Condensed Consolidated Statements of Operations - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2024 |
Sep. 30, 2023 |
|
| Revenue: | ||||
| Total revenue | $ 345,949 | $ 316,847 | $ 1,019,172 | $ 927,988 |
| Operating expenses: | ||||
| Direct expense | 136,488 | 120,421 | 407,472 | 354,309 |
| Employee compensation | 103,487 | 113,334 | 311,205 | 344,646 |
| General and administrative | 63,438 | 50,091 | 168,427 | 158,816 |
| Depreciation and amortization | 35,530 | 32,400 | 115,155 | 95,985 |
| Goodwill impairment | 0 | 0 | 96,269 | 0 |
| Gain on deconsolidation | 0 | 0 | (19,523) | 0 |
| Total operating expenses | 338,943 | 316,246 | 1,079,005 | 953,756 |
| Income (loss) from operations | 7,006 | 601 | (59,833) | (25,768) |
| Other expense, net | (4,277) | (2,001) | (13,446) | (12,012) |
| Income (loss) before income tax provision (benefit) and equity method investments | 2,729 | (1,400) | (73,279) | (37,780) |
| Income tax provision (benefit) | 2,864 | (8,824) | 3,717 | 15,363 |
| Loss from equity method investments | (1,526) | (2,368) | (3,327) | (7,694) |
| Net income (loss) | (1,661) | 5,056 | (80,323) | (60,837) |
| Add: Net loss attributable to non-controlling interest | 0 | 2,035 | 1,974 | 5,284 |
| Net income (loss) attributable to Envestnet, Inc. | $ (1,661) | $ 7,091 | $ (78,349) | $ (55,553) |
| Net income (loss) attributable to Envestnet, Inc. per share: | ||||
| Basic (in dollars per share) | $ (0.03) | $ 0.13 | $ (1.42) | $ (1.02) |
| Diluted (in dollars per share) | $ (0.03) | $ 0.13 | $ (1.42) | $ (1.02) |
| Weighted average common shares outstanding: | ||||
| Basic (in shares) | 55,273,324 | 54,562,270 | 55,100,239 | 54,380,231 |
| Diluted (in shares) | 55,273,324 | 54,970,616 | 55,100,239 | 54,380,231 |
| Total recurring revenue | ||||
| Revenue: | ||||
| Total revenue | $ 340,382 | $ 308,840 | $ 997,933 | $ 903,572 |
| Asset-based | ||||
| Revenue: | ||||
| Total revenue | 224,980 | 193,901 | 647,081 | 556,595 |
| Operating expenses: | ||||
| Direct expense | 127,979 | 112,938 | 376,498 | 324,093 |
| Subscription-based | ||||
| Revenue: | ||||
| Total revenue | 115,402 | 114,939 | 350,852 | 346,977 |
| Operating expenses: | ||||
| Direct expense | 8,597 | 7,857 | 25,475 | 22,554 |
| Professional services and other revenue | ||||
| Revenue: | ||||
| Total revenue | 5,567 | 8,007 | 21,239 | 24,416 |
| Operating expenses: | ||||
| Direct expense | $ (88) | $ (374) | $ 5,499 | $ 7,662 |
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of gain (loss) from deconsolidation of subsidiary and derecognition of group of assets constituting transfer of business or nonprofit activity, excluding conveyance of oil and gas mineral rights and transfer of good or service in contract with customer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of impairment loss from asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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