Schedule of Disaggregation of Revenue by Major Source |
The following tables present the Company’s revenue by segment disaggregated by major source:
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Year Ended December 31, 2023 |
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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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$ |
745,238 |
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$ |
— |
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$ |
745,238 |
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Subscription-based |
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325,398 |
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|
139,332 |
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|
464,730 |
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Total recurring revenue |
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1,070,636 |
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|
139,332 |
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|
1,209,968 |
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Professional services and other revenue |
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24,068 |
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|
11,584 |
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|
35,652 |
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Total revenue |
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$ |
1,094,704 |
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$ |
150,916 |
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$ |
1,245,620 |
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Year Ended December 31, 2022 |
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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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$ |
738,228 |
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$ |
— |
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$ |
738,228 |
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Subscription-based |
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310,217 |
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|
167,627 |
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|
477,844 |
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Total recurring revenue |
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1,048,445 |
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167,627 |
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1,216,072 |
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Professional services and other revenue |
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16,799 |
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|
6,913 |
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|
23,712 |
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Total revenue |
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$ |
1,065,244 |
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$ |
174,540 |
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$ |
1,239,784 |
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Year Ended December 31, 2021 |
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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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$ |
709,376 |
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$ |
— |
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$ |
709,376 |
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Subscription-based |
|
280,076 |
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|
173,913 |
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|
453,989 |
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Total recurring revenue |
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989,452 |
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173,913 |
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1,163,365 |
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Professional services and other revenue |
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14,190 |
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|
8,962 |
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|
23,152 |
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Total revenue |
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$ |
1,003,642 |
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$ |
182,875 |
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$ |
1,186,517 |
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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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Year Ended December 31, |
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2023 |
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2022 |
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2021 |
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(in thousands) |
United States |
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$ |
1,223,246 |
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$ |
1,218,254 |
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$ |
1,166,251 |
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International |
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22,374 |
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21,530 |
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|
20,266 |
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Total revenue |
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$ |
1,245,620 |
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$ |
1,239,784 |
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$ |
1,186,517 |
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Schedule of Costs of Revenues by Revenue Category |
The following table summarizes direct expense by revenue category:
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Year Ended December 31, |
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2023 |
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2022 |
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2021 |
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(in thousands) |
Asset-based |
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$ |
434,123 |
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$ |
430,345 |
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$ |
393,717 |
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Subscription-based |
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30,814 |
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|
32,577 |
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|
29,445 |
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Professional services and other |
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8,101 |
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|
7,502 |
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|
561 |
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Total direct expense |
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$ |
473,038 |
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$ |
470,424 |
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$ |
423,723 |
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