Revenue and Cost of Revenues (Tables)
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3 Months Ended |
Mar. 31, 2021 |
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| Revenue from Contract with Customer [Abstract] |
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| Schedule of disaggregation of revenue by major source |
The following table presents the Company’s revenues disaggregated by major source:
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Three Months Ended March 31, |
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2021 |
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2020 |
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Envestnet Wealth Solutions |
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Envestnet Data & Analytics |
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Consolidated |
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Envestnet Wealth Solutions |
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Envestnet Data & Analytics |
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Consolidated |
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(in thousands) |
| Revenues: |
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| Asset-based |
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$ |
159,375 |
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$ |
— |
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$ |
159,375 |
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$ |
134,811 |
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$ |
— |
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$ |
134,811 |
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| Subscription-based |
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64,012 |
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45,817 |
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109,829 |
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60,323 |
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44,228 |
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104,551 |
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| Total recurring revenues |
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223,387 |
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45,817 |
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269,204 |
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195,134 |
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44,228 |
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239,362 |
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| Professional services and other revenues |
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3,023 |
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2,878 |
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5,901 |
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3,286 |
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3,891 |
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7,177 |
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| Total revenues |
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$ |
226,410 |
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$ |
48,695 |
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$ |
275,105 |
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$ |
198,420 |
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$ |
48,119 |
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$ |
246,539 |
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| Summary of revenues from major customers |
One customer accounted for more than 10% of the Company’s total revenues:
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Three Months Ended |
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March 31, |
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2021 |
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2020 |
| Fidelity |
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14 |
% |
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15 |
% |
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| 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:
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Three Months Ended |
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March 31, |
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2021 |
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2020 |
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(in thousands) |
| United States |
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$ |
270,072 |
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$ |
240,452 |
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International (1)
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5,033 |
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6,087 |
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| Total revenues |
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$ |
275,105 |
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$ |
246,539 |
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(1) No foreign country accounted for more than 10% of the Company's total revenues.
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| 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 March 31, 2021:
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| Years ending December 31, |
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(in thousands) |
| Remainder of 2021 |
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$ |
193,004 |
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| 2022 |
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187,479 |
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| 2023 |
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113,545 |
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| 2024 |
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58,523 |
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| 2025 |
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31,985 |
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| Thereafter |
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13,532 |
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| Total |
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$ |
598,068 |
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| Schedule of costs of revenues by revenue category |
The following table summarizes cost of revenues by revenue category:
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Three Months Ended |
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March 31, |
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2021 |
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2020 |
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(in thousands) |
| Asset-based |
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$ |
86,190 |
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$ |
68,592 |
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| Subscription-based |
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6,604 |
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6,277 |
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| Professional services and other |
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75 |
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64 |
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| Total cost of revenues |
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$ |
92,869 |
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$ |
74,933 |
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