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 September 30, |
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|
2021 |
|
2020 |
|
|
Envestnet Wealth Solutions |
|
Envestnet Data & Analytics |
|
Consolidated |
|
Envestnet Wealth Solutions |
|
Envestnet Data & Analytics |
|
Consolidated |
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(in thousands) |
Revenues: |
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|
|
|
|
|
Asset-based |
|
$ |
184,008 |
|
|
$ |
— |
|
|
$ |
184,008 |
|
|
$ |
137,744 |
|
|
$ |
— |
|
|
$ |
137,744 |
|
Subscription-based |
|
66,988 |
|
|
46,584 |
|
|
113,572 |
|
|
62,783 |
|
|
45,114 |
|
|
107,897 |
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Total recurring revenues |
|
250,996 |
|
|
46,584 |
|
|
297,580 |
|
|
200,527 |
|
|
45,114 |
|
|
245,641 |
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Professional services and other revenues |
|
3,738 |
|
|
1,735 |
|
|
5,473 |
|
|
3,767 |
|
|
3,151 |
|
|
6,918 |
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Total revenues |
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$ |
254,734 |
|
|
$ |
48,319 |
|
|
$ |
303,053 |
|
|
$ |
204,294 |
|
|
$ |
48,265 |
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|
$ |
252,559 |
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Nine Months Ended September 30, |
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|
2021 |
|
2020 |
|
|
Envestnet Wealth Solutions |
|
Envestnet Data & Analytics |
|
Consolidated |
|
Envestnet Wealth Solutions |
|
Envestnet Data & Analytics |
|
Consolidated |
|
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|
(in thousands) |
Revenues: |
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|
|
|
|
|
|
|
|
|
|
|
Asset-based |
|
$ |
513,458 |
|
|
$ |
— |
|
|
$ |
513,458 |
|
|
$ |
394,801 |
|
|
$ |
— |
|
|
$ |
394,801 |
|
Subscription-based |
|
197,663 |
|
|
138,242 |
|
|
335,905 |
|
|
184,516 |
|
|
132,911 |
|
|
317,427 |
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Total recurring revenues |
|
711,121 |
|
|
138,242 |
|
|
849,363 |
|
|
579,317 |
|
|
132,911 |
|
|
712,228 |
|
Professional services and other revenues |
|
10,320 |
|
|
7,213 |
|
|
17,533 |
|
|
11,082 |
|
|
11,101 |
|
|
22,183 |
|
Total revenues |
|
$ |
721,441 |
|
|
$ |
145,455 |
|
|
$ |
866,896 |
|
|
$ |
590,399 |
|
|
$ |
144,012 |
|
|
$ |
734,411 |
|
|
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 |
|
Nine Months Ended |
|
|
September 30, |
|
September 30, |
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Fidelity |
|
17 |
% |
|
15 |
% |
|
17 |
% |
|
15 |
% |
One customer accounted for more than 10% of the Envestnet Wealth Solutions segment’s revenues:
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Three Months Ended |
|
Nine Months Ended |
|
|
September 30, |
|
September 30, |
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Fidelity |
|
21 |
% |
|
18 |
% |
|
20 |
% |
|
18 |
% |
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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 |
|
Nine Months Ended |
|
|
September 30, |
|
September 30, |
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
|
|
|
|
|
|
|
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(in thousands) |
United States |
|
$ |
298,022 |
|
|
$ |
247,692 |
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|
$ |
851,683 |
|
|
$ |
718,246 |
|
International |
|
5,031 |
|
|
4,867 |
|
|
15,213 |
|
|
16,165 |
|
Total revenues |
|
$ |
303,053 |
|
|
$ |
252,559 |
|
|
$ |
866,896 |
|
|
$ |
734,411 |
|
|
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 September 30, 2021:
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Years ending December 31, |
|
(in thousands) |
Remainder of 2021 |
|
$ |
72,598 |
|
2022 |
|
236,203 |
|
2023 |
|
150,088 |
|
2024 |
|
79,617 |
|
2025 |
|
42,978 |
|
Thereafter |
|
22,606 |
|
Total |
|
$ |
604,090 |
|
|
Schedule of costs of revenues by revenue category |
The following table summarizes cost of revenues by revenue category:
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|
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|
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|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
September 30, |
|
September 30, |
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
Asset-based |
|
$ |
102,298 |
|
|
$ |
71,133 |
|
|
$ |
281,829 |
|
|
$ |
201,600 |
|
Subscription-based |
|
7,355 |
|
|
7,291 |
|
|
20,986 |
|
|
20,375 |
|
Professional services and other |
|
183 |
|
|
121 |
|
|
384 |
|
|
352 |
|
Total cost of revenues |
|
$ |
109,836 |
|
|
$ |
78,545 |
|
|
$ |
303,199 |
|
|
$ |
222,327 |
|
|