Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.24.0.1
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue:      
Total revenue $ 1,245,620,000 $ 1,239,784,000 $ 1,186,517,000
Operating expenses:      
Direct expense 473,038,000 470,424,000 423,723,000
Employee compensation 444,828,000 490,725,000 432,829,000
General and administrative 210,113,000 218,831,000 171,657,000
Depreciation and amortization 130,304,000 125,828,000 117,767,000
Goodwill impairment 191,818,000 0 0
Total operating expenses 1,450,101,000 1,305,808,000 1,145,976,000
Income (loss) from operations (204,481,000) (66,024,000) 40,541,000
Other income (expense):      
Interest income 6,288,000 4,184,000 827,000
Interest expense (25,138,000) (16,843,000) (16,931,000)
Other income (expense), net (9,666,000) 264,000 (4,076,000)
Total other income (expense), net (28,516,000) (12,395,000) (20,180,000)
Income (loss) before income tax provision (232,997,000) (78,419,000) 20,361,000
Income tax provision 12,777,000 7,061,000 7,667,000
Net income (loss) (245,774,000) (85,480,000) 12,694,000
Add: Net loss attributable to non-controlling interest 7,050,000 4,541,000 602,000
Net income (loss) attributable to Envestnet, Inc. $ (238,724,000) $ (80,939,000) $ 13,296,000
Net income (loss) attributable to Envestnet, Inc. per share:      
Basic (in dollars per share) $ (4.38) $ (1.47) $ 0.24
Diluted (in dollars per share) $ (4.38) $ (1.59) $ 0.24
Weighted average common shares outstanding:      
Basic (in shares) 54,457,365 55,199,482 54,470,975
Diluted (in shares) 54,457,365 56,842,125 55,384,096
Total recurring revenue      
Revenue:      
Total revenue $ 1,209,968,000 $ 1,216,072,000 $ 1,163,365,000
Asset-based      
Revenue:      
Total revenue 745,238,000 738,228,000 709,376,000
Operating expenses:      
Direct expense 434,123,000 430,345,000 393,717,000
Subscription-based      
Revenue:      
Total revenue 464,730,000 477,844,000 453,989,000
Operating expenses:      
Direct expense 30,814,000 32,577,000 29,445,000
Professional services and other revenue      
Revenue:      
Total revenue 35,652,000 23,712,000 23,152,000
Operating expenses:      
Direct expense $ 8,101,000 $ 7,502,000 $ 561,000