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Benefitfocus

OverviewSuggest Edit

Benefitfocus provides cloud-based benefits software solutions for consumers, employers, insurance carriers and brokers. The Company operates through the following segments: Employer and Carrier. The Employer segment is involved in providing products and services for employers, which include HR InTouch Marketplace, Benefit Informatics, HR Support Center, implementation services, media services, app development platform, and software-enabled services. The Carrier segment offers products and services for insurance carriers, which include eEnrollment, eBilling, eExchange, eSales, eDirect, benefit informatics, implementation services, media and animation services, app development platform, and software-enabled services.

TypePublic
Founded2000
HQCharleston, USMap
Websitebenefitfocus.com
Employee Ratings3.2More
View Jobs (150)

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Latest Updates

Employees (est.) (Dec 2018)1,450
Job Openings150
Revenue (FY, 2018)$258.7 M
Share Price (Oct 2019)$23.8 (+3%)

Key People/Management at Benefitfocus

Ray August

Ray August

President & Chief Executive Officer
Peter Allen

Peter Allen

SVP of Sales and Strategic Initiatives
Annmarie Fini

Annmarie Fini

Senior Vice President of Customer Success Organization
Lou Anne Gilmore

Lou Anne Gilmore

Vice President of Corporate Development
Andy Howell

Andy Howell

SVP of Community and Legal
Steve Malme

Steve Malme

Senior VP of Platform Strategy, Marketing and Partners
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Benefitfocus Office Locations

Benefitfocus has offices in Charleston, Brookfield, Greenville, New York and in 2 other locations
Charleston, US (HQ)
100 Benefitfocus Way
Brookfield, US
18500 W Corporate Dr #250
Greenville, US
A, 1016 Woods Crossing Rd
New York, US
135 Madison Ave
Salt Lake City, US
10 Broadway #700
Tulsa, US
2488 E 81st St #1700
Show all (6)

Benefitfocus Financials and Metrics

Benefitfocus Revenue

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Benefitfocus's revenue was reported to be $258.72 m in FY, 2018 which is a 0.8% increase from the previous period.
USD

Revenue (Q2, 2019)

68.6m

Gross profit (Q2, 2019)

35.8m

Gross profit margin (Q2, 2019), %

52.2%

Net income (Q2, 2019)

(14.9m)

EBIT (Q2, 2019)

(9.8m)

Market capitalization (11-Oct-2019)

778.5m

Closing stock price (11-Oct-2019)

23.8

Cash (30-Jun-2019)

138.4m

EV

646.6m
Benefitfocus's current market capitalization is $778.5 m.
Annual
USDFY, 2016FY, 2017FY, 2018

Revenue

233.3m256.7m258.7m

Revenue growth, %

26%10%1%

Cost of goods sold

120.7m124.2m129.3m

Gross profit

112.7m132.6m129.4m
Quarterly
USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Revenue

54.8m57.9m58.0m64.2m63.3m62.5m62.4m60.6m61.0m68.3m68.6m

Cost of goods sold

29.3m29.8m29.1m31.6m28.8m30.5m31.4m30.7m31.7m32.9m32.8m

Gross profit

25.5m28.1m28.9m32.6m34.5m32.0m31.0m29.9m29.3m35.4m35.8m

Gross profit Margin, %

47%49%50%51%54%51%50%49%48%52%52%
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Annual
USDFY, 2016FY, 2017FY, 2018

Cash

56.9m55.3m190.9m

Accounts Receivable

28.3m30.2m21.1m

Prepaid Expenses

4.4m4.3m

Current Assets

96.3m89.8m228.7m
Quarterly
USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Cash

22.3m56.9m50.8m57.7m59.4m54.6m54.8m53.3m51.1m144.2m138.4m

Accounts Receivable

31.1m28.4m27.5m23.9m27.0m33.3m29.7m26.8m27.6m28.2m32.4m

Prepaid Expenses

6.8m6.1m5.6m5.8m6.2m5.4m

Current Assets

78.1m105.4m92.0m90.8m93.5m93.3m99.5m93.8m89.5m191.4m187.9m
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Annual
USDFY, 2016FY, 2017FY, 2018

Net Income

(40.1m)(25.9m)(52.6m)

Depreciation and Amortization

13.1m15.9m15.8m

Accounts Payable

(1.8m)(1.4m)6.6m

Cash From Operating Activities

(22.8m)(5.9m)9.0m
Quarterly
USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Net Income

(13.4m)(24.4m)(33.0m)(7.7m)(12.2m)(18.9m)(13.8m)(28.1m)(39.7m)(14.2m)(29.1m)

Depreciation and Amortization

3.0m6.3m9.6m4.0m7.9m11.8m3.9m8.0m11.9m5.3m10.9m

Accounts Payable

(3.9m)(1.3m)(3.8m)(899.0k)(1.3m)(4.3m)2.7m(1.1m)4.4m(4.9m)(4.1m)

Cash From Operating Activities

(19.8m)(20.2m)(20.9m)(7.4m)(6.4m)(15.1m)(3.7m)(4.8m)(4.0m)(20.5m)(20.5m)
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USDY, 2019

EV/EBIT

-66.1 x

EV/CFO

-31.6 x

Debt/Equity

-0.3 x

Financial Leverage

-17.6 x
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Benefitfocus Operating Metrics

Benefitfocus's Customers was reported to be 957 in Q3, 2017. Benefitfocus's Connections was reported to be 2.2 k in FY, 2018.
Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017FY, 2018

Customers

795 856 880 886 906 946 957

Connections

1.50 k1.50 k2.20 k

Patents Issued

5 8 8

Patent Applications

5 2 2
Show all operating metrics

Benefitfocus Acquisitions / Subsidiaries

Acquired CompanyDateDeal Size
Benefitfocus.com, Inc.
BenefitStore, Inc.

Benefitfocus Revenue Breakdown

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Benefitfocus revenue breakdown by business segment: 21.8% from Professional Services and 78.2% from Software Services

Benefitfocus Online and Social Media Presence

Benefitfocus's Trends

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Benefitfocus News and Updates

September 11, 2019

Benefitfocus Platform Innovations to be Unveiled to Insurance Carriers at Carrier Place 2019

The two-day event, held at The Sanctuary on Kiawah Island Golf Resort, at Kiawah Island, SC, will feature sessions covering the company’s strategic platform model for carrier customers, which serve as an anchor for Benefitfocus’ ecosystem of employers, brokers, partners and consumers. Benefitfocus P…
July 17, 2019

Benefitfocus Launches Enterprise HCM API Data Exchange Capabilities

Leveraging the company’s position as the benefits industry data standard, as chosen by the global insurance industry data standards body, ACORD, Benefitfocus is expanding its data exchange capabilities to address HCM API integrations. The move supports Benefitfocus’ multi-year, multi-million-dollar …
July 10, 2019

Benefitfocus Appoints Current Board Member and Veteran Technology Finance Executive, Stephen Swad, as CFO

CHARLESTON, S.C., July 10, 2019 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, today announced the appointment of Stephen M. Swad as Chief Financial Officer (CFO). Swad, who will be joining the Company on July 22nd, …
May 14, 2019

Benefitfocus Recognized as Benefits Industry Innovator

CHARLESTON, S.C., May 14, 2019 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, has been recognized by InfoArmor and Ultimate Software, two of the company's integration partners, as a benefits industry innovator....
April 12, 2019

Benefitfocus Announces Date of First Quarter 2019 Financial Results

CHARLESTON, S.C., April 12, 2019 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, today announced that it will report its first quarter 2019 results after U.S. financial markets close on May 1, 2019.
April 11, 2019

Benefitfocus Appoints Key Executives in Sales & Marketing To Accelerate Market Growth and Engagement Strategy

CHARLESTON, S.C., April 11, 2019 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, today announced two distinguished technology executives have joined the company's leadership team to further its market-leading...
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 Benefitfocus Frequently Asked Questions

  • When was Benefitfocus founded?

    Benefitfocus was founded in 2000.

  • Who are Benefitfocus key executives?

    Benefitfocus's key executives are Ray August, Peter Allen and Annmarie Fini.

  • How many employees does Benefitfocus have?

    Benefitfocus has 1,450 employees.

  • What is Benefitfocus revenue?

    Latest Benefitfocus annual revenue is $258.7 m.

  • What is Benefitfocus revenue per employee?

    Latest Benefitfocus revenue per employee is $178.4 k.

  • Who are Benefitfocus competitors?

    Competitors of Benefitfocus include Artemis Health, Aspect Software and iiPay.

  • Where is Benefitfocus headquarters?

    Benefitfocus headquarters is located at 100 Benefitfocus Way, Charleston.

  • Where are Benefitfocus offices?

    Benefitfocus has offices in Charleston, Brookfield, Greenville, New York and in 2 other locations.

  • How many offices does Benefitfocus have?

    Benefitfocus has 6 offices.