Wex (WEX) Operating Expenses (2009 - 2026)
Wex (WEX) posted Operating Expenses of $140.8 million for Q2 2026, up 17.4% from $119.9 million a year earlier and up 15.3% from the prior quarter.
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Analysis
Wex (WEX) Operating Expenses (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at Wex was $506.2 million, up 4.0% year-over-year; for FY2025, it came in at $469.4 million, down 5.2% from FY2024.
- Annual Operating Expenses shows a five-year compound annual growth rate of 4.2% (FY2020 to FY2025).
- In prior years, Wex's Operating Expenses was $495.3 million in FY2024 (-4.8%), $520.2 million in FY2023 (+19.0%), $437.3 million in FY2022 (+4.7%) and $417.8 million in FY2021 (+9.1%).
- The Q2 2026 figure stands as the highest quarterly Operating Expenses since Q4 2017.
- On a year-over-year basis, Operating Expenses increased in four of the last eight quarters, with growth averaging 3.6%.
- The strongest year-over-year quarter for Operating Expenses in the past five years was Q3 2023, with growth of 34.8%; the weakest was Q4 2021, with a decline of 14.0%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $122.1 million (Q1 2026), $116.5 million (Q4 2025) and $126.8 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 50.59 Bn | 7.40 Bn | - | 1.33 Bn |
| 2 | PayPal Holdings | 46.79 Bn | 5.01 Bn | - | 7.26 Bn |
| 3 | Block | 44.05 Bn | 15.31 Bn | 3.17 Bn | 2.72 Bn |
| 4 | Iren | 31.74 Bn | 19.34 Bn | 103.89 Mn | 128.25 Mn |
| 5 | Corpay | 26.01 Bn | 16.21 Bn | - | 260.40 Mn |
| 6 | Fiserv | 24.47 Bn | 21.17 Bn | 2.90 Bn | 4.28 Bn |
| 7 | Global Payments | 22.51 Bn | 952.73 Mn | 2.03 Bn | 2.98 Bn |
| 8 | Bitmine Immersion Technologies | 15.56 Bn | 12.94 Bn | 40.81 Mn | 52.67 Mn |
| 9 | Guidewire Software | 11.90 Bn | 8.47 Bn | 269.68 Mn | 207.36 Mn |
| 10 | Wex | 6.07 Bn | -15.62 Bn | 463.80 Mn | 140.80 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 140.80 Mn |
| Mar 31, 2026 | 122.10 Mn |
| Dec 31, 2025 | 116.50 Mn |
| Sep 30, 2025 | 126.80 Mn |
| Jun 30, 2025 | 119.90 Mn |
| Mar 31, 2025 | 106.40 Mn |
| Dec 31, 2024 | 130.60 Mn |
| Sep 30, 2024 | 129.90 Mn |
| Jun 30, 2024 | 128.70 Mn |
| Mar 31, 2024 | 114.30 Mn |
| Dec 31, 2023 | 116.30 Mn |
| Sep 30, 2023 | 116.60 Mn |
| Jun 30, 2023 | 106.20 Mn |
| Mar 31, 2023 | 88.90 Mn |
| Dec 31, 2022 | 95.20 Mn |
| Sep 30, 2022 | 86.50 Mn |
| Jun 30, 2022 | 83.50 Mn |
| Mar 31, 2022 | 78.70 Mn |
| Dec 31, 2021 | 81.44 Mn |
| Sep 30, 2021 | 79.49 Mn |
API Access
Wex Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=WEX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "WEX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=WEX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();