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, SC, US
Websitebenefitfocus.com
Employee Ratings3
Overall CultureD+

Latest Updates

Employees (est.) (Dec 2019)1,560(+8%)
Revenue (FY, 2020)$268.1 M(-9%)
Share Price (Apr 2021)$14.2
Cybersecurity ratingCMore

Key People/Management at Benefitfocus

Jim Restivo

Jim Restivo

Chief Technology Officer and Executive Vice President
Stephen M. Swad

Stephen M. Swad

President & Chief Executive Officer
John Thomas

John Thomas

Chief Data Officer
Alpana Wegner

Alpana Wegner

Chief Financial Officer
Sean Wechter

Sean Wechter

Chief Information Officer
Ravi Metta

Ravi Metta

EVP, Product & Engineering
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Benefitfocus Office Locations

Benefitfocus has offices in Charleston and Tulsa
Charleston, SC, US (HQ)
100 Benefitfocus Way
Tulsa, OK, US
2488 E 81st St #1700
Show all (2)

Benefitfocus Financials and Metrics

Benefitfocus Revenue

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Benefitfocus's revenue was reported to be $268.14 m in FY, 2020
USD

Revenue (FY, 2020)

268.1m

Gross profit (FY, 2020)

138.8m

Gross profit margin (FY, 2020), %

51.7%

Net income (FY, 2020)

(24.3m)

EBIT (FY, 2020)

(3.0m)

Market capitalization (23-Apr-2021)

454.4m

Closing stock price (23-Apr-2021)

14.2

Cash (31-Dec-2020)

90.7m

EV

548.0m
Benefitfocus's current market capitalization is $454.4 m.
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Revenue

233.3m256.7m258.7m295.7m268.1m

Revenue growth, %

26%10%1%

Cost of goods sold

120.7m124.2m129.3m144.1m129.4m

Gross profit

112.7m132.6m129.4m151.6m138.8m
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%
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Cash

56.9m55.3m190.9m131.0m90.7m

Accounts Receivable

28.3m30.2m21.1m33.8m22.2m

Prepaid Expenses

4.4m4.3m

Current Assets

96.3m89.8m228.7m186.3m229.4m
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
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Net Income

(40.1m)(25.9m)(52.6m)(45.5m)(24.3m)

Depreciation and Amortization

13.1m15.9m15.8m22.4m25.0m

Accounts Payable

(1.8m)(1.4m)6.6m426.0k(11.5m)

Cash From Operating Activities

(22.8m)(5.9m)9.0m(18.4m)27.7m
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)
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

795856880886906946957

Connections

1.5 k1.5 k2.2 k

Patents Issued

588

Patent Applications

522
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Benefitfocus Acquisitions / Subsidiaries

Company NameDateDeal 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 Cybersecurity Score

Cybersecurity ratingPremium dataset

C

77/100

SecurityScorecard logo

Benefitfocus Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

CSRHub logo

Benefitfocus Online and Social Media Presence

Embed Graph

Benefitfocus Company Culture

  • Overall Culture

    D+

    60/100

  • CEO Rating

    D+

    63/100

  • Compensation

    C

    63/100

  • Diversity

    F

    37/100

Learn more on Comparably

Benefitfocus News and Updates

Benefitfocus Platform for Health Plans Delivers Significant ROI over Three-Year Period

CHARLESTON, S.C., April 16, 2021 /PRNewswire/ -- A commissioned Total Economic Impact study conducted by Forrester Consulting on behalf of Benefitfocus (NASDAQ: BNFT) concluded that the Benefitplace single platform solution improves data quality and automates processes across the...

Benefitfocus Names Coretha Rushing to Board of Directors

Former CHRO and SHRM chairman brings invaluable industry expertise to board Former CHRO and SHRM chairman brings invaluable industry expertise to board

Benefitfocus Announces Fourth Quarter and Full Year 2020 Financial Results

Delivers record Q4 adjusted EBITDA of $20.2 million, GAAP EPS of $0.04 and non-GAAP EPS of $0.18Executing on clear priorities to drive growth and operating leverage

Benefitfocus Invites Investor Community to Join One Place 2021

Announces Date of Fourth Quarter and Full Year 2020 Financial Results Announces Date of Fourth Quarter and Full Year 2020 Financial Results

Benefitfocus Expands Its Partnership with Transamerica to Provide Seamless Retirement Plan Enrollment

CHARLESTON, S.C., Dec. 10, 2020 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), an industry-leading benefits technology platform that simplifies benefits administration for employers, health plans and brokers, announces today an enhanced partnership with Transamerica that enables...

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...
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Benefitfocus Blogs

One Place Local Midwest Region | State of Employee Benefits 2021: Trends & Insights Following a Year of Disruption

One Place Local Midwest Region | State of Employee Benefits 2021: Trends & Insights Following a Year of Disruption carolyn.barnic… Mon, 05/03/2021 - 10:54 All Event Register June 9, 2021 BNFT_Homepage_Promo_Graphic_v4.png

One Place Local Southeast Region | State of Employee Benefits 2021: Trends & Insights Following a Year of Disruption

One Place Local Southeast Region | State of Employee Benefits 2021: Trends & Insights Following a Year of Disruption carolyn.barnic… Mon, 05/03/2021 - 10:52 All Event Register June 8, 2021 BNFT_Homepage_Promo_Graphic_v4.png

Identity Fraud Affects Your Employees, HR Department and Organization presented by InfoArmor Allstate

Identity Fraud Affects Your Employees, HR Department and Organization presented by InfoArmor Allstate carolyn.barnic… Wed, 04/28/2021 - 17:00 Employer Webinar Register May 20, 2021 Benefitfocus_Script_B-01.png

One Place Local West Region | State of Employee Benefits 2021: Trends & Insights Following a Year of Disruption

One Place Local West Region | State of Employee Benefits 2021: Trends & Insights Following a Year of Disruption carolyn.barnic… Tue, 04/27/2021 - 12:04 All Event Register May 26, 2021 OPN LinkedIn Logo.jpg

One Place Local Central Region | State of Employee Benefits 2021: Trends & Insights Following a Year of Disruption

One Place Local Central Region | State of Employee Benefits 2021: Trends & Insights Following a Year of Disruption carolyn.barnic… Tue, 04/27/2021 - 12:01 All Event Register May 27, 2021 OPN LinkedIn Logo.jpg

One Place Local Northeast Region | State of Employee Benefits 2021: Trends & Insights Following a Year of Disruption

One Place Local Northeast Region | State of Employee Benefits 2021: Trends & Insights Following a Year of Disruption carolyn.barnic… Tue, 04/27/2021 - 08:01 All Event Register May 25, 2021 OPN LinkedIn Logo.jpg
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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 John Thomas.

  • How many employees does Benefitfocus have?

    Benefitfocus has 1,560 employees.

  • What is Benefitfocus revenue?

    Latest Benefitfocus annual revenue is $268.1 m.

  • What is Benefitfocus revenue per employee?

    Latest Benefitfocus revenue per employee is $171.9 k.

  • Who are Benefitfocus competitors?

    Competitors of Benefitfocus include Skygen USA, Aspect Software and Infor.

  • Where is Benefitfocus headquarters?

    Benefitfocus headquarters is located at 100 Benefitfocus Way, Charleston.

  • Where are Benefitfocus offices?

    Benefitfocus has offices in Charleston and Tulsa.

  • How many offices does Benefitfocus have?

    Benefitfocus has 2 offices.