| Schedule of Disaggregation of Revenue by Major Source |
The following table presents the Company’s revenue by segment disaggregated by major source:
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Three Months Ended June 30, |
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2023 |
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2022 |
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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) |
| Revenue: |
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| Asset-based |
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$ |
185,762 |
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$ |
— |
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$ |
185,762 |
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$ |
191,972 |
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$ |
— |
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$ |
191,972 |
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| Subscription-based |
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75,509 |
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|
39,450 |
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|
114,959 |
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|
73,568 |
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|
44,552 |
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|
118,120 |
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| Total recurring revenue |
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261,271 |
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39,450 |
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300,721 |
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265,540 |
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44,552 |
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310,092 |
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| Professional services and other revenue |
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10,310 |
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|
1,403 |
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11,713 |
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|
6,460 |
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|
2,300 |
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|
8,760 |
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| Total revenue |
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$ |
271,581 |
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$ |
40,853 |
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$ |
312,434 |
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$ |
272,000 |
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$ |
46,852 |
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$ |
318,852 |
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Six Months Ended June 30, |
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2023 |
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2022 |
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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) |
| Revenue: |
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| Asset-based |
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$ |
362,694 |
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$ |
— |
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$ |
362,694 |
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$ |
394,689 |
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$ |
— |
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$ |
394,689 |
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| Subscription-based |
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151,994 |
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|
80,044 |
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|
232,038 |
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|
142,105 |
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|
90,749 |
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|
232,854 |
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| Total recurring revenue |
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514,688 |
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|
80,044 |
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594,732 |
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536,794 |
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|
90,749 |
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|
627,543 |
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| Professional services and other revenue |
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13,553 |
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|
2,856 |
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16,409 |
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|
8,774 |
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|
3,898 |
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|
12,672 |
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| Total revenue |
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$ |
528,241 |
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$ |
82,900 |
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$ |
611,141 |
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$ |
545,568 |
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$ |
94,647 |
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$ |
640,215 |
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| Schedule of Disaggregation of Revenue by Geography |
The following table presents the Company’s revenue disaggregated by geography, based on the billing address of the customer:
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2023 |
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2022 |
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2023 |
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2022 |
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(in thousands) |
| United States |
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$ |
306,946 |
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$ |
314,271 |
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$ |
600,160 |
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$ |
631,000 |
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| International |
|
5,488 |
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|
4,581 |
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|
10,981 |
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|
9,215 |
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| Total revenue |
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$ |
312,434 |
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$ |
318,852 |
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$ |
611,141 |
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$ |
640,215 |
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| Schedule of Direct Expense by Revenue Category |
The following table summarizes direct expense by revenue category:
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2023 |
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2022 |
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2023 |
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2022 |
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(in thousands) |
| Asset-based |
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$ |
108,532 |
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$ |
112,301 |
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$ |
211,155 |
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$ |
229,729 |
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| Subscription-based |
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6,933 |
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|
7,241 |
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|
13,295 |
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|
15,052 |
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| Professional services and other |
|
8,032 |
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|
6,940 |
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|
8,036 |
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|
6,983 |
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| Total direct expense |
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$ |
123,497 |
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$ |
126,482 |
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$ |
232,486 |
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$ |
251,764 |
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