Wealthsimple Revenue & Financials

Wealthsimple's financial trajectory over the past decade illustrates the classic trajectory of a high-growth technology platform achieving decisive operational leverage. In FY2015, the firm operated as a nascent robo-advisor with C$1.5 million in revenue and a C$5.0 million operating deficit. Over the subsequent ten fiscal years, revenue surged by more than 25,000% to C$385 million in FY2024, representing a 40.0% year-over-year expansion from C$275 million in FY2023. The company reached a historic financial inflection point in FY2024 by generating C$35 million in net income, marking its transition to sustained GAAP profitability with a 9.09% net margin. This financial turnaround was driven by two key catalysts: the rapid growth of Assets Under Administration past C$50 billion and the high-margin expansion of Wealthsimple Cash, which produced C$173.25 million in net interest spread and interchange revenue. Balance sheet net worth strengthened to C$750 million, supported by conservative capital ratios and zero long-term corporate debt. Wealthsimple maintains substantial equity capital reserves well above CIRO and OSC regulatory requirements, backed by strong minority equity positions held by IGM Financial and Portage Ventures.