Elavon and Woo Expand Payments Partnership to North America
Installing the free-to-download Elavon extension from the WooCommerce Marketplace gives merchants instant access to Elavon's proven payment services, helping micro, small and medium-sized businesses (SMBs) rapidly grow into additional markets. With a loyal base of more than two million users and a 4.3 Trustpilot customer satisfaction rating in North America, Elavon makes it simple for merchants to scale online. It will directly manage all merchants using the extension, meaning it can offer SMBs in the United States and Canada more value-added services as their businesses grow.
Elavon's focus on integrating payments into software brings together a full suite of services for ecommerce platforms and independent software vendors (ISVs) to offer their clients. Elavon Payment Gateway can quickly integrate ecommerce platforms and ISVs to bring secure, fast and compliant payments wherever they are needed.
For the last 12 months, Elavon and Woo have delivered secure and speedy online payments for small and medium-sized businesses in Europe. The new deal means merchants in North America join millions of Woo sellers across Europe who are able to access Elavon's reliable, flexible payment solution.
Eva Paredes, Head of SMB, UK and Ireland at Elavon remarked, "Having proven the effectiveness of our payment services with WooCommerce merchants across Europe, we're excited to expand our partnership to support Woo customers throughout North America. With millions of online stores powered by Woo, this move enables us to help even more small and medium-sized businesses grow and thrive.'
Pari Sawant, Chief Product Officer for Elavon, echoed this view: 'This agreement underscores the strength of our secure, reliable, and flexible payment solutions—designed to lower barriers and simplify operations. It reaffirms Elavon's position as a trusted global payments partner, committed to empowering merchants of all sizes with seamless integration and streamlined administration."
'After seeing the strong positive sentiment towards Elavon's payment processing in Europe, we're excited to extend this partnership and powerful solution to Woo customers across North America,' offered Web Griebel, Global Head of Payments at Woo. 'This expansion reflects our continued commitment to collaborating with trusted partners like Elavon to deliver seamless, high-performing payment solutions for merchants.'
Elavon can be downloaded from the WooCommerce Marketplace at:
https://woocommerce.com/products/elavon-payments/
About Elavon
Elavon is owned by U.S. Bank (NYSE: USB), the fifth-largest bank in the United States. It provides end-to-end payment processing solutions and services to more than 1.3 million customers in the United States, Europe, and Canada. As the leading provider for airlines and a top five provider in hospitality, healthcare, retail, and public sector/education, Elavon's innovative payment solutions are designed to solve pain points for businesses from small to the largest global enterprises.
About Woo
Woo is the company behind WooCommerce, the open-source ecommerce platform powering more than 4.5 million online stores. Built on WordPress, WooCommerce offers unlimited extensibility and flexibility for store owners and builders. Woo is a fully distributed company with employees all over the world, dedicated to empowering success for merchants, developers, and anyone else making a living through ecommerce.
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WisdomTree Digital Trust Company, LLC is chartered as a limited purpose trust company by the New York State Department of Financial Services to engage in virtual currency business. Visit the WisdomTree Prime mobile app or for more information. WisdomTree currently has approximately $128.5 billion in assets under management globally. For more information about WisdomTree, WisdomTree Connect and WisdomTree Prime, visit: Please visit us on X at @WisdomTreeNews. WisdomTree® is the marketing name for WisdomTree, Inc. and its subsidiaries worldwide. PRODUCTS AND SERVICES AVAILABLE VIA WISDOMTREE PRIME: NOT FDIC INSURED | NO BANK GUARANTEE | NOT A BANK DEPOSIT | MAY LOSE VALUE | NOT SIPC PROTECTED | NOT INSURED BY ANY GOVERNMENT AGENCY The products and services available through the WisdomTree Prime app and WisdomTree Connect are not endorsed, indemnified or guaranteed by any regulatory agency. __________ (1) See "Non-GAAP Financial Measurements." (2) Adjusted 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) 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, 2024 includes a loss of $11,375 recognized upon the repurchase of our Series A Non-Voting Convertible Preferred Stock convertible into approximately 14.75 million shares of common stock from ETFS Capital Limited and $1,868 of stock repurchase excise taxes. These items are excluded from net income but are required to be added to net income to arrive at income available to common stockholders in the calculation of EPS. These items are excluded from our EPS when computed on a non-GAAP basis. WISDOMTREE, INC. AND SUBSIDIARIES KEY OPERATING STATISTICS (Unaudited) Three Months Ended June 30,2025 Mar. 31,2025 Dec. 31,2024 Sept. 30,2024 June 30,2024 GLOBAL PRODUCTS ($ in millions) Beginning of period assets $ 115,787 $ 109,779 $ 112,577 $ 109,686 $ 107,230 Add: Digital Assets—Jan. 1, 2025 — 32 — — — Inflows/(outflows) 3,527 3,052 (281 ) (2,395 ) 340 Market appreciation/(depreciation) 6,756 2,924 (2,517 ) 5,286 2,116 End of period assets $ 126,070 $ 115,787 $ 109,779 $ 112,577 $ 109,686 Average assets during the period $ 119,185 $ 114,622 $ 112,349 $ 110,369 $ 108,479 Average advisory fee during the period 0.35 % 0.35 % 0.36 % 0.37 % 0.37 % Revenue days 91 90 92 92 91 Number of products—end of the period 383 375(1 ) 353 352 350 U.S. LISTED ETFs ($ in millions) Beginning of period assets $ 80,531 $ 79,095 $ 81,267 $ 79,722 $ 78,087 Inflows/(outflows) 1,110 1,847 (40 ) (1,650 ) 1,106 Market appreciation/(depreciation) 3,538 (411 ) (2,132 ) 3,195 529 End of period assets $ 85,179 $ 80,531 $ 79,095 $ 81,267 $ 79,722 Average assets during the period $ 81,525 $ 81,127 $ 80,661 $ 80,335 $ 78,523 Number of ETFs—end of the period 81 78 78 78 78 EUROPEAN LISTED ETPs ($ in millions) Beginning of period assets $ 35,124 $ 30,684 $ 31,310 $ 29,964 $ 29,143 Inflows/(outflows) 2,201 1,104 (241 ) (745 ) (766 ) Market appreciation/(depreciation) 3,216 3,336 (385 ) 2,091 1,587 End of period assets $ 40,541 $ 35,124 $ 30,684 $ 31,310 $ 29,964 Average assets during the period $ 37,439 $ 33,415 $ 31,688 $ 30,034 $ 29,956 Number of ETPs—end of the period 285 280 275 274 272 DIGITAL ASSETS ($ in millions) Beginning of period assets $ 132 $ — $ — $ — $ — Add: Digital Assets—Jan. 1, 2025 — 32 — — — Inflows 216 101 — — — Market appreciation/(depreciation) 2 (1 ) — — — End of period assets $ 350 $ 132 $ — $ — $ — Average assets during the period $ 221 $ 80 $ — $ — $ — Number of products—end of the period 17 17(1 ) — — — PRODUCT CATEGORIES ($ in millions) U.S. Equity Beginning of period assets $ 35,628 $ 35,414 $ 34,643 $ 31,834 $ 31,670 Add: Digital Assets—Jan. 1, 2025 — 9 — — — Inflows 1,288 962 1,099 328 221 Market appreciation/(depreciation) 1,701 (757 ) (328 ) 2,481 (57 ) End of period assets $ 38,617 $ 35,628 $ 35,414 $ 34,643 $ 31,834 Average assets during the period $ 36,080 $ 36,278 $ 35,714 $ 33,175 $ 31,339 Three Months Ended June 30,2025 Mar. 31,2025 Dec. 31,2024 Sept. 30,2024 June 30,2024 Commodity & Currency Beginning of period assets $ 25,487 $ 21,906 $ 23,034 $ 21,987 $ 21,944 Add: Digital Assets—Jan. 1, 2025 — 1 — — — Outflows (110 ) (159 ) (440 ) (741 ) (1,499 ) Market appreciation/(depreciation) 1,319 3,739 (688 ) 1,788 1,542 End of period assets $ 26,696 $ 25,487 $ 21,906 $ 23,034 $ 21,987 Average assets during the period $ 25,888 $ 23,996 $ 22,989 $ 22,016 $ 22,437 Fixed Income Beginning of period assets $ 22,230 $ 20,043 $ 20,767 $ 21,430 $ 21,218 Add: Digital Assets—Jan. 1, 2025 — 21 — — — Inflows/(outflows) 146 2,093 (387 ) (897 ) 236 Market appreciation/(depreciation) 167 73 (337 ) 234 (24 ) End of period assets $ 22,543 $ 22,230 $ 20,043 $ 20,767 $ 21,430 Average assets during the period $ 22,526 $ 21,464 $ 20,398 $ 21,135 $ 21,277 International Developed Market Equity Beginning of period assets $ 18,178 $ 17,602 $ 18,075 $ 19,385 $ 18,103 Inflows/(outflows) 1,645 474 63 (1,391 ) 1,253 Market appreciation/(depreciation) 1,902 102 (536 ) 81 29 End of period assets $ 21,725 $ 18,178 $ 17,602 $ 18,075 $ 19,385 Average assets during the period $ 19,577 $ 18,275 $ 17,716 $ 18,636 $ 18,809 Emerging Market Equity Beginning of period assets $ 9,985 $ 10,468 $ 12,452 $ 11,875 $ 11,189 Inflows/(outflows) 28 (445 ) (908 ) (20 ) 57 Market appreciation/(depreciation) 944 (38 ) (1,076 ) 597 629 End of period assets $ 10,957 $ 9,985 $ 10,468 $ 12,452 $ 11,875 Average assets during the period $ 10,295 $ 10,072 $ 11,407 $ 12,083 $ 11,448 Leveraged & Inverse Beginning of period assets $ 2,133 $ 1,924 $ 2,082 $ 1,922 $ 1,828 Inflows/(outflows) 141 116 (69 ) 71 (18 ) Market appreciation/(depreciation) 357 93 (89 ) 89 112 End of period assets $ 2,631 $ 2,133 $ 1,924 $ 2,082 $ 1,922 Average assets during the period $ 2,354 $ 2,083 $ 2,032 $ 1,962 $ 1,905 Cryptocurrency Beginning of period assets $ 1,553 $ 1,912 $ 1,054 $ 838 $ 874 Add: Digital Assets—Jan. 1, 2025 — 1 — — — Inflows/(outflows) 198 (89 ) 315 201 75 Market appreciation/(depreciation) 336 (271 ) 543 15 (111 ) End of period assets $ 2,087 $ 1,553 $ 1,912 $ 1,054 $ 838 Average assets during the period $ 1,800 $ 1,900 $ 1,599 $ 917 $ 856 Alternatives Beginning of period assets $ 593 $ 510 $ 470 $ 415 $ 404 Inflows 191 100 46 54 15 Market appreciation/(depreciation) 30 (17 ) (6 ) 1 (4 ) End of period assets $ 814 $ 593 $ 510 $ 470 $ 415 Average assets during the period $ 665 $ 554 $ 494 $ 445 $ 408 Headcount 321 315 313 314 304 __________ (1) Includes 17 digital assets products, which were launched prior to January 1, 2025. Note: Previously issued statistics may be restated due to fund closures and trade adjustments. Source: WisdomTree WISDOMTREE, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts) June 30,2025 Dec. 31,2024 (Unaudited) ASSETS Current assets: Cash, cash equivalents and restricted cash $ 193,673 $ 181,191 Financial instruments owned, at fair value 97,749 85,439 Accounts receivable 43,070 44,866 Income taxes receivable 4,129 — Prepaid expenses 10,491 5,340 Other current assets 1,543 1,542 Total current assets 350,655 318,378 Fixed assets, net 316 336 Deferred tax assets, net 6,145 11,656 Investments 13,843 8,922 Right of use assets—operating leases 2,085 880 Goodwill 86,841 86,841 Intangible assets, net 606,236 605,896 Other noncurrent assets 756 631 Total assets $ 1,066,877 $ 1,033,540 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Current liabilities: Fund management and administration payable $ 33,084 $ 31,135 Compensation and benefits payable 22,217 39,701 Payable to Gold Bullion Holdings (Jersey) Limited ("GBH") 14,804 14,804 Income taxes payable — 724 Operating lease liabilities 1,352 709 Convertible notes—current 149,170 — Accounts payable and other liabilities 23,226 22,124 Total current liabilities 243,853 109,197 Convertible notes—long term 364,115 512,033 Payable to GBH 13,083 12,159 Operating lease liabilities—long term 739 171 Total liabilities 621,790 633,560 STOCKHOLDERS' EQUITY Common stock, par value $0.01; 400,000 shares authorized: Issued and outstanding: 147,061 and 146,102 at June 30, 2025 and December 31, 2024, respectively 1,471 1,461 Additional paid-in capital 269,344 270,303 Accumulated other comprehensive gain/(loss) 3,860 (1,607 ) Retained earnings 170,412 129,823 Total stockholders' equity 445,087 399,980 Total liabilities and stockholders' equity $ 1,066,877 $ 1,033,540 WISDOMTREE, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (Unaudited) Six Months Ended June 30, 2025 2024 Cash flows from operating activities: Net income $ 49,406 $ 43,870 Adjustments to reconcile net income to net cash provided by operating activities: Advisory and license fees paid in gold, other precious metals and cryptocurrency (32,532 ) (25,365 ) Stock-based compensation 11,765 10,755 Deferred income taxes 4,206 4,326 Amortization of issuance costs—convertible notes 1,252 750 Depreciation and amortization 1,120 801 Imputed interest on payable to GBH 923 1,342 (Gains)/losses on investments (920 ) 1,195 Gains on financial instruments owned, at fair value (844 ) (1,772 ) Amortization of right of use asset 662 647 Changes in operating assets and liabilities: Accounts receivable 3,562 (7,132 ) Income taxes receivable/payable (4,770 ) (2,028 ) Prepaid expenses (5,000 ) (3,353 ) Gold and other precious metals 31,543 24,972 Other assets (143 ) (118 ) Fund management and administration payable 1,272 (3,430 ) Compensation and benefits payable (18,273 ) (17,657 ) Operating lease liabilities (655 ) (662 ) Accounts payable and other liabilities 2,602 4,031 Net cash provided by operating activities 45,176 31,172 Cash flows from investing activities: Purchase of financial instruments owned, at fair value (15,756 ) (14,193 ) Purchase of investments (4,000 ) — Cash paid—software development (1,323 ) (1,184 ) Purchase of fixed assets (117 ) (102 ) Proceeds from the sale of financial instruments owned, at fair value 4,478 5,303 Proceeds from held-to-maturity securities maturing or called prior to maturity 6 12 Proceeds from the exit from investment in Securrency, Inc. — 465 Net cash used in investing activities (16,712 ) (9,699 ) Cash flows from financing activities: Common stock repurchased (12,714 ) (7,820 ) Dividends paid (8,923 ) (9,873 ) Excise taxes paid on common stock repurchased (1,868 ) — Net cash used in financing activities (23,505 ) (17,693 ) Increase/(decrease) in cash flow due to changes in foreign exchange rate 7,523 (626 ) Net increase in cash, cash equivalents and restricted cash 12,482 3,154 Cash, cash equivalents and restricted cash—beginning of year 181,191 129,305 Cash, cash equivalents and restricted cash—end of period $ 193,673 $ 132,459 Supplemental disclosure of cash flow information: Cash paid for income taxes $ 13,468 $ 11,138 Cash paid for interest $ 8,850 $ 6,175 NON-GAAP FINANCIAL MEASUREMENTS In an effort to provide additional information regarding our results as determined by GAAP, we also disclose certain non-GAAP information which we believe provides useful and meaningful information. Our management reviews these non-GAAP financial measurements when evaluating our financial performance and results of operations; therefore, we believe it is useful to provide information with respect to these non-GAAP measurements so as to share this perspective of management. Non-GAAP measurements do not have any standardized meaning, do not replace nor are they superior to GAAP financial measurements and are unlikely to be comparable to similar measures presented by other companies. These non-GAAP financial measurements should be considered in the context with our GAAP results. The non-GAAP financial measurements contained in this press release include: Adjusted Revenues, Operating Income, Operating Expenses, Income Before Income Taxes, Income Tax Expense, Net Income and Diluted Earnings per Share We disclose adjusted revenues, operating income, operating expenses, income before income taxes, income tax expense, net income and diluted earnings per share as non-GAAP financial measurements in order to report our results exclusive of items that are non-recurring or not core to our operating business. We believe presenting these non-GAAP financial measurements provides investors with a consistent way to analyze our performance. These non-GAAP financial measurements exclude the following: Gains or losses on financial instruments owned: We account for our financial instruments owned as trading securities, which requires these instruments to be measured at fair value with gains and losses reported in net income. We exclude these items when calculating our non-GAAP financial measurements as the gains and losses introduce earnings volatility and are not core to our operating business. Foreign currency remeasurement gains and losses on U.S. dollars held by foreign subsidiaries: GAAP requires account balances to be remeasured into an entity's functional currency, with resulting gains and losses reported in net income. Foreign subsidiaries holding U.S. dollars remeasure these balances into their functional currencies and recognize the gains and losses. Beginning in the second quarter of 2025, we began excluding these remeasurement effects from our non-GAAP financial measures, as they introduce earnings volatility, are not core to our operations and arise from balances denominated in our reporting currency. Tax windfalls and shortfalls upon vesting of stock-based compensation awards: GAAP requires the recognition of tax windfalls and shortfalls within income tax expense. These items arise upon the vesting of stock-based compensation awards and the magnitude is directly correlated to the number of awards vesting/exercised, as well as the difference between the price of our stock on the date the award was granted and the date the award vested or was exercised. We exclude these items when calculating our non-GAAP financial measurements as they introduce earnings volatility and are not core to our operating business. Imputed interest on our payable to the Gold Bullion Holdings (Jersey) Limited ("GBH"): During the fourth quarter of 2023, we repurchased our Series C Non-Voting Convertible Preferred Stock, which was convertible into approximately 13.1 million shares of WisdomTree common stock, from GBH, a subsidiary of the World Gold Council, for aggregate cash consideration of approximately $84.4 million. Under the terms of the transaction, we paid GBH $40.0 million on the closing date, with the remainder of the purchase price payable in equal annual installments on the first, second and third anniversaries of the closing date, with no requirement to pay interest. Under U.S. GAAP, the obligation is recorded at its present value utilizing a market rate of interest on the closing date of 7.0% and the corresponding discount is amortized as interest expense pursuant to the effective interest method of accounting over the life of the obligation. We exclude this item when calculating our non-GAAP financial measurements as recognition of interest expense is non-cash and contrary to the stated terms of our obligation. Other items: Acquisition-related costs, losses on extinguishment of convertible notes, a civil money penalty in connection with a settlement with the U.S. Securities and Exchange Commission (the "SEC") regarding certain statements about the ESG screening process for three ETFs advised by WisdomTree Asset Management, Inc. (the "SEC ESG Settlement"), gains and losses recognized on our investments, changes in deferred tax asset valuation allowance and expenses incurred in response to an activist campaign are excluded when calculating our non-GAAP financial measurements. We also offset revenues and related expenses pertaining to legal and other related expenses covered by insurance as the gross presentation required under GAAP serves to overstate our revenues and expenses in the ordinary course of business. Adjusted Effective Income Tax Rate We disclose our adjusted effective income tax rate as a non-GAAP financial measurement in order to report our effective income tax rate exclusive of items that are non-recurring or not core to our operating business. We believe reporting our adjusted effective income tax rate provides investors with a consistent way to analyze our income taxes. Our adjusted effective income tax rate is calculated by dividing adjusted income tax expense by adjusted income before income taxes. See above for information regarding the items that are excluded. Gross Margin and Gross Margin Percentage We disclose our gross margin and gross margin percentage as non-GAAP financial measurements because we believe they provide investors with a consistent way to analyze the amount we retain after paying third-party service providers to operate our ETPs. These measures also assist us in analyzing the profitability of our products. We define gross margin as total adjusted operating revenues less fund management and administration expenses. Gross margin percentage is calculated as gross margin divided by total adjusted operating revenues. GAAP to NON-GAAP RECONCILIATION (CONSOLIDATED) (in thousands) (Unaudited) Three Months Ended Adjusted Net Income and Diluted Earnings per Share: June 30,2025 Mar. 31,2025 Dec. 31,2024 Sept. 30,2024 June 30,2024 Net income/(loss), as reported $ 24,777 $ 24,629 $ 27,308 $ (4,485 ) $ 21,759 Add back: Acquisition-related costs, net of income taxes 1,489 — — — — Add back: Foreign currency remeasurement losses on U.S. dollar balances, net of income taxes 1,136 — — — — (Deduct)/add back: (Gains)/losses on financial instruments owned, net of income taxes (972 ) 333 (1,722 ) (607 ) 220 (Deduct)/add back: (Decrease)/increase in deferred tax asset valuation allowance on financial instruments owned and investments (459 ) 30 (428 ) (335 ) 391 (Deduct)/add back: (Gains)/losses recognized on investments, net of income taxes (458 ) (239 ) 389 (436 ) 998 Add back: Imputed interest on payable to GBH, net of income taxes 354 344 451 528 513 Deduct: Tax windfalls upon vesting of stock-based compensation awards (4 ) (2,083 ) — (25 ) (40 ) Add back: Loss on extinguishment of convertible notes, net of income taxes — — (718 ) 30,128 — Add back: Civil money penalty in connection with the SEC ESG Settlement — — — 4,000 — Add back: Expenses incurred in response to an activist campaign, net of income taxes — — — — 3,234 Adjusted net income $ 25,863 $ 23,014 $ 25,280 $ 28,768 $ 27,075 Weighted average common shares—diluted 146,640 146,545 147,612 156,745 166,359 Adjusted earnings per share—diluted $ 0.18 $ 0.16 $ 0.17 $ 0.18 $ 0.16 Three Months Ended Gross Margin and Gross Margin Percentage: June 30,2025 Mar. 31,2025 Dec. 31,2024 Sept. 30,2024 June 30,2024 Operating revenues $ 112,621 $ 108,082 $ 110,697 $ 113,168 $ 107,034 Deduct: Legal and other related expenses covered by insurance — — (192 ) (3,661 ) — Operating revenues, as adjusted $ 112,621 $ 108,082 $ 110,505 $ 109,507 $ 107,034 Deduct: Fund management and administration (21,252 ) (20,714 ) (22,858 ) (21,004 ) (20,139 ) Gross margin $ 91,369 $ 87,368 $ 87,647 $ 88,503 $ 86,895 Gross margin percentage 81.1 % 80.8 % 79.3 % 80.8 % 81.2 % Three Months Ended Adjusted Operating Revenues, Operating Income and Adjusted Operating Income Margin: June 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sept. 30, 2024 June 30, 2024 Operating revenues $ 112,621 $ 108,082 $ 110,697 $ 113,168 $ 107,034 Deduct: Legal and other related expenses covered by insurance — — (192 ) (3,661 ) — Operating revenues, as adjusted $ 112,621 $ 108,082 $ 110,505 $ 109,507 $ 107,034 Operating income $ 34,632 $ 34,162 $ 35,040 $ 40,792 $ 33,511 Add back: Acquisition-related costs 1,967 — — — — Add back: Expenses incurred in response to an activist campaign — — — — 4,271 Adjusted operating income $ 36,599 $ 34,162 $ 35,040 $ 40,792 $ 37,782 Adjusted operating income margin 32.5 % 31.6 % 31.7 % 37.3 % 35.3 % Three Months Ended Adjusted Total Operating Expenses: June 30,2025 Mar. 31,2025 Dec. 31,2024 Sept. 30,2024 June 30,2024 Total operating expenses $ 77,989 $ 73,920 $ 75,657 $ 72,376 $ 73,523 Deduct: Acquisition-related costs (1,967 ) Deduct: Legal and other related expenses covered by insurance — — (192 ) (3,661 ) — Deduct: Expenses incurred in response to an activist campaign — — — — (4,271 ) Adjusted total operating expenses $ 76,022 $ 73,920 $ 75,465 $ 68,715 $ 69,252 Three Months Ended Adjusted Income Before Income Taxes: June 30,2025 Mar. 31,2025 Dec. 31,2024 Sept. 30,2024 June 30,2024 Income before income taxes $ 31,870 $ 30,368 $ 34,198 $ 3,866 $ 29,526 Add back: Acquisition-related costs 1,967 — — — — Add back: Foreign currency remeasurement losses on U.S. dollar balances, net of income taxes 1,383 — — — — (Deduct)/add back: (Gains)/losses on financial instruments owned (1,284 ) 440 (2,275 ) (802 ) 291 (Deduct)/add back: (Gains)/losses recognized on investments (605 ) (316 ) 514 (576 ) 1,318 Add back: Imputed interest on payable to GBH 467 455 596 697 677 Add back: Loss on extinguishment of convertible notes — — — 30,632 — Add back: Civil money penalty in connection with the SEC ESG Settlement — — — 4,000 — Add back: Expenses incurred in response to an activist campaign — — — — 4,271 Adjusted income before income taxes $ 33,798 $ 30,947 $ 33,033 $ 37,817 $ 36,083 Three Months Ended Adjusted Income Tax Expense and Adjusted Effective Income Tax Rate: June 30, 2025 Mar. 31, 2025 Dec. 31, 2024 Sept. 30, 2024 June 30, 2024 Adjusted income before income taxes (above) $ 33,798 $ 30,947 $ 33,033 $ 37,817 $ 36,083 Income tax expense $ 7,093 $ 5,739 $ 6,890 $ 8,351 $ 7,767 Add back/(deduct): Tax benefit on acquisition-related costs 478 — — — — Add back/(deduct): Decrease/(increase) in deferred tax asset valuation allowance on financial instruments owned and investments 459 (30 ) 428 335 (391 ) (Deduct)/add back: Tax (expense)/benefit arising from (gains)/losses on financial instruments owned (312 ) 107 (553 ) (195 ) 71 Add back: Tax benefit on foreign currency remeasurement losses on U.S. dollar balances 247 — — — — (Deduct)/add back: Tax (expense)/benefit on (gains)/losses on investments (147 ) (77 ) 125 (140 ) 320 Add back: Tax benefit on imputed interest 113 111 145 169 164 Add back: Tax windfalls upon vesting of stock-based compensation awards 4 2,083 — 25 40 Add back: Tax benefit arising from extinguishment of convertible notes — — 718 504 — Add back: Tax benefit arising from expenses incurred in response to an activist campaign — — — — 1,037 Adjusted income tax expense $ 7,935 $ 7,933 $ 7,753 $ 9,049 $ 9,008 Adjusted effective income tax rate 23.5 % 25.6 % 23.5 % 23.9 % 25.0 % CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to our management. These statements may include projections relating to our proposed acquisition of Ceres Partners, LLC, including expected accretion to earnings, strategic benefits and related assumptions. 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 statements by terminology such as "may," "will," "should," "expects," "intends," "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 could materially affect results. Factors that may cause actual results to differ materially from current expectations include, among other things, the risks described below. If one or more of these or other risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. You should read this press release completely and with the understanding that our actual future results may be materially different from any future results expressed or implied by these forward-looking statements. In particular, forward-looking statements in this press release may include statements about: anticipated trends, conditions and investor sentiment in the global markets and ETPs; anticipated levels of inflows into and outflows out of our ETPs; our ability to deliver favorable rates of return to investors; competition in our business; whether we will experience future growth; our ability to develop new products and services and their potential for success; our ability to maintain current vendors or find new vendors to provide services to us at favorable costs; our ability to successfully implement our strategy relating to digital assets and blockchain-enabled financial services, including WisdomTree Prime® and WisdomTree Connect™, and achieve its objectives; our ability to successfully operate and expand our business in non-U.S. markets; the effect of laws and regulations that apply to our business; the potential benefits of the proposed acquisition of Ceres Partners, LLC, including financial or strategic outcomes; and our ability to consummate, and to successfully implement our strategic goals relating to, the proposed acquisition, and integrate the acquired business. Our business is subject to many risks and uncertainties, including without limitation: declining prices of securities, gold and other precious metals and other commodities and changes in interest rates and general market conditions can adversely affect our business by reducing the market value of the assets we manage or causing WisdomTree ETP investors to sell their fund shares and trigger redemptions; fluctuations in the amount and mix of our AUM, whether caused by disruptions in the financial markets or otherwise, including but not limited to events such as a pandemic or war, geopolitical conflicts, political events, acts of terrorism and other matters beyond our control, may negatively impact revenues and operating margins, and may impede our ability to refinance our debt upon maturity or increase the cost of borrowing upon a refinancing; competitive pressures could reduce revenues and profit margins; we derive a substantial portion of our revenues from a limited number of products, and, as a result, our operating results are particularly exposed to investor sentiment toward investing in the products' strategies and our ability to maintain the AUM of these products, as well as the performance of these products and market-specific and political and economic risk; a significant portion of our AUM is held in products with exposure to U.S. and international developed markets, and we therefore have exposure to domestic and foreign market conditions and are subject to currency exchange rate risks; withdrawals or broad changes in investments in our ETPs by investors with significant positions may negatively impact revenues and operating margins; we face increased operational, regulatory, financial and other risks as a result of conducting our business internationally, and as we expand our digital assets product offerings and services beyond our existing ETP business; many of our ETPs have a limited track record, and poor investment performance could cause our revenues to decline; and we depend on third parties to provide many critical services to operate our business and our ETPs. The failure of key vendors to adequately provide such services could materially affect our operating business and harm WisdomTree ETP investors. Additional risks include those associated with the proposed transaction, including the risk that integration may be more difficult, time-consuming or costly than expected, or that expected benefits (including projected business growth or the ability to raise additional capital into the funds of the acquired business) may not be realized as anticipated. Other factors, such as general economic conditions, including currency exchange rate fluctuations, also may have an effect on the results of our operations. For a more complete description of the risks noted above and other risks that could cause our actual results to differ from our current expectations, see "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024, and in subsequent reports filed with or furnished to the SEC. The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments may cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. Therefore, these forward-looking statements do not represent our views as of any date other than the date of this press release. Category: Business Update View source version on Contacts Investor Relations Jeremy Campbell+ Media Relations Jessica Zaloom+1.917.267.3735jzaloom@ Sign in to access your portfolio
