Wisdomtree, Inc. · NYSE:WT
Wisdomtree — Q3 2026 Earnings Presentation
31 slides from Wisdomtree's earnings presentation, Oct 30, 2026
Slide 1: Q3 2026 Results
Q3 2026 Results October 30, 2026 WisdomTree – Q3/26 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: Q3 Highlights
Q3 Highlights Total AUM $171.0B $4.6B 13% $137.2B $144.5B $152.6B $162.9B $171.0B $171.0B Record AUM Q3 net inflows Annualized organic Sept. 30, 2026 $13.6B year to date growth, year to date AUM BY REGION U.S. $101.6B Record Europe $66.0B Record Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Q4/26 QTD Onchain $1.3B
Slide 4: Revenues and Earnings Results
Revenues and Earnings Results Revenues and earnings by quarter Nine months 2026 vs. Nine months 2025 $177.2M $179.4M Revenues $147.4M $159.5M +49% +81% +750 bps Operating, $M Operating revenues Adj. operating income Adjusted operating margin $125.6M $516.0M vs. $346.3M $215.6M vs. $118.8M expansion
Slide 5: 2026 Guidance
2026 Guidance WHAT CHANGED Category YTD Sept. actual Updated guidance Previous guidance Compensation / revenue 26.4% 26%–28% Unchanged • Discretionary spending: high end of the range cut by $2M Gross margin 83.4% 83%–84% Unchanged • Third-party distribution: range narrowed to $21M–$23M; $16.5M recog
Slide 6: Three Growth Pillars on One Efficient Operating Model
Three Growth Pillars on One Efficient Operating Model How WisdomTree is building the modern global asset manager 0 1 S CAL E T OD AY 0 2 E X P AN D N E X T 0 3 B U IL D FOR T HE FU T U RE PUBLIC MARKETS PRIVATE MARKETS TOKENIZATION Democratization of investing globally Bringing private value creatio
Slide 7: Through the Cycle, Three Drivers Compound Into Long-Term EPS Growth
OPERATE EFFICIENTLY Through the Cycle, Three Drivers Compound Into Long-Term EPS Growth 1 TOP-LINE MOMENTUM 2 OPERATING LEVERAGE 3 PER-SHARE AMPLIFICATION Drives revenue growth Converts revenue into Turns higher operating income into accelerated operating income higher EPS MATERIAL MARGIN SYSTEMATIC
Slide 8: Adjusted EPS Grew 3.3x From 2022 to 2025 While AUM Grew 1.7x
OPERATE EFFICIENTLY Adjusted EPS Grew 3.3x From 2022 to 2025 While AUM Grew 1.7x $171B $143B $110B Total AUM $82B $100B ~50% Adjusted EPS CAGR, 2022 to 2025 Year end Adjusted EPS growth, 2022 to 2025, on 1.7x 2022 2023 2024 2025 YTD 2026 3.3x AUM growth $0.86 $0.90 $0.64 Adjusted YTD 2026 adjusted E
Slide 9: Net Inflows Built More Than Half of WisdomTree's AUM
PUBLIC MARKETS Net Inflows Built More Than Half of WisdomTree's AUM $170 CLIENT ENGAGEMENT REMAINS STRONG $160 $150 We continue to focus on the building blocks of future $140 organic flows: $130 $120 • More clients: increasing the number of clients using WisdomTree $110 products $100 • More products
Slide 10: AUM Is Diversified by Asset Class
PUBLIC MARKETS AUM Is Diversified by Asset Class Liquid Series2 Alternatives Private Assets Other Commodities U.S. Equity Equity Metals $171 Billion Int'l Developed Floating Equity Rate E.M. Treasury Equity Fixed Income & Currency Data as of September 30, 2026, see ir.wisdomtree.com for greater deta
Slide 11: Flows Are Broad-Based, Drawn From a Deep Bench of Funds
PUBLIC MARKETS Flows Are Broad-Based, Drawn From a Deep Bench of Funds Different funds lead each quarter: on average ~9 of the top 15 flow-gathering funds are new entrants vs. the prior quarter Rank / 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 Qua
Slide 12: Portfolio Solutions AUA Has Grown 4.5x Since 2022 to $10B
PUBLIC MARKETS Portfolio Solutions AUA Has Grown 4.5x Since 2022 to $10B OUR MODEL DISTRIBUTION STRATEGY IS TWOFOLD Portfolio Solutions assets under advisement (AUA) 1. Grow the number of advisors using WisdomTree model portfolios, and keep expanding at our large distribution partners 2. Use our cus
Slide 13: Atlantic House Positions WisdomTree to Lead in Liquid Alternatives
PUBLIC MARKETS Atlantic House Positions WisdomTree to Lead in Liquid Alternatives Acquisition closed in early May 2026 01 THE OPPORTUNITY 02 WHAT THE DEAL BRINGS 03 HOW WE'RE EXECUTING Liquid alternatives are a 2 Defined-outcome, derivatives ETPs Faster product innovation and launches nascent market
Slide 14: Farmland Has Paired Strong Returns With Low Volatility and Low Correlation
PRIVATE MARKETS Farmland Has Paired Strong Returns With Low Volatility and Low Correlation 20-Year Risk/Return Analysis of Various Asset Classes 16% 1 Historically Strong Returns with Low Volatility Average Annual Returns 12% Rowcrop Equities Gold Farmland 8% REITs Timber 4% Strong Income Generation
Slide 15: Ceres Has Beaten the Farmland Index Over Every Period, Net of Fees
PRIVATE MARKETS Ceres Has Beaten the Farmland Index Over Every Period, Net of Fees Trailing annual total returns, net of fees, as of September 30, 2026 ~$2.1B 10.1% 10.6% 10.1% Ceres AUM Annual net return since 9.7% inception in 2007 9.3% 8.9% 8.3% CERES PARTNERS AT A GLANCE 8.0% 7.4% • U.S. row cro
Slide 16: Onchain Is Scaling: Record AUM and 22x Connect User Growth
TOKENIZATION Onchain Is Scaling: Record AUM and 22x Connect User Growth Q3 2026 HIGHLIGHTS $1.3B 3,957 • Industry buildout of stablecoin and wallet infrastructure • Strong inflows in Q3 in WTGXX – partly seasonal Record tokenized AUM Active wallets holding WisdomTree • Focus on distribution partners
Slide 17: WisdomTree Onchain: Built in-house, end to end
TOKENIZATION WisdomTree Onchain : Built in-house, end to end Registered funds on a fully regulated stack, serving a growing range of clients and use cases Individual investors Businesses Institutions …AND THE AI AGENTS ACTING ON THEIR BEHALF WHO WE SERVE USE CASES Onchain asset allocation & investin
Slide 18: Expanding distribution through a growing network of platforms and partners
TOKENIZATION Expanding distribution through a growing network of platforms and partners OWNED DISTRIBUTION CHANNELS REGULATED DISTRIBUTORS Our own platforms, direct to clients Third-party banks or broker-dealers are the regulated intermediary WisdomTree Prime® BitGo App for individual investors OCC-
Slide 19: A Secular Shift Toward Tokenization is Underway and WisdomTree is a Leader
TOKENIZATION A Secular Shift Toward Tokenization is Underway and WisdomTree is a Leader Tokenized assets are growing faster than ETFs did at the same age THE MARKET AUM BY YEARS SINCE FIRST PRODUCT LAUNCH, ETFS VS. TOKENIZED RWA Tokenized real-world assets $15T $500B From near zero in 2017, mostly $
Slide 20: WisdomTree: Building the Modern Global Asset Manager
WisdomTree: Building the Modern Global Asset Manager Three transformations. One integrated platform. One efficient operating model PUBLIC MARKETS Democratization of investing globally Modern Alpha since our Enhancing alpha with AI Atlantic House: liquid alts, PUBLIC PRIVATE first 20 ETFs and unique
Slide 21: Q&A
Q&A WisdomTree – Q3/26 Results 21
Slide 22: Appendix
Appendix WisdomTree – Q3/26 Results 22
Slide 23: Balance Sheet and AUM Update
Balance Sheet and AUM Update Balance Sheet ($ millions) Sept. 30, Dec. 31, 2026 2025 Quarterly ETP AUM Change Assets ($ billions) Cash and financial instruments $340.7 $418.8 3.5 0.0 171.0 Investments 31.7 29.1 4.6 Accounts receivable 72.7 64.5 162.9 Deferred tax asset, net 0.0 9.8 Fixed assets, net
Slide 24: 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 $23.00 average stock price: Issued 2025 Issued 2026 $475M Notes $604M Notes (203
Slide 25: Consolidated Financial Results
Consolidated Financial Results 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Revenues Advisory fees $ 99,549 $103,241 $114,485 $122,712 $134,880 $146,300 $151,631 Management fees -- -- -- 4,908 5,231 5,369 5,420 Performance fees -- -- -- 7,105 2,955 5,964 3,778 Other revenues 8,533 9,380 11,131 12,709 16,404 19,52
Slide 26: Non-GAAP Financial Measurements
Non-GAAP Financial Measurements In an effort to provide additional information regarding our results as determined by GAAP, we also disclose certain non-GAAP information which we believe provides useful and meaningful information. Our management reviews these non-GAAP financial measurements when eva
Slide 27: Non-GAAP Reconciliation to GAAP Results
Non-GAAP Reconciliation to GAAP Results ($ in thousands) Unaudited Sept. 30 2026 2026 Three Months Ended June 30 Mar. 31 2026 Dec. 31 2025 Sept. 30 2025 Three Months Ended Adjusted Total Operating Expenses ($ in thousands) Sept. 30 June 30 Mar. 31 Dec. 31 Sept. 30 2026 2026 2026 2025 2025 Total oper
Slide 28: Non-GAAP Reconciliation to GAAP Results (continued)
Non-GAAP Reconciliation to GAAP Results (continued) Nine Months Years Ending ($ in thousands) Sept. 30 Dec. 31 Dec. 31 Dec. 31 Dec. 31 ($ in thousands) Sept. 30 Dec. 31 Dec. 31 Dec. 31 Dec. 31 Unaudited 2026 2025 2024 2023 2022 Unaudited 2026 2025 2024 2023 2022 Adjusted net income and diluted earni
Slide 29: Reconciliation of US GAAP to Non-GAAP results – Q3 2026
Reconciliation of US GAAP to Non-GAAP results – Q3 2026 Intangible Remeasure QTD September Amortization Contingent DTA Val. Imputed Fx Remeasure Gain on Gain on US GAAP Acquisitions Consideration Allowance Interest USD Securities Inv. Non-GAAP Revenues Advisory fees $ 151,631 $ - $ - $ - $ - $ - $ -
Slide 30: Reconciliation of US GAAP to Non-GAAP results – YTD September 2026
Reconciliation of US GAAP to Non-GAAP results – YTD September 2026 Intangible Fx Gains Remeasure YTD Sept. Loss on Amortization Windfall Tax GBP Held Acquisition DTA Val. Gain on Contingent Imputed Fx Remeasure Loss on US GAAP Extinguish Acquisitions Benefits AH Acquisition Costs Allowance Securitie
Slide 31: Thank you.
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