Segment Information (Tables)
|
3 Months Ended |
Mar. 31, 2019 |
|---|
| Segment Reporting [Abstract] |
|
| Schedule of revenue by segment |
The following table presents revenues by segment:
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
March 31, |
|
|
2019 |
|
2018 |
Revenues: |
|
|
|
|
|
|
Envestnet Wealth |
|
|
|
|
Asset-based |
|
$ |
108,934 |
|
|
$ |
121,153 |
|
Subscription-based |
|
41,026 |
|
|
32,585 |
|
Total recurring revenues |
|
149,960 |
|
|
153,738 |
|
Professional services and other |
|
2,745 |
|
|
2,250 |
|
Total Envestnet Wealth segment revenues |
|
152,705 |
|
|
155,988 |
|
|
|
|
|
|
Envestnet Data & Analytics |
|
|
|
|
Subscription-based |
|
42,061 |
|
|
37,110 |
|
Professional services and other |
|
4,900 |
|
|
4,913 |
|
Total Envestnet Data & Analytics segment revenues |
|
46,961 |
|
|
42,023 |
|
Consolidated revenues |
|
$ |
199,666 |
|
|
$ |
198,011 |
|
|
| Summary of revenues from major customers |
One customer accounted for more than 10% of the Company’s total revenues:
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
March 31, |
|
|
2019 |
|
2018 |
Fidelity |
|
16 |
% |
|
16 |
% |
|
|
|
|
|
|
|
|
Fidelity revenue as a percentage of Envestnet Wealth segment revenues: |
|
20 |
% |
|
20 |
% |
|
| Schedule of income (loss) from operations by segment |
The following table presents a reconciliation from income (loss) from operations by segment to condensed consolidated net income (loss) attributable to Envestnet, Inc.:
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
March 31, |
|
|
2019 |
|
2018 |
Envestnet Wealth |
|
$ |
16,844 |
|
|
$ |
15,861 |
|
Envestnet Data & Analytics |
|
(7,928 |
) |
|
(4,409 |
) |
Total segment income (loss) from operations |
|
8,916 |
|
|
11,452 |
|
Nonsegment operating expenses |
|
(17,653 |
) |
|
(12,190 |
) |
Other expense, net |
|
(5,763 |
) |
|
(5,254 |
) |
Consolidated loss before income tax provision (benefit) |
|
(14,500 |
) |
|
(5,992 |
) |
Income tax provision (benefit) |
|
3,768 |
|
|
(13,994 |
) |
Consolidated net income (loss) |
|
(18,268 |
) |
|
8,002 |
|
Add: Net loss attributable to non-controlling interest |
|
83 |
|
|
102 |
|
Consolidated net income (loss) attributable to Envestnet, Inc. |
|
$ |
(18,185 |
) |
|
$ |
8,104 |
|
|
| Summary of consolidated total assets, consolidated depreciation and amortization and consolidated capital expenditures |
A summary of consolidated total assets, consolidated depreciation and amortization and consolidated capital expenditures follows:
|
|
|
|
|
|
|
|
|
|
|
|
March 31, |
|
December 31, |
|
|
2019 |
|
2018 |
Segment assets: |
|
|
|
|
Envestnet Wealth |
|
$ |
836,043 |
|
|
$ |
810,971 |
|
Envestnet Data & Analytics |
|
534,548 |
|
|
502,776 |
|
Consolidated total assets |
|
$ |
1,370,591 |
|
|
$ |
1,313,747 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
March 31, |
|
|
2019 |
|
2018 |
Segment depreciation and amortization: |
|
|
|
|
Envestnet Wealth |
|
$ |
11,267 |
|
|
$ |
11,473 |
|
Envestnet Data & Analytics |
|
8,250 |
|
|
8,073 |
|
Consolidated depreciation and amortization |
|
$ |
19,517 |
|
|
$ |
19,546 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
March 31, |
|
|
2019 |
|
2018 |
Segment capital expenditures: |
|
|
|
|
Envestnet Wealth |
|
$ |
10,838 |
|
|
$ |
8,192 |
|
Envestnet Data & Analytics |
|
1,594 |
|
|
1,395 |
|
Consolidated capital expenditures |
|
$ |
12,432 |
|
|
$ |
9,587 |
|
|