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Enfusion, Inc. (ENFN) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

Enfusion, Inc.

CIK: 1868912 Ticker: ENFN

 

Exhibit 99.1 

 

 

Enfusion Announces Fourth Quarter and Full Year 2021 Results

 

Strong Business Momentum Drove Fourth Quarter Revenue Growth of 41%

 

March 24, 2022

 

NEW YORK & LONDON & HONG KONG--(BUSINESS WIRE)--Enfusion, Inc. ("Enfusion") (NYSE: ENFN), a leading provider of cloud-based investment management software and services, today announced financial results for the fourth quarter and year ended December 31, 2021.

 

“We finished the year on a strong note, with growth across all our products and services” said Thomas Kim, Chief Executive Officer, Enfusion. “Our results validate our continued high growth and quality profitability. I’m especially pleased with the revenue growth accelerating to 40% in 2021. Investment Managers continue to choose Enfusion’s cloud-native SaaS solution to solve their evolving business needs and operational challenges. I’m excited with our momentum in the market and the unlocking of additional TAM. This success gives us confidence for an even stronger 2022.”

 

Fourth Quarter 2021 Financial Highlights:

 

Total revenue grew to $31.9 million, up 41% year over year led by new client signings and growth from existing clients.
Platform Subscriptions revenue grew to $28.9 million, up 39% year over year.
Managed Services revenue grew to $1.9 million, up 42% year over year primarily due to increased adoption from new and existing clients.
Income from Operations of ($292.5) million compared to ($11.9) million during the same period in the prior year.
Adjusted EBITDA was $3.2 million compared to $5.7 million during the same period in the prior year.
Net income was ($293.9) million compared to net income of ($12.2) million during the same period in the prior year.
Annual Recurring Revenue (ARR) for December 2021 was $127.1 million, up 36% from December 2020.
Net Dollar Retention Rate (NDR) excluding involuntary churn was 115% in the fourth quarter; NDR including involuntary churn was 111%.
Earnings per share was ($2.26) for the fourth quarter.

 

Full Year 2021 Financial Highlights:

 

Total revenue grew to $111.7 million, up 40% year over year
Platform Subscriptions revenue grew to $103.3 million, up 40% year over year.
Managed Services revenue grew to $7.1 million, up 60% year over year
Income from Operations of ($275.9) million compared to $6.1 million during the same period in the prior year.
Adjusted EBITDA was $22.9 million compared to $25.3 million during the same period in the prior year.
Net income was ($282.2) million compared to net income of $4.1 million during the same period in the prior year.
Earnings per share was ($2.26) for the year.

 

Fourth Quarter 2021 Business Highlights:

 

64 new clients added in the fourth quarter
Total clients equal to 734 as of December 31, 2021

 

First Quarter and Full Year 2022 Outlook:

 

Enfusion is providing the following guidance for the first quarter and full year 2022:

 

First Quarter 2022 Outlook:
oTotal revenue is expected to be in the range of $32.5 million to $33.5 million.
oAdjusted EBITDA is expected to be in the range of $6.3 million to $6.5 million.*

Full Year 2022 Outlook:
oTotal revenue is expected to be in the range of $147.0 million to $150.0 million.
oAdjusted EBITDA is expected to be in the range of $32.8 million to $33.8 million.*

 

*Adjusted EBITDA guidance excludes stock-based compensation of $12.8 million for the first quarter and $32.2 million for the full year 2022.

 


The following information was filed by Enfusion, Inc. (ENFN) on Thursday, March 24, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Enfusion, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive (Loss) Income
Consolidated Statements Of Operations
Consolidated Statements Of Preferred Units Stockholders' Equity, And Members' Deficit
Accrued Expenses And Other Current Liabilities
Accrued Expenses And Other Current Liabilities (Details)
Accrued Expenses And Other Current Liabilities (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Tables)
Debt - Components Of Debt Obligations (Details)
Debt - Narrative (Details)
Employee Benefit Plans
Employee Benefit Plans (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Components Of Income (Loss) Before Income Taxes (Details)
Income Taxes - Components Of Income Tax Expense (Benefit) (Details)
Income Taxes - Effective Income Tax Rate Reconciliation (Details)
Income Taxes - Narratives (Details)
Income Taxes - Unrecognized Deferred Taxes (Details)
Management Incentive Plan And Stock-Based Compensation
Management Incentive Plan And Stock-Based Compensation (Tables)
Management Incentive Plan And Stock-Based Compensation - Assumptions For Performance-Based Shares (Details)
Management Incentive Plan And Stock-Based Compensation - Equity-Based Compensation (Details)
Management Incentive Plan And Stock-Based Compensation - Narratives (Details)
Management Incentive Plan And Stock-Based Compensation - Restricted Stock Units (Details)
Net Income (Loss) Per Class A Common Share
Net Income (Loss) Per Class A Common Share (Tables)
Net Income (Loss) Per Class A Common Share - Diluted Net Loss Per Common Unit (Details)
Net Income (Loss) Per Class A Common Share - Dilutive Shares (Details)
Operating Leases And Service Agreements
Operating Leases And Service Agreements (Details)
Operating Leases And Service Agreements (Tables)
Organization And Description Of Business
Preferred Units Stockholders' Equity And Members' Deficit (Details)
Preferred Units Stockholders' Equity And Members' Deficit (Tables)
Preferred Units, Stockholders' Equity And Members' Deficit
Principles Of Consolidation And Basis Of Presentation
Principles Of Consolidation And Basis Of Presentation (Details)
Principles Of Consolidation And Basis Of Presentation - Ipo And Reorganization (Details)
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Property And Equipment, Net - Capitalized Software Development Costs (Details)
Property And Equipment, Net - Estimated Future Amortization Of Capitalized Software Development Costs (Details)
Related Party Transactions
Related Party Transactions (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Allowances (Details)
Summary Of Significant Accounting Policies - Disaggregation Of Revenue (Details)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Useful Life Of Property Plant And Equipment (Details)
Ticker: ENFN
CIK: 1868912
Form Type: 10-K Annual Report
Accession Number: 0001558370-22-004676
Submitted to the SEC: Wed Mar 30 2022 7:53:40 AM EST
Accepted by the SEC: Wed Mar 30 2022
Period: Friday, December 31, 2021
Industry: Prepackaged Software

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