Exhibit 99.1

Envestnet Reports First Quarter 2019 Financial Results

Chicago, IL — May 8, 2019 — Envestnet (NYSE: ENV), a leading provider of intelligent systems for wealth management and financial wellness, today reported financial results for its quarter ended March 31, 2019.

 
 
Three months ended
 
 
Key Financial Metrics
 
March 31,
 
%
(in millions except per share data)
 
2019
 
2018
 
Change
GAAP:
 
 
 
 
 
 
Total revenues
 
$
199.7

 
$
198.0

 
1%
Net income (loss)
 
$
(18.3
)
 
$
8.0

 
n/m
Net income (loss) per diluted share attributable to Envestnet, Inc.
 
$
(0.38
)
 
$
0.17

 
n/m
 
 
 
 
 
 
 
Non-GAAP:
 
 
 
 
 
 
Adjusted net revenues(1)
 
$
145.8

 
$
140.4

 
4%
Adjusted EBITDA(1)
 
$
34.0

 
$
32.8

 
4%
Adjusted net income(1)
 
$
19.4

 
$
17.7

 
10%
Adjusted net income per diluted share(1)
 
$
0.39

 
$
0.37

 
5%
 
 
 
 
 
 
 
n/m - Not meaningful

“In the first quarter, Envestnet grew revenue, adjusted EBITDA and adjusted earnings per share, overcoming the impact of challenging capital markets in the fourth quarter of 2018,” said Jud Bergman, Chairman and CEO.

“We continue to execute on our vision for enabling financial wellness, having recently formed the Advisor Credit Exchange and closed on our acquisition of PIEtech®, creator of MoneyGuide financial planning applications. We are focused on enabling advisors’ delivery of unified advice to their clients, as they achieve better financial outcomes and improve the lives of millions of investors,” concluded Mr. Bergman.

Financial Results for the First Quarter of 2019:

Asset-based recurring revenues decreased 10% from the prior year period, and represented 55% of total revenues for the first quarter of 2019, compared to 61% of total revenues for the same period in 2018. Subscription-based recurring revenues increased 19% from the prior year period, and represented 42% of total revenues the first quarter of 2019 compared to 35% for the same period in 2018. Professional services and other non-recurring revenues increased 7% from the prior year period. Total revenues increased 1% to $199.7 million for the first quarter of 2019 from $198.0 million for the first quarter of 2018.

Total operating expenses for the first quarter of 2019 increased 5% to $208.4 million from $198.7 million in the prior year period. Cost of revenues decreased 2% to $61.6 million for the first quarter of 2019 from $62.9 million for the prior year period. Compensation and benefits increased 4% to $86.7 million for the first quarter of 2019 from $83.5 million for the prior year period. Compensation and benefits were 43% of total revenues for the first quarter of 2019, compared to 42% in the prior year period. General and administration expenses increased 24% to $40.5 million for the first quarter of 2019 from $32.7 million for the prior year period. General and administrative expenses were 20% of total revenues for the first quarter of 2019, compared to 17% in the prior year period. 

Loss from operations was $8.7 million for the first quarter of 2019 compared to $0.7 million for the first quarter of 2018. Net loss was $18.3 million for the first quarter of 2019 compared to net income of $8.0 million for the first quarter of 2018. Net loss per share attributable to Envestnet, Inc. was $0.38 for the first quarter of 2019 compared to net income per diluted share attributable to Envestnet, Inc. of $0.17 for the first quarter of 2018.
 

1

The following information was filed by Envestnet, Inc. (ENV) on Wednesday, May 8, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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