Company: WLTH
Filing Date: 2025-12-02
Form Type: S-1/A
Source: 0001628280-25-054592
Chunk: 168

Company: WEALTHFRONT CORP
Filing Date: 2025-12-02
Form: S-1/A
Chunk 168
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 for period-to-period comparisons of our business performance. Moreover, we have included Adjusted EBITDA and Adjusted EBITDA Margin in this prospectus because it is a key measurement used by our management internally to make operating decisions, including those related to operating expenses, evaluate performance, identify trends affecting our business and perform strategic planning and annual budgeting.

21 As of July 31, 2025, approximately 0.9% of funded clients had an account with assets of zero during the applicable measurement period.

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The following table presents a reconciliation of net income and net income margin, the most directly comparable GAAP measures, to Adjusted EBITDA and Adjusted EBITDA margin, respectively:

| (in thousands, except percentages)                                       |     | Fiscal Year Ended January 31, 
 2024                          |         |         |     | 2025 |    |         |     | Three Months Ended July 31, 
 2024                        |        |   |     | 2025 |        |   |     | Six Months Ended July 31, 
 2024                      |         |         |     | 2025 |    |         |
|:-------------------------------------------------------------------------|:----|:------------------------------|--------:|--------:|:----|:-----|---:|--------:|:----|:----------------------------|-------:|:--|:----|:-----|-------:|:--|:----|:--------------------------|--------:|--------:|:----|:-----|---:|--------:|
| Net income                                                               |     | $                             |         |  76,966 |     | $    |    | 194,447 |     | $                           | 34,178 |   |     | $    | 34,741 |   |     | $                         | 132,309 |         |     | $    |    |  60,688 |
| Add:                                                                     |     |                               |         |         |     |      |    |         |     |                             |        |   |     |      |        |   |     |                           |         |         |     |      |    |         |
| Interest expenses                                                        |     |                               |         |   2,000 |     |      |    |   2,810 |     |                             |    808 |   |     |      |     99 |   |     |                           |