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, July 31, 2026--(BUSINESS WIRE)--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.
$0.03 quarterly dividend declared, payable on August 26, 2026 to stockholders of record as of the close of business on August 12, 2026.
Update from Jarrett Lilien, WisdomTree President and COO
"The second quarter demonstrated the quality of WisdomTree's growth. Our sixth consecutive quarter of record assets under management reflects momentum that is broad-based across regions, asset classes and client segments—not dependent on any single product, market or geography. That breadth, combined with continued operating discipline, positions WisdomTree to continue delivering sustainable organic growth and margin expansion." |
Update from Jonathan Steinberg, WisdomTree CEO
"This was another excellent quarter for WisdomTree and a reflection of the diversified business we've spent the past two decades building. As we celebrate our twentieth anniversary, we've evolved from an ETF pioneer into a modern global asset manager spanning ETFs, private markets, liquid alternatives and tokenized financial infrastructure. Our vision has remained remarkably consistent, even as the opportunities in front of us have expanded. We believe we're still in the early innings of what this platform can become, and we're excited about the opportunities ahead." |
OPERATING AND FINANCIAL HIGHLIGHTS
Three Months Ended | |||||||||||||||
June 30, | Mar. 31, | Dec. 31, | Sept. 30, | June 30, | |||||||||||
Consolidated Operating Highlights ($ 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 Product News |
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, | ||||||||||||||||||||||
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 | $ | ... |