WisdomTree, Inc.

Greetings and welcome to the WisdomTree Q1 2025 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note, this conference is being recorded. I will now turn the conference over to your host, Jessica Zaloum, Head of Corporate Communications. Thank you. You may begin.

Good morning. Before we begin, I would like to reference our legal disclaimer available in today's presentation. This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. A number of factors could cause actual results to differ materially from the results discussed in forward-looking statements, including, but not limited to, the risks set forth in this presentation. in the risk factors section of the Wisentrie Annual Report on Form 10-K for the year ended December 31st, 2024, and in subsequent reports filed with or furnished to the Securities and Exchange Commission. Wisentrie assumes no duty and does not undertake to update any forward-looking statements. Now, it is my pleasure to turn the call over to Wisentrie CFO, Brian Edmiston.

Thank you, Jessica, and good morning, everyone. I'll begin by covering our first quarter results along with commentary on our forward-looking guidance before turning the call over to Jarrett and Jono for additional updates on our business. We ended the quarter with record AUM of $115.8 billion, up 5.5% from the prior quarter. Net inflows totaled $3 billion, reflecting an annualized organic growth rate of 11%, with contributions that were broad-based across our global product suite. In the U.S., we generated over $1.8 billion of inflows, including into our fixed income and U.S. equity product categories. Our digital money market fund also attracted $100 million of AUM during the quarter. In Europe, we generated over $1.1 billion of inflows, primarily into our USITS ETF suite, including 770 million of net inflows into our European Defense Fund, which was launched in March. We also benefited from positive market movement as favorable conditions and commodities helped offset headwinds in the U.S. market. Next slide. We generated 108 million of revenue during the quarter, down slightly from the fourth quarter due to two fewer trading days and a lower average fee capture offset by higher average AUM. Our revenues were 11.6% higher than the same period last year, driven by higher average AUM and higher other revenues attributable to our European listed products. Our adjusted net income for the quarter was 23 million, or 16 cents per share. These results were impacted by seasonal compensation including payroll taxes, benefits, and other items recognized in connection with year-end bonuses. Next slide. Our 2025 guidance remains largely unchanged versus what was communicated last quarter. Refer to our guidance update included in our earnings presentation for additional information. That's all I have. I'll now turn the call over to Jared.