WisdomTree, Inc.

Greetings and welcome to the WisdomTree Q3 2026 earnings call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. Should anyone require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Jessica Zaloom, 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 WisdomTree's Annual Report on Form 10-K, for the year ended December 31st, 2025, and in subsequent reports filed with or furnished to the Securities and Exchange Commission. WisdomTree assumes no duty and does not undertake to update any forward-looking statements. Now, it is my pleasure to turn the call over to WisdomTree CFO, Bryan Edmiston.

Thank you, Jessica, and good morning, everyone. I'll begin with the review of our third quarter results followed by updates to our forward-looking guidance before turning the call over to Jarrett, Will, and Jono for additional business updates. Our assets under management reached a record $171 billion at quarter end, marking our seventh consecutive quarter of record annual. Assets increased 5% from June 30th, driven by strong net inflows and favorable market conditions. All-time highs were achieved across our U.S., European, and on-chain businesses, reflecting continued growth across our global platform. During the quarter, we generated 4.6 billion of net inflows, with positive contributions across the firm, including 2.4 billion in the U.S., 1.7 billion in Europe, and 500 million from on-chain. Year-to-date net inflows totaled 13.6 billion, representing an annualized organic growth rate of approximately 13%. Loads remain broad-based across strategies and geographies with meaningful contributions from international equities, fixed income, commodities, and U.S. equities. The operating leverage inherent in our business model continues to translate into margin expansion both sequentially and year-over-year as record AUM and continued strong organic growth demonstrate the increasing earnings power of our business. We also remained active on capital management, retiring the remaining 18 million principal amount of our 2029 convertible notes using cash while repurchasing approximately 11 million of common stock during the quarter, representing roughly 500,000 shares. These actions further simplify our capital structure while also returning capital to shareholders. Overall, our strong organic growth and record AUM continue to drive greater scale and higher earnings, strengthening our ability to create long-term value for shareholders. Next slide. Revenues were $179.4 million during the quarter, an increase of 1% from the second quarter, driven by higher AUM partly offset by lower transaction fees from our European ETPs and lower performance fees. Revenues increased 43% from the prior year quarter and 49% year-to-date driven by higher AUM, elevated trading activity relative to the prior periods, and contributions from the Cirrus and Atlantic House acquisitions. Adjusted operating margins were 43.1% for the quarter and 41.8% year-to-date, representing 750 basis points of expansion from the comparable prior year period. This improvement underscores the operating leverage in our business model generated by strong revenue growth, including contributions from our recent acquisitions. Adjusted net income for the quarter was $49.5 million, or 32 cents per share. Next slide. Now a few comments on our forward looking guidance. Discretionary spending totaled 62.2 million year to date. We are updating our full year guidance to range from 83 to 87 million, reflecting a modest $2 million reduction to the high end of our previous range. We are also narrowing our third party distribution guidance to 21 to 23 million, having recognized 16.5 million year to date. Our interest income guidance is increased by 1 million to 9 million, reflecting our current expectations for interest earning assets. Finally, we expect fourth quarter diluted shares to range from 154 to 160 million shares, including incremental shares associated with our convertible notes, assuming an average stock price of $21 to $24 per share. Actual diluted shares may fall outside this range depending on our average share price during the quarter. As a reminder, our earnings presentation includes an illustration to help quantify the potential dilution associated with our convertible notes going forward. All other elements of our forward-looking guidance remain unchanged from last quarter. This concludes my remarks. I will now turn the call over to Jarrett.