Envestnet, Inc. (NYSE:ENV) Q3 2023 Earnings Call Transcript

Josh Warren: So this is Josh, I’m happy to I’m happy to take that. That’s effectively a single client, which is an existing client of our DNA business, where — the new service that we’re providing for them in connection in some respects, with the new datasets that Bill mentioned, is effectively a net new build and therefore professional services revenue. Still revenue to Envestnet, but for the quarter, we book as professional services.

Tom Sipp: And you had some revenue shifting between subscription and professional services, throughout the year as well.

Pete Heckmann: Okay. All right. I appreciate it. I’ll get back to the queue.

Bill Crager: All right. Thanks, Pete.

Operator: Thank you. [Operator Instructions] There are no further questions at this time and I’d like to turn the floor back over to CEO Mr. Bill Krieger for closing comments.

Bill Crager: Thank you, Camilla. Thank you, everyone for your interest in Envestnet and for joining us this evening. I once again want to thank all of my colleagues at Envestnet for the incredible work that you do. Thank you and have a good evening.

Operator: This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.