Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenue:    
Total revenue $ 324,950 $ 298,707
Operating expenses:    
Direct expense 126,633 109,679
Employee compensation 103,652 114,215
General and administrative 52,065 54,350
Depreciation and amortization 33,892 31,520
Total operating expenses 316,242 309,764
Income (loss) from operations 8,708 (11,057)
Other expense, net (6,664) (7,935)
Income (loss) before income tax provision 2,044 (18,992)
Income tax provision 1,505 23,769
Net income (loss) 539 (42,761)
Add: Net loss attributable to non-controlling interest 1,974 1,533
Net income (loss) attributable to Envestnet, Inc. $ 2,513 $ (41,228)
Net income (loss) attributable to Envestnet, Inc. per share:    
Basic (in dollars per share) $ 0.05 $ (0.76)
Diluted (in dollars per share) $ 0.05 $ (0.76)
Weighted average common shares outstanding:    
Basic (in shares) 54,884,074 54,143,259
Diluted (in shares) 55,385,066 54,143,259
Total recurring revenue    
Revenue:    
Total revenue $ 320,078 $ 294,011
Asset-based    
Revenue:    
Total revenue 202,616 176,932
Operating expenses:    
Direct expense 118,403 102,623
Subscription-based    
Revenue:    
Total revenue 117,462 117,079
Operating expenses:    
Direct expense 8,230 7,052
Professional services and other revenue    
Revenue:    
Total revenue 4,872 4,696
Operating expenses:    
Direct expense $ 0 $ 4