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Investor Relations14 Oct 2025
Boost Your Earnings Season Strategy With Real‑Time Alerts
Quartr Pro provides real time alerts, trend analysis and live coverage, giving analysts and investors instant insights to act faster in earnings.
Envestnet (ENV) investor relations material
Envestnet Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2024 earnings summary7 Nov, 2024
Executive summary
Revenue for Q3 2024 increased 9% year-over-year to $345.9 million, driven by a 16% rise in asset-based recurring revenue, now 65% of total revenue.
Net loss attributable to Envestnet, Inc. was $1.7 million for Q3 2024, compared to net income of $7.1 million in Q3 2023, due to higher operating expenses and merger-related costs.
Adjusted EBITDA rose 23% year-over-year to $80.5 million, and adjusted net income per diluted share increased 25% to $0.70.
Free cash flow for Q3 2024 surged to $76.2 million from $9.4 million year-over-year.
Shareholders approved a merger with Bain Capital affiliates, with closing expected in Q4 2024.
Financial highlights
Nine-month revenue reached $1.02 billion, up 10% year-over-year; adjusted net income for the period was $122.3 million, up 26%.
Asset-based recurring revenue grew 16% year-over-year to $224.98 million in Q3 2024.
Subscription-based recurring revenue was $115.4 million, up slightly from $114.9 million in Q3 2023.
Total operating expenses increased 7% year-over-year, with direct expense up 13% and general and administrative expense up 27%.
Cash and cash equivalents stood at $193.4 million as of September 30, 2024, with $892.5 million in outstanding debt.
Outlook and guidance
The merger with Bain Capital is expected to close in Q4 2024, after which the company will become private.
Management expects continued positive cash flow and sufficient liquidity to fund operations and debt service over the next twelve months.
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Eferix Drawings Google Play
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Frequently asked questions
Envestnet, Inc. is a U.S.-based financial technology company providing integrated software and services for wealth management and financial advisory firms. The company offers a platform that supports portfolio management, financial planning, data aggregation, and analytics. Envestnet’s solutions help financial professionals deliver personalized advice, streamline operations, and enhance client engagement. The company is headquartered in Berwyn, Pennsylvania, and its shares are listed on the New York Stock Exchange.
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