Investor Presentaiton
Revenue less cost of revenue - year-over-year comparison
In millions
140
120
$103.0
100
80
60
40
20
0
4Q21 revenue less
cost of revenue
$26.5
$2.2
$123.5
$0.4
-$8.3
Asset growth
Adhesion
Wealth
$1.2
Reduction of
on-going ABE
$0.1
-$1.6
Fee compression
Subscription-
based revenue
Spread
Other
income
income
4Q22 revenue less
cost of revenue
Asset Based
$8.3m decrease due to a $6.2b in
billable asset decline offset by
$0.4m from Adhesion Wealth and
$1.2m in reduction of on-going
asset-based expenses
Core business fee compression
(ex-Adhesion) was 0.4 bp year-
over-year
Subscription Based
Voyant revenue flat y/y
impacted by foreign exchange
pressure. Ex-FX pressure,
revenue was up 12.8% year-
over-year
Spread Based
Increased $26.5m year-over-
year driven by yield
improvement from 0.26% to
3.27%
Other income
Increased $2.2m driven
largely by higher interest
income
For general public use.
ASSETMARK.
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