WisdomTree 10-Q: Q3 Net Income $49.2M, $68.9M Convertible-Note Loss, Q4 Share Guidance Raised
WT sits 78% above its 52-week low of $10.69.
Summary
WisdomTree's Q3 10-Q confirms the already-reported $179.4 million revenue and $0.32 EPS, and adds detail on a $68.9 million loss from retiring old convertible notes, $1.08 billion of new converts outstanding, and higher Q4 diluted share guidance of 156-160 million.
Key Events · Earnings and Guidance · WT
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Q3 Net Income Nearly Triples
Net income was $49.2 million, or $0.32 diluted EPS, versus $19.7 million a year earlier, on revenue of $179.4 million (up 42.8%) and record $171.0 billion AUM.
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$68.9M Loss on Convertible Retirements
Nine-month results include a $68.9 million loss: $16.9 million extinguishment on the 2026 Notes and $52.0 million induced-conversion expense on the 2029 Notes, plus a $131.0 million reduction to equity.
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Debt Stack Now $1.08B of Converts
After issuing $603.75 million of 4.50% 2031 Notes and retiring the 2026/2029 notes, $1,078.75 million remains outstanding across the 4.625% 2030 Notes ($475.0M) and 4.50% 2031 Notes ($603.75M); 11.0 million shares were issued in the March exchanges.
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Liquidity Rises to $225.3M
Available liquidity was $225.3 million at September 30, 2026 versus $143.1 million at December 31, 2025, after $542.5 million of convertible repurchases, $197.5 million for Atlantic House and $61.5 million of buybacks.
Analysis · WT · Crypto Assets
The quarter itself was pre-announced on October 30, so the revenue and EPS headlines are not new. What is new is the balance-sheet story underneath: WisdomTree spent the first nine months retiring its 3.25% 2026 and 2029 notes, booking a $68.9 million loss on the repurchases ($16.9 million extinguishment plus $52.0 million of induced-conversion expense) while issuing 11.0 million shares and $603.75 million of new 4.50% 2031 notes. It ends the period with $1,078.75 million of 4.625%/4.50% convertibles outstanding and $225.3 million of available liquidity, up from $143.1 million at year-end. The raised Q4 diluted share guidance of 156.0-160.0 million (from 152.0-155.0 million) tells holders the convertible overhang is now expected to dilute more than previously guided, which is the number that matters for per-share math.
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In the 30 days to Nov 6, 2026, 35.2% of the 2649 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, WT was trading at $19.01 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $2.9B. The 52-week trading range was $10.69 to $25.91. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.