| 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 September 30, |
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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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Total |
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Envestnet Wealth Solutions |
|
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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$ |
193,901 |
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$ |
— |
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$ |
193,901 |
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|
$ |
177,131 |
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|
$ |
— |
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|
$ |
177,131 |
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| Subscription-based |
|
76,813 |
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|
38,126 |
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|
114,939 |
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|
75,975 |
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|
47,772 |
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|
123,747 |
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| Total recurring revenue |
|
270,714 |
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|
38,126 |
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|
308,840 |
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|
253,106 |
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|
47,772 |
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|
300,878 |
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| Professional services and other revenue |
|
4,313 |
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|
3,694 |
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|
8,007 |
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|
4,229 |
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|
1,588 |
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|
5,817 |
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| Total revenue |
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$ |
275,027 |
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$ |
41,820 |
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$ |
316,847 |
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$ |
257,335 |
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$ |
49,360 |
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$ |
306,695 |
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| |
|
Nine Months Ended September 30, |
| |
|
2023 |
|
2022 |
| |
|
Envestnet Wealth Solutions |
|
Envestnet Data & Analytics |
|
Total |
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Envestnet Wealth Solutions |
|
Envestnet Data & Analytics |
|
Total |
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(in thousands) |
| Revenue: |
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|
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| Asset-based |
|
$ |
556,595 |
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|
$ |
— |
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|
$ |
556,595 |
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|
$ |
571,820 |
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|
$ |
— |
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|
$ |
571,820 |
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| Subscription-based |
|
228,807 |
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|
118,170 |
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|
346,977 |
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|
218,080 |
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|
138,521 |
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|
356,601 |
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| Total recurring revenue |
|
785,402 |
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|
118,170 |
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|
903,572 |
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|
789,900 |
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|
138,521 |
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|
928,421 |
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| Professional services and other revenue |
|
17,866 |
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|
6,550 |
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|
24,416 |
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|
13,003 |
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|
5,486 |
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|
18,489 |
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| Total revenue |
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$ |
803,268 |
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|
$ |
124,720 |
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|
$ |
927,988 |
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|
$ |
802,903 |
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|
$ |
144,007 |
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|
$ |
946,910 |
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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, |
|
September 30, |
| |
|
2023 |
|
2022 |
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2023 |
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2022 |
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(in thousands) |
| United States |
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$ |
311,045 |
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|
$ |
300,465 |
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|
$ |
911,205 |
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|
$ |
931,465 |
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| International |
|
5,802 |
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|
6,230 |
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|
16,783 |
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|
15,445 |
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| Total revenue |
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$ |
316,847 |
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|
$ |
306,695 |
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|
$ |
927,988 |
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|
$ |
946,910 |
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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, |
| |
|
2023 |
|
2022 |
|
2023 |
|
2022 |
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|
|
|
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|
|
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(in thousands) |
| Asset-based |
|
$ |
112,938 |
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|
$ |
102,409 |
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|
$ |
324,093 |
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|
$ |
332,138 |
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| Subscription-based |
|
6,974 |
|
|
7,768 |
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|
20,269 |
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|
22,820 |
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| Professional services and other |
|
(374) |
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|
(69) |
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|
7,662 |
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|
6,914 |
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| Total direct expense |
|
$ |
119,538 |
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|
$ |
110,108 |
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|
$ |
352,024 |
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|
$ |
361,872 |
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