| 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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| |
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Three Months Ended September 30, |
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|
2024 |
|
2023 |
| |
|
Envestnet Wealth Solutions |
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Envestnet Data & Analytics |
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Total |
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Envestnet Wealth Solutions |
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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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$ |
224,980 |
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$ |
— |
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$ |
224,980 |
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|
$ |
193,901 |
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|
$ |
— |
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|
$ |
193,901 |
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| Subscription-based |
|
82,717 |
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|
32,685 |
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|
115,402 |
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|
81,000 |
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|
33,939 |
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|
114,939 |
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| Total recurring revenue |
|
307,697 |
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|
32,685 |
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|
340,382 |
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|
274,901 |
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|
33,939 |
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|
308,840 |
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| Professional services and other revenue |
|
3,826 |
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|
1,741 |
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|
5,567 |
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|
4,342 |
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|
3,665 |
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|
8,007 |
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| Total revenue |
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$ |
311,523 |
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$ |
34,426 |
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$ |
345,949 |
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$ |
279,243 |
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$ |
37,604 |
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$ |
316,847 |
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| |
|
Nine Months Ended September 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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| Asset-based |
|
$ |
647,081 |
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|
$ |
— |
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|
$ |
647,081 |
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|
$ |
556,595 |
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|
$ |
— |
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|
$ |
556,595 |
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| Subscription-based |
|
251,619 |
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|
99,233 |
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|
350,852 |
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|
241,214 |
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|
105,763 |
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|
346,977 |
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| Total recurring revenue |
|
898,700 |
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|
99,233 |
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|
997,933 |
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|
797,809 |
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|
105,763 |
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|
903,572 |
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| Professional services and other revenue |
|
14,741 |
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|
6,498 |
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|
21,239 |
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|
17,907 |
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|
6,509 |
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|
24,416 |
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| Total revenue |
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$ |
913,441 |
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|
$ |
105,731 |
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|
$ |
1,019,172 |
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|
$ |
815,716 |
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|
$ |
112,272 |
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|
$ |
927,988 |
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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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Nine Months Ended |
| |
|
September 30, |
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September 30, |
| |
|
2024 |
|
2023 |
|
2024 |
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2023 |
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(in thousands) |
| United States |
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$ |
339,415 |
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|
$ |
311,045 |
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|
$ |
1,001,735 |
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|
$ |
911,205 |
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| International |
|
6,534 |
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|
5,802 |
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|
17,437 |
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|
16,783 |
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| Total revenue |
|
$ |
345,949 |
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|
$ |
316,847 |
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|
$ |
1,019,172 |
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|
$ |
927,988 |
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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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Nine Months Ended |
| |
|
September 30, |
|
September 30, |
| |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
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|
|
|
|
|
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(in thousands) |
| Asset-based |
|
$ |
127,979 |
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|
$ |
112,938 |
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|
$ |
376,498 |
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|
$ |
324,093 |
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| Subscription-based |
|
8,597 |
|
|
7,857 |
|
|
25,475 |
|
|
22,554 |
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| Professional services and other |
|
(88) |
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|
(374) |
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|
5,499 |
|
|
7,662 |
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| Total direct expense |
|
$ |
136,488 |
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|
$ |
120,421 |
|
|
$ |
407,472 |
|
|
$ |
354,309 |
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