34.3	41.7	36.6	41.8
Diluted (in shares)	34.4	42.0	36.9	42.2
Payment processing revenue
Revenues
Total revenues	$ 285.2	$ 318.4	$ 557.1	$ 620.4
Account servicing revenue
Revenues
Total revenues	177.9	168.6	357.0	341.9
Finance fee revenue
Revenues
Total revenues	80.4	77.8	156.1	148.1
Other revenue
Revenues
Total revenues	$ 116.1	$ 108.7	$ 226.0	$ 215.8

Amount of increase (decrease) in value of liability in contingent consideration arrangement in business combination, including, but not limited to, difference arising upon settlement.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

WEX Inc. 10-Q