Envestnet, Inc. (NYSE:ENV) Q4 2022 Earnings Call Transcript

We’re automating more of our servicing. We’ve transitioned and rebalanced the kind of the organization to value creation and value extraction versus administration. And you’re beginning to see and we’re beginning in our outlook, beginning to deliver the benefits of those things. And so my strong belief and of course, we had the opportunity to talk to lots of investors over the last quarter at the end of 2022. And what I hear is the drive towards greater profitability and delivering on free cash flow. And as we turn the corner here and get into 2023, we’ve given guidance around our margin expectations. I talked a bit about how we’ll continue to manage on those free cash flow items, and you’ll see though there’s benefit that lies ahead for us in ’23 there.

There’s a lot of alignment, Patrick. And I think that at the end of the day, I believe that what we’ve done here is that we’ve created alignment for our customers in what they need and how we brought the company and our capabilities together, and that’s been very well received. And I believe beginning in the fourth quarter of last year, and now we will execute it on a go forward basis, there’s going to be really a high degree of alignment with our shareholders. And I say that at a high kind of encompassing level there, but there’s a lot of alignment. And I believe it’s how we’re operating the business and I believe that, that is something that investors are going to benefit as we go forward.

Operator: There are no further questions at this time. I would like to turn the floor back over to Bill Crager for closing remarks.

Bill Crager: I want to thank everybody this evening for joining us. Again, I’d like to thank very much our shareholders for your support of Envestnet. Thank once again the team here at Envestnet who has done a tremendous job in bringing the parts of our company more closely together to deliver real benefit to the marketplace and our customers as well as provide what I believe will be a long term value creation for our shareholders. Thank you very much. I look forward to speaking to you next quarter.

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