Record AUM of $162.9 Billion
Diluted Earnings Per Share of $0.28; Adjusted Earnings Per Share of $0.31
13% Annualized Organic Flow Growth Rate
Operating Margin Expanded by 780 bps Year over Year; or 900 bps, on an Adjusted Basis
NEW YORK--(BUSINESS WIRE)--July 31, 2026--
WisdomTree, Inc. $(WT)$, a global financial innovator, today reported financial results for the second quarter of 2026.
$44.3 million of net income ($48.1(1) million, as adjusted). See "Non-GAAP Financial Measurements" for additional information.
$162.9 billion of ending AUM, an increase of 6.7% from the prior quarter arising from AUM related to our acquisition of Atlantic House Holdings Limited ("Atlantic House"), market appreciation and net inflows.
$3.1 billion of net inflows, across the United States and Europe primarily driven by inflows into our commodity, international developed equity and U.S. equity products, partly offset by outflows from our leveraged and inverse products.
0.36% average advisory fee, unchanged from the prior quarter.
0.43% revenue yield(2) , a 1 basis point increase from the prior quarter due to revenues arising from the Atlantic House acquisition.
$177.2 million of operating revenues, an increase of 11.1% from the prior quarter due to higher average AUM, the Atlantic House acquisition, and higher performance fees and higher other revenues attributable to our European listed exchange-traded products ("ETPs").
82.9% gross margin(1) , a 1.5 point decrease from the prior quarter primarily reflecting higher expenses, including those associated with anticipated fund launches.
40.5% operating income margin for the quarter (42.6%(1) as adjusted), an increase of 330 basis points from the prior quarter on both a GAAP and as adjusted basis. Operating margin expansion was primarily driven by higher revenues, seasonally elevated compensation expense in the prior period and lower acquisition-related costs, partially offset by higher intangible amortization arising from the Atlantic House acquisition. Adjusted operating income margin excludes intangible asset amortization and acquisition-related costs.
39.0% operating income margin year-to date (41.1%(3) as adjusted), an increase of 780 basis points (900 basis points(3) , as adjusted) from the prior-year period. Operating income margin expansion was primarily driven by higher revenues, including contributions from Ceres Partners, LLC ("Ceres"), partly offset by higher intangible asset amortization related to the Ceres and Atlantic House acquisitions and increased third-party distribution fees. Adjusted operating income margin excludes intangible asset amortization and acquisition-related costs.
$126.9 million aggregate principal amount of convertible senior notes retired, including $75.0 million of 3.25% convertible notes due 2026 (the "2026 Notes") and $51.9 million of 3.25% convertible senior notes due 2029 (the "2029 Notes"), for aggregate cash consideration of $207.5 million. Conversion prices of the 2026 Notes and 2029 Notes were $11.04 and $11.82, respectively.
$25.9 million of common stock repurchased, representing approximately 1.5 million shares at an average repurchase price of $17.40 per share.
$0.03 quarterly dividend declared, payable on August 26, 2026 to stockholders of record as of the close of business on August 12, 2026.
Update from Jarrett Lilien, WisdomTree President and COO
"The second quarter demonstrated the quality of WisdomTree's growth. Our sixth consecutive quarter of record assets under management reflects momentum that is broad-based across regions, asset classes and client segments--not dependent on any single product, market or geography. That breadth, combined with continued operating discipline, positions WisdomTree to continue delivering sustainable organic growth and margin expansion." ------------------------------------------------------------------------------
Update from Jonathan Steinberg, WisdomTree CEO
"This was another excellent quarter for WisdomTree and a reflection of the diversified business we've spent the past two decades building. As we celebrate our twentieth anniversary, we've evolved from an ETF pioneer into a modern global asset manager spanning ETFs, private markets, liquid alternatives and tokenized financial infrastructure. Our vision has remained remarkably consistent, even as the opportunities in front of us have expanded. We believe we're still in the early innings of what this platform can become, and we're excited about the opportunities ahead." ------------------------------------------------------------------------------
OPERATING AND FINANCIAL HIGHLIGHTS
Three Months Ended
------------------------------------------
June Mar. Dec. Sept.
30, 31, 31, 30, June 30,
2026 2026 2025 2025 2025
------ ------- ------- ------ --------
Consolidated
Operating Highlights
($ in billions):
---------------------
AUM--end of period $162.9 $152.6 $144.5 $137.2 $126.1
Net
inflows/(outflows) $ 3.1 $ 5.9 $ (0.3) $ 2.2 $ 3.5
Average AUM $164.2 $154.7 $140.7 $130.8 $119.2
Average advisory
fee 0.36% 0.36% 0.35% 0.35% 0.35%
Revenue yield(2) 0.43% 0.42% 0.42% 0.38% 0.38%
Consolidated
Financial Highlights
($ in millions,
except per share
amounts):
---------------------
Operating revenues $177.2 $159.5 $147.4 $125.6 $112.6
Net income/(loss) $ 44.3 $(23.1) $ 40.0 $ 19.7 $ 24.8
Diluted
earnings/(loss)
per share $ 0.28 $(0.17) $ 0.28 $ 0.13 $ 0.17
Operating income
margin 40.5% 37.2% 40.5% 36.3% 30.8%
As Adjusted
(Non-GAAP(1) ):
---------------------
Operating revenues,
as adjusted $177.2 $159.5 $147.4 $125.6 $112.6
Gross margin 82.9% 84.4% 83.2% 82.2% 81.1%
Net income, as
adjusted $ 48.1 $ 40.6 $ 41.2 $ 34.5 $ 25.9
Diluted earnings
per share, as
adjusted $ 0.31 $ 0.27 $ 0.29 $ 0.23 $ 0.18
Operating income
margin, as
adjusted 42.6% 39.3% 41.7% 38.3% 32.5%
RECENT BUSINESS DEVELOPMENTS
Company News In May 2026, WisdomTree completed the acquisition of Atlantic House, a London-based systematic manager specializing in defined outcome and derivatives-driven investment strategies, with approximately GBP4.1 billion ($5.5 billion) in assets under management. The acquisition advances WisdomTree's strategy of combining strong organic growth with disciplined inorganic expansion and enhances its long-term growth profile through expanded product capabilities, broader distribution and a deeper model portfolio footprint. In June 2026, WisdomTree announced the appointment of John Whelan as Head of Strategy, Digital Assets, underscoring the firm's commitment to leadership in the digital assets space, broadening offerings for retail and institutional investors onchain. In June 2026, WisdomTree celebrated the 20-year anniversary of listing its first ETFs on the NYSE, marking two decades of challenging industry conventions, expanding investor access, and building a diversified modern asset management platform designed for the future of finance. Also in June 2026, WisdomTree won the following awards:recognized with two honors at The Future of Finance Awards 2026, receiving Best Digital Asset Fund Issuer in North America and Best Tokenized Transfer Agent for WisdomTree Transfers, Inc.; received a top honor at the 2026 InvestmentNews Awards, with WisdomTree named ETF Provider of the Year; and winner of the Best ETF Provider at the 2026 Online Money Awards for the third consecutive year. Product News From May 2026 through July 2026, we launched the following products:In Europe, we launched the WisdomTree 1-Day Equity Put Premium (1PUT), WisdomTree Space Economy UCITS ETF (WSPC), WisdomTree AI Infrastructure UCITS ETF (WAGI) and the WisdomTree Global High Dividend UCITS ETF $(WDIV)$ on major European exchanges including the London Stock Exchange, Börse Xetra and Borsa Italiana. During the same period, in the U.S., we launched the WisdomTree Efficient Rare Earth Plus Strategic Metals Fund (WDIG) and WisdomTree Physical AI, Humanoids, and Drones Fund $(WDRN)$, listed on the Cboe BZX Exchange, Inc., $(CBOE)$, as well as the WisdomTree Space Economy Fund (WSPC), listed on The Nasdaq Stock Market LLC. ------------------------------------------------------------------------------ WISDOMTREE, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (Unaudited) Three Months Ended Six Months Ended --------------------------------------------------------- ---------------------- June 30, Mar. 31, Dec. 31, Sept. 30, June 30, June 30, June 30, 2026 2026 2025 2025 2025 2026 2025 --------- --------- --------- ------------- --------- --------- --------- Operating Revenues: Advisory fees $146,300 $134,880 $122,712 $114,485 $103,241 $281,180 $202,790 Management fees 5,369 5,231 4,908 -- -- 10,600 -- Performance fees 5,964 2,955 7,105 -- -- 8,919 -- Other revenues 19,527 16,404 12,709 11,131 9,380 35,931 17,913
------- ------- ------- ------- --- ------- ------- -------
Total revenues 177,160 159,470 147,434 125,616 112,621 336,630 220,703
------- ------- ------- ------- --- ------- ------- -------
Operating Expenses:
Compensation and
benefits 43,718 47,517 37,273 33,791 32,827 91,235 66,615
Fund management and
administration 30,229 24,880 24,830 22,353 21,252 55,109 41,966
Marketing and
advertising 6,041 5,392 5,613 4,788 5,330 11,433 10,143
Sales and business
development 4,938 4,197 4,045 3,943 4,232 9,135 8,369
Professional fees 4,098 3,308 3,596 3,505 3,177 7,406 5,959
Occupancy,
communications and
equipment 2,229 1,935 1,892 1,601 1,559 4,164 3,041
Depreciation and
amortization 3,415 2,096 2,043 615 580 5,511 1,120
Third-party
distribution fees 5,401 5,795 4,772 3,977 4,083 11,196 7,195
Acquisition-related
costs 1,118 1,933 317 2,409 1,967 3,051 1,967
Other 4,162 3,067 3,306 2,980 2,982 7,229 5,534
------- ------- ------- ------- --- ------- ------- -------
Total
operating
expenses 105,349 100,120 87,687 79,962 77,989 205,469 151,909
------- ------- ------- ------- --- ------- ------- -------
Operating income 71,811 59,350 59,747 45,654 34,632 131,161 68,794
Other Income/(Expenses):
Interest expense (14,852) (11,023) (11,023) (8,466) (5,490) (25,875) (10,931)
Interest income 3,203 2,592 2,965 4,015 2,090 5,795 3,987
Loss on repurchase
of convertible
notes (6,623) (62,302) (833) (13,011) -- (68,925) --
Remeasurement of
contingent
consideration (1,360) (2,562) (710) -- -- (3,922) --
Other gains and
losses, net 6,368 (637) 317 1,325 638 5,731 388
------- ------- ------- ------- --- ------- ------- -------
Income/(loss) before
income taxes 58,547 (14,582) 50,463 29,517 31,870 43,965 62,238
Income tax expense 14,263 8,549 10,437 9,816 7,093 22,812 12,832
------- ------- ------- ------- --- ------- ------- -------
Net income/(loss) $ 44,284 $(23,131) $ 40,026 $ 19,701 $ 24,777 $ 21,153 $ 49,406
======= ======= ======= ======= === ======= ======= =======
Earnings/(loss) per
share--basic $ 0.30 $ (0.17) $ 0.29 $ 0.14 (4) $ 0.17 $ 0.15 $ 0.35
Earnings/(loss) per
share--diluted $ 0.28 $ (0.17) $ 0.28 $ 0.13 (4) $ 0.17 $ 0.14 $ 0.34
Weighted average common
shares--basic 149,001 138,005 136,340 139,584 143,076 143,533 142,830
Weighted average common
shares--diluted 156,276 138,005 143,314 150,675 146,640 154,386 146,513
As Adjusted (Non-GAAP(1) )
-------------------------- --------- --------- --------- ------------- -------
Total revenues $177,160 $159,470 $147,434 $125,616 $112,621
Total operating expenses $101,619 $ 96,752 $ 85,936 $ 77,553 $ 76,022
Operating income $ 75,541 $ 62,718 $ 61,498 $ 48,063 $ 36,599
Income before income taxes $ 63,354 $ 54,654 $ 53,840 $ 45,318 $ 33,798
Income tax expense $ 15,274 $ 14,061 $ 12,605 $ 10,842 $ 7,935
Net income $ 48,080 $ 40,593 $ 41,235 $ 34,476 $ 25,863
Earnings per
share--diluted $ 0.31 $ 0.27 $ 0.29 $ 0.23 $ 0.18
Weighted average common
shares--diluted 156,276 152,372 143,314 150,675 146,640
-------------------------- ------- ------- ------- ------- --- -------
QUARTERLY HIGHLIGHTS
Operating Revenues
-- Operating revenues increased 11.1% from the first quarter of 2026, due
to higher average AUM, the Atlantic House acquisition, higher performance
fees and higher other revenues attributable to our European listed ETPs.
Operating revenues increased 57.3% from the second quarter of 2025, due
to higher average AUM, a higher average advisory fee, revenues arising
from the Ceres and Atlantic House acquisitions and increased other
revenues from our European listed ETPs.
-- Our average advisory fee was 0.36% for both the first and second
quarters of 2026 and 0.35% for the second quarter of 2025.
Operating Expenses
-- Operating expenses increased 5.2% from the first quarter of 2026
primarily due to higher fund management and administration fees and
intangible amortization related to the Atlantic House acquisition, partly
offset by seasonally elevated compensation expense in the prior period
and lower acquisition-related costs.
-- Operating expenses increased 35.1% from the second quarter of 2025
primarily due to higher incentive compensation and headcount, as well as
increased fund management and administration expenses, intangible asset
amortization related to the Ceres and Atlantic House acquisitions and
third-party distribution fees.
Other Income/(Expenses)
-- Interest expense increased 34.7% from the first quarter of 2026 and
170.5% from the second quarter of 2025 due to a higher level of debt
outstanding and higher interest rates.
-- Interest income increased 23.6% from the first quarter of 2026 and
53.3% from the second quarter of 2025 due to the higher level of
interest-earning assets.
-- During the second quarter of 2026, we recognized a $6.6 million loss
related to the repurchase of $51.9 million in aggregate principal amount
of our 2029 Notes.
-- Contingent consideration related to the Ceres acquisition increased
from $14.4 million on March 31, 2026 to $15.8 million at June 30, 2026,
resulting in a $1.4 million loss on remeasurement recognized during the
second quarter of 2026.
-- Other gains and losses, net, was a gain of $6.4 million for the second
quarter of 2026. This included a remeasurement gain of $4.4 million on
British pounds held to complete the Atlantic House acquisition and a net
gain of $2.9 million on our financial instruments owned. Gains and losses
also generally arise from the sale of gold and cryptocurrency earned from
advisory fees paid by our physically-backed gold and crypto ETPs, foreign
exchange fluctuations and miscellaneous items.
Income Taxes
-- Our effective income tax rate for the second quarter of 2026 was 24.4%,
resulting in income tax expense of $14.2 million. The effective tax rate
differs from the U.S. federal statutory rate of 21.0% primarily due to
non-deductible amounts associated with the repurchase of convertible
notes.
-- Our adjusted effective income tax rate for the second quarter of 2026
was 24.1%(1).
SIX MONTH HIGHLIGHTS
-- Operating revenues increased 52.5% as compared to 2025 due to higher
average AUM, a higher average advisory fee, revenues arising from the
Ceres and Atlantic House acquisitions and increased other revenues from
our European listed ETPs.
-- Operating expenses increased 35.3% as compared to 2025 primarily due to
higher incentive compensation and headcount, as well as increased fund
management and administration expenses, third-party distribution fees and
intangible asset amortization arising from the Ceres and Atlantic House
acquisitions.
-- Significant items reported in other income/(expense) in 2026 include:
an increase in interest expense of 136.7% due to a higher level of debt
outstanding and higher interest rates; an increase in interest income of
45.3% due to an increase in our interest-earning assets; a remeasurement
gain of $4.4 million on British pounds held to complete the Atlantic
House acquisition, net gains on our financial instruments owned of $2.0
million, net losses on our investments of $0.5 million and $0.5 million
of foreign currency remeasurement losses on U.S. dollars held by foreign
subsidiaries. Gains and losses also generally arise from the sale of gold
earned on management fees paid by our physically-backed gold ETPs, other
foreign exchange fluctuations and miscellaneous items.
-- Our effective income tax rate for 2026 was 51.9%, resulting in an
income tax expense of $22.8 million. The effective tax rate differs from
the federal statutory rate of 21.0% primarily due to non-deductible
amounts associated with the repurchase of convertible notes, partly
offset by tax windfalls associated with the vesting of stock-based
compensation awards and a lower tax rate on foreign earnings.
CONFERENCE CALL DIAL-IN AND WEBCAST DETAILS
WisdomTree will discuss its results and operational highlights during a live webcast on Friday, July 31, 2026 at 11:00 a.m. ET, which, together with all earnings materials, can be accessed via WisdomTree's investor relations website at https://ir.wisdomtree.com. A replay of the webcast will be available shortly after the call.
Participants also can dial in using the following numbers: (877) 407-9210 or (201) 689-8049. Click here to access the participant international toll-free access numbers.
To avoid delays, we encourage participants to log in or dial into the conference call 10 minutes ahead of the scheduled start time.
About WisdomTree
WisdomTree is a global financial innovator, offering a diverse suite of exchange-traded products (ETPs), models and solutions, private market investments and digital asset-related products. Our offerings empower investors to shape their financial future and equip financial professionals to grow their businesses. Leveraging the latest financial infrastructure, we create products that emphasize access and transparency and provide an enhanced user experience. Building on our heritage of innovation, we offer next-generation digital products and services related to tokenized real world assets and stablecoins, as well as our institutional platform, WisdomTree Connect$(TM)$ and blockchain-native digital wallet, WisdomTree Prime$(R)$* , and have expanded into private markets through the acquisition of Ceres Partners' U.S. farmland platform.
* The WisdomTree Connect institutional platform and WisdomTree Prime digital wallet and digital asset services are made available through WisdomTree Digital Movement, Inc., a federally registered money services business, state-licensed money transmitter and financial technology company (NMLS ID: 2372500) or WisdomTree Digital Trust Company, LLC, and may be limited where prohibited by law. WisdomTree Digital Trust Company, LLC is chartered as a limited purpose trust company by the New York State Department of Financial Services to engage in virtual currency business. Visit https://wisdomtreeconnect.com, https://www.wisdomtreeprime.com or the WisdomTree Prime mobile app for more information.
WisdomTree currently has approximately $167.9 billion in assets under management globally, inclusive of assets managed by Ceres Partners, LLC as of the last reportable period.
For more information about WisdomTree, WisdomTree Connect and WisdomTree Prime, visit: https://www.wisdomtree.com.
Please visit us on X at @WisdomTreeNews.
WisdomTree(R) is the marketing name for WisdomTree, Inc. and its subsidiaries worldwide.
PRODUCTS AND SERVICES AVAILABLE VIA WISDOMTREE CONNECT AND WISDOMTREE PRIME:
NOT FDIC INSURED | NO BANK GUARANTEE | NOT A BANK DEPOSIT | MAY LOSE VALUE | NOT SIPC PROTECTED | NOT INSURED BY ANY GOVERNMENT AGENCY
The products and services available through WisdomTree Connect and the WisdomTree Prime app are not endorsed, indemnified or guaranteed by any regulatory agency.
References to third-party platforms, protocols, or use cases are provided for informational purposes only and do not constitute an endorsement, recommendation, or solicitation by WisdomTree or its affiliates. WisdomTree and its affiliates do not control or operate such third-party platforms or protocols and are not responsible for their operation or performance.
____________________
(1) See "Non-GAAP Financial Measurements."
(2) Revenue yield is computed by dividing our annualized adjusted operating
revenues as reported in the GAAP to Non-GAAP Reconciliation herein by
our average AUM during the period.
(3) Adjusted operating margin is calculated as adjusted operating income
divided by total revenues. Adjusted operating income excludes
intangible asset amortization of $4,046 for the six months ended June
30, 2026 and acquisition-related costs of $3,051 and $1,967 for the six
months ended June 30, 2026 and 2025, respectively.
(4) Earnings per share ("EPS") is calculated pursuant to the two-class
method as it results in a lower EPS amount as compared to the treasury
stock method. In addition, the three months ended September 30, 2025
includes $718 of stock repurchase excise taxes, which is excluded from
net income, but is required to be added to net income to arrive at
income available to common stockholders in the calculation of EPS. This
item is excluded from our EPS when computed on a non-GAAP basis.
WISDOMTREE, INC. AND SUBSIDIARIES
KEY OPERATING STATISTICS
(Unaudited)
Three Months Ended
-------------------------------------------------------
June 30, Mar. 31, Dec. 31, Sept. 30, June 30,
2026 2026 2025 2025 2025
--------- --------- --------- --------- -----------
GLOBAL PRODUCTS ($ in millions)
----------------------------------
Beginning of period assets $152,556 $144,525 $137,175 $126,070 $115,787
Add: Assets acquired--Ceres
acquisition -- -- 1,812 -- --
Add: Assets
acquired--Atlantic House
acquisition 4,137 -- -- -- --
Inflows/(outflows) 3,062 5,934 (283) 2,241 3,529
Market appreciation 3,154 2,097 5,821 8,864 6,754
------- ------- ------- ------- -------
End of period assets $162,909 $152,556 $144,525 $137,175 $126,070
======= ======= ======= ======= =======
Average assets during the
period $164,150 $154,663 $140,686 $130,760 $119,185
Average ETPs and tokenized
products during the period $162,151 $152,716 $138,871 $130,760 $119,185
Average ETP advisory fee
during the period 0.36% 0.36% 0.35% 0.35% 0.35%
Total revenue yield 0.43% 0.42% 0.42% 0.38% 0.38%
Revenue days 91 90 92 92 91
Number of products--end of
the period 451 414 405 397 383
ETPs AND TOKENIZED PRODUCTS
----------------------------------
U.S. LISTED ETFs ($ in
millions)
----------------------------------
Beginning of period assets $ 90,946 $ 88,521 $ 88,293 $ 85,179 $ 80,531
Inflows/(outflows) 1,079 2,643 (1,108) (445) 1,110
Market
appreciation/(depreciation) 6,989 (218) 1,336 3,559 3,538
------- ------- ------- ------- -------
End of period assets $ 99,014 $ 90,946 $ 88,521 $ 88,293 $ 85,179
======= ======= ======= ======= =======
Average assets during the
period $ 96,585 $ 91,742 $ 88,074 $ 87,205 $ 81,525
Number of ETFs--end of the
period 92 90 85 84 81
EUROPEAN LISTED ETPs ($ in
millions)
----------------------------------
Beginning of period assets $ 58,758 $ 53,345 $ 48,290 $ 40,541 $ 35,124
Add: Assets
acquired--Atlantic House
acquisition 4,137 -- -- -- --
Inflows 2,088 3,118 609 2,448 2,201
Market
(depreciation)/appreciation (3,877) 2,295 4,446 5,301 3,216
------- ------- ------- ------- -------
End of period assets $ 61,106 $ 58,758 $ 53,345 $ 48,290 $ 40,541
======= ======= ======= ======= =======
Average assets during the
period $ 64,649 $ 60,193 $ 50,102 $ 42,853 $ 37,439
Number of ETPs--end of the
period 338 304 300 295 285
DIGITAL ASSETS ($ in
millions)
----------------------------------
Beginning of period assets $ 867 $ 770 $ 592 $ 350 $ 132
(Outflows)/inflows (110) 98 179 238 218
Market
appreciation/(depreciation) 4 (1) (1) 4 --
------- ------- ------- ------- -------
End of period assets $ 761 $ 867 $ 770 $ 592 $ 350
======= ======= ======= ======= =======
Average assets during the
period $ 917 $ 781 $ 695 $ 702 $ 221
Number of products--end of
the period 19 19 19 18 17
PRIVATE ASSETS ($ in millions)
----------------------------------
Beginning of period assets $ 1,985 $ 1,889 $ -- $ -- $ --
Add: Assets acquired--Ceres
acquisition -- -- 1,812 -- --
Inflows 5 75 37 -- --
Market appreciation 38 21 40 -- --
------- ------- ------- ------- -------
End of period assets $ 2,028 $ 1,985 $ 1,889 $ -- $ --
======= ======= ======= ======= =======
Average assets during the
period $ 1,999 $ 1,947 $ 1,815 $ $
Number of products--end of
the period 2 1 1 -- --
ETPs AND TOKENIZED PRODUCT
CATEGORIES ($ in millions)
----------------------------------
U.S. Equity
Beginning of period assets $ 41,511 $ 41,427 $ 40,977 $ 38,617 $ 35,628
Inflows 478 354 191 32 1,287
Market
appreciation/(depreciation) 4,401 (270) 259 2,328 1,702
------- ------- ------- ------- -------
End of period assets $ 46,390 $ 41,511 $ 41,427 $ 40,977 $ 38,617
======= ======= ======= ======= =======
Average assets during the
period $ 44,894 $ 42,394 $ 41,161 $ 40,024 $ 36,080
Commodity & Currency
Beginning of period assets $ 40,310 $ 36,980 $ 31,705 $ 26,696 $ 25,487
Inflows/(outflows) 1,890 35 177 1,096 (110)
Market (depreciation)/appreciation (4,614) 3,295 5,098 3,913 1,319
------- ------- ------- ------- -------
End of period assets $ 37,586 $ 40,310 $ 36,980 $ 31,705 $ 26,696
======= ======= ======= ======= =======
Average assets during the period $ 41,749 $ 41,458 $ 33,824 $ 28,162 $ 25,888
International Developed Market
Equity
Beginning of period assets $ 29,186 $ 25,616 $ 23,893 $ 21,725 $ 18,178
Inflows 727 3,495 1,147 478 1,646
Market appreciation 2,287 75 576 1,690 1,901
------- ------- ------- ------- -------
End of period assets $ 32,200 $ 29,186 $ 25,616 $ 23,893 $ 21,725
======= ======= ======= ======= =======
Average assets during the period $ 32,012 $ 29,349 $ 24,708 $ 22,481 $ 19,577
Fixed Income
Beginning of period assets $ 22,395 $ 21,074 $ 22,509 $ 22,543 $ 22,230
Inflows/(outflows) 320 1,272 (1,358) (58) 148
Market (depreciation)/appreciation (57) 49 (77) 24 165
------- ------- ------- ------- -------
End of period assets $ 22,658 $ 22,395 $ 21,074 $ 22,509 $ 22,543
======= ======= ======= ======= =======
Average assets during the period $ 22,179 $ 21,187 $ 21,422 $ 23,128 $ 22,526
Emerging Market Equity
Beginning of period assets $ 10,143 $ 10,643 $ 10,855 $ 10,957 $ 9,985
(Outflows)/inflows (106) (206) (508) (250) 28
Market appreciation/(depreciation) 1,242 (294) 296 148 944
------- ------- ------- ------- -------
End of period assets $ 11,279 $ 10,143 $ 10,643 $ 10,855 $ 10,957
======= ======= ======= ======= =======
Average assets during the period $ 11,188 $ 10,902 $ 10,839 $ 10,874 $ 10,295
Alternatives
Beginning of period assets $ 1,580 $ 1,379 $ 1,155 $ 814 $ 593
Add: Assets acquired--Atlantic
House acquisition 4,137 -- -- -- --
Inflows 31 207 163 231 191
Market (depreciation)/appreciation (40) (6) 61 110 30
------- ------- ------- ------- -------
End of period assets $ 5,708 $ 1,580 $ 1,379 $ 1,155 $ 814
======= ======= ======= ======= =======
Average assets during the period $ 4,462 $ 1,620 $ 1,270 $ 929 $ 665
Leveraged & Inverse
Beginning of period assets $ 3,663 $ 3,275 $ 2,913 $ 2,631 $ 2,133
(Outflows)/inflows (354) 565 (15) (52) 141
Market appreciation/(depreciation) 155 (177) 377 334 357
------- ------- ------- ------- -------
End of period assets $ 3,464 $ 3,663 $ 3,275 $ 2,913 $ 2,631
======= ======= ======= ======= =======
Average assets during the period $ 3,772 $ 3,785 $ 3,097 $ 2,750 $ 2,354
Cryptocurrency
Beginning of period assets $ 1,783 $ 2,242 $ 3,168 $ 2,087 $ 1,553
Inflows/(outflows) 71 137 (117) 764 198
Market (depreciation)/appreciation (258) (596) (809) 317 336
------- ------- ------- ------- -------
End of period assets $ 1,596 $ 1,783 $ 2,242 $ 3,168 $ 2,087
======= ======= ======= ======= =======
Average assets during the period $ 1,895 $ 2,021 $ 2,550 $ 2,412 $ 1,800
Headcount 414 357 360 338 321
Note: Previously issued statistics may be restated due to fund closures and trade adjustments.
Source: WisdomTree
WISDOMTREE, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share amounts)
June 30, Dec. 31,
2026 2025
----------- ----------
(Unaudited)
ASSETS
Current assets:
Cash, cash equivalents and restricted
cash $ 294,814 $ 311,732
Financial instruments owned, at fair
value 37,652 107,117
Accounts receivable 74,835 64,452
Income tax receivable 498 --
Prepaid expenses 13,300 7,338
Other current assets 2,265 1,723
--------- ---------
Total current assets 423,364 492,362
Fixed assets, net 593 431
Deferred tax assets, net -- 9,803
Investments 28,638 29,075
Right of use assets--operating leases 2,888 2,764
Goodwill 355,407 228,624
Intangible assets, net 833,006 748,957
Other noncurrent assets 1,275 925
--------- ---------
Total assets $1,645,171 $1,512,941
========= =========
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Current liabilities:
Convertible notes--current $ 17,851 $ 149,604
Fund management and administration
payable 26,017 29,448
Compensation and benefits payable 39,104 52,435
Payable to Gold Bullion Holdings
(Jersey) Limited ("GBH") 14,418 13,940
Operating lease liabilities 1,690 1,614
Income taxes payable -- 2,295
Accounts payable and other
liabilities 42,273 32,720
--------- ---------
Total current liabilities 141,353 282,056
Convertible notes--long term 1,057,600 804,203
Contingent consideration 15,766 11,844
Deferred tax liabilities 10,678 --
Operating lease liabilities--long term 1,258 1,166
--------- ---------
Total liabilities 1,226,655 1,099,269
STOCKHOLDERS' EQUITY
Common stock, par value $0.01; 400,000 shares
authorized:
Issued and outstanding: 151,697 and
140,713 at June 30, 2026 and
December 31, 2025, respectively 1,517 1,407
Additional paid-in capital 186,300 189,244
Accumulated other comprehensive (loss)/income (2,627) 2,227
Retained earnings 233,326 220,794
--------- ---------
Total stockholders' equity 418,516 413,672
--------- ---------
Total liabilities and stockholders' equity $1,645,171 $1,512,941
========= =========
WISDOMTREE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(Unaudited)
Six Months Ended
June 30,
-----------------------
2026 2025
-------- -------
Cash flows from operating activities:
Net income $ 21,153 $ 49,406
Adjustments to reconcile net
income to net cash provided by
operating activities:
Loss on repurchase of
convertible notes 68,925 --
Advisory and license fees
paid in gold, other
precious metals and
cryptocurrency (47,838) (32,532)
Stock-based compensation 16,205 11,765
Depreciation and
amortization 5,511 1,120
Increase in fair value of
contingent consideration 3,922 --
Amortization of issuance
costs--convertible notes 2,417 1,252
Gains on financial
instruments owned, at fair
value (1,950) (844)
Amortization of right of use
asset 987 662
Imputed interest on payable
to GBH 477 923
Losses/(gains) on
investments 437 (920)
Deferred income taxes 118 4,206
Changes in operating assets and
liabilities:
Accounts receivable (5,367) 3,562
Income taxes
receivable/payable (3,166) (4,770)
Prepaid expenses (4,892) (5,000)
Gold and other precious
metals 48,787 31,543
Other assets 21 (143)
Fund management and
administration payable (3,200) 1,272
Compensation and benefits
payable (17,729) (18,273)
Operating lease liabilities (943) (655)
Accounts payable and other
liabilities 9,587 2,602
-------- -------
Net cash provided by
operating activities 93,462 45,176
-------- -------
Cash flows from investing activities:
Purchase of financial instruments
owned, at fair value (12,906) (15,756)
Purchase of investments -- (4,000)
Cash paid--software development (1,913) (1,323)
Purchase of fixed assets (216) (117)
Proceeds from the sale of financial
instruments owned, at fair value 83,085 4,478
Cash paid--Atlantic House
acquisition, net of cash acquired (197,488) --
Proceeds from held-to-maturity
securities maturing or called prior
to maturity -- 6
-------- -------
Net cash used in
investing activities (129,438) (16,712)
-------- -------
Cash flows from financing activities:
Repurchase of convertible notes (510,188) --
Common stock repurchased (50,890) (12,714)
Dividends paid (9,023) (8,923)
Issuance costs--convertible notes (12,593) --
Proceeds from the issuance of
convertible notes 603,750 --
Excise taxes paid on common stock
repurchased -- (1,868)
-------- -------
Net cash provided
by/(used in) financing
activities 21,056 (23,505)
-------- -------
(Decrease)/increase in cash flow due to
changes in foreign exchange rate (1,998) 7,523
-------- -------
Net (decrease)/increase in cash, cash
equivalents and restricted cash (16,918) 12,482
Cash, cash equivalents and restricted
cash--beginning of year 311,732 181,191
-------- -------
Cash, cash equivalents and restricted
cash--end of period $ 294,814 $193,673
======== =======
Supplemental disclosure of cash flow
information:
Cash paid for income
taxes $ 24,303 $ 13,468
======== =======
Cash paid for interest $ 20,164 $ 8,850
======== =======
NON-GAAP FINANCIAL MEASUREMENTS
In an effort to provide additional information regarding our results as determined by GAAP, we also disclose certain non-GAAP information which we believe provides useful and meaningful information. Our management reviews these non-GAAP financial measurements when evaluating our financial performance and results of operations; therefore, we believe it is useful to provide information with respect to these non-GAAP measurements so as to share this perspective of management. Non-GAAP measurements do not have any standardized meaning, do not replace nor are they superior to GAAP financial measurements and are unlikely to be comparable to similar measures presented by other companies. These non-GAAP financial measurements should be considered in the context with our GAAP results. The non-GAAP financial measurements contained in this press release include the following:
Adjusted Operating Income, Operating Expenses, Income Before Income Taxes, Income Tax Expense, Net Income and Diluted Earnings per Share
We disclose adjusted operating income, operating expenses, income before income taxes, income tax expense, net income and diluted earnings per share as non-GAAP financial measurements in order to report our results exclusive of items that are non-recurring or not core to our operating business. We believe presenting these non-GAAP financial measurements provides investors with a consistent way to analyze our performance. These non-GAAP financial measurements exclude the following:
Gains or losses on financial instruments owned: We account for our financial instruments owned as trading securities, which requires these instruments to be measured at fair value with gains and losses reported in net income. We exclude these items when calculating our non-GAAP financial measurements as the gains and losses introduce earnings volatility and are not core to our operating business.
Foreign currency remeasurement gains and losses on U.S. dollars held by foreign subsidiaries: GAAP requires account balances to be remeasured into an entity's functional currency, with resulting gains and losses reported in net income. Foreign subsidiaries holding U.S. dollars remeasure these balances into their functional currencies and recognize the gains and losses. Also excluded are remeasurement gains on British pounds held to complete the Atlantic House acquisition. We exclude remeasurement effects from our non-GAAP financial measures, as they introduce earnings volatility, are not core to our operations and arise from balances denominated in our reporting currency.
Tax windfalls and shortfalls upon vesting of stock-based compensation awards: GAAP requires the recognition of tax windfalls and shortfalls within income tax expense. These items arise upon the vesting of stock-based compensation awards and the magnitude is directly correlated to the number of awards vesting/exercised, as well as the difference between the price of our stock on the date the award was granted and the date the award vested or was exercised. We exclude these items when calculating our non-GAAP financial measurements as they introduce earnings volatility and are not core to our operating business.
Remeasurement of contingent consideration arising from the Ceres acquisition: On October 1, 2025, we completed the Ceres acquisition for aggregate consideration consisting of (i) $275 million in cash payable at closing, subject to customary post-closing adjustments and (ii) contingent consideration of up to $225 million, payable in 2030, contingent upon Ceres achieving a compound annual growth rate ("CAGR") in revenues of 12% to 22% during the measurement period of January 1, 2025 through December 31, 2029. GAAP requires contingent consideration to be re-measured each reporting period with changes in fair value reported in net income. We exclude changes in fair value of contingent consideration when calculating our non-GAAP financial measurements as these items are not core to our operating business.
Other items: Losses related to convertible notes transactions, amortization of intangible assets, changes in deferred tax asset valuation allowance, acquisition-related costs, imputed interest on our payable to Gold Bullion Holdings (Jersey) Limited ("GBH") and gains and losses recognized on our investments are excluded when calculating our non-GAAP financial measurements.
Adjusted Effective Income Tax Rate
We disclose our adjusted effective income tax rate as a non-GAAP financial measurement in order to report our effective income tax rate exclusive of items that are non-recurring or not core to our operating business. We believe reporting our adjusted effective income tax rate provides investors with a consistent way to analyze our income taxes. Our adjusted effective income tax rate is calculated by dividing adjusted income tax expense by adjusted income before income taxes. See above for information regarding the items that are excluded.
Gross Margin and Gross Margin Percentage
We disclose our gross margin and gross margin percentage as non-GAAP financial measurements because we believe they provide investors with a consistent way to analyze the amount we retain after paying third-party service providers to operate our ETPs. These measures also assist us in analyzing the profitability of our products. We define gross margin as total adjusted operating revenues less fund management and administration expenses. Gross margin percentage is calculated as gross margin divided by total adjusted operating revenues.
GAAP to NON-GAAP RECONCILIATION (CONSOLIDATED)
(in thousands)
(Unaudited)
Three Months Ended
-------------------------------------------------------
Adjusted Net Income and
Diluted Earnings per June 30, Mar. 31, Dec. 31, Sept. 30, June 30,
Share: 2026 2026 2025 2025 2025
--------- --------- --------- --------- -----------
Net income/(loss), as
reported $ 44,284 $(23,131) $ 40,026 $ 19,701 $ 24,777
Add back: Losses
related to
convertible notes
transactions, net
of income taxes 6,572 62,280 505 12,763 --
Deduct: Foreign
currency
remeasurement gains
on British pounds
held to complete
the Atlantic House
acquisition, net of
income taxes (3,277) -- -- -- --
(Deduct)/add back:
(Gains)/losses on
financial
instruments owned,
net of income
taxes (2,143) 668 8 (810) (972)
Add back:
Amortization of
intangible assets
arising from the
Ceres and Atlantic
House acquisitions,
net of income
taxes 1,969 1,087 1,086 -- --
(Deduct)/add back:
(Decrease)/increase
in deferred tax
asset valuation
allowance on
capital losses (1,615) 151 (1,237) (24) (459)
Add back:
Acquisition-related
costs, net of
income taxes 1,118 1,933 240 1,824 1,489
Add back: Increase
in fair value of
contingent
consideration, net
of income taxes 1,030 1,940 538 -- --
Add back: Imputed
interest on payable
to GBH, net of
income taxes 183 179 285 364 354
Deduct: Tax
windfalls upon
vesting of
stock-based
compensation
awards (66) (4,421) -- (76) (4)
Add back/(deduct):
Foreign currency
remeasurement
losses/(gains) on
U.S. dollar
balances, net of
income taxes 36 (435) (141) -- 1,136
(Deduct)/add back:
(Gains)/losses
recognized on
investments, net of
income taxes (11) 342 (75) 734 (458)
------- ------- ------- ------- -------
Adjusted net income $ 48,080 $ 40,593 $ 41,235 $ 34,476 $ 25,863
Weighted average common
shares--diluted 156,276 152,372 143,314 150,675 146,640
------- ------- ------- ------- -------
Adjusted earnings per
share--diluted $ 0.31 $ 0.27 $ 0.29 $ 0.23 $ 0.18
======= ======= ======= ======= =======
Three Months Ended
-------------------------------------------------------
Gross Margin and
Gross Margin June 30, Mar. 31, Dec. 31, Sept. 30, June 30,
Percentage: 2026 2026 2025 2025 2025
--------- --------- --------- --------- -----------
Operating revenues $177,160 $159,470 $147,434 $125,616 $112,621
Deduct: Fund
management and
administration (30,229) (24,880) (24,830) (22,353) (21,252)
------- ------- ------- ------- -------
Gross margin $146,931 $134,590 $122,604 $103,263 $ 91,369
------- ------- ------- ------- -------
Gross margin
percentage 82.9% 84.4% 83.2% 82.2% 81.1%
======= ======= ======= ======= =======
Three Months Ended
--------------------------------------------------
Adjusted Operating Income Sept.
and Adjusted Operating June 30, Mar. 31, Dec. 31, 30, June 30,
Income Margin: 2026 2026 2025 2025 2025
-------- -------- -------- -------- ----------
Operating revenues $177,160 $159,470 $147,434 $125,616 $112,621
------- ------- ------- ------- -------
Operating income 71,811 59,350 59,747 $ 45,654 $ 34,632
Add back:
Amortization of
intangible assets
arising from the
Ceres and Atlantic
House acquisitions 2,612 1,435 1,434 -- --
Add back:
Acquisition-related
costs 1,118 1,933 317 2,409 1,967
------- ------- ------- ------- -------
Adjusted operating income $ 75,541 $ 62,718 $ 61,498 $ 48,063 $ 36,599
------- ------- ------- ------- -------
Adjusted operating income
margin 42.6% 39.3% 41.7% 38.3% 32.5%
======= ======= ======= ======= =======
Three Months Ended
----------------------------------------------------
Sept.
Adjusted Total Operating June 30, Mar. 31, Dec. 31, 30, June 30,
Expenses: 2026 2026 2025 2025 2025
--------- --------- -------- -------- ----------
Total operating expenses $105,349 $100,120 $87,687 $79,962 $77,989
Deduct: Amortization
of intangible
assets arising from
the Ceres and
Atlantic House
acquisitions (2,612) (1,435) (1,434) -- --
Deduct:
Acquisition-related
costs (1,118) (1,933) (317) (2,409) (1,967)
------- ------- ------ ------ ------
Adjusted total operating
expenses $101,619 $ 96,752 $85,936 $77,553 $76,022
======= ======= ====== ====== ======
Three Months Ended
---------------------------------------------------
Sept.
Adjusted Income Before June 30, Mar. 31, Dec. 31, 30, June 30,
Income Taxes: 2026 2026 2025 2025 2025
-------- --------- -------- -------- ----------
Income/(loss) before
income taxes $58,547 $(14,582) $50,463 $29,517 $31,870
Add back: Losses
related to
convertible notes
transactions 6,623 62,302 833 13,011 --
Deduct: Foreign
currency
remeasurement gains
on British pounds
held to complete
the Atlantic House
acquisition, net of
income taxes (4,370) -- -- -- --
(Deduct)/add back:
(Gains)/losses on
financial
instruments owned (2,831) 882 10 (1,070) (1,284)
Add back:
Amortization of
intangible assets
arising from the
Ceres and Atlantic
House acquisitions 2,612 1,435 1,434 -- --
Add back: Increase
in fair value of
contingent
consideration 1,360 2,562 710 -- --
Add back:
Acquisition-related
costs 1,118 1,933 317 2,409 1,967
Add back: Imputed
interest on payable
to GBH 242 236 377 481 467
Add back/(deduct):
Foreign currency
remeasurement
losses/(gains) on
U.S. dollar
balances, net of
income taxes 68 (566) (205) -- 1,383
(Deduct)/add back:
(Gains)/losses
recognized on
investments (15) 452 (99) 970 (605)
------ ------- ------ ------ ------
Adjusted income before
income taxes $63,354 $ 54,654 $53,840 $45,318 $33,798
====== ======= ====== ====== ======
Three Months Ended
--------------------------------------------------
Adjusted Income Tax
Expense and Adjusted Sept.
Effective Income Tax June 30, Mar. 31, Dec. 31, 30, June 30,
Rate: 2026 2026 2025 2025 2025
-------- -------- -------- -------- ----------
Adjusted income before
income taxes (above) $63,354 $54,654 $53,840 $45,318 $33,798
------ ------ ------ ------ ------
Income tax expense $14,263 $ 8,549 $10,437 $ 9,816 $ 7,093
Add back/(deduct):
decrease/(increase)
in deferred tax
asset valuation
allowance on
capital losses 1,615 (151) 1,237 24 459
Deduct: Tax expense
on foreign currency
remeasurement gains
on British pounds
held to complete
the Atlantic House
acquisition (1,093) -- -- -- --
(Deduct)/add back:
Tax
(expense)/benefit
arising from
(gains)/losses on
financial
instruments owned (688) 214 2 (260) (312)
Add back: Tax
benefit of
intangible asset
amortization
arising from the
Ceres and Atlantic
House acquisitions 643 348 348 -- --
Add back: Tax
benefit arising
from increase in
fair value of
contingent
consideration 330 622 172 -- --
Add back: Tax
windfalls upon
vesting of
stock-based
compensation
awards 66 4,421 -- 76 4
Add back: Tax
benefit on imputed
interest 59 57 92 117 113
Add back: Tax
benefit arising
from convertible
notes transactions 51 22 328 248 --
Add back/(deduct):
Tax
benefit/(expense)
on foreign currency
remeasurement
losses/(gains) on
U.S. dollar
balances 32 (131) (64) -- 247
(Deduct)/add back:
Tax
(expense)/benefit
on (gains)/losses
on investments (4) 110 (24) 236 (147)
Add back: Tax
benefit on
acquisition-related
costs -- -- 77 585 478
------ ------ ------ ------ ------
Adjusted income tax
expense $15,274 $14,061 $12,605 $10,842 $ 7,935
------ ------ ------ ------ ------
Adjusted effective income
tax rate 24.1% 25.7% 23.4% 23.9% 23.5%
====== ====== ====== ====== ======
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to our management. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements relate to future events or our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should, " "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue" or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond our control and could materially affect results. Factors that may cause actual results to differ materially from current expectations include, among other things, the risks described below. If one or more of these or other risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. You should read this press release completely and with the understanding that our actual future results may be materially different from any future results expressed or implied by these forward-looking statements.
In particular, forward-looking statements in this press release may include statements about:
-- anticipated trends, conditions and investor sentiment in the global
markets and ETPs;
-- anticipated levels of inflows into and outflows out of our ETPs;
-- our ability to deliver favorable rates of return to investors;
-- competition in our business;
-- whether we will experience future growth;
-- our ability to develop new products and services and their potential
for success;
-- our ability to maintain current vendors or find new vendors to provide
services to us at favorable costs;
-- our ability to successfully implement our strategy relating to digital
assets and blockchain-enabled financial services, including WisdomTree
Connect(TM) and WisdomTree Prime(R), and achieve its objectives;
-- our ability to successfully operate and expand our business in non-U.S.
markets;
-- the effect of laws and regulations that apply to our business;
-- the potential benefits arising from the Ceres and Atlantic House
acquisitions, including financial or strategic outcomes; and
-- our ability to successfully implement our strategic goals relating to
the acquisitions and integrate the acquired businesses.
Our business is subject to many risks and uncertainties, including without limitation:
-- declining prices of securities, gold and other precious metals and
other commodities and changes in interest rates and general market
conditions can adversely affect our business by reducing the market value
of the assets we manage or causing WisdomTree ETP investors to sell their
fund shares and trigger redemptions;
-- fluctuations in the amount and mix of our AUM, whether caused by
disruptions in the financial markets or otherwise, including but not
limited to events such as a pandemic or war, geopolitical conflicts,
political events, acts of terrorism and other matters beyond our control,
may negatively impact revenues and operating margins, and may impede our
ability to refinance our debt upon maturity or increase the cost of
borrowing upon a refinancing;
-- competitive pressures could reduce revenues and profit margins;
-- we derive a substantial portion of our revenues from a limited number
of products, and, as a result, our operating results are particularly
exposed to investor sentiment toward investing in the products'
strategies and our ability to maintain the AUM of these products, as well
as the performance of these products and market-specific and political
and economic risk;
-- a significant portion of our AUM is held in products with exposure to
U.S. and international developed markets, and we therefore have exposure
to domestic and foreign market conditions and are subject to currency
exchange rate risks;
-- withdrawals or broad changes in investments in our ETPs by investors
with significant positions may negatively impact revenues and operating
margins;
-- we face increased operational, regulatory, financial and other risks as
a result of conducting our business internationally, and as we expand our
digital assets product offerings and services beyond our existing ETP
business;
-- many of our ETPs have a limited track record, and poor investment
performance could cause our revenues to decline; and
-- we depend on third parties to provide many critical services to operate
our business and our ETPs. The failure of key vendors to adequately
provide such services could materially affect our operating business and
harm WisdomTree ETP investors.
Additional risks include those associated with the Ceres and Atlantic House acquisitions, including the risk that the integrations may be more difficult, time-consuming or costly than expected, or that expected benefits (including projected business growth, realization of synergies, or the ability to raise additional capital into the funds of the acquired businesses) may not be realized as anticipated. Other factors, such as general economic conditions, including currency exchange rate fluctuations, also may have an effect on the results of our operations. For a more complete description of the risks noted above and other risks that could cause our actual results to differ from our current expectations, see "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025.
The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments may cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. Therefore, these forward-looking statements do not represent our views as of any date other than the date of this press release.
Category: Business Update
View source version on businesswire.com: https://www.businesswire.com/news/home/20260731339961/en/
CONTACT: Investor Relations
Jeremy Campbell
+1.917.267.3859
jeremy.campbell@wisdomtree.com
Media Relations
Jessica Zaloom
+1.917.267.3735
jzaloom@wisdomtree.com
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