| 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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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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$ |
219,485 |
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$ |
— |
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$ |
219,485 |
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|
$ |
185,762 |
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|
$ |
— |
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|
$ |
185,762 |
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| Subscription-based |
|
84,734 |
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|
33,254 |
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|
117,988 |
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|
79,744 |
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|
35,215 |
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|
114,959 |
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| Total recurring revenue |
|
304,219 |
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|
33,254 |
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|
337,473 |
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|
265,506 |
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|
35,215 |
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|
300,721 |
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| Professional services and other revenue |
|
7,889 |
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|
2,911 |
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|
10,800 |
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|
10,318 |
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|
1,395 |
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|
11,713 |
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| Total revenue |
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$ |
312,108 |
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|
$ |
36,165 |
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$ |
348,273 |
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$ |
275,824 |
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|
$ |
36,610 |
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|
$ |
312,434 |
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| |
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Six Months Ended June 30, |
| |
|
2024 |
|
2023 |
| |
|
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 |
|
Total |
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(in thousands) |
| Revenue: |
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|
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|
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| Asset-based |
|
$ |
422,101 |
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|
$ |
— |
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|
$ |
422,101 |
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|
$ |
362,694 |
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|
$ |
— |
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|
$ |
362,694 |
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| Subscription-based |
|
168,902 |
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|
66,548 |
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|
235,450 |
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|
160,214 |
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|
71,824 |
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|
232,038 |
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| Total recurring revenue |
|
591,003 |
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|
66,548 |
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|
657,551 |
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|
522,908 |
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|
71,824 |
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|
594,732 |
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| Professional services and other revenue |
|
10,915 |
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|
4,757 |
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|
15,672 |
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|
13,565 |
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|
2,844 |
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|
16,409 |
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| Total revenue |
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$ |
601,918 |
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|
$ |
71,305 |
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|
$ |
673,223 |
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|
$ |
536,473 |
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|
$ |
74,668 |
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|
$ |
611,141 |
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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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| |
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Three Months Ended |
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Six Months Ended |
| |
|
June 30, |
|
June 30, |
| |
|
2024 |
|
2023 |
|
2024 |
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2023 |
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(in thousands) |
| United States |
|
$ |
342,749 |
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|
$ |
306,946 |
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|
$ |
662,320 |
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|
$ |
600,160 |
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| International |
|
5,524 |
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|
5,488 |
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|
10,903 |
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|
10,981 |
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| Total revenue |
|
$ |
348,273 |
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|
$ |
312,434 |
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|
$ |
673,223 |
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|
$ |
611,141 |
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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 |
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Six Months Ended |
| |
|
June 30, |
|
June 30, |
| |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
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|
|
|
|
|
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(in thousands) |
| Asset-based |
|
$ |
130,116 |
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|
$ |
108,532 |
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|
$ |
248,519 |
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|
$ |
211,155 |
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| Subscription-based |
|
8,648 |
|
|
7,645 |
|
|
16,878 |
|
|
14,697 |
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| Professional services and other |
|
5,587 |
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|
8,032 |
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|
5,587 |
|
|
8,036 |
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| Total direct expense |
|
$ |
144,351 |
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|
$ |
124,209 |
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|
$ |
270,984 |
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|
$ |
233,888 |
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