The following is a summary of the WisdomTree, Inc. (WT) Q1 2024 Earnings Call Transcript:
Financial Performance:
WisdomTree reported a Q1 revenue of $96.8 million, an 18% increase YoY, primarily attributed to higher AUM.
An adjusted net income of $20.3 million or $0.12 per share was reported for the quarter.
WisdomTree saw an expanded operating margin of 820 basis points YoY due to organic growth and favorable deal-making.
Business Progress:
The company displayed organic growth with $2 billion of net inflows during the quarter.
WisdomTree's AUM reached a record high of $107.2 billion, a growth of 18.2% YoY and 7.1% sequentially.
After receiving a trust charter from NYDFS, WisdomTree can now onboard New York customers to its WisdomTree Prime offering.
The firm launched a debit card offering which was well received by customers.
WisdomTree plans to expand its addressable market to around 80,000 advisors by year end.
The company is looking into tokenized assets and blockchain-enabled finance for more growth opportunities.
WisdomTree's new UCITS product, launched in Europe, is valued at over $6 billion and promises to contribute significantly towards its European growth strategy.
More details: WisdomTree IR
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