Wealthfront Corporation reported financial results for its fiscal second quarter ended July 31, 2026, announcing that its Total Platform Assets surpassed $100 billion as of the end of August. The company reported quarterly total revenue of $91.9 million, which increased 1% year-over-year. This growth was driven by a 12% year-over-year increase in Total Platform Assets to $99.0 billion at the end of the quarter.
Key financial metrics for the quarter included:
- GAAP Total Revenue: $91,874 thousand (1% increase YoY)
- GAAP Diluted Net Income: $17,562 thousand (down 49% YoY)
- GAAP Diluted EPS: $0.10 (down 59% YoY)
- Net Cash Provided by Operating Activities: $47,310 thousand (22% increase YoY)
- Adjusted EBITDA: $38,065 thousand (down 15% YoY)
- Adjusted Free Cash Flow: $28,293 thousand (down 27% YoY)
Wealthfront reported 1.51 million funded clients, a 14% year-over-year increase, and 1.97 million funded accounts, a 15% year-over-year increase. The company noted that the difference between revenue growth and asset growth was due to stronger growth in Investment Advisory Assets versus Cash Management Assets. Investment Advisory Assets were $54.1 billion, up 30% year-over-year, while Cash Management Assets were $44.9 billion, down 4% year-over-year.
During the quarter, Wealthfront repurchased 3.3 million shares for approximately $30 million. The company also announced the launch of Custodial Accounts to expand its family wealth management offerings. Additionally, Wealthfront Home Lending expanded to Colorado and California, with plans to expand to Washington, Florida, Illinois, and Oregon in the coming months.
