Company: WLTH
Filing Date: 2025-12-02
Form Type: S-1/A
Source: 0001628280-25-054592
Chunk: 200

Company: WEALTHFRONT CORP
Filing Date: 2025-12-02
Form: S-1/A
Chunk 200
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 other cost of revenue due primarily to increased data costs and amortization of internally developed software.

Product Development

Product development expenses have generally increased sequentially in each of the periods presented, other than the third and fourth quarter of fiscal 2024, primarily due to an increase in personnel-related expenses due to increased headcount.

General and Administrative

General and administrative expenses have generally increased sequentially in each of the periods presented, other than the second quarter of 2024, the fourth quarter of fiscal 2025, and second quarter of fiscal 2026, primarily due to an increase in professional fees.

Marketing

Marketing expenses increased sequentially through the third quarter of fiscal 2025, which was followed by sequential decreases through the second quarter of fiscal 2026, primarily due to an increase in advertising expenses, including performance and brand advertising, client referral expenses, and consulting costs related to a brand awareness campaign.

Operations and Support

Operations and support expenses have generally increased sequentially in each of the periods presented, other than the second quarter of fiscal 2024, the fourth quarter of fiscal 2024, and second quarter of fiscal 2026, primarily due to an increase in personnel-related expenses due to increased headcount.

Upon the closing of this offering, we expect to recognize a significant non-cash cumulative stock-based compensation charge for RSUs for which the service-based vesting condition has been satisfied, which will affect all costs and operating expenses, except for Cost of Revenue. We also expect stock-based compensation to increase annually thereafter.

#### Interest Expense
|                  | (in thousands) |   | April 30, 2023 |     |   | July 31, 2023 |     |   | October 31, 2023 |     |   | January 31, 2024 |     |   | April 30, 2024 |     |   | July 31, 2024 |     |   | October 31, 2024 |     |   | January 31, 2025 |     |   | April 30, 2025 |     |   | July 31, 2025 |
|:-----------------|:---------------|:--|---------------:|:----|:--|--------------:|:----|:--|-----------------:|:----|:--|-----------------:|:----|:--|---------------:|:----|:--|--------------:|:----|:--|-----------------:|:----|:--|