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November 8 , 2021 ENVESTNET Envestnet Reports Third Quarter 2021 Financial Results Revenues , adjusted EBITDA and adjusted EPS exceed guidance in Q3 2021 , Raising 2021 Outlook CHICAGO -- ( BUSINESS WIRE ) -- Envestnet ( NYSE : ENV ) , a leading provider of intelligent systems for wealth management and financial wellness , today reported financial results for the three and nine months ended September 30 , 2021 . Key Financial Metrics Three months ended September 30 , ( in millions except per share data ) 2021 % 2020 Change Nine months ended September 30 , 2021 % 2020 Change GAAP : Total revenues $ 303.1 $ 252.6 Net income ( loss ) $ 11.4 $ 2.3 20 % $ 866.9 $ 734.4 n / m $ 18 % 18.0 $ ( 10.3 ) n / m Net income ( loss ) per diluted share attributable to Envestnet , Inc. $ 0.21 $ 0.03 n / m $ 0.33 $ ( 0.19 ) n / m Non - GAAP : Adjusted revenues ( 1 ) Adjusted EBITDA ( 1 ) Adjusted net income ( 1 ) Adjusted net income per diluted share ( 1 ) $ $ $ 303.1 $ $ 66.2 $ 39.9 $ 0.61 $ 252.7 67.6 40.2 0.72 20 % $ 867.1 $ 735.0 18 % ( 2 ) % $ 205.5 $ 178.0 ( 1 ) % $ 125.3 $ 103.2 ( 15 ) % $ 1.92 $ 1.88 15 % 21 % 2 % n / m - not meaningful " During the third quarter and first nine months of 2021 , Envestnet delivered strong financial results , " said Bill Crager , Chief Executive Officer . " Our commitment to our vision and strategy continues and we are executing in all areas of our business . Our team is leaned into our mission and the work we are doing to establish Envestnet as the ecosystem that connects data , technology , and solutions to enable The Intelligent Financial Life , ” concluded Mr. Crager . Financial Results for the Third Quarter of 2021 Asset - based recurring revenues increased 34 % from the third quarter of 2020 , and represented 61 % of total revenues for the third quarter of 2021 compared to 55 % for the third quarter of 2020. Subscription - based recurring revenues increased 5 % from the third quarter of 2020 , and represented 37 % of total revenues for the third quarter of 2021 , compared to 43 % for the third quarter of 2020. Professional services and other non - recurring revenues decreased 21 % from the prior year period . Total revenues increased 20 % to $ 303.1 million for the third quarter of 2021 from $ 252.6 million for the third quarter of 2020 . Total operating expenses for the third quarter of 2021 increased 20 % to $ 288.9 million from $ 240.9 million in the prior year period . Cost of revenues increased 40 % to $ 109.8 million for