WAGEWORKS, INC.
DRAPER, UT

If you're looking for a career that provides plenty of growth opportunities, responsibility, and interesting challenges to tackle, work for WageWorks. If you want to join a fast-moving, high-growth, exciting company that's a market leader, work for WageWorks. But mostly, if you want to help people live happier, healthier, and more productive lives, work for WageWorks. WageWorks is a leading on-demand provider of Consumer-Directed Benefits (CDBs) in the United States. Our CDB programs enable employees and their families to save money by using pre-tax dollars to pay for their healthcare and commuter expenses. Employers financially benefit from our programs through reduced payroll taxes, even after factoring in our fees. Under our FSA, HSA, and commuter programs, employee participants contribute funds from their pre-tax income to pay for qualified out-of-pocket healthcare expenses not fully covered by insurance, such as co-pays, deductibles, and over-the-counter medical products or for commuting costs. WageWorks is a public and independent company, which enables us to scale quickly and effectively, influence legislation and provide leadership and expertise in the field of Consumer-Directed Benefits, ensuring the best of breed programs for your company and employees. We understand the cost pressures associated with administering benefits. With our experience we strive to more expertly and more cost-efficiently deliver these benefits than employers can themselves. We deliver our CDB programs through a highly scalable Software-as-a-Service, or SaaS, delivery model that employer clients and their employee participants may access through a standard web browser on any internet enabled device, including computers, smart phones, and other mobile devices, such as tablet computers. Our on-demand delivery model eliminates the need for our employer clients to install and maintain hardware and software in order to support CDB programs and enables us to rapidly implement product enhancements across our entire user base. WageWorks Supports Continued Growth with New Office Space in Downtown Milwaukee WageWorks Supports Continued Growth with New Office Space in Downtown Milwaukee WageWorks Supports Continued Growth with New Office Space in Downtown Milwaukee Milwaukee, WI – December 18, 2017 – WageWorks, Inc. (NYSE: WAGE), a leader in administering Consumer-Directed Benefits, has announced plans to relocate from its current location in Mequon, Wisconsin to CityCenter at 735, located in downtown Milwaukee to support growing demand for its benefit offerings. "This move will enable WageWorks to streamline operations and accommodate future growth," said Joe Jackson, Chairman and CEO of WageWorks. "The vibrancy of downtown Milwaukee reflects our culture and values, and we’re thrilled to join this dynamic community." WageWorks currently employs more than 150 people in the Greater Milwaukee Area, spanning teams that include Information Technology, Relationship Management, Human Resources, Customer Service and other functions needed to support Consumer-Directed Benefits for employers across the country. Those interested in job opportunities with the company should visit About WageWorks WageWorks (NYSE: WAGE) is a leader in administering Consumer-Directed Benefits (CDBs). WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits. WageWorks makes it easier to understand and take advantage of Consumer-Directed Benefits for more than 100,000 employers and approximately 6.5 million people. WageWorks is headquartered in San Mateo, California, with offices in major locations throughout the United States. For more information, visit www.wageworks.com. WageWorks Reports Third Quarter 2017 Financial Results WageWorks Reports Third Quarter 2017 Financial Results WageWorks Reports Third Quarter 2017 Financial Results SAN MATEO, Calif., Nov. 08, 2017 (GLOBE NEWSWIRE) -- WageWorks, Inc. (the “Company”) (NYSE: WAGE), a leader in administering Consumer-Directed Benefits, today announced the Company's financial results for its third quarter ended September 30, 2017. “We are very pleased with our strong third quarter performance which was highlighted by a healthy growth rate and impressive financial metrics” said Joe Jackson, Chairman and Chief Executive Officer of WageWorks. “We completed a successful enterprise sales season and our SMB selling season is well underway. We continue to see interest in all of our products and our comprehensive platform of integrated offerings remains a competitive differentiator for us. We recently announced the acquisition of Tango Health’s HSA business and are actively working on a number of other acquisition and channel partner opportunities. We are executing on all of our growth strategies and are well positioned for continued success.” For the third quarter, WageWorks reported total revenue of $115.7 million, compared to $88.9 million for the third quarter of 2016, an increase of 30 percent. Healthcare revenue was $66.2 million, compared to $48.5 million for the third quarter of 2016, an increase of 37 percent. Commuter revenue was $18.0 million, compared to $17.6 million for the third quarter of 2016, an increase of 2 percent. COBRA revenue was $27.5 million, compared to $18.7 million for the third quarter of 2016, an increase of 48 percent. Other revenue was $4.0 million, compared to $4.2 million for the third quarter of 2016. The reconciliation of the non-GAAP measures to the comparable GAAP measures for the third quarter 2017 and 2016 is detailed in the tables provided in this press release. As of September 30, 2017, WageWorks had cash and cash equivalents totaling $798.3 million. This compares to cash and cash equivalents totaling $678.3 million as of December 31, 2016.