{"id":485053,"date":"2021-04-30T07:03:41","date_gmt":"2021-04-30T11:03:41","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/wisdomtree-announces-first-quarter-2021-results-diluted-earnings-per-share-of-0-09-0-08-as-adjusted\/"},"modified":"2021-04-30T07:03:41","modified_gmt":"2021-04-30T11:03:41","slug":"wisdomtree-announces-first-quarter-2021-results-diluted-earnings-per-share-of-0-09-0-08-as-adjusted","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/wisdomtree-announces-first-quarter-2021-results-diluted-earnings-per-share-of-0-09-0-08-as-adjusted\/","title":{"rendered":"WisdomTree Announces First Quarter 2021 Results \u2013 Diluted Earnings Per Share of $0.09 ($0.08, as adjusted)"},"content":{"rendered":"
\n

NEW YORK, April 30, 2021 (GLOBE NEWSWIRE) — WisdomTree Investments, Inc. (NASDAQ: WETF) today reported financial results for the first quarter of 2021.<\/p>\n

\n $15.1 million net income ($12.51<\/sup> million net income, as adjusted)<\/strong>, see \u201cNon-GAAP Financial Measurements\u201d for additional information.<\/p>\n

\n $2.7 million of non-cash items<\/strong>, including a gain on revaluation of deferred consideration \u2013 gold payments of $2.8 million and other non-operating gains and charges.<\/p>\n

\n $69.5 billion of ending AUM<\/strong>, an increase of 3.2% arising from net inflows and market appreciation.<\/p>\n

\n $1.3 billion of net inflows<\/strong>, driven by inflows into our emerging markets equity products.<\/p>\n

\n 0.42% average global advisory fee<\/strong>, an increase of 1 basis point due to AUM mix shift.<\/p>\n

\n $72.8 million of operating revenues<\/strong>, an increase of 8.6% due to higher average AUM and a higher average global advisory fee.
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
78.7% gross margin1<\/sup><\/strong>, a 3.1 point increase from the previous quarter.<\/p>\n

\n 25.5% operating income margin<\/strong>, a 6.3 point increase primarily due to higher revenues.<\/p>\n

\n $0.03 quarterly dividend<\/strong>
\n declared<\/strong>, payable on May 26, 2021 to stockholders of record as of the close of business on May 12, 2021.<\/p>\n

\n Update from Jarrett Lilien, WisdomTree President and COO<\/strong>\n <\/p>\n\n\n
\n
\u201cWe continue to deliver on our plan to invest in growth and our people, as well as drive efficiencies in the business.\u00a0 Our first quarter results make clear that we are executing well on all fronts. We generated strong organic growth with $1.3 billion of net inflows this quarter, and our assets under management are at a new record of just under $73 billion.\u00a0 Our thematic products, including cloud computing, artificial intelligence, battery technology and cybersecurity, have been a success with strong inflows across both our U.S. and European platforms.<\/p>\n

Overall, top-line growth led to one of our best all-around quarters, with strong revenues and expanding operating margins and net income. Our team remains focused and dedicated to exceptional execution. This, and the breadth and diversified mix of our business, gives us confidence that our momentum is sustainable.\u201d
\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Update from Jonathan Steinberg, WisdomTree CEO<\/strong>\n <\/p>\n\n\n
\n
\u201cThe takeaways from this quarter are simple: continued growth, momentum and strong execution. As I have said before, WisdomTree is operating with even greater speed, efficiency and inclusion in our new, remote-first orientation.\u00a0 Our results are clear evidence of this.\u00a0\u00a0<\/p>\n

In the crypto asset space, we have been laser focused on execution. In March, we filed for the WisdomTree Bitcoin Trust with the SEC. Earlier this month, we cross-listed our European-domiciled WisdomTree Bitcoin ETP (BTCW) in Germany, appointed Coinbase Custody as a custodian and received approval to passport BTCW in the European Union (EU), allowing for a wider audience to access and invest in the product. Just yesterday, we launched a physically backed Ethereum ETP (ETHW) in Europe. <\/p>\n

Additionally, we\u2019ve made advancements in our blockchain initiatives. In the U.S., we filed for the WisdomTree Digital Short-Term Treasury Fund with the SEC, leveraging Securrency\u2019s technology. \u00a0We also invested in Securrency\u2019s Series B funding round, as we believe their team is uniquely suited to lead in blockchain-based fintech and regtech going forward. Our ongoing financial commitment reaffirms the strength of our support and partnership in shaping the future of financial services with Securrency and our fellow investors.\u201d<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\n OPERATING AND FINANCIAL HIGHLIGHTS<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n \u00a0<\/strong>\n <\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n<\/tr>\n
\n \u00a0<\/strong>\n <\/td>\n\n Mar. 31,
2021<\/u><\/strong>\n <\/td>\n		\n Dec. 31,
2020<\/u><\/strong>\n <\/td>\n		\n Sept.\u00a030,
2020<\/u><\/strong>\n <\/td>\n		\n June 30,
2020<\/u><\/strong>\n <\/td>\n		\n Mar. 31,
2020<\/u><\/strong>\n <\/td>\n<\/tr>\n
\n
\n Consolidated Operating Highlights ($ in billions):<\/u>
\n <\/strong>\n <\/td>\n		\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
AUM<\/td>\n$<\/td>\n69.5<\/td>\n\u00a0<\/td>\n$<\/td>\n67.4<\/td>\n\u00a0<\/td>\n$<\/td>\n60.7<\/td>\n\u00a0<\/td>\n$<\/td>\n57.7<\/td>\n\u00a0<\/td>\n$<\/td>\n50.3<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net inflows\/(outflows)<\/td>\n$<\/td>\n1.3<\/td>\n\u00a0<\/td>\n$<\/td>\n0.9<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.5<\/td>\n)<\/td>\n$<\/td>\n0.1<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.5<\/td>\n)<\/td>\n<\/tr>\n
Average AUM<\/td>\n$<\/td>\n69.6<\/td>\n\u00a0<\/td>\n$<\/td>\n64.1<\/td>\n\u00a0<\/td>\n$<\/td>\n61.2<\/td>\n\u00a0<\/td>\n$<\/td>\n55.7<\/td>\n\u00a0<\/td>\n$<\/td>\n60.2<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average advisory fee<\/td>\n\u00a0<\/td>\n0.42<\/td>\n%<\/td>\n\u00a0<\/td>\n0.41<\/td>\n%<\/td>\n\u00a0<\/td>\n0.42<\/td>\n%<\/td>\n\u00a0<\/td>\n0.41<\/td>\n%<\/td>\n\u00a0<\/td>\n0.42<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n Consolidated Financial Highlights <\/u>
\n <\/strong>
\n
\n ($ in millions, except per share amounts):<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating revenues<\/td>\n$<\/td>\n72.8<\/td>\n\u00a0<\/td>\n$<\/td>\n67.1<\/td>\n\u00a0<\/td>\n$<\/td>\n64.6<\/td>\n\u00a0<\/td>\n$<\/td>\n58.1<\/td>\n\u00a0<\/td>\n$<\/td>\n63.9<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income\/(loss)<\/td>\n$<\/td>\n15.1<\/td>\n\u00a0<\/td>\n$<\/td>\n(13.5<\/td>\n)<\/td>\n$<\/td>\n(0.3<\/td>\n)<\/td>\n$<\/td>\n(13.3<\/td>\n)<\/td>\n$<\/td>\n(8.6<\/td>\n)<\/td>\n<\/tr>\n
Diluted earnings\/(loss) per share<\/td>\n$<\/td>\n0.09<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.10<\/td>\n)<\/td>\n$<\/td>\n(0.01<\/td>\n)<\/td>\n$<\/td>\n(0.09<\/td>\n)<\/td>\n$<\/td>\n(0.06<\/td>\n)<\/td>\n<\/tr>\n
Operating income margin<\/td>\n\u00a0<\/td>\n25.5<\/td>\n%<\/td>\n\u00a0<\/td>\n19.2<\/td>\n%<\/td>\n\u00a0<\/td>\n22.8<\/td>\n%<\/td>\n\u00a0<\/td>\n20.3<\/td>\n%<\/td>\n\u00a0<\/td>\n24.5<\/td>\n%<\/td>\n<\/tr>\n
\n As Adjusted (Non-GAAP<\/u>
\n 1<\/sup>):<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross margin<\/td>\n\u00a0<\/td>\n78.7<\/td>\n%<\/td>\n\u00a0<\/td>\n75.6<\/td>\n%<\/td>\n\u00a0<\/td>\n76.5<\/td>\n%<\/td>\n\u00a0<\/td>\n75.1<\/td>\n%<\/td>\n\u00a0<\/td>\n77.3<\/td>\n%<\/td>\n<\/tr>\n
Net income, as adjusted<\/td>\n$<\/td>\n12.5<\/td>\n\u00a0<\/td>\n$<\/td>\n9.2<\/td>\n\u00a0<\/td>\n$<\/td>\n11.0<\/td>\n\u00a0<\/td>\n$<\/td>\n8.5<\/td>\n\u00a0<\/td>\n$<\/td>\n11.2<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted earnings per share, as adjusted<\/td>\n$<\/td>\n0.08<\/td>\n\u00a0<\/td>\n$<\/td>\n0.06<\/td>\n\u00a0<\/td>\n$<\/td>\n0.07<\/td>\n\u00a0<\/td>\n$<\/td>\n0.05<\/td>\n\u00a0<\/td>\n$<\/td>\n0.07<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating income margin, as adjusted<\/td>\n\u00a0<\/td>\n25.5<\/td>\n%<\/td>\n\u00a0<\/td>\n19.2<\/td>\n%<\/td>\n\u00a0<\/td>\n22.8<\/td>\n%<\/td>\n\u00a0<\/td>\n20.4<\/td>\n%<\/td>\n\u00a0<\/td>\n25.1<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

\n RECENT BUSINESS DEVELOPMENTS<\/strong>\n <\/p>\n\n\n
\n
\n Company News<\/u><\/p>\n