Enfusion (ENFN) 10-K 12 Mar 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Mar. 08, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-40949
Entity Registrant Name	ENFUSION, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-1268462
Entity Address State Or Province	IL
Entity Address, Address Line One	125 South Clark Street
Entity Address, Address Line Two	Suite 750
Entity Address, City or Town	Chicago
Entity Address, Postal Zip Code	60603
City Area Code	312
Local Phone Number	253-9800
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Public Float			$ 438.2
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Title of 12(b) Security	Class A common stock, par value $0.001 per share
Trading Symbol	ENFN
Security Exchange Name	NYSE
Entity Central Index Key	0001868912
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	Chicago, Illinois
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		128,069,912
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		89,871,145
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		38,198,767

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 35,604	$ 62,545
Accounts receivable, net	28,069	25,855
Prepaid expenses	5,009	6,105
Other current assets	1,170	2,303
Total current assets	69,852	96,808
Property, equipment, and software, net	18,314	15,759
Right-of-use-assets, net	14,304	6,732
Other assets	6,502	4,484
Total assets	108,972	123,783
Current liabilities:
Accounts payable	2,212	1,685
Accrued expenses and other current liabilities	13,841	11,665
Current portion of lease liabilities	4,256	4,030
Total current liabilities	20,309	17,380
Lease liabilities, net of current portion	11,181	2,959
Total liabilities	31,490	20,339
Commitment and contingencies (Note 8)
Stockholders' Equity:
Preferred stock, $0.001 par value; 100,000 shares authorized, no shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively
Additional paid-in capital	226,877	244,260
Accumulated deficit	(172,932)	(178,863)
Accumulated other comprehensive loss	(406)	(504)
Total stockholders' equity attributable to Enfusion, Inc.	53,666	65,007
Non-controlling interests	23,816	38,437
Total stockholders' equity	77,482	103,444
Total liabilities and stockholders' equity	108,972	123,783
Common Class A
Stockholders' Equity:
Common stock	88	71
Common Class B
Stockholders' Equity:
Common stock	$ 39	$ 43

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Preferred stock par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock outstanding	0	0
Common Class A
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	88,332,000	70,860,000
Common stock, shares outstanding	88,332,000	70,860,000
Common Class B
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	39,199,000	43,199,000
Common stock, shares outstanding	39,199,000	43,199,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
REVENUES:
Total revenues	$ 174,535	$ 150,349	$ 111,700
COST OF REVENUES:
Total cost of revenues	57,641	47,100	31,845
Gross profit	116,894	103,249	79,855
OPERATING EXPENSES:
General and administrative	64,635	68,764	150,614
Sales and marketing	20,418	29,286	51,725
Technology and development	19,893	17,163	153,400
Total operating expenses	104,946	115,213	355,739
Income (loss) from operations	11,948	(11,964)	(275,884)
NON-OPERATING INCOME (EXPENSE):
Payment to related party	(1,501)
Interest income (expense), net	1,641	413	(4,594)
Other expense, net	(604)	(638)	(1,185)
Total non-operating income (expense)	(464)	(225)	(5,779)
Income (loss) before income taxes	11,484	(12,189)	(281,663)
Income taxes	2,231	1,074	579
Net income (loss)	9,253	(13,263)	(282,242)
Net income (loss) attributable to non-controlling interests	3,228	(5,609)	(123,925)
Net income (loss) attributable to Enfusion, Inc.	$ 6,025	$ (7,654)	$ (158,317)
Net income (loss) per Class A common shares attributable to Enfusion, Inc.:
Net income (loss) per share of Class A common stock--Basic	$ 0.07	$ (0.10)	$ (2.26)
Net income (loss) per share of Class A common stock--Diluted	$ 0.07	$ (0.10)	$ (2.26)
Weighted Average number of Class A common shares outstanding:
Weighted Average number of Class A common shares outstanding, Basic	88,202	85,393	83,045
Weighted Average number of Class A common shares outstanding, Diluted	129,429	85,393	83,045
Platform subscriptions
REVENUES:
Total revenues	$ 161,519	$ 138,868	$ 103,259
COST OF REVENUES:
Total cost of revenues	50,702	40,017	27,195
Managed services
REVENUES:
Total revenues	11,773	9,821	7,119
COST OF REVENUES:
Total cost of revenues	6,514	6,692	4,425
Other
REVENUES:
Total revenues	1,243	1,660	1,322
COST OF REVENUES:
Total cost of revenues	$ 425	$ 391	$ 225

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Consolidated Statements of Comprehensive Income (Loss)
Net income (loss)	$ 9,253	$ (13,263)	$ (282,242)
Other comprehensive income (loss), net of income tax:
Foreign currency translation income (loss)	143	(327)	(90)
Total other comprehensive income (loss)	9,396	(13,590)	(282,332)
Comprehensive income (loss) attributable to non-controlling interests	3,273	(5,757)	(123,902)
Total comprehensive income (loss) attributable to Enfusion, Inc.	$ 6,123	$ (7,833)	$ (158,430)

Consolidated Statements of Pref

Consolidated Statements of Preferred Units, Stockholders' Equity and Members' Deficit - USD ($) shares in Thousands, $ in Thousands	Preferred Units	Members' Equity	Common Stock Common Class A	Common Stock Common Class B	Additional Paid-in Capital	Accumulated Deficit Cumulative impact of adopting ASU 2016-13	Accumulated Deficit	Accumulated Other Comprehensive Loss	Non-Controlling Interest Cumulative impact of adopting ASU 2016-13	Non-Controlling Interest	Cumulative impact of adopting ASU 2016-13	Total
Balance at beginning of period at Dec. 31, 2020	$ 165,515
Balance at beginning of period (in shares) at Dec. 31, 2020	54
Preferred Units
Net income (loss)	$ 6,814
Net income (loss)		$ 6,078										$ 6,078
Distributions to members	(1,807)
Balance at end of period at Oct. 20, 2021	$ 170,522
Balance at end of period (in shares) at Oct. 20, 2021	54
Balance at beginning of period at Dec. 31, 2020		$ (233,347)
Balance at beginning of period (Shares) at Dec. 31, 2020		48
Balance at end of period at Oct. 20, 2021		$ (228,745)
Balance at end of period (Shares) at Oct. 20, 2021		48
Balance at Beginning of period at Dec. 31, 2020								$ (212)				(233,559)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distributions to members		$ (1,476)										(1,476)
Foreign currency translation								(145)				(145)
Balance at end of period at Oct. 20, 2021								(357)				(229,102)
Balance at beginning of period at Dec. 31, 2020	$ 165,515
Balance at beginning of period (in shares) at Dec. 31, 2020	54
Balance at beginning of period at Dec. 31, 2020		$ (233,347)
Balance at beginning of period (Shares) at Dec. 31, 2020		48
Balance at Beginning of period at Dec. 31, 2020								(212)				(233,559)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)												(282,242)
Balance at end of period at Dec. 31, 2021			$ 66	$ 47	$ 226,717		$ (171,209)	(325)		$ 42,145		97,441
Balance at end of period (in shares) at Dec. 31, 2021			65,583	47,471
Balance at beginning of period at Oct. 20, 2021	$ 170,522
Balance at beginning of period (in shares) at Oct. 20, 2021	54
Preferred Units
Net income (loss)							(171,209)			(123,925)		(295,134)
Effect of the Reorganization Transactions	$ (170,522)
Effect of the Reorganization Transactions (Shares)	(54)	(48)
Balance at beginning of period at Oct. 20, 2021		$ (228,745)
Balance at beginning of period (Shares) at Oct. 20, 2021		48
Balance at Beginning of period at Oct. 20, 2021								(357)				(229,102)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation					161,986					117,250		279,236
Effect of the Reorganization		$ 228,745	$ 49	$ 53	(27,941)					(30,384)		170,522
Effect of the Reorganization (in shares)			48,744	52,998
Issuance of Class A common stock in the IPO, net of issuance costs			$ 17		143,628					116,065		259,710
Issuance of Class A common stock in the IPO, net of issuance costs (in shares)			16,839
Purchase of Pre-IPO common unit holders and retirement of Class B common shares				$ (6)	(50,956)					(36,884)		(87,846)
Purchase of Pre-IPO common unit holders and retirement of Class B common shares (in shares)				(5,527)
Foreign currency translation								32		23		55
Balance at end of period at Dec. 31, 2021			$ 66	$ 47	226,717		(171,209)	(325)		42,145		97,441
Balance at end of period (in shares) at Dec. 31, 2021			65,583	47,471
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)							(7,654)			(5,609)		(13,263)
Stock-based compensation					15,043					10,550		25,593
Share exchange			$ 4	$ (4)	5,310					(5,310)
Share exchange (in shares)			4,272	(4,272)
Issuance of IPO vested Class A common stock and share-based awards			$ 2		(2)
Issuance of IPO vested Class A common stock and share-based awards (in shares)			1,594
Tax withholdings related to net share settlements of stock-based compensation awards			$ (1)		(4,767)					(3,191)		(7,959)
Tax withholdings related to net share settlements of stock-based compensation awards (in shares)			(589)
Foreign currency translation								(179)		(148)		(327)
Other					1,959							1,959
Balance at end of period at Dec. 31, 2022			$ 71	$ 43	244,260		(178,863)	(504)		38,437		103,444
Balance at end of period (in shares) at Dec. 31, 2022			70,860	43,199
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)							6,025			3,228		9,253
Stock-based compensation					5,628					2,596		8,224
Share exchange			$ 4	$ (4)	2,559					(2,559)
Share exchange (in shares)			4,000	(4,000)
Issuance of IPO vested Class A common stock and share-based awards			$ 11		1,729					(1,740)
Issuance of IPO vested Class A common stock and share-based awards (in shares)			11,272
Issuance of Class A common stock in the IPO, net of issuance costs			$ 2		12,401					4,919		17,322
Issuance of Class A common stock, net of issuance costs (in shares)			2,200
Tax withholdings related to net share settlements of stock-based compensation awards					(39,497)					(20,950)		(60,447)
Foreign currency translation								98		45		143
Other					(203)					(105)		(308)
Balance at end of period at Dec. 31, 2023			$ 88	$ 39	$ 226,877	$ (94)	$ (172,932)	$ (406)	$ (55)	$ 23,816	$ (149)	$ 77,482
Balance at end of period (in shares) at Dec. 31, 2023			88,332	39,199

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ 9,253	$ (13,263)	$ (282,242)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Non-cash lease expense	6,882	5,351
Depreciation and amortization	9,987	6,344	3,975
Provision for credit losses	1,319	1,399	1,450
Amortization of debt-related costs	92	26	222
Loss on extinguishment of debt	78		1,215
Stock-based compensation expense	7,458	24,993	289,803
Change in operating assets and liabilities:
Accounts receivable	(3,679)	(9,031)	(7,493)
Prepaid expenses and other assets	(1,749)	(1,767)	(6,477)
Accounts payable	365	(843)	2,044
Accrued compensation	(729)	7,087	(2,081)
Accrued expenses and other liabilities	2,359	(1,029)	(734)
Lease liabilities	(6,002)	(5,111)
Net cash provided by (used in) operating activities	25,634	14,156	(318)
Cash flows from investing activities:
Purchases of property and equipment	(4,453)	(3,985)	(6,096)
Capitalization of software development costs	(5,218)	(3,946)	(1,918)
Net cash used in investing activities	(9,671)	(7,931)	(8,014)
Cash flows from financing activities:
Payment of debt issuance costs	(1,151)
Settlement of tax receivable acquired in reorganization transactions	1,501
Issuance of Class A common stock, net of issuance costs	17,322		260,545
Payment of withholding taxes on stock-based compensation	(60,447)	(7,959)	(10,567)
Repayment of term loan			(100,000)
Payment of member distributions			(3,283)
Purchases of common units from Pre-IPO common unit holders			(87,846)
Other financing activities	(308)
Net cash (used in) provided by financing activities	(43,083)	(7,959)	58,849
Effect of exchange rate changes on cash and cash equivalents	179	(86)	(90)
Net (decrease) increase in cash and cash equivalents	(26,941)	(1,820)	50,427
Cash and cash equivalents, beginning of period	62,545	64,365	13,938
Cash and cash equivalents, end of period	35,604	62,545	64,365
Supplemental disclosure of cash flow information:
Income taxes paid in cash	1,843	1,582	407
Interest paid in cash			4,813
Supplemental disclosure of non-cash activities:
Right-of-use assets obtained in exchange for lease liabilities	13,893	9,514
Capitalized stock-based compensation expense	766	600
Accrued property, equipment, and software, net	$ 608
Effect of the Reorganization Transactions			58,223
IPO costs included in accrued expenses and other liabilities			$ 835
Other		$ 1,959

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2023
Organization and Description of Business
Organization and Description of Business	Note 1 Organization and Description of Business Enfusion is a leading provider of cloud-based order and execution management, portfolio management and risk systems. Enfusion’s clients include large global hedge fund managers, institutional asset managers, family offices and other institutional investors. Enfusion provides its clients with innovative real-time performance, risk calculations, and accounting capabilities for some of the most sophisticated financial products. The Company is headquartered in Chicago, Illinois and has offices in New York City, London, Dublin, Hong Kong, Singapore, Mumbai, Bengaluru, and Sydney. Enfusion, Inc. was incorporated in Delaware on June 11, 2021 for the purpose of facilitating an initial public offering, which was completed on October 25, 2021, and other related transactions in order to carry on the business of Enfusion Ltd. LLC. Enfusion, Inc. is a holding company and, through its control over the managing member of Enfusion Ltd. LLC, operates and controls Enfusion Ltd. LLC. Enfusion, Inc.’s principal asset consists of Common Units. Enfusion, Inc. has three wholly-owned subsidiaries: Enfusion US 1, Inc., Enfusion US 2, Inc., and Enfusion US 3, Inc.; as well as a controlling financial interest in Enfusion Ltd. LLC and its majority-owned subsidiary, Enfusion Softech India Private Limited, as well as the wholly-owned subsidiaries of Enfusion Ltd. LLC: Enfusion Systems UK Ltd, Enfusion HK Limited, Enfusion Software Limited, Enfusion (Singapore) Pte. Ltd., Enfusion do Brasil Tecnologia da Informacão Ltd, Enfusion (Australia) Pty. Ltd., Enfusion (Shanghai) Co., and Enfusion Tech Ltd. Enfusion, Inc., through its control over the managing member of Enfusion Ltd. LLC, manages and operates Enfusion Ltd. LLC’s business and controls its strategic decisions and day-to-day operations. As such, Enfusion, Inc. consolidates the financial results of Enfusion Ltd. LLC, and a portion of Enfusion, Inc.’s net income (loss) is allocated to non-controlling interests to reflect the entitlement to a portion of Enfusion Ltd. LLC’s net income (loss) by the other common unitholders of Enfusion, Ltd. LLC. As of December 31, 2023, Enfusion, Inc. owned 69.3% of Enfusion Ltd. LLC.

Basis of Presentation

Basis of Presentation	12 Months Ended
	Dec. 31, 2023
Basis of Presentation
Basis of Presentation	Note 2 Basis of Presentation Principles of Consolidation These statements have been prepared in conformity with U.S. GAAP. All intercompany balances and transactions are eliminated in consolidation. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. We base our estimates on historical experience and various other assumptions believed to be reasonable. These estimates and assumptions include, but are not limited to, judgments affecting the measurement of the payable to related parties pursuant to the Tax Receivable Agreement, amortization periods, certain assumptions used in the valuation of stock-based compensation, assessment of the allowance for credit losses, and accounting for income taxes and assessment of valuation allowances. Actual results could differ from those estimates. The Company’s results can also be affected by economic, political, legislative, regulatory, and legal actions, including but not limited to health epidemics and pandemics and the resulting economic impact. Economic conditions, such as recessionary trends, inflation, interest and monetary exchange rates, and government fiscal policies can have a significant effect on operations. While the Company maintains reserves for anticipated liabilities and carries various levels of insurance, the Company could be affected by civil, criminal, regulatory, or administrative actions, claims, or proceedings. Reclassifications Certain amounts in prior periods have been reclassified to conform with the current period presentation. Segments Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer is the CODM. While the Company operates in multiple countries, the Company’s business operates as one operating segment because most of the Company’s service offerings are delivered and supported on a global basis, the Company’s service offerings are deployed in a nearly identical way, and the Company’s CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 3 Summary of Significant Accounting Policies The significant accounting policies of the Company and its subsidiaries are summarized below. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an initial maturity date of three months or less to be cash equivalents. Funds held as investments in money market funds are included within cash and cash equivalents. As of December 31, 2023 and 2022, respectively, the Company had $30.0 million and $50.0 million, respectively, invested in money market accounts. Accounts Receivable Accounts receivable includes billed and unbilled receivables, net of allowances, including the allowance for credit losses. Billed accounts receivable are initially recorded upon the invoicing to clients with payment due within 30 days. Unbilled accounts receivable represent revenue recognized on contracts for which the timing of invoicing to clients differs from the timing of revenue recognition. Unbilled accounts receivable was $2.4 million and $2.0 million as of December 31, 2023 and 2022, respectively. Contract assets included in unbilled accounts receivable were $1.7 million and $1.5 million as of December 31, 2023 and 2022, respectively. The Company maintains an allowance for credit losses at an amount estimated to be sufficient to provide adequate protection against losses resulting from extending credit to its clients. The Company regularly determines the adequacy of the allowance based on its assessment of the collectability of the accounts receivable by considering the age of each outstanding invoice, the collection history of each client, an evaluation of the current expected risk of credit loss, and other client-specific factors with a bearing on receivables. The Company assesses collectability by reviewing accounts receivable on an aggregated basis where similar characteristics exist and on an individual basis for specific clients with historical collectability issues or known financial difficulties. Increases to the allowance are recognized as a charge to credit losses included in general and administrative expenses in the consolidated statements of operations. Accounts receivable deemed uncollectible are charged against the allowance for credit losses when identified. The Company's allowance for credit losses is as follows (in thousands): ​ ​ ​ ​ Balance at December 31, 2021 ​ $ 791 Changes to the provision ​ 1,158 Accounts written off, net of recoveries ​ ​ (724) Balance at December 31, 2022 ​ ​ 1,225 Adoption of ASU 2016-13 ​ ​ 149 Changes to the provision ​ ​ 705 Accounts written off, net of recoveries ​ ​ (987) Balance at December 31, 2023 ​ $ 1,092 ​ Leases The Company determines at contract inception if the contract is or contains a lease. The Company records right-of-use (“ROU”) assets and lease obligations for its leases, which are initially recognized at the commencement date based on the discounted future lease payments over the term of the lease. As the rates implicit in the Company’s leases are not readily determinable, the Company determines the present value of the lease liability using its incremental borrowing rate at the lease commencement date. Incremental borrowing rates for domestic currency leases are calculated using the Company’s credit adjusted risk-free rate. Foreign-denominated lease payments are discounted using country-specific treasury rates adjusted for credit spread. The Company does not record an ROU asset and lease obligation for its short-term leases, which are defined as leases with an initial term of 12 months or less. The Company has elected not to separate lease and non-lease components. Property, Equipment, and Software, Net Property, equipment, and software is stated at historical cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the individual assets, except for leasehold improvements, which are depreciated over the shorter of the estimated useful life of the asset or the underlying lease term. Also included in property, equipment, and software are capitalized costs of software developed for internal use. The useful lives of property, equipment, and software are as follows: ​ ​ ​ Property, Equipment, and Software Asset Type Estimated Useful Lives Software development costs 3 years Computers 3 years Furniture, fixtures, and equipment 5 years Leasehold improvements Shorter of estimated economic useful life or remaining lease term ​ Maintenance and repairs are expensed as incurred. Upon retirement or disposition, the cost and related accumulated depreciation or amortization is removed from the accounts and any gain or loss is included in operating income. Software Development Costs The Company capitalizes certain qualifying costs, including stock-based compensation expense, incurred in the development of and major enhancements to the Company's cloud-based software as a service (“SaaS”) platform and related software products. Capitalized software development costs related to the Company's platform are amortized on a straight-line basis over the developed software's estimated useful life of three years, and the related amortization expense is recorded in cost of revenues within our consolidated statements of operations. Costs incurred in the preliminary stages of development are expensed as incurred. Costs incurred for post-implementation activities, training, maintenance, and minor upgrades and enhancements without adding additional functionality are expensed as incurred within technology and development expense in our consolidated statements of operations. Impairment of Long-Lived Assets The Company evaluates the carrying value of long-lived assets in accordance with the accounting standard for impairment or disposal of long-lived assets, which requires recognition of impairment of long-lived assets in the event that circumstances indicate impairment may have occurred and when the net carrying value of such asset group exceeds the future undiscounted cash flows attributed to such asset group. The Company assesses the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. No impairment of long-lived assets occurred during the years ended December 31, 2023, 2022, and 2021. Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the exit price) in an orderly transaction between market participants at the measurement date. Accounting standards establish a hierarchal framework, which prioritizes and ranks the level of market price observability used in measuring assets and liabilities at fair value. Market price observability is impacted by a number of factors, including the type of investment and the characteristics specific to the investment. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on the best information available. Assets and liabilities measured and reported at fair value are classified and disclosed in one of the following categories: Level 1 Inputs are quoted prices for identical instruments in active markets; Level 2 Inputs are quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets; Level 3 Inputs are valuations derived from valuation techniques in which one or more significant inputs are unobservable. The Company has investments in money market accounts, which are included in cash and cash equivalents on the consolidated balance sheets. Fair value inputs for these investments are considered Level 1 measurements within the fair value hierarchy, as money market account fair values are known and observable through daily published floating net asset values. Annual Bonus Incentive Plan Stock Compensation Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification 606 (“ASC 606”), Revenue from Contracts with Customers ● Identification of the contract, or contracts, with a client; ● Identification of the performance obligation in the contract; ● Determination of transaction price; ● Allocation of the transaction price to the performance obligations in the contract; and ● Recognition of revenue when, or as, performance obligations are satisfied. Platform subscriptions revenues Platform subscriptions revenues consist primarily of user fees to provide our clients access to our cloud-based solution. Fees consider various components such as number of users, connectivity, trading volume, data usage and product coverage. Platform subscriptions clients do not have the right to take possession of the platform’s software and do not have any general return right. Platform subscriptions revenues are recognized ratably over the period of contractually enforceable rights and obligations, beginning on the date the client gains access to the platform. Installed payments are generally invoiced at the end of each calendar month during the subscription term. There is no financing available. Managed services revenues Managed services revenues primarily consist of client-selected middle- and back-office, technology-powered services. Managed services revenues are recognized ratably over the period of contractually enforceable rights and obligations, beginning on the contract effective date. Clients are invoiced a set fee for managed services typically at the end of each month. Generally, invoices have a 30-day payment period in accordance with the associated contract. There is no financing available. Other revenues Other revenues consist of non-subscription-based revenues primarily data conversion. The Company recognizes revenues as these services are performed with invoicing generally occurring at the end of each month. Service contracts with multiple performance obligations Certain of the Company’s contracts provide for customers to be charged a fee for implementation services. In determining whether the implementation services, which frequently include configuration and/or interfacing, customer reporting, customizing user permissions and acceptance testing, end-user training, and establishing connections with third-party interfaces, are distinct from its platform subscription services, the Company considers, in addition to their complexity and level of customization, that these services are integral in delivering the customer desired output and are necessary for the customer to access and begin to use the hosted application. The implementation provider must be intimately familiar with its platform to effectively execute the customization required, and no other entities have access to the source code. The Company has concluded that the implementation services in its service contracts with multiple performance obligations are not distinct, and therefore, the Company recognizes fees for implementation services ratably over the non-cancelable term of the contract. Remaining performance obligations For the Company’s contracts that exceed one year and do not include a termination for convenience clause, the amount of the transaction price allocated to remaining performance obligations as of December 31, 2023 was $29.1 million and is expected to be recognized based on the below schedule (in thousands). ​ ​ ​ ​ Remaining Performance Obligation ​ December 31, 2023 2024 ​ $ 18,227 2025 ​ 8,845 2026 ​ 1,986 2027 ​ 64 2028 ​ ​ — Total ​ $ 29,122 ​ Disaggregation of revenue The Company’s total revenues by geographic region, based on the client’s physical location is presented in the following table (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ Geographic Region Amount Percent Amount Percent ​ Amount Percent ​ Americas* ​ $ 108,506 62.1 % $ 95,122 63.3 % $ 72,994 65.3 % Europe, Middle East, and Africa (EMEA) ​ 26,122 15.0 % 20,051 13.3 % 13,491 12.1 % Asia Pacific (APAC) ​ 39,907 22.9 % 35,176 23.4 % 25,215 22.6 % Total revenues ​ $ 174,535 100.0 % $ 150,349 100.0 % $ 111,700 100.0 % ​ * Includes revenues from clients based in the United States (country of domicile) of $104.5 million, $92.8 million, and $71.9 million for the years ended December 31, 2023, 2022, and 2021, respectively. Deferred commissions The Company pays sales commissions for initial contracts and expansions of existing contracts with customers. These commissions earned by certain of its sales force are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions paid where the amortization period is one year or less are expensed as incurred. All other sales commissions are deferred and then amortized on a straight-line basis over a period of benefit that the Company has determined to be three years. The Company determined the period of benefit by taking into consideration its standard contract terms and conditions, rate of technological change, and other factors. Amortization expense is included in sales and marketing expenses in the accompanying consolidated statements of operations. The balance of deferred commissions as of December 31, 2023 and December 31, 2022 was $3.5 million and $2.8 million, respectively, and is included in other assets on the consolidated balance sheets. The amount of amortization expense recognized during the years ended December 31, 2023, 2022, and 2021 was $1.4 million, $845 thousand, and $228 thousand, respectively. Cost of Revenues Cost of revenues consists primarily of personnel-related costs associated with the delivery of the Company’s software and services, including base salaries, bonuses, employee benefits and related costs. Additionally, cost of revenues includes amortization of capitalized software development costs, allocated overhead and certain direct data and hosting costs. Technology and Development Technology and development expenses consist primarily of employee-related expenses for the Company’s software development. Additional expenses include costs related to the development, maintenance, quality assurance and testing of new technologies, and ongoing refinement of the Company’s existing solutions. Technology and development expenses, other than software development costs qualifying for capitalization, including costs associated with preliminary project stage activities, training, maintenance, and all other post-implementation stage activities are expensed as incurred. Advertising Costs The Company expenses advertising costs as incurred. Advertising costs incurred were approximately $1.5 million, $1.5 million, and $1.2 million during the years ended December 31, 2023, 2022, and 2021, respectively. Stock-Based Compensation In October 2021, in connection with the IPO, the Company adopted the 2021 Stock Option and Incentive Plan, (the “2021 Plan”). The 2021 Plan allows the Company’s Compensation Committee to make incentive awards to its officers, employees, directors, and service providers. The Company also adopted the 2021 Employee Stock Purchase Plan (the “2021 ESPP”). The Company measures stock-based compensation expense for its share-based payment awards at fair value on the grant date. The fair value of share-based payment awards is determined using the fair market value of the underlying Class A common stock on the date of grant. The Company applied a discount for lack of marketability, estimated using the Finnerty Model, to the fair value of awards with post-vesting restrictions, which includes the vested shares of Class A common stock and the Contingently Issuable Shares (as defined below) issued on the IPO effectiveness date (as defined below). For restricted stock units (“RSUs”) for which vesting is subject to the achievement of a market condition, the Company determines the fair value of these RSUs using the Monte Carlo method. The Monte Carlo simulations used to estimate the fair value include subjective assumptions, including the fair value of the underlying common stock, expected volatility of the price of the Company’s common stock, risk-free interest rate, expected dividend yield of common stock, and the Company’s cost of equity capital. The Company records forfeitures as they occur. The cost of services received from employees and non-employees in exchange for awards of equity instruments is recognized in the consolidated statements of operations based on the estimated fair value of those awards on the grant date or reporting date, if required to be remeasured, and amortized on a straight-line basis over the requisite service period. Income (Loss) Per Share Income (loss) per share is computed by dividing net income (loss) attributable to the Company by the number of weighted average shares of Class A common stock outstanding during the period. Diluted income (loss) per share is computed by dividing net income (loss) attributable to the Company by the number of weighted-average shares of Class A common stock outstanding during the period after adjusting for the impact of securities that would have a dilutive effect on income (loss) per share. See Note 12, Income (Loss) Per Class A Common Share, All income (loss) for the period prior to the IPO were entirely allocable to Enfusion Ltd. LLC. and its historic non-controlling interest. Due to the impact of the Reorganization Transactions, the Company’s capital structure for the pre- and post-IPO periods is not comparable. As a result, the presentation of income (loss) per share for the periods prior to the IPO and Reorganizational Transactions is not meaningful and only income (loss) per share for the period subsequent to the IPO and Reorganizational Transactions is presented herein. Non-Controlling Interest Non-controlling interests represent the portion of profit or loss, net assets, and comprehensive income (loss) of its consolidated subsidiaries that are not allocable to the Company based on its percentage of ownership of such entities. Income Taxes The Company accounts for income taxes under the asset and liability method, and deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying values of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and deferred tax liabilities is recognized in income in the period that includes the enactment date. The Company recognizes deferred tax assets to the extent that it is believed that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, carryback potential if permitted under the tax law, and results of recent operations. A valuation allowance is provided if it is determined that it is more likely than not that the deferred tax asset will not be realized. The Company evaluates and accounts for uncertain tax positions using a two-step approach. Recognition (step one) occurs when the Company concludes that a tax position, based solely on its technical merits, is more-likely-than-not to be sustainable upon examination. Measurement (step two) determines the amount of tax benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. Derecognition of a tax position that was previously recognized would occur when the Company subsequently determines that a tax position no longer meets the more-likely-than-not threshold of being sustained. The Company records interest (and penalties where applicable), net of any applicable related income tax benefit, on potential income tax contingencies as a component of income tax expense in the consolidated statements of operations. Tax Receivable Agreement (TRA) The Company accounts for amounts payable under the Tax Receivable Agreement in accordance with ASC 450, Contingencies Concentration of Risk Deposits with Financial Institutions The Company has concentrated its credit risk for cash by maintaining deposits in several financial institutions, which may at times exceed amounts covered by insurance provided by the Federal Deposit Insurance Corporation. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk related to cash. Accounts Receivable As of December 31, 2023, the Company had one individual client that represented 10% or more of accounts receivables. For the years ended December 31, 2023, 2022, and 2021, no individual client represented more than 10% of the Company’s total revenues. Translation of Foreign Currencies Assets and liabilities denominated in the functional currency of the Company’s international subsidiaries are translated to its reporting currency using the exchange rates in effect at the balance sheet date. Results from operations are translated using the average exchange rates prevailing throughout the year. The effects of exchange rate fluctuations on translating foreign currency assets and liabilities into U.S. dollars are accumulated as part of the foreign currency translation adjustment in accumulated other comprehensive loss in the consolidated balance sheets. Foreign currency balances for monetary assets and liabilities are remeasured into the entity’s functional currency at the balance sheet date, and fluctuations in value are recorded within other income (expense) in the consolidated statements of operations. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13 and ASU 2018-19, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments January 1, 2023 recognized the cumulative effect of initially applying the guidance as a $149 thousand addition to its existing reserve with an offsetting adjustment to accumulated deficit. Recent Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topics 740): Improvements to Income Tax Disclosures

Property, Equipment, and Softwa

Property, Equipment, and Software, Net	12 Months Ended
	Dec. 31, 2023
Property, Equipment, and Software, Net
Property, Equipment, and Software, Net	Note 4 Property, Equipment, and Software, Net Property, equipment, and software, net consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 2022 Computer equipment ​ $ 17,384 ​ $ 17,496 Software development costs ​ 15,842 ​ 9,406 Leasehold improvements ​ 1,668 ​ 1,831 Furniture and fixtures ​ 137 ​ 433 Total property, equipment, and software, cost ​ 35,031 ​ 29,166 Less accumulated depreciation and amortization ​ (16,717) ​ (13,407) Total property, equipment, and software, net ​ $ 18,314 ​ $ 15,759 ​ As of December 31, 2023 and 2022, property, equipment, and software, net located in the United States was $17.0 million and $13.7 million, respectively. The remainder was located in the Company’s various international locations. Included in property, equipment, and software are the capitalized costs of software development. Software development costs capitalized during the years ended December 31, 2023 and 2022 were $6.4 million and $4.5 million, respectively. Depreciation expense related to property and equipment, excluding software development costs, was $5.1 million, $3.3 million, and $2.4 million for the years ended December 31, 2023, 2022, and 2021, respectively. Amortization expense related to software development costs was $3.4 million, $2.2 million, and $1.3 million for the years ended December 31, 2023, 2022, and 2021, respectively. ​ ​ ​ ​ ​

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	12 Months Ended
	Dec. 31, 2023
Accrued Expenses and Other Current Liabilities
Accrued Expenses and Other Current Liabilities	Note 5 Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 2022 Accrued compensation ​ $ 10,058 ​ $ 10,268 Accrued expenses and other ​ 1,385 ​ 1,112 Accrued taxes ​ 2,398 ​ 285 Total accrued expenses and other current liabilities ​ $ 13,841 ​ $ 11,665 ​ Accrued compensation includes bonuses due to employees of $6.4 million and $7.8 million as of December 31, 2023 and 2022, respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases
Leases	​ Note 6 Leases The Company enters into leases for office space and data centers. A number of the leases include one or more options to renew the lease terms or not terminate the lease. The exercise of these options is at the Company’s discretion and is therefore recognized on the balance sheet when it is reasonably certain the Company will exercise such options. All of the Company’s leases are considered operating leases. The Company had no finance leases as of and for the year ended December 31, 2023 and 2022, respectively. The Company has entered into operating leases for international office spaces that are yet to commence as of December 31, 2023. Lease commitments as of December 31, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ Amount 2024 ​ ​ 5,197 2025 ​ ​ 4,198 2026 ​ ​ 3,229 2027 ​ ​ 3,253 2028 ​ ​ 1,671 Thereafter ​ ​ 654 Total lease commitments ​ $ 18,202 Less: Interest ​ ​ (2,765) Present value of lease liabilities ​ $ 15,437 ​ The components of the Company’s operating lease cost for the twelve months ended December 31, 2023 and 2022, respectively, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 ​ 2022 Operating lease cost ​ $ 6,882 ​ $ 5,053 Variable lease cost ​ ​ 835 ​ ​ 828 Short-term lease cost ​ ​ 114 ​ ​ — Total lease cost ​ $ 7,831 ​ $ 5,881 ​ Variable lease costs are comprised of the Company’s proportionate share of actual costs for utilities, common area maintenance, property taxes, and insurance, which are not included in the lease liability and are recognized in the period in which they are incurred. As of December 31, 2023 and 2022, respectively, the weighted-average remaining lease terms and weighted-average discount rates were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 ​ 2022 Weighted-average remaining lease term - operating leases ​ ​ 3.80 years ​ ​ 1.84 years Weighted-average discount rate - operating leases ​ ​ 7.80% ​ ​ 4.43% ​ Under Accounting Standards Codification 840, the previous lease standard, total expense for lease arrangements and service agreements was $3.9 million and $1.1 million, respectively, for the year ended December 31, 2021.

Debt

Debt	12 Months Ended
	Dec. 31, 2023
Debt
Debt	Note 7 Debt New Credit Agreement On September 15, 2023, the Company entered into the New Credit Agreement with Bank of America N.A. and a syndicate of lending institutions. The New Credit Agreement provides for a senior secured revolving loan facility in an aggregate principal amount of up to $100.0 million, including a $10.0 million sublimit for the issuance of letters of credit and a swingline subfacility of up to $10.0 million. The New Credit Agreement also includes an uncommitted accordion feature that allows for up to $50.0 million of additional borrowing capacity, subject to obtaining lender commitments and the satisfaction of certain customary conditions. The New Credit Agreement matures on September 15, 2028, at which time all outstanding principal and unpaid interest will become due. Obligations under the New Credit Agreement are secured by a lien on substantially all of the assets of the Company. Revolving loans under the New Credit Agreement will bear interest, at the Company’s option, at an annual rate benchmarked to (1) the Secured Overnight Financing Rate (“SOFR”) or (2) a “Base Rate” that is equal to the highest of (a) the federal funds rate plus 0.50%, (b) Bank of America’s prime rate and (c) one month adjusted term SOFR plus 1.00%. Loans based on SOFR bear interest at a rate equal to term SOFR for the applicable interest period plus 10 basis points plus a margin between 2.00% and 2.75%. Loans based on the Base Rate bear interest at a rate equal to the Base Rate plus a margin between 1.00% and 1.75% (such margins being referred to as the “Applicable Rate”). The Applicable Rate in each case is determined based on the Company’s consolidated net leverage ratio. The Company is also required to pay a commitment fee of between 0.20% and 0.25% per annum on the unused portion of the lenders’ commitments in respect of the revolving loans and letter of credit obligations, based on the Company’s consolidated net leverage ratio. As of December 31, 2023, the commitment fee rate was 0.20%. The New Credit Agreement contains certain customary covenants with which the Company must comply, including financial covenants relating to a net leverage ratio covenant and an interest coverage ratio. As part of the New Credit Agreement, the Company is required to establish within 120 days of the closing date and maintain thereafter a minimum required balance of $5.0 million with Bank of America, and by the first anniversary of the closing date, use commercially reasonable efforts to maintain Bank of America as its principal depository bank. The minimum required balance of $5.0 million was established in February 2024. The Company was in compliance with all loan covenants and requirements as of December 31, 2023. Issuance costs associated with the New Credit Agreement were capitalized and included in other assets on the accompanying consolidated balance sheets. As of December 31, 2023, the Company had no outstanding borrowings under the New Credit Agreement or material letters of credit issued. Prior Credit Agreement Concurrent with entering into the New Credit Agreement, on September 15, 2023, the Company terminated its $5.0 million Prior Credit Agreement with Silicon Valley Bank, which by its terms was scheduled to mature on December 17, 2025. At the time of termination, there were no borrowings outstanding under the Prior Credit Agreement. The Company recognized a loss on extinguishment of debt of $78 thousand associated with the termination of the Prior Credit Agreement.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies
Commitments and Contingencies	Note 8 Commitments and Contingencies The Company records accruals for contingencies when it is probable that a liability will be incurred, and the amount of loss can be reasonably estimated. A description of a contingent payment arrangement under the Company’s Tax Receivable Agreement is included in Note 13, Income Taxes

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2023
Stockholders' Equity
Stockholders' Equity	Note 9 Stockholders’ Equity Prior to the Reorganization Transactions, Enfusion Ltd. LLC was organized as a limited liability company owned by its members, each of whose membership interests consisted of an equal number of: (i) “Economic Units,” which represented a member’s economic interest in Enfusion Ltd. LLC; and (ii) “Participation Units,” which represented a member’s right to participate (vote) in the affairs of Enfusion Ltd. LLC. As a limited liability company, Enfusion Ltd. LLC issued more than one class of units. The Class A units were considered to be members’ equity, whereas all of the other unit classes were considered to be preferred units because of provisions in the Company’s former Operating Agreement that conferred certain rights and privileges to the members owning these units, such as voting rights, redemption rights and liquidation preferences. Holders of the Class C-1, C-2, and D preferred units had the option to require the Company to redeem their units. In accordance with the guidance in ASC 480, Distinguishing Liabilities from Equity In connection with the Reorganization Transactions, the Sixth Amended and Restated Operating Agreement of Enfusion Ltd. LLC was amended and restated to, among other things, modify its capital structure by reclassifying each of the outstanding Class A units and C-1, C-2, and D preferred units into the Common Units through a stock split on a 1,000,000 to 1 basis. The number of Common Units outstanding following the Reorganization Transactions reflect the 1,000,000 to 1 stock split. Pursuant to the adoption of the LLC Operating Agreement, Enfusion US 1, Inc., a newly-formed wholly owned subsidiary of Enfusion, Inc., was appointed the sole managing member of Enfusion Ltd. LLC. On June 15, 2023, the company sold 1.2 million shares of Class A common stock to FTV Investment Holdings, L.P. (“FTV Holdings”) and an affiliate in a private placement. Refer to Note 14, Related Party Transactions On August 14, 2023, the Company sold 1.0 million shares of Class A common stock of the Company, par value $0.001 per share, in a private placement at a price of $7.65 per share. Total net proceeds of the transaction were $7.6 million. On February 21, 2023, March 28, 2023, July 19, 2023, and August 1, 2023, pursuant to the terms of the LLC Operating Agreement, Pre-IPO Common Unitholders respectively surrendered 1,000,000, 1,000,000, 1,000,000, and 1,000,000 Common Units and an equal number of shares of Class B common stock. In connection therewith, the Company respectively issued 1,000,000, 1,000,000, 1,000,000, and 1,000,000 shares of Class A common stock to each such Pre-IPO Common Unitholder, canceled an equal number of Class B common stock, and received an equal number of Common Units, increasing the Company’s ownership of Common Units by 1,000,000, 1,000,000, 1,000,000, and 1,000,000, respectively. Amended and Restated of Certificate of Incorporation The Amended and Restated Certificate of Incorporation of Enfusion, Inc. provides for 1,000,000,000 authorized shares of Class A common stock, 150,000,000 authorized shares of Class B common stock and 100,000,000 shares of preferred stock. Each share of the Company’s Class A common stock is entitled to one vote per share and is not convertible into any other shares of its capital stock. Holders of shares of the Company’s Class A common stock are entitled to receive dividends when, as and if declared by the Company’s board of directors. Upon its liquidation, dissolution or winding up and after payment in full of all amounts required to be paid to creditors, and subject to the rights of the holders of one or more outstanding series of preferred stock, as applicable, having liquidation preferences, the holders of shares of the Company’s Class A common stock will be entitled to receive pro rata the Company’s remaining assets available for distribution. Each share of the Company’s Class B common stock is entitled to one vote per share and is not convertible or exchangeable for a share of Class A common stock or any other security. Holders of the Company’s Class B common stock do not have any right to receive dividends or to receive a distribution upon a liquidation, dissolution or winding up of Enfusion, Inc. Preferred Stock The Company’s board of directors have the authority, without further action by the Company’s stockholders, to issue up to 100,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges and restrictions thereof. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms and the number of shares constituting, or the designation of, such series, any or all of which may be greater than the rights of Class A common stock. As of December 31, 2023 and 2022, the Company has no shares of preferred stock outstanding nor has the Company’s board of directors established the rights and privileges related to any series of preferred stock.

Management Incentive Plan and S

Management Incentive Plan and Stock-Based Compensation	12 Months Ended
	Dec. 31, 2023
Management Incentive Plan and Stock-Based Compensation
Management Incentive and Stock-Based Compensation	Note 10 Management Incentive Plan and Stock-Based Compensation 2021 Stock Option and Incentive Plan In conjunction with the IPO, the Company established the 2021 Stock Option and Incentive Plan (the “2021 Plan”), which became effective upon the date immediately preceding the IPO effectiveness date (as defined below). The Company has initially reserved 26,400,000 shares of Class A common stock for the issuance of awards under the 2021 Plan, inclusive of awards (the “Award Units”) granted to Plan Participants (as defined below) of the Pre-IPO Change in Control Bonus Plan (as defined below). The 2021 Plan provides that the number of shares of Class A common stock reserved and available for issuance under the 2021 Plan increased on January 1, 2022 and will continue to increase each January 1 thereafter, by 3% of the outstanding number of shares of the Company’s Class A common stock and Class B common stock on the immediately preceding December 31, or such lesser number of shares as determined by the Company’s Compensation Committee. The 2021 Plan provides for potential grants of the following awards: (i) stock options, (ii) RSUs, (iii) unrestricted shares, and (iv) stock appreciation rights. Pre-IPO Change in Control Bonus Plan Prior to the IPO, Enfusion Ltd. LLC had a Pre-IPO Change in Control Bonus Plan (the “pre-IPO Change in Control Bonus Plan”) for certain members of management (“Plan Participants”) that provided for the payment of a cash bonus based on a specified number of Award Units in the event of a change in control (“CiC”) transaction (i.e., a liquidity event), as defined by the LLC Operating Agreement. In anticipation of the Company’s IPO, in October 2021, the Company's board of managers elected to terminate the Pre-IPO Change in Control Bonus Plan (and all Award Units issued thereunder) upon effectiveness of the registration statement for the IPO (the “IPO effectiveness date”). Holders of Award Units that were still employed as of the IPO effectiveness date were granted one or more of the following: ● The vested shares of Class A common stock as of IPO effectiveness date (“IPO vested Class A common stock”) are shares that were all issued to Plan Participants prior to the second anniversary of the IPO. No future service was required to receive the IPO vested Class A common stock. Because there was no ongoing service requirement associated with these awards, the Company recognized stock-based compensation expense for these awards on the IPO effectiveness date. The amount of stock-based compensation expense recognized for these awards was $237.3 million in 2021, which is equal to the fair value of the shares of the IPO vested Class A common stock, after applying a discount for lack of marketability due to the post-vesting restriction. ​ ● Shares of Class A common stock that vested within one year of the IPO effectiveness date are referred to as “Contingently Issuable Shares” due to continued employment requirements. Of such shares, 7.5% was distributed in 2022 with the remainder distributed in 2023. Stock-based compensation expense associated with these awards is recognized by the Company on a straight-line basis over the requisite service period for the entire award, beginning on the IPO effectiveness date. The amount of stock-based compensation expense recognized for these awards was $0 , $10.2 million, and $16.7 million in the years ended December 31, 2023, 2022, and 2021, respectively, which is equal to the fair value of the shares of the IPO vested Class A common stock, after applying a discount for lack of marketability due to the post-vesting restriction. ​ ● RSUs granted to executive and non-executive employees that will vest ratably over a period of up to four years subject to the Plan Participant’s continued employment. Stock-based compensation expense associated with these awards is recognized by the Company on a straight-line basis over the requisite service period for the entire award, beginning on the IPO effectiveness date. The amount of stock-based compensation expense recognized for these awards was $7.3 million, $13.2 million, and $4.5 million in the years ended December 31, 2023, 2022, and 2021, respectively. ​ ● Performance-based restricted stock units (“PSUs”) that will vest ratably over a period of up to ten years that are subject to a market condition and the Plan Participant’s continued employment. The market condition is the achievement of certain market capitalization targets by the Company at specified measurement dates. The Company determined the fair value of these PSUs using the Monte Carlo method. The Company recognizes stock-based compensation expense on a straight-line basis over the implied service period for each tranche of the award, as if the award were in-substance multiple awards. ​ In addition to the shares of Class A common stock, RSUs, and PSUs granted to employees that were Plan Participants in the Pre-IPO Change in Control Bonus Plan, the Company agreed to issue 2,047,064 shares of Class A common stock to an employee in exchange for termination of a profit sharing agreement. These shares were issued to the employee between the first and second anniversaries of the IPO effectiveness date. The fair value of these shares, after applying a discount for lack of marketability due to the post-vesting restriction, is $31.2 million. This amount was recognized as compensation expense on the IPO effectiveness date in 2021. For the IPO vested Class A common stock and the Contingently Issuable Shares granted on the IPO effectiveness date, the Company applied a discount for lack of marketability, estimated using the Finnerty Model, to the fair value of awards with post-vesting restrictions. All IPO vested Class A common stock and Contingently Issuable Shares were issued to Plan Participants prior to the second anniversary of the IPO. Restricted Stock Units The Company measures stock-based compensation expense for its share-based payment awards at fair value on the grant date. For RSUs for which vesting is not subject to the achievement of a market condition or achievement of a specified share price, the fair value of share-based payment awards is determined using the fair market value of the underlying Class A common stock on the date of grant (i.e. share price at closing). The Company recognizes stock-based compensation expense for these RSUs on a straight-line basis over requisite service period for the entire award. Stock Options The expected fair value and term of the Company’s stock options was determined utilizing the simplified method, due to lack of historical exercise data. The expected volatility was determined using a weighted-average of the historical volatility measures of a group of guideline companies and the Company's own historical volatility. During the year ended December 31, 2023, there were 71,004 stock options granted under the 2021 Plan, at a weighted-average exercise price of $11.06 per option, and 31,474 stock options were forfeited. During the year ended December 31, 2022, there were 84,000 stock options granted under the 2021 Plan, at a weighted-average price of $9.86 per option, and 40,000 stock options were forfeited. As of December 31, 2023, there was approximately $351 thousand of unrecognized stock-based compensation expense related to the remaining stock options issued during 2022, which is expected to be recognized over a weighted-average period of approximately 2.0 years. The Black-Scholes assumptions used for the options granted under the 2021 Plan during the year ended December 31, 2022 were as follows: ​ ​ ​ ​ ​ ​ Assumptions ​ 2023 ​ 2022 Expected volatility ​ 60.91% ​ 64.54% Expected term of award ​ 6.5 years ​ 6.5 years Risk-free rate ​ 3.82% ​ 3.39% Dividend yield ​ 0.00% ​ 0.00% ​ The shares of common stock to be issued and/or sold upon the exercise of stock options are made available from authorized and unissued common stock. Performance-based Restricted Stock Units For PSUs for which vesting is subject to the achievement of a market condition or specified price of the Company’s shares, the Company determines the fair value of these PSUs using the Monte Carlo method. The Monte Carlo simulations used to estimate the fair value include subjective assumptions, including the fair value of the underlying common stock, expected volatility of the price of the Company’s common stock, risk-free interest rate, expected dividend yield of common stock, and the Company’s cost of equity capital. In the fourth quarter of 2023, 580,000 performance-based PSUs were granted. In the year ended December 31, 2022, 250,000 performance-based PSUs were granted. The assumptions used in the Monte Carlo simulation for the PSUs were as follows: ​ ​ ​ ​ ​ ​ ​ ​ Assumptions ​ 2023 ​ 2022 ​ 2021 Fair value of common stock (per share) ​ $9.89 ​ $8.92 ​ $17.00 Expected volatility ​ 41.65% ​ 53.40% ​ 48.20% Risk-free rate ​ 4.38% ​ 3.98% ​ 1.65% Dividend yield ​ 0.00% ​ 0.00% ​ 0.00% Cost of equity capital ​ 14.10% ​ 13.50% ​ 11.20% ​ As of December 31, 2023, the total compensation cost related to unvested awards not yet recognized was $2.8 million, and weighted-average period of recognition was 2.0 years. Stock-Based Compensation The Company’s stock-based compensation expense was recognized in the following captions within the consolidated statements of operations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, (in thousands) ​ 2023 ​ 2022 ​ 2021 Cost of revenues ​ $ 950 ​ $ 1,421 ​ $ 377 General and administrative ​ ​ 5,635 ​ ​ 14,130 ​ ​ 112,829 Sales and marketing ​ ​ (984) ​ ​ 5,875 ​ ​ 36,312 Technology and development ​ ​ 1,857 ​ ​ 3,567 ​ ​ 140,285 Total stock-based compensation expense ​ $ 7,458 ​ $ 24,993 ​ $ 289,803 ​ The Company recognized total stock-based compensation expense, including RSUs and stock options, for the years ended December 31, 2023, 2022, and 2021 of $7.5 million, $25.0 million, and $289.8 million, respectively, in the consolidated statements of operations. The Company capitalized $766 thousand and $600 thousand of stock-based compensation expense to capitalized software development costs for the years ended December 31, 2023 and 2022, respectively. No amounts were capitalized relating to the year ended December 31, 2021 due to the fact that no awards were granted in conjunction with capitalizable activities. Total unrecognized stock-based compensation expense related to unvested RSUs and stock options was $19.7 million as of December 31, 2023, which is expected to be recognized over a weighted-average period of 2.0 years. The following summarizes the Company’s share-based payment award activity for all IPO vested Class A common stock, RSUs, Contingently Issuable Shares and stock options for the years ended December 31, 2023 and 2022, respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ IPO Vested Class A Common Stock, Contingently Issuable Shares and RSUs ​ Options ​ ​ Number of Units Weighted-Average Grant-Date Fair Value Number of Options ​ Weighted-Average Exercise Price ​ Weighted-Average Remaining Contractual Term (in years) Outstanding as of December 31, 2022 ​ 20,224,452 ​ $ 15.15 ​ 44,000 ​ ​ 9.86 ​ 9.46 Vested as of December 31, 2022 ​ 17,225,377 ​ ​ ​ ​ - ​ ​ - ​ ​ Unvested as of December 31, 2022 ​ 2,999,075 ​ ​ ​ ​ 44,000 ​ ​ 9.86 ​ ​ Granted during the period ​ 1,925,762 ​ $ 8.49 ​ 71,004 ​ ​ 11.06 ​ ​ Forfeited during the period ​ (584,178) ​ ​ 15.32 ​ (31,474) ​ ​ 10.15 ​ ​ Vested and issued during the period (a) ​ (18,374,139) ​ ​ 15.27 ​ - ​ ​ - ​ ​ Outstanding as of December 31, 2023 (b) ​ 3,191,897 ​ $ 9.61 ​ 83,530 ​ $ 10.77 ​ 8.89 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Includes shares issued and net settled to satisfy tax withholding obligations. (b) December 31, 2023 balance is all unvested. ​

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2023
Employee Benefit Plans
Employee Benefit Plans	Note 11 Employee Benefit Plans The Company sponsors a 401(k) Plan that covers substantially all full-time United States employees who meet eligibility requirements. The Company makes matching contributions equal to 50% of the wages that are deferred by employees, and the matching contribution is capped at 3% of wages. The Company made contributions of $1.0 million, $584 thousand, and $452 thousand for the years ended December 31, 2023, 2022, and 2021, respectively. The Company also sponsors various other benefit plans for its employees of certain international subsidiaries. The Company’s contributions to these plans are immaterial for the periods presented.

Net Income (Loss) Per Class A C

Net Income (Loss) Per Class A Common Share	12 Months Ended
	Dec. 31, 2023
Net Income (Loss) Per Class A Common Share
Net Income (Loss) Per Class A Common Share	​ Note 12 Net Income (Loss) Per Class A Common Share Basic income (loss) per share is computed by dividing net income (loss) attributable to Enfusion, Inc. by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted income (loss) per share is computed giving effect to all potentially dilutive shares. Prior to the IPO, the Enfusion Ltd. LLC membership structure included Common Units and multiple classes of preferred Units. The Company analyzed the calculation of earnings per unit for periods prior to the IPO using the two-class method and determined that it resulted in values that would not be meaningful to the users of these consolidated financial statements. Therefore, earnings per share information has not been presented for periods prior to the IPO on October 20, 2021. The basic and diluted earnings per share represent only the years ended December 31, 2023 and 2022, and the period from October 21, 2021 to December 31, 2021. A reconciliation of the numerator and denominator used in the calculation of basic and diluted net income (loss) per share of Class A common stock is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, (in thousands, except per share amounts) ​ 2023 2022 ​ 2021 Net income (loss) ​ $ 9,253 ​ $ (13,263) ​ $ (282,242) Less: Net income attributable to Enfusion, Inc. prior to the IPO ​ ​ - ​ ​ - ​ ​ (12,892) Less: Net (income) loss attributable to non-controlling interests ​ ​ (3,228) ​ ​ 5,609 ​ ​ 123,925 Net income (loss) attributable to Enfusion, Inc. ​ $ 6,025 ​ $ (7,654) ​ $ (171,209) Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) attributable to Enfusion, Inc. ​ $ 6,025 ​ $ (7,654) ​ $ (171,209) Adjustment to loss attributable to common stockholders ​ ​ 306 ​ ​ (954) ​ ​ (16,580) Numerator for Basic Earnings per Share ​ $ 6,331 ​ $ (8,608) ​ $ (187,789) Adjustment to Income for Dilutive Shares ​ ​ 2,922 ​ ​ - ​ ​ - Numerator for Diluted Earnings per Share ​ $ 9,253 ​ $ (8,608) ​ $ (187,789) Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average shares of Class A common stock outstanding ​ ​ 80,828 ​ ​ 67,057 ​ ​ 65,583 Vested shares of Class A common stock and RSUs ​ ​ 7,374 ​ ​ 18,336 ​ ​ 17,462 Weighted-average shares of Class A common stock outstanding--basic ​ ​ 88,202 ​ ​ 85,393 ​ ​ 83,045 Add: Dilutive Shares ​ ​ 41,227 ​ ​ - ​ ​ - Weighted-average shares of Class A common stock outstanding--diluted ​ ​ 129,429 ​ ​ 85,393 ​ ​ 83,045 Net income (loss) per share of Class A common stock--Basic ​ $ 0.07 ​ $ (0.10) ​ $ (2.26) Net income (loss) per share of Class A common stock--Diluted ​ $ 0.07 ​ $ (0.10) ​ $ (2.26) ​ The following number of potentially dilutive shares were excluded from the calculation of diluted loss per share because the effect of including such potentially dilutive shares would have been antidilutive: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, (in thousands) ​ 2023 2022 ​ 2021 Class B common stock ​ ​ - ​ ​ 43,199 ​ ​ 47,471 Contingently issuable shares of Class A common stock ​ ​ - ​ ​ - ​ ​ 1,726 Restricted stock units ​ ​ 1,048 ​ ​ 2,999 ​ ​ 2,905 Stock options ​ ​ 84 ​ ​ 44 ​ ​ - ​ ​ ​ 1,132 ​ ​ 46,242 ​ ​ 52,102 ​ Shares of Class B common stock do not share in earnings and are not participating securities. Accordingly, separate presentation of loss per share of Class B common stock under the two-class method has not been presented. Shares of Class B common stock are, however, considered potentially dilutive shares of Class A common stock. After evaluating the potential dilutive effect under both the treasury stock method and if-converted method, shares of Class B common stock were determined to be dilutive and have therefore been included in the computation of diluted earnings per share of Class A common stock for the year ended December 31, 2023.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Taxes
Income Taxes	​ Note 13 Income Taxes The Company is taxed as a corporation for income tax purposes and is subject to federal, state, and local taxes on the income allocated to it from Enfusion Ltd. LLC based upon the Company’s economic interest in Enfusion Ltd. LLC. The Company controls the sole managing member of Enfusion Ltd. LLC and, as a result, consolidates the financial results of Enfusion Ltd. LLC. Enfusion Ltd. LLC is a limited liability company taxed as a partnership for income tax purposes. Enfusion Ltd. LLC does not pay any federal income taxes, as income or loss is included in the tax returns of the individual members. Additionally, certain wholly-owned entities taxed as corporations are subject to federal, state, and foreign income taxes in the jurisdictions in which they operate, and accruals for such taxes are included in the consolidated financial statements. For periods prior to the IPO, the Company’s taxes represent those of Enfusion Ltd. LLC. The components of income (loss) before income taxes were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2023 2022 ​ 2021 U.S. ​ $ 5,503 ​ $ (16,201) ​ $ (279,990) Foreign ​ 5,981 ​ 4,012 ​ (1,673) Total ​ $ 11,484 ​ $ (12,189) ​ $ (281,663) ​ The income (loss) before income taxes above includes the pre- and post-IPO periods for the year ended December 31, 2021. Prior to the IPO, the Company, through its subsidiary, Enfusion Ltd. LLC, was structured as a partnership and therefore, was primarily subject to foreign income taxes and generally not subject to U.S. income taxes. As a result of the Reorganization Transactions, the Company is now taxed as a corporation and subject to U.S. federal, state, local and foreign taxes. Significant components of income tax expense (benefit) were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2023 2022 ​ 2021 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Federal ​ $ (5) ​ $ — ​ $ — State & Local ​ ​ 53 ​ ​ — ​ ​ — Foreign ​ ​ 2,190 ​ ​ 1,347 ​ ​ 228 Total Current Income Tax Expense ​ ​ 2,238 ​ ​ 1,347 ​ ​ 228 Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Federal ​ ​ — ​ ​ — ​ ​ — State & Local ​ ​ — ​ ​ — ​ ​ — Foreign ​ ​ (7) ​ ​ (273) ​ ​ 351 Total Deferred Income Tax Expense (Benefit) ​ (7) ​ (273) ​ 351 Total ​ $ 2,231 ​ $ 1,074 ​ $ 579 ​ A reconciliation of income taxes computed at the U.S. federal statutory income tax rate of 21% to the Company’s income tax expense (benefit) was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2023 2022 ​ 2021 ​ At U.S. Federal Statutory Tax Rate ​ ​ 21.0 % ​ 21.0 % ​ 21.0 % State Tax, Net of Federal Benefit ​ ​ 38.9 % ​ 3.1 % ​ 4.3 % Non-controlling Interest ​ ​ (7.3) % ​ (8.9) % ​ (9.2) % Foreign Branch Taxes ​ ​ 10.9 % ​ (8.2) % ​ (0.3) % Stock-Based Compensation ​ ​ 113.5 % ​ (10.6) % ​ (2.5) % Foreign Rate Differential ​ ​ 0.3 % ​ 0.5 % ​ — % Valuation Allowance ​ ​ (168.8) % ​ 50.6 % ​ (14.5) % Change in Tax Rates ​ ​ 1.9 % ​ (59.2) % ​ — % Return to Provision ​ ​ 6.5 % ​ 4.0 % ​ 0.1 % Unrecognized Tax Benefit ​ ​ 2.1 % ​ — % ​ — % Pass-through Loss (Income) ​ ​ — % ​ — % ​ 0.9 % Other ​ ​ 0.4 % ​ (1.1) % ​ — % Total ​ ​ 19.4 % ​ (8.8) % ​ (0.2) % ​ The Company’s effective tax rate for the years ended December 31, 2023, 2022, and 2021 was 19.4%, (8.8)%, and (0.2)%, respectively. The most significant items impacting the effective tax rate are explained below. State Tax, Net of Federal Benefit The Company’s state taxes, net of federal benefit, include the effects of state taxes currently payable and changes in state deferred income taxes, exclusive of the valuation allowance. The significant increase in state taxes, net of federal benefit, in the year ended December 31, 2023, is primarily due to the U.S. state deferred tax effect of non-deductible equity-based compensation and related tax deduction deficiencies. For the years ended December 31, 2023, 2022, and 2021, the Company recorded state tax expenses (benefit) of $4.5 million, $(0.4) million, and $(12.1) million, respectively. Noncontrolling Interest The Company’s sole material asset is a financial interest in Enfusion Ltd. LLC. While the Company consolidates Enfusion Ltd. LLC for financial reporting purposes, the Company will only be taxed on (benefit from) its share of earnings (losses) of Enfusion Ltd. LLC not attributed to the noncontrolling interest holders. Since noncontrolling interest holders will continue to bear (benefit from) their share of income tax expense (benefit) on its allocable earnings (losses) of Enfusion Ltd. LLC, that share of income tax expense (benefit) is not reported by the Company in its consolidated financial statements. The U.S. federal tax (benefit) expense associated with the allocation of earnings (losses) to noncontrolling interest holders for the years ended December 31, 2023, 2022, and 2021 was $(0.8) million, $1.1 million and $25.9 million, respectively. Stock-Based Compensation As a result of the Reorganization Transactions, a significant portion of the Company’s certain stock-based compensation expenses will be allocated to the noncontrolling interest holders and therefore will not be deductible to the Company. The remaining portion of these expenses will be subject to the tax deduction limitations as established by the U.S. tax law in respect of the executive compensation. The Company recognizes an excess tax benefit or tax deficiency when the deduction for the stock-based compensation expense of a stock award for tax purposes differs from the cumulative stock-based compensation expense recognized in the financial statements. The U.S. federal tax impact of non-deductible stock-based compensation, including tax deficiencies, for the years ended December 31, 2023, 2022, and 2021 was $13.0 million, $1.3 million, and $2.5 million, respectively. Valuation Allowance The Company’s net deferred tax benefit (expense) for the years ended December 31, 2023, 2022, and 2021 of $(19.4) million, $(6.2) million, and $40.8 million, respectively, was fully offset by the valuation allowance recorded (released) in the consolidated statements of operations for each respective year. Foreign Branch Taxes The Company has foreign operations that are treated as branches for U.S. tax purposes and are also subject to income taxes in those foreign jurisdictions. For the years ended December 31, 2023, 2022, and 2021, the Company recorded $1.3 million, $1.0 million, and $0.6 million, respectively, in foreign income taxes related to the pre-tax income of its branches. Return to Provision For the years ended December 31, 2023, 2022, and 2021 the Company recorded a tax expense (benefit) of $0.8 million, $(0.5) million, and $(0.2) million, respectively, in relation to its filed or expected to be filed U.S. and foreign income tax returns. These true-up adjustments are attributable to actual results in the Company’s tax filings as compared to the estimates included in its previously issued consolidated financial statements. Change in Tax Rates For the years ended December 31, 2023, and 2022, the Company reduced its deferred tax assets by $0.2 million and $7.2 million, respectively, to reflect a change in the estimated U.S. state tax rate caused by a change in the overall mix of its U.S. earnings by state. Deferred Tax Assets The components of deferred tax assets and liabilities are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 2022 Deferred Tax Assets: ​ ​ ​ ​ ​ ​ Investment in Enfusion Ltd. LLC ​ $ 126,504 ​ $ 86,117 Stock-Based Compensation ​ ​ 1,542 ​ ​ 37,912 Net Operating Losses ​ ​ 11,410 ​ ​ 9,358 Other ​ ​ 851 ​ ​ 794 Total Deferred Tax Assets ​ ​ 140,307 ​ ​ 134,181 Valuation Allowance ​ ​ (140,307) ​ ​ (133,689) Total Deferred Tax Assets Net of Valuation Allowance ​ ​ — ​ ​ 492 Deferred Tax Liabilities: ​ ​ ​ ​ ​ ​ Property and Equipment ​ ​ (70) ​ ​ (77) Total Deferred Tax Liabilities ​ (70) ​ (77) Net Deferred Tax Assets ​ $ (70) ​ $ 415 ​ The Company’s deferred tax assets are primarily comprised of basis differences in the investment in Enfusion Ltd. LLC, stock-based compensation, and tax attribute carryforwards. The ultimate realization of deferred tax assets is dependent upon the generation of sufficient future taxable income to realize the deferred tax assets on the Company’s income tax returns. Management determined that it is more likely than not going that the Company’s deferred tax assets will not be realized due to the Company’s three-year cumulative loss position and the generation of future taxable income is uncertain. The changes in the Company’s valuation allowance for deferred tax assets were as follows (in thousands): ​ ​ ​ ​ Year Ended December 31, 2021 ​ $ 124,526 Charged to Income Tax Expense ​ ​ (6,163) Charged to Stockholders' Equity ​ 15,326 Year Ended December 31, 2022 ​ $ 133,689 Charged to Income Tax Expense ​ ​ (19,381) Charged to Stockholders' Equity ​ ​ 25,999 Year Ended December 31, 2023 ​ $ 140,307 ​ As of December 31, 2023 and 2022, the Company had U.S. federal net operating losses of $43.1 million and $33.2 million, respectively, which can be carried forward indefinitely. As of December 31, 2023 and 2022, the Company had state net operating losses of $35.6 million and $31.2 million, respectively, that begin to expire in 2038. As of December 31, 2023, the Company is not indefinitely reinvested on undistributed earnings from its foreign operations. Due to the Company's structure, the foreign operations do not qualify for the indefinite reinvestment exceptions under ASC 740-30 as the earnings from the foreign operations are subject to U.S. taxation. However, the exception may still apply to foreign withholding taxes due to dividend distributions of earnings from the Company's foreign affiliates. The Company has no plans to make distributions from its foreign operations in the future and, therefore, a deferred tax liability has not been recognized. A determination of the unrecognized deferred taxes is not practicable. A summary of the Company’s unrecognized tax benefits are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2023 2022 ​ 2021 Beginning balance ​ $ 119 ​ $ 119 ​ $ — Increases for tax positions related to the current year ​ ​ — ​ ​ — ​ ​ 30 Increases (decreases) for tax positions of prior years ​ 238 ​ — ​ 89 Expiration of statute of limitations ​ ​ (41) ​ ​ — ​ ​ — Ending balance ​ $ 316 ​ $ 119 ​ $ 119 Interest and penalties ​ ​ 128 ​ ​ 65 ​ ​ 65 ​ The Company’s policy is to include interest and penalties related to unrecognized tax benefits in income tax expense. As of December 31, 2023, the Company accrued has $128 thousand of interest and penalties. The Company files tax returns in the United States and various foreign jurisdictions. The Company is currently being audited in the U.S. and India. However, the Company is no longer subject to examination by those taxing authorities with respect to the years ended prior to 2017. Although the outcome of tax audits is always uncertain and could result in significant cash tax payments, the Company does not believe the outcome of these audits will have a material adverse effect on its consolidated financial position or results of operations. Tax Receivable Agreement The Company expects to obtain an increase in its share of the tax basis in the net assets of Enfusion Ltd. LLC when Common Units are redeemed from or exchanged by the Pre-IPO Common Unitholders. The Company intends to treat any redemptions and exchanges of Common Units as direct purchases of Common Units for U.S. income tax purposes. These increases in tax basis may reduce the amounts that the Company would otherwise pay in the future to U.S. federal and state tax authorities. They may also decrease gains (or increase losses) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. In connection with the IPO, the Company entered into the Tax Receivable Agreement with Enfusion Ltd. LLC, the Pre-IPO Owners that will provide for the payment by the Company to the Pre-IPO Owners of 85% of the amount of tax benefits, if any, that the Company actually realizes (or in some circumstances is deemed to realize) as a result of (1) the Company’s allocable share of existing tax basis acquired in connection with the Reorganization Transactions (including the Blocker Company’s share of existing tax basis) and increases to such allocable share of existing tax basis; (2) increases in tax basis resulting from (a) the Company’s purchase of Common Units directly from Enfusion Ltd. LLC and the partial redemption of Common Units by Enfusion Ltd. LLC, (b) future redemptions or exchanges (or deemed exchanges in certain circumstances) of Common Units for Class A common stock or cash, and (c) certain distributions (or deemed distributions) by Enfusion Ltd. LLC; and (3) certain additional tax benefits arising from payments made under the Tax Receivable Agreement. The Company may benefit from the remaining 15% of any tax benefits that the Company actually realizes. In the years ended December 31, 2023, and 2022, the Company purchased an aggregate of 4,000,000 and 4,272,204 units, respectively, of Enfusion Ltd. LLC in connection with the exchange of those units by the Pre-IPO Common Unitholders, which resulted in an increase of $46.0 million and $48.2 in the tax basis of the net assets of Enfusion Ltd. LLC that would be subject to the provisions of the Tax Receivable Agreement in the years ended December 31, 2023, and 2022, respectively. As of December 31, 2023 and 2022, the Company has not recorded a liability under the Tax Receivable Agreement related to the tax benefits originating from the Reorganization Transactions, IPO, and subsequent purchase of Common Units, as it is not probable that the Company will realize such tax benefits. To the extent the Company had determined that it would have been able to realize the tax benefits associated with the basis adjustments, it would have recorded a liability under the Tax Receivable Agreement of $96.5 million and $83.2 million as of December 31, 2023, and 2022, respectively. The amounts payable under the Tax Receivable Agreement will vary depending upon a number of factors, including the amount, character, and timing of the taxable income of the Company in the future. Should the Company determine that the Tax Receivable Agreement liability be considered probable at a future date based on new information, any changes will be recorded at that time.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions
Related Party Transactions	Note 14 Related Party Transactions Parties are considered to be related if one party has the ability to control or exercise significant influence over the other party in making financial or operating decisions. Since transactions with related parties may raise potential or actual conflicts of interest between the related party and the Company, upon the completion of the IPO, the Company implemented a related party transaction policy that requires related party transactions to be reviewed and approved by its nominating and corporate governance committee. On June 15, 2023, the Company sold 1.2 million shares of Class A common stock to FTV Investment Holdings, L.P. (“FTV Holdings”) and an affiliate in a private placement, at a per share purchase price equal to the average of the closing price of the Class A common stock over the 20 trading days preceding the transaction, which was approximately $8.12 per share. Total net proceeds of the transactions were $9.7 million. Equity issuance costs were immaterial. FTV IV, L.P. (“FTV Fund IV”) beneficially owns more than 5% of the Company’s issued and outstanding Class A common stock. Bradford Bernstein, a member of the Company’s Board of Directors, is a managing partner of FTV Capital and, along with other members of FTV Capital, indirectly shares voting and dispositive power with regard to the shares directly held by FTV Holdings and FTV Fund IV, respectively. In the first quarter of 2023, the Company received approximately $1.5 million from the U.S. Treasury in the form of a tax refund owed to FTV Enfusion Holdings, Inc. (“FTV Enfusion”), which prior to the Company’s initial public offering in 2021 was a Blocker Company through which FTV Fund IV held its equity interests in Enfusion Ltd. LLC. The refund was generated due to overpayments by FTV Enfusion for U.S. federal income taxes associated with FTV Enfusion’s direct ownership of Enfusion Ltd. LLC for the fiscal years ended December 31, 2017 to December 31, 2020. The Company obtained the right to this refund as a result of the merger of FTV Enfusion with and into one of the Company’s subsidiaries as part of the Reorganization Transactions (which did not take into account the value of the tax refund). On June 27, 2023, the Company distributed approximately $1.5 million (the amount of the refund) to FTV Fund IV.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events
Subsequent Events	​ Note 15 Subsequent Events Share Exchange On January 4, 2024, a Pre-IPO Common Unitholder delivered an exchange notice pursuant to Article XII of the LLC Operating Agreement. Pursuant to the terms of the LLC Operating Agreement, on January 11, 2024, the Pre-IPO Common Unitholder surrendered 1,000,000 Common Units and an equal number of shares of Class B common stock. In connection therewith, the Company issued 1,000,000 shares of Class A common stock to such Pre-IPO Common Unitholder, canceled an equal number of shares of Class B common stock, and received an equal number of Common Units, increasing the Company’s ownership of Common Units by 1,000,000.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation These statements have been prepared in conformity with U.S. GAAP. All intercompany balances and transactions are eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. We base our estimates on historical experience and various other assumptions believed to be reasonable. These estimates and assumptions include, but are not limited to, judgments affecting the measurement of the payable to related parties pursuant to the Tax Receivable Agreement, amortization periods, certain assumptions used in the valuation of stock-based compensation, assessment of the allowance for credit losses, and accounting for income taxes and assessment of valuation allowances. Actual results could differ from those estimates. The Company’s results can also be affected by economic, political, legislative, regulatory, and legal actions, including but not limited to health epidemics and pandemics and the resulting economic impact. Economic conditions, such as recessionary trends, inflation, interest and monetary exchange rates, and government fiscal policies can have a significant effect on operations. While the Company maintains reserves for anticipated liabilities and carries various levels of insurance, the Company could be affected by civil, criminal, regulatory, or administrative actions, claims, or proceedings.
Reclassifications	Reclassifications Certain amounts in prior periods have been reclassified to conform with the current period presentation.
Segments	Segments Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer is the CODM. While the Company operates in multiple countries, the Company’s business operates as one operating segment because most of the Company’s service offerings are delivered and supported on a global basis, the Company’s service offerings are deployed in a nearly identical way, and the Company’s CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an initial maturity date of three months or less to be cash equivalents. Funds held as investments in money market funds are included within cash and cash equivalents. As of December 31, 2023 and 2022, respectively, the Company had $30.0 million and $50.0 million, respectively, invested in money market accounts.
Accounts Receivable	Accounts Receivable Accounts receivable includes billed and unbilled receivables, net of allowances, including the allowance for credit losses. Billed accounts receivable are initially recorded upon the invoicing to clients with payment due within 30 days. Unbilled accounts receivable represent revenue recognized on contracts for which the timing of invoicing to clients differs from the timing of revenue recognition. Unbilled accounts receivable was $2.4 million and $2.0 million as of December 31, 2023 and 2022, respectively. Contract assets included in unbilled accounts receivable were $1.7 million and $1.5 million as of December 31, 2023 and 2022, respectively. The Company maintains an allowance for credit losses at an amount estimated to be sufficient to provide adequate protection against losses resulting from extending credit to its clients. The Company regularly determines the adequacy of the allowance based on its assessment of the collectability of the accounts receivable by considering the age of each outstanding invoice, the collection history of each client, an evaluation of the current expected risk of credit loss, and other client-specific factors with a bearing on receivables. The Company assesses collectability by reviewing accounts receivable on an aggregated basis where similar characteristics exist and on an individual basis for specific clients with historical collectability issues or known financial difficulties. Increases to the allowance are recognized as a charge to credit losses included in general and administrative expenses in the consolidated statements of operations. Accounts receivable deemed uncollectible are charged against the allowance for credit losses when identified. The Company's allowance for credit losses is as follows (in thousands): ​ ​ ​ ​ Balance at December 31, 2021 ​ $ 791 Changes to the provision ​ 1,158 Accounts written off, net of recoveries ​ ​ (724) Balance at December 31, 2022 ​ ​ 1,225 Adoption of ASU 2016-13 ​ ​ 149 Changes to the provision ​ ​ 705 Accounts written off, net of recoveries ​ ​ (987) Balance at December 31, 2023 ​ $ 1,092
Leases	Leases The Company determines at contract inception if the contract is or contains a lease. The Company records right-of-use (“ROU”) assets and lease obligations for its leases, which are initially recognized at the commencement date based on the discounted future lease payments over the term of the lease. As the rates implicit in the Company’s leases are not readily determinable, the Company determines the present value of the lease liability using its incremental borrowing rate at the lease commencement date. Incremental borrowing rates for domestic currency leases are calculated using the Company’s credit adjusted risk-free rate. Foreign-denominated lease payments are discounted using country-specific treasury rates adjusted for credit spread. The Company does not record an ROU asset and lease obligation for its short-term leases, which are defined as leases with an initial term of 12 months or less. The Company has elected not to separate lease and non-lease components.
Property and Equipment, Net	Property, Equipment, and Software, Net Property, equipment, and software is stated at historical cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the individual assets, except for leasehold improvements, which are depreciated over the shorter of the estimated useful life of the asset or the underlying lease term. Also included in property, equipment, and software are capitalized costs of software developed for internal use. The useful lives of property, equipment, and software are as follows: ​ ​ ​ Property, Equipment, and Software Asset Type Estimated Useful Lives Software development costs 3 years Computers 3 years Furniture, fixtures, and equipment 5 years Leasehold improvements Shorter of estimated economic useful life or remaining lease term ​ Maintenance and repairs are expensed as incurred. Upon retirement or disposition, the cost and related accumulated depreciation or amortization is removed from the accounts and any gain or loss is included in operating income.
Software Development Costs	Software Development Costs The Company capitalizes certain qualifying costs, including stock-based compensation expense, incurred in the development of and major enhancements to the Company's cloud-based software as a service (“SaaS”) platform and related software products. Capitalized software development costs related to the Company's platform are amortized on a straight-line basis over the developed software's estimated useful life of three years, and the related amortization expense is recorded in cost of revenues within our consolidated statements of operations. Costs incurred in the preliminary stages of development are expensed as incurred. Costs incurred for post-implementation activities, training, maintenance, and minor upgrades and enhancements without adding additional functionality are expensed as incurred within technology and development expense in our consolidated statements of operations.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company evaluates the carrying value of long-lived assets in accordance with the accounting standard for impairment or disposal of long-lived assets, which requires recognition of impairment of long-lived assets in the event that circumstances indicate impairment may have occurred and when the net carrying value of such asset group exceeds the future undiscounted cash flows attributed to such asset group. The Company assesses the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. No impairment of long-lived assets occurred during the years ended December 31, 2023, 2022, and 2021.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the exit price) in an orderly transaction between market participants at the measurement date. Accounting standards establish a hierarchal framework, which prioritizes and ranks the level of market price observability used in measuring assets and liabilities at fair value. Market price observability is impacted by a number of factors, including the type of investment and the characteristics specific to the investment. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on the best information available. Assets and liabilities measured and reported at fair value are classified and disclosed in one of the following categories: Level 1 Inputs are quoted prices for identical instruments in active markets; Level 2 Inputs are quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets; Level 3 Inputs are valuations derived from valuation techniques in which one or more significant inputs are unobservable. The Company has investments in money market accounts, which are included in cash and cash equivalents on the consolidated balance sheets. Fair value inputs for these investments are considered Level 1 measurements within the fair value hierarchy, as money market account fair values are known and observable through daily published floating net asset values.
Annual Bonus Incentive Plan	Annual Bonus Incentive Plan Stock Compensation
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification 606 (“ASC 606”), Revenue from Contracts with Customers ● Identification of the contract, or contracts, with a client; ● Identification of the performance obligation in the contract; ● Determination of transaction price; ● Allocation of the transaction price to the performance obligations in the contract; and ● Recognition of revenue when, or as, performance obligations are satisfied. Platform subscriptions revenues Platform subscriptions revenues consist primarily of user fees to provide our clients access to our cloud-based solution. Fees consider various components such as number of users, connectivity, trading volume, data usage and product coverage. Platform subscriptions clients do not have the right to take possession of the platform’s software and do not have any general return right. Platform subscriptions revenues are recognized ratably over the period of contractually enforceable rights and obligations, beginning on the date the client gains access to the platform. Installed payments are generally invoiced at the end of each calendar month during the subscription term. There is no financing available. Managed services revenues Managed services revenues primarily consist of client-selected middle- and back-office, technology-powered services. Managed services revenues are recognized ratably over the period of contractually enforceable rights and obligations, beginning on the contract effective date. Clients are invoiced a set fee for managed services typically at the end of each month. Generally, invoices have a 30-day payment period in accordance with the associated contract. There is no financing available. Other revenues Other revenues consist of non-subscription-based revenues primarily data conversion. The Company recognizes revenues as these services are performed with invoicing generally occurring at the end of each month. Service contracts with multiple performance obligations Certain of the Company’s contracts provide for customers to be charged a fee for implementation services. In determining whether the implementation services, which frequently include configuration and/or interfacing, customer reporting, customizing user permissions and acceptance testing, end-user training, and establishing connections with third-party interfaces, are distinct from its platform subscription services, the Company considers, in addition to their complexity and level of customization, that these services are integral in delivering the customer desired output and are necessary for the customer to access and begin to use the hosted application. The implementation provider must be intimately familiar with its platform to effectively execute the customization required, and no other entities have access to the source code. The Company has concluded that the implementation services in its service contracts with multiple performance obligations are not distinct, and therefore, the Company recognizes fees for implementation services ratably over the non-cancelable term of the contract. Remaining performance obligations For the Company’s contracts that exceed one year and do not include a termination for convenience clause, the amount of the transaction price allocated to remaining performance obligations as of December 31, 2023 was $29.1 million and is expected to be recognized based on the below schedule (in thousands). ​ ​ ​ ​ Remaining Performance Obligation ​ December 31, 2023 2024 ​ $ 18,227 2025 ​ 8,845 2026 ​ 1,986 2027 ​ 64 2028 ​ ​ — Total ​ $ 29,122 ​ Disaggregation of revenue The Company’s total revenues by geographic region, based on the client’s physical location is presented in the following table (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ Geographic Region Amount Percent Amount Percent ​ Amount Percent ​ Americas* ​ $ 108,506 62.1 % $ 95,122 63.3 % $ 72,994 65.3 % Europe, Middle East, and Africa (EMEA) ​ 26,122 15.0 % 20,051 13.3 % 13,491 12.1 % Asia Pacific (APAC) ​ 39,907 22.9 % 35,176 23.4 % 25,215 22.6 % Total revenues ​ $ 174,535 100.0 % $ 150,349 100.0 % $ 111,700 100.0 % ​ * Includes revenues from clients based in the United States (country of domicile) of $104.5 million, $92.8 million, and $71.9 million for the years ended December 31, 2023, 2022, and 2021, respectively. Deferred commissions The Company pays sales commissions for initial contracts and expansions of existing contracts with customers. These commissions earned by certain of its sales force are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions paid where the amortization period is one year or less are expensed as incurred. All other sales commissions are deferred and then amortized on a straight-line basis over a period of benefit that the Company has determined to be three years. The Company determined the period of benefit by taking into consideration its standard contract terms and conditions, rate of technological change, and other factors. Amortization expense is included in sales and marketing expenses in the accompanying consolidated statements of operations. The balance of deferred commissions as of December 31, 2023 and December 31, 2022 was $3.5 million and $2.8 million, respectively, and is included in other assets on the consolidated balance sheets. The amount of amortization expense recognized during the years ended December 31, 2023, 2022, and 2021 was $1.4 million, $845 thousand, and $228 thousand, respectively.
Cost of Revenues	Cost of Revenues Cost of revenues consists primarily of personnel-related costs associated with the delivery of the Company’s software and services, including base salaries, bonuses, employee benefits and related costs. Additionally, cost of revenues includes amortization of capitalized software development costs, allocated overhead and certain direct data and hosting costs.
Technology and Development	Technology and Development Technology and development expenses consist primarily of employee-related expenses for the Company’s software development. Additional expenses include costs related to the development, maintenance, quality assurance and testing of new technologies, and ongoing refinement of the Company’s existing solutions. Technology and development expenses, other than software development costs qualifying for capitalization, including costs associated with preliminary project stage activities, training, maintenance, and all other post-implementation stage activities are expensed as incurred.
Advertising Costs	Advertising Costs The Company expenses advertising costs as incurred. Advertising costs incurred were approximately $1.5 million, $1.5 million, and $1.2 million during the years ended December 31, 2023, 2022, and 2021, respectively.
Stock-Based Compensation	Stock-Based Compensation In October 2021, in connection with the IPO, the Company adopted the 2021 Stock Option and Incentive Plan, (the “2021 Plan”). The 2021 Plan allows the Company’s Compensation Committee to make incentive awards to its officers, employees, directors, and service providers. The Company also adopted the 2021 Employee Stock Purchase Plan (the “2021 ESPP”). The Company measures stock-based compensation expense for its share-based payment awards at fair value on the grant date. The fair value of share-based payment awards is determined using the fair market value of the underlying Class A common stock on the date of grant. The Company applied a discount for lack of marketability, estimated using the Finnerty Model, to the fair value of awards with post-vesting restrictions, which includes the vested shares of Class A common stock and the Contingently Issuable Shares (as defined below) issued on the IPO effectiveness date (as defined below). For restricted stock units (“RSUs”) for which vesting is subject to the achievement of a market condition, the Company determines the fair value of these RSUs using the Monte Carlo method. The Monte Carlo simulations used to estimate the fair value include subjective assumptions, including the fair value of the underlying common stock, expected volatility of the price of the Company’s common stock, risk-free interest rate, expected dividend yield of common stock, and the Company’s cost of equity capital. The Company records forfeitures as they occur. The cost of services received from employees and non-employees in exchange for awards of equity instruments is recognized in the consolidated statements of operations based on the estimated fair value of those awards on the grant date or reporting date, if required to be remeasured, and amortized on a straight-line basis over the requisite service period.
Income (Loss) Per Share	Income (Loss) Per Share Income (loss) per share is computed by dividing net income (loss) attributable to the Company by the number of weighted average shares of Class A common stock outstanding during the period. Diluted income (loss) per share is computed by dividing net income (loss) attributable to the Company by the number of weighted-average shares of Class A common stock outstanding during the period after adjusting for the impact of securities that would have a dilutive effect on income (loss) per share. See Note 12, Income (Loss) Per Class A Common Share, All income (loss) for the period prior to the IPO were entirely allocable to Enfusion Ltd. LLC. and its historic non-controlling interest. Due to the impact of the Reorganization Transactions, the Company’s capital structure for the pre- and post-IPO periods is not comparable. As a result, the presentation of income (loss) per share for the periods prior to the IPO and Reorganizational Transactions is not meaningful and only income (loss) per share for the period subsequent to the IPO and Reorganizational Transactions is presented herein.
Non-controlling interest	Non-Controlling Interest Non-controlling interests represent the portion of profit or loss, net assets, and comprehensive income (loss) of its consolidated subsidiaries that are not allocable to the Company based on its percentage of ownership of such entities.
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method, and deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying values of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and deferred tax liabilities is recognized in income in the period that includes the enactment date. The Company recognizes deferred tax assets to the extent that it is believed that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, carryback potential if permitted under the tax law, and results of recent operations. A valuation allowance is provided if it is determined that it is more likely than not that the deferred tax asset will not be realized. The Company evaluates and accounts for uncertain tax positions using a two-step approach. Recognition (step one) occurs when the Company concludes that a tax position, based solely on its technical merits, is more-likely-than-not to be sustainable upon examination. Measurement (step two) determines the amount of tax benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. Derecognition of a tax position that was previously recognized would occur when the Company subsequently determines that a tax position no longer meets the more-likely-than-not threshold of being sustained. The Company records interest (and penalties where applicable), net of any applicable related income tax benefit, on potential income tax contingencies as a component of income tax expense in the consolidated statements of operations.
Tax Receivable Agreement (TRA)	Tax Receivable Agreement (TRA) The Company accounts for amounts payable under the Tax Receivable Agreement in accordance with ASC 450, Contingencies
Concentration of Risk	Concentration of Risk Deposits with Financial Institutions The Company has concentrated its credit risk for cash by maintaining deposits in several financial institutions, which may at times exceed amounts covered by insurance provided by the Federal Deposit Insurance Corporation. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk related to cash. Accounts Receivable As of December 31, 2023, the Company had one individual client that represented 10% or more of accounts receivables. For the years ended December 31, 2023, 2022, and 2021, no individual client represented more than 10% of the Company’s total revenues.
Translation of Foreign Currencies	Translation of Foreign Currencies Assets and liabilities denominated in the functional currency of the Company’s international subsidiaries are translated to its reporting currency using the exchange rates in effect at the balance sheet date. Results from operations are translated using the average exchange rates prevailing throughout the year. The effects of exchange rate fluctuations on translating foreign currency assets and liabilities into U.S. dollars are accumulated as part of the foreign currency translation adjustment in accumulated other comprehensive loss in the consolidated balance sheets. Foreign currency balances for monetary assets and liabilities are remeasured into the entity’s functional currency at the balance sheet date, and fluctuations in value are recorded within other income (expense) in the consolidated statements of operations.
Recently Adopted Pronouncements/Recent Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13 and ASU 2018-19, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments January 1, 2023 recognized the cumulative effect of initially applying the guidance as a $149 thousand addition to its existing reserve with an offsetting adjustment to accumulated deficit. Recent Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topics 740): Improvements to Income Tax Disclosures

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies
Schedule of accounts receivable allowance for credit loss	The Company's allowance for credit losses is as follows (in thousands): ​ ​ ​ ​ Balance at December 31, 2021 ​ $ 791 Changes to the provision ​ 1,158 Accounts written off, net of recoveries ​ ​ (724) Balance at December 31, 2022 ​ ​ 1,225 Adoption of ASU 2016-13 ​ ​ 149 Changes to the provision ​ ​ 705 Accounts written off, net of recoveries ​ ​ (987) Balance at December 31, 2023 ​ $ 1,092
Schedule of property, plant and equipment useful life	​ ​ ​ Property, Equipment, and Software Asset Type Estimated Useful Lives Software development costs 3 years Computers 3 years Furniture, fixtures, and equipment 5 years Leasehold improvements Shorter of estimated economic useful life or remaining lease term
Schedule of remaining performance obligation	For the Company’s contracts that exceed one year and do not include a termination for convenience clause, the amount of the transaction price allocated to remaining performance obligations as of December 31, 2023 was $29.1 million and is expected to be recognized based on the below schedule (in thousands). ​ ​ ​ ​ Remaining Performance Obligation ​ December 31, 2023 2024 ​ $ 18,227 2025 ​ 8,845 2026 ​ 1,986 2027 ​ 64 2028 ​ ​ — Total ​ $ 29,122
Schedule of total net revenues by geographic region	The Company’s total revenues by geographic region, based on the client’s physical location is presented in the following table (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2023 ​ 2022 ​ 2021 ​ Geographic Region Amount Percent Amount Percent ​ Amount Percent ​ Americas* ​ $ 108,506 62.1 % $ 95,122 63.3 % $ 72,994 65.3 % Europe, Middle East, and Africa (EMEA) ​ 26,122 15.0 % 20,051 13.3 % 13,491 12.1 % Asia Pacific (APAC) ​ 39,907 22.9 % 35,176 23.4 % 25,215 22.6 % Total revenues ​ $ 174,535 100.0 % $ 150,349 100.0 % $ 111,700 100.0 % ​ * Includes revenues from clients based in the United States (country of domicile) of $104.5 million, $92.8 million, and $71.9 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Property, Equipment, and Soft_2

Property, Equipment, and Software, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Equipment, and Software, Net
Schedule of Property, equipment, and software, net	Property, equipment, and software, net consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 2022 Computer equipment ​ $ 17,384 ​ $ 17,496 Software development costs ​ 15,842 ​ 9,406 Leasehold improvements ​ 1,668 ​ 1,831 Furniture and fixtures ​ 137 ​ 433 Total property, equipment, and software, cost ​ 35,031 ​ 29,166 Less accumulated depreciation and amortization ​ (16,717) ​ (13,407) Total property, equipment, and software, net ​ $ 18,314 ​ $ 15,759

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Accrued Expenses and Other Current Liabilities
Schedule of accrued expenses and other current liabilities	Accrued expenses and other current liabilities consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 2022 Accrued compensation ​ $ 10,058 ​ $ 10,268 Accrued expenses and other ​ 1,385 ​ 1,112 Accrued taxes ​ 2,398 ​ 285 Total accrued expenses and other current liabilities ​ $ 13,841 ​ $ 11,665

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases
Schedule of lease commitments	​ ​ ​ ​ ​ ​ ​ ​ Amount 2024 ​ ​ 5,197 2025 ​ ​ 4,198 2026 ​ ​ 3,229 2027 ​ ​ 3,253 2028 ​ ​ 1,671 Thereafter ​ ​ 654 Total lease commitments ​ $ 18,202 Less: Interest ​ ​ (2,765) Present value of lease liabilities ​ $ 15,437
Schedule of components of operating lease cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 ​ 2022 Operating lease cost ​ $ 6,882 ​ $ 5,053 Variable lease cost ​ ​ 835 ​ ​ 828 Short-term lease cost ​ ​ 114 ​ ​ — Total lease cost ​ $ 7,831 ​ $ 5,881
Schedule of weighted-average remaining lease terms and discount rates	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 ​ 2022 Weighted-average remaining lease term - operating leases ​ ​ 3.80 years ​ ​ 1.84 years Weighted-average discount rate - operating leases ​ ​ 7.80% ​ ​ 4.43%

Management Incentive Plan and_2

Management Incentive Plan and Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of stock compensation expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, (in thousands) ​ 2023 ​ 2022 ​ 2021 Cost of revenues ​ $ 950 ​ $ 1,421 ​ $ 377 General and administrative ​ ​ 5,635 ​ ​ 14,130 ​ ​ 112,829 Sales and marketing ​ ​ (984) ​ ​ 5,875 ​ ​ 36,312 Technology and development ​ ​ 1,857 ​ ​ 3,567 ​ ​ 140,285 Total stock-based compensation expense ​ $ 7,458 ​ $ 24,993 ​ $ 289,803
Schedule of share-based payment award activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ IPO Vested Class A Common Stock, Contingently Issuable Shares and RSUs ​ Options ​ ​ Number of Units Weighted-Average Grant-Date Fair Value Number of Options ​ Weighted-Average Exercise Price ​ Weighted-Average Remaining Contractual Term (in years) Outstanding as of December 31, 2022 ​ 20,224,452 ​ $ 15.15 ​ 44,000 ​ ​ 9.86 ​ 9.46 Vested as of December 31, 2022 ​ 17,225,377 ​ ​ ​ ​ - ​ ​ - ​ ​ Unvested as of December 31, 2022 ​ 2,999,075 ​ ​ ​ ​ 44,000 ​ ​ 9.86 ​ ​ Granted during the period ​ 1,925,762 ​ $ 8.49 ​ 71,004 ​ ​ 11.06 ​ ​ Forfeited during the period ​ (584,178) ​ ​ 15.32 ​ (31,474) ​ ​ 10.15 ​ ​ Vested and issued during the period (a) ​ (18,374,139) ​ ​ 15.27 ​ - ​ ​ - ​ ​ Outstanding as of December 31, 2023 (b) ​ 3,191,897 ​ $ 9.61 ​ 83,530 ​ $ 10.77 ​ 8.89 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Includes shares issued and net settled to satisfy tax withholding obligations. (b) December 31, 2023 balance is all unvested. ​
Performance-Based Restricted Stock Units ("RSUs")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of assumptions	​ ​ ​ ​ ​ ​ ​ ​ Assumptions ​ 2023 ​ 2022 ​ 2021 Fair value of common stock (per share) ​ $9.89 ​ $8.92 ​ $17.00 Expected volatility ​ 41.65% ​ 53.40% ​ 48.20% Risk-free rate ​ 4.38% ​ 3.98% ​ 1.65% Dividend yield ​ 0.00% ​ 0.00% ​ 0.00% Cost of equity capital ​ 14.10% ​ 13.50% ​ 11.20%
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of assumptions	​ ​ ​ ​ ​ ​ Assumptions ​ 2023 ​ 2022 Expected volatility ​ 60.91% ​ 64.54% Expected term of award ​ 6.5 years ​ 6.5 years Risk-free rate ​ 3.82% ​ 3.39% Dividend yield ​ 0.00% ​ 0.00%

Net Income (Loss) Per Class A_2

Net Income (Loss) Per Class A Common Share (Tables)	12 Months Ended
	Dec. 31, 2023
Net Income (Loss) Per Class A Common Share
Schedule of reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, (in thousands, except per share amounts) ​ 2023 2022 ​ 2021 Net income (loss) ​ $ 9,253 ​ $ (13,263) ​ $ (282,242) Less: Net income attributable to Enfusion, Inc. prior to the IPO ​ ​ - ​ ​ - ​ ​ (12,892) Less: Net (income) loss attributable to non-controlling interests ​ ​ (3,228) ​ ​ 5,609 ​ ​ 123,925 Net income (loss) attributable to Enfusion, Inc. ​ $ 6,025 ​ $ (7,654) ​ $ (171,209) Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) attributable to Enfusion, Inc. ​ $ 6,025 ​ $ (7,654) ​ $ (171,209) Adjustment to loss attributable to common stockholders ​ ​ 306 ​ ​ (954) ​ ​ (16,580) Numerator for Basic Earnings per Share ​ $ 6,331 ​ $ (8,608) ​ $ (187,789) Adjustment to Income for Dilutive Shares ​ ​ 2,922 ​ ​ - ​ ​ - Numerator for Diluted Earnings per Share ​ $ 9,253 ​ $ (8,608) ​ $ (187,789) Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average shares of Class A common stock outstanding ​ ​ 80,828 ​ ​ 67,057 ​ ​ 65,583 Vested shares of Class A common stock and RSUs ​ ​ 7,374 ​ ​ 18,336 ​ ​ 17,462 Weighted-average shares of Class A common stock outstanding--basic ​ ​ 88,202 ​ ​ 85,393 ​ ​ 83,045 Add: Dilutive Shares ​ ​ 41,227 ​ ​ - ​ ​ - Weighted-average shares of Class A common stock outstanding--diluted ​ ​ 129,429 ​ ​ 85,393 ​ ​ 83,045 Net income (loss) per share of Class A common stock--Basic ​ $ 0.07 ​ $ (0.10) ​ $ (2.26) Net income (loss) per share of Class A common stock--Diluted ​ $ 0.07 ​ $ (0.10) ​ $ (2.26)
Schedule of effect of dilutive shares antidilutive	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, (in thousands) ​ 2023 2022 ​ 2021 Class B common stock ​ ​ - ​ ​ 43,199 ​ ​ 47,471 Contingently issuable shares of Class A common stock ​ ​ - ​ ​ - ​ ​ 1,726 Restricted stock units ​ ​ 1,048 ​ ​ 2,999 ​ ​ 2,905 Stock options ​ ​ 84 ​ ​ 44 ​ ​ - ​ ​ ​ 1,132 ​ ​ 46,242 ​ ​ 52,102

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Taxes
Schedule of components of income (loss) before income taxes	The components of income (loss) before income taxes were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2023 2022 ​ 2021 U.S. ​ $ 5,503 ​ $ (16,201) ​ $ (279,990) Foreign ​ 5,981 ​ 4,012 ​ (1,673) Total ​ $ 11,484 ​ $ (12,189) ​ $ (281,663)
Schedule of components of income tax expense (benefit)	As a result of the Reorganization Transactions, the Company is now taxed as a corporation and subject to U.S. federal, state, local and foreign taxes. Significant components of income tax expense (benefit) were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2023 2022 ​ 2021 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Federal ​ $ (5) ​ $ — ​ $ — State & Local ​ ​ 53 ​ ​ — ​ ​ — Foreign ​ ​ 2,190 ​ ​ 1,347 ​ ​ 228 Total Current Income Tax Expense ​ ​ 2,238 ​ ​ 1,347 ​ ​ 228 Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Federal ​ ​ — ​ ​ — ​ ​ — State & Local ​ ​ — ​ ​ — ​ ​ — Foreign ​ ​ (7) ​ ​ (273) ​ ​ 351 Total Deferred Income Tax Expense (Benefit) ​ (7) ​ (273) ​ 351 Total ​ $ 2,231 ​ $ 1,074 ​ $ 579
Schedule of reconciliation of the U.S. statutory income tax rate to our effective income tax rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2023 2022 ​ 2021 ​ At U.S. Federal Statutory Tax Rate ​ ​ 21.0 % ​ 21.0 % ​ 21.0 % State Tax, Net of Federal Benefit ​ ​ 38.9 % ​ 3.1 % ​ 4.3 % Non-controlling Interest ​ ​ (7.3) % ​ (8.9) % ​ (9.2) % Foreign Branch Taxes ​ ​ 10.9 % ​ (8.2) % ​ (0.3) % Stock-Based Compensation ​ ​ 113.5 % ​ (10.6) % ​ (2.5) % Foreign Rate Differential ​ ​ 0.3 % ​ 0.5 % ​ — % Valuation Allowance ​ ​ (168.8) % ​ 50.6 % ​ (14.5) % Change in Tax Rates ​ ​ 1.9 % ​ (59.2) % ​ — % Return to Provision ​ ​ 6.5 % ​ 4.0 % ​ 0.1 % Unrecognized Tax Benefit ​ ​ 2.1 % ​ — % ​ — % Pass-through Loss (Income) ​ ​ — % ​ — % ​ 0.9 % Other ​ ​ 0.4 % ​ (1.1) % ​ — % Total ​ ​ 19.4 % ​ (8.8) % ​ (0.2) %
Schedule of components of deferred tax assets and liabilities	The components of deferred tax assets and liabilities are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 2022 Deferred Tax Assets: ​ ​ ​ ​ ​ ​ Investment in Enfusion Ltd. LLC ​ $ 126,504 ​ $ 86,117 Stock-Based Compensation ​ ​ 1,542 ​ ​ 37,912 Net Operating Losses ​ ​ 11,410 ​ ​ 9,358 Other ​ ​ 851 ​ ​ 794 Total Deferred Tax Assets ​ ​ 140,307 ​ ​ 134,181 Valuation Allowance ​ ​ (140,307) ​ ​ (133,689) Total Deferred Tax Assets Net of Valuation Allowance ​ ​ — ​ ​ 492 Deferred Tax Liabilities: ​ ​ ​ ​ ​ ​ Property and Equipment ​ ​ (70) ​ ​ (77) Total Deferred Tax Liabilities ​ (70) ​ (77) Net Deferred Tax Assets ​ $ (70) ​ $ 415
Schedule of valuation allowance for deferred tax assets	The changes in the Company’s valuation allowance for deferred tax assets were as follows (in thousands): ​ ​ ​ ​ Year Ended December 31, 2021 ​ $ 124,526 Charged to Income Tax Expense ​ ​ (6,163) Charged to Stockholders' Equity ​ 15,326 Year Ended December 31, 2022 ​ $ 133,689 Charged to Income Tax Expense ​ ​ (19,381) Charged to Stockholders' Equity ​ ​ 25,999 Year Ended December 31, 2023 ​ $ 140,307
Schedule of company's uncertain tax positions	A summary of the Company’s unrecognized tax benefits are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2023 2022 ​ 2021 Beginning balance ​ $ 119 ​ $ 119 ​ $ — Increases for tax positions related to the current year ​ ​ — ​ ​ — ​ ​ 30 Increases (decreases) for tax positions of prior years ​ 238 ​ — ​ 89 Expiration of statute of limitations ​ ​ (41) ​ ​ — ​ ​ — Ending balance ​ $ 316 ​ $ 119 ​ $ 119 Interest and penalties ​ ​ 128 ​ ​ 65 ​ ​ 65

Organization and Description _2

Organization and Description of Business (Details)	12 Months Ended
	Dec. 31, 2023 subsidiary
Number of wholly-owned subsidiaries	3
Enfusion LLC
Ownership percentage	69.30%

Basis of Presentation (Details)

Basis of Presentation (Details)	12 Months Ended
	Dec. 31, 2023 segment
Basis of Presentation
Number of operating segments	1

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) customer	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Investment in money market accounts.	$ 30,000	$ 50,000
Payment of fees upon invoice	30 days
Unbilled accounts receivable	$ 2,400	2,000
Contract assets, unbilled accounts receivable	1,700	1,500
Impairment of long-lived assets	0	0	$ 0
Deferred commissions	3,500	2,800
Amortization expense	1,400	845	228
Advertising cost	1,500	1,500	1,200
Allowance for credit losses	1,092	1,225	$ 791
Accumulated deficit	$ (172,932)	$ (178,863)
Major Customer | Revenues | Customer Concentration Risk
Number of customers	0	0	0
Major Customer | Accounts Receivable | Customer Concentration Risk
Number of customers | customer	1
Accounting Standards Update 2016-13 | Cumulative impact of adopting ASU 2016-13
Allowance for credit losses		$ 149
Accumulated deficit		$ (149)
Enfusion LLC
Ownership percentage	69.30%
Ownership percentage by noncontrolling owners	30.70%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Allowances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss
Beginning balance	$ 1,225	$ 791
Changes to the provision	705	1,158
Accounts written off, net of recoveries	(987)	(724)
Ending balance	1,092	1,225
Cumulative impact of adopting ASU 2016-13 | Accounting Standards Update 2016-13
Accounts Receivable, Allowance for Credit Loss
Beginning balance	$ 149
Ending balance		$ 149

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Useful life of property plant and equipment (Details)	Dec. 31, 2023
Software development costs
Property, Equipment, and Software, Net
Useful life	3 years
Computers
Property, Equipment, and Software, Net
Useful life	3 years
Furniture, fixtures, and equipment
Property, Equipment, and Software, Net
Useful life	5 years
Leasehold improvements
Property, Equipment, and Software, Net
Useful life	us-gaap:UsefulLifeTermOfLeaseMember

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Remaining Performance Obligation (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue remaining performance obligation	$ 29,122
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue remaining performance obligation	$ 18,227
Remaining performance obligation satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue remaining performance obligation	$ 8,845
Remaining performance obligation satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue remaining performance obligation	$ 1,986
Remaining performance obligation satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue remaining performance obligation	$ 64
Remaining performance obligation satisfaction period	1 year

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Disaggregation of revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue
Total revenues	$ 174,535	$ 150,349	$ 111,700
Revenues | Geographic Region
Disaggregation of Revenue
Total revenues	$ 174,535	$ 150,349	$ 111,700
Total net revenues percent	100%	100%	100%
Americas* | Revenues | Geographic Region
Disaggregation of Revenue
Total revenues	$ 108,506	$ 95,122	$ 72,994
Total net revenues percent	62.10%	63.30%	65.30%
Europe, Middle East, and Africa (EMEA) | Revenues | Geographic Region
Disaggregation of Revenue
Total revenues	$ 26,122	$ 20,051	$ 13,491
Total net revenues percent	15%	13.30%	12.10%
Asia Pacific (APAC) | Revenues | Geographic Region
Disaggregation of Revenue
Total revenues	$ 39,907	$ 35,176	$ 25,215
Total net revenues percent	22.90%	23.40%	22.60%
United States
Disaggregation of Revenue
Total revenues	$ 104,500	$ 92,800	$ 71,900

Property, Equipment, and Soft_3

Property, Equipment, and Software, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Equipment, and Software, Net
Total property, equipment, and software, cost	$ 35,031	$ 29,166
Less accumulated depreciation and amortization	(16,717)	(13,407)
Total property, equipment, and software, net	18,314	15,759
Computer equipment
Property, Equipment, and Software, Net
Total property, equipment, and software, cost	17,384	17,496
Software development costs
Property, Equipment, and Software, Net
Total property, equipment, and software, cost	15,842	9,406
Leasehold improvements
Property, Equipment, and Software, Net
Total property, equipment, and software, cost	1,668	1,831
Furniture and fixtures
Property, Equipment, and Software, Net
Total property, equipment, and software, cost	$ 137	$ 433

Property, Equipment, and Soft_4

Property, Equipment, and Software, Net- Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Equipment, and Software, Net
Property, equipment, and software, net	$ 18,314	$ 15,759
Capitalized software development costs	6,400	4,500
Depreciation and amortization expense	5,100	3,300	$ 2,400
Amortization expense related to software development costs	3,400	2,200	$ 1,300
United States
Property, Equipment, and Software, Net
Property, equipment, and software, net	$ 17,000	$ 13,700

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accrued Expenses and Other Current Liabilities
Accrued compensation	$ 10,058	$ 10,268
Accrued expenses and other	1,385	1,112
Accrued taxes	2,398	285
Total accrued expenses and other current liabilities	13,841	11,665
Accrued compensation includes bonuses due to employees	$ 6,400	$ 7,800

Leases - Narratives (Details)

Leases - Narratives (Details) - lease	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases
Option to renew the lease	true
Option to terminate the lease	true
Number of finance leases	0	0

Leases - Lease Commitments (Det

Leases - Lease Commitments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases
2024	$ 5,197
2025	4,198
2026	3,229
2027	3,253
2028	1,671
Thereafter	654
Total lease commitments	18,202
Less: Interest	(2,765)
Present value of lease liabilities	$ 15,437

Leases - Components of Operatin

Leases - Components of Operating Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases
Operating lease cost	$ 6,882	$ 5,053
Variable lease cost	835	828
Short-term lease cost	114
Total lease cost	$ 7,831	$ 5,881

Leases - Weighted-average remai

Leases - Weighted-average remaining lease terms and discount rates (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases
Weighted-average remaining lease term (in years)	3 years 9 months 18 days	1 year 10 months 2 days
Weighted-average discount rate (as percentage)	7.80%	4.43%

Leases - Operating Leases and S

Leases - Operating Leases and Service Agreements (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Leases
Expense related to lease arrangements	$ 3.9
Expense related to service agreements	$ 1.1

Debt - New Credit Agreement (De

Debt - New Credit Agreement (Details) - New Credit Agreement - USD ($)		12 Months Ended
	Sep. 15, 2023	Dec. 31, 2023	Feb. 29, 2024
Debt
Additional borrowing capacity	$ 50,000,000
Minimum balance to be maintained at bank as per agreement	$ 5,000,000
Outstanding borrowings		$ 0
Subsequent Event
Debt
Minimum balance to be maintained at bank as per agreement			$ 5,000,000
Maximum
Debt
Number of days to establish minimum balance with bank	120 days
Senior secured revolving loan facility
Debt
Maximum borrowing capacity	$ 100,000,000
Percentage of unused commitment fee		0.20%
Senior secured revolving loan facility | Minimum
Debt
Percentage of unused commitment fee	0.20%
Senior secured revolving loan facility | Maximum
Debt
Percentage of unused commitment fee	0.25%
Senior secured revolving loan facility | Secured Overnight Financing Rate
Debt
Basis points added to variable interest rate	0.10%
Senior secured revolving loan facility | Secured Overnight Financing Rate | Minimum
Debt
Interest rate	2%
Senior secured revolving loan facility | Secured Overnight Financing Rate | Maximum
Debt
Interest rate	2.75%
Senior secured revolving loan facility | Base Rate | Minimum
Debt
Interest rate	1%
Senior secured revolving loan facility | Base Rate | Maximum
Debt
Interest rate	1.75%
Senior secured revolving loan facility | Federal funds rate
Debt
Interest rate	0.50%
Senior secured revolving loan facility | One month adjusted term SOFR
Debt
Interest rate	1%
Letters of credit
Debt
Maximum borrowing capacity	$ 10,000,000
Swingline subfacility
Debt
Maximum borrowing capacity	$ 10,000,000

Debt - Prior Credit Agreement (

Debt - Prior Credit Agreement (Details) - USD ($)		12 Months Ended
	Sep. 15, 2023	Dec. 31, 2023	Dec. 31, 2021
Debt
Loss on extinguishment of debt		$ 78,000	$ 1,215,000
Prior Credit Agreement | Senior secured revolving loan facility
Debt
Facility terminated	$ 5,000,000
Outstanding borrowings	0
Loss on extinguishment of debt	$ 78,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) $ / shares in Units, $ in Millions							1 Months Ended
	Aug. 14, 2023 USD ($) $ / shares shares	Aug. 01, 2023 shares	Jul. 19, 2023 shares	Jun. 15, 2023 shares	Mar. 28, 2023 shares	Feb. 21, 2023 shares	Oct. 31, 2021	Dec. 31, 2023 Vote $ / shares shares	Dec. 31, 2022 $ / shares shares
Class of Stock [Line Items]
Preferred stock authorized								100,000,000	100,000,000
Common units surrendered by Pre-IPO unitholders (in shares)		1,000,000	1,000,000		1,000,000	1,000,000
Increase in common units (in shares)		1,000,000	1,000,000		1,000,000	1,000,000
Common Class A
Class of Stock [Line Items]
Common stock, shares authorized								1,000,000,000	1,000,000,000
Number of Voting Rights | Vote								1
Issuance of shares		1,000,000	1,000,000		1,000,000	1,000,000
Common stock par value (in dollars per share) | $ / shares								$ 0.001	$ 0.001
Common Class A | Related Party | FTV Investment Holdings
Class of Stock [Line Items]
Issuance of shares				1,200,000
Common Class B
Class of Stock [Line Items]
Common stock, shares authorized								150,000,000	150,000,000
Number of Voting Rights | Vote								1
Common stock par value (in dollars per share) | $ / shares								$ 0.001	$ 0.001
Private placement | Common Class A
Class of Stock [Line Items]
Issuance of shares	1,000,000
Common stock par value (in dollars per share) | $ / shares	$ 0.001
Price per share issued | $ / shares	$ 7.65
Net proceeds from issuance of shares | $	$ 7.6
Common Units
Class of Stock [Line Items]
Stock exchange ratio							1,000,000

Management Incentive Plan and_3

Management Incentive Plan and Stock-Based Compensation - Narratives (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 31, 2021	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Management Incentive Plans
Total equity-based compensation			$ 7,458	$ 24,993	$ 289,803
Capitalized stock compensation to capitalized software development costs			766	600
Stocks granted in conjunction with capitalizable activities					0
Unrecognized stock compensation expense		$ 19,700	$ 19,700
Stock based compensation recognition period			2 years
Restricted Stock Units
Management Incentive Plans
Total equity-based compensation			$ 7,300	$ 13,200	$ 4,500
Vesting period	4 years
Employee Stock Option
Management Incentive Plans
Options granted to employees			71,004	84,000
Weighted average grants in period			$ 11.06	$ 9.86
Stock options forfeited			31,474	40,000
Unrecognized stock compensation expense		$ 351	$ 351
Stock based compensation recognition period			2 years
Performance-Based Restricted Stock Units ("RSUs")
Management Incentive Plans
Granted during the period		580,000		250,000
Nonvested award option		$ 2,800	$ 2,800
Vesting period	10 years
Stock based compensation recognition period			2 years
Stock Option And Incentive Plan 2021
Management Incentive Plans
Percentage of Increase in Shares Outstanding Annually	3%
Common Class A | Share-based Payment Arrangement, Employee
Management Incentive Plans
Number of shares to be received in exchange for terminated employee agreements	2,047,064
Fair value of shares to be issued in exchange of termination of employment agreements	$ 31,200
Common Class A | IPO
Management Incentive Plans
Total equity-based compensation	$ 237,300
Common Class A | IPO | Contingently Issuable Shares
Management Incentive Plans
Total equity-based compensation			$ 0	$ 10,200	$ 16,700
Percentage of shares distributed				7.50%
Vesting period	1 year
Common Class A | Stock Option And Incentive Plan 2021
Management Incentive Plans
Shares, Authorized	26,400,000

Management Incentive Plan and_4

Management Incentive Plan and Stock-Based Compensation - Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Performance-Based Restricted Stock Units ("RSUs")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of common stock (per share)	$ 9.89	$ 8.92	$ 17
Expected volatility	41.65%	53.40%	48.20%
Risk-free rate	4.38%	3.98%	1.65%
Dividend yield	0%	0%	0%
Cost of equity capital	14.10%	13.50%	11.20%
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	60.91%	64.54%
Expected term of award	6 years 6 months	6 years 6 months
Risk-free rate	3.82%	3.39%
Dividend yield	0%	0%

Management Incentive Plan and_5

Management Incentive Plan and Stock-Based Compensation - Stock Compensation (Income) Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Management Incentive Plans
Total stock-based compensation expense	$ 7,458	$ 24,993	$ 289,803
Cost of revenues
Management Incentive Plans
Total stock-based compensation expense	950	1,421	377
General and administrative
Management Incentive Plans
Total stock-based compensation expense	5,635	14,130	112,829
Sales and marketing
Management Incentive Plans
Total stock-based compensation expense	(984)	5,875	36,312
Technology and development
Management Incentive Plans
Total stock-based compensation expense	$ 1,857	$ 3,567	$ 140,285

Management Incentive Plan and_6

Management Incentive Plan and Stock-Based Compensation - RSUs and Stock Options (Details) - $ / shares	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
IPO Vested Class A Common Stock and RSUs
Restricted Stock Units
Beginning balance		20,224,452
Granted during the period		1,925,762
Forfeited during the period		(584,178)
Vested and issued		(18,374,139)
Ending balance	3,191,897	3,191,897	20,224,452
Vested			17,225,377
Unvested			2,999,075
Weighted- Average Grant-Date Fair Value
Beginning balance		$ 15.15
Granted during the period		8.49
Forfeited during the period		15.32
Vested and issued		15.27
Ending Balance	$ 9.61	$ 9.61	$ 15.15
Performance-Based Restricted Stock Units ("RSUs")
Restricted Stock Units
Granted during the period	580,000		250,000
Employee Stock Option
Options
Beginning balance		44,000
Granted during the period		71,004	84,000
Forfeited during the period		(31,474)	(40,000)
Ending balance	83,530	83,530	44,000
Unvested			44,000
Weighted Average Exercise Price
Outstanding		$ 9.86
Granted during the period		11.06	$ 9.86
Forfeited during the period		10.15
Outstanding	$ 10.77	$ 10.77	9.86
Unvested			$ 9.86
Weighted Average Remaining Contractual Term (in years)		8 years 10 months 20 days	9 years 5 months 15 days

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Employee Benefit Plans
Contribution percent of employees	50%
Contribution percent of match	3%
Employer discretionary contribution Amount	$ 1,000	$ 584	$ 452

Net Income (Loss) Per Class A_3

Net Income (Loss) Per Class A Common Share - Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net Income (Loss) Per Class A Common Share
Net income (loss)	$ 9,253	$ (13,263)	$ (282,242)
Less: Net income attributable to Enfusion, Inc. prior to the IPO			(12,892)
Less: Net (income) loss attributable to non-controlling interests	(3,228)	5,609	123,925
Net loss attributable to Enfusion, Inc.	6,025	(7,654)	(171,209)
Numerator:
Net income (loss) attributable to Enfusion, Inc.	6,025	(7,654)	(171,209)
Adjustment to loss attributable to common stockholders	306	(954)	(16,580)
Numerator for Basic Earnings per Share	6,331	(8,608)	(187,789)
Adjustment to Income for Dilutive Shares	2,922
Numerator for Diluted Earnings per Share	$ 9,253	$ (8,608)	$ (187,789)
Denominator:
Weighted-average shares of Class A common stock outstanding	80,828	67,057	65,583
Vested shares of Class A common stock and RSUs	7,374	18,336	17,462
Weighted-average shares of Class A common stock outstanding--basic	88,202	85,393	83,045
Add: Dilutive Shares	41,227
Weighted-average shares of Class A common stock outstanding--diluted	129,429	85,393	83,045
Net income (loss) per share of Class A common stock--Basic	$ 0.07	$ (0.10)	$ (2.26)
Net income (loss) per share of Class A common stock--Diluted	$ 0.07	$ (0.10)	$ (2.26)

Net Income (Loss) Per Class A_4

Net Income (Loss) Per Class A Common Share - Dilutive shares (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Antidilutive securities amount	1,132	46,242	52,102
Common Class B
Antidilutive securities amount		43,199	47,471
Contingently issuable shares of Class A common stock
Antidilutive securities amount			1,726
Restricted Stock Units
Antidilutive securities amount	1,048	2,999	2,905
Employee Stock Option
Antidilutive securities amount	84	44

Income Taxes - Components of in

Income Taxes - Components of income (loss) before income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
U.S.	$ 5,503	$ (16,201)	$ (279,990)
Foreign	5,981	4,012	(1,673)
Income (loss) before income taxes	$ 11,484	$ (12,189)	$ (281,663)

Income taxes - Components of _2

Income taxes - Components of income tax expense (benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current tax (benefit) expense
U.S. Federal	$ (5)
State & Local	53
Foreign	2,190	$ 1,347	$ 228
Total Current Income Tax Expense	2,238	1,347	228
Deferred tax (benefit) expense
Foreign	(7)	(273)	351
Total Deferred Income Tax Expense (Benefit)	(7)	(273)	351
Total	$ 2,231	$ 1,074	$ 579

Income taxes - Effective income

Income taxes - Effective income tax rate reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
At U.S. Federal Statutory Tax Rate	21%	21%	21%
State Tax, Net of Federal Benefit	38.90%	3.10%	4.30%
Non-controlling Interest	(7.30%)	(8.90%)	(9.20%)
Foreign Branch Taxes	10.90%	(8.20%)	(0.30%)
Stock-Based Compensation	113.50%	(10.60%)	(2.50%)
Foreign Rate Differential	0.30%	0.50%
Valuation Allowance	(168.80%)	50.60%	(14.50%)
Change in Tax Rates	1.90%	(59.20%)
Return to Provision	6.50%	4%	0.10%
Unrecognized Tax Benefit	2.10%
Pass-through Loss (Income)			0.90%
Other	0.40%	(1.10%)
Total	19.40%	(8.80%)	(0.20%)

Income taxes - Narratives (Deta

Income taxes - Narratives (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating loss carryforwards
U.S. statutory tax rate (as a percent)	21%	21%	21%
Effective tax rate (as a percent)	19.40%	(8.80%)	(0.20%)
State tax expense (benefit)	$ 4.5	$ (0.4)	$ (12.1)
Tax (benefit) expense attributable to noncontrolling interest	(0.8)	1.1	25.9
Tax impact of equity-based compensation	13	1.3	2.5
Net deferred tax (expense) benefit	(19.4)	(6.2)	40.8
Foreign income taxes related to pre-tax income of its branch	1.3	1	0.6
Income tax expense (benefit) provision related to tax returns	0.8	(0.5)	$ (0.2)
Change in tax rates	$ 0.2	7.2
Percentage of Entity's Share of Tax Benefits Under Tax Receivable Agreement	85%
Percentage of Other's Share of Tax Benefits Under Tax Receivable Agreement	15%
Liability under the Tax Receivable Agreement	$ 96.5	83.2
Federal
Operating loss carryforwards
Net loss carryforward	43.1	33.2
State
Operating loss carryforwards
Net loss carryforward	$ 35.6	$ 31.2
Enfusion LLC
Operating loss carryforwards
Number of units purchased in connection with Pre-IPO	4,000,000	4,272,204
Tax basis increase in net assets under Tax Receivable Agreement	$ 46	$ 48.2

Income taxes - Components of de

Income taxes - Components of deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred Tax Assets
Investment in Enfusion Ltd. LLC	$ 126,504	$ 86,117
Stock-Based Compensation	1,542	37,912
Net Operating Losses	11,410	9,358
Other	851	794
Total Deferred Tax Assets	140,307	134,181
Valuation Allowance	(140,307)	(133,689)	$ (124,526)
Total Deferred Tax Assets Net of Valuation Allowance		492
Deferred Tax Liabilities
Property and Equipment	(70)	(77)
Total Deferred Tax Liabilities	(70)	(77)
Net Deferred Tax Assets		$ 415
Net Deferred Tax Liabilities	$ (70)

Income taxes - Valuation allowa

Income taxes - Valuation allowance for deferred tax assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Valuation allowance for deferred tax assets
Balance at the beginning	$ 133,689	$ 124,526
Charged to Income Tax Expense	(19,381)	(6,163)
Charged to Stockholders' Equity	25,999	15,326
Balance at the end	$ 140,307	$ 133,689

Income taxes - Unrecognized def

Income taxes - Unrecognized deferred taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Uncertain tax positions
Beginning balance	$ 119	$ 119
Increases for tax positions related to the current year		0	$ 30
Increases (decreases) for tax positions of prior years	238	0	89
Expiration of statute of limitations	(41)	0
Ending balance	316	119	119
Interest and penalties	$ 128	$ 65	$ 65

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ / shares in Units, $ in Thousands							3 Months Ended	12 Months Ended
	Aug. 01, 2023	Jul. 19, 2023	Jun. 27, 2023	Jun. 15, 2023	Mar. 28, 2023	Feb. 21, 2023	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2021
Related Party Transaction [Line Items]
Percentage of Entity's Share of Tax Benefits Under Tax Receivable Agreement								85%
Net proceeds from issuance of common stock								$ 17,322	$ 260,545
Related Party | FTV Enfusion Holdings, Inc
Related Party Transaction [Line Items]
Proceeds from income tax refunds							$ 1,500
Distributions to affiliates			$ 1,500
Common Class A
Related Party Transaction [Line Items]
Issuance of shares	1,000,000	1,000,000			1,000,000	1,000,000
Common Class A | Related Party | FTV Investment Holdings
Related Party Transaction [Line Items]
Issuance of shares				1,200,000
Share price (in dollars per share)				$ 8.12
Number of trading days preceding transaction				20 days
Net proceeds from issuance of common stock				$ 9,700
Common Class A | Related Party | FTV Fund IV
Related Party Transaction [Line Items]
Beneficial ownership percentage				5%

Subsequent Events (Details)

Subsequent Events (Details) - shares	Jan. 11, 2024	Aug. 01, 2023	Jul. 19, 2023	Mar. 28, 2023	Feb. 21, 2023
Subsequent Event
Common units surrendered by Pre-IPO unitholders (in shares)		1,000,000	1,000,000	1,000,000	1,000,000
Increase in common units (in shares)		1,000,000	1,000,000	1,000,000	1,000,000
Common Class A
Subsequent Event
Issuance of shares		1,000,000	1,000,000	1,000,000	1,000,000
Subsequent Event
Subsequent Event
Common units surrendered by Pre-IPO unitholders (in shares)	1,000,000
Increase in common units (in shares)	1,000,000
Subsequent Event | Common Class A
Subsequent Event
Issuance of shares	1,000,000

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 6,025	$ (7,654)	$ (158,317)

Insider Trading Arrangements

Insider Trading Arrangements - Oleg Movchan	3 Months Ended
	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Item 9B. Other Information Trading Arrangements Oleg Movchan, our Chief Executive Officer, adopted a pre-arranged stock trading plan (the “10b5-1 Plan”), dated December 5, 2023, that provides for the sale of up to 400,000 shares of our Class A common stock between March 14, 2024 and December 31, 2024 pursuant to the terms of his 10b5-1 Plan. The 10b5-1 Plan was designed to comply with the guidelines specified in Rule 10b5-1 promulgated under the Exchange Act and is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.
Name	Oleg Movchan
Title	Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 5, 2023
Termination Date	December 31, 2024
Aggregate Available	400,000