Slide 1: Q1 2025 Results
Q1 2025 Results May 2, 2025 WisdomTree – Q1/25 Results 1
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation 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
Slide 3: Q1 Highlights
Q1 Highlights AUM 112.6 115.8 116.3 + AUM and Net Flow Highlights: 107.2 109.7 109.8 + Record AUM of +$115.8b at March 31, 2025 + Net inflows of $3.0b (11% annualized organic growth rate) across our global product $ billions suite, including fixed income, U.S. equity and international equity product
Slide 4: Revenues and Earnings Results
Revenues and Earnings Results Adjusted revenues, income, operating margin, EPS Notable Items 1 + Q1 adjusted revenues down (-2.2%) as compared to Q4 ‘24 due to two fewer trading Adjusted Revenues 1 Adjusted Net Income (non-GAAP) days and a lower average fee capture, partly offset by higher average A
Slide 5: 2025 Guidance Update
2025 Guidance Update Q1 Updated Prior Overview Category Guidance largely unchanged as compared to the prior quarter. However, WisdomTree is actively Actual Guidance Guidance monitoring the impact of recent market volatility on our AUM. Potential for planned spend to be scaled back to address adverse
Slide 6: WisdomTree's Growth Algorithm
WisdomTree’s Growth Algorithm Ongoing inflow momentum Add ‘stickier’ inflows from as AUM is levered to attractive expanding and deepening investment themes managed model relationships Early mover into tokenization Tap into scale benefits as AUM charts a course for accelerated and revenue growth expa
Slide 7: Expect Deepening Client Engagement will Drive Further AUM Growth in 2025
Expect Deepening Client Engagement will Drive Further AUM Growth in 2025 $120 $110 $100 + In Q1 2025: $90 + WisdomTree was one of the only asset managers to expand AUM quarter-over- $80 quarter, growing ~5.5% since year-end 2024 $70 + We generated over $3b of net inflows, an ~11% pace of annualized
Slide 8: WisdomTree Portfolio Solutions Distribution Strategy
WisdomTree Portfolio Solutions Distribution Strategy + WisdomTree’s ability to deliver strong model performance and asset growth allows the firm to WisdomTree has a barbell approach to portfolio solutions distribution navigate rigorous selection processes at some of the leading wealth management fir
Slide 9: Penetrate Accessible Market to Grow in Model AUA and Model Users in 2025
Penetrate Accessible Market to Grow in Model AUA and Model Users in 2025 Target 35% to 40% Expansion in Model Assets Under Advisement Target 25% to 30% Growth in Model Users (AUA, $ billion) 3,250 $5.2 2,580 $3.8 2,000 $3.1 $2.2 985 2022 2023 2024 2025 2022 2023 2024 2025 Goal Goal + ~$4b of AUA as
Slide 10: Through the Cycle, Organic Growth Accelerates Scale and Expands Operating Margins
Through the Cycle, Organic Growth Accelerates Scale and Expands Operating Margins Illustrative annual AUM and revenue growth algorithm over the long run Organic growth Market return AUM and revenue growth 5%-10% 5%-10% 10%-20% Illustrative margin outlook from scaling AUM and revenues Q1 2025 adjuste
Slide 11: The WisdomTree Digital Assets Platform
The WisdomTree Digital Assets Platform Direct to Retail Direct to Business WisdomTree Prime WisdomTree Connect + Target Audience: U.S. Retail Investors + Target Audience: B2B & B2B2C, Institutions + Delivery: Mobile App + Available to select global investors + Wallet Custody: WisdomTree managed wall
Slide 12: WisdomTree Digital Assets Current Product Pillars
WisdomTree Digital Assets Current Product Pillars Access & Services Exposures B2B(2C) Platform & Digital Funds Crypto Mainstream Retail Financial App: Asset Tokens Services: e.g. WT Government Adoption e.g. WisdomTree Gold Money Market Digital Tokens, ETPs and Token Fund (WTGXX) Indexes Create an ec
Slide 13: Digital Asset Metrics as of Q1 2025
Digital Asset Metrics as of Q1 2025 28,000 2,700 83 Opened Funded Average Daily User Accounts Accounts Transactions in Q1 +8% vs. year-end 2024 +17% vs. year-end 2024 Down due to market volatility $4 million $132 million WisdomTree Total WisdomTree Prime AUM Tokenized AUM +$1 million vs. year-end 20
Slide 14: A Secular Shift Toward Tokenization is Underway and WisdomTree is a Leader
A Secular Shift Toward Tokenization is Underway and WisdomTree is a Leader + Tokenized real world assets (RWA) has Growth of Tokenized Real World Assets vs. ETFs Since First Inception ($ billion) grown from near zero in 2017 to over $200 $10,000 billion in AUM today (mostly stablecoins) + Early grow
Slide 15: Key 2025 Themes
Key 2025 Themes Grow & Diversify Revenue Streams Disciplined Execution + Grow the number of WisdomTree clients and deepen engagement + Generated 73% y/y EPS growth in 2024 and +33% y/y EPS growth in Q1 2025 + Expand models and portfolio solutions footprint + WisdomTree European Defence UCITS ETF bec
Slide 16: Q&A
Q&A WisdomTree – Q1/25 Results 16
Slide 17: Appendix
Appendix WisdomTree – Q1/25 Results 17
Slide 18: AUM and Net Flows
AUM and Net Flows Quarterly ETP AUM Change Q1/25 Net Flows by Category ($ billions) ($ millions) Fixed Income 2,088 2.9 115.8 3.1 U.S. Equity 963 109.8 International Developed 474 Leveraged/Inverse 116 Alternatives 100 Cryptocurrency (89) 12/31/24 Net Market 3/31/25 Commodity & Currency (159) Inflow
Slide 19: Balance Sheet
Balance Sheet Balance Sheet YTD Change in Cash & Securities (1) ($ millions) Mar. 31, Dec. 31, ($ millions) 2025 2024 Assets Cash and financial instruments (1) $255.7 $266.6 6.4 2.5 266.6 Investments 9.2 8.9 255.7 Accounts receivable 46.1 44.9 (12.7) (4.6) (1.9) (0.6) Deferred tax asset, net 5.6 11.
Slide 20: Convertible Notes – Illustrative Impact on Quarterly Diluted Shares
Convertible Notes – Illustrative Impact on Quarterly Diluted Shares Incremental shares issuable when conversion spread is positive are included in diluted EPS computation. Illustrative computation shown below assuming a $12.00 average stock price: Issued 2021 Issued 2023 Issued 2024 $150M Notes $26M
Slide 21: Consolidated Financial Results
Consolidated Financial Results 2024 2025 Q1 Q2 Q3 Q4 Q1 Revenues Advisory fees $ 92,501 $ 98,938 $101,659 $102,264 $ 99,549 Other revenues 4,337 8,096 11,509 8,433 8,533 Total revenues 96,838 107,034 113,168 110,697 108,082 Expenses Compensation and benefits 31,054 30,790 29,405 30,032 33,788 Fund m
Slide 22: Non-GAAP Financial Measurements
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 eva
Slide 23: Non-GAAP Reconciliation to GAAP Results
Non-GAAP Reconciliation to GAAP Results Three Months Ended Three Months Ended ($ in thousands) Mar. 31 Dec. 31 Sept. 30 June 30 Mar. 31 ($ in thousands) Mar. 31 Dec. 31 Sept. 30 June 30 Mar. 31 Unaudited 2025 2024 2024 2024 2024 Unaudited 2025 2024 2024 2024 2024 Adjusted net income and diluted earn
Slide 24: Reconciliation of US GAAP to Non-GAAP results – Q1 2025
Reconciliation of US GAAP to Non-GAAP results – Q1 2025 QTD Mar. Imputed Losses on Gain on DTA Val. Windfall Tax US GAAP Interest Securities Inv. Allowance Benefits Non-GAAP Revenues Advisory fees $ 99,549 $ - $ - $ - $ - $ - $ 99,549 Other revenues 8,533 - - - - - 8,533 Total revenues 108,082 - - -
Slide 25: Thank you.
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