WageWorks provides consumer-directed benefits for pre-tax commuter and health accounts, which empower employees to save money on taxes while also providing corporate tax advantages for employers. The Company is solely dedicated to administering CDBs, including pre-tax spending accounts, such as health and dependent care Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA and other employee benefits.

Type
Public
HQ
San Mateo, US
Founded
2000
Size (employees)
1,951 (est)
WageWorks was founded in 2000 and is headquartered in San Mateo, US
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Key People/Management at WageWorks

Edgar Montes

Edgar Montes

President and Chief Executive Officer
Jim Lynch

Jim Lynch

Chief Sales Officer
Tom Catchings

Tom Catchings

SVP and Chief Information Officer
Jody Dietel

Jody Dietel

Chief Compliance Officer
May ONeal

May ONeal

Senior Vice President, Human Resources
Michael Wilson

Michael Wilson

Senior Vice President, Corporate Development

WageWorks Office Locations

WageWorks has offices in Troy, Centennial, Leawood, East Providence and in 12 other locations
San Mateo, US (HQ)
1100 Park Place, 4th Floor
Irving, US
4609 Regent Blvd
Mequon, US
10375 N Baldev Ct
Tempe, US
1850 W Rio Salado Pkwy #100,
Troy, US
100 2250 Butterfield Rd
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WageWorks Financials and Metrics

WageWorks Financials

WageWorks's revenue was reported to be $364.71 m in FY, 2016 which is a 9.1% increase from the previous period.
USD

Revenue (Q2, 2017)

119.9 m

Gross profit (Q2, 2017)

76.5 m

Gross profit margin (Q2, 2017), %

63.8%

Net income (Q2, 2017)

19.1 m

EBIT (Q2, 2017)

13.9 m

Market capitalization (25-May-2018)

1.8 b

Closing share price (25-May-2018)

45.1

Cash (30-Jun-2017)

774.8 m

EV

1.3 b
WageWorks's current market capitalization is $1.8 b.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

219.3 m267.8 m334.3 m364.7 m

Revenue growth, %

22%25%9%

Cost of goods sold

81.9 m100.2 m117.2 m130.2 m

Gross profit

137.4 m167.6 m217.1 m234.5 m
Quarterly
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Revenue

82.8 m83.2 m87 m87.7 m88.9 m125 m119.9 m

Cost of goods sold

29.8 m26.4 m31.3 m28.4 m30.6 m47.2 m43.4 m

Gross profit

53 m56.8 m55.7 m59.3 m58.4 m77.8 m76.5 m

Gross profit Margin, %

64%68%64%68%66%62%64%
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

360 m413.3 m500.9 m678.3 m

Accounts Receivable

32.9 m54.5 m72.3 m92.9 m

Inventories

10.1 m14.2 m13.3 m19.4 m

Current Assets

405.3 m493.3 m586.8 m790.9 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Cash

309.1 m353.3 m370.9 m386.4 m451.8 m496.4 m478 m562.4 m569 m666.6 m609.4 m774.8 m

Accounts Receivable

30.7 m51.3 m38.9 m44.5 m62.6 m57 m62.1 m89.6 m94 m85.1 m135.5 m119.1 m

Current Assets

349.8 m416.8 m423.1 m449.9 m543.1 m580.5 m561.6 m666.9 m681.5 m773.4 m761.9 m928.5 m

PP&E

26.5 m26.9 m27.7 m33.8 m41.5 m42.3 m49.5 m47.3 m48.4 m55.5 m57.3 m63.4 m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

21.7 m18.2 m23 m20.2 m

Depreciation and Amortization

3.4 m4.4 m6.7 m8.5 m

Inventories

(4 m)(2.7 m)961 k11.8 m

Accounts Payable

7.8 m2.7 m5.1 m3.7 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

16.4 m6.4 m11 m15.1 m5.6 m9.2 m16.8 m5.8 m8.6 m14.5 m11.1 m

Depreciation and Amortization

2.6 m777 k1.6 m2.9 m1.6 m3.2 m4.8 m1.8 m3.8 m6.2 m

Accounts Payable

4.3 m(8.7 m)(7.3 m)480 k(5.8 m)8.6 m7 m(205 k)(1.8 m)81 k95.6 m

Cash From Operating Activities

15.6 m(10.8 m)9.7 m23 m38 m88 m89.8 m73.5 m86.6 m195.8 m
USDY, 2017

EV/EBIT

90.5 x

Financial Leverage

2.5 x
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WageWorks Operating Metrics

WageWorks's Enterprise Customers was reported to be 100 k in FY, 2016.
FY, 2014FY, 2015FY, 2016

Enterprise Customers

45 k58 k100 k

Hired Individuals (HR services)

4 m4.50 m6.50 m
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WageWorks News and Updates

Two top execs are out at WageWorks following findings that the company reported inflated revenue and profit numbers (WAGE)

Top executives are out at WageWorks, an employee benefits company, following an audit of the company's financials. CEO Joe Jackson will step down and take on the role of executive chairman. He's replaced as CEO by the current COO Edgar Montes. WageWork's CFO and corporate counsel have both resigne…
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