WisdomTree Announces Third Quarter 2026 Results
WisdomTree, Inc. (WT) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 WisdomTree Announces Third Quarter 2026 Results Record AUM of $171.0 Billion Diluted Earnings Per Share of $0.32 Over $13.6 Billion of Net Inflows Year-to-Date, a 13% Annualized Organic Growth Rate Operating Margin Expanded by 680 bps Year over Year; or 750 bps, on a
How this was made
The 30-second read
Why it matters
The earnings release provides fresh data on AUM growth, net inflows, and margin expansion, offering a clear trading catalyst.
Market read
First‑report earnings with record AUM and inflows create a high‑impact, actionable event for traders.
What to watch
The modest 0.42% revenue yield decline and lower transaction fees from European ETPs may temper upside.
WisdomTree Announces Third Quarter 2026 Results Record AUM of $171.0 Billion Diluted Earnings Per Share of $0.32 Over $13.6 Billion of Net Inflows Year-to-Date, a 13% Annualized Organic Growth Rate Operating Margin Expanded by 680 bps Year over Year; or 750 bps, on an Adjusted Basis
Third-quarter operating revenues increased 42.8% year over year and 1.3% sequentially, supported by higher average AUM, a higher average advisory fee, acquisition-related revenues and European listed ETP other revenues. Record ending AUM, $4.6 billion of inflows, and expansion in GAAP and adjusted operating margins accompanied substantially higher net income and diluted EPS.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| AUM—end of periodother | $171B | 5.0% | – |
| Net inflowsother | $4.6B | – | – |
| Average AUMother | $170.5B | – | – |
| Average advisory feeother | 0.36% | – | – |
| Revenue yieldnon-GAAP | 0.42% | 1 basis point decrease | – |
| Operating revenuesGAAP | $179.4M | 1.3% | 42.8% |
| Advisory feesGAAP | $151.6M | – | – |
| Management feesGAAP | $5.42M | – | – |
| Performance feesGAAP | $3.78M | – | – |
| Other revenuesGAAP | $18.55M | – | – |
| Gross marginnon-GAAP | 83.0% | essentially unchanged | – |
| Gross marginnon-GAAP | $148.8M | – | – |
| Total operating expensesGAAP | $105.3M | essentially unchanged | 31.6% |
| Compensation and benefitsGAAP | $44.77M | – | – |
| Fund management and administrationGAAP | $30.53M | – | – |
| Marketing and advertisingGAAP | $5.43M | – | – |
| Sales and business developmentGAAP | $4.82M | – | – |
| Professional feesGAAP | $4.26M | – | – |
| Occupancy, communications and equipmentGAAP | $2.62M | – | – |
| Depreciation and amortizationGAAP | $4.03M | – | – |
| Third-party distribution feesGAAP | $5.33M | – | – |
| Acquisition-related costsGAAP | — | – | – |
| Other operating expensesGAAP | $3,460 | – | – |
| Operating incomeGAAP | $74.12M | – | – |
| Operating income marginGAAP | 41.3% | 0.8 point increase | – |
| Adjusted operating incomenon-GAAP | $77.34M | – | – |
| Adjusted operating income marginnon-GAAP | 43.1% | 0.5 point increase | – |
| Interest expenseGAAP | −$13.52M | 9.0% decrease | 59.7% |
| Interest incomeGAAP | $1.84M | 42.5% decrease | 54.1% decrease |
| Remeasurement of contingent considerationGAAP | $2.07M | – | – |
| Other losses and gains, netGAAP | −$35K | – | – |
| Income before income taxesGAAP | $64,477 | – | – |
| Income tax expenseGAAP | $15.26M | – | – |
| Effective income tax rateGAAP | 23.7% | – | – |
| Adjusted effective income tax ratenon-GAAP | 24.7% | – | – |
| Net incomeGAAP | $49.2M | – | – |
| Net incomenon-GAAP | $49.5M | – | – |
| Diluted earnings per shareGAAP | $0.32 | – | – |
| Diluted earnings per sharenon-GAAP | $0.32 | – | – |
| Weighted average common shares—dilutedGAAP | 156,179 | – | – |
| Nine months operating revenuesGAAP | $516,005 | – | 49.0% |
| Nine months operating incomeGAAP | $205,283 | – | – |
| Nine months net incomeGAAP | $70,369 | – | – |
| Nine months diluted earnings per shareGAAP | $0.46 | – | – |
| Nine months net cash provided by operating activitiesGAAP | $153,145 | – | – |
Capital returns
- $10.6 million of common stock repurchased, representing approximately 0.5 million shares at an average repurchase price of $21.29 per share.
- $0.03 quarterly dividend declared, payable on November 25, 2026 to stockholders of record as of the close of business on November 11, 2026.
- $18.1 million aggregate principal amount of convertible senior notes due 2029 retired, for aggregate cash consideration of $32.3 million.
- Nine months ended September 30, 2026: Common stock repurchased $(61,506); Dividends paid $(13,451); Repurchase of convertible notes $(542,545).
What drove it
- $4.6 billion of net inflows were primarily driven by inflows into fixed income, commodity and U.S. equity products.
- Operating revenues increased due to higher average AUM, partly offset by lower transaction fees from European ETPs and lower performance fees.
- Year-over-year revenue growth reflected higher average AUM, a higher average advisory fee, revenues arising from the Ceres and Atlantic House acquisitions, and increased other revenues from European listed ETPs.
- Operating margin expansion reflected favorable operating leverage from revenue growth, partially offset by higher intangible amortization associated with the Ceres and Atlantic House acquisitions.
- Contingent consideration related to the Ceres acquisition decreased from $15.8 million on June 30, 2026 to $13.7 million at September 30, 2026, resulting in a $2.1 million gain on remeasurement recognized during the third quarter of 2026.
Concerns
- Revenue yield was 0.42%, a 1 basis point decrease from the prior quarter due to lower transaction fees from European ETPs and lower performance fees.
- Interest expense increased 59.7% from the third quarter of 2025, reflecting a higher level of debt outstanding and higher interest rates.
- Operating expenses increased 31.6% from the third quarter of 2025, driven by higher incentive compensation and headcount, fund management and administration expenses, intangible asset amortization and third-party distribution fees.
- The effective income tax rate for 2026 was 35.1%, primarily due to non-deductible amounts associated with the repurchase of convertible notes.
- Emerging Market Equity recorded outflows of $(106) during the third quarter of 2026.
What to watch
- Sustainability of net inflows following $4.6 billion in third-quarter inflows and $13.6 billion of year-to-date net inflows.
- Revenue yield and the effect of European ETP transaction fees and performance fees.
- The contribution, integration and intangible amortization associated with the Ceres and Atlantic House acquisitions.
- Debt levels and interest expense after the retirement of $18.1 million aggregate principal amount of the 2029 Notes.
- Expansion of WisdomTree Onchain™, including the MoonPay and BitGo agreements and access to WTGXX.
Balance sheet and cash flow
- Cash, cash equivalents and restricted cash: $299,740 at Sept. 30, 2026, compared with $311,732 at Dec. 31, 2025.
- Convertible notes—long term: $1,058,716 at Sept. 30, 2026, compared with $804,203 at Dec. 31, 2025.
- Total assets: $1,647,086 at Sept. 30, 2026, compared with $1,512,941 at Dec. 31, 2025.
- Total liabilities: $1,201,343 at Sept. 30, 2026, compared with $1,099,269 at Dec. 31, 2025.
- Total stockholders’ equity: $445,743 at Sept. 30, 2026, compared with $413,672 at Dec. 31, 2025.
- Nine months ended September 30, 2026: Net cash provided by operating activities $153,145; net cash used in investing activities $(136,799); net cash used in financing activities $(26,345); net decrease in cash, cash equivalents and restricted cash $(11,992).
- Cash paid—Atlantic House acquisition, net of cash acquired: $(197,488) for the nine months ended September 30, 2026.
Analysis
WisdomTree reported record ending AUM of $171.0 billion, up 5.0% from the prior quarter, with $4.6 billion of net inflows and market appreciation contributing to the increase. Inflows were primarily concentrated in fixed income, commodity and U.S. equity products. Operating revenues of $179.4 million increased 1.3% sequentially and 42.8% year over year. The company attributed the year-over-year growth to higher average AUM, a higher average advisory fee, revenues from the Ceres and Atlantic House acquisitions, and increased other revenues from European listed ETPs.
Revenue mix showed advisory fees of $151,631, management fees of $5,420, performance fees of $3,778 and other revenues of $18,546. The 0.36% average advisory fee was unchanged from the prior quarter, while revenue yield declined 1 basis point sequentially to 0.42% because of lower European ETP transaction fees and lower performance fees. Gross margin was 83.0%, essentially unchanged from 82.9% in the second quarter, indicating that fund management and administration costs remained broadly stable relative to revenue.
Profitability expanded further. GAAP operating income was $74,122 and GAAP operating margin was 41.3%, a 0.8 point sequential increase from 40.5%. Adjusted operating income was $77,343 and adjusted operating margin was 43.1%, a 0.5 point sequential increase. Net income was $49.2 million and diluted EPS was $0.32, versus $19.7 million and $0.13 in the third quarter of 2025. Higher revenue supported operating leverage, although operating expenses rose 31.6% year over year due to higher incentive compensation and headcount, fund administration costs, acquisition-related intangible amortization and third-party distribution fees.
Capital allocation included $10.6 million of common-stock repurchases, retirement of $18.1 million aggregate principal amount of 2029 Notes for $32.3 million of cash consideration, and declaration of a $0.03 quarterly dividend. Cash, cash equivalents and restricted cash were $299,740 at September 30, 2026, while long-term convertible notes were $1,058,716. For the nine months ended September 30, 2026, operating cash flow was $153,145 and net cash used in investing activities was $(136,799), including $(197,488) for the Atlantic House acquisition.
The release did not provide forward financial guidance. The principal operating indicators for subsequent periods are the durability of inflows, the revenue-yield effect of European transaction and performance fees, and the realization of acquisition and platform-expansion opportunities. Management highlighted new tokenization distribution relationships with MoonPay and BitGo, the Atlantic House rebrand, and new U.S. and European product launches as strategic initiatives alongside the core ETP platform.
Management, verbatim
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.
Jarrett Lilien, WisdomTree President and COO
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.
Jonathan Steinberg, WisdomTree CEO
Not in the filing
stated, not guessed- Forward financial guidance for revenue, gross margin, operating expenses, tax rate, EPS, AUM or flows was not provided.
- Previous-release outlook was not provided.
- Free cash flow was not reported.
- GAAP gross margin was not reported.
- Revenue by reportable operating segment was not reported.
- A quarterly cash flow statement was not reported; cash flow data is presented for the nine months ended September 30, 2026.
- CFO commentary was not separately provided.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
WisdomTree, a NYSE‑listed asset manager, filed an 8‑K reporting its third‑quarter 2026 financials.
Ticker impact
WisdomTree reported Q3 2026 results with record $171.0B AUM, $4.6B net inflows and EPS $0.32.
potential upside as investors price in record AUM growth and higher operating margin.
The earnings beat on inflows and margin expansion is fresh, material information for a listed asset manager.
Market effects
Asset‑management sector may see renewed inflow optimism and higher fee revenue expectations.
U.S. and European markets could benefit from the reported inflows into fixed‑income and commodity products.
The tokenization initiatives hint at broader crypto‑asset integration trends.
Counterpoint
Higher intangible amortization from recent acquisitions could pressure margins if integration costs rise.
Key entities
- companyWisdomTree, Inc.
NYSE‑listed asset manager (ticker WT) reporting Q3 2026 results.
