Overview

• The Palo Alto-based fintech registered with the SEC, formally seeking to go public through an S-1 filing.
• For the year ended July 31, 2025, it reported $339 million in revenue and $123 million in net income, according to the filing.
• The company serves 1.3 million customers with $88 billion in total assets and operates with roughly 330 employees.
• Revenue comes from a 0.25% advisory fee and interest spreads on cash accounts, which hold $47 billion versus $42 billion in investment accounts.
• Management has stepped up growth efforts, lifting marketing spend to $9 million in the three months ended July 2025 and outlining a mortgage product that its website says will price about 0.5% below the national average, with licenses reported in California, Colorado, Connecticut, Michigan and Texas.