Also trades as: WETF (NASDAQ) · $vol 5M

$21.23

+0.25 (+1.19%)

Weekly Expected Move ±3.6%

$20 $20 $21 $22 $23

NYSE · Financial Services · Asset Management · Tech Score Sell · Power 38 · $3.2B mcap · 133M float · 2.04% daily turnover · Short 59% of daily vol

Credit Risk of going bust: not rated, financial company (lending is its business) Bonds: none of note held by US funds details ▾

Not rated: lending and leverage are a financial company's business, which the model misreads.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.

Revenue Segmentation

By Product / Service

By Geography

Revenue by Segment (5-Year Trend)

Income Trends

Revenue

$494M +15.4% ▲

5Y CAGR: +14.6%

Gross Profit

$356M +16.2% ▲

5Y CAGR: +24.6%

Operating Income

$174M +26.9% ▲

5Y CAGR: +25.9%

Net Income

$109M +63.6% ▲

EPS (Diluted)

$0.75 +127.3% ▲

EBITDA

$178M +51.6% ▲

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$304M	$301M	$349M	$428M	$494M
YoY Growth	+21.8%	-1.0%	+15.8%	+22.5%	+15.4%
Cost of Revenue	$147M	$163M	$181M	$121M	$138M
Gross Profit	$157M	$139M	$168M	$306M	$356M
Gross Margin	51.7%	46.0%	48.2%	71.6%	72.1%
R&D Expenses	$0	$0	$0	$2M	$0
SG&A Expenses	$36M	$45M	$54M	$62M	$34M
Operating Expenses	$68M	$79M	$81M	$169M	$182M
Operating Income	$89M	$60M	$87M	$137M	$174M
Operating Margin	29.3%	19.9%	25.1%	32.1%	35.3%
Interest Expense	$12M	$15M	$15M	$19M	$30M
Income Before Tax	$57M	$40M	$119M	$95M	$142M
Tax Expense	$7M	-$11M	$16M	$29M	$33M
Net Income	$50M	$51M	$103M	$67M	$109M
Net Margin	16.4%	16.8%	29.4%	15.6%	22.1%
EPS (Diluted)	$0.31	$0.31	$0.64	$0.33	$0.75
EBITDA	$72M	$56M	$136M	$117M	$178M
Shares Outstanding	145M	143M	148M	149M	145M

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$113M	$111M	$108M	$113M	$126M	$147M	$159M	$177M
Cost of Revenue	$31M	$35M	$34M	$33M	$56M	$37M	$36M	$42M
Gross Profit	$82M	$75M	$74M	$80M	$69M	$110M	$124M	$135M
Gross Margin	72.8%	68.0%	68.7%	70.9%	55.3%	74.7%	77.6%	76.0%
R&D Expenses	$384K	$0	$439K	$0	$0	$0	$0	$0
SG&A Expenses	$16M	$16M	$13M	$14M	$14M	$9M	$0	$10M
Operating Expenses	$42M	$40M	$40M	$45M	$24M	$50M	$62M	$62M
Operating Income	$41M	$35M	$34M	$35M	$46M	$60M	$61M	$73M
Operating Margin	36.0%	31.7%	31.6%	30.8%	36.3%	40.5%	38.4%	41.2%
Interest Expense	$5M	$6M	$5M	$5M	$8M	$11M	$11M	$15M
Income Before Tax	$4M	$34M	$30M	$32M	$30M	$50M	-$15M	$59M
Tax Expense	$8M	$7M	$6M	$7M	$10M	$10M	$9M	$14M
Net Income	-$4M	$27M	$25M	$25M	$20M	$40M	-$23M	$44M
Net Margin	-4.0%	24.7%	22.8%	22.0%	15.7%	27.1%	-14.5%	25.0%
EPS (Diluted)	$-0.13	$0.18	$0.17	$0.17	$0.13	$0.28	$-0.17	$0.28
EBITDA	$42M	$36M	$35M	$37M	$39M	$64M	-$1M	$77M
Shares Outstanding	144M	148M	147M	147M	146M	143M	138M	154M

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