Q2 2024 WisdomTree Inc Earnings Call Transcript
Key Points
- WisdomTree Inc (WT) achieved record assets under management (AUM) of $109.7 billion, driven by favorable market conditions.
- The company reported a 25% increase in revenue compared to the prior-year quarter, reaching $107 million.
- WisdomTree Inc (WT) experienced strong net inflows of $1.9 billion in US-listed ETFs and offshore UCITS ETF suite during the quarter.
- The company achieved a significant margin expansion, with operating margins reaching 35.3% in Q2 2024.
- WisdomTree Inc (WT) is expanding its accessible market for adviser models, expecting to reach over 85,000 advisers by year-end.
- WisdomTree Inc (WT) faced outflows from its commodity products, which are tactical in nature, affecting overall flows.
- The company's European fund outflows have been a concern, with commodity and currency funds experiencing outflows for 15 of the past 17 quarters.
- The lengthy regulatory process for tokenization and blockchain-enabled finance has taken longer than initially anticipated.
- WisdomTree Inc (WT) is still in the early stages of marketing its WisdomTree Prime offering, with full state coverage yet to be achieved.
- The company's compensation expense guidance is being updated to a percentage of revenue, indicating potential variability in future expenses.
Greetings, and welcome to the WisdomTree Q2 2024 earnings call. (Operator Instructions)
As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Jessica Zaloom, Head of Corporate Communications. Thank you, Jessica. You may begin.
Good morning. Before we begin, I would like to reference our legal disclaimer available in today's presentation. This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
A number of factors could cause actual results to differ materially from the results discussed in forward-looking statements, including, but not limited to, the risks set forth in this presentation and in the Risk Factors section of WisdomTree's annual report on Form 10-K for the year ended December 31, 2023, and quarterly report on Form 10-Q for the quarter ended March 31, 2024.
WisdomTree assumes no duty and does not undertake to update any
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