Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.23.3
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Total revenue $ 316,847 $ 306,695 $ 927,988 $ 946,910
Operating expenses:        
Direct expense 119,538 110,108 352,024 361,872
Employee compensation 113,334 116,837 344,646 369,453
General and administrative 49,063 47,388 156,028 157,867
Depreciation and amortization 34,311 33,408 101,058 97,208
Total operating expenses 316,246 307,741 953,756 986,400
Income (loss) from operations 601 (1,046) (25,768) (39,490)
Other expense, net (4,369) (5,346) (19,706) (9,691)
Loss before income tax provision (benefit) (3,768) (6,392) (45,474) (49,181)
Income tax provision (benefit) (8,824) 2,271 15,363 (1,542)
Net income (loss) 5,056 (8,663) (60,837) (47,639)
Add: Net loss attributable to non-controlling interest 2,035 1,373 5,284 3,205
Net income (loss) attributable to Envestnet, Inc. $ 7,091 $ (7,290) $ (55,553) $ (44,434)
Net income (loss) attributable to Envestnet, Inc. per share:        
Basic (in dollars per share) $ 0.13 $ (0.13) $ (1.02) $ (0.81)
Diluted (in dollars per share) $ 0.13 $ (0.13) $ (1.02) $ (0.81)
Weighted average common shares outstanding:        
Basic (in shares) 54,562,270 55,226,777 54,380,231 55,109,387
Diluted (in shares) 54,970,616 55,226,777 54,380,231 55,109,387
Total recurring revenue        
Revenue:        
Total revenue $ 308,840 $ 300,878 $ 903,572 $ 928,421
Asset-based        
Revenue:        
Total revenue 193,901 177,131 556,595 571,820
Operating expenses:        
Direct expense 112,938 102,409 324,093 332,138
Subscription-based        
Revenue:        
Total revenue 114,939 123,747 346,977 356,601
Operating expenses:        
Direct expense 6,974 7,768 20,269 22,820
Professional services and other revenue        
Revenue:        
Total revenue $ 8,007 $ 5,817 24,416 18,489
Operating expenses:        
Direct expense     $ 7,662 $ 6,914