Envestnet (NYSE: ENV ) reported earnings on Aug. 8. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Envestnet met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share dropped to a loss.
Gross margins expanded, operating margins contracted, net margins dropped.
Envestnet tallied revenue of $38.0 million. The six analysts polled by S&P Capital IQ expected sales of $37.9 million on the same basis. GAAP reported sales were 21% higher than the prior-year quarter's $31.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.07. The seven earnings estimates compiled by S&P Capital IQ anticipated $0.05 per share. GAAP EPS were -$0.02 for Q2 versus $0.07 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 64.3%, 3,230 basis points better than the prior-year quarter. Operating margin was -2.8%, 1,320 basis points worse than the prior-year quarter. Net margin was -1.8%, 960 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $41.8 million. On the bottom line, the average EPS estimate is $0.08.
Next year's average estimate for revenue is $157.2 million. The average EPS estimate is $0.31.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Envestnet is outperform, with an average price target of $14.83.
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