$WT
WisdomTree, Inc.

2017 Q1 Form 10-Q Financial Statement

#000119312517162660 Filed on May 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $54.60M $60.88M
YoY Change -10.31% 1.23%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $37.82M $36.51M
YoY Change 3.59% -2.41%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $300.0K $300.0K
YoY Change 0.0% 50.0%
% of Gross Profit
Operating Expenses $39.78M $39.21M
YoY Change 1.46% 0.22%
Operating Profit
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.624M $1.632M
YoY Change -0.49% 32.15%
Pretax Income $14.82M $21.67M
YoY Change -31.61% 3.1%
Income Tax $7.942M $9.600M
% Of Pretax Income 53.58% 44.3%
Net Earnings $6.880M $12.07M
YoY Change -43.01% 0.08%
Net Earnings / Revenue 12.6% 19.83%
Basic Earnings Per Share $0.05 $0.09
Diluted Earnings Per Share $0.05 $0.09
COMMON SHARES
Basic Shares Outstanding 134.4M shares 135.5M shares
Diluted Shares Outstanding 135.5M shares 136.5M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $137.2M $159.8M
YoY Change -14.14% 5.34%
Cash & Equivalents $79.64M $210.1M
Short-Term Investments $57.60M
Other Short-Term Assets $534.0K $3.651M
YoY Change -85.37% 78.01%
Inventory
Prepaid Expenses $3.219M
Receivables $19.23M $20.70M
Other Receivables $0.00 $0.00
Total Short-Term Assets $164.2M $184.1M
YoY Change -10.8% 1.75%
LONG-TERM ASSETS
Property, Plant & Equipment $11.64M $12.05M
YoY Change -3.39% 18.69%
Goodwill $1.799M $3.475M
YoY Change -48.23% 107.34%
Intangibles $9.953M
YoY Change
Long-Term Investments $39.20M $22.60M
YoY Change 73.45% 4.63%
Other Assets $748.0K $763.0K
YoY Change -1.97% 819.28%
Total Long-Term Assets $66.94M $53.54M
YoY Change 25.03% 44.77%
TOTAL ASSETS
Total Short-Term Assets $164.2M $184.1M
Total Long-Term Assets $66.94M $53.54M
Total Assets $231.2M $237.7M
YoY Change -2.73% 9.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.000M $6.100M
YoY Change -1.64% 3.39%
Accrued Expenses $4.900M $5.100M
YoY Change -3.92% -54.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $28.73M $23.98M
YoY Change 19.81% -19.09%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.800M $9.800M
YoY Change -51.02% 36.11%
Total Long-Term Liabilities $4.800M $9.800M
YoY Change -51.02% 36.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.73M $23.98M
Total Long-Term Liabilities $4.800M $9.800M
Total Liabilities $33.57M $33.74M
YoY Change -0.5% -8.52%
SHAREHOLDERS EQUITY
Retained Earnings -$24.72M -$23.56M
YoY Change 4.92% -5.64%
Common Stock $222.2M $227.2M
YoY Change -2.2% 16485.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $197.6M $203.9M
YoY Change
Total Liabilities & Shareholders Equity $231.2M $237.7M
YoY Change -2.73% 9.05%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $6.880M $12.07M
YoY Change -43.01% 0.08%
Depreciation, Depletion And Amortization $300.0K $300.0K
YoY Change 0.0% 50.0%
Cash From Operating Activities $2.400M $6.800M
YoY Change -64.71% -59.76%
INVESTING ACTIVITIES
Capital Expenditures $193.0K $336.0K
YoY Change -42.56% 1580.0%
Acquisitions $11.82M
YoY Change
Other Investing Activities -$1.000M -$10.70M
YoY Change -90.65% 40.79%
Cash From Investing Activities -$1.200M -$11.00M
YoY Change -89.09% 42.86%
FINANCING ACTIVITIES
Cash Dividend Paid $10.93M $10.91M
YoY Change 0.16% 1.06%
Common Stock Issuance & Retirement, Net $3.628M $35.56M
YoY Change -89.8% 152.7%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -14.60M -46.40M
YoY Change -68.53% 104.41%
NET CHANGE
Cash From Operating Activities 2.400M 6.800M
Cash From Investing Activities -1.200M -11.00M
Cash From Financing Activities -14.60M -46.40M
Net Change In Cash -13.40M -50.60M
YoY Change -73.52% 274.81%
FREE CASH FLOW
Cash From Operating Activities $2.400M $6.800M
Capital Expenditures $193.0K $336.0K
Free Cash Flow $2.207M $6.464M
YoY Change -65.86% -61.71%

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CY2016Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-7055000
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
35555000
CY2016Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
11818000
CY2016Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-186000
CY2016Q1 us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
60615000
CY2016Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
10913000
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-46393000
CY2016Q1 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
-2879000
CY2016Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3594000
CY2016Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
373000
CY2016Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-22973000
CY2016Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
3832000
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9600000
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
6777000
CY2016Q1 us-gaap Other Expenses
OtherExpenses
1632000
CY2016Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
59000
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
336000
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
136457000 shares
CY2016Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
990000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
135467000 shares
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
75000
CY2016Q1 us-gaap Professional Fees
ProfessionalFees
2835000
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3503000
CY2016Q1 wetf Third Party Sharing Arrangements
ThirdPartySharingArrangements
907000
CY2016Q1 wetf Increase Decrease In Fund Management And Administration Payable
IncreaseDecreaseInFundManagementAndAdministrationPayable
-199000
CY2017Q1 dei Entity Registrant Name
EntityRegistrantName
WisdomTree Investments, Inc.
CY2017Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1549440 shares
CY2017Q1 dei Document Type
DocumentType
10-Q
CY2017Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000880631
CY2017Q1 dei Document Period End Date
DocumentPeriodEndDate
2017-03-31
CY2017Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-13085000
CY2017Q1 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
200000
CY2017Q1 us-gaap Business Development
BusinessDevelopment
2962000
CY2017Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
CY2017Q1 dei Amendment Flag
AmendmentFlag
false
CY2017Q1 us-gaap Asset Management Costs
AssetManagementCosts
9600000
CY2017Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.08
CY2017Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2017Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2017Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
262000
CY2017Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
337000
CY2017Q1 us-gaap Other Income
OtherIncome
1337000
CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
14822000
CY2017Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2017Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2017Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
7022000
CY2017Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2017Q1 us-gaap Communications Information Technology And Occupancy
CommunicationsInformationTechnologyAndOccupancy
1353000
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
142000
CY2017Q1 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
759000
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
39777000
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1241000
CY2017Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
17874000
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
6880000
CY2017Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.536 pure
CY2017Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-3538000
CY2017Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
6302000
CY2017Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2017Q1 us-gaap Revenues
Revenues
54599000
CY2017Q1 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
212000
CY2017Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1120000
CY2017Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-103000
CY2017Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
21000000
CY2017Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-127000
CY2017Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
51000
CY2017Q1 us-gaap Increase Decrease In Financial Instruments Sold Not Yet Purchased
IncreaseDecreaseInFinancialInstrumentsSoldNotYetPurchased
-1222000
CY2017Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1553000
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3628000
CY2017Q1 us-gaap Increase Decrease In Financial Instruments Used In Operating Activities
IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities
-1292000
CY2017Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-64000
CY2017Q1 us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
53262000
CY2017Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
21340000
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
10930000
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-14553000
CY2017Q1 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
177000
CY2017Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1247000
CY2017Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
245000
CY2017Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-9772000
CY2017Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
3537000
CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7942000
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
2447000
CY2017Q1 us-gaap Other Expenses
OtherExpenses
1624000
CY2017Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-120000
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
193000
CY2017Q1 wetf Cash And Cash Equivalents Criteria Maturity Period
CashAndCashEquivalentsCriteriaMaturityPeriod
P90D
CY2017Q1 wetf Third Party Sharing Arrangements
ThirdPartySharingArrangements
932000
CY2017Q1 wetf Increase Decrease In Fund Management And Administration Payable
IncreaseDecreaseInFundManagementAndAdministrationPayable
-400000
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3421000
CY2017Q1 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 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>
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
135509000 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P1Y
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
On June 20, 2016, the Company's stockholders approved a new equity award plan under which the Company can issue up to 10,000,000 shares of common stock (less one share for every share granted under prior plans since March 31, 2016 and inclusive of shares available under the prior plans as of March 31, 2016) in the form of stock options and other stock-based awards.
CY2017Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1124000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134385000 shares
CY2017Q1 dei Trading Symbol
TradingSymbol
WETF
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Terms Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward
Options may be issued for terms of ten years
CY2017Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5000
CY2017Q1 us-gaap Professional Fees
ProfessionalFees
1558000
CY2017Q1 wetf Operating Loss Carry Forward Expiration Year
OperatingLossCarryForwardExpirationYear
2024
CY2017Q1 wetf Cash Equivalents Maturity Period
CashEquivalentsMaturityPeriod
P90D
CY2017Q1 wetf Stock Option Issuance Period
StockOptionIssuancePeriod
P10Y
CY2017Q1 wetf Number Of Available For Securities Determined To Be Other Than Temporarily Impaired
NumberOfAvailableForSecuritiesDeterminedToBeOtherThanTemporarilyImpaired
0 Securities
CY2017Q1 wetf Deferred Tax Assets Operating Loss Carryforwards Net Of Tax
DeferredTaxAssetsOperatingLossCarryforwardsNetOfTax
2400000
CY2017Q1 wetf Number Of Securities Determined To Be Other Than Temporarily Impaired
NumberOfSecuritiesDeterminedToBeOtherThanTemporarilyImpaired
0 Securities
CY2017Q1 wetf Income Tax Expense Associated With Stock Compensation Shortfalls
IncomeTaxExpenseAssociatedWithStockCompensationShortfalls
1000000

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