Company: WLTH
Filing Date: 2025-12-12
Form Type: 424B4
Source: 0001628280-25-056780
Chunk: 184

Company: WEALTHFRONT CORP
Filing Date: 2025-12-12
Form: 424B4
Chunk 184
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 January 31, 2025, compared to the prior year.

Other Revenue

Other revenue decreased by approximately $1.0 million, or 16%, for the fiscal year ended January 31, 2025, compared to the prior year. The decline in other revenue was primarily due to the decline in net interest margin revenue. A strategic decision was made in June 2024 to reduce the client borrowing rate for PLOC. This decision, unrelated to the interest rate environment, resulted in a decline in net interest margin revenue for the fiscal year ended January 31, 2025, compared to the prior year.

For the fiscal years ended January 31, 2024 and 2025, the average margin lending rates ranged from 7.33% to 8.94% and 5.41% to 8.20%, respectively, while the funding costs incurred under our lending arrangement with RBC Clearing & Custody ranged from 5.59% to 6.99% and 5.41% to 6.42%, respectively. New loan originations totaled $212.2 million for the fiscal year ended January 31, 2025, compared to $111.8 million for the prior year, with repayments totaling $169.1 million for the fiscal year ended January 31, 2025, compared to $165.9 million for the prior year. There were no loan write-offs for either year.

#### Total Costs and Operating Expenses
|                                    | (in thousands, except percentages) | Fiscal Year Ended January 31, |    2024 |     |   |    2025 |     |   | $ Change |     |     | % Change |   |
|:-----------------------------------|:-----------------------------------|:------------------------------|--------:|:----|:--|--------:|:----|:--|---------:|:----|:----|---------:|:--|
| Cost of revenue                    |                                    | $                             |  22,898 |     | $ |  30,964 |     | $ |    8,066 |     |     |       35 | % |
| Product development                |                                    |                               |  57,558 |     |   |  64,515 |     |   |    6,957 |     |     |       12 | % |
| General and administrative         |                                    |                               |  23,766 |     |   |