WageWorks was founded in 2000 and is headquartered in San Mateo, US

CEO & Board Member

CFO

COO

Chief Compliance Officer

Senior Vice President, General Counsel & Corporate Secretary

WageWorks has offices in San Mateo, Mequon, Tempe, Irving and in 11 other locations

San Mateo, US (HQ)

1100 Park Place, 4th Floor

WageWorks's revenue was reported to be $125 m in Q1, 2017

USD

## Revenue (Q1, 2017) | 125 m |

## Gross profit (Q1, 2017) | 77.8 m |

## Gross profit margin (Q1, 2017), % | 62% |

## Net income (Q1, 2017) | 11.1 m |

## EBIT (Q1, 2017) | 15.6 m |

## Market capitalization (22-Aug-2017) | 2.3 b |

## Cash (31-Mar-2017) | 609.4 m |

WageWorks's current market capitalization is $2.3 b.

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Revenue | 219.3 m | 267.8 m | 334.3 m | 364.7 m |

## Revenue growth, % | 22% | 25% | 9% | |

## Cost of goods sold | 81.9 m | 100.2 m | 117.2 m | 130.2 m |

## Gross profit | 137.4 m | 167.6 m | 217.1 m | 234.5 m |

## Gross profit Margin, % | 63% | 63% | 65% | 64% |

## Sales and marketing expense | 34.7 m | 44.9 m | 57.5 m | |

## R&D expense | 21.5 m | 27.7 m | 45.3 m | |

## General and administrative expense | 37.6 m | 42.9 m | 63.7 m | |

## Operating expense total | 93.8 m | 115.6 m | 166.5 m | |

## EBIT | 32 m | 31 m | 39.9 m | 32.7 m |

## EBIT margin, % | 15% | 12% | 12% | 9% |

## Interest expense | 1.3 m | 1.6 m | 1.9 m | 2.2 m |

## Interest income | 17 k | 5 k | 153 k | 406 k |

## Pre tax profit | 30.9 m | 30.2 m | 38 m | 32.2 m |

## Income tax expense | 9.2 m | 11.9 m | (15 m) | (12 m) |

## Net Income | 21.7 m | 18.2 m | 23 m | 20.2 m |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 82.8 m | 83.2 m | 87 m | 87.7 m | 88.9 m | 125 m | |||

## Cost of goods sold | 29.8 m | 26.4 m | 31.3 m | 28.4 m | 30.6 m | 47.2 m | |||

## Gross profit | 53 m | 56.8 m | 55.7 m | 59.3 m | 58.4 m | 77.8 m | |||

## Gross profit Margin, % | 64% | 68% | 64% | 68% | 66% | 62% | |||

## Sales and marketing expense | 12.5 m | 12.8 m | 13.9 m | 14.4 m | 14 m | 16.1 m | |||

## R&D expense | 11.8 m | 11.6 m | 9.8 m | 11.2 m | 11.7 m | 15.3 m | |||

## General and administrative expense | 13.1 m | 12.9 m | 14.6 m | 17.1 m | 16.1 m | 20.6 m | |||

## Operating expense total | 37.4 m | 37.3 m | 38.4 m | 42.7 m | 41.8 m | 52 m | |||

## EBIT | 6.8 m | 12.7 m | 9.9 m | 4.6 m | 9.4 m | 15.6 m | |||

## EBIT margin, % | 8% | 15% | 11% | 5% | 11% | 12% | |||

## Interest expense | 609 k | 339 k | 405 k | 409 k | 465 k | 1.4 m | |||

## Interest income | 17 k | 66 k | 86 k | 97 k | 117 k | 67 k | |||

## Pre tax profit | 6.4 m | 12.4 m | 9.6 m | 4.3 m | 9.1 m | 14.1 m | |||

## Income tax expense | (2.9 m) | (4.8 m) | (3.8 m) | (1.5 m) | (3.2 m) | (3 m) | |||

## Net Income | 11 m | 15.1 m | 5.6 m | 9.2 m | 16.8 m | 5.8 m | 8.6 m | 14.5 m | 11.1 m |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Cash | 360 m | 413.3 m | 500.9 m | 678.3 m |

## Accounts Receivable | 32.9 m | 54.5 m | 72.3 m | 92.9 m |

## Inventories | 10.1 m | 14.2 m | 13.3 m | 19.4 m |

## Current Assets | 405.3 m | 493.3 m | 586.8 m | 790.9 m |

## PP&E | 26.5 m | 39.1 m | 48 m | 56.9 m |

## Goodwill | 97.6 m | 157.1 m | 157.1 m | 297.4 m |

## Total Assets | 599.7 m | 794.7 m | 888.7 m | 1.3 b |

## Accounts Payable | 49.4 m | 54.3 m | 60.5 m | 73 m |

## Total Debt | 248.8 m | |||

## Current Liabilities | 336.4 m | 431.8 m | 465 m | 677.3 m |

## Total Liabilities | 935.3 m | |||

## Additional Paid-in Capital | 270.5 m | 303.6 m | 343.2 m | 403.5 m |

## Retained Earnings | (42.4 m) | (24.2 m) | (1.2 m) | 19 m |

## Total Equity | 228.1 m | 279.4 m | 337 m | 408.1 m |

## Debt to Equity Ratio | 0.6 x | |||

## Debt to Assets Ratio | 0.2 x | |||

## Financial Leverage | 2.6 x | 2.8 x | 2.6 x | 3.3 x |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 370.9 m | 386.4 m | 451.8 m | 496.4 m | 478 m | 562.4 m | 569 m | 666.6 m | 609.4 m |

## Accounts Receivable | 38.9 m | 44.5 m | 62.6 m | 57 m | 62.1 m | 89.6 m | 94 m | 85.1 m | 135.5 m |

## Current Assets | 423.1 m | 449.9 m | 543.1 m | 580.5 m | 561.6 m | 666.9 m | 681.5 m | 773.4 m | 761.9 m |

## PP&E | 27.7 m | 33.8 m | 41.5 m | 42.3 m | 49.5 m | 47.3 m | 48.4 m | 55.5 m | 57.3 m |

## Goodwill | 97.6 m | 157.1 m | 157.1 m | 157.1 m | 157.1 m | 157.1 m | 157.1 m | 157.1 m | 297.4 m |

## Total Assets | 616.5 m | 758.3 m | 842.8 m | 875.1 m | 859 m | 976.7 m | 992 m | 1.1 b | 1.3 b |

## Accounts Payable | 43.2 m | 52.4 m | 49.5 m | 64 m | 62 m | 72.1 m | 71.4 m | 69.2 m | 95.6 m |

## Current Liabilities | 327.1 m | 410 m | 464.6 m | 486.3 m | 454.1 m | 547.6 m | 541.1 m | 618.9 m | 620.8 m |

## Additional Paid-in Capital | 287.5 m | 294 m | 313.8 m | 320.6 m | 329.1 m | 352.6 m | 368.5 m | 380.7 m | 411.7 m |

## Retained Earnings | (31.4 m) | (27.3 m) | (18.5 m) | (15 m) | (7.4 m) | 4.6 m | 7.4 m | 13.3 m | 30.3 m |

## Total Equity | 256.1 m | 266.8 m | 295.3 m | 305.6 m | 321.7 m | 342.9 m | 361.6 m | 379.7 m | 427.7 m |

## Financial Leverage | 2.4 x | 2.8 x | 2.9 x | 2.9 x | 2.7 x | 2.8 x | 2.7 x | 2.9 x | 3.1 x |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | 21.7 m | 18.2 m | 23 m | 20.2 m |

## Depreciation and Amortization | 3.4 m | 4.4 m | 6.7 m | 8.5 m |

## Accounts Receivable | (8.5 m) | (21 m) | (18 m) | (22.1 m) |

## Inventories | (4 m) | (2.7 m) | 961 k | 11.8 m |

## Accounts Payable | 7.8 m | 2.7 m | 5.1 m | 3.7 m |

## Cash From Operating Activities | 61.7 m | 54.4 m | 114.3 m | 265 m |

## Purchases of PP&E | (13.8 m) | (21.2 m) | (28.1 m) | (28.3 m) |

## Cash From Investing Activities | (27.6 m) | (65.5 m) | (38 m) | (283.4 m) |

## Long-term Borrowings | (15 m) | (15 m) | (15 m) | |

## Cash From Financing Activities | 20 m | 64.5 m | 11.3 m | 195.8 m |

## Interest Paid | 1.5 m | 866 k | 2.5 m | 1.8 m |

## Income Taxes Paid | 714 k | 836 k | 455 k | 5.5 m |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | 11 m | 15.1 m | 5.6 m | 9.2 m | 16.8 m | 5.8 m | 8.6 m | 14.5 m | 11.1 m |

## Depreciation and Amortization | 1.6 m | 2.9 m | 1.6 m | 3.2 m | 4.8 m | 1.8 m | 3.8 m | 6.2 m | |

## Accounts Receivable | (5.8 m) | (10.9 m) | (8.2 m) | (2.8 m) | (7.9 m) | (18.1 m) | (22.7 m) | (14.1 m) | 135.5 m |

## Accounts Payable | (7.3 m) | 480 k | (5.8 m) | 8.6 m | 7 m | (205 k) | (1.8 m) | 81 k | 95.6 m |

## Cash From Operating Activities | 9.7 m | 23 m | 38 m | 88 m | 89.8 m | 73.5 m | 86.6 m | 195.8 m | |

## Purchases of PP&E | (7.1 m) | (11.6 m) | (6 m) | (11.3 m) | (24.2 m) | (3.3 m) | (10.4 m) | (20.5 m) | |

## Cash From Investing Activities | (7.1 m) | (55.9 m) | (6 m) | (11.3 m) | (33.6 m) | (11 m) | (24.7 m) | (41.3 m) | |

## Cash From Financing Activities | 8.3 m | 59.4 m | 6.5 m | 6.4 m | 8.5 m | (1 m) | 6.1 m | 11.2 m | |

## Interest Paid | 444 k | 866 k | 1.1 m | 1.7 m | 2.1 m | 358 k | 740 k | 1.1 m | |

## Income Taxes Paid | 82 k | 696 k | 317 k | 327 k | 822 k | 1.6 m | 3.6 m | 5.2 m |

USD | Y, 2017 |
---|---|

## Revenue/Employee | 64.1 k |

## Financial Leverage | 3.1 x |

December 13, 2016

Uber and consumer benefits platform WageWorks have revealed a U.S.-wide expansion to a program that lets ride-sharing commuters pay using pretax dollars. For the uninitiated, WageWorks administers voluntary employee benefit programs on behalf of nearly 60,000 employers in the U.S. One of these progr…

August 30, 2016

Uber has revealed that its UberPool ride-sharing service can now be paid for using pretax dollars, thanks to a tie-up with consumer benefit platform WageWorks. Founded in 2000, WageWorks administers voluntary employee benefit programs on behalf of employers across health and travel sectors. One of t…