WEALTHFRONT CORP — Form 8-K
Filed September 9, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 52/100
What the filing says
Wealthfront reported Q2 2027 results with total platform assets of $99.0B (up 12% YoY), 1.51M funded clients (up 14% YoY), and $1.1B in net deposits. However, total revenue was flat at $91.9M (up just 1% YoY), and GAAP diluted net income fell 49% to $17.6M ($0.10 EPS vs. $0.24 prior year), primarily due to $16.4M in stock-based compensation expense from post-IPO dual-trigger RSU vesting. Adjusted EBITDA declined 15% to $38.1M with margin compression to 41% from 49% YoY, driven by lower cash management fee rates (55 bps vs. 60 bps) amid rate cuts and higher product development spend on Home Lending. Adjusted free cash flow fell 27% to $28.3M. The company repurchased 3.3M shares (~$30M) and maintains $453M cash with no debt.
Why this rating
Material margin compression and earnings decline despite asset growth; SBC is non-cash but signals post-IPO dilution; home lending ramp absorbs earnings; moderate near-term headwind but long-term optionality unclear.
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