Company: WLTH
Filing Date: 2025-06-18
Form Type: DRS
Source: 0001628279-25-000372
Chunk: 145

Company: WEALTHFRONT CORP
Filing Date: 2025-06-18
Form: DRS
Chunk 145
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 year ended January 31, 2025, compared to the prior 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 |     |   |  29,092 |     |   |    5,326 |     |     |       22 | % |
| Marketing                          |                                    |                               |  21,150 |     |   |  52,196 |     |   |   31,046 |     |     |      147 | % |
| Operations and support             |                                    |                               |   9,767 |     |   |  10,619 |     |   |      852 |     |     |        9 | % |
| Total costs and operating expenses |                                    | $                             | 135,139 |     | $ | 187,386 |     | $ |   52,247 |     |     |       39 | % |

Cost of Revenue

Cost of revenue increased by $8.1 million, or 35%, for the fiscal year ended January 31, 2025, compared to the prior year. The increase was primarily due to an increase of $4.8 million in cash management costs, an increase of $2.0 million in brokerage platform fees, and an increase of $1.3 million in other cost of revenue. The increases were in line with the growth of cash account assets, new and existing clients and accounts, and money movement volumes.

Product Development

Product development expenses increased by $7.0 million