Revenue and Cost of Revenues (Tables)

9 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

Schedule of disaggregation of revenue by major source

The following table presents the Company’s revenues disaggregated by major source:

	Three Months Ended September 30,
	2021						2020
	Envestnet Wealth Solutions		Envestnet Data & Analytics		Consolidated		Envestnet Wealth Solutions		Envestnet Data & Analytics		Consolidated
	(in thousands)
Revenues:
Asset-based	$	184,008	$	—	$	184,008	$	137,744	$	—	$	137,744
Subscription-based	66,988		46,584		113,572		62,783		45,114		107,897
Total recurring revenues	250,996		46,584		297,580		200,527		45,114		245,641
Professional services and other revenues	3,738		1,735		5,473		3,767		3,151		6,918
Total revenues	$	254,734	$	48,319	$	303,053	$	204,294	$	48,265	$	252,559

	Nine Months Ended September 30,
	2021						2020
	Envestnet Wealth Solutions		Envestnet Data & Analytics		Consolidated		Envestnet Wealth Solutions		Envestnet Data & Analytics		Consolidated
	(in thousands)
Revenues:
Asset-based	$	513,458	$	—	$	513,458	$	394,801	$	—	$	394,801
Subscription-based	197,663		138,242		335,905		184,516		132,911		317,427
Total recurring revenues	711,121		138,242		849,363		579,317		132,911		712,228
Professional services and other revenues	10,320		7,213		17,533		11,082		11,101		22,183
Total revenues	$	721,441	$	145,455	$	866,896	$	590,399	$	144,012	$	734,411

Summary of revenues from major customers

One customer accounted for more than 10% of the Company’s total revenues:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Fidelity	17	%	15	%	17	%	15	%

One customer accounted for more than 10% of the Envestnet Wealth Solutions segment’s revenues:

	Three Months Ended				Nine Months Ended
	September 30,				September 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				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
	(in thousands)
United States	$	298,022	$	247,692	$	851,683	$	718,246
International	5,031		4,867		15,213		16,165
Total revenues	$	303,053	$	252,559	$	866,896	$	734,411

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 September 30, 2021: 

Years ending December 31,	(in thousands)
Remainder of 2021	$	72,598
2022	236,203
2023	150,088
2024	79,617
2025	42,978
Thereafter	22,606
Total	$	604,090

Schedule of costs of revenues by revenue category

The following table summarizes cost of revenues by revenue category:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
	(in thousands)
Asset-based	$	102,298	$	71,133	$	281,829	$	201,600
Subscription-based	7,355		7,291		20,986		20,375
Professional services and other	183		121		384		352
Total cost of revenues	$	109,836	$	78,545	$	303,199	$	222,327