WisdomTree, Inc. Files Q2 2024 10-Q Report

TL;DR

WisdomTree filed its Q2 2024 10-Q. Check financials.

AI Summary

WisdomTree, Inc. filed its quarterly report on Form 10-Q for the period ended June 30, 2024. The company, formerly known as WisdomTree Investments, Inc., is incorporated in Delaware and headquartered in New York. The filing covers its financial performance and operations during the second quarter of 2024.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for WisdomTree, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or unusual disclosures.

Key Players & Entities

• WisdomTree, Inc. (company) — Registrant
• June 30, 2024 (date) — Quarterly period end date
• 20240630 (date) — Conformed period of report
• 20240802 (date) — Filing date
• WisdomTree Investments, Inc. (company) — Former company name
• 250 West 34th Street (location) — Business address

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value Preferred Stock Purchase Ri
• $32,890 — 58,722 Accounts receivable (including $32,890 and $28,511 due from related parties at
• $28,511 — ounts receivable (including $32,890 and $28,511 due from related parties at June 30, 20
• $86,898 — Convertible Preferred Stock (valued at $86,898) in connection with the termination of
• $60,000 — ney) in connection with the maturity of $60,000 aggregate principal amount of 4.25% Con

Filing Documents

• wt-20240630.htm (10-Q) — 2966KB
• ex3_7.htm (EX-3.7) — 181KB
• ex31_1.htm (EX-31.1) — 9KB
• ex31_2.htm (EX-31.2) — 8KB
• ex32_1.htm (EX-32.1) — 6KB
• aum.jpg (GRAPHIC) — 65KB
• etfflow.jpg (GRAPHIC) — 116KB
• euetf.jpg (GRAPHIC) — 58KB
• euetfflow.jpg (GRAPHIC) — 110KB
• opres.jpg (GRAPHIC) — 42KB
• usetf.jpg (GRAPHIC) — 56KB
• 0001214659-24-013626.txt ( ) — 11561KB
• wt-20240630.xsd (EX-101.SCH) — 99KB
• wt-20240630_cal.xml (EX-101.CAL) — 66KB
• wt-20240630_def.xml (EX-101.DEF) — 425KB
• wt-20240630_lab.xml (EX-101.LAB) — 724KB
• wt-20240630_pre.xml (EX-101.PRE) — 428KB
• wt-20240630_htm.xml (XML) — 1034KB

: FINANCIAL INFORMATION 4

PART I: FINANCIAL INFORMATION 4

FINANCIAL STATEMENTS 4

ITEM 1. FINANCIAL STATEMENTS 4

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 35

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 35

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 54

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 54

CONTROLS AND PROCEDURES 55

ITEM 4. CONTROLS AND PROCEDURES 55

: OTHER INFORMATION 55

PART II: OTHER INFORMATION 55

LEGAL PROCEEDINGS 55

ITEM 1. LEGAL PROCEEDINGS 55

RISK FACTORS 55

ITEM 1A. RISK FACTORS 55

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 55

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 55

DEFAULTS UPON SENIOR SECURITIES 56

ITEM 3. DEFAULTS UPON SENIOR SECURITIES 56

MINE SAFETY DISCLOSURES 56

ITEM 4. MINE SAFETY DISCLOSURES 56

OTHER INFORMATION 56

ITEM 5. OTHER INFORMATION 56

EXHIBITS 57

ITEM 6. EXHIBITS 57 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 other things, those listed in the section entitled "Risk Factors" included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and our quarterly report on Form 10-Q for the quarter ended March

: FINANCIAL

PART I: FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS WisdomTree, Inc. and Subsidiaries Consolidated Balance Sheets (In Thousands, Except Per Share Amounts) June 30, 2024 December 31, 2023 Assets (unaudited) Current assets: Cash, cash equivalents and restricted cash (including $ 5,125 and $ 5,007 invested in the WisdomTree Government Money Market Digital Fund at June 30, 2024 and December 31, 2023, respectively) $ 132,459 $ 129,305 Financial instruments owned, at fair value (including $ 59,889 and $ 47,559 invested in WisdomTree products at June 30, 2024 and December 31, 2023, respectively) (Note 5) 69,783 58,722 Accounts receivable (including $32,890 and $28,511 due from related parties at June 30, 2024 and December 31, 2023, respectively) 42,664 35,473 Prepaid expenses 8,595 5,258 Other current assets 1,199 1,036 Total current assets 254,700 229,794 Fixed assets, net 413 427 Securities held-to-maturity 218 230 Deferred tax assets, net (Note 21) 6,786 11,057 Investments (Note 7) 8,288 9,684 Right of use assets—operating leases (Note 13) 847 563 Goodwill (Note 23) 86,841 86,841 Intangible assets, net (Note 23) 605,580 605,082 Other noncurrent assets 457 459 Total assets $ 964,130 $ 944,137 Liabilities and stockholders' equity Liabilities Current liabilities: Fund management and administration payable $ 26,551 $ 30,085 Compensation and benefits payable 20,315 38,111 Payable to Gold Bullion Holdings (Jersey) Limited ("GBH") (Note 12) 14,804 14,804 Income taxes payable 1,830 3,866 Operating lease liabilities (Note 13) 847 578 Accounts payable and other liabilities 20,341 15,772 Total current liabilities 84,688 103,216 Convertible notes (Note 10) 275,638 274,888 Payable to GBH (Note 12) 25,671 24,328 Total liabilities 385,997 402,432 Preferred stock—Series A Non-Voting Convertible, par value $ 0.01 ; 14.750 shares authorized, issued and outstanding; redemption value of $ 1

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 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 management se

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View this 10-Q filing on SEC EDGAR