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Benefitfocus

OverviewSuggest Edit

Benefitfocus is a company providing a cloud-based benefits management platform. It helps consumers, employers, insurance carriers, brokers, and suppliers to manage, scale, and exchange benefits data. The platform supports medical benefit plans and non-medical benefits, such as dental, life, disability insurance, income protection, digital health, and financial wellness.

TypePublic
Founded2000
HQCharleston, USMap
Websitebenefitfocus.com
Employee Ratings2.7More

Recent NewsAll News

Latest Updates

Employees (est.) (Dec 2019)1,560(+8%)
Revenue (FY, 2019)$295.7 M(+15%)
Share Price (Sept 2020)$11.2 (-1%)
Cybersecurity ratingCMore

Key People/Management at Benefitfocus

Jim Restivo

Jim Restivo

Chief Technology Officer
Stephen M. Swad

Stephen M. Swad

Chief Financial Officer
Annmarie Fini

Annmarie Fini

Executive Vice President, Customer Success Organization
Steve Malme

Steve Malme

Senior VP of Platform Strategy & Experience
Peter Allen

Peter Allen

Senior Vice President, Sales & Marketing
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Benefitfocus Office Locations

Benefitfocus has offices in Charleston, Brookfield, Greenville, New York and in 1 other location
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
Tulsa, US
2488 E 81st St #1700
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Benefitfocus Financials and Metrics

Benefitfocus Revenue

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Benefitfocus's revenue was reported to be $295.69 m in FY, 2019
USD

Revenue (Q2, 2020)

62.2m

Gross profit (Q2, 2020)

31.8m

Gross profit margin (Q2, 2020), %

51.1%

Net income (Q2, 2020)

(11.9m)

EBIT (Q2, 2020)

(6.1m)

Market capitalization (21-Sept-2020)

360.4m

Closing stock price (21-Sept-2020)

11.2

Cash (30-Jun-2020)

183.5m

EV

370.7m
Benefitfocus's current market capitalization is $360.4 m.
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019

Revenue

233.3m256.7m258.7m295.7m

Revenue growth, %

26%10%1%

Cost of goods sold

120.7m124.2m129.3m144.1m

Gross profit

112.7m132.6m129.4m151.6m
Quarterly
USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Revenue

54.8m57.9m58.0m64.2m63.3m62.5m62.4m60.6m61.0m68.3m68.6m71.7m66.2m62.2m

Cost of goods sold

29.3m29.8m29.1m31.6m28.8m30.5m31.4m30.7m31.7m32.9m32.8m35.6m33.9m30.4m

Gross profit

25.5m28.1m28.9m32.6m34.5m32.0m31.0m29.9m29.3m35.4m35.8m36.1m32.2m31.8m

Gross profit Margin, %

47%49%50%51%54%51%50%49%48%52%52%50%49%51%
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Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019

Cash

56.9m55.3m190.9m131.0m

Accounts Receivable

28.3m30.2m21.1m33.8m

Prepaid Expenses

4.4m4.3m

Current Assets

96.3m89.8m228.7m186.3m
Quarterly
USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Cash

22.3m56.9m50.8m57.7m59.4m54.6m54.8m53.3m51.1m144.2m138.4m130.7m114.7m183.5m

Accounts Receivable

31.1m28.4m27.5m23.9m27.0m33.3m29.7m26.8m27.6m28.2m32.4m34.7m33.5m29.9m

Prepaid Expenses

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

Current Assets

78.1m105.4m92.0m90.8m93.5m93.3m99.5m93.8m89.5m191.4m187.9m180.7m169.4m231.2m
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Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019

Net Income

(40.1m)(25.9m)(52.6m)(45.5m)

Depreciation and Amortization

13.1m15.9m15.8m22.4m

Accounts Payable

(1.8m)(1.4m)6.6m426.0k

Cash From Operating Activities

(22.8m)(5.9m)9.0m(18.4m)
Quarterly
USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Net Income

(13.4m)(24.4m)(33.0m)(7.7m)(12.2m)(18.9m)(13.8m)(28.1m)(39.7m)(14.2m)(29.1m)(41.7m)(11.1m)(23.0m)

Depreciation and Amortization

3.0m6.3m9.6m4.0m7.9m11.8m3.9m8.0m11.9m5.3m10.9m16.6m5.9m12.1m

Accounts Payable

(3.9m)(1.3m)(3.8m)(899.0k)(1.3m)(4.3m)2.7m(1.1m)4.4m(4.9m)(4.1m)(642.0k)(1.6m)(7.3m)

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)(23.5m)(7.2m)(2.1m)
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USDQ1, 2016

Debt/Equity

-1.5 x

Debt/Assets

0.3 x

Financial Leverage

-5.1 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
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Benefitfocus Acquisitions / Subsidiaries

Company NameDateDeal Size
Benefitfocus.com, Inc.
BenefitStore, Inc.

Benefitfocus Cybersecurity Score

Cybersecurity ratingPremium dataset

C

79/100

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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 08, 2020

Robin Kirby Joins Benefitfocus as Chief Human Resources Officer

CHARLESTON, S.C., Sept. 8, 2020 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a technology platform provider enabling rapid innovation for employers, health plans and consumers, today announced Ms. Robin Kirby joined the company as its Chief Human Resources Officer. Kirby formerly...
July 10, 2020

Is Benefitfocus Expensive At $11?

After a 30% rally since March 23rd, we believe Benefitfocus’ stock seems to still have room to grow based on its valuation. Benefitfocus’ stock has rallied from $8 to $11 off the recent bottom compared to the S&P which moved 40%. One of the reasons for the high recovery was the Fed’s multi-billi…
May 26, 2020

Benefitfocus Announces $80 Million Investment by BuildGroup LLC

Bolsters the Company’s Balance Sheet to Facilitate the Accelerated Transformation of Benefitfocus’ Industry-Leading, AI-driven Platform Bolsters the Company’s Balance Sheet to Facilitate the Accelerated Transformation of Benefitfocus’ Industry-Leading, AI-driven Platform
March 03, 2020

Benefitfocus Announces Fourth Quarter and Full Year 2019 Financial Results

Driven by its leading AI-powered platform, Benefitfocus grew Q4 total revenue 17% year-over-year; Announces stock repurchase program Driven by its leading AI-powered platform, Benefitfocus grew Q4 total revenue 17% year-over-year; Announces stock repurchase program
January 10, 2020

AI And The ‘Platform Pivot’ At Benefitfocus

Benefitfocus, a benefits software provider, is using AI to create a platform-based business model.
December 18, 2019

Benefitfocus Platform Improves Consumer Experience, Eases Administrative Management

This ongoing expansion of Benefitfocus’ capability to drive world-class data and consumer peace of mind supports both open enrollment success and year-round insight-driven benefits decision making. read more
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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 Jim Restivo, Stephen M. Swad and Annmarie Fini.

  • How many employees does Benefitfocus have?

    Benefitfocus has 1,560 employees.

  • What is Benefitfocus revenue?

    Latest Benefitfocus annual revenue is $295.7 m.

  • What is Benefitfocus revenue per employee?

    Latest Benefitfocus revenue per employee is $189.5 k.

  • Who are Benefitfocus competitors?

    Competitors of Benefitfocus include Infor, Workday and PlanSource.

  • 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 1 other location.

  • How many offices does Benefitfocus have?

    Benefitfocus has 5 offices.