WisdomTree, Inc.

Revenue was $177.2 million, up 11% sequentially and 57% from the prior-year quarter. Adjusted net income was $48.1 million, or $0.31 per share. Assets under management ended the quarter at a record $162.9 billion, up 7% from March 31, driven by favorable markets, positive net inflows, and the Atlantic House acquisition. Net inflows were $3.1 billion in the quarter, including $2.1 billion in Europe and $1 billion in the U.S.; year-to-date net inflows totaled $9 billion, implying an annualized organic growth rate of about 13%. Adjusted operating margin was 42.6% in Q2 and 41.1% year to date, up 900 basis points versus the prior-year period. Forward guidance was updated for diluted share count in the second half of 2026 to 152 million to 155 million, down from prior guidance of 154 million, and interest income guidance was reduced to $8 million from $10 million. All other guidance remained unchanged.

Jarrett Lilien said the quarter showed that WisdomTree’s strategy is working because growth came from multiple geographies, client channels, asset classes, and revenue streams rather than one product or one market. He emphasized that the business is becoming more durable and that portfolio solutions, models, and SMAs are creating stickier assets that should contribute more over time. His tone was upbeat and focused on breadth, durability, and operating leverage.

Bryan Edmiston walked through the financial drivers: AUM rose to $162.9 billion, net inflows were $3.1 billion, revenue was $177.2 million, and adjusted net income was $48.1 million, or $0.31 per share. He said year-to-date revenue increased 53% and adjusted operating margin reached 41.1%, reflecting operating leverage and the effects of recent acquisitions. He also noted capital actions, including retiring about $127 million of convertible notes and repurchasing about $29 million of stock through today, and he lowered interest income guidance to $8 million from $10 million due to reallocating cash into buybacks.

Analysts pressed management on the cadence of Ceres inflows and performance fees, and Bryan said the quarter was a transition period after closing the flagship fund and launching Fund II, while calling $6 million of performance fees a more normalized level. He also pointed to a strong pipeline with more than 100 interested investors and over $100 million of assets from the WisdomTree distribution team. Questions on Atlantic House focused on modeling its revenue contribution and management said its models business should provide a fairly stable run rate, while structuring fees can vary by quarter but were $13 million in 2025, with opportunities to expand in the UK, U.S., and Europe. Analysts also asked about tokenization, farmland ETFs, and AI/data-center-related farm assets; management said the tokenization pipeline is robust, the farmland ETF work is ongoing without a timeline, and Ceres has optionality around land use while respecting community concerns.