Envestnet, inc. (ENV)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
OPERATING ACTIVITIES:
Net loss

-7,190

3,417

-2,964

613

-18,268

-512

2,511

-5,991

8,002

17,645

-1,320

-6,470

-13,135

-32,574

-4,057

-7,943

-10,993

-3,913

3,302

2,536

2,511

3,693

3,768

3,650

2,868

695

1,306

1,118

541

-158

551

-668

740

1,829

1,925

2,447

1,404

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation, Depletion and Amortization

27,683

28,104

26,735

26,915

19,517

19,332

19,563

19,185

19,546

16,028

15,492

15,465

15,835

14,127

16,692

17,100

16,080

10,747

6,157

5,725

5,333

5,361

4,253

4,615

4,422

4,663

4,467

3,081

3,118

3,384

3,393

3,224

2,399

1,700

1,550

1,578

1,548

Deferred rent and lease incentive amortization

-

-

-

-

-

-263

661

-684

-385

-318

-126

-401

-182

114

-1

154

171

-1,191

-847

51

168

-448

-950

1,220

-97

301

-736

-68

20

23

4

1,373

-11

-25

467

-41

-69

Amortization of customer inducements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

948

1,207

1,207

1,206

Provision for doubtful accounts

1,026

1,612

530

262

451

390

304

463

461

39

487

259

82

753

263

83

23

-

-

-

-

-

-

-

-

50

93

0

60

-

-

-

-

-

-

-

-

Deferred income taxes

-1,587

-2,004

-8,635

-29,160

169

-1,775

-4,761

830

-17,923

-11,243

122

3,840

2,684

15,857

-13,777

-95

3,599

-10,244

-1,072

-1,080

1,888

-

-

-

-

-1,171

-281

-524

-570

645

-130

-444

12

-632

677

1,342

775

Non-cash compensation expense

15,985

17,277

15,315

14,988

12,864

10,671

10,603

10,476

8,495

7,880

8,048

7,945

7,458

7,404

7,554

6,703

11,615

5,004

3,408

3,330

3,419

2,980

2,676

3,199

2,568

2,457

2,015

1,960

2,306

1,217

1,195

1,135

795

703

714

829

816

Non-cash interest expense

4,463

2,051

7,299

3,016

6,880

2,197

6,707

2,421

3,209

283

3,858

1,331

3,522

1,289

2,924

2,018

2,013

3,190

2,384

2,341

2,356

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from stock-based compensation expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,515

4,027

11,468

-

-

-

-

875

1,657

887

160

-

-

-

-

-

-

-

-

Accretion on contingent consideration and purchase liability

599

532

498

502

240

13

13

95

101

104

104

148

156

7

23

58

62

94

143

309

342

364

284

412

412

-

-

-

-

-

-

-

-

-

-

-

-

Gain on acquisition of equity method investment

4,230

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss allocation from equity method investments

2,030

-

-

-

203

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of contingent consideration

-

-

-

-

-

-

-

-

-

0

0

0

357

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss allocation from equity method investment

-

-

-

-

-

-77

-258

-151

-660

-485

-282

-417

-285

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fair market value adjustment to contingent consideration liability

-

-

-

-

-

-

-

-

-

-

-

-

-

750

349

439

50

-362

-1,889

-456

-1,446

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-8

1

3

Interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3

-

206

204

211

Changes in operating assets and liabilities, net of acquisitions:
Fees receivable, net

14,333

5,025

-6,700

1,734

-1,198

3,759

927

-1,987

10,191

1,835

647

5,094

545

2,431

165

7,036

-11,278

4,480

-4,008

2,972

5,853

-6,401

-396

2,881

2,128

1,264

4,630

1,989

1,683

-1,504

2,061

-540

-1,034

-1,396

-102

125

-567

Prepaid expenses and other current assets

6,793

1,656

-10,723

2,161

13,346

-3,852

1,313

-239

3,665

-4,529

2,635

-1,251

3,932

-2,099

-12,156

7,336

9,780

-10,182

-2,506

-3,203

1,175

-5,767

-1,511

-2,578

123

-1,918

2,321

503

169

-1,561

-4,100

2,808

-1,792

1,116

450

-58

480

Other non-current assets

-641

-879

2,872

2,181

1,060

448

438

-11

2,461

-94

1,270

1,057

-543

-5,744

1,951

764

1,556

5,001

-719

1,529

214

137

-400

852

284

179

697

327

241

-9

260

-73

3

-

-

-

-

Accrued expenses and other liabilities

-11,554

8,921

9,328

15,435

-34,495

6,229

12,148

11,966

-17,404

3,521

14,041

8,006

-8,758

16,899

5,242

6,368

-11,335

-11,585

3,694

-2,935

-2,827

6,572

4,771

2,141

-3,700

4,443

4,456

3,230

260

1,309

2,407

1,117

-1,733

361

322

1,331

-1,212

Accounts payable

-3,205

3,996

-2,091

-9,947

5,179

-2,357

-66

2,572

1,594

-1,877

1,619

-1,049

865

-586

-2,473

2,565

32

3,015

-1,326

1,251

188

-2,668

809

-69

1,269

1,023

402

1,611

-122

95

-164

417

292

-39

255

-298

349

Deferred revenue

5,598

-504

-2,709

-3,099

7,039

-802

-2,331

-3,578

7,056

451

-1,078

-801

2,619

55

512

-734

2,181

3,575

1,353

1,890

4,088

1,842

645

1,099

1,091

871

674

-381

461

428

126

23

451

-388

11

34

-164

Other non-current liabilities

-145

1,553

640

1,748

854

700

750

196

1,382

651

-1,170

1,882

1,140

-561

2,802

1,117

418

-3,364

-98

-272

-58

-252

134

123

21

114

935

91

-66

987

63

71

45

-243

72

72

60

Net cash provided by (used in) operating activities

8,988

46,881

59,454

14,966

-12,575

34,071

42,360

41,707

-753

37,004

36,059

26,543

8,644

29,796

27,225

12,609

13,516

16,204

21,177

7,402

-2,748

21,174

16,932

11,572

6,319

14,272

4,418

6,412

3,755

9,455

9,224

4,053

5,816

5,941

6,163

7,637

5,008

INVESTING ACTIVITIES:
Purchases of property and equipment

2,160

3,749

7,283

3,568

5,247

3,436

7,519

4,581

4,988

3,513

2,251

5,174

4,007

3,128

6,207

2,821

1,811

2,332

1,940

2,854

2,058

928

408

2,839

2,002

1,824

2,663

1,033

605

740

1,099

2,386

613

541

1,340

1,498

1,419

Capitalization of internally developed software

11,572

10,447

8,066

8,398

7,185

6,457

6,989

6,023

4,599

3,414

3,559

3,560

2,091

2,392

2,972

1,857

1,388

1,750

1,574

1,076

1,132

820

911

791

860

850

790

738

765

652

710

642

346

347

318

382

435

Investment in private companies

11,700

-

-

-

1,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6

2

15

Acquisitions of businesses, net of cash acquired

20,257

-656

0

310,510

11,061

-342

6,614

9,762

178,583

-

-

-

-

13,219

0

269

18,125

300,973

5,620

19,071

2,641

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

1,270

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-45,689

-11,190

-16,549

-323,476

-24,493

-12,021

-21,122

-20,366

-188,170

-6,927

-7,260

-8,734

-6,098

-20,239

-9,917

-4,947

-22,824

-305,055

-9,234

-24,501

-5,831

-60,030

-2,607

-3,630

-2,862

-2,674

-12,445

-1,771

-1,370

-2,281

-1,809

-64,665

-959

-24,630

-1,652

-2,040

-1,839

Proceeds from borrowings on revolving credit facility

45,000

170,000

0

175,000

0

0

0

0

195,000

0

60,000

-50,000

25,000

15,000

10,000

0

15,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on revolving credit facility

15,000

10,000

45,000

30,000

0

0

0

261,168

15,000

-

-

-

-

15,000

10,000

2,000

13,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of contingent consideration

-

-

-

-

-

-

-

-

-

0

0

0

1,929

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of definite consideration

-

-

-

-

-

-

-

-

-

0

0

0

445

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of Term Notes

-

-

-

-

-

-

-

-

-

0

0

2,000

33,862

2,000

2,000

2,000

2,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

3,408

3,563

2,115

1,751

3,163

106

2,659

136

2,404

3,483

1,851

717

1,900

1,758

887

1,072

1,207

831

1,539

2,199

3,710

2,044

1,531

776

839

822

3,374

2,148

56

142

362

617

948

45

442

1,188

1,072

Excess tax benefits from stock-based compensation expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,515

4,027

11,468

-

-

-

-

875

1,657

887

160

-

-

-

-

-

-

-

-

Purchase of treasury stock for stock-based tax withholdings

9,199

3,410

3,735

6,143

9,819

2,932

3,489

5,099

9,296

2,355

1,969

3,000

6,650

1,449

-317

2,763

7,071

600

257

114

6,441

63

304

86

1,609

36

0

220

366

-

-

-

-

-

-

-

-

Purchase of ERS units

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,500

0

0

1,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common stock acquired under the share repurchase program

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15

44

0

78

0

0

0

94

Issuance of restricted stock units

2

1

1

1

2

0

1

1

2

1

0

1

3

1

0

1

4

0

0

0

2

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

24,211

-24,597

-48,722

140,438

-6,654

113,318

-1,323

67,189

173,110

-18,871

-7,712

-29,517

-15,983

-5,627

-5,168

-5,690

-5,860

132,221

-2,522

6,112

8,739

142,711

27,110

3,893

-770

1,661

5,031

2,820

-150

1,676

318

3,376

870

45

442

1,188

978

EFFECT OF EXCHANGE RATE CHANGES ON CASH

-1,496

-221

-344

54

112

455

-475

-463

-109

205

-113

-41

324

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH

-13,986

10,873

-6,161

-168,018

-43,610

135,823

19,440

88,067

-15,922

11,411

20,974

-11,749

-13,113

3,930

12,140

1,972

-15,168

-156,630

9,421

-10,987

160

103,855

41,435

11,835

2,687

13,259

-2,996

7,461

2,235

8,850

7,733

-57,236

5,727

-18,644

4,953

6,785

4,147

Supplemental disclosure of cash flow information - net cash paid during the period for income taxes

814

293

1,705

1,123

4,998

1,657

1,649

866

1,359

4,710

-1,724

991

-716

1,289

740

598

-1,513

763

146

316

475

1,977

136

-96

114

319

1,434

2,539

416

192

279

-16

341

81

341

282

109

Supplemental disclosure of cash flow information - cash paid during the period for interest

2,740

5,717

1,861

5,736

216

4,629

1,509

2,297

1,974

2,466

927

2,546

1,414

2,966

1,198

2,113

2,079

1,423

820

1,569

65

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental disclosure of non-cash operating, investing and financing activities:
Purchase liabilities included in accrued expenses and other liabilities

375

0

0

0

0

-719

-703

-11,750

13,172

-

-

-

-

-

-

-

269

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued payment to fund deferred compensation liability included in accounts payable

-

-

-

-

-

-

-

-

1,551

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contingent consideration issued in acquisition of businesses

5,239

-100

0

8,300

7,580

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase liabilities included in other non-current liabilities

257

0

0

0

5,468

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of fixed assets included in accounts payable and accrued expenses and other liabilities

1,752

-430

695

1,208

359

556

253

-143

1,331

781

245

-211

471

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Membership interest liabilities included in other non-current liabilities

2,220

2,220

2,220

1,480

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common stock issued to settle purchase liability

0

0

0

0

772

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Leasehold improvements funded by lease incentive

894

1,816

-648

159

489

0

700

1,080

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Settlement of contingent consideration liability upon issuance of ERS, LLC membership interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-126

284

-

-

-

-

-

-

-

-

-

-

-

-

Acquired purchase option

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

400

-

-

-

-

-

-

-

-

-

-

-

-