Envestnet (ENV) 10-Q 6 Aug 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Jul. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-34835
Entity Registrant Name	Envestnet, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1409613
Entity Address, Address Line One	35 East Wacker Drive
Entity Address, Address Line Two	Suite 2400
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60601
City Area Code	312
Local Phone Number	827-2800
Title of 12(b) Security	Common Stock, par value $0.005 per share
Trading Symbol	ENV
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		54,515,307
Entity Central Index Key	0001337619
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 369,524	$ 384,565
Fees receivable, net	81,037	80,064
Prepaid expenses and other current assets	40,619	40,570
Total current assets	491,180	505,199
Property and equipment, net	50,008	47,969
Internally developed software, net	114,770	96,501
Intangible assets, net	435,023	435,041
Goodwill	928,493	906,773
Operating lease right-of-use assets, net	93,298	105,249
Other non-current assets	57,924	47,558
Total assets	2,170,696	2,144,290
Current liabilities:
Accrued expenses and other liabilities	174,957	158,548
Accounts payable	20,423	18,003
Operating lease liabilities	12,477	13,649
Contingent consideration	1,312	11,251
Deferred revenue	38,645	34,918
Total current liabilities	247,814	236,369
Long-term debt	846,411	756,503
Non-current operating lease liabilities	107,045	112,182
Deferred tax liabilities, net	33,576	34,740
Other non-current liabilities	18,384	28,678
Total liabilities	1,253,230	1,168,472
Commitments and contingencies
Stockholders’ equity:
Preferred stock, par value $0.005, 50,000,000 shares authorized; no shares issued and outstanding as of June 30, 2021 and December 31, 2020	0	0
Common stock, par value $0.005, 500,000,000 shares authorized; 68,459,262 and 67,832,706 shares issued as of June 30, 2021 and December 31, 2020, respectively; 54,495,863 and 54,093,535 shares outstanding as of June 30, 2021 and December 31, 2020, respectively	342	339
Additional paid-in capital	1,089,263	1,166,774
Accumulated deficit	(44,619)	(79,912)
Treasury stock at cost, 13,963,399 and 13,739,171 shares as of June 30, 2021 and December 31, 2020, respectively	(125,583)	(110,466)
Accumulated other comprehensive loss	(2,286)	(398)
Total stockholders’ equity	917,117	976,337
Non-controlling interest	349	(519)
Total equity	917,466	975,818
Total liabilities and equity	$ 2,170,696	$ 2,144,290

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.005	$ 0.005
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.005	$ 0.005
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	68,459,262	67,832,706
Common stock, shares outstanding (in shares)	54,495,863	54,093,535
Treasury stock (in shares)	13,963,399	13,739,171

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Total revenues	$ 288,738	$ 235,313	$ 563,843	$ 481,852
Operating expenses:
Cost of revenues	100,494	68,849	193,363	143,782
Compensation and benefits	105,548	95,565	206,262	205,995
General and administration	41,755	38,448	78,070	79,558
Depreciation and amortization	30,010	28,443	58,402	56,126
Total operating expenses	277,807	231,305	536,097	485,461
Income (loss) from operations	10,931	4,008	27,746	(3,609)
Other expense, net	(3,784)	(8,173)	(11,252)	(9,710)
Income (loss) before income tax provision (benefit)	7,147	(4,165)	16,494	(13,319)
Income tax provision (benefit)	15,516	1,306	9,928	(658)
Net income (loss)	(8,369)	(5,471)	6,566	(12,661)
Add: Net loss attributable to non-controlling interest	88	547	99	401
Net income (loss) attributable to Envestnet, Inc.	$ (8,281)	$ (4,924)	$ 6,665	$ (12,260)
Net income (loss) per share attributable to Envestnet, Inc.:
Basic (in dollars per share)	$ (0.15)	$ (0.09)	$ 0.12	$ (0.23)
Diluted (in dollars per share)	$ (0.15)	$ (0.09)	$ 0.12	$ (0.23)
Weighted average common shares outstanding:
Basic (in shares)	54,440,388	53,562,850	54,325,353	53,288,741
Diluted (in shares)	54,440,388	53,562,850	55,136,946	53,288,741
Asset-based
Revenues:
Total revenues	$ 170,075	$ 122,246	$ 329,450	$ 257,057
Operating expenses:
Cost of revenues	93,341	61,875	179,531	130,467
Subscription-based
Revenues:
Total revenues	112,504	104,979	222,333	209,530
Operating expenses:
Cost of revenues	7,027	6,807	13,631	13,084
Total recurring revenues
Revenues:
Total revenues	282,579	227,225	551,783	466,587
Professional services and other revenues
Revenues:
Total revenues	6,159	8,088	12,060	15,265
Operating expenses:
Cost of revenues	$ 126	$ 167	$ 201	$ 231

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss) attributable to Envestnet, Inc.	$ (8,281)	$ (4,924)	$ 6,665	$ (12,260)
Foreign currency translation gains (losses), net of taxes	(1,264)	1,575	(1,888)	(1,449)
Comprehensive income (loss) attributable to Envestnet, Inc.	$ (9,545)	$ (3,349)	$ 4,777	$ (13,709)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Treasury Stock	Additional Paid-in Capital	Additional Paid-in CapitalCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment	Non-controlling Interest
Common stock, shares issued, beginning balance (in shares) at Dec. 31, 2019			66,320,706	(13,479,000)
Balance, at period start at Dec. 31, 2019	$ 867,576	$ (1,141)	$ 331	$ (90,965)	$ 1,037,141		$ (1,749)	$ (75,664)	$ (1,141)	$ (1,518)
Increase (decrease) in shareholders' equity
Exercise of stock options (in shares)			357,974
Exercise of stock options	3,408		$ 2		3,406
Issuance of common stock - vesting of restricted stock units (in shares)			398,881
Issuance of common stock - vesting of restricted stock units	2		$ 2
Stock-based compensation expense	13,765				13,765
Shares withheld to satisfy tax withholdings (in shares)				(130,164)
Shares withheld to satisfy tax withholdings	(9,199)			$ (9,199)
Foreign currency translation gains (losses), net of taxes	(3,024)						(3,024)
Net income (loss)	(7,190)							(7,336)		146
Common stock, shares issued ending balance (in shares) at Mar. 31, 2020			67,077,561	(13,609,164)
Balance, at period end at Mar. 31, 2020	864,197		$ 335	$ (100,164)	1,054,312		(4,773)	(84,141)		(1,372)
Common stock, shares issued, beginning balance (in shares) at Dec. 31, 2019			66,320,706	(13,479,000)
Balance, at period start at Dec. 31, 2019	867,576	(1,141)	$ 331	$ (90,965)	1,037,141		(1,749)	(75,664)	(1,141)	(1,518)
Increase (decrease) in shareholders' equity
Foreign currency translation gains (losses), net of taxes	(1,449)
Transfer of non-controlling units	771
Net income (loss)	(12,661)
Common stock, shares issued ending balance (in shares) at Jun. 30, 2020			67,396,243	(13,652,861)
Balance, at period end at Jun. 30, 2020	873,737		$ 337	$ (103,781)	1,071,502		(3,198)	(89,065)		(2,058)
Common stock, shares issued, beginning balance (in shares) at Dec. 31, 2019			66,320,706	(13,479,000)
Balance, at period start at Dec. 31, 2019	$ 867,576	(1,141)	$ 331	$ (90,965)	1,037,141		(1,749)	(75,664)	(1,141)	(1,518)
Increase (decrease) in shareholders' equity
Accounting Standards Update [Extensible List]
Common stock, shares issued ending balance (in shares) at Dec. 31, 2020	67,832,706		67,832,706	(13,739,171)
Balance, at period end at Dec. 31, 2020	$ 975,818	(79,842)	$ 339	$ (110,466)	1,166,774	$ (108,470)	(398)	(79,912)	28,628	(519)
Common stock, shares issued, beginning balance (in shares) at Mar. 31, 2020			67,077,561	(13,609,164)
Balance, at period start at Mar. 31, 2020	864,197		$ 335	$ (100,164)	1,054,312		(4,773)	(84,141)		(1,372)
Increase (decrease) in shareholders' equity
Exercise of stock options (in shares)			184,475
Exercise of stock options	3,275		$ 1		3,274
Issuance of common stock - vesting of restricted stock units (in shares)			134,207
Issuance of common stock - vesting of restricted stock units	1		$ 1
Stock-based compensation expense	13,006				13,006
Shares withheld to satisfy tax withholdings (in shares)				(43,697)
Shares withheld to satisfy tax withholdings	(3,617)			$ (3,617)
Foreign currency translation gains (losses), net of taxes	1,575						1,575
Transfer of non-controlling units	771				910					(139)
Net income (loss)	(5,471)							(4,924)		(547)
Common stock, shares issued ending balance (in shares) at Jun. 30, 2020			67,396,243	(13,652,861)
Balance, at period end at Jun. 30, 2020	$ 873,737		$ 337	$ (103,781)	1,071,502		(3,198)	(89,065)		(2,058)
Common stock, shares issued, beginning balance (in shares) at Dec. 31, 2020	67,832,706		67,832,706	(13,739,171)
Balance, at period start at Dec. 31, 2020	$ 975,818	(79,842)	$ 339	$ (110,466)	1,166,774	(108,470)	(398)	(79,912)	28,628	(519)
Increase (decrease) in shareholders' equity
Exercise of stock options (in shares)			27,043
Exercise of stock options	522				522
Issuance of common stock - vesting of restricted stock units (in shares)			455,349
Issuance of common stock - vesting of restricted stock units	2		$ 2
Stock-based compensation expense	14,013				14,013
Shares withheld to satisfy tax withholdings (in shares)				(147,041)
Shares withheld to satisfy tax withholdings	(9,541)			$ (9,541)
Share repurchase (in shares)				(24,227)
Share repurchase	(1,672)			$ (1,672)
Foreign currency translation gains (losses), net of taxes	(624)						(624)
Other	118									118
Net income (loss)	14,935							14,946		(11)
Common stock, shares issued ending balance (in shares) at Mar. 31, 2021			68,315,098	(13,910,439)
Balance, at period end at Mar. 31, 2021	$ 913,729		$ 341	$ (121,679)	1,072,839		(1,022)	(36,338)		(412)
Common stock, shares issued, beginning balance (in shares) at Dec. 31, 2020	67,832,706		67,832,706	(13,739,171)
Balance, at period start at Dec. 31, 2020	$ 975,818	$ (79,842)	$ 339	$ (110,466)	1,166,774	$ (108,470)	(398)	(79,912)	$ 28,628	(519)
Increase (decrease) in shareholders' equity
Exercise of stock options (in shares)	31,125
Foreign currency translation gains (losses), net of taxes	$ (1,888)
Transfer of non-controlling units	0
Net income (loss)	$ 6,566
Common stock, shares issued ending balance (in shares) at Jun. 30, 2021	68,459,262		68,459,262	(13,963,399)
Balance, at period end at Jun. 30, 2021	$ 917,466		$ 342	$ (125,583)	1,089,263		(2,286)	(44,619)		349
Common stock, shares issued, beginning balance (in shares) at Mar. 31, 2021			68,315,098	(13,910,439)
Balance, at period start at Mar. 31, 2021	913,729		$ 341	$ (121,679)	1,072,839		(1,022)	(36,338)		(412)
Increase (decrease) in shareholders' equity
Exercise of stock options (in shares)			4,082
Exercise of stock options	51				51
Issuance of common stock - vesting of restricted stock units (in shares)			140,082
Issuance of common stock - vesting of restricted stock units	1		$ 1
Stock-based compensation expense	17,161				17,161
Shares withheld to satisfy tax withholdings (in shares)				(46,699)
Shares withheld to satisfy tax withholdings	(3,479)			$ (3,479)
Share repurchase (in shares)				(6,261)
Share repurchase	(425)			$ (425)
Foreign currency translation gains (losses), net of taxes	(1,264)						(1,264)
Other	38									38
Capital contribution - non-controlling interest	23				(788)					811
Net income (loss)	$ (8,369)							(8,281)		(88)
Common stock, shares issued ending balance (in shares) at Jun. 30, 2021	68,459,262		68,459,262	(13,963,399)
Balance, at period end at Jun. 30, 2021	$ 917,466		$ 342	$ (125,583)	$ 1,089,263		$ (2,286)	$ (44,619)		$ 349

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Stockholders' Equity [Abstract]
Income tax expense	$ 15,516	$ 1,306	$ 9,928	$ (658)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
OPERATING ACTIVITIES:
Net income (loss)	$ 6,566	$ (12,661)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	58,402	56,126
Provision for doubtful accounts	455	1,515
Deferred income taxes	8,137	(1,598)
Non-cash compensation expense	31,422	29,869
Non-cash interest expense	2,906	5,907
Accretion on contingent consideration and purchase liability	575	910
Payments of contingent consideration	(2,360)	0
Fair market value adjustment to contingent consideration liability	(140)	(1,982)
Fair market value adjustment to investment in private company	(758)	0
Gain on acquisition of equity method investment	0	(4,230)
Loss allocation from equity method investments	4,045	3,286
Impairment of right of use assets	1,110	1,426
Other	282	556
Changes in operating assets and liabilities, net of acquisitions:
Fees receivable, net	(1,334)	(8,560)
Prepaid expenses and other current assets	(155)	(7,756)
Other non-current assets	3,665	(353)
Accrued expenses and other liabilities	527	(4,484)
Accounts payable	2,333	(2,130)
Deferred revenue	2,789	7,236
Other non-current liabilities	692	1,946
Net cash provided by operating activities	119,159	65,023
INVESTING ACTIVITIES:
Purchases of property and equipment	(11,357)	(4,329)
Capitalization of internally developed software	(31,802)	(25,703)
Investments in private companies	(4,549)	(12,625)
Acquisition of proprietary technology	(25,517)	0
Acquisitions of businesses, net of cash acquired	(33,143)	(20,257)
Advance for technology solutions	(3,000)	0
Net cash used in investing activities	(109,368)	(62,914)
FINANCING ACTIVITIES:
Proceeds from borrowings on revolving credit facility	0	45,000
Payments on revolving credit facility	0	(30,000)
Capital contributions - non-controlling shareholders	23	0
Payments of contingent consideration	(9,200)	0
Proceeds from exercise of stock options	573	6,683
Taxes paid in lieu of shares issued for stock-based compensation	(13,020)	(12,816)
Share repurchases	(2,097)	0
Other	(587)	3
Net cash (used in) provided by financing activities	(24,308)	8,870
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(524)	(1,342)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(15,041)	9,637
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	384,714	82,755
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD (See Note 2)	369,673	92,392
Supplemental disclosure of cash flow information - net cash paid during the period for income taxes	3,077	2,136
Supplemental disclosure of cash flow information - cash paid during the period for interest	5,533	7,861
Supplemental disclosure of non-cash operating, investing and financing activities:
Contingent consideration issued in acquisition of businesses	0	5,239
Purchase liabilities included in accrued expenses and other liabilities	0	632
Purchase liabilities included in other non-current liabilities	3,300	0
Purchase of fixed assets included in accounts payable and accrued expenses and other liabilities	832	1,139
Membership interest liabilities included in other non-current liabilities	248	3,098
Leasehold improvements funded by lease incentive	164	1,710
Assets obtained in exchange for lease liabilities	999	0
Transfer of non-controlling units	$ 0	$ 771

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Envestnet, Inc. (“Envestnet”) through its subsidiaries (collectively, the “Company”) is transforming the way financial advice and wellness are delivered. Its mission is to empower advisors and financial service providers with innovative technology, solutions and intelligence to make financial wellness a reality for everyone. Through a combination of platform enhancements, partnerships and acquisitions, Envestnet provides a unique financial network connecting technology, solutions and data, delivering better intelligence and enabling its customers to drive better outcomes. Envestnet is organized around two primary, complementary business segments. Financial information about each business segment is contained in “Note 15—Segment Information” to the condensed consolidated financial statements.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company as of June 30, 2021 and for the three and six months ended June 30, 2021 and 2020 have not been audited by an independent registered public accounting firm. These unaudited condensed consolidated financial statements have been prepared on the same basis as our audited consolidated financial statements for the year ended December 31, 2020 and reflect all normal recurring adjustments which are, in the opinion of management, necessary to present fairly the Company’s financial position as of June 30, 2021 and the results of operations, equity, comprehensive income (loss) and cash flows for the periods presented herein. The unaudited condensed consolidated financial statements include the accounts of the Company. All significant intercompany transactions and balances have been eliminated in consolidation. Accounts for the Envestnet Wealth Solutions segment that are denominated in a non-U.S. currency have been re-measured using the U.S. dollar as the functional currency. Certain accounts within the Envestnet Data & Analytics segment are recorded and measured in foreign currencies. The assets and liabilities for those subsidiaries with a functional currency other than the U.S. dollar are translated at exchange rates in effect at the balance sheet date, and revenues and expenses are translated at average exchange rates. Differences arising from these foreign currency translations are recorded in the unaudited condensed consolidated balance sheets as accumulated other comprehensive income (loss) within stockholders' equity. The Company is also subject to gains and losses from foreign currency denominated transactions and the remeasurement of foreign currency denominated balance sheet accounts, both of which are included in other expense, net in the condensed consolidated statements of operations. The results of operations for the three and six months ended June 30, 2021 are not necessarily indicative of the operating results to be expected for other interim periods or for the full fiscal year. The unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. References to GAAP in these notes are to the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification ™ , sometimes referred to as the codification or “ASC.” These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on February 26, 2021. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and accompanying notes. Actual results could differ from these estimates. The following table reconciles cash, cash equivalents and restricted cash from the condensed consolidated balance sheets to amounts reported within the condensed consolidated statements of cash flows: June 30, June 30, 2021 2020 (in thousands) Cash and cash equivalents $ 369,524 $ 92,244 Restricted cash included in prepaid expenses and other current assets 149 — Restricted cash included in other non-current assets — 148 Total cash, cash equivalents and restricted cash $ 369,673 $ 92,392 Financial Impacts Related To COVID-19 On March 11, 2020, the World Health Organization declared the outbreak of COVID-19, a novel strain of Coronavirus, a global pandemic. This outbreak continues to cause disruptions to businesses and markets worldwide as the virus spreads. The extent of the effect on the Company’s operational and financial performance will continue to depend on future developments, including the duration, spread and intensity of the pandemic, and governmental, regulatory and private sector responses, all of which are uncertain and difficult to predict. Although the Company is unable to estimate the overall financial effect of the pandemic at this time, as the pandemic continues, it could have a material adverse effect on the Company’s business, results of operations, financial condition and cash flows. As of June 30, 2021, these condensed consolidated financial statements do not reflect any adjustments as a result of the pandemic. Related Party Transactions The Company has a 4.3% membership interest in a private services company that it accounts for using the equity method of accounting and is considered to be a related party. Revenues from the private services company totaled $3.9 million and $2.4 million in the three months ended June 30, 2021 and 2020, respectively. Revenues from the private services company totaled $7.7 million and $5.1 million in the six months ended June 30, 2021 and 2020, respectively. As of June 30, 2021 and December 31, 2020, the Company had recorded a net receivable of $2.4 million and $2.1 million, respectively, from the private services company. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements —In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This update aims to reduce complexity within the accounting for income taxes as part of the simplification initiative. This standard is effective for financial statements issued by public companies for annual and interim periods beginning after December 15, 2020. These changes became effective for the Company's fiscal year beginning January 1, 2021. This standard will be applied prospectively. Adoption of this standard did not have a material impact on the Company's consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity.” This update simplifies the accounting for certain convertible instruments by reducing the number of accounting models available for convertible debt instruments and revises Topic 815-40, which provides guidance on how an entity must determine whether a contract qualifies for a scope exception from derivative accounting. Under the new guidance, the embedded conversion features are no longer separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives under Topic 815, or that do not result in substantial premiums accounted for as paid-in capital. The convertible debt instruments will be accounted for as a single liability measured at amortized cost. In addition, the new guidance requires the if-converted method to be applied for all convertible instruments. This standard is effective for financial statements issued by public companies for annual and interim periods beginning after December 15, 2021. Early adoption of the standard is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Adoption of the standard requires using either a modified retrospective or a full retrospective approach.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Acquisition of Proprietary Technology The Company previously owned approximately 29% of the outstanding units in a privately held company and accounted for it as an equity method investment. On March 11, 2021, the Company entered into an intellectual property purchase agreement with this privately held company to acquire all of the proprietary technology developed by the privately held company for approximately $35.5 million. Concurrent with the intellectual property purchase agreement, the Company also entered into a redemption agreement with the same privately held company to redeem its previously held equity interest for approximately $10.0 million. The Company accounted for these two arrangements as a single unit of account. As of the acquisition date, the net cost of the proprietary technology acquired, including capitalized transaction costs, was approximately $24.5 million, which will be amortized over a five-year period on a straight-line basis. The proprietary technology has been integrated into the Envestnet Wealth Solutions segment. Acquisition of Harvest On April 7, 2021, pursuant to an agreement and plan of merger (the “Merger Agreement”), dated as of March 31, 2021, between, among others, Harvest Savings & Wealth Technologies (“Harvest”), a Delaware corporation, and Bounty Merger Sub, Inc, a wholly-owned subsidiary of the Company (“Merger Sub”), the Company completed the merger of Harvest with and into Merger Sub, with Merger Sub continuing as the surviving corporation (the “Harvest Acquisition”) and operating as a wholly-owned subsidiary of Envestnet. Harvest has been integrated into the Envestnet Wealth Solutions segment. Harvest provides automated goals-based saving tools and wealth solutions to banks, credit unions, trust companies, and other financial institutions. The acquisition optimizes Envestnet's API-based financial wellness ecosystem, and also helps strengthen the Company's foothold to enable embedded finance, which Envestnet sees as a key driver of the future of financial services. In connection with the Harvest Acquisition, Envestnet paid estimated consideration of $32.8 million (of which $3.3 million is being held in escrow for 18 months after the closing date), net of cash acquired, subject to certain post-closing adjustments. Envestnet funded the acquisition with cash on hand. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition: Preliminary Estimate (in thousands) Total tangible assets acquired, net of cash $ 2,032 Total liabilities assumed (596) Identifiable intangible assets 9,500 Goodwill 21,858 Total net assets acquired $ 32,794 The goodwill arising from the acquisition represents the expected synergistic benefits of the transaction, primarily related to an increase in future revenues as a result of potential cross selling opportunities, as well as enhancements to our existing technologies. The goodwill is not deductible for income tax purposes. A summary of estimated intangible assets acquired, estimated useful lives and amortization method is as follows: Preliminary Estimate Estimated Useful Life in Years Amortization Method Proprietary technology $ 6,900 6 Straight-line Customer list $ 2,600 14 Accelerated Total intangible assets acquired $ 9,500 The estimated fair values of certain of the assets and liabilities acquired are provisional and based on information that was available to the Company as of the acquisition date. The estimated fair values of these provisional items are based on certain valuation and other studies that are in progress and not yet at the point where there is sufficient information for a definitive measurement. The Company believes the preliminary information provides a reasonable basis for estimating the fair values of these amounts, but is waiting for additional information necessary to finalize those fair values. Therefore, provisional measurements of fair values reflected herein are subject to change and such changes could be significant. The Company expects to finalize the valuation of tangible assets acquired, liabilities assumed, identifiable intangible assets and goodwill balances and complete the acquisition accounting as soon as reasonably practicable but no later than April 7, 2022. The results of Harvest’s operations are included in the condensed consolidated statements of operations beginning April 7, 2021 and were not considered material to the Company’s results of operations. For the three and six months ended June 30, 2021, the Company’s acquisition related costs were not material, and are included in general and administration expenses. The Company may incur additional acquisition related costs over the remainder of 2021.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	6 Months Ended
	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following: June 30, December 31, 2021 2020 (in thousands) Prepaid technology $ 17,032 $ 13,165 Non-income tax receivables 8,447 6,571 Income tax prepayments and receivables 2,928 1,684 Prepaid insurance 2,788 1,777 Advance payroll taxes and benefits 1,046 6,429 Other 8,378 10,944 Total prepaid expenses and other current assets $ 40,619 $ 40,570

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net consisted of the following: June 30, December 31, Estimated Useful Life 2021 2020 (in thousands) Cost: Computer equipment and software 3 years $ 71,506 $ 72,443 Leasehold improvements Shorter of the lease term or useful life of the asset 43,731 37,671 Office furniture and fixtures 3-7 years 12,148 11,249 Office equipment and other 3-5 years 5,709 7,151 Building and building improvements 7-39 years 2,669 2,669 Land Not applicable 940 940 136,703 132,123 Less: accumulated depreciation and amortization (86,695) (84,154) Total property and equipment, net $ 50,008 $ 47,969 During the three and six months ended June 30, 2021, the Company retired property and equipment that was no longer in service for the Envestnet Wealth Solutions segment with an historical cost of $5.1 million and $7.8 million, respectively. During the three and six months ended June 30, 2021, the Company retired an immaterial amount of property and equipment that was no longer in service for the Envestnet Data & Analytics segment. During the three and six months ended June 30, 2020, the Company retired property and equipment that was no longer in service for the Envestnet Wealth Solutions segment with an historical cost of $2.9 million and $4.5 million, respectively. During the three and six months ended June 30, 2020, the Company retired an immaterial amount of property and equipment that was no longer in service for the Envestnet Data & Analytics segment. Gains and losses on asset retirements during the three and six months ended June 30, 2021 and 2020 were not material. Depreciation and amortization expense was as follows: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Depreciation and amortization expense $ 5,246 $ 5,363 $ 10,889 $ 10,680

Internally Developed Software

Internally Developed Software	6 Months Ended
	Jun. 30, 2021
Research and Development [Abstract]
Internally Developed Software	Internally Developed Software Internally developed software, net consisted of the following: June 30, December 31, Estimated Useful Life 2021 2020 (in thousands) Internally developed software 5 years $ 191,421 $ 159,619 Less: accumulated amortization (76,651) (63,118) Internally developed software, net $ 114,770 $ 96,501 Amortization expense was as follows: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Amortization expense $ 7,262 $ 4,334 $ 13,533 $ 7,942

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	Goodwill and Intangible Assets, Net Changes in the carrying amount of goodwill were as follows: Envestnet Wealth Solutions Envestnet Data & Analytics Total (in thousands) Balance at December 31, 2020 $ 603,350 $ 303,423 $ 906,773 Harvest Acquisition 21,858 — 21,858 Foreign exchange rates — (138) (138) Balance at June 30, 2021 $ 625,208 $ 303,285 $ 928,493 Intangible assets, net consisted of the following: June 30, 2021 December 31, 2020 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Amortization Amount Amount Amortization Amount (in thousands) Customer lists $ 593,820 $ (221,893) $ 371,927 $ 591,520 $ (198,555) $ 392,965 Proprietary technologies 85,324 (33,876) 51,448 54,914 (26,949) 27,965 Trade names 33,700 (22,052) 11,648 33,700 (19,589) 14,111 Total intangible assets $ 712,844 $ (277,821) $ 435,023 $ 680,134 $ (245,093) $ 435,041 There were no material retirements of intangible assets during the three and six months ended June 30, 2021 and 2020. Amortization expense was as follows: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Amortization expense $ 17,502 $ 18,746 $ 33,980 $ 37,504

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following: June 30, December 31, 2021 2020 (in thousands) Accrued investment manager fees $ 79,007 $ 57,894 Accrued compensation and related taxes 63,938 71,039 Accrued professional services 8,039 9,240 Non-income tax payables 7,632 8,398 Accrued technology 5,435 4,701 Accrued purchase consideration 3,947 — Other accrued expenses 6,959 7,276 Total accrued expenses and other liabilities $ 174,957 $ 158,548 In the fourth quarter of 2020, as part of an organizational realignment, the Company entered into separation agreements with several employees. In connection with this realignment, the Company recognized $1.4 million and $5.2 million of severance expense in the three and six months ended June 30, 2021, respectively. The Company has approximately $2.7 million and $5.1 million in accrued compensation and related taxes associated with these separation agreements as of June 30, 2021 and December 31, 2020, respectively.

Debt

Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt The Company’s outstanding debt obligations as of June 30, 2021 and December 31, 2020 were as follows: June 30, December 31, 2021 2020 (in thousands) Revolving credit facility balance $ — $ — Convertible Notes due 2023 $ 345,000 $ 345,000 Unamortized issuance costs on Convertible Notes due 2023 (3,999) (4,306) Unaccreted discount on Convertible Notes due 2023 — (24,058) Convertible Notes due 2023 carrying value $ 341,001 $ 316,636 Convertible Notes due 2025 $ 517,500 $ 517,500 Unamortized issuance costs on Convertible Notes due 2025 (12,090) (11,731) Unaccreted discount on Convertible Notes due 2025 — (65,902) Convertible Notes due 2025 carrying value $ 505,410 $ 439,867 Amended Credit Agreement The credit agreement under which the Company’s revolving credit facility was issued (the “Amended Credit Agreement”) includes certain financial covenants and, as of June 30, 2021, the Company was in compliance with these requirements. As of June 30, 2021, the Company had $500.0 million available to borrow under the revolving credit facility, subject to covenant compliance. Convertible Notes due 2023 Upon adoption of ASU 2020-06, effective January 1, 2021, the embedded conversion option, or equity component, is no longer separated from the host contract and recognized within additional paid-in capital and is instead accounted for as a single liability measured at amortized cost within Long-term debt in the condensed consolidated balance sheets. Accordingly, the Convertible Notes due 2023 are presented in the condensed consolidated balance sheets at their gross proceeds of $345.0 million less unamortized debt issuance costs of $4.0 million as of June 30, 2021 with no future accretion of the original issue discount necessary. In connection with the issuance of the Convertible Notes due 2023, the Company incurred $10.0 million of issuance costs in 2018, of which $8.6 million was originally allocated to the debt component and presented net in Long-term debt and $1.4 million was originally allocated to the equity component and presented within additional paid-in capital in the condensed consolidated balance sheets. Upon adoption of ASU 2020-06, effective January 1, 2021, the costs originally allocated to the equity component are reflected within Long-term debt and are being amortized and recorded as additional interest expense over the life of the Convertible Notes due 2023. The effective interest rate of the Convertible Notes due 2023 was approximately 2.4% for the three and six months ended June 30, 2021. The effective interest rate of the Convertible Notes due 2023 was approximately 6% for the three and six months ended June 30, 2020. The effective interest rate of the Convertible Notes due 2023 is equal to the stated interest rate plus the amortization of the debt issuance costs subsequent to adoption. Prior to the adoption of ASU 2020-06, the effective interest rate calculation also included the amortization of the original issue discount. Convertible Notes due 2025 Upon adoption of ASU 2020-06, effective January 1, 2021, the embedded conversion option, or equity component, is no longer separated from the host contract and recognized within additional paid-in capital and is instead accounted for as a single liability measured at amortized cost within Long-term debt in the condensed consolidated balance sheets. Accordingly, the Convertible Notes due 2025 are presented in the condensed consolidated balance sheets at their gross proceeds of $517.5 million less unamortized debt issuance costs of $12.1 million as of June 30, 2021 with no future accretion of the original issue discount necessary. In connection with the issuance of the Convertible Notes due 2025, the Company incurred a total of $14.5 million of issuance costs in 2020, of which $12.6 million was originally allocated to the debt component and presented net in Long-term debt and $1.9 million was originally allocated to the equity component and presented within additional paid-in capital in the condensed consolidated balance sheets. Upon adoption of ASU 2020-06, effective January 1, 2021, the costs originally allocated to the equity component are reflected within Long-term debt and are being amortized and recorded as additional interest expense over the life of the Convertible Notes due 2025. The effective interest rate of the Convertible Notes due 2025 was approximately 1.3% for the three and six months ended June 30, 2021. The Convertible Notes due 2025 were not outstanding as of June 30, 2020. The effective interest rate of the Convertible Notes due 2025 was equal to the stated interest rate plus the amortization of the debt issuance costs subsequent to adoption. See “Note 14—Net Income (Loss) Per Share” for further discussion of the effect of conversion on net income per share. Interest Expense Interest expense was comprised of the following and is included in other expense, net in the condensed consolidated statements of operations: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Coupon interest $ 2,480 $ 1,510 $ 4,960 $ 3,011 Amortization of issuance costs 1,429 633 2,852 1,264 Undrawn and other fees 316 133 628 286 Interest on revolving credit facility — 2,009 — 4,527 Accretion of debt discount — 2,349 — 4,680 Total interest expense $ 4,225 $ 6,634 $ 8,440 $ 13,768 For the three and six months ended June 30, 2021, total interest expense related to the Convertible Notes due 2023 and the Convertible Notes due 2025 (collectively, the "Convertible Notes") was $3.7 million and $7.4 million, respectively, with coupon interest expense of $2.5 million and $5.0 million and the amortization of debt discount and issuance costs of $1.2 million and $2.4 million, respectively. For the three and six months ended June 30, 2020, total interest expense related to the Convertible Notes due 2023 was $4.3 million and $8.5 million, respectively, with coupon interest expense of $1.5 million and $3.0 million and the amortization of debt discount and issuance costs of $2.8 million and $5.5 million, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following tables set forth the fair value of the Company’s financial assets and liabilities measured at fair value on a recurring basis in the condensed consolidated balance sheets as of June 30, 2021 and December 31, 2020, based on the three-tier fair value hierarchy, as defined in ASC 820, “Fair Value Measurements and Disclosures”: June 30, 2021 Fair Value Level I Level II Level III (in thousands) Assets: Money market funds $ 2,340 $ 2,340 $ — $ — Investment in private company 1,508 — 1,508 — Assets to fund deferred compensation liability 10,806 — — 10,806 Total assets $ 14,654 $ 2,340 $ 1,508 $ 10,806 Liabilities: Contingent consideration $ 1,312 $ — $ — $ 1,312 Deferred compensation liability 9,414 9,414 — — Total liabilities $ 10,726 $ 9,414 $ — $ 1,312 December 31, 2020 Fair Value Level I Level II Level III (in thousands) Assets: Money market funds $ 84,110 $ 84,110 $ — $ — Assets to fund deferred compensation liability 9,961 — — 9,961 Total assets $ 94,071 $ 84,110 $ — $ 9,961 Liabilities: Contingent consideration $ 12,559 $ — $ — $ 12,559 Deferred compensation liability 8,720 8,720 — — Total liabilities $ 21,279 $ 8,720 $ — $ 12,559 The Company assesses the categorization of assets and liabilities by level at each measurement date, and transfers between levels are recognized on the actual date of the event or when changes in circumstances caused the transfer, in accordance with the Company’s accounting policy regarding the recognition of transfers between levels of the fair value hierarchy. There were no transfers between Levels I, II and III during the six months ended June 30, 2021. Fair Value of Investment in Private Company The Company has an investment of $1.5 million in a privately held company that it does not have the ability to exercise significant influence. The Company elected the measurement alternative for this investment as it did not have a readily determinable fair value. The investment is included in other non-current assets on the condensed consolidated balance sheets and measured at cost, less impairment, adjusted by observable price changes. Any adjustments resulting from impairment or observable price changes in orderly transactions for identical or similar investment of the same issuer are recorded within other expense, net in the condensed consolidated statements of operations and are considered to be a Level II fair value measurement. During the three and six months ended June 30, 2021, the Company recorded a $0.8 million adjustment to the carrying value of the investment, the result of observable price changes. Fair Value of Contingent Consideration Liabilities The fair value of the contingent consideration liabilities related to certain of the Company's acquisitions were estimated using a discounted cash flow method with significant inputs that are not observable in the market and thus represents a Level III fair value measurement. The significant inputs in the Company's Level III fair value measurement not supported by market activity included its assessments of expected future cash flows related to these acquisitions and their ability to meet the target performance objectives during the subsequent periods from the date of acquisition, which management believes are appropriately discounted considering the uncertainties associated with these obligations, and are calculated in accordance with the terms of their respective agreements. The Company will continue to reassess the fair values of the contingent consideration liabilities at each reporting date until settlement. Changes to these estimated fair values will be recognized in the Company's earnings and included in general and administration expenses in the condensed consolidated statements of operations. The table below presents a reconciliation of the Company's contingent consideration liabilities, which were measured at fair value on a recurring basis using significant unobservable inputs (Level III) for the period from December 31, 2020 to June 30, 2021: Fair Value of Contingent Consideration Liabilities (in thousands) Balance at December 31, 2020 $ 12,559 Fair market value adjustment on contingent consideration liability (140) Accretion on contingent consideration 453 Payments of contingent consideration (11,560) Balance at June 30, 2021 $ 1,312 Fair Value of Deferred Compensation Liability The table below presents a reconciliation of the assets used to fund deferred the Company's deferred compensation liability, which is measured at fair value on a recurring basis using significant unobservable inputs (Level III) for the period from December 31, 2020 to June 30, 2021: Fair Value of Assets to Fund Deferred Compensation Liability (in thousands) Balance at December 31, 2020 $ 9,961 Contributions 215 Fair value adjustments 630 Balance at June 30, 2021 $ 10,806 The fair market value of the assets used to fund the Company 's deferred compensation liability is based upon the cash surrender value of the Company 's life insurance premiums. The value of the assets used to fund the Company's deferred compensation liability, which are included in other non-current assets in the condensed consolidated balance sheets, increased due to funding of the plan and gains on the underlying investment vehicles. These gains are recognized in the Company's earnings and included in general and administration expenses in the condensed consolidated statements of operations. Fair Value of Debt Agreements The Company considered the Convertible Notes due 2023 and the Convertible Notes due 2025 to be Level II liabilities at June 30, 2021 and used a market approach to calculate their respective fair values. The estimated fair value for each convertible note was determined based on estimated or actual bids and offers in an over-the-counter market on June 30, 2021 (See “Note 9—Debt”). As of June 30, 2021, the carrying value of the Convertible Notes due 2023 equaled $341.0 million and represented the aggregate principal amount outstanding less the unamortized debt issuance costs. As of December 31, 2020, the carrying value of the Convertible Notes due 2023 equaled $316.6 million and represented the aggregate principal amount outstanding less the unamortized discount and debt issuance costs. As of June 30, 2021 and December 31, 2020, the estimated fair value of the Convertible Notes due 2023 was $427.8 million and $460.8 million, respectively. As of June 30, 2021, the carrying value of the Convertible Notes due 2025 equaled $505.4 million and represented the aggregate principal amount outstanding less the unamortized debt issuance costs. As of December 31, 2020, the carrying value of the Convertible Notes due 2025 equaled $439.9 million and represented the aggregate principal amount outstanding less the unamortized discount and debt issuance costs. As of June 30, 2021 and December 31, 2020, the estimated fair value of the Convertible Notes due 2025 was $514.6 million and $540.8 million, respectively. Fair Value of Other Financial Assets and Liabilities The Company considered the recorded value of its other financial assets and liabilities, which consist primarily of cash and cash equivalents, accounts receivable and accounts payable, to approximate the fair value of the respective assets and liabilities at June 30, 2021 based upon the short-term nature of these assets and liabilities.

Revenues and Cost of Revenues

Revenues and Cost of Revenues	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenues and Cost of Revenues	Revenues and Cost of Revenues Disaggregation of Revenue The following table presents the Company’s revenues disaggregated by major source: Three Months Ended June 30, 2021 2020 Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated (in thousands) Revenues: Asset-based $ 170,075 $ — $ 170,075 $ 122,246 $ — $ 122,246 Subscription-based 66,663 45,841 112,504 61,410 43,569 104,979 Total recurring revenues 236,738 45,841 282,579 183,656 43,569 227,225 Professional services and other revenues 3,559 2,600 6,159 4,029 4,059 8,088 Total revenues $ 240,297 $ 48,441 $ 288,738 $ 187,685 $ 47,628 $ 235,313 Six Months Ended June 30, 2021 2020 Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated (in thousands) Revenues: Asset-based $ 329,450 $ — $ 329,450 $ 257,057 $ — $ 257,057 Subscription-based 130,675 91,658 222,333 121,733 87,797 209,530 Total recurring revenues 460,125 91,658 551,783 378,790 87,797 466,587 Professional services and other revenues 6,582 5,478 12,060 7,315 7,950 15,265 Total revenues $ 466,707 $ 97,136 $ 563,843 $ 386,105 $ 95,747 $ 481,852 One customer accounted for more than 10% of the Company’s total revenues: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Fidelity 17 % 15 % 16 % 15 % One customer accounted for more than 10% of the Envestnet Wealth Solutions segment’s revenues: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Fidelity 21 % 18 % 20 % 18 % No single customer accounted for over 10% of the Envestnet Data & Analytics segment’s revenue for any period presented. The following table presents the Company’s revenues disaggregated by geography, based on the billing address of the customer: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) United States $ 283,589 $ 230,102 $ 553,661 $ 470,554 International 5,149 5,211 10,182 11,298 Total revenues $ 288,738 $ 235,313 $ 563,843 $ 481,852 Remaining Performance Obligations 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 June 30, 2021: Years ending December 31, (in thousands) Remainder of 2021 $ 136,052 2022 204,602 2023 124,747 2024 65,749 2025 34,779 Thereafter 14,374 Total $ 580,303 Only fixed consideration from significant contracts with customers is included in the amounts presented above. The Company has applied the practical expedients and exemption and therefore does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less; (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed; and (iii) contracts for which the variable consideration is allocated entirely to a wholly unsatisfied performance obligations or to a wholly unsatisfied promise to transfer a distinct service that forms part of a single performance obligation. Contract Balances Total deferred revenue as of June 30, 2021 increased by $2.9 million during the six months ended June 30, 2021, primarily the result of revenue growth, timing of cash receipts and revenue recognition. The majority of the Company's deferred revenue will be recognized over the course of the next twelve months. The amount of revenue recognized that was included in the opening deferred revenue balance was $9.5 million and $10.4 million for the three months ended June 30, 2021 and 2020, respectively. The amount of revenue recognized that was included in the opening deferred revenue balance was $26.3 million and $25.8 million for the six months ended June 30, 2021 and 2020, respectively. The majority of this revenue consists of subscription-based services and professional services arrangements. The amount of revenue recognized from performance obligations satisfied in prior periods was not material. Deferred Sales Incentive Compensation Deferred sales incentive compensation was $11.1 million and $10.8 million as of June 30, 2021 and December 31, 2020, respectively. Amortization expense for the deferred sales incentive compensation was $1.1 million and $1.0 million for the three months ended June 30, 2021 and 2020, respectively. Amortization expense for the deferred sales incentive compensation was $2.1 million for both the six months ended June 30, 2021 and 2020, respectively. Deferred sales incentive compensation is included in other non-current assets on the condensed consolidated balance sheets and amortization expense is included in compensation and benefits expenses on the condensed consolidated statements of operations. No significant impairment loss for capitalized costs was recorded during the periods. The Company has applied the practical expedient to recognize the incremental costs of obtaining contracts as an expense when incurred if the amortization period would have been one year or less. These costs are included in compensation and benefits expenses in the condensed consolidated statements of operations. Cost of Revenues The following table summarizes cost of revenues by revenue category: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Asset-based $ 93,341 $ 61,875 $ 179,531 $ 130,467 Subscription-based 7,027 6,807 13,631 13,084 Professional services and other 126 167 201 231 Total cost of revenues $ 100,494 $ 68,849 $ 193,363 $ 143,782

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company has stock options, restricted stock units (“RSUs”) and performance stock units (“PSUs”) outstanding under the 2010 Long-Term Incentive Plan (the “2010 Plan”) and the Envestnet, Inc. 2019 Acquisition Equity Incentive Plan (the “2019 Equity Plan”). As approved by the Company's shareholders at the Company's 2021 Annual Meeting of Shareholders, the 2010 Plan was amended whereby the maximum number of shares of common stock that may be delivered under the 2010 Plan was increased from 8,925,000 to 12,375,000. As of June 30, 2021, the maximum number of common shares available for future issuance under the Company’s plans is 3,718,681. Stock-based compensation expense under the Company’s plans was as follows: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Stock-based compensation expense $ 17,409 $ 13,006 $ 31,422 $ 26,771 Tax effect on stock-based compensation expense (4,439) (3,317) (8,013) (6,826) Net effect on income $ 12,970 $ 9,689 $ 23,409 $ 19,945 The tax effect on stock-based compensation expense above was calculated using a blended statutory rate of 25.5% for each of the three and six months ended June 30, 2021 and 2020. Stock Options The Company has not granted any stock options since January 2019. The following table summarizes option activity under the Company’s plans: Weighted-Average Weighted- Remaining Average Contractual Life Aggregate Options Exercise Price (Years) Intrinsic Value (in thousands) Outstanding as of December 31, 2020 438,040 $ 36.28 4.1 $ 20,156 Exercised (31,125) 18.42 Forfeited (1,277) 49.02 Outstanding as of June 30, 2021 405,638 37.61 3.8 15,517 Options exercisable 366,736 $ 36.40 3.4 $ 14,471 Exercise prices of stock options outstanding as of June 30, 2021 range from $10.40 to $55.29. At June 30, 2021, there was an immaterial amount of unrecognized stock-based compensation expense related to unvested stock options, which the Company expects to recognize over a weighted-average period of 0.6 years. Restricted Stock Units The Company has granted restricted stock units and performance-based stock units to employees that are unvested. Performance-based stock units vest upon the achievement of certain pre-established business and financial metrics as well as a subsequent service condition. The business and financial metrics governing the vesting of these performance-based stock units provide thresholds that dictate the number of shares to vest upon each evaluation date, which range from 50% to 150%. If these metrics are achieved, as defined in the individual grant terms, these shares would cliff vest three years from the grant date. The following is a summary of the activity for unvested restricted stock units and performance stock units granted under the Company’s plans: RSUs PSUs Number of Weighted- Number of Weighted- Outstanding as of December 31, 2020 1,345,347 $ 70.56 302,797 $ 72.50 Granted 1,134,299 70.40 110,301 70.29 Vested (568,131) 69.79 (27,300) 61.54 Forfeited (130,556) 70.49 (5,701) 80.87 Outstanding as of June 30, 2021 1,780,959 70.71 380,097 72.52

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table includes the Company’s income (loss) before income tax provision (benefit), income tax provision (benefit) and effective tax rate: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Income (loss) before income tax provision (benefit) $ 7,147 $ (4,165) $ 16,494 $ (13,319) Income tax provision (benefit) 15,516 1,306 9,928 (658) Effective tax rate 217.1 % (31.4) % 60.2 % 4.9 % Under ASC 740-270-25, the Company is required to report income tax expense by applying a projected annual effective tax rate (“AETR”) to ordinary pre-tax book income for the interim period. The tax impact of discrete items is accounted for separately in the period in which they occur. The effective tax rate (“ETR”) for the quarter is the result of the projected AETR applied to actual pre-tax book income plus discrete items as a percentage of actual pre-tax book income. Therefore, a change in pre-tax book income, either forecasted or actual year-to-date, from one period to the next will cause the ETR to change. For the three months and six months ended June 30, 2021 and 2020, the Company’s ETR was impacted by the change in forecasted and actual year-to-date pre-tax book income. For the three and six months ended June 30, 2021, the Company’s effective tax rate differed from the statutory rate primarily due to the increase in the valuation allowance the Company has placed on a portion of its U.S. deferred tax assets, including the valuation allowance impact of the Harvest acquisition, permanent book-tax differences, and the impact of state and local taxes offset by federal and state research and development (“R&D”) credits. For the three and six months ended June 30, 2020, the Company's effective tax rate differed from the statutory rate primarily due to the increase in the valuation allowance the Company has placed on a portion of its U.S. deferred tax assets and the impact of state and local taxes, partially offset by the permanent book tax differences, the windfall from stock-based compensation, impact of the Coronavirus Aid, Relief, and Economic Security Act related to net operating loss carryback and R&D credits.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share Prior to January 1, 2021, the Company accounted for the effect of its convertible notes using the treasury stock method since they may be settled in cash, shares or a combination thereof at the Company's option. Pursuant to the adoption of ASU 2020-06 on January 1, 2021, the Company now accounts for the effect of its convertible notes on diluted net income per share using the if-converted method (See “Note 2—Basis of Presentation” and “Note 9—Debt”). Basic net income (loss) per common share is computed by dividing net income (loss) available to common stockholders by the weighted average number of shares of common stock outstanding for the period. For the calculation of diluted net income (loss) per share, the basic weighted average number of shares is increased by the dilutive effect of stock options, common warrants, restricted stock awards and restricted stock units and convertible notes, if dilutive, using either the treasury method or if-converted method, as appropriate. The following table provides the numerators and denominators used in computing basic and diluted net income (loss) per share attributable to Envestnet, Inc.: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands, except share and per share data) Net income (loss) attributable to Envestnet, Inc. ( a ) $ (8,281) $ (4,924) $ 6,665 $ (12,260) Weighted-average common shares outstanding: Basic ( b ) 54,440,388 53,562,850 54,325,353 53,288,741 Effect of dilutive shares: Options to purchase common stock — — 210,381 — Unvested restricted stock units — — 536,186 — Warrants — — 65,026 — Diluted ( c ) 54,440,388 53,562,850 55,136,946 53,288,741 Net income (loss) per share attributable to Envestnet, Inc common stock: Basic ( a/b ) $ (0.15) $ (0.09) $ 0.12 $ (0.23) Diluted (a /c ) $ (0.15) $ (0.09) $ 0.12 $ (0.23) Securities that were anti-dilutive and therefore excluded from the computation of diluted net income (loss) per share were as follows: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Options to purchase common stock 405,638 600,924 — 600,924 Unvested RSUs and PSUs 2,161,056 1,922,978 39,652 1,922,978 Warrants 470,000 470,000 — 470,000 Convertible Notes 9,898,549 5,050,505 9,898,549 5,050,505 Total anti-dilutive securities 12,935,243 8,044,407 9,938,201 8,044,407

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information Business segments are generally organized around the Company's business services. The Company's business segments are: • Envestnet Wealth Solutions – a leading provider of unified wealth management software and services to empower financial advisors and institutions. • Envestnet Data & Analytics – a leading data aggregation and data intelligence platform powering dynamic, cloud-based innovation for digital financial services. The following table presents a reconciliation from income (loss) from operations by segment to consolidated net income (loss) attributable to Envestnet, Inc.: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Envestnet Wealth Solutions $ 32,459 $ 19,867 $ 66,656 $ 31,207 Envestnet Data & Analytics 1,342 (941) 2,631 (5,526) Nonsegment operating expenses (22,870) (14,918) (41,541) (29,290) Income (loss) from operations 10,931 4,008 27,746 (3,609) Other expense, net (3,784) (8,173) (11,252) (9,710) Consolidated income (loss) before income tax benefit 7,147 (4,165) 16,494 (13,319) Income tax provision (benefit) 15,516 1,306 9,928 (658) Consolidated net income (loss) (8,369) (5,471) 6,566 (12,661) Add: Net loss attributable to non-controlling interest 88 547 99 401 Consolidated net income (loss) attributable to Envestnet, Inc. $ (8,281) $ (4,924) $ 6,665 $ (12,260) The information in the above table is derived from the Company’s internal financial reporting used for corporate management purposes. Nonsegment operating expenses may include salary and benefits for certain corporate officers, certain types of professional service expenses and insurance, acquisition related transaction costs, restructuring charges and other non-recurring and/or non-operationally related expenses. Intersegment revenues were not material for the three and six months ended June 30, 2021 and 2020. A summary of consolidated total assets follows: June 30, December 31, 2021 2020 (in thousands) Envestnet Wealth Solutions $ 1,661,332 $ 1,634,153 Envestnet Data & Analytics 509,364 510,137 Consolidated total assets $ 2,170,696 $ 2,144,290 See “Note 11—Revenues and Cost of Revenues” for detail of revenues by segment.

Geographical Information

Geographical Information	6 Months Ended
	Jun. 30, 2021
Segments, Geographical Areas [Abstract]
Geographical Information	Geographical Information The following table sets forth certain long-lived assets including property and equipment, net and internally developed software, net by geographic area: June 30, December 31, 2021 2020 (in thousands) United States $ 161,686 $ 140,651 India 2,642 2,970 Other 450 849 Total long-lived assets, net $ 164,778 $ 144,470 See “Note 11—Revenues and Cost of Revenues” for detail of revenues by geographic area.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Obligations and Indemnifications The Company includes various types of indemnification and guarantee clauses in certain arrangements. These indemnifications and guarantees may include, but are not limited to, infringement claims related to intellectual property, direct or consequential damages and guarantees to certain service providers and service level requirements with certain customers. The type and amount of any potential indemnification or guarantee varies substantially based on the nature of each arrangement. The Company has experienced no previous claims and cannot determine the maximum amount of potential future payments, if any, related to such indemnification and guarantee provisions. The Company believes that it is unlikely it will have to make material payments under these arrangements and therefore has not recorded a contingent liability associated with these arrangements in the condensed consolidated balance sheets. The Company enters into unconditional purchase obligations arrangements for certain of its services that it receives in the normal course of business. Procurement of Technology Solutions On June 21, 2021, the Company entered into a purchase agreement with a privately held company to acquire the technology solutions being developed by this privately held company for a purchase price of $18.0 million, including an advance of $3.0 million. The transaction is expected to close no later than December 31, 2022. In addition, the agreement includes an earn-out payment of $10.0 million based upon achievement of certain target metrics within five years after the date of the Company’s launch of the technology solutions. Legal Proceedings The Company and its subsidiary, Yodlee, Inc. (“Yodlee”), have been named as defendants in a lawsuit filed on July 17, 2019, by FinancialApps, LLC (“FinancialApps”) in the United States District Court for the District of Delaware. The case caption is FinancialApps, LLC v. Envestnet Inc., et al., No. 19-cv-1337 (D. Del.). FinancialApps alleges that, after entering into a 2017 services agreement with Yodlee, Envestnet and Yodlee breached the agreement and misappropriated proprietary information to develop competing credit risk assessment software. The complaint includes claims for, among other things, misappropriation of trade secrets, fraud, tortious interference with prospective business opportunities, unfair competition, copyright infringement and breach of contract. FinancialApps is seeking significant monetary damages and various equitable and injunctive relief. On September 17, 2019, the Company and Yodlee filed a motion to dismiss certain of the claims in the complaint filed by FinancialApps, including the copyright infringement, unfair competition and fraud claims. On August 25, 2020, the District Court granted in part and denied in part the Company and Yodlee’s motion. Specifically, the Company and Yodlee prevailed on FinancialApps’ counts alleging copyright infringement and violations of the Illinois Deceptive Trade Practices Act. And while the Court was receptive to Envestnet and Yodlee’s argument that several of FinancialApps’ other counts are based on allegations that amount to copyright infringement—and therefore should fail due to copyright preemption—the Court found that FinancialApps had alleged enough conduct distinct from copyright infringement to survive dismissal at this early stage. On October 30, 2019, the Company and Yodlee filed counterclaims against FinancialApps. Yodlee alleges that FinancialApps fraudulently induced it to enter into contracts with FinancialApps, then breached those contracts. FinancialApps has filed a motion to dismiss Yodlee’s counterclaims. On September 15, 2020, the District Court denied FinancialApps’ motion on all counts except for the breach-of-contract claim which was dismissed on a pleading technicality without prejudice. On that count, the Court granted Yodlee leave to amend its counterclaim, cure the technical deficiency, and reassert its claim. Yodlee and Envestnet filed amended counterclaims on September 30, 2020. The amended counterclaims (1) cure that technical deficiency and reassert Yodlee’s contract counterclaim; and (2) broaden the defamation counterclaims arising out of various defamatory statements FinancialApps disseminated in the trade press after filing the lawsuit. On January 14, 2021, the Court ordered that (i) FinancialApps’s claims against Yodlee—as well as Yodlee’s counterclaims against FinancialApps—must be tried before the judge instead of a jury pursuant to a jury waiver provision in the parties’ agreement; and (ii) FinancialApps’s claims against Envestnet (and Envestnet’s counterclaim) must be heard by a jury. The Court has scheduled the Envestnet jury trial to take place before the Yodlee bench trial. Fact discovery closed on April 23, 2021, other than a few outstanding matters, and expert discovery is underway. The Company believes FinancialApps’s allegations are without merit and will continue to defend the claims against it and litigate the counterclaims vigorously. The Company and Yodlee were also named as defendants in a putative class action lawsuit filed on August 25, 2020, by Plaintiff Deborah Wesch in the United States District Court for the Northern District of California. On October 21, 2020, an amended class action complaint was filed by Plaintiff Wesch and nine additional named plaintiffs. The case caption is Deborah Wesch, et al., v. Yodlee, Inc., et al., Case No. 3:20-cv-05991-SK. Plaintiffs allege that Yodlee unlawfully collected their financial transaction data when plaintiffs linked their bank accounts to a mobile application that uses Yodlee’s API, and plaintiffs further allege that Yodlee unlawfully sold the transaction data to third parties. The complaint alleges violations of certain California statutes and common law, including the Unfair Competition Law, and federal statutes, including the Stored Communications Act. Plaintiffs are seeking monetary damages and equitable and injunctive relief on behalf of themselves and a putative nationwide class and California subclass of persons who provided their log-in credentials to a Yodlee-powered app in an allegedly similar manner from 2014 to the present. The Company believes that it is not properly named as a defendant in the lawsuit and it further believes, along with Yodlee, that plaintiffs’ claims are without merit. On November 4, 2020, the Company and Yodlee filed separate motions to dismiss all of the claims in the complaint. On February 16, 2021, the district court granted in part and denied in part Yodlee’s motion to dismiss the amended complaint and granted the plaintiffs leave to further amend. The court reserved ruling on the Company’s motion to dismiss and granted limited jurisdictional discovery to the plaintiffs. On March 15, 2021, Plaintiffs filed a second amended class action complaint re-alleging, among others, the claims the district court had dismissed. The second amended complaint did not allege any claims against the Company or Yodlee that were not previously alleged in first amended complaint. On May 5, 2021, the Company filed a motion to dismiss all claims asserted against it in the second amended complaint, and Yodlee filed a motion to dismiss most claims asserted against it in the second amended complaint. On July 19, 2021, the court granted in part Yodlee’s motion, resulting in the dismissal of all federal law claims and two of the state-law claims. The Company’s motion to dismiss is pending. The Company and Yodlee will continue to vigorously defend the claims against it. The Company’s subsidiary, Envestnet Asset Management, Inc. (“EAM”), has been named as a defendant in two putative class action lawsuits filed on December 28, 2020 and March 4, 2021, respectively, in the United States District Court for the Northern District of Alabama. The case captions are Drake v. BBVA USA Bancshares, Inc. et al., No. 2:20-CV-02076-ACA (“Drake”) and Ferguson v. BBVA Compass Bancshares, Inc. et al, No. 2:19-CV-01135-MHH (“Ferguson”). The material allegations of both cases are identical. The plaintiff alleges that EAM, acting as investment advisor to BBVA USA Bancshares, Inc.’s Compass SmartInvestor 401(k) Plan (the “SmartInvestor Plan”), along with BBVA and others, breached its fiduciary duties under the Employee Retirement Income Security Act of 1974 (“ERISA”) in connection with the selection and maintenance of the SmartInvestor Plan’s investment options. The plaintiff seeks unspecified damages on behalf of a class of SmartInvestor Plan participants from July 17, 2013 through December 28, 2020. EAM has asked the court to dismiss the Drake lawsuit against it on grounds that it is not properly named as a defendant in the lawsuit and it further believes, along with BBVA, that the claims are without merit. The Ferguson case has been stayed by the court until the Drake court decides whether that case should continue, and if so, whether the two cases should be consolidated before one court. EAM will continue to vigorously defend the claims against it. In addition, the Company is involved in legal proceedings arising in the ordinary course of its business. Legal fees and other costs associated with such actions are expensed as incurred. The Company will record a provision for these claims when it is both probable that a liability has been incurred and the amount of the loss, or a range of the potential loss, can be reasonably estimated. These provisions are reviewed regularly and adjusted to reflect the impacts of negotiations, settlements, rulings, advice of legal counsel, and other information or events pertaining to a particular case. For litigation matters where a loss may be reasonably possible, but not probable, or is probable but not reasonably estimable, no accrual is established, but if the matter is material, it is subject to disclosures. The Company believes that liabilities associated with any claims, while possible, are not probable, and therefore has not recorded an accrual for any claims as of June 30, 2021. Further, while any possible range of loss cannot be reasonably estimated at this time, the Company does not believe that the outcome of any of these proceedings, individually or in the aggregate, would, if determined adversely to it, have a material adverse effect on its financial condition or business, although an adverse resolution of legal proceedings could have a material adverse effect on the Company's results of operations or cash flow in a particular quarter or year. Contingencies Certain of the Company’s revenues are subject to sales and use taxes in certain jurisdictions where it conducts business in the United States. As of June 30, 2021 and December 31, 2020, the Company estimated a sales and use tax liability of $6.2 million and $6.6 million, respectively, related to revenues in multiple jurisdictions. This amount is included in accrued expenses and other liabilities in the condensed consolidated balance sheets. As of June 30, 2021 and December 31, 2020, the Company also estimated a sales and use tax receivable of $3.3 million and $2.1 million, respectively, related to the estimated recoverability of a portion of the liability from customers. This amount is included in prepaid expenses and other current assets in the condensed consolidated balance sheets. Additional future information obtained from the applicable jurisdictions may affect the Company's estimate of its sales and use tax liability, but such change in the estimate cannot currently be made.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements —In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This update aims to reduce complexity within the accounting for income taxes as part of the simplification initiative. This standard is effective for financial statements issued by public companies for annual and interim periods beginning after December 15, 2020. These changes became effective for the Company's fiscal year beginning January 1, 2021. This standard will be applied prospectively. Adoption of this standard did not have a material impact on the Company's consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity.” This update simplifies the accounting for certain convertible instruments by reducing the number of accounting models available for convertible debt instruments and revises Topic 815-40, which provides guidance on how an entity must determine whether a contract qualifies for a scope exception from derivative accounting. Under the new guidance, the embedded conversion features are no longer separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives under Topic 815, or that do not result in substantial premiums accounted for as paid-in capital. The convertible debt instruments will be accounted for as a single liability measured at amortized cost. In addition, the new guidance requires the if-converted method to be applied for all convertible instruments. This standard is effective for financial statements issued by public companies for annual and interim periods beginning after December 15, 2021. Early adoption of the standard is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Adoption of the standard requires using either a modified retrospective or a full retrospective approach.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Schedule of cash and cash equivalents	The following table reconciles cash, cash equivalents and restricted cash from the condensed consolidated balance sheets to amounts reported within the condensed consolidated statements of cash flows: June 30, June 30, 2021 2020 (in thousands) Cash and cash equivalents $ 369,524 $ 92,244 Restricted cash included in prepaid expenses and other current assets 149 — Restricted cash included in other non-current assets — 148 Total cash, cash equivalents and restricted cash $ 369,673 $ 92,392
Schedule of reconciliation of cash, cash equivalents and restricted cash	The following table reconciles cash, cash equivalents and restricted cash from the condensed consolidated balance sheets to amounts reported within the condensed consolidated statements of cash flows: June 30, June 30, 2021 2020 (in thousands) Cash and cash equivalents $ 369,524 $ 92,244 Restricted cash included in prepaid expenses and other current assets 149 — Restricted cash included in other non-current assets — 148 Total cash, cash equivalents and restricted cash $ 369,673 $ 92,392

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of recognized identified assets acquired and liabilities assumed	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition: Preliminary Estimate (in thousands) Total tangible assets acquired, net of cash $ 2,032 Total liabilities assumed (596) Identifiable intangible assets 9,500 Goodwill 21,858 Total net assets acquired $ 32,794 A summary of estimated intangible assets acquired, estimated useful lives and amortization method is as follows: Preliminary Estimate Estimated Useful Life in Years Amortization Method Proprietary technology $ 6,900 6 Straight-line Customer list $ 2,600 14 Accelerated Total intangible assets acquired $ 9,500

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of prepaid expenses and other current assets	Prepaid expenses and other current assets consisted of the following: June 30, December 31, 2021 2020 (in thousands) Prepaid technology $ 17,032 $ 13,165 Non-income tax receivables 8,447 6,571 Income tax prepayments and receivables 2,928 1,684 Prepaid insurance 2,788 1,777 Advance payroll taxes and benefits 1,046 6,429 Other 8,378 10,944 Total prepaid expenses and other current assets $ 40,619 $ 40,570

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of components of property and equipment, net	Property and equipment, net consisted of the following: June 30, December 31, Estimated Useful Life 2021 2020 (in thousands) Cost: Computer equipment and software 3 years $ 71,506 $ 72,443 Leasehold improvements Shorter of the lease term or useful life of the asset 43,731 37,671 Office furniture and fixtures 3-7 years 12,148 11,249 Office equipment and other 3-5 years 5,709 7,151 Building and building improvements 7-39 years 2,669 2,669 Land Not applicable 940 940 136,703 132,123 Less: accumulated depreciation and amortization (86,695) (84,154) Total property and equipment, net $ 50,008 $ 47,969 Depreciation and amortization expense was as follows: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Depreciation and amortization expense $ 5,246 $ 5,363 $ 10,889 $ 10,680

Internally Developed Software (

Internally Developed Software (Tables)	6 Months Ended
	Jun. 30, 2021
Research and Development [Abstract]
Schedule of components of internally developed software, net	Internally developed software, net consisted of the following: June 30, December 31, Estimated Useful Life 2021 2020 (in thousands) Internally developed software 5 years $ 191,421 $ 159,619 Less: accumulated amortization (76,651) (63,118) Internally developed software, net $ 114,770 $ 96,501
Schedule of amortization expense	Amortization expense was as follows: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Amortization expense $ 7,262 $ 4,334 $ 13,533 $ 7,942

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill by segment	Changes in the carrying amount of goodwill were as follows: Envestnet Wealth Solutions Envestnet Data & Analytics Total (in thousands) Balance at December 31, 2020 $ 603,350 $ 303,423 $ 906,773 Harvest Acquisition 21,858 — 21,858 Foreign exchange rates — (138) (138) Balance at June 30, 2021 $ 625,208 $ 303,285 $ 928,493
Schedule of components of intangible assets, net	Intangible assets, net consisted of the following: June 30, 2021 December 31, 2020 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Amortization Amount Amount Amortization Amount (in thousands) Customer lists $ 593,820 $ (221,893) $ 371,927 $ 591,520 $ (198,555) $ 392,965 Proprietary technologies 85,324 (33,876) 51,448 54,914 (26,949) 27,965 Trade names 33,700 (22,052) 11,648 33,700 (19,589) 14,111 Total intangible assets $ 712,844 $ (277,821) $ 435,023 $ 680,134 $ (245,093) $ 435,041
Schedule of amortization expense	Amortization expense was as follows: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Amortization expense $ 17,502 $ 18,746 $ 33,980 $ 37,504

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Schedule accrued expenses and other liabilities	Accrued expenses and other liabilities consisted of the following: June 30, December 31, 2021 2020 (in thousands) Accrued investment manager fees $ 79,007 $ 57,894 Accrued compensation and related taxes 63,938 71,039 Accrued professional services 8,039 9,240 Non-income tax payables 7,632 8,398 Accrued technology 5,435 4,701 Accrued purchase consideration 3,947 — Other accrued expenses 6,959 7,276 Total accrued expenses and other liabilities $ 174,957 $ 158,548

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of convertible debt obligations	The Company’s outstanding debt obligations as of June 30, 2021 and December 31, 2020 were as follows: June 30, December 31, 2021 2020 (in thousands) Revolving credit facility balance $ — $ — Convertible Notes due 2023 $ 345,000 $ 345,000 Unamortized issuance costs on Convertible Notes due 2023 (3,999) (4,306) Unaccreted discount on Convertible Notes due 2023 — (24,058) Convertible Notes due 2023 carrying value $ 341,001 $ 316,636 Convertible Notes due 2025 $ 517,500 $ 517,500 Unamortized issuance costs on Convertible Notes due 2025 (12,090) (11,731) Unaccreted discount on Convertible Notes due 2025 — (65,902) Convertible Notes due 2025 carrying value $ 505,410 $ 439,867
Schedule of interest expense	Interest expense was comprised of the following and is included in other expense, net in the condensed consolidated statements of operations: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Coupon interest $ 2,480 $ 1,510 $ 4,960 $ 3,011 Amortization of issuance costs 1,429 633 2,852 1,264 Undrawn and other fees 316 133 628 286 Interest on revolving credit facility — 2,009 — 4,527 Accretion of debt discount — 2,349 — 4,680 Total interest expense $ 4,225 $ 6,634 $ 8,440 $ 13,768

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule fair value of the Company’s financial assets and liabilities measured at fair value	The following tables set forth the fair value of the Company’s financial assets and liabilities measured at fair value on a recurring basis in the condensed consolidated balance sheets as of June 30, 2021 and December 31, 2020, based on the three-tier fair value hierarchy, as defined in ASC 820, “Fair Value Measurements and Disclosures”: June 30, 2021 Fair Value Level I Level II Level III (in thousands) Assets: Money market funds $ 2,340 $ 2,340 $ — $ — Investment in private company 1,508 — 1,508 — Assets to fund deferred compensation liability 10,806 — — 10,806 Total assets $ 14,654 $ 2,340 $ 1,508 $ 10,806 Liabilities: Contingent consideration $ 1,312 $ — $ — $ 1,312 Deferred compensation liability 9,414 9,414 — — Total liabilities $ 10,726 $ 9,414 $ — $ 1,312 December 31, 2020 Fair Value Level I Level II Level III (in thousands) Assets: Money market funds $ 84,110 $ 84,110 $ — $ — Assets to fund deferred compensation liability 9,961 — — 9,961 Total assets $ 94,071 $ 84,110 $ — $ 9,961 Liabilities: Contingent consideration $ 12,559 $ — $ — $ 12,559 Deferred compensation liability 8,720 8,720 — — Total liabilities $ 21,279 $ 8,720 $ — $ 12,559
Summary of changes in the fair value of the Company's Level 3 liability	The table below presents a reconciliation of the Company's contingent consideration liabilities, which were measured at fair value on a recurring basis using significant unobservable inputs (Level III) for the period from December 31, 2020 to June 30, 2021: Fair Value of Contingent Consideration Liabilities (in thousands) Balance at December 31, 2020 $ 12,559 Fair market value adjustment on contingent consideration liability (140) Accretion on contingent consideration 453 Payments of contingent consideration (11,560) Balance at June 30, 2021 $ 1,312
Summary of changes in the fair value of the Company's Level 3 assets	The table below presents a reconciliation of the assets used to fund deferred the Company's deferred compensation liability, which is measured at fair value on a recurring basis using significant unobservable inputs (Level III) for the period from December 31, 2020 to June 30, 2021: Fair Value of Assets to Fund Deferred Compensation Liability (in thousands) Balance at December 31, 2020 $ 9,961 Contributions 215 Fair value adjustments 630 Balance at June 30, 2021 $ 10,806

Revenue and Cost of Revenues (T

Revenue and Cost of Revenues (Tables)	6 Months Ended
	Jun. 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 June 30, 2021 2020 Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated (in thousands) Revenues: Asset-based $ 170,075 $ — $ 170,075 $ 122,246 $ — $ 122,246 Subscription-based 66,663 45,841 112,504 61,410 43,569 104,979 Total recurring revenues 236,738 45,841 282,579 183,656 43,569 227,225 Professional services and other revenues 3,559 2,600 6,159 4,029 4,059 8,088 Total revenues $ 240,297 $ 48,441 $ 288,738 $ 187,685 $ 47,628 $ 235,313 Six Months Ended June 30, 2021 2020 Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated (in thousands) Revenues: Asset-based $ 329,450 $ — $ 329,450 $ 257,057 $ — $ 257,057 Subscription-based 130,675 91,658 222,333 121,733 87,797 209,530 Total recurring revenues 460,125 91,658 551,783 378,790 87,797 466,587 Professional services and other revenues 6,582 5,478 12,060 7,315 7,950 15,265 Total revenues $ 466,707 $ 97,136 $ 563,843 $ 386,105 $ 95,747 $ 481,852
Summary of revenues from major customers	One customer accounted for more than 10% of the Company’s total revenues: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Fidelity 17 % 15 % 16 % 15 % One customer accounted for more than 10% of the Envestnet Wealth Solutions segment’s revenues: Three Months Ended Six Months Ended June 30, June 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 Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) United States $ 283,589 $ 230,102 $ 553,661 $ 470,554 International 5,149 5,211 10,182 11,298 Total revenues $ 288,738 $ 235,313 $ 563,843 $ 481,852
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 June 30, 2021: Years ending December 31, (in thousands) Remainder of 2021 $ 136,052 2022 204,602 2023 124,747 2024 65,749 2025 34,779 Thereafter 14,374 Total $ 580,303
Schedule of costs of revenues by revenue category	The following table summarizes cost of revenues by revenue category: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Asset-based $ 93,341 $ 61,875 $ 179,531 $ 130,467 Subscription-based 7,027 6,807 13,631 13,084 Professional services and other 126 167 201 231 Total cost of revenues $ 100,494 $ 68,849 $ 193,363 $ 143,782

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of stock-based compensation expense	Stock-based compensation expense under the Company’s plans was as follows: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Stock-based compensation expense $ 17,409 $ 13,006 $ 31,422 $ 26,771 Tax effect on stock-based compensation expense (4,439) (3,317) (8,013) (6,826) Net effect on income $ 12,970 $ 9,689 $ 23,409 $ 19,945
Summary of option activity under the company's plans	The following table summarizes option activity under the Company’s plans: Weighted-Average Weighted- Remaining Average Contractual Life Aggregate Options Exercise Price (Years) Intrinsic Value (in thousands) Outstanding as of December 31, 2020 438,040 $ 36.28 4.1 $ 20,156 Exercised (31,125) 18.42 Forfeited (1,277) 49.02 Outstanding as of June 30, 2021 405,638 37.61 3.8 15,517 Options exercisable 366,736 $ 36.40 3.4 $ 14,471
Summary of the activity for unvested restricted stock units and awards granted under the Company's plans	The following is a summary of the activity for unvested restricted stock units and performance stock units granted under the Company’s plans: RSUs PSUs Number of Weighted- Number of Weighted- Outstanding as of December 31, 2020 1,345,347 $ 70.56 302,797 $ 72.50 Granted 1,134,299 70.40 110,301 70.29 Vested (568,131) 69.79 (27,300) 61.54 Forfeited (130,556) 70.49 (5,701) 80.87 Outstanding as of June 30, 2021 1,780,959 70.71 380,097 72.52

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Summary of income (loss) before income tax provision (benefit)	The following table includes the Company’s income (loss) before income tax provision (benefit), income tax provision (benefit) and effective tax rate: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Income (loss) before income tax provision (benefit) $ 7,147 $ (4,165) $ 16,494 $ (13,319) Income tax provision (benefit) 15,516 1,306 9,928 (658) Effective tax rate 217.1 % (31.4) % 60.2 % 4.9 %

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of reconciliation of the numerators and denominators used in computing basic and diluted net income (loss) per share attributable to common stockholders	The following table provides the numerators and denominators used in computing basic and diluted net income (loss) per share attributable to Envestnet, Inc.: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands, except share and per share data) Net income (loss) attributable to Envestnet, Inc. ( a ) $ (8,281) $ (4,924) $ 6,665 $ (12,260) Weighted-average common shares outstanding: Basic ( b ) 54,440,388 53,562,850 54,325,353 53,288,741 Effect of dilutive shares: Options to purchase common stock — — 210,381 — Unvested restricted stock units — — 536,186 — Warrants — — 65,026 — Diluted ( c ) 54,440,388 53,562,850 55,136,946 53,288,741 Net income (loss) per share attributable to Envestnet, Inc common stock: Basic ( a/b ) $ (0.15) $ (0.09) $ 0.12 $ (0.23) Diluted (a /c ) $ (0.15) $ (0.09) $ 0.12 $ (0.23)
Schedule of anti-dilutive securities excluded from computation of diluted earnings per share	Securities that were anti-dilutive and therefore excluded from the computation of diluted net income (loss) per share were as follows: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Options to purchase common stock 405,638 600,924 — 600,924 Unvested RSUs and PSUs 2,161,056 1,922,978 39,652 1,922,978 Warrants 470,000 470,000 — 470,000 Convertible Notes 9,898,549 5,050,505 9,898,549 5,050,505 Total anti-dilutive securities 12,935,243 8,044,407 9,938,201 8,044,407

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of income (loss) from operations by segment	The following table presents a reconciliation from income (loss) from operations by segment to consolidated net income (loss) attributable to Envestnet, Inc.: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (in thousands) Envestnet Wealth Solutions $ 32,459 $ 19,867 $ 66,656 $ 31,207 Envestnet Data & Analytics 1,342 (941) 2,631 (5,526) Nonsegment operating expenses (22,870) (14,918) (41,541) (29,290) Income (loss) from operations 10,931 4,008 27,746 (3,609) Other expense, net (3,784) (8,173) (11,252) (9,710) Consolidated income (loss) before income tax benefit 7,147 (4,165) 16,494 (13,319) Income tax provision (benefit) 15,516 1,306 9,928 (658) Consolidated net income (loss) (8,369) (5,471) 6,566 (12,661) Add: Net loss attributable to non-controlling interest 88 547 99 401 Consolidated net income (loss) attributable to Envestnet, Inc. $ (8,281) $ (4,924) $ 6,665 $ (12,260)
Summary of consolidated total assets	A summary of consolidated total assets follows: June 30, December 31, 2021 2020 (in thousands) Envestnet Wealth Solutions $ 1,661,332 $ 1,634,153 Envestnet Data & Analytics 509,364 510,137 Consolidated total assets $ 2,170,696 $ 2,144,290

Geographical Information (Table

Geographical Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segments, Geographical Areas [Abstract]
Schedule of property, plant, and equipment, net by geographic area	The following table sets forth certain long-lived assets including property and equipment, net and internally developed software, net by geographic area: June 30, December 31, 2021 2020 (in thousands) United States $ 161,686 $ 140,651 India 2,642 2,970 Other 450 849 Total long-lived assets, net $ 164,778 $ 144,470

Organization and Description _2

Organization and Description of Business (Details)	6 Months Ended
	Jun. 30, 2021segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2

Basis of Presentation - Schedul

Basis of Presentation - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 369,524	$ 384,565	$ 92,244
Restricted cash included in prepaid expenses and other current assets	149		0
Restricted cash included in other non-current assets	0		148
Total cash, cash equivalents and restricted cash	$ 369,673	$ 384,714	$ 92,392	$ 82,755

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Accumulated deficit	$ (44,619)		$ (44,619)		$ (79,912)
Income tax expense	15,516	$ 1,306	9,928	$ (658)
Additional paid-in capital	$ (1,089,263)		(1,089,263)		(1,166,774)
Expected decrease in interest expense in 2021			$ 22,100
Cumulative Effect, Period of Adoption, Adjustment
Disaggregation of Revenue [Line Items]
Accumulated deficit					28,600
Income tax expense					7,641
Additional paid-in capital					108,500
Convertible notes payable					87,500
Cumulative Effect, Period of Adoption, Adjustment | Accumulated Deficit
Disaggregation of Revenue [Line Items]
Income tax expense					900
Cumulative Effect, Period of Adoption, Adjustment | Additional Paid-in Capital
Disaggregation of Revenue [Line Items]
Income tax expense					6,700
Private Services Company
Disaggregation of Revenue [Line Items]
Ownership percentage	4.30%		4.30%
Revenues	$ 3,900	$ 2,400	$ 7,700	$ 5,100
Due from related parties	$ 2,400		$ 2,400		$ 2,100

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($)	Jun. 21, 2021	Apr. 07, 2021	Mar. 11, 2021	Jun. 30, 2021	Mar. 10, 2021
Harvest Savings & Wealth Technologies
Business Acquisition [Line Items]
Total intangible assets acquired		$ 9,500,000
Cash consideration		32,800,000
Escrow deposit		$ 3,300,000
Escrow holding period		18 months
Goodwill, expected tax deductible amount				$ 0
Proprietary technology | Harvest Savings & Wealth Technologies
Business Acquisition [Line Items]
Total intangible assets acquired		$ 6,900,000
Estimated Useful Life in Years		6 years
Privately Held Company
Business Acquisition [Line Items]
Ownership percentage					29.00%
Consideration transferred			$ 35,500,000
Redemption consideration			10,000,000
Privately Held Company | Proprietary technology
Business Acquisition [Line Items]
Consideration transferred	$ 18,000,000
Total intangible assets acquired			$ 24,500,000
Estimated Useful Life in Years			5 years

Acquisitions - Estimated Fair V

Acquisitions - Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Apr. 07, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 928,493		$ 906,773
Harvest Savings & Wealth Technologies
Business Acquisition [Line Items]
Total tangible assets acquired, net of cash		$ 2,032
Total liabilities assumed		(596)
Identifiable intangible assets		9,500
Goodwill		21,858
Total net assets acquired		$ 32,794

Acquisitions - Estimated Intang

Acquisitions - Estimated Intangible Assets Acquired (Details) - Harvest Savings & Wealth Technologies $ in Thousands	Apr. 07, 2021USD ($)
Business Acquisition [Line Items]
Preliminary Estimate (in thousands)	$ 9,500
Proprietary technology
Business Acquisition [Line Items]
Preliminary Estimate (in thousands)	$ 6,900
Estimated Useful Life in Years	6 years
Customer list
Business Acquisition [Line Items]
Preliminary Estimate (in thousands)	$ 2,600
Estimated Useful Life in Years	14 years

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid technology	$ 17,032	$ 13,165
Non-income tax receivables	8,447	6,571
Income tax prepayments and receivables	2,928	1,684
Prepaid insurance	2,788	1,777
Advance payroll taxes and benefits	1,046	6,429
Other	8,378	10,944
Prepaid expenses and other current assets	$ 40,619	$ 40,570

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Cost:
Property and equipment, gross	$ 136,703		$ 136,703		$ 132,123
Less: accumulated depreciation and amortization	(86,695)		(86,695)		(84,154)
Total property and equipment, net	50,008		50,008		47,969
Depreciation and amortization expense	5,246	$ 5,363	$ 10,889	$ 10,680
Computer equipment and software
Property, Plant and Equipment [Line Items]
Estimated Useful Life			3 years
Cost:
Property and equipment, gross	71,506		$ 71,506		72,443
Leasehold improvements
Cost:
Property and equipment, gross	43,731		43,731		37,671
Office furniture and fixtures
Cost:
Property and equipment, gross	12,148		$ 12,148		11,249
Office furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life			3 years
Office furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life			7 years
Office equipment and other
Cost:
Property and equipment, gross	5,709		$ 5,709		7,151
Office equipment and other | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life			3 years
Office equipment and other | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life			5 years
Building and building improvements
Cost:
Property and equipment, gross	2,669		$ 2,669		2,669
Building and building improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life			7 years
Building and building improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life			39 years
Land
Cost:
Property and equipment, gross	$ 940		$ 940		$ 940

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Envestnet Wealth Solutions
Property, Plant and Equipment [Line Items]
Cost written off	$ 5.1	$ 2.9	$ 7.8	$ 4.5
Envestnet Data & Analytics
Property, Plant and Equipment [Line Items]
Cost written off	$ 0	$ 0	$ 0	$ 0

Internally Developed Software -

Internally Developed Software - Components of Internally Developed Software (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Internally developed software	$ 191,421	$ 159,619
Less: accumulated amortization	(76,651)	(63,118)
Internally developed software, net	$ 114,770	$ 96,501
Internally developed software
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years

Internally Developed Software_2

Internally Developed Software - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Research and Development [Abstract]
Amortization expense	$ 7,262	$ 4,334	$ 13,533	$ 7,942

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Changes in the carrying amount of the Company's goodwill
Balance at period start	$ 906,773
Harvest Acquisition	21,858
Foreign exchange rates	(138)
Balance at period end	928,493
Envestnet Wealth Solutions
Changes in the carrying amount of the Company's goodwill
Balance at period start	603,350
Harvest Acquisition	21,858
Foreign exchange rates	0
Balance at period end	625,208
Envestnet Data & Analytics
Changes in the carrying amount of the Company's goodwill
Balance at period start	303,423
Harvest Acquisition	0
Foreign exchange rates	(138)
Balance at period end	$ 303,285

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 712,844	$ 680,134
Accumulated Amortization	(277,821)	(245,093)
Net Carrying Amount	435,023	435,041
Customer lists
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	593,820	591,520
Accumulated Amortization	(221,893)	(198,555)
Net Carrying Amount	371,927	392,965
Proprietary technologies
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	85,324	54,914
Accumulated Amortization	(33,876)	(26,949)
Net Carrying Amount	51,448	27,965
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	33,700	33,700
Accumulated Amortization	(22,052)	(19,589)
Net Carrying Amount	$ 11,648	$ 14,111

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 17,502	$ 18,746	$ 33,980	$ 37,504

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued investment manager fees	$ 79,007	$ 57,894
Accrued compensation and related taxes	63,938	71,039
Accrued professional services	8,039	9,240
Non-income tax payables	7,632	8,398
Accrued technology	5,435	4,701
Accrued purchase consideration	3,947	0
Other accrued expenses	6,959	7,276
Total accrued expenses and other liabilities	$ 174,957	$ 158,548

Accrued Expenses and Other Li_4

Accrued Expenses and Other Liabilities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Severance costs	$ 1.4	$ 5.2
Accrued compensation	$ 2.7	$ 2.7	$ 5.1

Debt - Summary (Details)

Debt - Summary (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Revolving credit facility balance	$ 0	$ 0
Convertible Notes due 2023
Debt Instrument [Line Items]
Face amount	345,000,000	345,000,000
Unamortized issuance costs on convertible notes	(3,999,000)	(4,306,000)
Unaccreted discount on convertible notes	0	(24,058,000)
Convertible notes carrying value	341,001,000	316,636,000
Convertible Notes due 2025
Debt Instrument [Line Items]
Face amount	517,500,000	517,500,000
Unamortized issuance costs on convertible notes	(12,090,000)	(11,731,000)
Unaccreted discount on convertible notes	0	(65,902,000)
Convertible notes carrying value	$ 505,410,000	$ 439,867,000

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2018
Debt Instrument [Line Items]
Interest expense debt	$ 4,225,000	$ 6,634,000	$ 8,440,000	$ 13,768,000
Interest expense debt excluding amortization	2,480,000	$ 1,510,000	4,960,000	$ 3,011,000
Convertible Notes due 2023
Debt Instrument [Line Items]
Face amount	345,000,000		345,000,000		$ 345,000,000
Unamortized issuance costs on convertible notes	$ 3,999,000		$ 3,999,000		4,306,000
Issuance costs						$ 10,000,000
Debt issuance cost						8,600,000
Convertible debt, carrying amount of equity component, offering costs						$ 1,400,000
Effective interest rate	2.40%	6.00%	2.40%	6.00%
Convertible Notes due 2025
Debt Instrument [Line Items]
Face amount	$ 517,500,000		$ 517,500,000		517,500,000
Unamortized issuance costs on convertible notes	$ 12,090,000		$ 12,090,000		11,731,000
Issuance costs					14,500,000
Debt issuance cost					12,600,000
Convertible debt, carrying amount of equity component, offering costs					$ 1,900,000
Effective interest rate	1.30%		1.30%
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity	$ 500,000,000		$ 500,000,000
Convertible Notes Payable
Debt Instrument [Line Items]
Interest expense debt	3,700,000	$ 4,300,000	7,400,000	$ 8,500,000
Interest expense debt excluding amortization	2,500,000	1,500,000	5,000,000	3,000,000
Amortization of debt discount and issuance costs	$ 1,200,000	$ 2,800,000	$ 2,400,000	$ 5,500,000

Debt - Interest (Details)

Debt - Interest (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Debt Disclosure [Abstract]
Coupon interest	$ 2,480	$ 1,510	$ 4,960	$ 3,011
Amortization of issuance costs	1,429	633	2,852	1,264
Undrawn and other fees	316	133	628	286
Interest on revolving credit facility	0	2,009	0	4,527
Accretion of debt discount	0	2,349	0	4,680
Total interest expense	$ 4,225	$ 6,634	$ 8,440	$ 13,768

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - Recurring Basis - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Level I
Assets:
Investment in private company	$ 0
Assets to fund deferred compensation liability	0	$ 0
Total assets	2,340	84,110
Liabilities:
Contingent consideration	0	0
Deferred compensation liability	9,414	8,720
Total liabilities	9,414	8,720
Level I | Money Market Funds
Assets:
Money market funds	2,340	84,110
Level II
Assets:
Investment in private company	1,508
Assets to fund deferred compensation liability	0	0
Total assets	1,508	0
Liabilities:
Contingent consideration	0	0
Deferred compensation liability	0	0
Total liabilities	0	0
Level II | Money Market Funds
Assets:
Money market funds	0	0
Level III
Assets:
Investment in private company	0
Assets to fund deferred compensation liability	10,806	9,961
Total assets	10,806	9,961
Liabilities:
Contingent consideration	1,312	12,559
Deferred compensation liability	0	0
Total liabilities	1,312	12,559
Level III | Money Market Funds
Assets:
Money market funds	0	0
Fair Value
Assets:
Investment in private company	1,508
Assets to fund deferred compensation liability	10,806	9,961
Total assets	14,654	94,071
Liabilities:
Contingent consideration	1,312	12,559
Deferred compensation liability	9,414	8,720
Total liabilities	10,726	21,279
Fair Value | Money Market Funds
Assets:
Money market funds	$ 2,340	$ 84,110

Fair Value Measurements - Level

Fair Value Measurements - Level III (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Fair Value of Contingent Consideration Liabilities
Beginning Balance	$ 12,559
Fair market value adjustment on contingent consideration liability	(140)
Accretion on contingent consideration	453
Payments of contingent consideration	(11,560)
Ending Balance	1,312
Fair Value of Assets to Fund Deferred Compensation Liability
Beginning balance	9,961
Contributions	215
Fair value adjustments	630
Ending balance	$ 10,806

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Equity Method Investments
Fair Value Measurements
Investment in private company	$ 1.5	$ 1.5
Level II | Equity Method Investments
Fair Value Measurements
Price adjustment	0.8	0.8
Convertible Notes due 2023
Fair Value Measurements
Debt instrument, fair value disclosure	427.8	427.8	$ 460.8
Convertible Notes due 2023 | Carrying Value
Fair Value Measurements
Convertible notes	341	341	316.6
Convertible Notes due 2025
Fair Value Measurements
Debt instrument, fair value disclosure	514.6	514.6	540.8
Convertible Notes due 2025 | Carrying Value
Fair Value Measurements
Convertible notes	$ 505.4	$ 505.4	$ 439.9

Revenue and Cost of Revenues -

Revenue and Cost of Revenues - Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Total revenues	$ 288,738	$ 235,313	$ 563,843	$ 481,852
United States
Revenues:
Total revenues	283,589	230,102	553,661	470,554
International
Revenues:
Total revenues	5,149	5,211	10,182	11,298
Asset-based
Revenues:
Total revenues	170,075	122,246	329,450	257,057
Subscription-based
Revenues:
Total revenues	112,504	104,979	222,333	209,530
Total recurring revenues
Revenues:
Total revenues	282,579	227,225	551,783	466,587
Professional services and other revenues
Revenues:
Total revenues	6,159	8,088	12,060	15,265
Envestnet Wealth Solutions
Revenues:
Total revenues	240,297	187,685	466,707	386,105
Envestnet Wealth Solutions | Asset-based
Revenues:
Total revenues	170,075	122,246	329,450	257,057
Envestnet Wealth Solutions | Subscription-based
Revenues:
Total revenues	66,663	61,410	130,675	121,733
Envestnet Wealth Solutions | Total recurring revenues
Revenues:
Total revenues	236,738	183,656	460,125	378,790
Envestnet Wealth Solutions | Professional services and other revenues
Revenues:
Total revenues	3,559	4,029	6,582	7,315
Envestnet Data & Analytics
Revenues:
Total revenues	48,441	47,628	97,136	95,747
Envestnet Data & Analytics | Asset-based
Revenues:
Total revenues	0	0	0	0
Envestnet Data & Analytics | Subscription-based
Revenues:
Total revenues	45,841	43,569	91,658	87,797
Envestnet Data & Analytics | Total recurring revenues
Revenues:
Total revenues	45,841	43,569	91,658	87,797
Envestnet Data & Analytics | Professional services and other revenues
Revenues:
Total revenues	$ 2,600	$ 4,059	$ 5,478	$ 7,950

Revenue and Cost of Revenues _2

Revenue and Cost of Revenues - Major Customers (Details) - Revenue from contract with customer benchmark - Customer concentration risk - Fidelity	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Concentration Risk [Line Items]
Revenue as a percentage of the company's total	17.00%	15.00%	16.00%	15.00%
Envestnet Wealth Solutions
Concentration Risk [Line Items]
Revenue as a percentage of the company's total	21.00%	18.00%	20.00%	18.00%

Revenue and Cost of Revenues _3

Revenue and Cost of Revenues - Obligation (Details) $ in Thousands	Jun. 30, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 580,303
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 136,052
Remaining Performance Obligations
Revenue recognition period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 204,602
Remaining Performance Obligations
Revenue recognition period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 124,747
Remaining Performance Obligations
Revenue recognition period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 65,749
Remaining Performance Obligations
Revenue recognition period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 34,779
Remaining Performance Obligations
Revenue recognition period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 14,374
Remaining Performance Obligations
Revenue recognition period

Revenue and Cost of Revenues _4

Revenue and Cost of Revenues - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Increase in contract with customer liability				$ 2.9
Recognized deferred revenue	$ 9.5	$ 10.4		26.3	$ 25.8
Deferred sales incentive compensation	11.1			11.1		$ 10.8
Amortization expense for the deferred sales incentive compensation	1.1	$ 1		2.1	2.1
Impairment loss for capitalized costs	$ 0		$ 0	$ 0	$ 0

Revenue and Cost of Revenues _5

Revenue and Cost of Revenues - Cost of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Product Information [Line Items]
Cost of revenues	$ 100,494	$ 68,849	$ 193,363	$ 143,782
Asset-based
Product Information [Line Items]
Cost of revenues	93,341	61,875	179,531	130,467
Subscription-based
Product Information [Line Items]
Cost of revenues	7,027	6,807	13,631	13,084
Professional services and other
Product Information [Line Items]
Cost of revenues	$ 126	$ 167	$ 201	$ 231

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Stock-Based compensation
Maximum number of shares available for future issuance (in shares)	3,718,681		3,718,681
Statutory rate (as a percent)	25.50%	25.50%	25.50%	25.50%
2010 Plan
Stock-Based compensation
Shares authorized for issuance (in shares)	12,375,000		12,375,000		8,925,000

Stock-Based Compensation - Expe

Stock-Based Compensation - Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 17,409	$ 13,006	$ 31,422	$ 26,771
Tax effect on stock-based compensation expense	(4,439)	(3,317)	(8,013)	(6,826)
Net effect on income	$ 12,970	$ 9,689	$ 23,409	$ 19,945

Stock-Based Compensation - Opti

Stock-Based Compensation - Options (Details) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares
Options
Outstanding at the beginning of the period (in shares) | shares	438,040
Exercised (in shares) | shares	(31,125)
Forfeited (in shares) | shares	(1,277)
Outstanding at the end of the period (in shares) | shares	405,638	438,040
Options exercisable (in shares) | shares	366,736
Weighted-Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 36.28
Exercised (in dollars per share)	18.42
Forfeited (in dollars per share)	49.02
Outstanding at the end of the period (in dollars per share)	37.61	$ 36.28
Options exercisable (in dollars per share)	$ 36.40
Weighted-Average Remaining Contractual Life
Outstanding	3 years 9 months 18 days	4 years 1 month 6 days
Options exercisable	3 years 4 months 24 days
Aggregate Intrinsic Value
Outstanding (in dollars) | $	$ 15,517	$ 20,156
Options exercisable (in dollars) | $	$ 14,471
Options to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Unrecognized compensation expense weighted-average recognition period	7 months 6 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Exercise prices of stock options outstanding (in dollars per share)	$ 10.40
Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Exercise prices of stock options outstanding (in dollars per share)	$ 55.29

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Units (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares
RSUs
Number of Shares
Balance at the beginning of the period (in shares) | shares	1,345,347
Granted (in shares) | shares	1,134,299
Vested (in shares) | shares	(568,131)
Forfeited (in shares) | shares	(130,556)
Balance at the end of the period (in shares) | shares	1,780,959
Weighted- Average Grant Date Fair Value per Share
Balance at the beginning of the period (in dollars per share) | $ / shares	$ 70.56
Granted (in dollars per share) | $ / shares	70.40
Vested (in dollars per share) | $ / shares	69.79
Forfeited (in dollars per share) | $ / shares	70.49
Balance at the end of the period (in dollars per share) | $ / shares	$ 70.71
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Unrecognized compensation expense related to shares | $	$ 114.5
Unrecognized compensation expense weighted-average recognition period	2 years 2 months 12 days
PSUs
Stock-Based compensation
Vesting period	3 years
Number of Shares
Balance at the beginning of the period (in shares) | shares	302,797
Granted (in shares) | shares	110,301
Vested (in shares) | shares	(27,300)
Forfeited (in shares) | shares	(5,701)
Balance at the end of the period (in shares) | shares	380,097
Weighted- Average Grant Date Fair Value per Share
Balance at the beginning of the period (in dollars per share) | $ / shares	$ 72.50
Granted (in dollars per share) | $ / shares	70.29
Vested (in dollars per share) | $ / shares	61.54
Forfeited (in dollars per share) | $ / shares	80.87
Balance at the end of the period (in dollars per share) | $ / shares	$ 72.52
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Unrecognized compensation expense related to shares | $	$ 10.5
Unrecognized compensation expense weighted-average recognition period	2 years 1 month 6 days
PSUs | Minimum
Stock-Based compensation
Number of shares to be vest upon each evaluation date, percentage	50.00%
PSUs | Maximum
Stock-Based compensation
Number of shares to be vest upon each evaluation date, percentage	150.00%

Income Taxes - Income (Loss) Be

Income Taxes - Income (Loss) Before Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income (loss) before income tax provision (benefit)	$ 7,147	$ (4,165)	$ 16,494	$ (13,319)
Income tax provision (benefit)	$ 15,516	$ 1,306	$ 9,928	$ (658)
Effective tax rate	217.10%	(31.40%)	60.20%	4.90%

Net Income (Loss) Per Share - C

Net Income (Loss) Per Share - Computation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Basic net income (loss) per share calculation:
Net income (loss) attributable to Envestnet, Inc.	$ (8,281)	$ (4,924)	$ 6,665	$ (12,260)
Weighted-average common shares outstanding:
Basic (in shares)	54,440,388	53,562,850	54,325,353	53,288,741
Effect of dilutive shares:
Options to purchase common stock (in shares)	0	0	210,381	0
Unvested restricted stock units (in shares)	0	0	536,186	0
Warrants (in shares)	0	0	65,026	0
Diluted (in shares)	54,440,388	53,562,850	55,136,946	53,288,741
Net income (loss) per share attributable to Envestnet, Inc common stock:
Basic (in dollars per share)	$ (0.15)	$ (0.09)	$ 0.12	$ (0.23)
Diluted (in dollars per share)	$ (0.15)	$ (0.09)	$ 0.12	$ (0.23)

Net Income (Loss) Per Share - A

Net Income (Loss) Per Share - Antidilutive Securities (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Common share equivalents for securities that were anti-dilutive and therefore excluded from the computation of diluted earnings per share
Anti-dilutive securities excluded from computation of diluted loss per share (in shares)	12,935,243	8,044,407	9,938,201	8,044,407
Options to purchase common stock
Common share equivalents for securities that were anti-dilutive and therefore excluded from the computation of diluted earnings per share
Anti-dilutive securities excluded from computation of diluted loss per share (in shares)	405,638	600,924	0	600,924
Unvested RSUs and PSUs
Common share equivalents for securities that were anti-dilutive and therefore excluded from the computation of diluted earnings per share
Anti-dilutive securities excluded from computation of diluted loss per share (in shares)	2,161,056	1,922,978	39,652	1,922,978
Warrants
Common share equivalents for securities that were anti-dilutive and therefore excluded from the computation of diluted earnings per share
Anti-dilutive securities excluded from computation of diluted loss per share (in shares)	470,000	470,000	0	470,000
Convertible Notes
Common share equivalents for securities that were anti-dilutive and therefore excluded from the computation of diluted earnings per share
Anti-dilutive securities excluded from computation of diluted loss per share (in shares)	9,898,549	5,050,505	9,898,549	5,050,505

Segment Information - Reconcili

Segment Information - Reconciliation of Income (Loss) From Operations (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Loss from continuing operations	$ 10,931		$ 4,008		$ 27,746	$ (3,609)
Nonsegment operating expenses	(277,807)		(231,305)		(536,097)	(485,461)
Other expense, net	(3,784)		(8,173)		(11,252)	(9,710)
Income (loss) before income tax provision (benefit)	7,147		(4,165)		16,494	(13,319)
Income tax provision (benefit)	15,516		1,306		9,928	(658)
Net income (loss)	(8,369)	$ 14,935	(5,471)	$ (7,190)	6,566	(12,661)
Add: Net loss attributable to non-controlling interest	88		547		99	401
Net income (loss) attributable to Envestnet, Inc.	(8,281)		(4,924)		6,665	(12,260)
Operating Segments | Envestnet Wealth Solutions
Segment Reporting Information [Line Items]
Loss from continuing operations	32,459		19,867		66,656	31,207
Operating Segments | Envestnet Data & Analytics
Segment Reporting Information [Line Items]
Loss from continuing operations	1,342		(941)		2,631	(5,526)
Nonsegment
Segment Reporting Information [Line Items]
Nonsegment operating expenses	$ (22,870)		$ (14,918)		$ (41,541)	$ (29,290)

Segment Information - Summary o

Segment Information - Summary of Consolidated Total Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Assets	$ 2,170,696	$ 2,144,290
Envestnet Wealth Solutions
Segment Reporting Information [Line Items]
Assets	1,661,332	1,634,153
Envestnet Data & Analytics
Segment Reporting Information [Line Items]
Assets	$ 509,364	$ 510,137

Geographical Information (Detai

Geographical Information (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets, net	$ 164,778	$ 144,470
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets, net	161,686	140,651
India
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets, net	2,642	2,970
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets, net	$ 450	$ 849

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Jun. 21, 2021USD ($)	Mar. 11, 2021USD ($)	Jun. 30, 2021USD ($)previousClaim	Dec. 31, 2020USD ($)
Other Commitments [Line Items]
Number of previous claims experienced | previousClaim			0
Sales and use tax liability			$ 6.2	$ 6.6
Sales and use tax receivable			$ 3.3	$ 2.1
Privately Held Company
Other Commitments [Line Items]
Consideration transferred		$ 35.5
Privately Held Company | Technology Solutions
Other Commitments [Line Items]
Consideration transferred	$ 18
Asset acquisition, advance	3
Earn-out payment	$ 10
Target metrics term	5 years

Uncategorized Items - env-20210

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]