WisdomTree Investments reported third-quarter 2026 adjusted earnings per share of $0.32, beating the consensus estimate of $0.30. Revenue climbed 43% year over year to $179.4 million, falling slightly short of the $180.73 million forecast. Assets under management reached a record $171 billion, marking the company's seventh consecutive quarter of record AUM. The firm posted $4.6 billion in net inflows for the quarter, with gains spread across U.S. products, Europe and on-chain offerings.
Adjusted operating margin expanded to 43.1%, reflecting operating leverage in the business model. Adjusted net income reached $49.5 million. Year-to-date net inflows totaled $13.6 billion. The company raised full-year interest income guidance to $9 million and narrowed discretionary spending guidance to $83 million to $87 million.
Growth came from higher assets under management, stronger trading activity and recent acquisitions including Ceres and Atlantic House. Net inflows broke down as $2.4 billion from U.S. products, $1.7 billion from Europe and $500 million from on-chain products.
The stock closed the regular session at $20.71, down 3.9%, and was unchanged in after-hours trading. The shares remain above the 52-week low of $10.69 and below the 52-week high of $25.91. The stock has delivered a 74% return over the past year and trades at a P/E ratio of 37.5 with a PEG ratio of 0.97.
Management outlined three growth areas going forward: public markets, private markets and tokenization. The company expects to launch private-market allocations in an ETF wrapper in 2027 and plans to expand its on-chain platform through partnerships with BitGo, MoonPay, Stable Sea, HashKey, Marketnode and Synthesys.
Chief Financial Officer Bryan Edmiston stated that adjusted operating margins of 43.1% "underscore the operating leverage in our business model." An executive described WisdomTree as a "next-generation global asset manager" positioned at the intersection of democratized investing, public-private market convergence and tokenization.
Investors monitoring WisdomTree (WT) should track the company's ability to monetize tokenization and private-market initiatives while managing the revenue dependency on market levels and trading activity.