| Schedule of disaggregation of revenue by major source |
The following table presents the Company’s revenues disaggregated by major source:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
2021 |
|
2020 |
|
|
Envestnet Wealth Solutions |
|
Envestnet Data & Analytics |
|
Consolidated |
|
Envestnet Wealth Solutions |
|
Envestnet Data & Analytics |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
| Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
| Asset-based |
|
$ |
170,075 |
|
|
$ |
— |
|
|
$ |
170,075 |
|
|
$ |
122,246 |
|
|
$ |
— |
|
|
$ |
122,246 |
|
| Subscription-based |
|
66,663 |
|
|
45,841 |
|
|
112,504 |
|
|
61,410 |
|
|
43,569 |
|
|
104,979 |
|
| Total recurring revenues |
|
236,738 |
|
|
45,841 |
|
|
282,579 |
|
|
183,656 |
|
|
43,569 |
|
|
227,225 |
|
| Professional services and other revenues |
|
3,559 |
|
|
2,600 |
|
|
6,159 |
|
|
4,029 |
|
|
4,059 |
|
|
8,088 |
|
| Total revenues |
|
$ |
240,297 |
|
|
$ |
48,441 |
|
|
$ |
288,738 |
|
|
$ |
187,685 |
|
|
$ |
47,628 |
|
|
$ |
235,313 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended June 30, |
| |
|
2021 |
|
2020 |
| |
|
Envestnet Wealth Solutions |
|
Envestnet Data & Analytics |
|
Consolidated |
|
Envestnet Wealth Solutions |
|
Envestnet Data & Analytics |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
| Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
| Asset-based |
|
$ |
329,450 |
|
|
$ |
— |
|
|
$ |
329,450 |
|
|
$ |
257,057 |
|
|
$ |
— |
|
|
$ |
257,057 |
|
| Subscription-based |
|
130,675 |
|
|
91,658 |
|
|
222,333 |
|
|
121,733 |
|
|
87,797 |
|
|
209,530 |
|
| Total recurring revenues |
|
460,125 |
|
|
91,658 |
|
|
551,783 |
|
|
378,790 |
|
|
87,797 |
|
|
466,587 |
|
| Professional services and other revenues |
|
6,582 |
|
|
5,478 |
|
|
12,060 |
|
|
7,315 |
|
|
7,950 |
|
|
15,265 |
|
| Total revenues |
|
$ |
466,707 |
|
|
$ |
97,136 |
|
|
$ |
563,843 |
|
|
$ |
386,105 |
|
|
$ |
95,747 |
|
|
$ |
481,852 |
|
|
| Summary of revenues from major customers |
One customer accounted for more than 10% of the Company’s total revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
Six Months Ended |
| |
|
June 30, |
|
June 30, |
| |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
| Fidelity |
|
17 |
% |
|
15 |
% |
|
16 |
% |
|
15 |
% |
One customer accounted for more than 10% of the Envestnet Wealth Solutions segment’s revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
Six Months Ended |
| |
|
June 30, |
|
June 30, |
| |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
| Fidelity |
|
21 |
% |
|
18 |
% |
|
20 |
% |
|
18 |
% |
|
| Schedule of disaggregation of revenue by geography |
The following table presents the Company’s revenues disaggregated by geography, based on the billing address of the customer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
Six Months Ended |
| |
|
June 30, |
|
June 30, |
| |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
| United States |
|
$ |
283,589 |
|
|
$ |
230,102 |
|
|
$ |
553,661 |
|
|
$ |
470,554 |
|
| International |
|
5,149 |
|
|
5,211 |
|
|
10,182 |
|
|
11,298 |
|
| Total revenues |
|
$ |
288,738 |
|
|
$ |
235,313 |
|
|
$ |
563,843 |
|
|
$ |
481,852 |
|
|
| Schedule of estimated revenue expected to be recognized in the future |
The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 30, 2021:
|
|
|
|
|
|
|
|
|
| Years ending December 31, |
|
(in thousands) |
| Remainder of 2021 |
|
$ |
136,052 |
|
| 2022 |
|
204,602 |
|
| 2023 |
|
124,747 |
|
| 2024 |
|
65,749 |
|
| 2025 |
|
34,779 |
|
| Thereafter |
|
14,374 |
|
| Total |
|
$ |
580,303 |
|
|
| Schedule of costs of revenues by revenue category |
The following table summarizes cost of revenues by revenue category:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
Six Months Ended |
| |
|
June 30, |
|
June 30, |
| |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
| Asset-based |
|
$ |
93,341 |
|
|
$ |
61,875 |
|
|
$ |
179,531 |
|
|
$ |
130,467 |
|
| Subscription-based |
|
7,027 |
|
|
6,807 |
|
|
13,631 |
|
|
13,084 |
|
| Professional services and other |
|
126 |
|
|
167 |
|
|
201 |
|
|
231 |
|
| Total cost of revenues |
|
$ |
100,494 |
|
|
$ |
68,849 |
|
|
$ |
193,363 |
|
|
$ |
143,782 |
|
|