ENVESTNET, INC. (ENV) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	8-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Envestnet							447.6	406.8
Other							130.5	14.1
Total revenues [+]	1,239.8	1,186.5	998.2	900.1	812.4	683.7	578.2	420.9
Licensing								75.3
Services	23.7
Financial services								12.0
Revenue growth [+]	4.5%	18.9%	10.9%	10.8%	18.8%	18.3%	37.4%	20.7%
Envestnet							10.0%	16.7%
Cost of goods sold	468.5	856.6	704.9	662.4	844.0	702.5	422.2	161.3
Gross profit	771.3	330.0	293.3	237.8	-31.6	-18.8	156.0	259.6
Gross margin	62.2%	27.8%	29.4%	26.4%	-3.9%	-2.7%	27.0%	61.7%
Selling, general and administrative [+]	706.8	171.7	160.2	152.6	140.0	121.0	115.4	72.9
Sales and marketing	490.7
General and administrative	216.1	171.7	160.2	152.6	140.0	121.0	115.4	72.9
Other selling, general and administrative	490.7
Other operating expenses	130.5	-0.5			-263.4	-219.0		139.8
Adjusted EBITDA	144.9	226.8	192.7	145.6	132.0	110.6	73.8	62.1
Adjusted EBITDA margin	11.7%	19.1%	19.3%	16.2%	16.3%	16.2%	12.8%	14.8%
Stock-based compensation	80.3	68.0	59.6	60.4	40.2	31.3	33.3	15.2
EBITDA [+]	64.5	158.8	133.1	85.2	91.8	79.2	40.6	47.0
EBITDA growth	-59.4%	19.3%	56.2%	-7.2%	15.8%	95.4%	-13.6%	17.7%
EBITDA margin	5.2%	13.4%	13.3%	9.5%	11.3%	11.6%	7.0%	11.2%
Depreciation	130.5	49.2	40.1	32.8	23.8	20.7	18.5	10.3
EBITA	-66.0	109.6	93.0	52.4	68.0	58.5	22.1	36.6
EBITA margin	-5.3%	9.2%	9.3%	5.8%	8.4%	8.6%	3.8%	8.7%
Amortization of intangibles		68.6	73.6	68.5	53.9	42.1	45.5	17.6
EBIT [+]	-66.0	41.0	19.4	-16.1	14.2	16.4	-23.4	19.0
EBIT growth	-260.9%	111.0%	-221.0%	-213.5%	-13.7%	-170.0%	-223.4%	-10.6%
EBIT margin	-5.3%	3.5%	1.9%	-1.8%	1.7%	2.4%	-4.1%	4.5%
Non-recurring items		0.5
Interest expense, net [+]		16.1	30.4	29.2	22.8	16.1	16.6	9.9
Interest expense		16.9	31.5	32.5	25.2	16.3	16.6	10.3
Interest income		0.8	1.1	3.3	2.4	0.2	0.0	0.3
Other income (expense), net [+]	-12.4	-4.1	2.9	-2.8	-0.5	-2.0	-0.5	-0.1
Other non-ooperating expenses						-2.0	-0.5	-0.1
Other		-4.1	2.9	-2.8	-0.5	2.0	0.5	0.1
Pre-tax income	-78.4	20.4	-8.0	-48.1	-9.2	-1.7	-40.5	9.0
Income taxes	7.1	7.7	-5.4	-30.9	-13.2	1.6	15.1	4.6
Tax rate		37.7%	67.1%	64.2%	143.8%			50.6%
Minority interest		-0.6	0.5	-0.4	-1.7
Net income	-80.9	13.3	-3.1	-16.8	5.8	-3.3	-55.6	4.4
Net margin	-6.5%	1.1%	-0.3%	-1.9%	0.7%	-0.5%	-9.6%	1.1%

Basic EPS [+]	($1.47)	$0.24	($0.06)	($0.33)	$0.13	($0.08)	($1.30)	$0.12
Growth	-700.7%	-520.6%	-82.4%	-359.1%	-269.5%	-94.2%	-1167.9%	-70.4%
Diluted EPS [+]	($1.42)	$0.24	($0.06)	($0.33)	$0.12	($0.08)	($1.30)	$0.12
Growth	-693.1%	-513.7%	-82.4%	-371.3%	-261.9%	-94.2%	-1223.1%	-69.9%

Shares outstanding (basic) [+]	55.2	54.5	53.6	50.9	45.3	43.7	42.8	36.5
Growth	1.3%	1.6%	5.2%	12.5%	3.5%	2.1%	17.3%	5.6%
Shares outstanding (diluted) [+]	56.8	55.4	53.6	50.9	47.4	43.7	42.8	38.4
Growth	2.6%	3.3%	5.2%	7.5%	8.4%	2.1%	11.5%	4.1%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.