WisdomTree Announces Third Quarter 2026 Results

“Our third quarter results reflect the continued strength and scalability of WisdomTree’s business, with record AUM of $171 billion, $4.6 billion of net inflows and meaningful contributions across our global platform. The breadth and consistency of our organic growth, coupled with expanding distribution capabilities and continued operating discipline, are driving significant operating leverage and margin expansion. As we deepen our presence in existing markets and capitalize on new opportunities across liquid alternatives, private markets and tokenization, we remain focused on executing our proven playbook: generating high-quality organic growth, scaling efficiently and translating that momentum into greater earnings power.”

“WisdomTree continues to evolve into a truly modern global asset manager, strategically positioned at the intersection of three powerful transformations in financial services: the democratization of investing, the convergence of public and private markets, and the tokenization of financial assets. After more than two decades of strategic reinvestment, we have built differentiated capabilities across each of these areas, and we believe the greatest opportunity lies in bringing them together into one integrated investment ecosystem. Combined with our highly efficient and scalable operating model, we believe WisdomTree is well positioned to drive sustained growth and create significant long-term value for stockholders.”

Three Months Ended

Sept. 30,
2026

June 30,
2026

Mar. 31,
2026

Dec. 31,
2025

Sept. 30,
2025

Consolidated Operating Highlights ($ in billions):

AUM—end of period

$

171.0

$

162.9

$

152.6

$

144.5

$

137.2

Net inflows/(outflows)

$

4.6

$

3.1

$

5.9

$

(0.3

)

$

2.2

Average AUM

$

170.5

$

164.2

$

154.7

$

140.7

$

130.8

Average advisory fee

0.36%

0.36%

0.36%

0.35%

0.35%

Revenue yield⁽²⁾

0.42%

0.43%

0.42%

0.42%

0.38%

Consolidated Financial Highlights ($ in millions, except per share amounts):

Operating revenues

$

179.4

$

177.2

$

159.5

$

147.4

$

125.6

Net income/(loss)

$

49.2

$

44.3

$

(23.1

)

$

40.0

$

19.7

Diluted earnings/(loss) per share

$

0.32

$

0.28

$

(0.17

)

$

0.28

$

0.13

Operating income margin

41.3%

40.5%

37.2%

40.5%

36.3%

As Adjusted (Non-GAAP⁽¹⁾):

Operating revenues, as adjusted

$

179.4

$

177.2

$

159.5

$

147.4

$

125.6

Gross margin

83.0%

82.9%

84.4%

83.2%

82.2%

Net income, as adjusted

$

49.5

$

48.1

$

40.6

$

41.2

$

34.5

Diluted earnings per share, as adjusted

$

0.32

$

0.31

$

0.27

$

0.29

$

0.23

Operating income margin, as adjusted

43.1%

42.6%

39.3%

41.7%

38.3%

Company News

• In September,
  • WisdomTree completed the rebrand of Atlantic House’s fund and structured solutions business following WisdomTree’s recent acquisition of Atlantic House in May 2026;
  • WisdomTree and MoonPay entered into a strategic agreement to expand U.S. investor access to tokenized funds, including the WisdomTree Treasury Money Market Digital Fund (WTGXX), and to support stablecoin reserves by making WTGXX more accessible to everyday investors through MoonPay; and
  • WisdomTree introduced WisdomTree Onchain™, bringing its tokenized funds, onchain infrastructure and platforms for individual and institutional investors under one name.
• In September and October, WisdomTree won the following awards:
  • Luba Spear was named “CMO of the Year” at the 2026 Wealth Management Industry Awards;
  • four WisdomTree leaders were recognized on INvolve’s 2026 ‘Heroes Role Model Lists supported by YouTube;’
  • the WisdomTree Enhanced Commodity UCITS ETF (WCOA) was the winner in the Commodity ETFs category at the Swiss ETF Awards 2026;
  • received the “M&A Deal of the Year” award for our acquisition of Ceres Partners, LLC at the 2026 Asset Management STAR Awards North America.
• In October,
  • WisdomTree and BitGo entered into an agreement to bring tokenized Treasury yield, liquidity and collateral capabilities to institutional investors directly on the BitGo platform. Eligible BitGo clients can access WTGXX without leaving the platform, putting idle cash to work while maintaining 24/7 liquidity and settlement capabilities; and
  • WisdomTree and Return Stacked^® ETFs entered into a strategic relationship to deliver co-branded, capital-efficient model portfolios through the Quorus implementation platform. The collaboration combines WisdomTree’s portfolio construction expertise with Return Stacked ETFs’ institutional-style diversifying strategies, helping financial advisors integrate alternative sources of return alongside core stock and bond exposures through a scalable portfolio framework.

Product News

• In August, September and October, WisdomTree launched the following products:
  • In the U.S., we launched the WisdomTree Efficient Long/Short U.S. SmallCap Equity Fund (WSLS) and the WisdomTree Global Alpha Fund (WTAL), both powered by AlphaBeta and listed on the Texas Stock Exchange (TXSE).
  • During the same period, in Europe, we launched the WisdomTree Enhanced Commodity UCITS ETF – GBP Hedged (WCOM), WisdomTree Physical Silver – EUR Daily Hedged (AGSE), WisdomTree Physical Silver – GBP Daily Hedged (PAGP), WisdomTree Defined Return Autocallable EUR Active UCITS ETF (DRTN) and WisdomTree Defensive Defined Return Autocallable EUR Active UCITS ETF (DRTD). The latter two ETFs – the first actively managed autocallable ETFs in Europe – leverage the investment team that joined WisdomTree through the Atlantic House acquisition. These ETFs are listed on major European exchanges, including the London Stock Exchange, Börse Xetra and Borsa Italiana. We also launched the WisdomTree Tail Risk Fund.

WISDOMTREE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(Unaudited)

Three Months Ended

Nine Months Ended

Sept. 30,
2026

June 30,
2026

Mar. 31,
2026

Dec. 31,
2025

Sept. 30,
2025

Sept. 30,
2026

Sept. 30,
2025

Operating Revenues:

Advisory fees

$

151,631

$

146,300

$

134,880

$

122,712

$

114,485

$

432,811

$

317,275

Management fees

5,420

5,369

5,231

4,908

—

16,020

—

Performance fees

3,778

5,964

2,955

7,105

—

12,697

—

Other revenues

18,546

19,527

16,404

12,709

11,131

54,477

29,044

Total revenues

179,375

177,160

159,470

147,434

125,616

516,005

346,319

Operating Expenses:

Compensation and benefits

44,770

43,718

47,517

37,273

33,791

136,005

100,406

Fund management and administration

30,532

30,229

24,880

24,830

22,353

85,641

64,319

Marketing and advertising

5,426

6,041

5,392

5,613

4,788

16,859

14,931

Sales and business development

4,820

4,938

4,197

4,045

3,943

13,955

12,312

Professional fees

4,263

4,098

3,308

3,596

3,505

11,669

9,464

Occupancy, communications and equipment

2,620

2,229

1,935

1,892

1,601

6,784

4,642

Depreciation and amortization

4,028

3,415

2,096

2,043

615

9,539

1,735

Third-party distribution fees

5,334

5,401

5,795

4,772

3,977

16,530

11,172

Acquisition-related costs

—

1,118

1,933

317

2,409

3,051

4,376

Other

3,460

4,162

3,067

3,306

2,980

10,689

8,514

Total operating expenses

105,253

105,349

100,120

87,687

79,962

310,722

231,871

Operating income

74,122

71,811

59,350

59,747

45,654

205,283

114,448

Other Income/(Expenses):

Interest expense

(13,520

)

(14,852

)

(11,023

)

(11,023

)

(8,466

)

(39,395

)

(19,397

)

Interest income

1,841

3,203

2,592

2,965

4,015

7,636

8,002

Loss on repurchase of convertible notes

—

(6,623

)

(62,302

)

(833

)

(13,011

)

(68,925

)

(13,011

)

Remeasurement of contingent consideration

2,069

(1,360

)

(2,562

)

(710

)

—

(1,853

)

—

Other losses and gains, net

(35

)

6,368

(637

)

317

1,325

5,696

1,713

Income/(loss) before income taxes

64,477

58,547

(14,582

)

50,463

29,517

108,442

91,755

Income tax expense

15,261

14,263

8,549

10,437

9,816

38,073

22,648

Net income/(loss)

$

49,216

$

44,284

$

(23,131

)

$

40,026

$

19,701

$

70,369

$

69,107

Earnings/(loss) per share—basic

$

0.33

$

0.30

$

(0.17

)

$

0.29

$

0.14⁽⁴

⁾

$

0.49

$

0.48

Earnings/(loss) per share—diluted

$

0.32

$

0.28

$

(0.17

)

$

0.28

$

0.13⁽⁴

⁾

$

0.46

$

0.47

Weighted average common shares—basic

147,570

149,001

138,005

136,340

139,584

144,894

141,736

Weighted average common shares—diluted

156,179

156,276

138,005

143,314

150,675

153,767

146,360

As Adjusted (Non-GAAP⁽¹⁾)

Total revenues

179,375

177,160

159,470

147,434

125,616

Total operating expenses

102,032

101,619

96,752

85,936

77,553

Operating income

77,343

75,541

62,718

61,498

48,063

Income before income taxes

65,679

63,354

54,654

53,840

45,318

Income tax expense

16,199

15,274

14,061

12,605

10,842

Net income

49,480

48,080

40,593

41,235

34,476

Earnings per share—diluted

0.32

0.31

0.27

0.29

0.23

Weighted average common shares—diluted

156,179

156,276

152,372

143,314

150,675

⁽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 $7.3 million for the nine months ended September 30, 2026 (none in the prior year period) and acquisition-related costs of $3.1 million and $4.4 million for the nine months ended September 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 $0.7 million 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.

WISDOMTREE, INC. AND SUBSIDIARIES
KEY OPERATING STATISTICS
(Unaudited)

Three Months Ended

Sept. 30,
2026

June 30,
2026

Mar. 31,
2026

Dec. 31,
2025

Sept. 30,
2025

GLOBAL PRODUCTS ($ in millions)

Beginning of period assets

$

162,910

$

152,556

$

144,525

$

137,175

$

126,070

Add: Assets acquired—Ceres acquisition

—

—

—

1,812

—

Add: Assets acquired—Atlantic House acquisition

—

4,137

—

—

—

Inflows/(outflows)

4,622

3,063

5,934

(283

)

2,241

Market appreciation

3,453

3,154

2,097

5,821

8,864

End of period assets

$

170,985

$

162,910

$

152,556

$

144,525

$

137,175

Average assets during the period

$

170,504

$

164,150

$

154,654

$

140,686

$

130,760

Average ETPs and tokenized products during the period

$

168,466

$

162,151

$

152,716

$

138,871

$

130,760

Average ETP advisory fee during the period

0.36%

0.36%

0.36%

0.35%

0.35%

Total revenue yield

0.42%

0.43%

0.42%

0.42%

0.38%

Revenue days

92

91

90

92

92

Number of products—end of the period

434

428

414

405

397

ETPs AND ONCHAIN PRODUCTS

U.S. LISTED ETFs ($ in millions)

Beginning of period assets

$

99,014

$

90,946

$

88,521

$

88,293

$

85,179

Inflows/(outflows)

2,382

1,079

2,643

(1,108

)

(445

)

Market appreciation/(depreciation)

240

6,989

(218

)

1,336

3,559

End of period assets

$

101,636

$

99,014

$

90,946

$

88,521

$

88,293

Average assets during the period

$

101,620

$

96,585

$

91,742

$

88,074

$

87,205

Number of ETFs—end of the period

93

92

90

85

84

EUROPEAN LISTED ETPs ($ in millions)

Beginning of period assets

$

61,106

$

58,758

$

53,345

$

48,290

$

40,541

Add: Assets acquired—Atlantic House acquisition

—

4,137

—

—

—

Inflows

1,731

2,090

3,118

609

2,448

Market appreciation/(depreciation)

3,184

(3,879

)

2,295

4,446

5,301

End of period assets

$

66,021

$

61,106

$

58,758

$

53,345

$

48,290

Average assets during the period

$

65,874

$

64,649

$

60,193

$

50,102

$

42,853

Number of ETPs—end of the period

320

315

304

300

295

ONCHAIN AUM ($ in millions)

Beginning of period assets

$

761

$

867

$

770

$

592

$

350

Inflows/(outflows)

509

(110

)

98

179

238

Market appreciation/(depreciation)

3

4

(1

)

(1

)

4

End of period assets

$

1,273

$

761

$

867

$

770

$

592

Average assets during the period

$

972

$

917

$

781

$

695

$

702

Number of products—end of the period

19

19

19

19

18

PRIVATE ASSETS ($ in millions)

Beginning of period assets

$

2,029

$

1,985

$

1,889

$

—

$

—

Add: Assets acquired—Ceres acquisition

—

—

—

1,812

—

Inflows

—

4

75

37

—

Market appreciation

26

40

21

40

—

End of period assets

$

2,055

$

2,029

$

1,985

$

1,889

$

—

Average assets during the period

$

2,038

$

1,999

$

1,938

$

1,815

$

—

Number of products—end of the period

2

2

1

1

—

ETPs AND ONCHAIN PRODUCT CATEGORIES ($ in millions)

U.S. Equity

Beginning of period assets

$

46,371

$

41,511

$

41,427

$

40,977

$

38,617

Inflows

769

458

354

191

32

Market appreciation/(depreciation)

57

4,402

(270

)

259

2,328

End of period assets

$

47,197

$

46,371

$

41,511

$

41,427

$

40,977

Average assets during the period

$

47,740

$

44,884

$

42,394

$

41,161

$

40,024

Commodity & Currency

Beginning of period assets

$

37,586

$

40,310

$

36,980

$

31,705

$

26,696

Inflows

1,009

1,890

35

177

1,096

Market appreciation/(depreciation)

2,497

(4,614

)

3,295

5,098

3,913

End of period assets

$

41,092

$

37,586

$

40,310

$

36,980

$

31,705

Average assets during the period

$

41,206

$

41,749

$

41,458

$

33,824

$

28,162

International Developed Market Equity

Beginning of period assets

$

32,219

$

29,186

$

25,616

$

23,893

$

21,725

(Outflows)/inflows

(135

)

749

3,495

1,147

478

Market appreciation

422

2,284

75

576

1,690

End of period assets

$

32,506

$

32,219

$

29,186

$

25,616

$

23,893

Average assets during the period

$

32,909

$

32,022

$

29,349

$

24,708

$

22,481

Fixed Income

Beginning of period assets

$

22,658

$

22,395

$

21,074

$

22,509

$

22,543

Inflows/(outflows)

2,719

320

1,272

(1,358

)

(58

)

Market (depreciation)/appreciation

(200

)

(57

)

49

(77

)

24

End of period assets

$

25,177

$

22,658

$

22,395

$

21,074

$

22,509

Average assets during the period

$

23,862

$

22,179

$

21,187

$

21,422

$

23,128

Emerging Market Equity

Beginning of period assets

$

11,279

$

10,143

$

10,643

$

10,855

$

10,957

Outflows

(106

)

(106

)

(206

)

(508

)

(250

)

Market (depreciation)/appreciation

(80

)

1,242

(294

)

296

148

End of period assets

$

11,093

$

11,279

$

10,143

$

10,643

$

10,855

Average assets during the period

$

11,248

$

11,188

$

10,902

$

10,839

$

10,874

Alternatives

Beginning of period assets

$

5,708

$

1,580

$

1,379

$

1,155

$

814

Add: Assets acquired—Atlantic House acquisition

—

4,137

—

—

—

Inflows

52

31

207

163

231

Market appreciation/(depreciation)

92

(40

)

(6

)

61

110

End of period assets

$

5,852

$

5,708

$

1,580

$

1,379

$

1,155

Average assets during the period

$

5,865

$

4,462

$

1,620

$

1,270

$

929

Leveraged & Inverse

Beginning of period assets

$

3,464

$

3,663

$

3,275

$

2,913

$

2,631

Inflows/(outflows)

272

(354

)

565

(15

)

(52

)

Market (depreciation)/appreciation

(102

)

155

(177

)

377

334

End of period assets

$

3,634

$

3,464

$

3,663

$

3,275

$

2,913

Average assets during the period

$

3,665

$

3,772

$

3,785

$

3,097

$

2,750

Cryptocurrency

Beginning of period assets

$

1,596

$

1,783

$

2,242

$

3,168

$

2,087

Inflows/(outflows)

42

71

137

(117

)

764

Market appreciation/(depreciation)

741

(258

)

(596

)

(809

)

317

End of period assets

$

2,379

$

1,596

$

1,783

$

2,242

$

3,168

Average assets during the period

$

1,971

$

1,895

$

2,021

$

2,550

$

2,412

Headcount

438

414

357

360

338