Envestnet (ENV) 10-Q 5 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Jul. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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	1000 Chesterbrook Boulevard
Entity Address, Address Line Two	Suite 250
Entity Address, City or Town	Berwyn
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19312
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		55,196,880
Entity Central Index Key	0001337619
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 338,115	$ 429,279
Fees receivable, net	82,878	95,291
Prepaid expenses and other current assets	46,627	42,706
Total current assets	467,620	567,276
Property and equipment, net	61,392	50,215
Internally developed software, net	159,751	133,659
Intangible assets, net	386,231	400,396
Goodwill	936,054	925,154
Operating lease right-of-use assets, net	83,494	90,714
Other non-current assets	92,858	73,768
Total assets	2,187,400	2,241,182
Current liabilities:
Accrued expenses and other liabilities	198,230	225,159
Accounts payable	20,444	19,092
Operating lease liabilities	10,852	10,999
Deferred revenue	37,453	33,473
Current portion of long-term debt	343,057	0
Total current liabilities	610,036	288,723
Long-term debt, net of current portion	508,282	848,862
Non-current operating lease liabilities	110,623	105,920
Deferred tax liabilities, net	12,912	21,021
Other non-current liabilities	11,555	17,114
Total liabilities	1,253,408	1,281,640
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, 2022 and December 31, 2021	0	0
Common stock, par value $0.005, 500,000,000 shares authorized; 69,666,983 and 68,879,152 shares issued as of June 30, 2022 and December 31, 2021, respectively; 55,179,401 and 54,793,088 shares outstanding as of June 30, 2022 and December 31, 2021, respectively	348	344
Additional paid-in capital	1,176,763	1,131,628
Accumulated deficit	(75,132)	(37,988)
Treasury stock at cost, 14,487,582 and 14,086,064 shares as of June 30, 2022 and December 31, 2021, respectively	(162,344)	(134,996)
Accumulated other comprehensive loss	(6,470)	(1,899)
Total stockholders’ equity	933,165	957,089
Non-controlling interest	827	2,453
Total equity	933,992	959,542
Total liabilities and equity	$ 2,187,400	$ 2,241,182

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
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)	69,666,983	68,879,152
Common stock, shares outstanding (in shares)	55,179,401	54,793,088
Treasury stock (in shares)	14,487,582	14,086,064

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Total revenues	$ 318,852	$ 288,738	$ 640,215	$ 563,843
Operating expenses:
Cost of revenues	126,482	100,494	251,764	193,363
Compensation and benefits	125,767	105,548	252,616	206,262
General and administration	66,144	41,755	110,479	78,070
Depreciation and amortization	32,182	30,010	63,800	58,402
Total operating expenses	350,575	277,807	678,659	536,097
Income (loss) from operations	(31,723)	10,931	(38,444)	27,746
Other income (expense), net	1,622	(3,784)	(4,345)	(11,252)
Income (loss) before income tax provision (benefit)	(30,101)	7,147	(42,789)	16,494
Income tax provision (benefit)	(5,833)	15,516	(3,813)	9,928
Net income (loss)	(24,268)	(8,369)	(38,976)	6,566
Add: Net loss attributable to non-controlling interest	983	88	1,832	99
Net income (loss) attributable to Envestnet, Inc.	$ (23,285)	$ (8,281)	$ (37,144)	$ 6,665
Net income (loss) per share attributable to Envestnet, Inc.:
Basic (in dollars per share)	$ (0.42)	$ (0.15)	$ (0.67)	$ 0.12
Diluted (in dollars per share)	$ (0.42)	$ (0.15)	$ (0.67)	$ 0.12
Weighted average common shares outstanding:
Basic (in shares)	55,203,120	54,440,388	55,054,272	54,325,353
Diluted (in shares)	55,203,120	54,440,388	55,054,272	55,136,946
Total recurring revenues
Revenues:
Total revenues	$ 310,092	$ 282,579	$ 627,543	$ 551,783
Asset-based
Revenues:
Total revenues	191,972	170,075	394,689	329,450
Operating expenses:
Cost of revenues	112,301	93,341	229,729	179,531
Subscription-based
Revenues:
Total revenues	118,120	112,504	232,854	222,333
Operating expenses:
Cost of revenues	7,241	7,027	15,052	13,631
Professional services and other revenues
Revenues:
Total revenues	8,760	6,159	12,672	12,060
Operating expenses:
Cost of revenues	$ 6,940	$ 126	$ 6,983	$ 201

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss) attributable to Envestnet, Inc.	$ (23,285)	$ (8,281)	$ (37,144)	$ 6,665
Foreign currency translation losses, net of taxes	(3,093)	(1,264)	(4,571)	(1,888)
Comprehensive income (loss) attributable to Envestnet, Inc.	$ (26,378)	$ (9,545)	$ (41,715)	$ 4,777

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 Capital Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Non-controlling Interest
Beginning balance (in shares) at Dec. 31, 2020			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		$ 0		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 loss, net of taxes	(624)						(624)
Other	118									118
Net income (loss)	14,935							14,946		(11)
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)
Beginning balance (in shares) at Dec. 31, 2020			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
Foreign currency translation loss, net of taxes	(1,888)
Net income (loss)	6,566
Ending balance (in shares) at Jun. 30, 2021			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
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		$ 0		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)
Capital contribution - non-controlling interest	23				(788)					811
Foreign currency translation loss, net of taxes	(1,264)						(1,264)
Other	38									38
Net income (loss)	(8,369)							(8,281)		(88)
Ending balance (in shares) at Jun. 30, 2021			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
Beginning balance (in shares) at Dec. 31, 2021	68,879,152		68,879,152
Balance, at period start at Dec. 31, 2021	$ 959,542		$ 344	$ (134,996)	1,131,628		(1,899)	(37,988)		2,453
Treasury stock, beginning balance (in shares) at Dec. 31, 2021				(14,086,064)
Increase (decrease) in shareholders' equity
Exercise of stock options (in shares)			38,681
Exercise of stock options	658				658
Issuance of common stock - vesting of restricted stock units (in shares)			514,319
Issuance of common stock - vesting of restricted stock units	3		$ 3
Stock-based compensation expense	21,690				21,690
Shares withheld to satisfy tax withholdings (in shares)				(170,992)
Shares withheld to satisfy tax withholdings	(12,570)			$ (12,570)
Foreign currency translation loss, net of taxes	(1,478)						(1,478)
Other	18				(84)					102
Net income (loss)	(14,708)							(13,859)		(849)
Treasury stock, ending balance (in shares) at Mar. 31, 2022				(14,257,056)
Ending balance (in shares) at Mar. 31, 2022			69,432,152
Balance, at period end at Mar. 31, 2022	$ 953,155		$ 347	$ (147,566)	1,153,892		(3,377)	(51,847)		1,706
Beginning balance (in shares) at Dec. 31, 2021	68,879,152		68,879,152
Balance, at period start at Dec. 31, 2021	$ 959,542		$ 344	$ (134,996)	1,131,628		(1,899)	(37,988)		2,453
Treasury stock, beginning balance (in shares) at Dec. 31, 2021				(14,086,064)
Increase (decrease) in shareholders' equity
Exercise of stock options (in shares)	41,184
Foreign currency translation loss, net of taxes	$ (4,571)
Net income (loss)	$ (38,976)
Treasury stock, ending balance (in shares) at Jun. 30, 2022				(14,487,582)
Ending balance (in shares) at Jun. 30, 2022	69,666,983		69,666,983
Balance, at period end at Jun. 30, 2022	$ 933,992		$ 348	$ (162,344)	1,176,763		(6,470)	(75,132)		827
Beginning balance (in shares) at Mar. 31, 2022			69,432,152
Balance, at period start at Mar. 31, 2022	953,155		$ 347	$ (147,566)	1,153,892		(3,377)	(51,847)		1,706
Treasury stock, beginning balance (in shares) at Mar. 31, 2022				(14,257,056)
Increase (decrease) in shareholders' equity
Exercise of stock options (in shares)			2,503
Exercise of stock options	84				84
Issuance of common stock - vesting of restricted stock units (in shares)			232,328
Issuance of common stock - vesting of restricted stock units	1		$ 1
Stock-based compensation expense	22,876				22,876
Shares withheld to satisfy tax withholdings (in shares)				(78,506)
Shares withheld to satisfy tax withholdings	(5,543)			$ (5,543)
Share repurchase (in shares)				(152,020)
Share repurchase	(9,235)			$ (9,235)
Foreign currency translation loss, net of taxes	(3,093)						(3,093)
Other	15				(89)					104
Net income (loss)	$ (24,268)							(23,285)		(983)
Treasury stock, ending balance (in shares) at Jun. 30, 2022				(14,487,582)
Ending balance (in shares) at Jun. 30, 2022	69,666,983		69,666,983
Balance, at period end at Jun. 30, 2022	$ 933,992		$ 348	$ (162,344)	$ 1,176,763		$ (6,470)	$ (75,132)		$ 827

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($)
Cumulative Effect, Period of Adoption, Adjustment
Income tax provision (benefit)	$ 7,641

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
OPERATING ACTIVITIES:
Net income (loss)	$ (38,976)	$ 6,566
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	63,800	58,402
Provision for doubtful accounts	(1,230)	455
Deferred income taxes	(8,222)	8,137
Release of uncertain tax positions	(3,095)	0
Non-cash compensation expense	45,318	31,422
Non-cash interest expense	3,474	2,906
Accretion on contingent consideration and purchase liability	0	575
Payments of contingent consideration	0	(2,360)
Fair market value adjustment to contingent consideration liability	0	(140)
Fair market value adjustment to investment in private company	0	(758)
Loss allocations from equity method investments	2,945	4,045
Dilution gain on equity method investee share issuance	(6,934)	0
Impairment of right of use assets	12,961	1,110
Loss on property and equipment disposals - office closures	3,710	0
Other	167	282
Changes in operating assets and liabilities:
Fees receivable, net	13,694	(1,334)
Prepaid expenses and other current assets	(2,721)	(155)
Other non-current assets	(3,638)	3,665
Accrued expenses and other liabilities	(31,962)	527
Accounts payable	1,368	2,333
Deferred revenue	4,277	2,789
Other non-current liabilities	(2,294)	692
Net cash provided by operating activities	52,642	119,159
INVESTING ACTIVITIES:
Purchases of property and equipment	(9,141)	(11,357)
Capitalization of internally developed software	(43,045)	(31,802)
Acquisition of proprietary technology	(15,000)	(25,517)
Acquisitions of businesses, net of cash acquired	(14,472)	(33,143)
Investments in private companies	(8,000)	(4,549)
Advance for technology solutions	(4,000)	(3,000)
Issuance of notes receivable to equity method investees	(4,350)	0
Net cash used in investing activities	(98,008)	(109,368)
FINANCING ACTIVITIES:
Proceeds from exercise of stock options	742	573
Capital contributions - non-controlling shareholders	0	23
Taxes paid in lieu of shares issued for stock-based compensation	(18,113)	(13,020)
Finance lease payments	(14,517)	0
Share repurchases	(9,235)	(2,097)
Revolving credit facility issuance costs	(1,872)	0
Payments of contingent consideration	(750)	(9,200)
Other	4	(587)
Net cash used in financing activities	(43,741)	(24,308)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(2,057)	(524)
DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(91,164)	(15,041)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	429,428	384,714
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD (See Note 2)	338,264	369,673
Supplemental disclosure of cash flow information - net cash paid during the period for income taxes	5,460	3,077
Supplemental disclosure of cash flow information - cash paid during the period for interest	5,591	5,533
Supplemental disclosure of non-cash operating, investing and financing activities:
Purchase liabilities included in other non-current liabilities	0	3,300
Fixed assets acquired through finance lease	14,517	0
Purchase of fixed assets included in accounts payable and accrued expenses and other liabilities	2,308	832
Internally developed software costs included in accrued expenses and other liabilities	628	0
Membership interest liabilities included in other non-current liabilities	752	248
Leasehold improvements funded by lease incentive	0	164
Assets obtained in exchange for lease liabilities, net	9,604	999
Conversion of equity method investee loan to shares	$ 2,623	$ 0

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 2022
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 insight are delivered. Its mission is to empower financial advisors and service providers with innovative technology, solutions and intelligence. Envestnet has been a leader in helping transform wealth management, working towards its goal of expanding a holistic financial wellness ecosystem so that our clients can deliver an intelligent financial life to their clients. 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, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021 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, 2021 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, 2022 and 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 income (expense), net in the condensed consolidated statements of operations. The results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results of operations 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, 2021, filed with the SEC on February 25, 2022. 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, 2022 2021 (in thousands) Cash and cash equivalents $ 338,115 $ 369,524 Restricted cash included in prepaid expenses and other current assets 149 149 Total cash, cash equivalents and restricted cash $ 338,264 $ 369,673 Russia and Ukraine Conflict In February 2022, military conflict escalated between Russia and Ukraine which continues as of the date of this quarterly report. The uncertainty over the extent and duration of the ongoing conflict continues to cause disruptions to businesses and markets worldwide. The extent of the effect on the Company’s financial performance will continue to depend on future developments, including the extent and duration of the conflict, economic sanctions imposed, further governmental and private sector responses and the timing and extent normal economic conditions resume, all of which are uncertain and difficult to predict. Although the Company is unable to estimate the overall financial effect of the conflict at this time, as the conflict 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, 2022, these condensed consolidated financial statements do not reflect any adjustments as a result of the conflict. Related Party Transactions The Company has an approximate 4.4% 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 $4.3 million and $3.9 million in the three months ended June 30, 2022 and 2021, respectively. Revenues from the private services company totaled $9.0 million and $7.7 million in the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022 and December 31, 2021, the Company recorded a net receivable of $2.5 million and $3.0 million, respectively, from the private services company. Dilution gain on equity method investee share issuance The Company has an ownership interest in a privately held company that is accounted for under the equity method. During the six months ended June 30, 2022, the Company funded a $2.5 million convertible loan to this privately held company. During the three months ended June 30, 2022, this privately held company raised additional preferred equity which reduced the Company's ownership to 41.0% and the Company's convertible loan was converted. As a result of this transaction, the Company recorded a $6.9 million dilution gain during the three months ended June 30, 2022, which is included in other income (expense), net in the condensed consolidated statements of operations. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements — In October 2021, the FASB issued ASU 2021-08, “Business Combinations (Topic 805).” This update amends Topic 805 to add contract assets and contract liabilities to the list of exceptions to the recognition and measurement principles that apply to business combinations and to require that an entity (acquirer) recognize and measure contract assets and contract liabilities in accordance with ASC 606. This standard is effective for financial statements issued by public companies for annual and interim periods beginning after December 15, 2022. Early adoption of the standard is permitted. The amendment is to be applied prospectively to business combinations occurring on or after the effective date of the amendment. The Company adopted this standard as of January 1, 2022. Adoption of this standard did not have a material impact on the Company's condensed consolidated financial statements.

Acquisitions and Other Investme

Acquisitions and Other Investments	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Other Investments	Acquisitions and Other Investments Investment in Privately Held Company On May 20, 2022, the Company acquired a 25.0% interest in a privately held company for cash consideration of $5.0 million. Subject to the occurrence of certain conditions, the Company agreed to invest up to an additional $10.0 million for additional units in the future. The Company uses the equity method of accounting to record its portion of this privately held company's net income or loss on a one quarter lag from the actual results of operations. The Company uses the equity method of accounting because of its less than 50% ownership interest and lack of control and does not otherwise exercise control over the significant economic and operating decisions of the privately held company. Acquisition of 401kplans.com On May 31, 2022, Envestnet Retirement Solutions, LLC, a wholly-owned subsidiary of the Company, acquired all of the issued and outstanding membership interests of 401kplans.com LLC (“401kplans.com”). 401kplans.com has been integrated into the Envestnet Wealth Solutions segment. 401kplans.com provides a digital 401(k) retirement plan marketplace that streamlines retirement plan distribution and due diligence among financial advisors and third-party administrators. The acquisition demonstrates Envestnet's commitment to the retirement plan industry and is expected to create a more seamless experience and enhance productivity for advisors by helping them shop, compare and select the best-fitting 401(k) plan for their client. In connection with the 401kplans.com acquisition, the Company paid estimated consideration of $14.5 million, net of cash acquired, subject to certain post-closing adjustments. The Company funded the acquisition with cash on hand. The following table summarizes the estimated fair values of the assets acquired at the date of acquisition: Preliminary Estimate (in thousands) Tangible assets acquired, net of acquired cash $ 94 Identifiable intangible assets 3,000 Goodwill 11,378 Total net assets acquired $ 14,472 The goodwill arising from the acquisition represents the expected benefits of the transaction, primarily related to the enhancement of the Company's existing technologies and increase in future revenues as a result of potential cross selling opportunities. The estimated goodwill is 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 $ 3,000 5 Straight-line The estimated fair values of certain of the assets 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 procedures 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, identifiable intangible assets and goodwill balances and complete the acquisition accounting as soon as reasonably practicable but no later than May 31, 2023. The results of 401kplans.com's operations are included in the condensed consolidated statements of operations beginning May 31, 2022 and were not considered material to the Company’s results of operations. For the three and six months ended June 30, 2022, 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 2022.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	6 Months Ended
	Jun. 30, 2022
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, 2022 2021 (in thousands) Prepaid technology $ 20,928 $ 15,415 Non-income tax receivables 5,703 7,013 Prepaid insurance 5,004 2,234 Escrow for acquisition 2,951 2,951 Other 12,041 15,093 Total prepaid expenses and other current assets $ 46,627 $ 42,706

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2022
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 2022 2021 (in thousands) Cost: Computer equipment and software 3 years $ 72,638 $ 72,289 Leasehold improvements Shorter of the lease term or useful life of the asset 36,707 43,544 Leased data servers 3 years 15,108 590 Office furniture and fixtures 3-7 years 10,789 12,214 Office equipment and other 3-5 years 9,027 7,973 Building and building improvements 7-39 years 2,729 2,729 Land Not applicable 940 940 147,938 140,279 Less: accumulated depreciation and amortization (86,546) (90,064) Total property and equipment, net $ 61,392 $ 50,215 During the six months ended June 30, 2022, the Company entered into an arrangement with a third party cloud service provider for the use of dedicated servers to migrate its infrastructure to the cloud. As the terms of the arrangement convey a finance lease under FASB Topic 842 - Leases (“ASC 842”), the Company accounts for those dedicated servers as leased assets when the lease term commences. The Company accounts for each lease and any non-lease components associated with that lease as a single lease component for all asset classes. The leased dedicated servers are presented as a component of property and equipment, net in the condensed consolidated balance sheets as of June 30, 2022. To take advantage of the favorable savings programs offered by the cloud service provider, the Company prepaid the lease payments and therefore does not have a lease liability recorded for the leased assets. Gross property and equipment under finance leases as of June 30, 2022 was $15.1 million with accumulated depreciation of $2.3 million. Finance lease activity as of and for the year ended December 31, 2021 was not material. Office Closures In April 2022, in response to changing needs and an increase in employees working remotely, the Company closed three offices in the United States. The Company is currently exploring alternative uses for these properties, including sublease options. During the three and six months ended June 30, 2022, including the office closures, the Company retired property and equipment that was no longer in service for the Envestnet Wealth Solutions segment with an historical cost of $13.6 million and $16.5 million, respectively. Including the office closures, gains and losses on asset retirements were $3.7 million in the three and six months ended June 30, 2022 for the Envestnet Wealth Solutions segment. The Company also recognized $13.0 million of lease restructuring costs in the three and six months ended June 30, 2022 which are included in general and administration expense in the condensed consolidated statements of operations. Gains and losses on asset retirements during the three and six months ended June 30, 2022 were not material for the Envestnet Data & Analytics segment. 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. Gains and losses on asset retirements during the three and six months ended June 30, 2021 were not material. Depreciation and amortization expense was as follows: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) Depreciation and amortization expense $ 5,450 $ 5,246 $ 11,054 $ 10,889

Internally Developed Software

Internally Developed Software	6 Months Ended
	Jun. 30, 2022
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 2022 2021 (in thousands) Internally developed software 5 years $ 269,053 $ 225,380 Less: accumulated amortization (109,302) (91,721) Internally developed software, net $ 159,751 $ 133,659 Amortization expense was as follows: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) Amortization expense $ 9,087 $ 7,262 $ 17,581 $ 13,533

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	6 Months Ended
	Jun. 30, 2022
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, 2021 $ 621,876 $ 303,278 $ 925,154 401kplans.com acquisition 11,378 — 11,378 Foreign currency translation — (478) (478) Balance at June 30, 2022 $ 633,254 $ 302,800 $ 936,054 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 Company closed the transaction and paid the remaining $15.0 million in February 2022. This proprietary technology asset has been integrated into the Envestnet Data & Analytics segment and is being amortized over an estimated useful life of five years. In addition, the agreement includes an earn-out payment of $10.0 million based upon the achievement of certain target metrics within five years after the date of the Company’s launch of the technology solutions. The parties have agreed to renegotiate the terms of the earn-out payment. Intangible assets, net consisted of the following: June 30, 2022 December 31, 2021 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Amortization Amount Amount Amortization Amount (in thousands) Customer lists $ 590,080 $ (263,212) $ 326,868 $ 590,080 $ (241,189) $ 348,891 Proprietary technologies 106,324 (53,682) 52,642 85,324 (43,004) 42,320 Trade names 33,700 (26,979) 6,721 33,700 (24,515) 9,185 Total intangible assets $ 730,104 $ (343,873) $ 386,231 $ 709,104 $ (308,708) $ 400,396 There were no material retirements of intangible assets during the three and six months ended June 30, 2022 and 2021. Amortization expense was as follows: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) Amortization expense $ 17,645 $ 17,502 $ 35,165 $ 33,980

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2022
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, 2022 2021 (in thousands) Accrued investment manager fees $ 97,052 $ 95,858 Accrued compensation and related taxes 67,761 97,523 Accrued professional services 8,894 7,746 Accrued technology 6,667 8,951 Non-income tax payables 4,053 4,907 Other accrued expenses 13,803 10,174 Total accrued expenses and other liabilities $ 198,230 $ 225,159

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt The Company’s outstanding debt obligations as of June 30, 2022 and December 31, 2021 were as follows: June 30, December 31, 2022 2021 (in thousands) Revolving credit facility balance $ — $ — Convertible Notes due 2023 $ 345,000 $ 345,000 Unamortized issuance costs on Convertible Notes due 2023 (1,943) (2,979) Convertible Notes due 2023 carrying value $ 343,057 $ 342,021 Convertible Notes due 2025 $ 517,500 $ 517,500 Unamortized issuance costs on Convertible Notes due 2025 (9,218) (10,659) Convertible Notes due 2025 carrying value $ 508,282 $ 506,841 Third Credit Agreement On February 4, 2022, the Company entered into a Third Amended and Restated Credit Agreement (the “Third Credit Agreement”) with a group of banks (the “Banks”), for which Bank of Montreal is acting as administrative agent. The Third Credit Agreement amends and restates, in its entirety, the Company's prior credit agreement. In connection with entering into the Third Credit Agreement, the Company capitalized an additional $1.9 million of deferred financing charges to Other non-current assets on the condensed consolidated balance sheets and wrote off $0.6 million of pre-existing finance charges to Other expense, net on the condensed consolidated statements of operations. Pursuant to the Third Credit Agreement, the Banks have agreed to provide the Company with a revolving credit facility of $500.0 million (the “Revolving Credit Facility”). The Third Credit Agreement also includes a $20.0 million sub-facility for the issuances of letters of credit. As of June 30, 2022 and December 31, 2021, there were no amounts outstanding under the Revolving Credit Facility. Obligations under the Third Credit Agreement are guaranteed by substantially all of Envestnet’s U.S. subsidiaries and are secured by a first-priority lien on substantially all of the personal property (other than intellectual property) of Envestnet and the guarantors, subject to certain exclusions. Proceeds under the Third Credit Agreement may be used to finance capital expenditures and permitted acquisitions and for working capital and general corporate purposes. In the event the Company has borrowings under the Third Credit Agreement, at the Company's option, it will pay interest on these borrowings at a rate equal to either (i) a base rate plus an applicable margin ranging from 0.25% to 1.75% per annum or (ii) an adjusted Term Secured Overnight Financing Rate (“SOFR”) plus an applicable margin ranging from 1.25% to 2.75% per annum, in each case based upon the total net leverage ratio, as calculated pursuant to the Credit Agreement. Any borrowings under the Third Credit Agreement will mature on February 4, 2027. There is also a commitment fee at a rate ranging from 0.25% to 0.30% per annum based upon the total net leverage ratio. As of June 30, 2022, debt issuance costs related to the Third Credit Agreement are presented in prepaid expenses and other non-current assets in the condensed consolidated balance sheets which have outstanding amounts of $0.7 million and $2.5 million, respectively. The Third Credit Agreement contains customary conditions, representations and warranties, affirmative and negative covenants, mandatory prepayment provisions and events of default. The covenants include certain financial covenants requiring the Company to maintain compliance with a maximum total leverage ratio, a minimum interest coverage ratio and a minimum liquidity covenant. The Company was in compliance with these financial covenants as of June 30, 2022. As of June 30, 2022, the Company had all $500.0 million available to borrow under the Revolving Credit Facility, subject to covenant compliance. Convertible Notes due 2023 In May 2018, the Company issued $345.0 million of Convertible Notes due 2023 that mature on June 1, 2023. The Convertible Notes due 2023 bear interest at a rate of 1.75% per annum payable semiannually in arrears on June 1 and December 1 of each year. The Convertible Notes due 2023 are general unsecured obligations, subordinated in right of payment to the Company's obligations under its Credit Agreement. The effective interest rate of the Convertible Notes due 2023 was approximately 2.4% for the three and six months ended June 30, 2022 and 2021. 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. Convertible Notes due 2025 In August 2020, the Company issued $517.5 million of Convertible Notes due 2025 that mature on August 15, 2025. The Convertible Notes due 2025 bear interest at a rate of 0.75% per annum payable semiannually in arrears on February 15 and August 15 of each year. The Convertible Notes due 2025 are general unsecured obligations, subordinated in right of payment to the Company's obligations under its Credit Agreement. The effective interest rate of the Convertible Notes due 2025 was approximately 1.3% for the three and six months ended June 30, 2022 and 2021. 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. 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, 2022 2021 2022 2021 (in thousands) Coupon interest $ 2,480 $ 2,480 $ 4,960 $ 4,960 Amortization of issuance costs 1,415 1,429 3,474 2,852 Undrawn and other fees 317 316 631 628 Total interest expense $ 4,212 $ 4,225 $ 9,065 $ 8,440 For each of the three months ended June 30, 2022 and 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 with coupon interest expense of $2.5 million and amortization of debt discount and issuance costs of $1.2 million.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
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, 2022 and December 31, 2021, based on the three-tier fair value hierarchy, as defined in ASC 820, “Fair Value Measurements and Disclosures”: June 30, 2022 Fair Value Level I Level II Level III (in thousands) Assets: Money market funds $ 1,819 $ 1,819 $ — $ — Assets to fund deferred compensation liability 10,107 — — 10,107 Total assets $ 11,926 $ 1,819 $ — $ 10,107 Liabilities: Deferred compensation liability 7,947 7,947 — — Total liabilities $ 7,947 $ 7,947 $ — $ — December 31, 2021 Fair Value Level I Level II Level III (in thousands) Assets: Money market funds $ 2,684 $ 2,684 $ — $ — Assets to fund deferred compensation liability 11,140 — — 11,140 Total assets $ 13,824 $ 2,684 $ — $ 11,140 Liabilities: Contingent consideration $ 743 $ — $ — $ 743 Deferred compensation liability 10,418 10,418 — — Total liabilities $ 11,161 $ 10,418 $ — $ 743 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 three and six months ended June 30, 2022 and 2021. 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 Company had contingent consideration liabilities of $0.7 million as of December 31, 2021 which were recorded as a component of Accrued expenses and other liabilities on the condensed consolidated balance sheets. The Company had no contingent consideration liabilities as of June 30, 2022. Fair Value of Deferred Compensation Liability The table below presents a reconciliation of the assets used to fund 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, 2021 to June 30, 2022: Fair Value of Assets to Fund Deferred Compensation Liability (in thousands) Balance at December 31, 2021 $ 11,140 Contributions 649 Fair value adjustments and fees (1,682) Balance at June 30, 2022 $ 10,107 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, decreased due to net losses on the underlying investment vehicles, partially offset by additional funding. These losses 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 its Convertible Notes to be Level II liabilities at June 30, 2022 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, 2022 (See “Note 9—Debt”). As of June 30, 2022 and December 31, 2021, the carrying value of the Convertible Notes due 2023 equaled $343.1 million and $342.0 million, respectively, and represented the aggregate principal amount outstanding less the debt issuance costs. As of June 30, 2022 and December 31, 2021, the estimated fair value of the Convertible Notes due 2023 was $349.8 million and $439.9 million, respectively. As of June 30, 2022 and December 31, 2021, the carrying value of the Convertible Notes due 2025 equaled $508.3 million and $506.8 million, respectively, and represented the aggregate principal amount outstanding less the debt issuance costs. As of June 30, 2022 and December 31, 2021, the estimated fair value of the Convertible Notes due 2025 was $451.5 million and $526.1 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, 2022 and December 31, 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, 2022
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, 2022 2022 2021 Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated (in thousands) Revenues: Asset-based $ 191,972 $ — $ 191,972 $ 170,075 $ — $ 170,075 Subscription-based 73,568 44,552 118,120 66,663 45,841 112,504 Total recurring revenues 265,540 44,552 310,092 236,738 45,841 282,579 Professional services and other revenues 6,460 2,300 8,760 3,559 2,600 6,159 Total revenues $ 272,000 $ 46,852 $ 318,852 $ 240,297 $ 48,441 $ 288,738 Six Months Ended June 30, 2022 2021 Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated (in thousands) Revenues: Asset-based $ 394,689 $ — $ 394,689 $ 329,450 $ — $ 329,450 Subscription-based 142,105 90,749 232,854 130,675 91,658 222,333 Total recurring revenues 536,794 90,749 627,543 460,125 91,658 551,783 Professional services and other revenues 8,774 3,898 12,672 6,582 5,478 12,060 Total revenues $ 545,568 $ 94,647 $ 640,215 $ 466,707 $ 97,136 $ 563,843 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, 2022 2021 2022 2021 (in thousands) United States $ 314,271 $ 283,589 $ 631,000 $ 553,661 International 4,581 5,149 9,215 10,182 Total revenues $ 318,852 $ 288,738 $ 640,215 $ 563,843 Remaining Performance Obligations The following table includes estimated revenue expected to be recognized in the future as of June 30, 2022: Years ending December 31, (in thousands) Remainder of 2022 $ 137,741 2023 196,180 2024 114,774 2025 67,070 2026 35,991 Thereafter 8,228 Total $ 559,984 The remaining performance obligations disclosed above are not indicative of revenue for future periods. Remaining performance obligations represent the transaction price allocated to unsatisfied or partially satisfied performance obligations. The disclosure includes estimates of variable consideration. The Company applies the practical expedients and exemption not to 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, 2022 increased by $4.3 million from December 31, 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 $10.2 million and $9.5 million for the three months ended June 30, 2022 and 2021, respectively. The amount of revenue recognized that was included in the opening deferred revenue balance was $26.1 million and $26.3 million for the six months ended June 30, 2022 and 2021, 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 $11.4 million and $11.8 million as of June 30, 2022 and December 31, 2021, respectively. Amortization expense for the deferred sales incentive compensation was $1.1 million for each of the three months ended June 30, 2022 and 2021. Amortization expense for the deferred sales incentive compensation was $2.2 million and $2.1 million for the six months ended June 30, 2022 and 2021. 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, 2022 2021 2022 2021 (in thousands) Asset-based $ 112,301 $ 93,341 $ 229,729 $ 179,531 Subscription-based 7,241 7,027 15,052 13,631 Professional services and other 6,940 126 6,983 201 Total cost of revenues $ 126,482 $ 100,494 $ 251,764 $ 193,363

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2022
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 of June 30, 2022, the maximum number of common shares available for future issuance under the Company’s plans is 2,537,157. Stock-based compensation expense under the Company’s plans was as follows: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) Stock-based compensation expense $ 22,876 $ 17,409 $ 44,566 $ 31,422 Tax effect on stock-based compensation expense (5,833) (4,439) (11,364) (8,013) Net effect on income $ 17,043 $ 12,970 $ 33,202 $ 23,409 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, 2022 and 2021. Stock Options The Company did not grant any stock options in the three and six months ended June 30, 2021 or 2022. 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, 2021 365,241 $ 38.61 3.3 $ 14,878 Exercised (41,184) 18.04 Forfeited (4,472) 74.83 Outstanding as of June 30, 2022 319,585 40.75 2.4 3,888 Options exercisable 319,276 $ 40.72 2.4 $ 3,888 Exercise prices of stock options outstanding as of June 30, 2022 range from $15.34 to $74.83. At June 30, 2022, 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 1.1 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 0% 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, 2021 1,507,424 $ 71.50 359,184 $ 73.64 Granted 1,301,073 74.49 113,269 69.67 Vested (618,310) 70.52 (128,337) 65.81 Forfeited (176,727) 73.01 (57,987) 77.53 Outstanding as of June 30, 2022 2,013,460 73.60 286,129 74.79 At June 30, 2022, there was $129.2 million of unrecognized stock-based compensation expense related to unvested restricted stock units, which the Company expects to recognize over a weighted-average period of 2.1 years. At June 30, 2022, there was $11.0 million of unrecognized stock-based compensation expense related to unvested performance-based restricted stock units, which the Company expects to recognize over a weighted-average period of 1.9 years.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table includes the Company’s income (loss) before income tax provision, income tax provision and effective tax rate: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands, except for effective tax rate) Income (loss) before income tax provision (benefit) $ (30,101) $ 7,147 $ (42,789) $ 16,494 Income tax provision (benefit) (5,833) 15,516 (3,813) 9,928 Effective tax rate 19.4 % 217.1 % 8.9 % 60.2 % 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, 2022 and 2021, 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, 2022, 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 which includes the impact of IRC Section 174, permanent book-tax differences, the impact of state and local taxes offset by federal and state research and development ("R&D") credits and the partial reserve release of an uncertain tax position due to the expiration of a statute of limitations. 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,

Net Income (Loss) Per Share

Net Income (Loss) Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share 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, 2022 2021 2022 2021 (in thousands, except share and per share data) Net income (loss) attributable to Envestnet, Inc. ( a ) $ (23,285) $ (8,281) $ (37,144) $ 6,665 Weighted-average common shares outstanding: Basic ( b ) 55,203,120 54,440,388 55,054,272 54,325,353 Effect of dilutive shares: Options to purchase common stock — — — 210,381 Unvested restricted stock units — — — 536,186 Warrants — — — 65,026 Diluted ( c ) 55,203,120 54,440,388 55,054,272 55,136,946 Net income (loss) per share attributable to Envestnet, Inc common stock: Basic ( a/b ) $ (0.42) $ (0.15) $ (0.67) $ 0.12 Diluted ( a/c ) $ (0.42) $ (0.15) $ (0.67) $ 0.12 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, 2022 2021 2022 2021 (in thousands) Options to purchase common stock 319,585 405,638 319,585 — Unvested RSUs and PSUs 2,299,589 2,161,056 2,299,589 39,652 Warrants 470,000 470,000 470,000 — Convertible Notes 9,898,549 9,898,549 9,898,549 9,898,549 Total anti-dilutive securities 12,987,723 12,935,243 12,987,723 9,938,201

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2022
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 to enable them to deliver an intelligent financial life to their clients. • Envestnet Data & Analytics – a leading data aggregation, intelligence, and experiences platform that powers data connectivity and business intelligence across digital financial services to enable them to deliver an Intelligent Financial Life to their clients. The information in the following tables 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, certain 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, 2022 and 2021. See “Note 11—Revenues and Cost of Revenues” for detail of revenues 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, 2022 2021 2022 2021 (in thousands) Envestnet Wealth Solutions $ 3,968 $ 32,459 $ 29,237 $ 66,656 Envestnet Data & Analytics (3,705) 1,342 (9,292) 2,631 Nonsegment operating expenses (31,986) (22,870) (58,389) (41,541) Income (loss) from operations (31,723) 10,931 (38,444) 27,746 Other income (expense), net 1,622 (3,784) (4,345) (11,252) Consolidated income (loss) before income tax benefit (30,101) 7,147 (42,789) 16,494 Income tax provision (benefit) (5,833) 15,516 (3,813) 9,928 Consolidated net income (loss) (24,268) (8,369) (38,976) 6,566 Add: Net loss attributable to non-controlling interest 983 88 1,832 99 Consolidated net income (loss) attributable to Envestnet, Inc. $ (23,285) $ (8,281) $ (37,144) $ 6,665 A summary of consolidated total assets follows: June 30, December 31, 2022 2021 (in thousands) Envestnet Wealth Solutions $ 1,615,651 $ 1,720,779 Envestnet Data & Analytics 571,749 520,403 Consolidated total assets $ 2,187,400 $ 2,241,182

Geographical Information

Geographical Information	6 Months Ended
	Jun. 30, 2022
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, 2022 2021 (in thousands) United States $ 218,397 $ 180,680 India 2,571 2,923 Other 175 271 Total long-lived assets, net $ 221,143 $ 183,874 See “Note 11—Revenues and Cost of Revenues” for detail of revenues by geographic area.

Commitments

Commitments	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments	Commitments 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 April 1, 2022, 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 $9.0 million, including an advance of $4.0 million. This advance is included in other non-current assets in the condensed consolidated balance sheets. 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. On August 5, 2021, the Court granted the Company's motion to dismiss, and dismissed the Company from the lawsuit. Discovery continues on the remaining state law claims against Yodlee. On October 8, 2021, Yodlee filed a motion for summary judgment, which has been fully briefed. Oral argument is scheduled for August 22, 2022. Yodlee will continue to vigorously defend the remaining 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 any accrual for any claims as of June 30, 2022. 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.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Acquisition of Truelytics On July 1, 2022, pursuant to an agreement and plan of merger (the “Merger Agreement”), dated as of May 10, 2022, between, among others, Truelytics, Inc., (“Truelytics”), Yodlee, Inc. and Quadrant Merger Sub Inc., a wholly owned subsidiary of Envestnet (“Merger Sub”), the Company completed the merger of Truelytics with and into Merger Sub, with Truelytics continuing as the surviving corporation (the “Truelytics Merger”) and a wholly owned subsidiary of Envestnet. The acquisition of Truelytics aligns with the Company's strategy to further connect its ecosystem by creating transformative progress for its advisors and clients. Truelytics is an Advisor Transition Management platform and the first end-to-end data-driven system to help wealth management and insurance enterprises attract, grow, and retain advisory businesses, while also reducing the costs related to advisor transitions. The Truelytics platform combines Envestnet data, analytics, and wealth technology to further support advisors across the ecosystem. Envestnet expects to integrate Truelytics into the Company’s Envestnet Data and Analytics segment. Subject to the terms and conditions of the Merger Agreement, the Company paid estimated cash consideration of approximately $21 million, net of cash acquired, subject to certain post-closing adjustments. The Company funded the Truelytics acquisition with available cash resources. Due to the lack of available information, the disclosures in relation to ASC 805 are currently not able to be included in this Form 10-Q. Acquisition of Redi2 Technologies On July 1, 2022 pursuant to a stock purchase agreement, dated as of June 24, 2022, between Envestnet, Inc. (“Envestnet”) and Redi2 Technologies Inc., (“Redi2 Technologies”), Envestnet completed the acquisition of Redi2 Technologies (the “Redi2 Technologies Acquisition”). Redi2 Technologies provides revenue management and hosted fee-billing solutions. Its platform enables fee calculation, invoice creation, payouts and accounting, and billing compliance. The Company expects to integrate the technology and operations of the Redi2 Technologies business into the Company’s Envestnet Wealth segment. In connection with the Redi2 Technologies Acquisition, the Company paid estimated consideration of approximately $70 million in cash. The Company funded the Redi2 Technologies Acquisition with available cash resources. In addition, certain executives may earn up to $20 million based upon the achievement of certain target financial and non-financial metrics. Due to the lack of available information, the disclosures in relation to ASC 805 are currently not able to be included in this Form 10-Q. Exercise of Membership Interests The Company granted membership interests in certain of the Company's equity investments to two legacy PIEtech executives as part of its 2019 acquisition of PIEtech. These interests, which were fully vested as of May 1, 2020, became exercisable on May 1, 2022. In July 2022, these executives exercised their respective put options and sold these membership interests to the Company for approximately $10 million.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements — In October 2021, the FASB issued ASU 2021-08, “Business Combinations (Topic 805).” This update amends Topic 805 to add contract assets and contract liabilities to the list of exceptions to the recognition and measurement principles that apply to business combinations and to require that an entity (acquirer) recognize and measure contract assets and contract liabilities in accordance with ASC 606. This standard is effective for financial statements issued by public companies for annual and interim periods beginning after December 15, 2022. Early adoption of the standard is permitted. The amendment is to be applied prospectively to business combinations occurring on or after the effective date of the amendment. The Company adopted this standard as of January 1, 2022. Adoption of this standard did not have a material impact on the Company's condensed consolidated financial statements.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 2021 (in thousands) Cash and cash equivalents $ 338,115 $ 369,524 Restricted cash included in prepaid expenses and other current assets 149 149 Total cash, cash equivalents and restricted cash $ 338,264 $ 369,673
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, 2022 2021 (in thousands) Cash and cash equivalents $ 338,115 $ 369,524 Restricted cash included in prepaid expenses and other current assets 149 149 Total cash, cash equivalents and restricted cash $ 338,264 $ 369,673

Acquisitions and Other Invest_2

Acquisitions and Other Investments (Tables)	6 Months Ended
	Jun. 30, 2022
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 at the date of acquisition: Preliminary Estimate (in thousands) Tangible assets acquired, net of acquired cash $ 94 Identifiable intangible assets 3,000 Goodwill 11,378 Total net assets acquired $ 14,472
Schedule of Intangible Assets Acquired, Estimated Useful Lives and Amortization Method	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 $ 3,000 5 Straight-line

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 2021 (in thousands) Prepaid technology $ 20,928 $ 15,415 Non-income tax receivables 5,703 7,013 Prepaid insurance 5,004 2,234 Escrow for acquisition 2,951 2,951 Other 12,041 15,093 Total prepaid expenses and other current assets $ 46,627 $ 42,706

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2022
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 2022 2021 (in thousands) Cost: Computer equipment and software 3 years $ 72,638 $ 72,289 Leasehold improvements Shorter of the lease term or useful life of the asset 36,707 43,544 Leased data servers 3 years 15,108 590 Office furniture and fixtures 3-7 years 10,789 12,214 Office equipment and other 3-5 years 9,027 7,973 Building and building improvements 7-39 years 2,729 2,729 Land Not applicable 940 940 147,938 140,279 Less: accumulated depreciation and amortization (86,546) (90,064) Total property and equipment, net $ 61,392 $ 50,215 Depreciation and amortization expense was as follows: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) Depreciation and amortization expense $ 5,450 $ 5,246 $ 11,054 $ 10,889

Internally Developed Software (

Internally Developed Software (Tables)	6 Months Ended
	Jun. 30, 2022
Research and Development [Abstract]
Schedule of Internally Developed Software, Net	Internally developed software, net consisted of the following: June 30, December 31, Estimated Useful Life 2022 2021 (in thousands) Internally developed software 5 years $ 269,053 $ 225,380 Less: accumulated amortization (109,302) (91,721) Internally developed software, net $ 159,751 $ 133,659
Schedule of Amortization Expense	Amortization expense was as follows: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) Amortization expense $ 9,087 $ 7,262 $ 17,581 $ 13,533

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule 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, 2021 $ 621,876 $ 303,278 $ 925,154 401kplans.com acquisition 11,378 — 11,378 Foreign currency translation — (478) (478) Balance at June 30, 2022 $ 633,254 $ 302,800 $ 936,054
Schedule of Intangible Assets, Net	Intangible assets, net consisted of the following: June 30, 2022 December 31, 2021 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Amortization Amount Amount Amortization Amount (in thousands) Customer lists $ 590,080 $ (263,212) $ 326,868 $ 590,080 $ (241,189) $ 348,891 Proprietary technologies 106,324 (53,682) 52,642 85,324 (43,004) 42,320 Trade names 33,700 (26,979) 6,721 33,700 (24,515) 9,185 Total intangible assets $ 730,104 $ (343,873) $ 386,231 $ 709,104 $ (308,708) $ 400,396
Schedule of Amortization Expense	Amortization expense was as follows: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) Amortization expense $ 17,645 $ 17,502 $ 35,165 $ 33,980

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consisted of the following: June 30, December 31, 2022 2021 (in thousands) Accrued investment manager fees $ 97,052 $ 95,858 Accrued compensation and related taxes 67,761 97,523 Accrued professional services 8,894 7,746 Accrued technology 6,667 8,951 Non-income tax payables 4,053 4,907 Other accrued expenses 13,803 10,174 Total accrued expenses and other liabilities $ 198,230 $ 225,159

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Convertible Debt Obligations	The Company’s outstanding debt obligations as of June 30, 2022 and December 31, 2021 were as follows: June 30, December 31, 2022 2021 (in thousands) Revolving credit facility balance $ — $ — Convertible Notes due 2023 $ 345,000 $ 345,000 Unamortized issuance costs on Convertible Notes due 2023 (1,943) (2,979) Convertible Notes due 2023 carrying value $ 343,057 $ 342,021 Convertible Notes due 2025 $ 517,500 $ 517,500 Unamortized issuance costs on Convertible Notes due 2025 (9,218) (10,659) Convertible Notes due 2025 carrying value $ 508,282 $ 506,841
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, 2022 2021 2022 2021 (in thousands) Coupon interest $ 2,480 $ 2,480 $ 4,960 $ 4,960 Amortization of issuance costs 1,415 1,429 3,474 2,852 Undrawn and other fees 317 316 631 628 Total interest expense $ 4,212 $ 4,225 $ 9,065 $ 8,440

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of 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, 2022 and December 31, 2021, based on the three-tier fair value hierarchy, as defined in ASC 820, “Fair Value Measurements and Disclosures”: June 30, 2022 Fair Value Level I Level II Level III (in thousands) Assets: Money market funds $ 1,819 $ 1,819 $ — $ — Assets to fund deferred compensation liability 10,107 — — 10,107 Total assets $ 11,926 $ 1,819 $ — $ 10,107 Liabilities: Deferred compensation liability 7,947 7,947 — — Total liabilities $ 7,947 $ 7,947 $ — $ — December 31, 2021 Fair Value Level I Level II Level III (in thousands) Assets: Money market funds $ 2,684 $ 2,684 $ — $ — Assets to fund deferred compensation liability 11,140 — — 11,140 Total assets $ 13,824 $ 2,684 $ — $ 11,140 Liabilities: Contingent consideration $ 743 $ — $ — $ 743 Deferred compensation liability 10,418 10,418 — — Total liabilities $ 11,161 $ 10,418 $ — $ 743
Schedule of Reconciliation of Assets	The table below presents a reconciliation of the assets used to fund 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, 2021 to June 30, 2022: Fair Value of Assets to Fund Deferred Compensation Liability (in thousands) Balance at December 31, 2021 $ 11,140 Contributions 649 Fair value adjustments and fees (1,682) Balance at June 30, 2022 $ 10,107

Revenue and Cost of Revenues (T

Revenue and Cost of Revenues (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 2022 2021 Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated (in thousands) Revenues: Asset-based $ 191,972 $ — $ 191,972 $ 170,075 $ — $ 170,075 Subscription-based 73,568 44,552 118,120 66,663 45,841 112,504 Total recurring revenues 265,540 44,552 310,092 236,738 45,841 282,579 Professional services and other revenues 6,460 2,300 8,760 3,559 2,600 6,159 Total revenues $ 272,000 $ 46,852 $ 318,852 $ 240,297 $ 48,441 $ 288,738 Six Months Ended June 30, 2022 2021 Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated Envestnet Wealth Solutions Envestnet Data & Analytics Consolidated (in thousands) Revenues: Asset-based $ 394,689 $ — $ 394,689 $ 329,450 $ — $ 329,450 Subscription-based 142,105 90,749 232,854 130,675 91,658 222,333 Total recurring revenues 536,794 90,749 627,543 460,125 91,658 551,783 Professional services and other revenues 8,774 3,898 12,672 6,582 5,478 12,060 Total revenues $ 545,568 $ 94,647 $ 640,215 $ 466,707 $ 97,136 $ 563,843
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, 2022 2021 2022 2021 (in thousands) United States $ 314,271 $ 283,589 $ 631,000 $ 553,661 International 4,581 5,149 9,215 10,182 Total revenues $ 318,852 $ 288,738 $ 640,215 $ 563,843
Schedule of Estimated Revenue Expected to be Recognized in the Future	The following table includes estimated revenue expected to be recognized in the future as of June 30, 2022: Years ending December 31, (in thousands) Remainder of 2022 $ 137,741 2023 196,180 2024 114,774 2025 67,070 2026 35,991 Thereafter 8,228 Total $ 559,984
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, 2022 2021 2022 2021 (in thousands) Asset-based $ 112,301 $ 93,341 $ 229,729 $ 179,531 Subscription-based 7,241 7,027 15,052 13,631 Professional services and other 6,940 126 6,983 201 Total cost of revenues $ 126,482 $ 100,494 $ 251,764 $ 193,363

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 2021 2022 2021 (in thousands) Stock-based compensation expense $ 22,876 $ 17,409 $ 44,566 $ 31,422 Tax effect on stock-based compensation expense (5,833) (4,439) (11,364) (8,013) Net effect on income $ 17,043 $ 12,970 $ 33,202 $ 23,409
Schedule 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, 2021 365,241 $ 38.61 3.3 $ 14,878 Exercised (41,184) 18.04 Forfeited (4,472) 74.83 Outstanding as of June 30, 2022 319,585 40.75 2.4 3,888 Options exercisable 319,276 $ 40.72 2.4 $ 3,888
Schedule 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, 2021 1,507,424 $ 71.50 359,184 $ 73.64 Granted 1,301,073 74.49 113,269 69.67 Vested (618,310) 70.52 (128,337) 65.81 Forfeited (176,727) 73.01 (57,987) 77.53 Outstanding as of June 30, 2022 2,013,460 73.60 286,129 74.79

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Income (Loss) before Income Tax Provision (Benefit)	The following table includes the Company’s income (loss) before income tax provision, income tax provision and effective tax rate: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands, except for effective tax rate) Income (loss) before income tax provision (benefit) $ (30,101) $ 7,147 $ (42,789) $ 16,494 Income tax provision (benefit) (5,833) 15,516 (3,813) 9,928 Effective tax rate 19.4 % 217.1 % 8.9 % 60.2 %

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 2021 2022 2021 (in thousands, except share and per share data) Net income (loss) attributable to Envestnet, Inc. ( a ) $ (23,285) $ (8,281) $ (37,144) $ 6,665 Weighted-average common shares outstanding: Basic ( b ) 55,203,120 54,440,388 55,054,272 54,325,353 Effect of dilutive shares: Options to purchase common stock — — — 210,381 Unvested restricted stock units — — — 536,186 Warrants — — — 65,026 Diluted ( c ) 55,203,120 54,440,388 55,054,272 55,136,946 Net income (loss) per share attributable to Envestnet, Inc common stock: Basic ( a/b ) $ (0.42) $ (0.15) $ (0.67) $ 0.12 Diluted ( a/c ) $ (0.42) $ (0.15) $ (0.67) $ 0.12
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, 2022 2021 2022 2021 (in thousands) Options to purchase common stock 319,585 405,638 319,585 — Unvested RSUs and PSUs 2,299,589 2,161,056 2,299,589 39,652 Warrants 470,000 470,000 470,000 — Convertible Notes 9,898,549 9,898,549 9,898,549 9,898,549 Total anti-dilutive securities 12,987,723 12,935,243 12,987,723 9,938,201

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 2021 2022 2021 (in thousands) Envestnet Wealth Solutions $ 3,968 $ 32,459 $ 29,237 $ 66,656 Envestnet Data & Analytics (3,705) 1,342 (9,292) 2,631 Nonsegment operating expenses (31,986) (22,870) (58,389) (41,541) Income (loss) from operations (31,723) 10,931 (38,444) 27,746 Other income (expense), net 1,622 (3,784) (4,345) (11,252) Consolidated income (loss) before income tax benefit (30,101) 7,147 (42,789) 16,494 Income tax provision (benefit) (5,833) 15,516 (3,813) 9,928 Consolidated net income (loss) (24,268) (8,369) (38,976) 6,566 Add: Net loss attributable to non-controlling interest 983 88 1,832 99 Consolidated net income (loss) attributable to Envestnet, Inc. $ (23,285) $ (8,281) $ (37,144) $ 6,665
Schedule of Consolidated Total Assets	A summary of consolidated total assets follows: June 30, December 31, 2022 2021 (in thousands) Envestnet Wealth Solutions $ 1,615,651 $ 1,720,779 Envestnet Data & Analytics 571,749 520,403 Consolidated total assets $ 2,187,400 $ 2,241,182

Geographical Information (Table

Geographical Information (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 2021 (in thousands) United States $ 218,397 $ 180,680 India 2,571 2,923 Other 175 271 Total long-lived assets, net $ 221,143 $ 183,874

Organization and Description _2

Organization and Description of Business (Details)	6 Months Ended
	Jun. 30, 2022 segment
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, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 338,115	$ 429,279	$ 369,524
Restricted cash included in prepaid expenses and other current assets	149		149
Total cash, cash equivalents and restricted cash	$ 338,264	$ 429,428	$ 369,673	$ 384,714

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Issuance of notes receivable to equity method investees			$ 4,350	$ 0
Dilution gain			$ 6,934	0
Private Services Company
Disaggregation of Revenue [Line Items]
Ownership percentage	4.40%		4.40%
Revenues	$ 4,300	$ 3,900	$ 9,000	$ 7,700
Due from related parties	$ 2,500		$ 2,500		$ 3,000
Privately Held Company
Disaggregation of Revenue [Line Items]
Ownership percentage	41%		41%
Issuance of notes receivable to equity method investees			$ 2,500
Dilution gain	$ 6,900

Acquisitions and Other Invest_3

Acquisitions and Other Investments - Narrative (Details) $ in Thousands			6 Months Ended		7 Months Ended
	May 31, 2022 USD ($)	May 20, 2022 USD ($) qtr	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Payments to acquire equity method investments			$ 8,000	$ 4,549
401kplans.com Acquisition
Business Acquisition [Line Items]
Cash consideration	$ 14,500
Privately Held Company
Business Acquisition [Line Items]
Ownership percentage acquired		25%
Payments to acquire equity method investments		$ 5,000
Number of quarter lag from actual result | qtr		1
Privately Held Company | Forecast
Business Acquisition [Line Items]
Payments to acquire equity method investments					$ 10,000

Acquisitions and Other Invest_4

Acquisitions and Other Investments - Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2022	May 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 936,054		$ 925,154
401kplans.com Acquisition
Business Acquisition [Line Items]
Tangible assets acquired, net of acquired cash		$ 94
Identifiable intangible assets		3,000
Goodwill		11,378
Total net assets acquired		$ 14,472

Acquisitions and Other Invest_5

Acquisitions and Other Investments - Estimated Intangible Assets Acquired (Details) - Proprietary technology - USD ($) $ in Thousands	May 31, 2022	Jun. 21, 2021
Business Acquisition [Line Items]
Estimated Useful Life in Years		5 years
401kplans.com Acquisition
Business Acquisition [Line Items]
Preliminary Estimate (in thousands)	$ 3,000
Estimated Useful Life in Years	5 years

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid technology	$ 20,928	$ 15,415
Non-income tax receivables	5,703	7,013
Prepaid insurance	5,004	2,234
Escrow for acquisition	2,951	2,951
Other	12,041	15,093
Prepaid expenses and other current assets	$ 46,627	$ 42,706

Property and Equipment, Net - S

Property and Equipment, Net - Schedule Of Property, Plan, Equipment and Depreciation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Cost:
Property and equipment, gross	$ 147,938		$ 147,938		$ 140,279
Less: accumulated depreciation and amortization	(86,546)		(86,546)		(90,064)
Total property and equipment, net	61,392		61,392		50,215
Depreciation and amortization expense	5,450	$ 5,246	$ 11,054	$ 10,889
Computer equipment and software
Property, Plant and Equipment [Line Items]
Estimated Useful Life			3 years
Cost:
Property and equipment, gross	72,638		$ 72,638		72,289
Leasehold improvements
Cost:
Property and equipment, gross	36,707		$ 36,707		43,544
Leased data servers
Property, Plant and Equipment [Line Items]
Estimated Useful Life			3 years
Cost:
Property and equipment, gross	15,108		$ 15,108		590
Office furniture and fixtures
Cost:
Property and equipment, gross	10,789		$ 10,789		12,214
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	9,027		$ 9,027		7,973
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	2,729		$ 2,729		2,729
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) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2022 day	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Number of offices set for closure | day	3
Envestnet Data & Analytics
Property, Plant and Equipment [Line Items]
Property and equipment retired			$ 5.1		$ 7.8
Gain on asset retiremenet		$ 0		$ 0
Envestnet Wealth Solutions
Property, Plant and Equipment [Line Items]
Property and equipment retired		13.6		16.5
Gain on asset retiremenet		3.7		3.7
Lease restructuring cost		13		13
Leased data servers
Property, Plant and Equipment [Line Items]
Gross property and equipment under finance lease		15.1		15.1
Property and equipment under finance lease, accumulated depreciation		$ 2.3		$ 2.3

Internally Developed Software -

Internally Developed Software - Components of Internally Developed Software (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Less: accumulated amortization	$ (109,302)	$ (91,721)
Internally developed software, net	$ 159,751	133,659
Internally developed software
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Internally developed software	$ 269,053	$ 225,380

Internally Developed Software_2

Internally Developed Software - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Research and Development [Abstract]
Amortization expense	$ 9,087	$ 7,262	$ 17,581	$ 13,533

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Changes in the carrying amount of the Company's goodwill
Balance at period start	$ 925,154
401kplans.com acquisition	11,378
Foreign currency translation	(478)
Balance at period end	936,054
Envestnet Wealth Solutions
Changes in the carrying amount of the Company's goodwill
Balance at period start	621,876
401kplans.com acquisition	11,378
Foreign currency translation	0
Balance at period end	633,254
Envestnet Data & Analytics
Changes in the carrying amount of the Company's goodwill
Balance at period start	303,278
401kplans.com acquisition	0
Foreign currency translation	(478)
Balance at period end	$ 302,800

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Narrative (Details) - USD ($) $ in Thousands			1 Months Ended	6 Months Ended
	Apr. 01, 2022	Jun. 21, 2021	Feb. 28, 2022	Jun. 30, 2022	Jun. 30, 2021
Asset Acquisition [Line Items]
Payments to acquire intangible assets				$ 15,000	$ 25,517
Proprietary technology
Asset Acquisition [Line Items]
Consideration transferred	$ 9,000	$ 18,000
Payments to acquire intangible assets	$ 4,000	$ 3,000	$ 15,000
Amortization period		5 years
Earn-out payment		$ 10,000
Target metrics term		5 years

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 730,104	$ 709,104
Accumulated Amortization	(343,873)	(308,708)
Net Carrying Amount	386,231	400,396
Customer lists
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	590,080	590,080
Accumulated Amortization	(263,212)	(241,189)
Net Carrying Amount	326,868	348,891
Proprietary technologies
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	106,324	85,324
Accumulated Amortization	(53,682)	(43,004)
Net Carrying Amount	52,642	42,320
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	33,700	33,700
Accumulated Amortization	(26,979)	(24,515)
Net Carrying Amount	$ 6,721	$ 9,185

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets, Net - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 17,645	$ 17,502	$ 35,165	$ 33,980

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued investment manager fees	$ 97,052	$ 95,858
Accrued compensation and related taxes	67,761	97,523
Accrued professional services	8,894	7,746
Accrued technology	6,667	8,951
Non-income tax payables	4,053	4,907
Other accrued expenses	13,803	10,174
Total accrued expenses and other liabilities	$ 198,230	$ 225,159

Debt - Summary of Outstanding D

Debt - Summary of Outstanding Debt (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Aug. 31, 2020	May 31, 2018
Convertible Notes due 2023
Debt Instrument [Line Items]
Face amount				$ 345,000,000
Convertible Notes due 2025
Debt Instrument [Line Items]
Face amount			$ 517,500,000
Convertible Notes Payable | Convertible Notes due 2023
Debt Instrument [Line Items]
Face amount	$ 345,000,000	$ 345,000,000
Unamortized issuance costs on convertible notes	(1,943,000)	(2,979,000)
Convertible notes carrying value	343,057,000	342,021,000
Convertible Notes Payable | Convertible Notes due 2025
Debt Instrument [Line Items]
Face amount	517,500,000	517,500,000
Unamortized issuance costs on convertible notes	(9,218,000)	(10,659,000)
Convertible notes carrying value	508,282,000	506,841,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Revolving credit facility balance	$ 0	$ 0

Debt - Third Credit Agreement (

Debt - Third Credit Agreement (Details) - Third Amended Credit Agreement - USD ($)	Feb. 04, 2022	Jun. 30, 2022	Dec. 31, 2021
Other Nonoperating Expense
Debt Instrument [Line Items]
Write off of deferred debt issuance costs	$ 600,000
Other Noncurrent Assets
Debt Instrument [Line Items]
Issuance costs	$ 1,900,000
Debt issuance costs		$ 2,500,000
Prepaid Expenses
Debt Instrument [Line Items]
Debt issuance costs		700,000
Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.25%
Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.30%
Base Rate | Minimum
Debt Instrument [Line Items]
Spread on variable rate basis (as a percent)	0.25%
Base Rate | Maximum
Debt Instrument [Line Items]
Spread on variable rate basis (as a percent)	1.75%
SOFR | Minimum
Debt Instrument [Line Items]
Spread on variable rate basis (as a percent)	1.25%
SOFR | Maximum
Debt Instrument [Line Items]
Spread on variable rate basis (as a percent)	2.75%
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility outstanding		0	$ 0
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Credit facility amount	$ 500,000,000
Available to borrow amount		$ 500,000,000
Letter of Credit | Line of Credit
Debt Instrument [Line Items]
Credit facility amount	$ 20,000,000

Debt - Convertible Notes due 20

Debt - Convertible Notes due 2023 and 2025 (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Aug. 31, 2020	May 31, 2018
Convertible Notes due 2023
Debt Instrument [Line Items]
Face amount						$ 345,000,000
Interest rate						1.75%
Effective interest rate	2.40%	2.40%	2.40%	2.40%
Convertible Notes due 2025
Debt Instrument [Line Items]
Face amount					$ 517,500,000
Interest rate					0.75%
Effective interest rate	1.30%	1.30%	1.30%	1.30%

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Debt Disclosure [Abstract]
Coupon interest	$ 2,480	$ 2,480	$ 4,960	$ 4,960
Amortization of issuance costs	1,415	1,429	3,474	2,852
Undrawn and other fees	317	316	631	628
Total interest expense	$ 4,212	$ 4,225	$ 9,065	$ 8,440

Debt - Interest Expense - Narra

Debt - Interest Expense - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Debt Instrument [Line Items]
Interest expense debt	$ 4,212	$ 4,225	$ 9,065	$ 8,440
Interest expense debt excluding amortization	2,480	2,480	4,960	4,960
Convertible Notes Payable
Debt Instrument [Line Items]
Interest expense debt	3,700	3,700	7,400	7,400
Interest expense debt excluding amortization	2,500	2,500	5,000	5,000
Amortization of debt discount and issuance costs	$ 1,200	$ 1,200	$ 2,400	$ 2,400

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - Recurring Basis - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Level I
Assets:
Assets to fund deferred compensation liability	$ 0	$ 0
Total assets	1,819	2,684
Liabilities:
Contingent consideration		0
Deferred compensation liability	7,947	10,418
Total liabilities	7,947	10,418
Level I | Money Market Funds
Assets:
Money market funds	1,819	2,684
Level II
Assets:
Assets to fund deferred compensation liability	0	0
Total assets	0	0
Liabilities:
Contingent consideration		0
Deferred compensation liability	0	0
Total liabilities	0	0
Level II | Money Market Funds
Assets:
Money market funds	0	0
Level III
Assets:
Assets to fund deferred compensation liability	10,107	11,140
Total assets	10,107	11,140
Liabilities:
Contingent consideration		743
Deferred compensation liability	0	0
Total liabilities	0	743
Level III | Money Market Funds
Assets:
Money market funds	0	0
Fair Value
Assets:
Assets to fund deferred compensation liability	10,107	11,140
Total assets	11,926	13,824
Liabilities:
Contingent consideration		743
Deferred compensation liability	7,947	10,418
Total liabilities	7,947	11,161
Fair Value | Money Market Funds
Assets:
Money market funds	$ 1,819	$ 2,684

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Fair Value Measurements
Fair market value adjustment to contingent consideration liability	$ 0	$ (140)
Convertible Notes due 2023
Fair Value Measurements
Debt instrument, fair value disclosure	349,800		$ 439,900
Convertible Notes due 2023 | Carrying Value
Fair Value Measurements
Convertible notes	343,100		342,000
Convertible Notes due 2025
Fair Value Measurements
Debt instrument, fair value disclosure	451,500		526,100
Convertible Notes due 2025 | Carrying Value
Fair Value Measurements
Convertible notes	$ 508,300		506,800
Private A I Company Acquisition
Fair Value Measurements
Fair market value adjustment to contingent consideration liability			$ 700

Fair Value Measurements - Level

Fair Value Measurements - Level III (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Fair Value of Assets to Fund Deferred Compensation Liability
Beginning balance	$ 11,140
Contributions	649
Fair value adjustments and fees	(1,682)
Ending balance	$ 10,107

Revenue and Cost of Revenues -

Revenue and Cost of Revenues - Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Total revenues	$ 318,852	$ 288,738	$ 640,215	$ 563,843
United States
Revenues:
Total revenues	314,271	283,589	631,000	553,661
International
Revenues:
Total revenues	4,581	5,149	9,215	10,182
Total recurring revenues
Revenues:
Total revenues	310,092	282,579	627,543	551,783
Asset-based
Revenues:
Total revenues	191,972	170,075	394,689	329,450
Subscription-based
Revenues:
Total revenues	118,120	112,504	232,854	222,333
Professional services and other revenues
Revenues:
Total revenues	8,760	6,159	12,672	12,060
Envestnet Wealth Solutions
Revenues:
Total revenues	272,000	240,297	545,568	466,707
Envestnet Wealth Solutions | Total recurring revenues
Revenues:
Total revenues	265,540	236,738	536,794	460,125
Envestnet Wealth Solutions | Asset-based
Revenues:
Total revenues	191,972	170,075	394,689	329,450
Envestnet Wealth Solutions | Subscription-based
Revenues:
Total revenues	73,568	66,663	142,105	130,675
Envestnet Wealth Solutions | Professional services and other revenues
Revenues:
Total revenues	6,460	3,559	8,774	6,582
Envestnet Data & Analytics
Revenues:
Total revenues	46,852	48,441	94,647	97,136
Envestnet Data & Analytics | Total recurring revenues
Revenues:
Total revenues	44,552	45,841	90,749	91,658
Envestnet Data & Analytics | Asset-based
Revenues:
Total revenues	0	0	0	0
Envestnet Data & Analytics | Subscription-based
Revenues:
Total revenues	44,552	45,841	90,749	91,658
Envestnet Data & Analytics | Professional services and other revenues
Revenues:
Total revenues	$ 2,300	$ 2,600	$ 3,898	$ 5,478

Revenue and Cost of Revenues _2

Revenue and Cost of Revenues - Obligation (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Remaining Performance Obligations
Remaining performance obligations	$ 559,984
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Remaining Performance Obligations
Remaining performance obligations	$ 137,741
Revenue recognition period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Remaining Performance Obligations
Remaining performance obligations	$ 196,180
Revenue recognition period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Remaining Performance Obligations
Remaining performance obligations	$ 114,774
Revenue recognition period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Remaining Performance Obligations
Remaining performance obligations	$ 67,070
Revenue recognition period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Remaining Performance Obligations
Remaining performance obligations	$ 35,991
Revenue recognition period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Remaining Performance Obligations
Remaining performance obligations	$ 8,228
Revenue recognition period

Revenue and Cost of Revenues _3

Revenue and Cost of Revenues - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Increase in contract with customer, liability			$ 4.3
Recognized deferred revenue	$ 10.2	$ 9.5	26.1	$ 26.3
Deferred sales incentive compensation	11.4		11.4		$ 11.8
Amortization expense for the deferred sales incentive compensation	$ 1.1	$ 1.1	2.2	2.1
Impairment loss for capitalized costs			$ 0	$ 0

Revenue and Cost of Revenues _4

Revenue and Cost of Revenues - Cost of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Product Information [Line Items]
Cost of revenues	$ 126,482	$ 100,494	$ 251,764	$ 193,363
Asset-based
Product Information [Line Items]
Cost of revenues	112,301	93,341	229,729	179,531
Subscription-based
Product Information [Line Items]
Cost of revenues	7,241	7,027	15,052	13,631
Professional services and other
Product Information [Line Items]
Cost of revenues	$ 6,940	$ 126	$ 6,983	$ 201

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-Based Payment Arrangement [Abstract]
Maximum number of shares available for future issuance (in shares)	2,537,157
Statutory rate (as a percent)	25.50%	25.50%

Stock-Based Compensation - Expe

Stock-Based Compensation - Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-Based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 22,876	$ 17,409	$ 44,566	$ 31,422
Tax effect on stock-based compensation expense	(5,833)	(4,439)	(11,364)	(8,013)
Net effect on income	$ 17,043	$ 12,970	$ 33,202	$ 23,409

Stock-Based Compensation - Opti

Stock-Based Compensation - Options (Details) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Options
Outstanding at the beginning of the period (in shares) | shares	365,241
Exercised (in shares) | shares	(41,184)
Forfeited (in shares) | shares	(4,472)
Outstanding at the end of the period (in shares) | shares	319,585	365,241
Options exercisable (in shares) | shares	319,276
Weighted-Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 38.61
Exercised (in dollars per share)	18.04
Forfeited (in dollars per share)	74.83
Outstanding at the end of the period (in dollars per share)	40.75	$ 38.61
Weighted-average exercise price, options exercisable (in dollars per share)	$ 40.72
Weighted-Average Remaining Contractual Life
Outstanding	2 years 4 months 24 days	3 years 3 months 18 days
Options exercisable	2 years 4 months 24 days
Aggregate Intrinsic Value
Outstanding (in dollars) | $	$ 3,888	$ 14,878
Options exercisable (in dollars) | $	$ 3,888
Options
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Unrecognized compensation expense weighted-average recognition period	1 year 1 month 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)	$ 15.34
Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Exercise prices of stock options outstanding (in dollars per share)	$ 74.83

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Units (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares
RSUs
Number of Shares
Balance at the beginning of the period (in shares) | shares	1,507,424
Granted (in shares) | shares	1,301,073
Vested (in shares) | shares	(618,310)
Forfeited (in shares) | shares	(176,727)
Balance at the end of the period (in shares) | shares	2,013,460
Weighted- Average Grant Date Fair Value per Share
Balance at the beginning of the period (in dollars per share) | $ / shares	$ 71.50
Granted (in dollars per share) | $ / shares	74.49
Vested (in dollars per share) | $ / shares	70.52
Forfeited (in dollars per share) | $ / shares	73.01
Balance at the end of the period (in dollars per share) | $ / shares	$ 73.60
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Unrecognized compensation expense related to shares | $	$ 129.2
Unrecognized compensation expense weighted-average recognition period	2 years 1 month 6 days
PSUs
Stock-Based compensation
Vesting period	3 years
Number of Shares
Balance at the beginning of the period (in shares) | shares	359,184
Granted (in shares) | shares	113,269
Vested (in shares) | shares	(128,337)
Forfeited (in shares) | shares	(57,987)
Balance at the end of the period (in shares) | shares	286,129
Weighted- Average Grant Date Fair Value per Share
Balance at the beginning of the period (in dollars per share) | $ / shares	$ 73.64
Granted (in dollars per share) | $ / shares	69.67
Vested (in dollars per share) | $ / shares	65.81
Forfeited (in dollars per share) | $ / shares	77.53
Balance at the end of the period (in dollars per share) | $ / shares	$ 74.79
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Unrecognized compensation expense related to shares | $	$ 11
Unrecognized compensation expense weighted-average recognition period	1 year 10 months 24 days
PSUs | Minimum
Stock-Based compensation
Number of shares to be vest upon each evaluation date, percentage	0%
PSUs | Maximum
Stock-Based compensation
Number of shares to be vest upon each evaluation date, percentage	150%

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income (loss) before income tax provision (benefit)	$ (30,101)	$ 7,147	$ (42,789)	$ 16,494
Income tax provision (benefit)	$ (5,833)	$ 15,516	$ (3,813)	$ 9,928
Effective tax rate	19.40%	217.10%	8.90%	60.20%

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss) attributable to Envestnet, Inc.	$ (23,285)	$ (8,281)	$ (37,144)	$ 6,665
Weighted-average common shares outstanding:
Basic (in shares)	55,203,120	54,440,388	55,054,272	54,325,353
Effect of dilutive shares:
Warrants (in shares)	0	0	0	65,026
Diluted (in shares)	55,203,120	54,440,388	55,054,272	55,136,946
Net income (loss) per share attributable to Envestnet, Inc common stock:
Basic (in dollars per share)	$ (0.42)	$ (0.15)	$ (0.67)	$ 0.12
Diluted (in dollars per share)	$ (0.42)	$ (0.15)	$ (0.67)	$ 0.12
Options to purchase common stock
Effect of dilutive shares:
Options and unvested restricted stock units to purchase common stock (in shares)	0	0	0	210,381
Unvested restricted stock units
Effect of dilutive shares:
Options and unvested restricted stock units to purchase common stock (in shares)	0	0	0	536,186

Net Income (Loss) Per Share - A

Net Income (Loss) Per Share - Antidilutive Securities (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
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)	12,987,723	12,935,243	12,987,723	9,938,201
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)	319,585	405,638	319,585	0
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)	2,299,589	2,161,056	2,299,589	39,652
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	470,000	0
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	9,898,549	9,898,549	9,898,549

Segment Information - Reconcili

Segment Information - Reconciliation of Income (Loss) From Operations (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Loss from continuing operations	$ (31,723)		$ 10,931		$ (38,444)	$ 27,746
Nonsegment operating expenses	(350,575)		(277,807)		(678,659)	(536,097)
Other income (expense), net	1,622		(3,784)		(4,345)	(11,252)
Income (loss) before income tax provision (benefit)	(30,101)		7,147		(42,789)	16,494
Income tax provision (benefit)	(5,833)		15,516		(3,813)	9,928
Net income (loss)	(24,268)	$ (14,708)	(8,369)	$ 14,935	(38,976)	6,566
Add: Net loss attributable to non-controlling interest	983		88		1,832	99
Net income (loss) attributable to Envestnet, Inc.	(23,285)		(8,281)		(37,144)	6,665
Operating Segments | Envestnet Wealth Solutions
Segment Reporting Information [Line Items]
Loss from continuing operations	3,968		32,459		29,237	66,656
Operating Segments | Envestnet Data & Analytics
Segment Reporting Information [Line Items]
Loss from continuing operations	(3,705)		1,342		(9,292)	2,631
Nonsegment
Segment Reporting Information [Line Items]
Nonsegment operating expenses	$ (31,986)		$ (22,870)		$ (58,389)	$ (41,541)

Segment Information - Summary o

Segment Information - Summary of Consolidated Total Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Assets	$ 2,187,400	$ 2,241,182
Envestnet Wealth Solutions
Segment Reporting Information [Line Items]
Assets	1,615,651	1,720,779
Envestnet Data & Analytics
Segment Reporting Information [Line Items]
Assets	$ 571,749	$ 520,403

Geographical Information (Detai

Geographical Information (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets, net	$ 221,143	$ 183,874
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets, net	218,397	180,680
India
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets, net	2,571	2,923
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets, net	$ 175	$ 271

Commitments (Details)

Commitments (Details) $ in Thousands					1 Months Ended	6 Months Ended
	Apr. 01, 2022 USD ($)	Jul. 19, 2021 claim	Jun. 21, 2021 USD ($)	Oct. 21, 2020 plaintiffs	Feb. 28, 2022 USD ($)	Jun. 30, 2022 USD ($) claim	Jun. 30, 2021 USD ($)
Other Commitments [Line Items]
Number of previous claims experienced | claim						0
Payments to acquire intangible assets						$ 15,000	$ 25,517
Case No. 3:20-cv-05991-SK
Other Commitments [Line Items]
Number of plaintiffs | plaintiffs				9
Claims dismissed | claim		2
Proprietary technology
Other Commitments [Line Items]
Consideration transferred	$ 9,000		$ 18,000
Payments to acquire intangible assets	$ 4,000		$ 3,000		$ 15,000

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands		1 Months Ended	6 Months Ended		12 Months Ended
	Jul. 01, 2022 USD ($)	Jul. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2019 executive
Subsequent Event [Line Items]
Acquisitions of businesses, net of cash acquired			$ 14,472	$ 33,143
Share repurchases			$ 9,235	$ 2,097
P I Etech Acquisition
Subsequent Event [Line Items]
Number of executives granted membership interests | executive					2
Subsequent Event | Truelytics
Subsequent Event [Line Items]
Acquisitions of businesses, net of cash acquired	$ 21,000
Subsequent Event | Redi2 Technologies
Subsequent Event [Line Items]
Cash consideration	70,000
Subsequent Event | Redi2 Technologies | Certain Executives
Subsequent Event [Line Items]
Contingent consideration (up to)	$ 20,000
Subsequent Event | P I Etech Acquisition | Certain Executives
Subsequent Event [Line Items]
Share repurchases		$ 10,000