Wealthfront Corporation · NASDAQ:WLTH
Wealthfront — Q1 2027 Earnings Presentation
20 slides from Wealthfront's earnings presentation, Jun 4, 2026
Slide 1: Earnings Presentation Q1 2027
Earnings Presentation Q1 2027
Slide 2: Disclaimer
Disclaimer Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements contained in this presentation other than statements of historical fact, including statements regarding our future op
Slide 3: Q1 2027 Business Update
Q1 2027 Business Update Launched Cross-Product Adoption Incentive C2026-TD Released an incentive in early March in which clients that direct deposit at least $1,000 per month as well Cross-Product Adoption as fund an investment account receive an ongoing 25 basis point increase to their Cash Account
Slide 4: Total Platform Assets
Total Platform Assets • Record month-end Investment Advisory Total Platform Assets of Cash Management $96.6 billion were up (in $ B) 19% year-over-year (YoY). This included trailing twelve-month net deposits of $5.4 billion. +19% • Investment Advisory $94.1 $96.6 Assets of $51.7 billion $92.8 were u
Slide 5: Total Net Deposits
Total Net Deposits • Wealthfront realized $0.6 billion in net inflows across the platform in Q1 (in $ B) 2027 driven by Investment Advisory net inflows of $1.0 billion. • Cash Management net withdrawals of $0.5 billion included $577 $3.7 million in net withdrawals in April due to tax seasonality. Th
Slide 6: Total Funded Accounts & Funded Clients
Total Funded Accounts & • Funded accounts ended Ending Total Funded Accounts the quarter at 1.90 Ending Total Funded million, up 15% YoY, with Funded Clients (in 000s) Clients funded clients of roughly 1.46 million, also up 15% YoY, reflecting 1.3 funded +15% accounts per funded 1,900 client. 1,843
Slide 7: Total Revenue & Gross Profit
Total Revenue & Gross profit margin Cost of Revenue Adjusted Operating Gross Profit (in $ M) Gross profit Expenses (in $ M) $93.2 $96.1 +7% $91.1 $90.5 $84.5 $86.6 $81.5 $83.0 $80.5 +16% $75.8 +6% $53.7 $57.1 $58.0 90% $50.0 $50.3 90% 89% 89% 89% Q1’26 Q2’26 Q3’26 Q4’26 Q1’27 Q1’26 Q2’26 Q3’26 Q4’26
Slide 8: Adj. EBITDA & Adj. EBITDA Margin
Adj. EBITDA (in $ M) Adjusted EBITDA margin GAAP Diluted GAAP Diluted EPS Adjusted EBITDA GAAP Diluted net & Adj. EBITDA Margin (in %) Net Income (Loss) (in $ M) income (loss) & GAAP Diluted EPS (in $) $44.8 $43.8 $44.2 $25.9 $34.7 $30.9 (1)% $37.9 $37.5 $12.8 $0.18 $0.24 $0.21 $0.07 49% 47% 46% 45%
Slide 9: Rule of 40
Rule of 40 Revenue growth (in ppt) Adjusted Free Cash Flow ($ M) Adjusted free cash flow (in Percentage Points) Adjusted EBITDA margin (in ppt) Adjusted Free Cash Flow conversion Adjusted free cash flow Conversion (in %) 69 67 $42.7 $42.3 63 62 $38.8 $39.5 24 18 16 $34.2 16 49 114% 112% 7 LTM FCF co
Slide 10: Corporate Liquidity
• Commenced share repurchase Revolving credit Corporate Liquidity program, purchasing $27 facility (untapped) million of shares in the open Corporate cash & market during Q1 2027. (in $ M) cash equivalents • Ended the quarter at $428 million in corporate cash & cash equivalents, which excludes rough
Slide 11: Appendix
Appendix
Slide 12: Income Statement
Income Statement (in $ thousands excluding EPS and shares) Q1’26 Q2’26 Q3’26 Q4’26 Q1’27 Revenue: Cash management 64,266 68,873 68,812 69,749 63,381 Investment advisory 19,874 22,040 24,182 25,803 26,244 Other revenue 374 210 226 584 859 Total revenue 84,514 91,123 93,220 96,136 90,484 Costs and ope
Slide 13: Gross Profit
Gross Profit (in $ thousands unless otherwise noted) Q1’26 Q2’26 Q3’26 Q4’26 Q1’27 Total revenue 84,514 91,123 93,220 96,136 90,484 Less: Cost of revenue 8,668 9,587 10,178 9,574 9,964 Gross profit 75,846 81,536 83,042 86,562 80,520 Gross profit margin (in %) 90 % 89 % 89 % 90 % 89 % 13
Slide 14: Non-GAAP Reconciliation: Adjusted Free Cash Flow
Non-GAAP Reconciliation: Adjusted Free Cash Flow (in $ thousands unless otherwise noted) Q1’26 Q2’26 Q3’26 Q4’26 Q1’27 Net cash provided by operating activities 38,481 38,924 41,478 33,306 22,683 Divided by: Net income 25,947 34,741 30,901 (133,655) 12,834 Operating cash flow conversion 148 % 112 %
Slide 15: Non-GAAP Reconciliation: Expense Detail
Non-GAAP Reconciliation: Expense Detail (in $ thousands unless otherwise noted) Q1’26 Q2’26 Q3’26 Q4’26 Q1’27 GAAP operating expenses 51,880 51,843 61,784 310,656 75,936 Less: Stock-based compensation expense 1,879 1,571 8,088 248,288 17,053 Less: Employer payroll taxes on IPO-triggered vesting of e
Slide 16: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation: Adjusted EBITDA (in $ thousands unless otherwise noted) Q1’26 Q2’26 Q3’26 Q4’26 Q1’27 Net income (loss) 25,947 34,741 30,901 (133,655) 12,834 Net margin (in %) 31 % 38 % 33 % (140)% 14 % Add: Interest expense 67 99 217 508 252 Provision for (benefit from) income taxes 8,164
Slide 17: Key Business Metrics (1 of 2)
Key Business Metrics (1 of 2) (in $ millions unless otherwise noted) Q1’26 Q2’26 Q3’26 Q4’26 Q1’27 Platform assets $ 80,858 $ 88,175 $ 92,821 $ 94,106 $ 96,600 Cash management 43,774 46,579 47,011 45,360 44,883 Investment advisory 37,085 41,596 45,810 48,745 51,718 Net deposits $ 1,790 $ 3,662 $ 1,5
Slide 18: Key Business Metrics (2 of 2)
Key Business Metrics (2 of 2) (in $ millions unless otherwise noted) Q1’26 Q2’26 Q3’26 Q4’26 Q1’27 Cash management assets (off-balance sheet), beginning of the period 42,411 43,774 46,579 47,011 45,360 Cash management assets (off-balance sheet), end of the period 43,774 46,579 47,011 45,360 44,883 A
Slide 19: Illustrative GAAP Diluted Weighted-Average Shares Outstanding Sensitivity
Illustrative GAAP Diluted Weighted-Average Shares Outstanding Sensitivity Illustrative for F1Q27 Assumed Average Share Price (shares in millions) ACTUAL $9.36 175.5 NOTE: The GAAP diluted weighted-average shares outstanding and $10.00 176.5 assumed share prices provided in this table are being provi
Slide 20: Definitions
Definitions Key Business Metrics Platform assets: We define “platform assets” as the total value of financial assets held by clients in their accounts as of a stated date on our platform. Net deposits and changes in value attributable to financial market performance are included in the change in pla