Wisdomtree Investments, Inc. (WETF) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Wisdomtree Investments, Inc.
Ticker: WETF CIK: 880631

Exhibit 99.1

WisdomTree Announces Third Quarter 2019 Results

$4.2 million net income, or $10.6 million net income, as adjusted

$0.02 diluted EPS for the quarter, $0.06 as adjusted

Declares $0.03 quarterly dividend

New York, NY – (GlobeNewswire) – October 25, 2019 – WisdomTree Investments, Inc. (NASDAQ: WETF), an exchange-traded fund (“ETF”) and exchange-traded product (“ETP”) sponsor and asset manager today reported net income of $4.2 million or $0.02 diluted EPS in the third quarter. Adjusted net income (a

non-GAAP measure¹) was $10.6 million¹ or $0.06 diluted EPS¹. This compares to net income of $22.0 million or $0.13 diluted EPS (as adjusted, $14.8 million¹ or $0.09 diluted EPS¹) in the third quarter of last year and net income of $2.5 million or $0.01 diluted EPS (as adjusted, $7.8 million¹ or $0.05 diluted EPS¹) in the second quarter of 2019.

WisdomTree CEO Jonathan Steinberg said, “Our continued focus on technology has led to greater efficiency of our resources and an enhanced digital experience for our customers. Additionally, disciplined expense management led to significant improvement in operating margins and has enabled us to continue investing in market leading products and services.”

Steinberg continued, “With an increasing number of advisors looking to outsource asset allocation and portfolio construction, the development and distribution of our fully open architecture model portfolios remain a strategic priority for WisdomTree. We’ve made a key new hire for CIO of Model Portfolios who leads our Asset Allocation team and Investment Committee. We are also enhancing our relationship with Professor Jeremy Siegel in this space and intend to collaborate on model portfolios in the upcoming months. Model portfolios are an important aspect of our Advisor Solutions program along with portfolio construction tools, other technology tools, and access to practice management experts.”


	Three Months Ended									Change From
	Sept. 30, 2019			June 30, 2019			Sept. 30, 2018			June 30, 2019			Sept. 30, 2018
Consolidated Operating Highlights ($, in billions):
AUM	$	60.0		$	60.4		$	59.1			(0.6	%)		1.5	%
Net inflows/(outflows)	$	(0.7	)	$	0.3		$	(1.2	)		n/a			45.7	%
Average AUM	$	60.3		$	58.6		$	59.5			3.0	%		1.4	%
Average advisory fee		0.44	%		0.45	%		0.48	%		-0.01			-0.04

Consolidated Financial Highlights ($, in millions, except per share amounts):
Operating revenues	$	67.7		$	66.3		$	72.6			2.1	%		(6.7	%)
Net income	$	4.2		$	2.5		$	22.0			67.5	%		(81.2	%)
Diluted earnings per share	$	0.02		$	0.01		$	0.13		$	0.01		$	(0.11	)
Operating income margin		23.8	%		18.0	%		29.9	%		5.8			-6.1
Non-GAAP¹:
Net income, as adjusted	$	10.6		$	7.8		$	14.8			36.2	%		(28.1	%)
Diluted earnings per share, as adjusted	$	0.06		$	0.05		$	0.09		$	0.01		$	(0.03	)
Operating income margin, as adjusted		24.1	%		20.2	%		30.5	%		3.9			-6.4

Recent Business Developments

Company News

•

In September 2019, we announced the appointment of Jarrett Lilien as WisdomTree’s President and Chief Operating Officer; and we announced the addition of Scott Welch as WisdomTree’s Chief Investment Officer – Model Portfolios.

•

In October 2019, we announced the launch of our new website that has been re-engineered with enhanced functionality and more industry-leading tools; and we announced that Michael Steinhardt has retired from WisdomTree’s Board of Directors and Frank Salerno will replace him as Chairman of the Board.

The following information was filed by Wisdomtree Investments, Inc. (WETF) on Friday, October 25, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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