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Exhibit 99.1 Chicago , IL Envestnet Reports First Quarter 2021 Financial Results - May 6 , 2021 Envestnet ( NYSE : ENV ) , a leading provider of intelligent systems for wealth management and financial wellness , today reported financial results for the three months ended March 31 , 2021 . Key Financial Metrics ( in millions except per share data ) Three months ended March 31 , 2021 2020 % Change GAAP : Total revenues $ 275.1 $ 246.5 12 % Net income ( loss ) $ 14.9 $ ( 7.2 ) n / m Net income ( loss ) per diluted share attributable to Envestnet , Inc. $ 0.27 $ ( 0.14 ) n / m Non - GAAP : Adjusted revenues ( 1 Adjusted EBITDA ( 1 ) Adjusted net income ( 1 ) Adjusted net income per diluted share ( 1 ) $ 275.2 $ 247.0 11 % $ 68.3 $ 54.6 25 % $ 41.9 $ 31.2 34 % $ 0.64 $ 0.57 12 % n / m not meaningful “ During the first quarter Envestnet again delivered strong financial results , exceeding our revenue , adjusted EBITDA and adjusted EPS expectations , ” said Bill Crager , Chief Executive Officer . " We are executing on our accelerated investment plan to achieve faster growth , gain unique competitive advantage and fuse our capabilities to become the ecosystem that powers the intelligent financial life , ” concluded Mr. Crager . Financial Results for the First Quarter of 2021 Asset - based recurring revenues increased 18 % from the first quarter of 2020 , and represented 58 % of total revenues for the first quarter of 2021 compared to 55 % for the first quarter 2020. Subscription - based recurring revenues increased 5 % from the first quarter of 2020 , and represented 40 % of total revenues for the first quarter of 2021 , compared to 42 % for the first quarter of 2020. Professional services and other non - recurring revenues decreased 18 % from the prior year period . Total revenues increased 12 % to $ 275.1 million for the first quarter of 2021 from $ 246.5 million for the first quarter of 2020 . Total operating expenses for the first quarter of 2021 increased 2 % to $ 258.3 million from $ 254.2 million in the prior year period . Cost of revenues increased 24 % to $ 92.9 million for the first quarter of 2021 from $ 74.9 million for the prior year period . Compensation and benefits decreased 9 % to $ 100.7 million for the first quarter of 2021 from $ 110.4 million for the prior year period . Compensation and benefits were 37 % of total revenues for the first quarter of 2021 , compared to 45 % in the prior year period . General and administration expenses decreased 12 % to $ 36.3 million for the first quarter of 2021 from $ 41.1 million for the prior year period . General and administrative expenses were 13 % of total revenues for the first quarter of 2021 , compared to 17 % in the prior year period . Income from operations was $ 16.8 million for the first quarter of 2021 compared to loss from of $ 7.6 million for the first quarter of 2020. Net income was $ 14.9 million for the first quarter of 2021 compared to net loss of $ 7.2 million for the first quarter of 2020. Net income per diluted share attributable to Envestnet , Inc. was $ 0.27 for the first quarter of 2021 compared to net loss per diluted share attributable to Envestnet , Inc. of $ 0.14 for the first quarter of 2020 .