Company: WLTH
Filing Date: 2025-09-23
Form Type: DRS/A
Source: 0001524566-25-000011
Chunk: 154

Company: WEALTHFRONT CORP
Filing Date: 2025-09-23
Form: DRS/A
Chunk 154
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 unpredictable, are not driven by core results of operations and render comparisons with prior periods and competitors less meaningful. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenue. We believe Adjusted EBITDA and Adjusted EBITDA Margin provide useful information to investors and others in understanding and evaluating our results of operations, as well as providing a useful measure 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.

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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                                                        |     |                               |         |