Benefitfocus

Human Resources & Recruiting Technology cloud platforms hrtech workforce management

Benefitfocus provides a leading cloud-based benefits management platform that simplifies how organizations and individuals shop for, enroll in, manage and exchange benefits. The Company operates through the following segments: Employer and Carrier.

The Employer segment involves 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.

By delivering technology that integrates all benefits in one place, Benefitfocus provides a better way to engage consumers, educate employees and simplify benefit enrollment and management.

Revenue(FY, 2016)

$233.3 M

Market capitalization(2018-04-23)

$848.6 M

Customers(Q3, 2017)

957

Type

Public

Charleston, US

Founded

2000

Size (employees)

1,430 (est)

Website

benefitfocus.com

Benefitfocus was founded in 2000 and is headquartered in Charleston, US

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Benefitfocus Office Locations

Benefitfocus has offices in Redwood City, Parsons, Louisville, Houston and in 29 other locations

Charleston, US (HQ)

100 Benefitfocus Way

Greenville, US

1016 Woods Crossing Rd

Jenks, US

250 400 Riverwalk Terrace

San Francisco, US

99 Green St

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Benefitfocus Financials and Metrics

Benefitfocus Financials

Benefitfocus's revenue was reported to be $233.34 m in FY, 2016 which is a 26% increase from the previous period.

Summary

USD
Revenue (Q2, 2017)	63.3 m
Gross profit (Q2, 2017)	34.5 m
Gross profit margin (Q2, 2017), %	54.5%
Net income (Q2, 2017)	(4.5 m)
EBIT (Q2, 2017)	(1.5 m)
Market capitalization (23-Apr-2018)	848.6 m
Cash (30-Jun-2017)	59.4 m

Benefitfocus's current market capitalization is $848.6 m.

Income Statement

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Revenue	104.8 m	137.4 m	185.1 m	233.3 m
Revenue growth, %		31%	35%	26%
Cost of goods sold	62.4 m	87.5 m	102.9 m	120.7 m
Gross profit	42.3 m	50 m	82.3 m	112.7 m

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017
Revenue	26.3 m	30.7 m	32.3 m	34.2 m	42.7 m	42.7 m	45.4 m	54.8 m	57.9 m	58 m	64.2 m	63.3 m
Cost of goods sold	16.4 m	19.2 m	21 m	23.4 m	22.5 m	23.6 m	26.3 m	29.3 m	29.8 m	29.1 m	31.6 m	28.8 m
Gross profit	9.9 m	11.5 m	11.3 m	10.8 m	20.2 m	19.1 m	19.2 m	25.5 m	28.1 m	28.9 m	32.6 m	34.5 m
Gross profit Margin, %	38%	37%	35%	32%	47%	45%	42%	47%	49%	50%	51%	54%

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Balance Sheet

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Cash	65.6 m	51.1 m	48.1 m	56.9 m
Accounts Receivable	23.7 m	21.3 m	27.6 m	28.3 m
Inventories	4.3 m	4.2 m	5.7 m	4.4 m
Current Assets	106.8 m	81.8 m	123.9 m	96.3 m

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017
Cash	84.7 m	48.8 m	55.2 m	53.8 m	68.6 m	40.4 m	43 m	22.3 m	56.9 m	50.8 m	57.7 m	59.4 m
Accounts Receivable	21.2 m	18.3 m	21.4 m	18 m	16.7 m	20.3 m	20.7 m	31.1 m	28.4 m	27.5 m	23.9 m	27 m
Current Assets	108.3 m	98 m	98.4 m	83.6 m	131.4 m	116.2 m	114.3 m	78.1 m	105.4 m	92 m	90.8 m	93.5 m
PP&E	16.5 m	28.8 m	37.7 m	43.5 m	54 m	54.1 m	54.6 m	54.3 m	55.8 m	57.9 m	78 m	76.4 m

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Cash Flow

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Net Income	(30.4 m)	(63.2 m)	(62.1 m)	(40.1 m)
Depreciation and Amortization	8.2 m	9.5 m	11.7 m	13.1 m
Inventories	(1.4 m)	833 k	(1.3 m)	1.6 m
Accounts Payable	2.6 m	(199 k)	3.4 m	(1.8 m)

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017
Net Income	(22 m)	(12.4 m)	(30.6 m)	(49.5 m)	(14.6 m)	(32.9 m)	(49.6 m)	(13.4 m)	(24.4 m)	(33 m)	(7.7 m)	(12.2 m)
Depreciation and Amortization	5.7 m	2.4 m	5 m	7.6 m	2.8 m	5.7 m	8.7 m	3 m	6.3 m	9.6 m	4 m	7.9 m
Accounts Payable	3.9 m	(5 k)	(2.1 m)	(1.3 m)	(295 k)	1.4 m	117 k	(3.9 m)	(1.3 m)	(3.8 m)	(899 k)	(1.3 m)
Cash From Operating Activities	2.3 m

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Ratios

USD	Y, 2017
Financial Leverage	-4.9 x

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Benefitfocus Operating Metrics

Benefitfocus's Patent Applications was reported to be 5 in FY, 2016. Benefitfocus's Connections was reported to be 1.5 k in FY, 2016. Benefitfocus's Customers was reported to be 957 in Q3, 2017.