. The Fleet Solutions segment offers fleet vehicle payment and transaction processing services. Continue to log into LEAP like you do today using your existing username, password and passcode to access either your benefits administration or COBRA administration. It can be easy to get caught up in a routine or a silo at WEX, but NexGen has given me the opportunity to connect with people in other functional areas that I otherwise would have never met.. 9 Best Gas Credit Cards for US Fleets in 2023 Reviewed - Expert Market US WEX Health, Inc. - Health Plan Alliance Your next question comes from the line of Ramsey El-Assal with Barclays. First Republic in limbo as US regulators juggle bank's fate, Sony shares tumble on weaker-than-expected annual outlook, 'Waste of time': Community college transfers derail students, Asia Stocks Rise, Treasuries Dip in Cautious Trade: Markets Wrap, Poll: Americans fault news media for dividing country. I talked about the fact that we've had 40 signings in the quarter. 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. Revenue growth of 18% and adjusted earnings per share growth of 15% this quarter represents the eighth consecutive quarter these metrics each grew 15% or more. And that product itself, highly tech-enabled, really important that has strong uptime. I will turn the call to Steve Elder. And we saw a negative 2% same-store sales within the over-the-road business. This is thanks, in part, to contractual limitations to early withdrawals, and it's also evidence that the market for these funding vehicles continues to remain strong. And we've started ramping salespeople. Fitness Subsidies. Now let's turn to the financial results. So we should see these kind of interchange levels as we flow through the year. We have mailed a notice of assignment regarding our brand and legal entity name to the physical address we have on file for your company. As a reminder, we will be discussing non-GAAP metrics, specifically: adjusted net income attributable to shareholders, which we refer to as adjusted net income, or ANI; and adjusted operating income and related margin; and adjusted free cash flow during our call. Yes. Advances WEXs employee benefits platform with the addition of one of the fastest-growing solutions providers in the marketplace Complements WEXs technology platform with leading benefits account technology Jan. 17, 2019- WEX (NYSE:WEX), a leading financial technology service provider, today announced the signing of an agreement to acquire Discovery Benefits, Inc. (DBI), a high-growth employee . We have $776 million of available borrowing capacity and corporate cash of $149 million as defined under the company's credit agreement at quarter end. . WEX "benefit" Reviews | Glassdoor Our card works at a variety of merchants. So there's a couple of things that are happening within that segment. And we think of that with multiple levers. Most Common Benefits for Wex Bank. Is that where you see the largest future growth opportunity? [We lose] less customers coming through but also at a lower cost. Employee Resource Groups are great because it gives everyone a voice regardless of origin and background. A piece of that is also coming from this anticipation that we'll continue to benefit from the custodial deposits that we have. WEX Company Profile - Office Locations, Competitors, Revenue - Craft . But they -- it cumulatively become quite meaningful for 2024. And so an area that we will continue to invest and evolve. WEX Benefits | LinkedIn Before jumping into our performance for the quarter, I'd like to quickly address the recent disruption in the banking industry. Our passion for continuous innovation and our unparalleled level of service were further fueled when Discovery Benefits who we partnered with for more than 15 years joined WEX in 2019. And we keep that in mind as we're working through all of this. Let me add a couple of comments there. WEX (NYSE: WEX) is a leading financial technology service provider. We are positioned to create a community that sustains and supports us as individuals and leaders, while also helping us to drive positive impact to our business. You should not place undue reliance on these forward-looking statements, all of which speak only as of today. Discovery Benefits, A WEX Company Business Data. benefitexpress, a WEX Company 1700 E Golf Rd. Our objective is to create a universal network of EV charging stations similar to our fuel acceptance network. WEX to Benefit from benefitexpress Acquisition: Here's How This highlighted the ongoing transformation of our business as we discuss unifying product themes around data, payments and digitization. So again, not necessarily because we're seeing that trend within our portfolio, but consistent with what we had said in the last quarter. Included in that, we look at what do we have for contracts that have been signed but not yet implemented and what -- so what do we need to actually push through from an implementation perspective? Benefits segment purchase volume increased 18%, leading to an 18% increase in payment processing revenue. Within that segment, what we'd expect is the normal puts and takes between travel and our nontravel business. Professional Development Benefits. Remember Me Next. Spot rates went down. Okay. Yes. This represents a 15% increase over the prior year. You will notice some changes to your online account like our updated logo and colors, but the functionality and ease of use of your account that youve come to love today is here to stay. Thanks for the question. WEX Benefits Reviews & Ratings 2023 - trustradius.com This allows us to see the company through a different lens or perspective than we normally would. And I guess I'm wondering if that's sustainable. Will you be communicating these changes to participants? Powered by WEX Health. So the second half of the year, because we assume that's going to be a slow growth environment, again, as we're going from really accelerated growth rates in Q1, dropping a little in Q2 but still some really strong growth rates in Q2 and our expectation in travel, with that trailing off into more of what, I would say, kind of the traditional growth environment. You can continue to use the debit card you have today. We've continued our long track record of delivering exceptional financial results and performing well across dynamic macroeconomic environment. 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. How does it work? Just in the Benefits business, you've had a couple of really strong open enrollment seasons, and obviously, these new wins. Discovery Benefits is now a part of WEXinc and you can log into your account using the links below. Jagtar talked about the fact we've seen that stabilize within our portfolio. (Operator Instructions) I will now turn the conference over to Steve Elder. We believe these new agreements will be a win-win for WEX and our network partners given the significant relationships we have (inaudible) with the government and large fleet. WEX Benefits hiring Client Support Specialist in Schaumburg, Illinois WEX is a financial services company that is headquartered in South Portland, Maine. benefitexpress is a leader in cloud-based solutions for benefits administration. I guess, is probably the way I'd say it as opposed to -- I don't think you can feel like we're done. www.discoverybenefits.com. Employee Resource Groups are great because it gives everyone a voice regardless of origin and background. WEX Benefits Platform | West Fargo ND - Facebook WEX Health Cloud helps to administer HSAs, HRAs, FSAs, VEBAs, COBRA, defined-contribution, wellness plans, and transit plans. Obviously, travel has been strong, but moving beyond the travel side again in terms of what you're doing to really invest there to differentiate it, where we see that headed. Okay. I think some of that is continued rebound of people going back into the office, sales fleets being out and moving. We'd expect kind of normal seasonality going into Q2 and Q3 on the travel side. Okay. (Operator Instructions) Your first question comes from the line of Sanjay Sakhrani with KBW. We also continue to benefit from a rebound in travel volume globally. This administrator has more than 100 multiemployer clients, allowing for a large market reach. Prev Next I also want to mention that we are renaming our existing segments in connection with the rebranding initiatives. WEX Inc. Reports First Quarter 2023 Financial Results Total revenue came in at $612 million, an 18% increase over Q1 2022 with more than 80% of revenue for the quarter recurring in nature.