Revenue and Cost of Revenues (Tables)
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3 Months Ended |
Mar. 31, 2022 |
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| Revenue from Contract with Customer [Abstract] |
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| Schedule of Disaggregation of Revenue by Major Source |
The following table presents the Company’s revenues disaggregated by major source:
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Three Months Ended March 31, |
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2022 |
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2021 |
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Envestnet Wealth Solutions |
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Envestnet Data & Analytics |
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Consolidated |
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Envestnet Wealth Solutions |
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Envestnet Data & Analytics |
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Consolidated |
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(in thousands) |
| Revenues: |
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| Asset-based |
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$ |
202,717 |
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$ |
— |
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$ |
202,717 |
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$ |
159,375 |
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$ |
— |
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$ |
159,375 |
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| Subscription-based |
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68,537 |
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46,197 |
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114,734 |
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64,012 |
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45,817 |
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109,829 |
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| Total recurring revenues |
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271,254 |
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46,197 |
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317,451 |
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223,387 |
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45,817 |
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269,204 |
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| Professional services and other revenues |
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2,314 |
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1,598 |
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3,912 |
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3,023 |
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2,878 |
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5,901 |
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| Total revenues |
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$ |
273,568 |
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$ |
47,795 |
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$ |
321,363 |
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$ |
226,410 |
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$ |
48,695 |
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$ |
275,105 |
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| 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:
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Three Months Ended |
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March 31, |
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2022 |
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2021 |
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(in thousands) |
| United States |
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$ |
316,729 |
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$ |
270,072 |
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| International |
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4,634 |
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5,033 |
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| Total revenues |
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$ |
321,363 |
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$ |
275,105 |
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| Schedule of Estimated Revenue Expected to be Recognized in the Future |
The following table includes estimated revenue expected to be recognized in the future as of March 31, 2022:
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| Years ending December 31, |
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(in thousands) |
| Remainder of 2022 |
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$ |
201,257 |
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| 2023 |
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178,329 |
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| 2024 |
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102,504 |
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| 2025 |
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57,142 |
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| 2026 |
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29,564 |
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| Thereafter |
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6,878 |
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| Total |
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$ |
575,674 |
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| Schedule of Costs of Revenues by Revenue Category |
The following table summarizes cost of revenues by revenue category:
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Three Months Ended |
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March 31, |
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2022 |
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2021 |
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(in thousands) |
| Asset-based |
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$ |
117,428 |
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$ |
86,190 |
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| Subscription-based |
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7,811 |
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6,604 |
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| Professional services and other |
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43 |
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75 |
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| Total cost of revenues |
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$ |
125,282 |
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$ |
92,869 |
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