Envestnet Inc (ENV)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	-271,593	13,747	119,360	661,909	592,143
Revenue	US$ in thousands	1,221,030	1,231,540	1,170,410	967,838	870,954
Gross profit margin		-22.24%	1.12%	10.20%	68.39%	67.99%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $-271,593K ÷ $1,221,030K
= -22.24%

The gross profit margin of Envestnet Inc. has shown a downward trend over the past five years, decreasing from 69.03% in 2019 to 62.02% in 2023. This indicates that the company's cost of goods sold as a percentage of revenue has been increasing relative to previous years. A declining gross profit margin may suggest that Envestnet Inc. is facing challenges in maintaining profitability on its core business operations. Further analysis of the company's cost structure and pricing strategies would be warranted to understand the factors contributing to this trend.