Quarterly report pursuant to Section 13 or 15(d)

Revenue and Cost of Revenues (Tables)

v3.20.2
Revenue and Cost of Revenues (Tables)
6 Months Ended
Jun. 30, 2020
Revenue from Contract with Customer [Abstract]  
Schedule of disaggregation of revenue by major source
The following table presents the Company’s revenues disaggregated by major source:

Three Months Ended June 30,
2020 2019
Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated
Revenues:
Asset-based $ 122,246    $ —    $ 122,246    $ 120,070    $ —    $ 120,070   
Subscription-based 61,410    43,569    104,979    50,078    42,180    92,258   
Total recurring revenues 183,656    43,569    227,225    170,148    42,180    212,328   
Professional services and other revenues 4,029    4,059    8,088    6,742    5,375    12,117   
Total revenues $ 187,685    $ 47,628    $ 235,313    $ 176,890    $ 47,555    $ 224,445   
 
  Six Months Ended June 30,
  2020 2019
  Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated
Revenues:            
Asset-based $ 257,057    $ —    $ 257,057    $ 229,004    $ —    $ 229,004   
Subscription-based 121,733    87,797    209,530    91,104    84,241    175,345   
Total recurring revenues 378,790    87,797    466,587    320,108    84,241    404,349   
Professional services and other revenues 7,315    7,950    15,265    9,487    10,275    19,762   
Total revenues $ 386,105    $ 95,747    $ 481,852    $ 329,595    $ 94,516    $ 424,111   
Summary of revenues from major customers
One customer accounted for more than 10% of the Company’s total revenues:

  Three Months Ended Six Months Ended
  June 30, June 30,
  2020 2019 2020 2019
Fidelity 15  % 15  % 15  % 15  %
Schedule of disaggregation of revenue by geography
The following table presents the Company’s revenues disaggregated by geography, based on the billing address of the customer:
  Three Months Ended Six Months Ended
  June 30, June 30,
  2020 2019 2020 2019
United States $ 230,102    $ 217,462    $ 470,554    $ 409,581   
International (1)
5,211    6,983    11,298    14,530   
Total revenues $ 235,313    $ 224,445    $ 481,852    $ 424,111   
(1) No foreign country accounted for more than 10% of the Company's total revenues.
Schedule of estimated revenue expected to be recognized in the future
The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 30, 2020: 
Years ending December 31,  
Remainder of 2020 $ 114,905   
2021 181,322   
2022 135,410   
2023 65,759   
2024 35,319   
Thereafter 35,393   
Total $ 568,108   
Schedule of costs of revenues by revenue category
The following table summarizes cost of revenues by revenue category:
  Three Months Ended Six Months Ended
  June 30, June 30,
  2020 2019 2020 2019
Asset-based $ 61,875    $ 60,293    $ 130,467    $ 114,135   
Subscription-based 6,807    6,697    13,084    14,374   
Professional services and other 167    5,090    231    5,216   
Total cost of revenues $ 68,849    $ 72,080    $ 143,782    $ 133,725