Shares of Envestnet, Inc. (ENV) have rallied 24.7% over the past year, outperforming the 19.6% growth of the industry it belongs to. The company has an impressive track record with respect to earnings surprise, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters and matching once. The average beat is 9.4%. Its earnings for 2024 and 2025 are anticipated to grow 23.6% and 14.8%, respectively, year over year. Factors That Bode Well Envestnet's robust recurring revenue is derive ...

BERWYN, Pa., May 15, 2024 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV) announced the winners of its 2024 Asset Manager of the Year Awards during a ceremony at the company's annual Elevate conference. Among the distinguished winners, Causeway Capital Management earned the prestigious title of Manager of the Year for its Causeway International Value ADR Strategy. Causeway Capital Management Named 2024 Asset Manager of the Year by Envestnet Now In Its 20th Year, Envestnet's Asset Manager of the Year Awards Prog ...

The company's shares have gained 74.5% in the past six months, outperforming the 13.2% rally of the industry it belongs to and the 16% rise of the Zacks S&P 500 Composite. Segmental Revenues Asset-based recurring revenues of $202.62 million, which represented 62.4% of the top line, increased 14.5% on a year-over-year basis. Professional services and other non-recurring revenues increased 3.7% from a year-ago quarter to $4.9 million. Subscription-based recurring revenues of $117.5 million increased marginall ...

Preeminent industry event hosts nearly 2,000 Advisors, RIAs, Enterprises and Fintechs who Seek Better Client Outcomes, Growth and Productivity through Envestnet's Wealth Management Platform BERWYN, Pa., May 14, 2024 /PRNewswire/ -- Envestnet (NYSE: ENV), a leading provider of integrated technology, data intelligence and wealth solutions, has kicked off its largest event of the year – Elevate 2024 – the wealth industry's premier technology conference. Taking place in Phoenix, AZ from May 13-15, 2024, nearly ...

Partnership to Provide Seamless Financial Planning Experiences for Financial Services Customers in the United States BERWYN, Pa., May 13, 2024 /PRNewswire/ -- Envestnet, a leading provider of integrated technology, intelligent data, and wealth solutions, and Salesforce, the global leader in CRM, today announced a partnership to deliver a connected and seamless financial planning experience for Envestnet customers using Salesforce's Financial Services Cloud (FSC).      The goal of the partnership is to deliv ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 001-34835 Envestnet, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpor ...

Financial Data and Key Metrics - Q1 revenue was $325 million, representing 9% growth over Q1 2023 [42] - Adjusted EBITDA was $70 million, with a 22% margin, up 350 basis points from Q1 2023 [43] - Adjusted EPS for Q1 was $0.60, up 30% from $0.46 in Q1 2023 [44] - AUM net flows were $12.5 billion, an annualized organic asset growth rate of 12% [44] - Free cash flow improved by over $40 million year-over-year, despite seasonality [44] Business Line Data and Key Metrics - $12.5 billion of AUM flows in Q1, compared to $30 billion for all of 2023 [50] - High-net-worth solutions, direct indexing, and tax overlay products saw year-over-year growth of over 38% in assets, accounts, and advisors [56] - Turnkey asset management program has over $450 billion of AUM, continuing to take market share [57] - Wealth Solutions subscription-based revenue grew 5% to $84 million in Q1, including $3 million from FIDx [86] Market Data and Key Metrics - Envestnet serves over 109,000 advisors with 19.6 million accounts, totaling over $6 trillion in platform assets [66] - AUMA accounts grew 11%, and AUMA accounts per advisor grew 10% [67] - Client service scores improved year-over-year [67] Company Strategy and Industry Competition - Envestnet is focused on delivering a best-in-class, one-stop technology and fiduciary platform, aligning with advisor preferences for seamless workflows [54] - The company is enhancing its proposal engine and managed account solutions to attract flows and accelerate revenue growth [55] - Envestnet is considered a premium product in the RIA space, with pricing leverage based on recent investments [14] - The company is bundling analytics and integrating managed accounts to create a more holistic relationship with RIAs [15] Management Commentary on Operating Environment and Future Outlook - Management views the $12.5 billion of AUM flows as evidence of the company's strategy working [3] - The company is focused on stabilizing its Data & Analytics business and reorienting it for future growth [9] - Envestnet expects to continue reducing its leverage ratio during 2024 [115] - The company anticipates revenue growth of 9% in Q2 2024, with adjusted EBITDA margins improving by 350 basis points [116] Other Important Information - Envestnet is generating 20 million insights daily, with 80 different use cases, including tax opportunities and annuity replacements [106] - The company is delivering these insights within the advisor's core user experience, making it easier to act on them [108] - Envestnet is enhancing its unified managed account and household capabilities to allow advisors to personalize portfolios at scale [69] Q&A Summary Question: Data & Analytics Trends - Envestnet is focused on stabilizing and reorienting its Data & Analytics business for future growth, with initiatives like improved uptime and API exchanges [9][10] Question: Differentiated Pricing Approach - Envestnet has a premium pricing strategy in the RIA space, leveraging its investments in trading platforms and client service [14][15] - The company is bundling analytics and integrating managed accounts to create a more holistic relationship with RIAs [15][16] Question: Free Cash Flow Seasonality - Q1 free cash flow improved by $42 million year-over-year, despite seasonality, and the company expects further improvements in 2024 [21][22] Question: Proprietary Managed Products Growth - High-net-worth, direct indexing, and tax overlay products are growing at over 38%, while proprietary models are seeing net outflows due to increased competition [60][61] Question: Data Insights Engine - Envestnet is generating 20 million insights daily, with key use cases including tax opportunities and annuity replacements, delivered within the advisor's core user experience [106][108] Question: AUMA Fee Rate Stability - The fee rate has remained stable despite a shift in mix towards lower-fee reporting assets, which are essential for client relationships but drag down the blended fee rate [118][119]

| --- | --- | --- | |-----------------------------|-------|-------| | | | | | | | | | Envestnet 1Q 2024 Earnings | | | | May 7, 2024 | | | Disclaimers 2 Cautionary Statement Regarding Forward-Looking Statements The forward-looking statements made in this presentation concerning, among other things, Envestnet, Inc.'s expected financial performance and outlook for the second quarter of 2024, its strategic and operational plans and growth strategy, are made pursuant to the safe harbor provisions of the Private ...

Envestnet (ENV) reported $324.95 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 8.8%. EPS of $0.60 for the same period compares to $0.46 a year ago.The reported revenue represents a surprise of +0.03% over the Zacks Consensus Estimate of $324.85 million. With the consensus EPS estimate being $0.54, the EPS surprise was +11.11%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Wall Street analysts forecast that Envestnet (ENV) will report quarterly earnings of $0.54 per share in its upcoming release, pointing to a year-over-year increase of 17.4%. It is anticipated that revenues will amount to $324.85 million, exhibiting an increase of 8.8% compared to the year-ago quarter.The consensus EPS estimate for the quarter has been revised 3.4% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial e ...