$WT
WisdomTree, Inc.

2014 Q1 Form 10-Q Financial Statement

#000119312514193978 Filed on May 12, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2013 Q1
Revenue $42.92M $43.17M $29.34M
YoY Change 46.28% 83.16% 53.06%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $25.11M $25.06M $20.54M
YoY Change 22.25% 39.22% 23.44%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $200.0K $200.0K $100.0K
YoY Change 100.0% 100.0% 0.0%
% of Gross Profit
Operating Expenses $26.44M $26.69M $21.49M
YoY Change 23.06% 41.67% 24.06%
Operating Profit
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.142M $861.0K
YoY Change 32.64%
Pretax Income $16.48M $16.48M $7.854M
YoY Change 109.82% 213.9% 601.25%
Income Tax -$13.73M $0.00 $0.00
% Of Pretax Income -83.29% 0.0% 0.0%
Net Earnings $30.20M $16.48M $7.854M
YoY Change 284.57% 213.9% 601.25%
Net Earnings / Revenue 70.37% 38.17% 26.77%
Basic Earnings Per Share $0.23 $0.06
Diluted Earnings Per Share $0.22 $117.9K $0.06
COMMON SHARES
Basic Shares Outstanding 130.9M shares 129.4M shares 125.4M shares
Diluted Shares Outstanding 138.7M shares 139.7M shares

Balance Sheet

Concept 2014 Q1 2013 Q4 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $104.8M $104.3M $52.30M
YoY Change 100.38% 153.16% 62.93%
Cash & Equivalents $104.8M $104.3M $52.30M
Short-Term Investments
Other Short-Term Assets $1.927M $1.320M $1.500M
YoY Change 28.47% 3.69% 7.14%
Inventory
Prepaid Expenses
Receivables $17.82M $17.59M $11.10M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $124.5M $123.2M $64.90M
YoY Change 91.87% 137.58% 59.46%
LONG-TERM ASSETS
Property, Plant & Equipment $9.587M $6.252M $400.0K
YoY Change 2296.75% 1202.5% -33.33%
Goodwill $0.00
YoY Change
Intangibles
YoY Change
Long-Term Investments $11.80M $11.70M $10.70M
YoY Change 10.28% 6.36% 5.94%
Other Assets $56.00K $564.0K $100.0K
YoY Change -44.0% 1242.86% 0.0%
Total Long-Term Assets $35.20M $18.56M $11.20M
YoY Change 214.31% 60.62% 4.67%
TOTAL ASSETS
Total Short-Term Assets $124.5M $123.2M $64.90M
Total Long-Term Assets $35.20M $18.56M $11.20M
Total Assets $159.7M $141.8M $76.10M
YoY Change 109.89% 123.56% 48.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.900M $4.400M $2.800M
YoY Change 75.0% 33.33% -31.71%
Accrued Expenses $2.800M $14.30M $2.600M
YoY Change 7.69% 550.0% 116.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.48M $29.06M $14.90M
YoY Change 30.72% 135.23% -13.87%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.349M $3.706M $0.00
YoY Change 28407.69% -100.0%
Total Long-Term Liabilities $4.349M $3.706M $0.00
YoY Change 28407.69% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.48M $29.06M $14.90M
Total Long-Term Liabilities $4.349M $3.706M $0.00
Total Liabilities $23.83M $32.76M $14.90M
YoY Change 59.91% 164.96% -14.37%
SHAREHOLDERS EQUITY
Retained Earnings -$46.29M -$76.49M
YoY Change -40.25%
Common Stock $1.332M $1.322M
YoY Change 4.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $135.9M $109.0M $61.10M
YoY Change
Total Liabilities & Shareholders Equity $159.7M $141.8M $76.10M
YoY Change 109.89% 123.56% 48.05%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2013 Q1
OPERATING ACTIVITIES
Net Income $30.20M $16.48M $7.854M
YoY Change 284.57% 213.9% 601.25%
Depreciation, Depletion And Amortization $200.0K $200.0K $100.0K
YoY Change 100.0% 100.0% 0.0%
Cash From Operating Activities $9.400M $22.40M $10.20M
YoY Change -7.84% 505.41% 277.78%
INVESTING ACTIVITIES
Capital Expenditures $3.527M -$5.100M $10.00K
YoY Change 35170.0% -110.0%
Acquisitions
YoY Change
Other Investing Activities -$100.0K -$100.0K $300.0K
YoY Change -133.33% -94.44% -127.27%
Cash From Investing Activities -$3.600M -$5.200M $300.0K
YoY Change -1300.0% 188.89% -127.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.426M $249.0K
YoY Change 2079.12% -94.25%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.400M 100.0K 500.0K
YoY Change -1180.0% -125.0% -89.8%
NET CHANGE
Cash From Operating Activities 9.400M 22.40M 10.20M
Cash From Investing Activities -3.600M -5.200M 300.0K
Cash From Financing Activities -5.400M 100.0K 500.0K
Net Change In Cash 400.0K 17.30M 11.00M
YoY Change -96.36% 1053.33% 69.23%
FREE CASH FLOW
Cash From Operating Activities $9.400M $22.40M $10.20M
Capital Expenditures $3.527M -$5.100M $10.00K
Free Cash Flow $5.873M $27.50M $10.19M
YoY Change -42.37% 643.24% 263.93%

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CY2014Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
786000 shares
CY2014Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
312 shares
CY2014Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
545000 shares
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
shares
CY2014Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of the Company&#x2019;s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet dates and the reported amounts of revenues and expenses for the periods presented. Actual results could differ materially from those estimates.</p> </div>
CY2014Q1 us-gaap Revenues
Revenues
42920000
CY2014Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
14000
CY2014Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
491000
CY2014Q1 us-gaap Straight Line Rent
StraightLineRent
-643000
CY2014Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
154000
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
16479000
CY2014Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-285000
CY2014Q1 us-gaap Other Income
OtherIncome
311000
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
30204000
CY2014Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
111000
CY2014Q1 us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
42609000
CY2014Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
5426000
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3527000
CY2014Q1 us-gaap Other Expenses
OtherExpenses
1142000
CY2014Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-11473000
CY2014Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
61000
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-5350000
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2015000
CY2014Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
5426000
CY2014Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
192000
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
464000
CY2014Q1 us-gaap Marketing Expense
MarketingExpense
10000
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-3620000
CY2014Q1 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
537000
CY2014Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
285000
CY2014Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
76000
CY2014Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-13725000
CY2014Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
2578000
CY2014Q1 us-gaap Professional Fees
ProfessionalFees
1795000
CY2014Q1 us-gaap Communications Information Technology And Occupancy
CommunicationsInformationTechnologyAndOccupancy
900000
CY2014Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
826000
CY2014Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
9355000
CY2014Q1 us-gaap Asset Management Costs
AssetManagementCosts
9168000
CY2014Q1 us-gaap Business Development
BusinessDevelopment
1301000
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
26441000
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-13725000
CY2014Q1 wetf Cash And Cash Equivalents Criteria Maturity Period
CashAndCashEquivalentsCriteriaMaturityPeriod
P90D
CY2014Q1 wetf Increase Decrease In Fund Management And Administration Payable
IncreaseDecreaseInFundManagementAndAdministrationPayable
1358000
CY2014Q1 wetf Third Party Sharing Arrangements
ThirdPartySharingArrangements
10000
CY2014Q1 wetf Dilutive Stock Options And Unvested Restricted Stock
DilutiveStockOptionsAndUnvestedRestrictedStock
7733000 shares
CY2014Q1 wetf Time Period Over Percentage Change Of Ownership Occur
TimePeriodOverPercentageChangeOfOwnershipOccur
P4Y
CY2014Q1 wetf Stock Option Issuance Period
StockOptionIssuancePeriod
P10Y
CY2014Q1 wetf Operating Lease Agreement Date
OperatingLeaseAgreementDate
2013-08
CY2014Q1 wetf Temporary Tax Differences
TemporaryTaxDifferences
2603000
CY2014Q1 wetf Permanent Tax Differences
PermanentTaxDifferences
18804000
CY2014Q1 wetf Net Operating Loss Amount Deemed Worthless
NetOperatingLossAmountDeemedWorthless
3487000

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