| 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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2023 |
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2022 |
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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) |
| Revenue: |
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| Asset-based |
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$ |
176,932 |
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$ |
— |
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$ |
176,932 |
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$ |
202,717 |
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$ |
— |
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$ |
202,717 |
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| Subscription-based |
|
76,485 |
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|
40,594 |
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|
117,079 |
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|
68,537 |
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|
46,197 |
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|
114,734 |
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| Total recurring revenue |
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253,417 |
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40,594 |
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294,011 |
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|
271,254 |
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|
46,197 |
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|
317,451 |
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| Professional services and other revenue |
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3,243 |
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|
1,453 |
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4,696 |
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|
2,314 |
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|
1,598 |
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|
3,912 |
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| Total revenue |
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$ |
256,660 |
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$ |
42,047 |
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$ |
298,707 |
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$ |
273,568 |
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$ |
47,795 |
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$ |
321,363 |
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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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2023 |
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2022 |
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(in thousands) |
| United States |
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$ |
293,214 |
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$ |
316,729 |
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| International |
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|
5,493 |
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|
4,634 |
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| Total revenue |
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$ |
298,707 |
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$ |
321,363 |
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| Schedule of Direct Expense by Revenue Category |
The following table summarizes direct expense by revenue category:
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Three Months Ended |
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March 31, |
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2023 |
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2022 |
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(in thousands) |
| Asset-based |
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$ |
102,623 |
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$ |
117,428 |
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| Subscription-based |
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|
6,362 |
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|
7,811 |
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| Professional services and other |
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4 |
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|
43 |
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| Total direct expense |
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$ |
108,989 |
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$ |
125,282 |
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