Company: WLTH
Filing Date: 2025-12-11
Form Type: S-1/A
Source: 0001628280-25-056439
Chunk: 197

Company: WEALTHFRONT CORP
Filing Date: 2025-12-11
Form: S-1/A
Chunk 197
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632 |     |   |         19,874 |     |   |        22,040 |
| Other revenue       |                |   |          1,649 |     |   |         1,492 |     |   |            1,266 |     |   |            1,412 |     |   |          1,535 |     |   |         1,330 |     |   |            1,011 |     |   |              992 |     |   |            374 |     |   |           210 |
| Total revenue       |                | $ |         39,798 |     | $ |        53,822 |     | $ |           62,868 |     | $ |           60,226 |     | $ |         68,320 |     | $ |        77,550 |     | $ |           80,309 |     | $ |           82,680 |     | $ |         84,514 |     | $ |        91,123 |

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Total revenue has increased sequentially in each of the periods presented, other than the fourth quarter of fiscal 2024, primarily driven by an increase in cash management and investment advisory assets.

Cash Management

Cash management revenue has generally increased sequentially in each of the periods presented, other than the fourth quarter of fiscal 2024, primarily attributable to quarter over quarter increase in the daily average balance of cash management assets. In November 2023, we increased the APY our clients receive on their program deposits without an associated increase in the benchmark. As a result, the average fee rate received for the delivery of cash management services declined in the fourth quarter of fiscal 2024, compared to the prior quarter.

Investment Advisory

Investment advisory revenue has increased sequentially in each of the periods presented primarily driven by quarter over quarter increase in the daily average balance of investment advisory assets and the introduction of new investment advisory products.

Other Revenue

Other revenue has generally decreased sequentially in each of the periods presented, other than the fourth quarter of fiscal 2024 and first quarter of fiscal 2025, primarily attributable to discontinuing a product line in November 2024 and 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