Revenue Up 46.8% Year Over Year
Enfusion, Inc. (“Enfusion”), a leading provider of cloud-based investment management software and services, today announced financial results for the third quarter ended September 30, 2021.
“We had an excellent third quarter and are thrilled with our business results. Our cloud-native SaaS solution continues to deliver the tools investment managers need to better manage their business and operational barriers so they can focus on what they do best – drive results for their clients,” said Thomas Kim, Chief Executive Officer, Enfusion.
Third Quarter 2021 Financial Highlights:
- Total revenue grew to $29.0 million, up 46.8% year over year led by new client signings and growth from existing clients.
- Platform Subscriptions revenue grew to $27.1 million, up 48.4% year over year.
- Managed Services revenue grew to $1.9 million, up 61.5% year over year primarily due to increased adoption from new and existing clients.
- Income from Operations decreased to $4.9 million compared to $6.2 million during the same period in the prior year.
- Net income was $3.3 million compared to net income of $5.6 million during the same period in the prior year.
- Annual Recurring Revenue (ARR) for September 2021 was $119.8 million, up 49.3% from September 2020.
- Net Dollar Retention excluding involuntary churn was 125.9% in the third quarter; NDR including involuntary churn was 122.0%.
Third Quarter 2021 Business Highlights:
- 59 new clients added in the third quarter
- Total clients equal to 686 as of September 30, 2021
Fourth Quarter and Full Year 2021 Outlook:
Enfusion is providing the following guidance for the fourth quarter and full year 2021:
- Fourth Quarter 2021 Outlook:
- Revenue is expected to be in the range of $30.0 million to $30.5 million.
- Income from Operations is expected to be in the range of ($293) million to ($294) million.
- Full Year 2021 Outlook:
- Revenue is expected to be in the range of $109.8 million to $110.3 million.
- Income from Operations is expected to be in the range of ($277) million to ($278) million.
Webcast and Conference Call:
Enfusion will host a webcast and conference call today at 2:00 PM (PT) / 5:00 PM (ET), during which management will discuss first results and provide commentary on business performance. A question-and-answer session will follow the prepared remarks.
The live audio webcast may be accessed on the Company’s website at: https://ir.Enfusion.com. The conference call can be accessed by dialing (844) 200-6205 (domestic) or (929) 526-1599 (international). The conference ID number is 665653.
For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybersecurity, go to AI-Techpark.com.
