$WT
WisdomTree, Inc.

2015 Q4 Form 10-Q Financial Statement

#000119312515371686 Filed on November 09, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $76.49M $80.75M $47.11M
YoY Change 54.21% 71.4% 18.88%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $37.17M $39.18M $25.53M
YoY Change 17.63% 53.47% 9.01%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $300.0K $300.0K $200.0K
YoY Change 50.0% 50.0%
% of Gross Profit
Operating Expenses $39.31M $41.22M $26.86M
YoY Change 19.41% 53.48% 8.89%
Operating Profit
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.620M $1.123M
YoY Change 44.26% -3.52%
Pretax Income $35.69M $39.53M $20.26M
YoY Change 113.97% 95.16% 35.36%
Income Tax $15.16M $16.25M $9.634M
% Of Pretax Income 42.48% 41.09% 47.56%
Net Earnings $20.53M $23.29M $10.62M
YoY Change 113.41% 119.22% -29.01%
Net Earnings / Revenue 26.84% 28.84% 22.55%
Basic Earnings Per Share $0.17 $0.08
Diluted Earnings Per Share $144.2K $0.17 $0.08
COMMON SHARES
Basic Shares Outstanding 138.4M shares 136.6M shares 131.8M shares
Diluted Shares Outstanding 138.2M shares 138.3M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $210.1M $212.0M $151.3M
YoY Change 27.1% 40.12% 73.71%
Cash & Equivalents $210.1M $212.0M $151.3M
Short-Term Investments $0.00
Other Short-Term Assets $272.0K $2.958M $2.208M
YoY Change -84.07% 33.97% 11.8%
Inventory
Prepaid Expenses $2.627M
Receivables $27.58M $25.51M $16.27M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $240.5M $250.8M $169.8M
YoY Change 29.91% 47.71% 61.15%
LONG-TERM ASSETS
Property, Plant & Equipment $11.97M $11.28M $10.26M
YoY Change 15.62% 9.9% 660.79%
Goodwill $1.676M $1.676M $1.676M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $23.70M $23.70M $12.20M
YoY Change 69.29% 94.26% 5.17%
Other Assets $738.0K $723.0K $56.00K
YoY Change 939.44% 1191.07% 12.0%
Total Long-Term Assets $52.15M $41.66M $32.47M
YoY Change 46.55% 28.28% 149.75%
TOTAL ASSETS
Total Short-Term Assets $240.5M $250.8M $169.8M
Total Long-Term Assets $52.15M $41.66M $32.47M
Total Assets $292.7M $292.4M $202.2M
YoY Change 32.59% 44.59% 70.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.000M $6.400M $5.000M
YoY Change -1.96% 28.0% 25.0%
Accrued Expenses $28.10M $21.90M $7.100M
YoY Change 96.5% 208.45% -24.47%
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 $49.09M $39.54M $20.85M
YoY Change 66.81% 89.63% -13.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $9.100M $7.700M $7.100M
YoY Change 30.0% 8.45% 131.8%
Total Long-Term Liabilities $9.100M $7.700M $7.100M
YoY Change 30.0% 8.45% 131.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $49.09M $39.54M $20.85M
Total Long-Term Liabilities $9.100M $7.700M $7.100M
Total Liabilities $58.19M $47.20M $27.93M
YoY Change 59.58% 68.98% 3.07%
SHAREHOLDERS EQUITY
Retained Earnings -$24.72M $427.0K -$25.07M
YoY Change -5.76% -101.7% -73.04%
Common Stock $259.3M $244.8M $1.335M
YoY Change 23.17% 18236.63% 3.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $234.5M $245.2M $174.3M
YoY Change
Total Liabilities & Shareholders Equity $292.7M $292.4M $202.2M
YoY Change 32.59% 44.59% 70.89%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $20.53M $23.29M $10.62M
YoY Change 113.41% 119.22% -29.01%
Depreciation, Depletion And Amortization $300.0K $300.0K $200.0K
YoY Change 50.0% 50.0%
Cash From Operating Activities $45.00M $44.60M $24.00M
YoY Change 73.75% 85.83% 29.73%
INVESTING ACTIVITIES
Capital Expenditures -$1.000M -$1.200M -$900.0K
YoY Change 233.33% 33.33% -10.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$2.400M -$100.0K
YoY Change -100.0% 2300.0% -66.67%
Cash From Investing Activities -$1.000M -$3.700M -$900.0K
YoY Change -52.38% 311.11% -30.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -46.00M -18.30M -600.0K
YoY Change 364.65% 2950.0% -33.33%
NET CHANGE
Cash From Operating Activities 45.00M 44.60M 24.00M
Cash From Investing Activities -1.000M -3.700M -900.0K
Cash From Financing Activities -46.00M -18.30M -600.0K
Net Change In Cash -2.000M 22.60M 22.50M
YoY Change -114.39% 0.44% 38.04%
FREE CASH FLOW
Cash From Operating Activities $45.00M $44.60M $24.00M
Capital Expenditures -$1.000M -$1.200M -$900.0K
Free Cash Flow $46.00M $45.80M $24.90M
YoY Change 75.57% 83.94% 27.69%

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dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Terms Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward
Options are issued for terms of ten years
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
137833000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.24
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Registrant Name
EntityRegistrantName
WisdomTree Investments, Inc.
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.19
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
135527000 shares
us-gaap Operating Expenses
OperatingExpenses
120962000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-11278000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
1681000
dei Document Period End Date
DocumentPeriodEndDate
2015-09-30
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> <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 U.S. 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>
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
3742258 shares
dei Trading Symbol
TradingSymbol
WETF
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.44
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1606000
us-gaap Other Income
OtherIncome
744000
us-gaap Net Income Loss
NetIncomeLoss
59522000
us-gaap Revenues
Revenues
222453000
us-gaap Payments Of Dividends
PaymentsOfDividends
32867000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
23689000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1892000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
11353000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-9000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
7253000
us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
45706000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
59568000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
46000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
101491000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
551000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
106321000
us-gaap Straight Line Rent
StraightLineRent
26000
us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
221709000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
41969000
us-gaap Other Expenses
OtherExpenses
4364000
us-gaap Share Based Compensation
ShareBasedCompensation
7878000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
665000
us-gaap Business Development
BusinessDevelopment
6414000
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1357000
us-gaap Asset Management Costs
AssetManagementCosts
31895000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2529000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
46708000
us-gaap Labor And Related Expense
LaborAndRelatedExpense
57677000
us-gaap Professional Fees
ProfessionalFees
4637000
us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
-3906000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-52085000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
693000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
-77000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
7402000
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
10277000
us-gaap Communications Information Technology And Occupancy
CommunicationsInformationTechnologyAndOccupancy
3044000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4471000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
696000
us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
1330000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0
wetf Increase Decrease In Fund Management And Administration Payable
IncreaseDecreaseInFundManagementAndAdministrationPayable
1216000
wetf Dilutive Stock Options And Unvested Restricted Stock
DilutiveStockOptionsAndUnvestedRestrictedStock
2306000 shares
wetf Third Party Sharing Arrangements
ThirdPartySharingArrangements
1265000
wetf Cash And Cash Equivalents Criteria Maturity Period
CashAndCashEquivalentsCriteriaMaturityPeriod
P90D
wetf Letters Of Credit Decreased Amount
LettersOfCreditDecreasedAmount
1384000
wetf Net Operating Loss Amount Deemed Worthless
NetOperatingLossAmountDeemedWorthless
3487000
wetf Stock Option Issuance Period
StockOptionIssuancePeriod
P10Y
wetf Permanent Tax Differences
PermanentTaxDifferences
73922000
wetf Percentage Of Ownership Interest Held By Major Shareholders Prior To Acquisition
PercentageOfOwnershipInterestHeldByMajorShareholdersPriorToAcquisition
0.88 pure
wetf Noncash Income Tax Expense Benefit
NoncashIncomeTaxExpenseBenefit
40573000
wetf Temporary Tax Differences
TemporaryTaxDifferences
-14137000
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2014Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
624000 shares
CY2014Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.38 pure
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
138346000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
131778000 shares
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2014Q3 us-gaap Other Income
OtherIncome
172000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
10623000
CY2014Q3 us-gaap Revenues
Revenues
47114000
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
10614000
CY2014Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-9000
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
20257000
CY2014Q3 us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
46942000
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9634000
CY2014Q3 us-gaap Other Expenses
OtherExpenses
1123000
CY2014Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2077000
CY2014Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
113000
CY2014Q3 us-gaap Business Development
BusinessDevelopment
1279000
CY2014Q3 us-gaap Asset Management Costs
AssetManagementCosts
8465000
CY2014Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
778000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
26857000
CY2014Q3 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
3341000
CY2014Q3 us-gaap Communications Information Technology And Occupancy
CommunicationsInformationTechnologyAndOccupancy
882000
CY2014Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
9990000
CY2014Q3 us-gaap Professional Fees
ProfessionalFees
1383000
CY2014Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
207000
CY2014Q3 wetf Dilutive Stock Options And Unvested Restricted Stock
DilutiveStockOptionsAndUnvestedRestrictedStock
6568000 shares
CY2014Q3 wetf Third Party Sharing Arrangements
ThirdPartySharingArrangements
187000
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
243000 shares
CY2015Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.08
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
138181000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
136582000 shares
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
CY2015Q3 us-gaap Other Income
OtherIncome
233000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
23288000
CY2015Q3 us-gaap Revenues
Revenues
80753000
CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
23456000
CY2015Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
168000
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
39533000
CY2015Q3 us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
80520000
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16245000
CY2015Q3 us-gaap Other Expenses
OtherExpenses
1620000
CY2015Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2926000
CY2015Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
168000
CY2015Q3 us-gaap Business Development
BusinessDevelopment
2438000
CY2015Q3 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
852000
CY2015Q3 us-gaap Asset Management Costs
AssetManagementCosts
10519000
CY2015Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
906000
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
41220000
CY2015Q3 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
172000
CY2015Q3 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
3573000
CY2015Q3 us-gaap Communications Information Technology And Occupancy
CommunicationsInformationTechnologyAndOccupancy
1183000
CY2015Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
19407000
CY2015Q3 us-gaap Professional Fees
ProfessionalFees
1570000
CY2015Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
253000
CY2015Q3 wetf Dilutive Stock Options And Unvested Restricted Stock
DilutiveStockOptionsAndUnvestedRestrictedStock
1599000 shares
CY2015Q3 wetf Third Party Sharing Arrangements
ThirdPartySharingArrangements
485000

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