| 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 March 31, |
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2024 |
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2023 |
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|
Envestnet Wealth Solutions |
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Envestnet Data & Analytics |
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Total |
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Envestnet Wealth Solutions |
|
Envestnet Data & Analytics |
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Total |
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(in thousands) |
| Revenue: |
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| Asset-based |
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$ |
202,616 |
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|
$ |
— |
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|
$ |
202,616 |
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|
$ |
176,932 |
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|
$ |
— |
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|
$ |
176,932 |
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| Subscription-based |
|
84,168 |
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|
33,294 |
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|
117,462 |
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|
80,470 |
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|
36,609 |
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|
117,079 |
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| Total recurring revenue |
|
286,784 |
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|
33,294 |
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|
320,078 |
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|
257,402 |
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|
36,609 |
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|
294,011 |
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| Professional services and other revenue |
|
3,026 |
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|
1,846 |
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|
4,872 |
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|
3,247 |
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|
1,449 |
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|
4,696 |
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| Total revenue |
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$ |
289,810 |
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|
$ |
35,140 |
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|
$ |
324,950 |
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|
$ |
260,649 |
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|
$ |
38,058 |
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|
$ |
298,707 |
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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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March 31, |
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|
|
|
|
2024 |
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2023 |
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(in thousands) |
| United States |
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|
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$ |
319,571 |
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|
$ |
293,214 |
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| International |
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|
|
|
|
5,379 |
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|
5,493 |
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| Total revenue |
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|
|
|
|
$ |
324,950 |
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|
$ |
298,707 |
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| Schedule of Direct Expense by Revenue Category |
The following table summarizes direct expense by revenue category:
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| |
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Three Months Ended |
| |
|
|
|
March 31, |
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|
|
|
|
|
2024 |
|
2023 |
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|
|
|
|
|
|
|
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(in thousands) |
| Asset-based |
|
|
|
|
|
$ |
118,403 |
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|
$ |
102,623 |
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| Subscription-based |
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|
|
|
|
8,230 |
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|
7,052 |
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| Professional services and other |
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|
|
|
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— |
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|
4 |
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| Total direct expense |
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|
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$ |
126,633 |
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|
$ |
109,679 |
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