Quarterly report pursuant to Section 13 or 15(d)

Revenue and Cost of Revenues (Tables)

v3.21.2
Revenue and Cost of Revenues (Tables)
9 Months Ended
Sep. 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 September 30,
2021 2020
Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated
(in thousands)
Revenues:
Asset-based $ 184,008  $ —  $ 184,008  $ 137,744  $ —  $ 137,744 
Subscription-based 66,988  46,584  113,572  62,783  45,114  107,897 
Total recurring revenues 250,996  46,584  297,580  200,527  45,114  245,641 
Professional services and other revenues 3,738  1,735  5,473  3,767  3,151  6,918 
Total revenues $ 254,734  $ 48,319  $ 303,053  $ 204,294  $ 48,265  $ 252,559 

  Nine Months Ended September 30,
  2021 2020
  Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated
(in thousands)
Revenues:            
Asset-based $ 513,458  $ —  $ 513,458  $ 394,801  $ —  $ 394,801 
Subscription-based 197,663  138,242  335,905  184,516  132,911  317,427 
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:

  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:

  Three Months Ended Nine Months Ended
  September 30, September 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 Nine Months Ended
  September 30, September 30,
  2021 2020 2021 2020
(in thousands)
United States $ 298,022  $ 247,692  $ 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: 
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:
  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