WisdomTree, Inc. Files Q3 2024 10-Q Report

TL;DR

WisdomTree filed its Q3 2024 10-Q. Check financials.

AI Summary

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

Why It Matters

This filing provides investors with an update on WisdomTree's financial health and operational performance during the third quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Numbers

• 001-10932 — SEC File Number (Identifier for WisdomTree's SEC filings)
• 13-3487784 — IRS Employer Identification No. (Tax identification number for WisdomTree)

Key Players & Entities

• WisdomTree, Inc. (company) — Registrant
• September 30, 2024 (date) — Quarterly period end date
• 20241107 (date) — Filing date
• WisdomTree Investments, Inc. (company) — Former company name
• 250 West 34th Street (location) — Company address

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value Preferred Stock Purchase Ri
• $33,764 — 58,722 Accounts receivable (including $33,764 and $28,511 due from related parties at
• $28,511 — ounts receivable (including $33,764 and $28,511 due from related parties at September 3
• $0 — 2023, respectively; redemption value of $0 and $ 96,869 at September 30, 2024 and
• $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-20240930.htm (10-Q) — 3410KB
• ex31_1.htm (EX-31.1) — 9KB
• ex31_2.htm (EX-31.2) — 8KB
• ex32_1.htm (EX-32.1) — 6KB
• p36_chart.jpg (GRAPHIC) — 33KB
• p37_charta.jpg (GRAPHIC) — 123KB
• p38_charta.jpg (GRAPHIC) — 93KB
• p39_charta.jpg (GRAPHIC) — 32KB
• p39_chartb.jpg (GRAPHIC) — 32KB
• p40_chart.jpg (GRAPHIC) — 23KB
• 0001214659-24-018545.txt ( ) — 11582KB
• wt-20240930.xsd (EX-101.SCH) — 95KB
• wt-20240930_cal.xml (EX-101.CAL) — 70KB
• wt-20240930_def.xml (EX-101.DEF) — 440KB
• wt-20240930_lab.xml (EX-101.LAB) — 732KB
• wt-20240930_pre.xml (EX-101.PRE) — 443KB
• wt-20240930_htm.xml (XML) — 1021KB

: 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 56

PART II: OTHER INFORMATION 56

LEGAL PROCEEDINGS 56

ITEM 1. LEGAL PROCEEDINGS 56

RISK FACTORS 56

ITEM 1A. RISK FACTORS 56

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 57

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 57

DEFAULTS UPON SENIOR SECURITIES 57

ITEM 3. DEFAULTS UPON SENIOR SECURITIES 57

MINE SAFETY DISCLOSURES 57

ITEM 4. MINE SAFETY DISCLOSURES 57

OTHER INFORMATION 57

ITEM 5. OTHER INFORMATION 57

EXHIBITS 58

ITEM 6. EXHIBITS 58 Unless otherwise indicated, references to "the Company," "we," "us," "our" and "WisdomTree" mean WisdomTree, Inc. and its subsidiaries. WisdomTree , WisdomTree Prime , WisdomTree Connect 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 owners. 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 in subsequent reports filed with or furni

: FINANCIAL

PART I: FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS WisdomTree, Inc. and Subsidiaries Consolidated Balance Sheets (In Thousands, Except Per Share Amounts) September 30, 2024 December 31, 2023 Assets (unaudited) Current assets: Cash, cash equivalents and restricted cash (including $ 11,192 and $ 5,007 invested in the WisdomTree Government Money Market Digital Fund at September 30, 2024 and December 31, 2023, respectively) $ 176,483 $ 129,305 Financial instruments owned, at fair value (including $ 70,010 and $ 47,559 invested in WisdomTree products at September 30, 2024 and December 31, 2023, respectively) (Note 5) 77,341 58,722 Accounts receivable (including $33,764 and $28,511 due from related parties at September 30, 2024 and December 31, 2023, respectively) 45,200 35,473 Prepaid expenses 6,968 5,258 Other current assets 1,173 1,036 Total current assets 307,165 229,794 Fixed assets, net 389 427 Securities held-to-maturity 212 230 Deferred tax assets, net (Note 21) 8,568 11,057 Investments (Note 7) 8,764 9,684 Right of use assets—operating leases (Note 13) 1,220 563 Goodwill (Note 23) 86,841 86,841 Intangible assets, net (Note 23) 605,802 605,082 Other noncurrent assets 474 459 Total assets $ 1,019,435 $ 944,137 Liabilities and stockholders' equity Liabilities Current liabilities: Fund management and administration payable $ 30,200 $ 30,085 Compensation and benefits payable 30,087 38,111 Payable to Gold Bullion Holdings (Jersey) Limited ("GBH") (Note 12) 14,804 14,804 Income taxes payable 5,798 3,866 Operating lease liabilities (Note 13) 950 578 Accounts payable and other liabilities 24,634 15,772 Total current liabilities 106,473 103,216 Convertible notes (Note 10) 511,406 274,888 Payable to GBH (Note 12) 26,368 24,328 Operating lease liabilities—long term 270 — Total liabilities 644,517 402,432 Preferred stock—Series A Non-Voting Convertible, par value $ 0.01 ;

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 and institutional platform, WisdomTree Connect. The Company has the following wholly-owned operating subsidiaries: WisdomTree Asset Management, Inc. ("WTAM") 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

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