Wealthfront Reports Fiscal Third Quarter 2026 Results with Record Revenue

Wealthfront Corporation (Nasdaq: WLTH) reported record total revenue of $93.2 million for the fiscal third quarter of 2026, covering the three months ended Oct. 31, 2025. Revenue rose 16% from $80.3 million in the year-ago period, while net income increased 3% to $30.9 million, producing a net income margin of 33%. GAAP diluted earnings per share were $0.21, compared with $0.22 a year earlier.

Total platform assets reached $92.8 billion, up 21% year over year. Cash management assets grew 14% to $47.0 billion, and investment advisory assets rose 31% to $45.8 billion. Net deposits for the quarter were $1.6 billion, and funded clients increased 20% to 1.38 million.

Adjusted EBITDA rose 24% to $43.8 million, with adjusted EBITDA margin expanding to 47% from 44%. Net cash provided by operating activities was $41.5 million, and free cash flow totaled $41.3 million, representing a free cash flow conversion ratio of 94%.

CEO David Fortunato said the company continued to execute in its core business, driving platform assets to a record despite a dynamic macro environment. He noted the quarter included the strongest net cross-account transfers from Cash Management to Investment Advisory in company history, alongside product launches such as Nasdaq-100 Direct and origination of Wealthfront's first home mortgage. CFO Alan Imberman cited the balance between Cash Management and Investment Advisory and said the company increased its revolving credit facility capacity from $50 million to $250 million.

During the quarter, Wealthfront launched Nasdaq-100 Direct, which it says is the first product to offer retail investors tax-loss harvesting while tracking the Nasdaq-100 Index, at a 0.12% annual advisory fee. It also originated its first home mortgage and introduced free instant wire transfers for Cash Management accounts. GAAP operating expenses rose 21% to $61.8 million, while adjusted operating expenses increased 11% to $53.7 million.