Automated investing platform Wealthfront Corporation (Nasdaq: WLTH) reported fiscal first quarter 2027 revenue of $90.5 million on Thursday, up 7% year over year, with Total Platform Assets hitting a record $96.6 billion.
Assets grew faster than revenue because Investment Advisory Assets, at $51.7 billion, rose 39% year over year, while higher-fee Cash Management Assets, at $44.9 billion, grew just 3%, Wealthfront said.
A cross-product adoption incentive launched in early March offered clients who direct deposit at least $1,000 per month and fund an investment account an extra 25 basis points on their Cash Account APY.
Wealthfront said the incentive lifted asset-weighted cross-product adoption to roughly 62.5% at quarter-end, up over one percentage point quarter over quarter, and produced its strongest quarter of new advisory account openings since the quarter ended January 31, 2025.
The company also completed its inaugural share repurchase program, buying back more than 3 million shares at an average price of $8.66 for over $27 million. Adjusted free cash flow of $42.7 million funded the buybacks.
GAAP net income fell 51% to $12.8 million, driven largely by stock-based compensation expense rising to $17.1 million from $1.9 million after the recognition of dual-trigger awards following the IPO. Funded clients reached 1.46 million, up 15% year over year.
Wealthfront expanded its Home Lending product to Colorado and Texas during the quarter while onboarding a second takeout investor.
