Wealthfront Corporation is an American financial services company based in Palo Alto, California, founded by Andy Rachleff and Dan Carroll in 2008. As of September 2026, Wealthfront reported approximately $100 billion assets under management for more than 1.5 million clients.3 Its shares trade on Nasdaq under the symbol WLTH.1Wikipedia text CC BY-SA 4.0
Wealthfront Corporation is an American financial services company based in Palo Alto, California, founded by Andy Rachleff and Dan Carroll in 2008. As of September 2026, Wealthfront reported approximately $100 billion assets under management for more than 1.5 million clients.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue6$365.0M in 2026+68% since 2024Net income6-$42.1M in 2026
Revenue910$91.9M in Q2 FY2026+2% since Q1 FY2026Net income910$17.8M in Q2 FY2026+38% since Q1 FY2026
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
Period ending
2026-01-31
2025-01-31
2024-01-31
Revenue
$365.0M
$308.9M
$216.7M
Cost of revenue
$38.0M
$31.0M
$22.9M
Product development
$212.4M
$64.5M
$57.6M
General and administrative
$149.1M
$29.1M
$23.8M
Marketing
$51.8M
$52.2M
$21.1M
Operations and support
$24.8M
$10.6M
$9.8M
Total costs and operating expenses
$476.2M
$187.4M
$135.1M
Interest expense
$891.0K
$2.8M
$2.0M
Other expense (income), net
-$10.8M
-$20.6M
$986.0K
Income before income taxes
-$101.2M
$139.2M
$78.6M
Provision for (benefit from) income taxes
-$59.2M
-$55.2M
$1.6M
Net income (loss)
-$42.1M
$194.4M
$77.0M
Basic (in dollars per share)
-$0.74
$4.99
$2.06
Diluted (in dollars per share)
-$0.76
$1.31
$0.54
Basic (in shares)
56.6M shares
39.0M shares
37.3M shares
Diluted (in shares)
56.9M shares
138.7M shares
143.9M shares
No quarter-by-quarter statement was filed.
Total assets6$1.4B in 2026+225% since 2025Total liabilities6$801.0M in 2026+316% since 2025Shareholders’ equity6$614.7M in 2026Cash6$440.8M in 2026+553% since 2023
Total assets910$1.8B in Q2 FY2026+26% since Q1 FY2026Total liabilities910$1.2B in Q2 FY2026+45% since Q1 FY2026Shareholders’ equity910$619.9M in Q2 FY2026+1% since Q1 FY2026Cash910$453.3M in Q2 FY2026+3% since Q1 FY2026
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.6
Period ending
2026-01-31
2025-11-30
2025-01-31
2024-01-31
2023-01-31
Cash and cash equivalents
$440.8M
$142.9M
$86.7M
Cash segregated and on deposit for regulatory purposes
$10.4M
$9.1M
Due from clients
$227.4M
$118.5M
Accounts receivable
$33.1M
$29.1M
Client-held fractional shares
$514.9M
$28.1M
Other current assets
$49.2M
$18.8M
Total current assets
$1.3B
$346.4M
Deferred tax assets, net
$119.7M
$60.2M
Operating lease right-of-use asset
$8.7M
$11.2M
Property, software, and equipment, net
$7.8M
$14.7M
Other noncurrent assets
$3.7M
$2.6M
Total assets
$1.4B
$435.2M
Accounts payable
$7.3M
$6.5M
Accrued liabilities
$8.8M
$7.5M
Due to clients
$30.2M
$9.5M
Payable to clearing broker
$227.4M
$118.2M
Current portion of operating lease liabilities
$4.1M
$3.6M
Fractional shares repurchase obligation
$514.9M
$28.1M
Total current liabilities
$792.8M
$173.2M
Operating lease liabilities, net of current portion
$6.3M
$9.8M
Other noncurrent liabilities
$2.0M
$9.7M
Total liabilities
$801.0M
$192.7M
Redeemable convertible preferred stock, $0.0001 par value per share; 0 and 85,490,483 shares authorized as of January 31, 2026 and January 31, 2025, respectively; 0 and 69,914,359 shares issued and outstanding as of January 31, 2026 and January 31, 2025, respectively; aggregate liquidation preference of $0 and $229,543 as of January 31, 2026 and January 31, 2025, respectively
$0
$227.2M
$227.2M
$227.2M
$227.2M
Common stock, $0.0001 par value per share; 214,611,134 shares authorized as of January 31, 2026 and January 31, 2025; 151,782,411 and 41,532,599 shares issued as of January 31, 2026 and January 31, 2025; 150,305,463 and 40,110,106 shares outstanding as of January 31, 2026 and January 31, 2025, respectively
$12.0K
$4.0K
Treasury stock, at cost; 1,476,948 and 1,422,493 shares held as of January 31, 2026 and January 31, 2025, respectively
-$13.1M
-$12.6M
Additional paid-in capital
$769.7M
$127.9M
Accumulated deficit
-$142.0M
-$99.9M
Total stockholders equity
$614.7M
$15.3M
-$180.9M
-$272.6M
Total liabilities, redeemable convertible preferred stock, and stockholders equity
$1.4B
$435.2M
Redeemable convertible preferred stock, par value (in usd per share)
$0.00
$0.00
Redeemable convertible preferred stock, shares authorized (in shares)
0 shares
85.5M shares
Redeemable convertible preferred stock, shares issued (in shares)
0 shares
69.9M shares
Redeemable convertible preferred stock, shares outstanding (in shares)
Cash segregated and on deposit for regulatory purposes
$10.4M
$9.1M
Due from clients
$227.4M
$118.5M
Accounts receivable
$33.1M
$29.1M
Client-held fractional shares
$514.9M
$28.1M
Other current assets
$49.2M
$18.8M
Total current assets
$1.3B
$346.4M
Deferred tax assets, net
$119.7M
$60.2M
Operating lease right-of-use asset
$8.7M
$11.2M
Property, software, and equipment, net
$7.8M
$14.7M
Other noncurrent assets
$3.7M
$2.6M
Total assets
$1.4B
$435.2M
Accounts payable
$7.3M
$6.5M
Accrued liabilities
$8.8M
$7.5M
Due to clients
$30.2M
$9.5M
Payable to clearing broker
$227.4M
$118.2M
Current portion of operating lease liabilities
$4.1M
$3.6M
Fractional shares repurchase obligation
$514.9M
$28.1M
Total current liabilities
$792.8M
$173.2M
Operating lease liabilities, net of current portion
$6.3M
$9.8M
Other noncurrent liabilities
$2.0M
$9.7M
Total liabilities
$801.0M
$192.7M
Redeemable convertible preferred stock, $0.0001 par value per share; 0 and 85,490,483 shares authorized as of January 31, 2026 and January 31, 2025, respectively; 0 and 69,914,359 shares issued and outstanding as of January 31, 2026 and January 31, 2025, respectively; aggregate liquidation preference of $0 and $229,543 as of January 31, 2026 and January 31, 2025, respectively
$0
$227.2M
$227.2M
$227.2M
$227.2M
Common stock, $0.0001 par value per share; 214,611,134 shares authorized as of January 31, 2026 and January 31, 2025; 151,782,411 and 41,532,599 shares issued as of January 31, 2026 and January 31, 2025; 150,305,463 and 40,110,106 shares outstanding as of January 31, 2026 and January 31, 2025, respectively
$12.0K
$4.0K
Treasury stock, at cost; 1,476,948 and 1,422,493 shares held as of January 31, 2026 and January 31, 2025, respectively
-$13.1M
-$12.6M
Additional paid-in capital
$769.7M
$127.9M
Accumulated deficit
-$142.0M
-$99.9M
Total stockholders equity
$614.7M
$15.3M
-$180.9M
-$272.6M
Total liabilities, redeemable convertible preferred stock, and stockholders equity
$1.4B
$435.2M
Redeemable convertible preferred stock, par value (in usd per share)
$0.00
$0.00
Redeemable convertible preferred stock, shares authorized (in shares)
0 shares
85.5M shares
Redeemable convertible preferred stock, shares issued (in shares)
0 shares
69.9M shares
Redeemable convertible preferred stock, shares outstanding (in shares)
Wealthfront sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Wealthfront
Ribbit Capital GP II, Ltd.Filed SCHEDULE 13G/A on Wealthfront, latest Aug 14, 2026 (2 filings since Feb 17, 2026)
Andy RachleffFiled SCHEDULE 13G on Wealthfront, latest Feb 6, 2026
WealthfrontPalo Alto, California, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Wealthfront reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Our corporate headquarters is located in Palo Alto, California, where we currently have a lease commitment for a facility with an expiration date in 2028. We otherwise lease office facilities in San Francisco, California, and New York, New York.
We believe our facilities are suitable for their present and intended purposes and are operating at a level consistent with the requirements of the industry in which we operate. We also believe that our leases are at competitive or market rates and do not anticipate any difficulty in leasing suitable additional space upon expiration of our current lease terms.
Wealthfront was founded by Benchmark co-founder Andy Rachleff with Dan Carroll in 2008 as kaChing, a mutual fund analysis company, before pivoting into wealth management. Rachleff served as the firm's founding CEO and president until January 2014. Between January 2014 and October 2016, Adam Nash served as Wealthfront's CEO. Rachleff continued to serve as executive chairman until stepping down in 2016 to serve as CEO again. He then returned to his position as executive chairman in 2021. David Fortunato served as the firm's chief technology officer from 2009 to 2019, after which he assumed the role of president and CEO.
In December 2012, the firm started tax loss harvesting for accounts of more than $100,000.
Assets under management increased from $97 million at the beginning of 2013 to approximately $530 million by the end of the fiscal year. In 2013, Wealthfront introduced "direct indexing", a tax-loss harvesting platform that purchases the individual securities of an investment portfolio.
In January 2018, Wealthfront launched homeownership planning tool for Path.
On September 9, 2026, Wealthfront announced they had over $100 billion in total platform assets across 1.5 million customers. They attributed the milestone to their client-first business model, user friendly functionality, and focus on long term growth.
Read the full text
Services
Cash account
In February 2019, the firm introduced the Wealthfront Cash Account, which provides banking as a service (BaaS). A Cash Account deposits client funds in a network of partner banks including Citibank, HSBC, and UMB. In 2020, the account was expanded to allow for direct deposit, bill pay, and ATM access through Green Dot Bank. In June 2026, Wealthfront announced UMB Bank would be providing these features for all users by October 2026.
Weathfront offers individual, joint, and trust cash accounts. These accounts operate as a cash management account, offering high yield interest rates with transaction handling similar to that of a checking account. Wealthfront offers ATM reimbursements, direct deposit, bill pay, and an optional debit card as part of their cash account offering.
On September 18, 2026, Wealthfront announced they were raising interest rates on their cash accounts to 3.55% APY, with various promotional boosts, in response to the Federal Reserve voting unanimously to raise rates 25 basis points on September 16.
In 2016, Wealthfront launched a partnership with the state of Nevada to launch a 529 tax-advantaged college savings plan. In the previous year, Nevada passed approval on a new tax credit for employers who provide fund matching to employees participating in 529 savings programs.
In January 2022, UBS agreed to acquire Wealthfront for $1.4 billion. The acquisition was mutually terminated in September 2022 with both companies not providing a reason. UBS announced that it would instead invest in a $69.7 million note convertible into Wealthfront shares, valuing the latter at its acquisition price.
In July 2024, Wealthfront acquired a mortgage company as part of its entry into home lending.
In December 2025, Wealthfront completed an initial public offering on the Nasdaq Global Select Market under the ticker symbol "WLTH". The company raised approximately $485 million, pricing shares at $14 per share, resulting in a fully diluted market capitalization of approximately $2.6 billion.
Mar 11, 2026Reported quarterly or annual results24
Jan 12, 2026Reported quarterly or annual results27
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
155 filings to the SEC since October 2021: 1 annual reports, 3 quarterly reports, 7 major events, 91 insider forms, 6 large holders, 47 other. The latest 20:
35 open-market trades by officers, directors and large owners since October 2021: 0 buys and 35 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
From the cover page of the 10-K filed Apr 24, 2026 (Section 12(b) of the Exchange Act).11
Risk factors and legal proceedings
The risks Wealthfront names in Item 1A of its 10-K filed Apr 24, 2026: 66 risks under these headings, as written.11
Risks Related to Our Business and Industry
We have experienced historical growth that may not be indicative of our future growth, and if we do not effectively manage our future growth, our business, operating results, and financial condition may be adversely affected. Our rapid growth also makes it difficult to evaluate our future prospects.
We have a limited operating history with certain of our products and services, which makes it difficult to evaluate our current business and future prospects and increases the risks associated with an investment in our common stock.
While we recently achieved profitability, we incurred a net loss in the most recent fiscal year and have a history of net losses, and there can be no guarantee that we will achieve or maintain profitability in the future.
The value and amount of our platform assets is subject to significant fluctuations. Fluctuations in the value and amount of our platform assets may be attributable in part to market conditions outside of our control that have had, and in the future could have, an adverse impact on our business, operating results, and financial condition.
We may experience significant fluctuations in our operating results.
We face intense competition, and we may be unable to compete effectively in our efforts to attract new clients and retain existing clients, which would adversely affect our business, operating results, and financial condition.
We cannot accurately predict new client engagement, continued engagement by existing clients, or expansion of existing client engagement, and the impact that such engagement levels may have on our future revenue and operating results.
If we fail to develop, enhance, or commercialize new, or expand our existing, platform, products, and services, or otherwise invest in engineering, research and development, marketing, and product support activities, in a timely or cost-effective manner, or if we are unsuccessful in these efforts, our ability to grow our business, operating results, and financial condition may be adversely impacted.
If we fail to successfully develop, maintain, and enhance our brand, or if our reputation is harmed, our business, operating results, and financial condition could be adversely impacted.
Any failure to securely store and manage our clients’ assets, or other software or equipment failures that may impair our ability to provide our services, could adversely affect our business, operating results, and financial condition.
We are directly and indirectly exposed to fluctuations in interest rates, and changing interest rate environments have in the past, and could in the future, impact our business, operating results, and financial condition.
The other 55 risks
Our growth depends in part on the success of our strategic relationships with our service providers and other third parties.
We may require additional capital to satisfy our liquidity needs and support business growth and objectives, and this capital might not be available to us on reasonable terms, if at all, may result in stockholder dilution, or may be delayed or prohibited by applicable regulations.
If we are unable to continue to successfully market our platform, it could negatively impact our ability to attract and onboard new clients and could adversely impact our business, operating results, and financial condition.
Existing and future acquisitions, strategic investments, partnerships, or alliances could be difficult to identify and integrate, divert the attention of key management personnel, disrupt our business, dilute stockholder value, and adversely affect our business, operating results, and financial condition.
Our estimates of market opportunity and forecasts of market growth may prove to be inaccurate, and even if the markets in which we compete achieve the forecasted growth, our business could fail to grow at similar rates, if at all.
Key business metrics and other estimates are subject to inherent challenges in measurement and to change as our business evolves, and our business, operating results, and financial condition could be adversely affected by real or perceived inaccuracies in those metrics or any changes in metrics we disclose.
Our ability to maintain client satisfaction depends in part on the quality of our client support. Failure to maintain high-quality client support could have an adverse effect on our business, operating results, and financial condition.
We could incur substantial losses from our corporate operating accounts if one or more of the financial institutions that we use fails or is taken over by the FDIC. Similarly, if one or more of our cash sweep program banks were to fail or be taken over by the FDIC, our business, operating results, and financial condition could be adversely affected.
Wealthfront Advisers LLC’s and Wealthfront Strategies LLC’s duties to act as fiduciaries for our clients could conflict with the short-term interests of our business.
Misconduct and errors by our employees and third-party service providers could harm our business and reputation and subject us to significant legal liability.
Our compliance and risk management policies and procedures as a regulated financial services company might not be fully effective in identifying or mitigating compliance and risk exposure in all market environments or against all types of risk.
We are exposed to funding transaction losses due to reversals or insufficient funds.
Our exposure to credit risk with clients, market makers, and other counterparties could result in losses.
To the extent we expand our operations into international jurisdictions, we would be exposed to significant new risks, and our international expansion efforts might not succeed.
Risks Related to Our Cash Management Products and Services
Our cash management products and services subject us to risks related to our bank partnerships.
We are subject to FDIC pass-through insurance requirements in connection with our cash management products and services.
Our Cash Account program and other cash management products and services could subject us to a number of federal and state regulatory requirements.
Client or third-party use of our cash management services for illegal activities or improper purposes could harm our business.
Risks Related to Our Investment Advisory and Brokerage Services
Errors in Wealthfront Advisers LLC’s automated advisory services or misrepresentations, inaccuracies, or fraud may subject us to liability for any losses that result.
We will be adversely affected if we, or any of our subsidiaries, or our investment advisory programs, are determined to have been subject to registration as an investment company under the 1940 Act.
Sponsorship of 1940 Act-registered investment products, such as the Wealthfront Treasury Money Market Fund, carries regulatory, reputational, and market risks, which could adversely affect our business or financial condition.
Providing investment education tools could subject us to additional risks if such tools are construed to be investment advice or recommendations.
If we do not maintain the net capital levels required by regulators, our broker-dealer business may be restricted and we may be fined or subject to other disciplinary or corrective actions.
Risks Related to Our Mortgage Services
Our mortgage business depends on U.S. government-sponsored entities and government agencies, as well as our ability to comply with their guidelines and related investor requirements, and any changes in their roles or policies could materially and adversely affect our ability to market and sell mortgages.
Our reliance on a limited number of investor outlets could have a material adverse effect on our business.
We are exposed to credit risk arising from our mortgage product, expect to be exposed to credit risk as we develop mortgage products, and any defaults by our mortgage clients would result in harm to our business, operating results, and financial condition.
Risks Related to Regulatory and Legal Matters
Broker-Dealer Regulations
Investment Adviser Regulations
Mortgage-Related Regulations
Previous statements by lawmakers, regulators, and other public officials and proposed rules have signaled an increased focus on new or additional regulations that could impact our business and require us to make significant changes to our business model and practices.
We are subject to anti-money laundering, anti-bribery, anti-corruption, and similar laws and non-compliance with such laws can subject us to criminal penalties or significant fines and harm our business and reputation.
We are subject to AML laws, countering the financing of terrorism (“CFT”) laws, and similar laws, and non-compliance with such laws can subject us to criminal penalties or significant fines and harm our business and reputation.
We are subject to governmental economic sanctions requirements and export and import controls that could subject us to liability if we are not in compliance with applicable laws.
We have in the past been, and may in the future become, involved in litigation and regulatory inquiries, examinations, or proceedings that could negatively affect us.
Risks Related to Our People
We rely on our management team and other key employees and will need additional personnel to grow our business, and the loss of one or more key employees or our inability to attract and retain qualified personnel, including members of our board of directors, could harm our business.
If we cannot maintain our corporate culture as we grow, we could lose the innovation, teamwork, passion, and focus on client satisfaction that we believe contribute to our success, and our business, operating results, and financial condition may be adversely impacted.
Risks Related to Our Platform, Systems, and Technology
Problems with the quality of, or disruptions in, our platform, products and services could adversely impact our brand and reputation and our business, operating results, and financial condition.
We currently rely on a small number of third-party service providers to provide important services to us, and any interruptions or delays in services from these third parties could impair the delivery of our platform, products and services and adversely impact our business, operating results, and financial condition.
Our success depends in part upon continued distribution through app stores and effective operation with mobile operating systems, networks, technologies, products, hardware, and standards that we do not control.
We rely on third-party data hosting providers and colocation data centers to host and operate our platform, and any disruption of or interference with our use of these services and facilities may negatively affect our ability to maintain the performance and reliability of our platform, which could cause our business, operating results, and financial condition to suffer.
We have incorporated AI Technologies into some of our internal processes and expect to further incorporate AI Technologies into some of our processes, products and services. These technologies may present business, compliance, and reputational risks.
Risks Related to Our Intellectual Property
Failure to obtain, maintain, protect, or enforce our intellectual property and proprietary rights could enable others to copy or use aspects of our platform without compensating us, which could harm our brand, business, and operating results.
Third parties have claimed, and may claim in the future, that aspects of our platform or website infringe, misappropriate, or otherwise violate their intellectual property rights and such claims
could be time-consuming or costly to defend or settle, result in the loss of significant rights, or harm our relationships with our clients or reputation in the industry.
We enter into licensing arrangements for certain of our products, and our inability to maintain those licenses could harm our business.
Some of our technology incorporates “open source” software, which could under certain circumstances materially and adversely affect our ability to offer our platform, products, and services and subject us to possible litigation.
Risks Related to Cybersecurity and Data Privacy
Our business could be materially and adversely affected by a cybersecurity breach or other attack involving our computer systems or data or those of our clients, our third-party service providers, or such service providers’ vendors.
Compliance with ever-evolving federal, state, and foreign laws relating to the handling of information about individuals involves significant expenditure and resources, and if we fail to adequately protect personal data or other information we collect, process, share, or maintain under applicable laws, our business, operating results, and financial condition could be adversely affected.
Risks Related to Our Financial and Accounting Matters
If we fail to maintain an effective system of internal controls, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.
We incur significant costs and use of management resources as result of operating as a public company.
We could be subject to additional tax liabilities and U.S. federal and global income tax reform could adversely affect us.
Our ability to use our NOL carryforwards and certain other tax attributes may be limited.
If our estimates or judgments relating to our critical accounting policies prove to be incorrect or financial reporting standards or interpretations change, our operating results could be adversely affected.
Our Amended Revolver contains restrictive and financial covenants that may limit our operational flexibility. If we fail to meet our obligations under the Amended Revolver, our operations may be interrupted and our business, operating results, and financial condition could be adversely affected.
Risks Related to Ownership of Our Common Stock
The market price of our common stock may be volatile, and you could lose all or part of your investment.
Sales of substantial amounts of our common stock in the public markets, or the perception that they might occur, could cause the market price of our common stock to decline.
If financial analysts issue inaccurate or unfavorable research regarding, or do not or cease to cover, our business and our common stock, our stock price and trading volume could decline.
We do not intend to pay dividends in the foreseeable future. As a result, your ability to achieve a return on your investment will depend on appreciation in the price of our common stock.
Legal proceedings
From time to time we may become involved in legal proceedings or be subject to claims arising in the ordinary course of our business. We are not presently a party to any legal proceedings that, if determined adversely to us, would individually or taken together have a material adverse effect on our business, operating results, cash flows or financial condition. Defending legal proceedings is costly and can impose a significant burden on management and employees. The results of any current or future litigation cannot be predicted with certainty, and regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.
