year was our the We generated out record. flowing with This $X.X highest our XXXX, listed products. we quarter Thank begin the fourth additional I'll WisdomTree. totaling positive the on for of billion, then and closed strongest flows net Fourth by and business. caps what's Jarrett very and billion U.S. quarter a successful on you, quarter flows $XX European-listed our year we'll in to both results of the quarter, welcome, turn updates end reviewing Jono and our and with been call Jessica, since over AUM, everyone. for
equity with including Treasury flows product as corner well That million primary flows followed oil. Flows flows across mostly commodity having about our most of U.S. $XXX of billion was Rate categories, product, was suite USFR, the into billion products $X contributor. $X.X our as a into by turned other our with Floating of
movement, flat of were market billion flows, the XXXX, by growth $X with organic generated incredibly revenues market $XX we almost our year. an as We have impacting challenging billion flowing essentially our for year-over-year backdrop, annualized flow net negative representing strongest our XX%. year since overcome Notwithstanding declines, of over the AUM market
a not shining story. USFR the only star, was but
Our year have with of year consecutive the annualized for and by nine the been U.S. flow flows XX%. during equity net flows with over organic product as momentum flows strong XX billion quarters. positive of evidenced sustained consistently ended growth last the of flowing XX We rate $X months positive and
of billion, January movement. from in stands benefited increase a currently an momentum billion $X.X X% from positive AUM having record and the at generated of our $XX.X continues, flows level, Our of end December having almost market as
were AUM a by Revenues changes AUM in as X $X in was point million, offset net $X.XX $XX.X average decline our share. income from third basis Slide. was higher our the mix. quarter million essentially Next average fee our unchanged or advisory a due to Adjusted
rate used $XX exclude gold discount loss due to the to non-GAAP to update compute annual present future payment Our an the million payments of commitment obligations. of for non-cash value results a after-tax the our
Next Slide.
middle expenses. about Our $XX up end as spending and range. disclosed with This seasonal for guidance accruals well of largely of of our as with were compensation the year was previously guidance due the and higher marketing to of expense for operating discretionary our compensation quarter. expenses million, increase incentive sales-related higher ended $XX.X X% million low We the the
Next Slide.
on launch and guidance. year on XXXX comments organic into continued of Prime our our reinvestment growth. consideration will include taking expense few focus Now This future growth a national into a upcoming initiatives, anticipated WisdomTree
year-end XXXX. performance compensation margin and the compensation and our our The expense share sales in relation magnitude digital includes including our to of peers incentive annualization to well flows, with hires, hires performance. price and our considers $XXX income million $XX million. forecasting range revenue, in This operating operating variability adjustments compensation as both drivers, guidance as of in in to are We from assets well as made range as
estimate a $XX just $XX quarter amount of reminder quarter in other million connection the we report Also, ranges million. $XX taxes, we year-end to the expense compensation of compensation. experienced we in that items first first in to compared seasonality to from with the in elevated $XX payroll XXXX. $XX.X to Discretionary million million be and approximately as spending We as compensation recognized the payment recognized benefits million
WisdomTree related This guidance for uplift modest a and other Prime marketing includes costs.
XX% Our growth. be flow assuming We gross would organic levels. AUM margin to expansion, is current continued margin at anticipated anticipate
payment gold contractual remain million, be assuming flat levels. prices to expense current at gold $XX is Our forecasted
As a X,XXX upon measured is based is annual expense paying us gold on on reminder, of prices. gold this based and basis ounces an average monthly
million Third-party approximately upon $X respective on platforms. our and expense is forecasted be AUM dependent $X distribution is growth million to to
Our adjusted U.K. about be XX%, in effective from to which into income rate consideration XX%, change expected a in tax is taking XX% is XXXX. rate tax to corporate
As convertible something the of due. that in year, of million in with a are footprint And reminder, $XXX United the UK all notes this companies the June our will rate impact Kingdom. is increase coming
to $XX remainder. currently our million setting debt planning reduce approximately stone, and not refinancing While the by we're
million estimated midway interest refinancing. higher to our about to any associated rate is year, as with temporarily will the rise through cost $XX a in with reduction XXXX debt coupled interest occur Our
have. That's estimated $XX $X Our to all recognized is lower was normalized million or expense exiting million past versus what interest be XXXX I about this year.
over to now will call turn Jarrett. I the
