Envestnet Reports Second Quarter 2010 Financial
Results
August 31, 2010 04:10 PM Eastern Daylight Time
CHICAGO--(EON: Enhanced Online News)--Envestnet, Inc. (NYSE: ENV), a leading independent provider of
technology-enabled investment and practice management solutions to financial advisors, today reported financial
results for its second quarter ended June 30, 2010.
Financial results for the second quarter of 2010 compared to the second quarter of 2009:
l Revenue increased 37% to $24.3 million for the second quarter of 2010 from $17.7 million for the second
quarter of 2009
l Net income attributable to common stockholders was $0.1 million, or $0.01 per diluted share, for the second
quarter of 2010 compared to $0.2 million, or $0.01 per diluted share, for the second quarter of 2009
l Adjusted EBITDA(1) increased 122% to $4.5 million for the second quarter of 2010 from $2.0 million for the
second quarter of 2009
l Adjusted Net Income(1) increased 190% to $1.8 million for the second quarter of 2010 from $0.6 million for
the second quarter of 2009
“We are very pleased with our second quarter results and the recent completion of our IPO,” said Jud Bergman,
founder and chief executive officer of Envestnet. “Our performance reflects Envestnet empowering a growing
number of advisors to better serve their clients with an integrated wealth management platform that enables the
fiduciary process.”
Key Operating Metrics as of June 30, 2010:
l Assets under Management (AUM) of $10.9 billion
l Assets under Administration (AUA) of $42.6 billion
l Accounts (AUM/A only) of 274,959
l Advisors (AUM/A only) of 12,871
The following table summarizes the changes in AUM and AUA for the quarter ended June 30, 2010:
The number of financial advisors with AUM or AUA that had client accounts on our technology platform increased
to 12,871 at June 30, 2010 from 8,465 at March 31, 2010. The increase in advisors and accounts, as well as the
positive net flows during the quarter were a result of the implem