WisdomTree, Inc. Files 10-Q for Period Ended March 31, 2024

TL;DR

<b>WisdomTree, Inc. has filed its quarterly report for Q1 2024, confirming its status as a large accelerated filer and its compliance with SEC filing requirements.</b>

AI Summary

WisdomTree, Inc. (WT) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. WisdomTree, Inc. filed its quarterly report on Form 10-Q for the period ended March 31, 2024. The company is incorporated in Delaware and its fiscal year ends on December 31. WisdomTree, Inc. is registered with the SEC under file number 001-10932. The company's common stock trades on The New York Stock Exchange under the ticker symbol WT. WisdomTree, Inc. has submitted all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days.

Why It Matters

For investors and stakeholders tracking WisdomTree, Inc., this filing contains several important signals. This filing provides an update on WisdomTree's financial performance and operational status for the first quarter of 2024, crucial for investors assessing the company's trajectory. As a large accelerated filer, WisdomTree's disclosures are subject to rigorous scrutiny, offering detailed insights into its business and financial health.

Risk Assessment

Risk Level: low — WisdomTree, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant new risks beyond those typically associated with public companies in the financial sector.

Analyst Insight

Investors should review the detailed financial statements and management's discussion and analysis within the 10-Q to understand WisdomTree's performance and outlook for the remainder of 2024.

Key Numbers

• 20240331 — Quarterly Period End Date (Form 10-Q)
• 20240507 — Filing Date (Form 10-Q)
• 001-10932 — SEC File Number (Registrant Information)
• 13-3487784 — IRS Employer Identification No. (Registrant Information)

Key Players & Entities

• WisdomTree, Inc. (company) — Filer name
• 0001214659-24-008488 (other) — Accession Number
• 20240331 (date) — Conformed Period of Report
• 20240507 (date) — Filed as of Date
• 001-10932 (other) — SEC File Number
• WT (ticker) — Trading Symbol
• The New York Stock Exchange (company) — Exchange
• Delaware (other) — State of Incorporation

FAQ

Risk Factors

• Compliance with Exchange Act Rules [low — regulatory]: The company confirms it has filed all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days.

Industry Context

WisdomTree, Inc. operates in the financial services sector, specifically focusing on exchange-traded funds (ETFs) and related investment products.

Regulatory Implications

The filing is made under Section 13 or 15(d) of the Securities Exchange Act of 1934, requiring quarterly and annual reports from public companies.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and Management's Discussion and Analysis.
2. Monitor future SEC filings for updates on WisdomTree's financial health and strategic initiatives.
3. Assess the company's performance against industry benchmarks and competitor filings.

Key Dates

• 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-07: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value Preferred Stock Purchase Ri
• $31,178 — 58,722 Accounts receivable (including $31,178 and $28,511 due from related parties at
• $28,511 — ounts receivable (including $31,178 and $28,511 due from related parties at March 31, 2

Filing Documents

• wt-20240331.htm (10-Q) — 1125KB
• ex31_1.htm (EX-31.1) — 9KB
• ex31_2.htm (EX-31.2) — 8KB
• ex32_1.htm (EX-32.1) — 6KB
• chart1.jpg (GRAPHIC) — 69KB
• chart2.jpg (GRAPHIC) — 82KB
• chart3.jpg (GRAPHIC) — 79KB
• chart4.jpg (GRAPHIC) — 70KB
• chart5.jpg (GRAPHIC) — 71KB
• chart6.jpg (GRAPHIC) — 51KB
• 0001214659-24-008488.txt (&nbsp;) — 8856KB
• wt-20240331.xsd (EX-101.SCH) — 96KB
• wt-20240331_cal.xml (EX-101.CAL) — 64KB
• wt-20240331_def.xml (EX-101.DEF) — 421KB
• wt-20240331_lab.xml (EX-101.LAB) — 735KB
• wt-20240331_pre.xml (EX-101.PRE) — 432KB
• wt-20240331_htm.xml (XML) — 839KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION 4 ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 4 ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 32 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 48 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 48

: OTHER INFORMATION

PART II: OTHER INFORMATION 49 ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 49 ITEM 1A.

RISK FACTORS

RISK FACTORS 49 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 50 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 50 ITEM 4. MINE SAFETY DISCLOSURES 50 ITEM 5. OTHER INFORMATION 50 ITEM 6. EXHIBITS 51 Unless otherwise indicated, references to "the Company," "we," "us," "our" and "WisdomTree" mean WisdomTree, Inc. and its subsidiaries. WisdomTree , WisdomTree Prime and Modern Alpha are trademarks of WisdomTree, Inc. in the United States and in other countries. All other trademarks are the property of their respective 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING This Quarterly Report on Form 10-Q, or Report, 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, these statements relate to future events or our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue" or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond our control and which could materially affect our results. Factors that may cause actual results to differ materially from current expectations include, among oth

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS WisdomTree, Inc. and Subsidiaries Consolidated Balance Sheets (In Thousands, Except Per Share Amounts) March 31, 2024 December 31, 2023 Assets (unaudited) Current assets: Cash, cash equivalents and restricted cash (including $ 5,061 and $ 5,007 invested in the WisdomTree Government Money Market Digital Fund at March 31, 2024 and December 31, 2023, respectively) (Note 3) $ 116,926 $ 129,305 Financial instruments owned, at fair value (including $ 48,353 and $ 47,559 invested in WisdomTree products at March 31, 2024 and December 31, 2023, respectively) (Note 5) 58,301 58,722 Accounts receivable (including $31,178 and $28,511 due from related parties at March 31, 2024 and December 31, 2023, respectively) 40,020 35,473 Prepaid expenses 6,491 5,258 Other current assets 1,284 1,036 Total current assets 223,022 229,794 Fixed assets, net 436 427 Securities held-to-maturity 224 230 Deferred tax assets, net (Note 21) 5,477 11,057 Investments (Note 7) 9,606 9,684 Right of use assets—operating leases (Note 13) 243 563 Goodwill (Note 23) 86,841 86,841 Intangible assets, net (Note 23) 605,347 605,082 Other noncurrent assets 456 459 Total assets $ 931,652 $ 944,137 Liabilities and stockholders' equity Liabilities Current liabilities: Fund management and administration payable $ 32,665 $ 30,085 Compensation and benefits payable 9,624 38,111 Payable to Gold Bullion Holdings (Jersey) Limited ("GBH") (Note 12) 14,804 14,804 Income taxes payable 1,140 3,866 Operating lease liabilities (Note 13) 251 578 Accounts payable and other liabilities 17,105 15,772 Total current liabilities 75,589 103,216 Convertible notes (Note 10) 275,263 274,888 Payable to GBH (Note 12) 24,994 24,328 Total liabilities 375,846 402,432 Preferred stock—Series A Non-Voting Convertible, par value $ 0.01 ; 14.750 shares authorized, issued and outstanding; redemption

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (In Thousands, Except Share and Per Share Amounts) 1. Organization and Description of Business WisdomTree, Inc., through its global subsidiaries (collectively, "WisdomTree" or the "Company"), is a global financial innovator, offering a well-diversified suite of exchange-traded products ("ETPs"), models, solutions and products leveraging blockchain technology. Building on its heritage of innovation, the Company is also developing and has launched next-generation digital products, services and structures, including digital or blockchain-enabled mutual funds ("Digital Funds") and tokenized assets, as well as its blockchain-native digital wallet, WisdomTree Prime. The Company has the following wholly-owned operating subsidiaries: WisdomTree Asset Management, Inc. is a New York based investment adviser registered with the SEC, providing investment advisory and other management services to the WisdomTree Trust ("WTT") and WisdomTree exchange-traded funds ("ETFs"). The WisdomTree ETFs are issued in the U.S. by WTT. WTT is a non-consolidated Delaware statutory trust registered with the SEC as an open-end management investment company. The Company has licensed to WTT the use of certain of its own indexes on an exclusive basis for the WisdomTree ETFs in the U.S. WisdomTree Management Jersey Limited ("ManJer") is a Jersey based management company providing management services to seven issuers (the "ManJer Issuers") in respect of the ETPs issued and listed by the ManJer Issuers covering commodity, currency, cryptocurrency and leveraged-and-inverse strategies. WisdomTree Multi Asset Management Limited ("WTMAML") is a Jersey based management company providing management services to WisdomTree Multi Asset Issuer PLC ("WMAI") in respect of the ETPs issued by WMAI. WMAI is a non-consolidated public limited company domiciled in Ireland. WisdomTree Management Limited ("WML") is an Ireland based management company providing manageme

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View this 10-Q filing on SEC EDGAR