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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________________

Form 8-K
________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 28, 2026
__________________

WisdomTree, Inc.

(Exact name of registrant as specified in its charter)

_____________________

 

 

Delaware 001-10932 13-3487784

(State or other jurisdiction

of incorporation)

Commission

File Number:

(IRS Employer

Identification No.)

250 West 34th Street

3rd Floor

New York, NY 10119

(Address of principal executive offices, including zip code)

(212) 801-2080

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)
 
_______________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of each class  

Trading

Symbol(s)

 

Name of each exchange

on which registered

Common Stock, $0.01 par value   WT   The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

 

 
   
 

 

Item 2.02. Results of Operations and Financial Condition.

On July 31, 2026, WisdomTree, Inc. (the “Company”) issued a press release announcing its financial results for the three and six months ended June 30, 2026. A copy of the press release containing this information is being furnished as Exhibit 99.1 to this Report on Form 8-K and is incorporated herein by reference.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section and shall not be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended.

Item 8.01. Other Events.

On July 28, 2026, the Company’s Board of Directors declared a quarterly cash dividend of $0.03 per share of common stock, payable on August 26, 2026 to stockholders of record as of the close of business on August 12, 2026. A copy of the press release issued in connection with the dividend is attached as Exhibit 99.1 to this Report on Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits:

 

Exhibit 99.1

  Press Release, dated July 31, 2026, relating to Q2 2026 earnings and quarterly cash dividend
     

Exhibit 104

  Cover Page Interactive Data File (embedded within the Inline XBRL document).

   
 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    WisdomTree, Inc.
       
Date: July 31, 2026   By: 

/s/ Bryan Edmiston

 

      Bryan Edmiston
      Chief Financial Officer

 

 

 

 

 

EX-99.1 2 ex99_1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

 

WisdomTree Announces Second Quarter 2026 Results

 

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, NY – (Business Wire) – July 31, 2026 – WisdomTree, Inc. (NYSE: 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.

 

  1  
 

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.”

  2  
 

 

OPERATING AND FINANCIAL HIGHLIGHTS

    Three Months Ended
    June 30,   Mar. 31,   Dec. 31,   Sept. 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 £4.1 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:
o 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.;
o received a top honor at the 2026 InvestmentNews Awards, with WisdomTree named ETF Provider of the Year; and
o 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:
o 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.
o 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.

 

  3  
 

 

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                  

  4  
 

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 $14.3 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.

  5  
 

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 and blockchain-native digital wallet, WisdomTree Prime®*, 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® 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.

Contact Information:  
Investor Relations Media Relations
Jeremy Campbell Jessica Zaloom
+1.917.267.3859 +1.917.267.3735
jeremy.campbell@wisdomtree.com jzaloom@wisdomtree.com

  6  
 

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  

  7  
 

    Three Months Ended
    June 30,   Mar. 31,   Dec. 31,   Sept. 30,   June 30,
    2026   2026   2025   2025   2025
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

  8  
 

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  

  9  
 

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  

  10  
 

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.

  11  
 

GAAP to NON-GAAP RECONCILIATION (CONSOLIDATED)

(in thousands)

(Unaudited)

 

    Three Months Ended
    June 30,   Mar. 31,   Dec. 31,   Sept. 30,   June 30,
Adjusted Net Income and Diluted Earnings per 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
    June 30,   Mar. 31,   Dec. 31,   Sept. 30,   June 30,
Gross Margin and Gross Margin 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
    June 30,   Mar. 31,   Dec. 31,   Sept. 30,   June 30,
Adjusted Operating Income and Adjusted Operating 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%  

  12  
 

    Three Months Ended
    June 30,   Mar. 31,   Dec. 31,   Sept. 30,   June 30,
Adjusted Total Operating 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
    June 30,   Mar. 31,   Dec. 31,   Sept. 30,   June 30,
Adjusted Income Before 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
    June 30,   Mar. 31,   Dec. 31,   Sept. 30,   June 30,
Adjusted Income Tax Expense and Adjusted Effective Income Tax 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%  

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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 and WisdomTree Prime®, 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.

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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

 

 

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