WLTH

This article first appeared on GuruFocus. Release Date: June 04, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Total platform assets grew 19% year-over-year to a record $96.6 billion. Investment advisory assets increased by 39% year-over-year, reaching $51.7 billion. Wealthfront Corp (NASDAQ:WLTH) ended the quarter with 1.46 million funded clients, up 15% year-over-year. The cross-product adoption incentive led to over 4,000 new account openings, boosting asset-weighted cross-product adoption to 63%. Investment advisory revenue rose by 32% year-over-year, driven by strong markets and net deposits. Cash management revenue decreased by 1% year-over-year due to a lower annualized cash management fee rate. Adjusted EBITDA margin decreased by 3 percentage points year-over-year to 41%. Total GAAP expenses increased by 46% year-over-year, partly due to higher product development expenses. Gross profit margin declined by 1 percentage point year-over-year, affected by startup expenses and higher costs. The annualized cash management fee rate dropped to 54 basis points by May end, impacted by a decline in the effective Fed fund rate. Warning! GuruFocus has detected 2 Warning Signs with WLTH. Is WLTH fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide more details on the new cross-product adoption incentive and its impact on account growth? A: David Fortunato, CEO, explained that the cross-product adoption incentive has led to over 4,000 new account openings, accounting for about 10% of new account growth in the quarter. Clients adopting the incentive tend to bring in a few thousand dollars more on average in net deposits. The incentive has also increased the adoption rate of investment accounts among clients who start with cash. Additionally, elevated organic traffic from large language models referencing Wealthfront has positively impacted client acquisition. Q: How is Wealthfront planning to integrate AI into its offerings, and what should we expect in the coming quarters? A: David Fortunato, CEO, emphasized that client trust is the foundation of Wealthfront's business. The company aims to use AI tools to build trust and improve client offerings. In the future, Wealthfront envisions providing holistic financial plans through digital solutions using natural language interfaces and financial models. The focus will be on incrementally releasing features that build client trust and enhance the business. Q: Can you clarify the cash management fee rate and its comparison to previous quarters? A: Alan Inberman, CFO, stated that the May end cash management fee rate was 54 basis points, considering the current rate incentives and the Fed funds rate. On an EFFR neutral basis, the rate would have been 56 basis points. The 54 basis points reflect a recent 2 basis point decline in the effective Fed funds rate. For comparison, the quarterly rate was 58 basis points. Q: What are the expectations for profit margins as Wealthfront continues to invest in new initiatives like mortgage lending? A: Alan Inberman, CFO, noted that prior to investing in home lending, EBITDA margins were around 45% to 47%. With the investment, margins are expected to be closer to 40% in the near term. As home lending ramps up, it will have a slightly lower margin profile, but it offers a large addressable market and helps Wealthfront evolve with its clients. The trade-off of margin for growth is considered worthwhile. Q: How is the competitive environment for deposits evolving, and what are the expectations for cash outflow trends? A: David Fortunato, CEO, mentioned that the competitive environment for deposits has become more conservative, with high-yield savings institutions and fintech players adjusting rates. Wealthfront's investor sentiment surveys indicate fluctuating investment sentiment, which impacts cash and investment flows. The company feels confident about its rate positioning and expects favorable cash trends in a stable rate environment, supported by strong cross-product adoption incentives. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Wealthfront? Here are five stocks we like better. Wealthfront posted solid Q1 growth, with revenue up 7% year over year to $90.5 million and total platform assets hitting a record $96.6 billion at quarter-end. Funded clients and accounts each rose 15% year over year, while investment advisory assets grew 39% to $51.7 billion. Profitability was pressured by new investments and product expansion, as gross margin slipped to 89% and adjusted EBITDA fell 1% year over year to $37.5 million. Management cited startup costs for Home Lending, higher money movement expenses, and ongoing product-development spending. Cross-product incentives and new lending offerings are gaining traction, with the direct-deposit incentive driving more than 4,000 new account openings and lifting cross-product adoption to about 63%. Wealthfront also continued expanding Home Lending and said its AI efforts will focus on automation while maintaining client trust. Wealthfront (NASDAQ:WLTH) reported higher year-over-year revenue and record platform assets in its fiscal first quarter, while management said the company continued to invest in product expansion, including home lending, cash management features and artificial intelligence-related capabilities. The company said fiscal first-quarter 2027 results reflected the quarter ended April 30, 2026. Total platform assets reached a record $96.6 billion at quarter-end, up 19% from a year earlier, according to Chief Executive Officer and President David Fortunato. Investment advisory assets rose 39% year-over-year to $51.7 billion, while cash management assets increased 3% to $44.9 billion. → Palantir’s Drone Tailwind Puts Its Defense AI Story Back in Focus for Investors Wealthfront ended the quarter with about 1.46 million funded clients, up 15% year-over-year, and roughly 1.9 million funded accounts, also up 15%. Fortunato said the company’s strategy remains focused on providing automated, low-fee personal finance tools to “digital natives” and using scale to reinvest in its product offerings. Chief Financial Officer and Treasurer Alan Imberman said revenue for the quarter was $90.5 million, up 7% year-over-year. Cash management revenue declined 1% to $63.4 million, reflecting a lower annualized cash management fee rate of 58 basis points, down four basis points from the prior year. Imberman said the decline was driven primarily by the lower Fed funds rate and the company’s new cross-product adoption incentive, which affected two months of the quarter. → Will the SpaceX IPO Put These 5 Public Space Stocks Into a Higher Orbit? Investment advisory revenue rose 32% year-over-year to $26.2 million, driven by average investment advisory balances of $50.2 billion, up 34%. The annualized investment advisory fee rate was roughly flat at 21 basis points. Gross profit was $80.5 million, up 6%, with gross margin of 89%, down about one percentage point. Imberman attributed the decline in part to startup expenses tied to Wealthfront Home Lending, higher money movement costs and increased data and other cost-of-revenue expenses. → Alphabet's $80 Billion Offering: Worrisome Dilution or AI Confidence? Total GAAP expenses rose 46% year-over-year to $75.9 million. Adjusted operating expenses, excluding share-based compensation, increased 16% to $58 million, mainly due to higher product development expense, including personnel-related costs and cloud computing expense. Adjusted EBITDA was $37.5 million, down 1% year-over-year, with an adjusted EBITDA margin of 41%, down three percentage points. Imberman said the margin performance was consistent with expectations, including continued investment in incentives and the rollout of Home Lending. GAAP net income was $12.8 million, and GAAP earnings per share were $0.07. Total net deposits were $554 million in the quarter. Fortunato said the figure included $577 million in cash management net withdrawals in April, primarily due to tax seasonality. He said the outcome was in line with the company’s prior expectation that April cash management net withdrawals would exceed the $538 million recorded in April of the previous year. Looking more broadly at March and April, which Wealthfront refers to as tax season, Fortunato said the company estimates clients made more than $3 billion in combined tax payments from Wealthfront cash accounts and linked external accounts. Clients directly paid tax authorities more than $500 million from Wealthfront cash accounts during tax season, up 40% year-over-year. Fortunato said the company views tax payments from cash accounts as a sign of growing trust in its liquidity offerings. He also pointed to increased use of Wealthfront’s Portfolio Line of Credit, saying tax payments funded with PLOC balances were up roughly two times year-over-year. The company recently introduced dynamic withdrawal limits, increasing client-specific limits up to $1 million per account. Fortunato said the higher limits allowed more clients to satisfy tax obligations in a single payment from cash accounts. Management highlighted early results from a cross-product adoption incentive launched in early March. The program gives clients who direct deposit at least $1,000 per month and fund an investment account an ongoing 25-basis-point increase to their cash APY. Fortunato said the incentive directly led to more than 4,000 new account openings and helped push asset-weighted cross-product adoption to about 63% as of the end of May, up roughly 1.5 percentage points from the level immediately before launch at the end of February. During the question-and-answer session, Fortunato said clients adopting the direct deposit incentive tend to bring “a few thousand dollars more” on an average net deposit basis. He also said recent cohorts that start with cash are adopting investment accounts at higher rates than before. In response to an analyst question about the economics of the incentive, Imberman said it was too early to provide specific payback periods, but noted that Wealthfront remains profitable on clients using the incentive because they bring cash management assets and investment advisory revenue. Wealthfront Home Lending added a second takeout investor during the quarter and launched general availability in Colorado in early April and Texas in early May. Fortunato said the company is applying a similar strategy to home lending as it has in cash and investing: using technology to deliver a digital experience, better rates and transparent fees. Fortunato said Wealthfront continues to aim to provide mortgage rates at least 50 basis points better than the national average on average in the states where it operates. He said rate lock volume increased roughly 25% month-over-month in May despite rising mortgage rates. Management said the rollout remains deliberate as the company gathers data and improves automation. Fortunato said the company is focused on automating decisioning for client pre-qualifications, from application intake through approval. In Q&A, he noted that higher mortgage rates may require the company to expand more broadly to generate enough volume for product learnings, while also shifting demand toward purchase activity and away from refinancing. Wealthfront published May metrics showing total platform assets reached another month-end record of $99 billion. Total net deposits in May were $447 million, including $342 million in investment advisory and $140 million in cash management. Imberman said May also produced the strongest month in total cross-product flow from cash to investing since January 2026. The company repurchased 3.1 million shares for roughly $27 million during the quarter under a $100 million share repurchase authorization, at an average price of $8.66 per share. Wealthfront ended the quarter with $428 million in cash and cash equivalents, excluding temporary client funding receivables. Management also addressed artificial intelligence, with Fortunato saying AI has played and will continue to play a role in Wealthfront’s goal of automating and improving the personal finance experience. He said the company is entering a phase of experimenting and testing AI solutions with clients, while emphasizing that any new tools must support client trust. “It’s not very difficult to build tools using large language models that provide automated financial advice to clients,” Fortunato said during Q&A. “What is more difficult and more important from our perspective is to use those tools in a way that achieves the trust-building objectives that we have.” Wealthfront (NASDAQ:WLTH) is a technology-driven wealth management firm that provides automated investment services to individual investors. Operating as a robo-advisor, the company uses algorithms and software to construct and manage diversified portfolios largely composed of low-cost exchange-traded funds (ETFs). Its platform is geared toward long-term, goal-based investing with an emphasis on passive strategies, automated rebalancing and straightforward user experience delivered through web and mobile applications. The company’s product suite includes automated portfolio management, tax-loss harvesting and goal-planning tools that help clients set and track financial objectives. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Wealthfront Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for June 2026.

Revenue of $90.5 million up 7% year-over-yearTotal Platform Assets up 19% year-over-year to a record $96.6 billion PALO ALTO, Calif., June 04, 2026 (GLOBE NEWSWIRE) -- Wealthfront Corporation (Nasdaq: WLTH), a tech-driven financial platform helping digital natives turn their savings into wealth, announced financial results for its fiscal first quarter ended April 30, 2026. David Fortunato - CEO, President & Director: “We shipped significant enhancements throughout the quarter, including expanded access to Wealthfront Home Lending and improvements to our Cash Management and Investment Advisory products. Our Cash Accounts supported a significantly larger dollar volume of direct client tax payments this past tax season, reflecting the growing trust our clients place in us to seamlessly handle their largest liquidity needs. We ended the quarter with record Total Platform Assets of $96.6 billion despite a dynamic macroeconomic environment and are confident our diverse product suite puts us in a strong position for the long-term.” Alan Imberman - CFO & Treasurer: “We delivered another strong quarter of adjusted free cash flow while continuing to invest in the business. This includes offering a new cross-product adoption incentive, which helped drive the best quarter of new Investment Advisory account openings since the quarter ended January 31, 2025. Our adjusted free cash flow supported our inaugural share repurchase program, which included opportunistic buybacks of over 3 million shares at an average price of $8.66 equating to over $27 million of total open market repurchases in the quarter.” Fiscal First Quarter 2027 Results Summary F1Q27 Financial Highlights Quarterly total revenue of $90.5 million increased 7% year-over-year primarily due to a 19% year-over-year increase in Total Platform Assets to $96.6 billion. The difference between revenue growth and Total Platform Asset growth was due to stronger growth in Investment Advisory Assets versus that of higher-fee Cash Management Assets. Investment Advisory Assets of $51.7 billion, which were up 39% year-over-year and Cash Management Assets of $44.9 billion, which were up 3% year-over-year. Total Platform Asset growth included Total Net Deposits of $0.6 billion in the quarter. Funded Clients of 1.46 million grew 15% year-over-year. Funded Accounts of 1.90 million also grew 15% year-over-year. GAAP expenses of $75.9 million increased from $51.9 million in the prior year quarter, with the increase due primarily to higher stock-based compensation (SBC) expense and higher product development expense. SBC expense was $17.1 million in the quarter versus $1.9 million in the prior year quarter, with this increase due primarily to the recognition of dual-trigger stock awards following the IPO. Adjusted operating expenses of $58.0 million increased 16% year-over-year primarily due to higher adjusted product development expense. The increase in adjusted product development expense was primarily due to higher personnel-related expenses which were, primarily due to increased headcount, and higher cloud computing expense. GAAP diluted net income of $12.8 million decreased from $25.9 million in the prior year quarter with the decline due to higher GAAP expenses as a result of higher SBC expense from the recognition of dual-trigger stock awards following the IPO. GAAP diluted net income margin was 14%, a decrease from 31% in the prior year quarter driven primarily by the same SBC impact noted above. GAAP diluted EPS was $0.07 compared to $0.18 in the prior year quarter driven primarily by higher SBC expense tied to the recognition of dual-trigger stock awards following the IPO. Adjusted EBITDA1 of $37.5 million declined 1% year-over-year. Adjusted EBITDA margin1 was 41%, compared to 45% for the prior year quarter. Net cash provided by operating activities was $22.7 million and Adjusted free cash flow1 was $42.7 million. Adjusted free cash flow conversion ratio1 was 114% for the three months ended April 30, 2026. 1 Non-GAAP measure. Wealthfront’s reasons for use of the non-GAAP measure and a detailed reconciliation between the non-GAAP measure and the comparable GAAP amount are included at the end of this document in the section labeled ‘Non-GAAP Reconciliations’. F1Q27 Business Highlights Launched a cross-product adoption incentive in early March to deepen client relationships. This incentive provides clients that direct deposit at least $1,000 per month as well as fund an investment account with an ongoing 25 basis point increase to their Cash Account annual percentage yield (APY). This helped drive asset-weighted cross-product adoption to roughly 62.5% at the end of the quarter, up over one percentage point quarter-over-quarter and aided in the strongest quarter of investment account sign-ups since the fiscal quarter ended January 31, 2025. Launched general availability of Wealthfront Home Lending in Colorado in early April and Texas in early May. Wealthfront Home Lending intends to deliver a better digital home mortgage experience with below market rates and transparent fees. By building a fully digital product, removing unnecessary steps, and automating away most overhead, Wealthfront Home Lending aims to consistently offer rates at least 50 basis points below the national average. During the quarter, we onboarded a second takeout investor, creating multi-investor support and more options to secure low rates for our clients. Bolstered the Cash Management account experience with the launch of Cash Category Goals and recurring Cash-to-Category transfers. Cash Category Goals allow clients to more easily track their progress towards personalized financial targets within specific Cash sub-accounts. Our new recurring Cash-to-Category transfers feature provides clients another option to better achieve their goals on an automated basis. Added one-tap-to-invest to the Stock Investing Account to streamline the purchase and sale of individual stocks and ETFs. The Stock Investing Account remains one of the most popular investment accounts among younger clients. The improved Stock Investing Account along with the Automated Investing Account, Automated Bond Portfolios, Automated Bond Ladders, and direct index offerings represent a robust suite of investment products that provide both delegator and self-directed clients a broad set of options across a variety of macroeconomic environments. Conference Call Wealthfront’s executive management team will host a live audio webcast beginning at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) today to discuss the quarter’s financial results and business highlights. The live webcast as well as the earnings press release and earnings presentation can be found at https://ir.wealthfront.com. Following the call, a replay of the webcast will be available on the Wealthfront Investor Relations website. About Wealthfront Wealthfront is a tech-driven financial platform helping digital natives turn their savings into wealth. Since pioneering the automated investing category in 2011, the company has grown into a leading consumer fintech that helps clients achieve their financial goals with innovative saving, investing, borrowing, and lending products. Wealthfront’s expanding suite of high-quality, low-cost offerings helps digital natives earn more on their savings, borrow at lower rates, and keep more of their returns. To learn more and get started, visit www.wealthfront.com or download the Wealthfront app. Contacts Investors: [email protected] Press: [email protected] Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements contained in this press release other than statements of historical fact, including statements regarding Wealthfront’s future operating results and financial condition, its business strategy and plans, market growth, and its objectives for future operations, are forward-looking statements. The words “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are made as of the date they were first issued and are based on information available to Wealthfront together with Wealthfront’s expectations, estimates, forecasts, projections, beliefs, and assumptions as of such date. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Wealthfront’s control. Wealthfront’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors. Further information on potential risks that could affect actual results is included in Wealthfront’s most recent filings with the Securities and Exchange Commission (the “SEC”), including in our Annual Report on Form 10-K for the fiscal year ended January 31, 2026 filed with the SEC on April 24, 2026 and our most recent Quarterly Report on Form 10-Q, copies of which may be obtained by visiting Wealthfront’s Investor Relations website at https://ir.wealthfront.com or the SEC's website at https://www.sec.gov. Past performance is not necessarily indicative of future results. Wealthfront undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Forward-looking statements should not be relied upon as representing Wealthfront’s views as of any date subsequent to the date of this press release. Additional Information We announce material information to the public through filings with the SEC, the investor relations page on our website (ir.wealthfront.com), press releases, public conference calls, public webcasts, and our social media accounts on X and LinkedIn in order to achieve broad, non-exclusionary distribution of information to the public and for complying with our disclosure obligations under Regulation FD. The content of our websites and information that we may post on or provide to online and social media channels, including those mentioned above, and information that can be accessed through our websites or these online and social media channels are not incorporated by reference into this presentation or in any report or document we file with the SEC, and any references to our websites or these online and social media channels are intended to be inactive textual references only. Non-GAAP Financial Measures We collect and analyze operating and financial data to evaluate the health of our business, allocate our resources, and assess our performance. In addition to total revenue, net income (loss) and other results under GAAP, we utilize non-GAAP calculations of adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”). Adjusted EBITDA is defined as net income (loss), excluding: (i) interest expenses, (ii) provision for (benefit from) income taxes, (iii) depreciation and amortization, (iv) stock-based compensation expense, (v) change in fair value of the convertible note, warrant liabilities, and SAFEs, and (vi) nonrecurring expenses, if any. The above items are excluded from our Adjusted EBITDA measure because these items are non-cash in nature, or because the amount and timing of these items is unpredictable, are not driven by core results of operations and render comparisons with prior periods and competitors less meaningful. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenue. We believe Adjusted EBITDA and Adjusted EBITDA Margin provide useful information to investors and others in understanding and evaluating our results of operations, as well as providing a useful measure for period-to-period comparisons of our business performance. Moreover, we have included Adjusted EBITDA and Adjusted EBITDA Margin in this press release because they are key measurements used by our management internally to make operating decisions, including those related to operating expenses, evaluate performance, identify trends affecting our business and perform strategic planning and annual budgeting. Adjusted Free Cash Flow reflects net cash provided from operating activities, less (i) purchases of property, software, and equipment and (ii) capitalized internally developed software, plus (i) the change in temporary client funding receivables, which include (a) the change in direct deposit receivables and (b) the change in instant withdrawal receivables. We believe Adjusted Free Cash Flow allows investors to evaluate the cash generated from our underlying operations in a manner similar to the method used by management. However, the utility of Adjusted Free Cash Flow as a measure of our liquidity is limited as it does not represent the total increase or decrease in our cash balance for a given period. Adjusted Free Cash Flow Conversion reflects 1) Adjusted Free Cash Flow divided by 2) Adjusted EBITDA. Adjusted Operating Expenses reflect GAAP operating expenses, less (i) stock-based compensation expense and (ii) nonrecurring expenses, if any. The above items are excluded from our Adjusted Operating Expenses because these items are non-cash in nature, or because the amount and timing of these items is unpredictable, are not driven by core results of operations and render comparisons with prior periods and competitors less meaningful. Please refer to the Appendix for a reconciliation of each non-GAAP financial measure presented herein to the most directly comparable financial measure stated in accordance with GAAP. Key Business Metrics Platform assets: We define “platform assets” as the total value of financial assets held by clients in their accounts as of a stated date on our platform. Net deposits and changes in value attributable to financial market performance are included in the change in platform assets in any given period. We further break down platform assets into two categories of products: cash management and investment advisory. Net deposits: We define “net deposits” as the value of all assets clients have placed into products on our platform, net of withdrawals, over a defined period of time. We exclude changes in value attributable to financial market performance from this metric. We view net deposits as an important barometer of our ability to scale and grow organically and accumulate assets onto our platform. We view the relevant metric as net deposits on a platform-wide basis, not by individual product. Although net deposits can vary by product based on the economic environment, total net deposits provides a more comprehensive view of our growth because our platform offers diverse financial products that are designed to perform under a wide range of economic conditions, allowing the business to maintain resilience and increase total platform assets across market cycles and through extraordinary events. Funded clients: We define “funded clients” as clients with balances greater than zero or that have been greater than zero on at least one occasion during the 45 consecutive calendar days ending as of the measurement date. Funded clients include clients with a zero balance across all accounts as of the measurement date if they had greater than zero balances in at least one account within 45 calendar days prior to the measurement date. Individuals who shared funded joint accounts are each considered to be a separate funded client. The number of funded clients is as of a stated date and reflects our scale and monetization potential. Funded accounts: We define “funded accounts” as accounts with balances greater than zero or that have been greater than zero on at least one occasion during the 45 consecutive calendar days ending as of the measurement date. Funded accounts include accounts with a zero balance as of the measurement date if they had greater than zero balances within 45 calendar days prior to the measurement date. A shared funded joint account is considered a single funded account. The number of funded accounts is as of a stated date and reflects our scale and monetization potential. Stock-Based Compensation by Type The following tables present reconciliations of GAAP to non-GAAP measures disclosed within this document. Adjusted Operating Expenses Adjusted EBITDA & Adjusted EBITDA Margin Adjusted Free Cash Flow & Adjusted Free Cash Flow Conversion

Record annual revenue of $365.0 million in the fiscal year ending January 31, 2026, including a quarterly record of $96.1 million in the fiscal fourth quarter ending January 31, 2026 Total Platform Assets up 17% year-over-year to a record $94.1 billion PALO ALTO, Calif., March 11, 2026 (GLOBE NEWSWIRE) -- Wealthfront Corporation (Nasdaq: WLTH), a tech-driven financial platform helping digital natives turn their savings into wealth, announced financial results for its fiscal fourth quarter and full year ended January 31, 2026. David Fortunato - CEO, President & Director: “We capped off a milestone year in the fourth quarter as we went public and drove another quarter-end record in Total Platform Assets due in large part to a second consecutive record quarter in net cross account transfers from Cash Management to Investment Advisory. We continued to expand our product suite in our effort to optimize client financial outcomes including with the launch of early access to Wealthfront Home Lending, the initial rollout of the Wealthfront Treasury Money Market Fund, and further enhancements to our core Investment Advisory and Cash Management offerings.” Alan Imberman - CFO & Treasurer: “Fiscal 2026 was a banner year in which we drove record Platform Assets, Revenue, and Adjusted EBITDA contributing to strong cash generation that resulted in corporate cash balances ending January above $440 million. Fiscal 2027 is off to a strong start with total net deposit growth in February amidst a dynamic macro-environment. In March, our board of directors authorized a $100 million share repurchase program. Given the multi-decade opportunity to compound wealth with new and existing clients, we view our shares as attractive at current levels.” Fiscal Fourth Quarter and Full Year 2026 Results Summary 1 Non-GAAP measure. Wealthfront’s reasons for use of the non-GAAP measure and a detailed reconciliation between the non-GAAP measure and the comparable GAAP amount are included at the end of this document in the section labeled ‘Non-GAAP Reconciliations’. F4Q26 Financial Highlights Quarterly total revenue of $96.1 million increased 16% year-over-year primarily driven by a 17% year-over-year increase in Total Platform Assets to $94.1 billion. This includes Investment Advisory Assets of $48.7 billion, which were up 29% year-over-year and Cash Management Assets of $45.4 billion, which were up 7% year-over-year. Change in Total Platform Assets included Total Net Deposits of $6.7 billion in the year and $(360) million in the quarter. Funded Clients of 1.42 million grew 17% year-over-year. Funded Accounts of 1.84 million grew 16% year-over-year. GAAP expenses of $310.7 million compared to $51.8 million in the prior year quarter, with the increase due primarily to higher stock-based compensation (SBC) expense primarily tied to one-time, IPO-related SBC expense of $239.0 million. Adjusted operating expenses of $57.1 million increased 15% year-over-year due to higher product development expense, partially offset by lower marketing expense. GAAP diluted net income (loss) of $(134.8) million compared to $32.1 million in the prior year quarter with the decline due to higher GAAP expenses primarily tied to one-time, IPO-related SBC expense of $239.0 million. GAAP diluted net income margin was (140)%, compared to 39% in the prior year quarter with the decrease primarily driven by one-time, IPO-related SBC expense. GAAP diluted EPS was $(1.31) compared to $0.23 in the prior year quarter driven primarily by one-time, IPO-related SBC expense. Adjusted EBITDA1 of $44.2 million grew 22% year-over-year. Adjusted EBITDA margin1 was 46%, compared to 44% for the prior year quarter. We expect Adjusted EBITDA margins to decline sequentially but remain above 40% for the fiscal first quarter 2027. Net cash provided by operating activities was $33.3 million and Free cash flow1 was $33.0 million. Free cash flow conversion ratio1 was 75% for the three months ended January 31, 2026 and 88% in the twelve months ended January 31, 2026. F2026 Financial Highlights Annual total revenue of $365.0 million increased 18% year-over-year. Annual GAAP expenses of $476.2 million compared to $187.4 million in the prior year with the increase due to higher SBC expense primarily tied to one-time, IPO-related SBC expense of $239.0 million. Annual adjusted operating expenses of $211.1 million increased 19% year-over-year due to higher product development and general & administrative expense, partially offset by lower marketing expense. Annual GAAP diluted net income (loss) of $(43.2) million compared to $181.8 million in the prior year due to the one-time impact of IPO-related SBC expense of $239.0 million. Annual GAAP diluted net income margin was (12)%, compared to 59% in the prior year with the decrease primarily driven by the same factors. Annual GAAP diluted EPS was $(0.76) down year-over-year compared to $1.31 in the prior year due primarily to the one-time impact of IPO-related SBC expense. Annual adjusted EBITDA1 of $170.7 million grew 20% year-over-year. Annual adjusted EBITDA margin1 was 47%, compared to 46% for the twelve months ended January 31, 2025. F4Q26 Business Highlights Generated a second consecutive record quarter of net cross account transfers from Cash Management to Investment Advisory amidst a Cash-to-Invest transition environment. This helped drive annualized organic growth2 in Investment Advisory to 11% in the quarter, with monthly annualized organic growth accelerating throughout the period, ending at 15% in January. Increased the base Annual Percentage Yield (APY) on the Wealthfront Cash Account by five basis points to 3.30% effective January 30, 2026, as a result of the effective federal funds rate (EFFR) stabilizing at a higher rate within its target range. This industry-leading APY reflects the company’s ongoing commitment to sharing structural efficiencies and higher yields directly with its clients, further bolstering the value proposition of the Wealthfront Cash Account as the primary home for digital native clients' uninvested cash and savings. Launched early access to Wealthfront Home Lending, which is intended to deliver a digitally seamless home mortgage experience with low, transparent rates and no hidden fees. The company began a measured rollout to clients in November, starting in Colorado and having since expanded to Texas and California, with a full rollout in those states as well as early access in additional states expected to come later this year. Rolled out the Wealthfront Treasury Money Market Fund (WLTXX), a proprietary fund intended to improve after-tax returns through a low-risk, highly liquid investment vehicle and offered at a competitive 0.25% expense ratio. The fund invests primarily in U.S. Treasury securities, offering clients a Cash Management option whose interest is generally exempt from state and local taxes. The fund was initially released to select clients in December with a full rollout scheduled to be completed in March. Took further steps in making the Wealthfront Cash account the best cash account experience for young professional savers including the introduction of a comprehensive transaction search function, real-time debit card notifications for both individual and joint accounts, and increased daily withdrawal limits up to $1 million for qualified clients. The company also bolstered the interoperability of the Cash Management and Investment Advisory accounts, including the introduction of auto dividend sweeps from Investment Advisory accounts to Cash Management accounts. 1 Non-GAAP measure. Wealthfront’s reasons for use of the non-GAAP measure and a detailed reconciliation between the non-GAAP measure and the comparable GAAP amount are included at the end of this document in the section labeled ‘Non-GAAP Reconciliations’. 2 Annualized organic growth is calculated as total net deposits in a given period, multiplied by an annualization factor based on actual day counts in that period, divided by prior period ending assets. Conference Call Wealthfront’s executive management team will host a live audio webcast beginning at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) today to discuss the quarter and full-year’s financial results and business highlights. The live webcast as well as the earnings press release and earnings presentation can be found at https://ir.wealthfront.com. Following the call, a replay of the webcast will be available on the Wealthfront Investor Relations website. About Wealthfront Wealthfront is a tech-driven financial platform helping digital natives turn their savings into wealth. Since pioneering the automated investing category in 2011, the company has grown into a leading consumer fintech that helps clients achieve their financial goals with innovative saving, investing, borrowing, and lending products. Wealthfront’s expanding suite of high-quality, low-cost offerings helps digital natives earn more on their savings, borrow at lower rates, and keep more of their returns. To learn more and get started, visit www.wealthfront.com or download the Wealthfront app. Contacts Investors: [email protected] Press: [email protected] Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements contained in this press release other than statements of historical fact, including statements regarding Wealthfront’s future operating results and financial condition, its business strategy and plans, market growth, and its objectives for future operations, are forward-looking statements. The words “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are made as of the date they were first issued and are based on information available to Wealthfront together with Wealthfront’s expectations, estimates, forecasts, projections, beliefs, and assumptions as of such date. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Wealthfront’s control. Wealthfront’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors. Further information on potential risks that could affect actual results is included in Wealthfront’s most recent filings with the Securities and Exchange Commission (the “SEC”), including in our most recent Form 10-Q, copies of which may be obtained by visiting Wealthfront’s Investor Relations website at https://ir.wealthfront.com or the SEC's website at https://www.sec.gov. Past performance is not necessarily indicative of future results. Wealthfront undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Forward-looking statements should not be relied upon as representing Wealthfront’s views as of any date subsequent to the date of this press release. Additional Information We announce material information to the public through filings with the SEC, the investor relations page on our website (ir.wealthfront.com), press releases, public conference calls, public webcasts, and our social media accounts on X, Instagram, Facebook, and LinkedIn in order to achieve broad, non-exclusionary distribution of information to the public and for complying with our disclosure obligations under Regulation FD. The content of our websites and information that we may post on or provide to online and social media channels, including those mentioned above, and information that can be accessed through our websites or these online and social media channels are not incorporated by reference into this presentation or in any report or document we file with the SEC, and any references to our websites or these online and social media channels are intended to be inactive textual references only. Non-GAAP Financial Measures We collect and analyze operating and financial data to evaluate the health of our business, allocate our resources, and assess our performance. In addition to total revenue, net income (loss) and other results under GAAP, we utilize non-GAAP calculations of adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”). Adjusted EBITDA is defined as net income (loss), excluding: (i) interest expenses, (ii) provision for (benefit from) income taxes, (iii) depreciation and amortization, (iv) stock-based compensation expense, (v) change in fair value of the convertible note, warrant liabilities, and SAFEs, and (vi) nonrecurring expenses, if any. The above items are excluded from our Adjusted EBITDA measure because these items are non-cash in nature, or because the amount and timing of these items is unpredictable, are not driven by core results of operations and render comparisons with prior periods and competitors less meaningful. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenue. We believe Adjusted EBITDA and Adjusted EBITDA Margin provide useful information to investors and others in understanding and evaluating our results of operations, as well as providing a useful measure for period-to-period comparisons of our business performance. Moreover, we have included Adjusted EBITDA and Adjusted EBITDA Margin in this press release because they are key measurements used by our management internally to make operating decisions, including those related to operating expenses, evaluate performance, identify trends affecting our business and perform strategic planning and annual budgeting. Free Cash Flow reflects net cash provided from operating activities, less (i) purchases of property, software, and equipment and (ii) capitalized internally developed software. We believe Free Cash Flow allows investors to evaluate the cash generated from our underlying operations in a manner similar to the method used by management. However, the utility of Free Cash Flow as a measure of our liquidity is limited as it does not represent the total increase or decrease in our cash balance for a given period. Free Cash Flow Conversion reflects 1) Free Cash Flow divided by 2) Adjusted EBITDA. Adjusted Operating Expenses reflect GAAP operating expenses, less (i) stock-based compensation expense and (ii) nonrecurring expenses, if any. The above items are excluded from our Adjusted Operating Expenses because these items are non-cash in nature, or because the amount and timing of these items is unpredictable, are not driven by core results of operations and render comparisons with prior periods and competitors less meaningful. Please refer to the Appendix for a reconciliation of each non-GAAP financial measure presented herein to the most directly comparable financial measure stated in accordance with GAAP. Key Business Metrics Platform assets: We define “platform assets” as the total value of financial assets held by clients in their accounts as of a stated date on our platform. Net deposits and changes in value attributable to financial market performance are included in the change in platform assets in any given period. We further break down platform assets into two categories of products: cash management and investment advisory. Net deposits: We define “net deposits” as the value of all assets clients have placed into products on our platform, net of withdrawals, over a defined period of time. We exclude changes in value attributable to financial market performance from this metric. We view net deposits as an important barometer of our ability to scale and grow organically and accumulate assets onto our platform. We view the relevant metric as net deposits on a platform-wide basis, not by individual product. Although net deposits can vary by product based on the economic environment, total net deposits provides a more comprehensive view of our growth because our platform offers diverse financial products that are designed to perform under a wide range of economic conditions, allowing the business to maintain resilience and increase total platform assets across market cycles and through extraordinary events. Funded clients: We define “funded clients” as clients with balances greater than zero or that have been greater than zero on at least one occasion during the 45 consecutive calendar days ending as of the measurement date. Funded clients include clients with a zero balance across all accounts as of the measurement date if they had greater than zero balances in at least one account within 45 calendar days prior to the measurement date. Individuals who shared funded joint accounts are each considered to be a separate funded client. The number of funded clients is as of a stated date and reflects our scale and monetization potential. Funded accounts: We define “funded accounts” as accounts with balances greater than zero or that have been greater than zero on at least one occasion during the 45 consecutive calendar days ending as of the measurement date. Funded accounts include accounts with a zero balance as of the measurement date if they had greater than zero balances within 45 calendar days prior to the measurement date. A shared funded joint account is considered a single funded account. The number of funded accounts is as of a stated date and reflects our scale and monetization potential. Stock-Based Compensation by Type 1 Average balance rows represent the average of the beginning of period and end of period balances. 2 Annualized cash management fee rate and Annualized investment advisory fee rate is calculated by annualizing revenue for the given period and dividing by the simple average asset balance presented. The following tables present reconciliations of GAAP to non-GAAP measures disclosed within this document. Adjusted Operating Expenses Adjusted EBITDA & Adjusted EBITDA Margin Free Cash Flow & Free Cash Flow Conversion