Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.23.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenue:    
Total revenue $ 298,707 $ 321,363
Operating expenses:    
Direct expense 108,989 125,282
Employee compensation 114,215 126,849
General and administrative 53,619 44,335
Depreciation and amortization 32,941 31,618
Total operating expenses 309,764 328,084
Loss from operations (11,057) (6,721)
Other expense, net (7,935) (5,967)
Loss before income tax provision (18,992) (12,688)
Income tax provision 23,769 2,020
Net loss (42,761) (14,708)
Add: Net loss attributable to non-controlling interest 1,533 849
Net loss attributable to Envestnet, Inc. $ (41,228) $ (13,859)
Net loss attributable to Envestnet, Inc. per share:    
Basic (in dollars per share) $ (0.76) $ (0.25)
Diluted (in dollars per share) $ (0.76) $ (0.25)
Weighted average common shares outstanding:    
Basic (in shares) 54,143,259 54,903,677
Diluted (in shares) 54,143,259 54,903,677
Total recurring revenue    
Revenue:    
Total revenue $ 294,011 $ 317,451
Asset-based    
Revenue:    
Total revenue 176,932 202,717
Operating expenses:    
Direct expense 102,623 117,428
Subscription-based    
Revenue:    
Total revenue 117,079 114,734
Operating expenses:    
Direct expense 6,362 7,811
Professional services and other revenue    
Revenue:    
Total revenue 4,696 3,912
Operating expenses:    
Direct expense $ 4 $ 43