Quarterly report pursuant to Section 13 or 15(d)

Revenue and Cost of Revenues (Tables)

v3.21.2
Revenue and Cost of Revenues (Tables)
6 Months Ended
Jun. 30, 2021
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,
2021 2020
Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated
(in thousands)
Revenues:
Asset-based $ 170,075  $ —  $ 170,075  $ 122,246  $ —  $ 122,246 
Subscription-based 66,663  45,841  112,504  61,410  43,569  104,979 
Total recurring revenues 236,738  45,841  282,579  183,656  43,569  227,225 
Professional services and other revenues 3,559  2,600  6,159  4,029  4,059  8,088 
Total revenues $ 240,297  $ 48,441  $ 288,738  $ 187,685  $ 47,628  $ 235,313 

  Six Months Ended June 30,
  2021 2020
  Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated
(in thousands)
Revenues:            
Asset-based $ 329,450  $ —  $ 329,450  $ 257,057  $ —  $ 257,057 
Subscription-based 130,675  91,658  222,333  121,733  87,797  209,530 
Total recurring revenues 460,125  91,658  551,783  378,790  87,797  466,587 
Professional services and other revenues 6,582  5,478  12,060  7,315  7,950  15,265 
Total revenues $ 466,707  $ 97,136  $ 563,843  $ 386,105  $ 95,747  $ 481,852 
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,
  2021 2020 2021 2020
Fidelity 17  % 15  % 16  % 15  %
 
One customer accounted for more than 10% of the Envestnet Wealth Solutions segment’s revenues:

  Three Months Ended Six Months Ended
  June 30, June 30,
  2021 2020 2021 2020
Fidelity 21  % 18  % 20  % 18  %
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,
  2021 2020 2021 2020
(in thousands)
United States $ 283,589  $ 230,102  $ 553,661  $ 470,554 
International 5,149  5,211  10,182  11,298 
Total revenues $ 288,738  $ 235,313  $ 563,843  $ 481,852 
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, 2021: 
Years ending December 31, (in thousands)
Remainder of 2021 $ 136,052 
2022 204,602 
2023 124,747 
2024 65,749 
2025 34,779 
Thereafter 14,374 
Total $ 580,303 
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,
  2021 2020 2021 2020
(in thousands)
Asset-based $ 93,341  $ 61,875  $ 179,531  $ 130,467 
Subscription-based 7,027  6,807  13,631  13,084 
Professional services and other 126  167  201  231 
Total cost of revenues $ 100,494  $ 68,849  $ 193,363  $ 143,782