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EI

ENVESTNET, INC. (ENV)·Q4 2023 Earnings Summary

Executive Summary

  • Q4 delivered broad beats vs guidance: revenue $317.6M, adj. EBITDA $75.5M, and adj. EPS $0.65 all finished above the high end of Q3-issued Q4 ranges; GAAP was impacted by a $191.8M goodwill impairment in Data & Analytics, driving a GAAP loss per share of $(3.35) .
  • Momentum improved through 2H: Wealth Solutions revenue grew 11% YoY in Q4; adjusted EBITDA margin expanded to 24% vs ~21% in Q3 and ~18% in Q2 as cost actions took hold .
  • 1Q24 outlook implies continued margin progress: revenue $320–$326M, adj. EBITDA $64–$69M, adj. EPS $0.52–$0.57; management targets mid- to