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 CultureC-

Latest Updates

Employees (est.) (Dec 2019)1,560(+8%)
Job Openings63
Revenue (FY, 2020)$268.1 M(-9%)
Share Price (Dec 2021)$10.7(+2%)
Cybersecurity ratingBMore
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Key People/Management at Benefitfocus

Matt Levin

Matt Levin

President & Chief Executive Officer
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
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Benefitfocus Office Locations

Benefitfocus has offices in Charleston, Brookfield, Greenville, New York and in 2 other locations
Charleston, SC, US (HQ)
100 Benefitfocus Way
Brookfield, WI, US
18500 W Corporate Dr #250
Greenville, SC, US
1016 Woods Crossing Rd
New York, NY, US
135 Madison Ave 3rd floor
Salt Lake City, UT, US
10 Broadway #700
Tulsa, OK, 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 $268.14 m in FY, 2020
USD

Revenue (Q2, 2021)

60.9m

Gross profit (Q2, 2021)

32.9m

Gross profit margin (Q2, 2021), %

54%

Net income (Q2, 2021)

(15.0m)

EBIT (Q2, 2021)

(9.5m)

Market capitalization (31-Dec-2021)

351.0m

Closing stock price (31-Dec-2021)

10.7

Cash (30-Jun-2021)

98.1m

EV

443.0m
Benefitfocus's current market capitalization is $351 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
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, 2020Q1, 2021Q2, 2021

Cash

22.3m56.9m50.8m57.7m59.4m54.6m54.8m53.3m51.1m144.2m138.4m130.7m114.7m183.5m94.0m98.1m

Accounts Receivable

31.1m28.4m27.5m23.9m27.0m33.3m29.7m26.8m27.6m28.2m32.4m34.7m33.5m29.9m24.5m20.9m

Prepaid Expenses

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

Current Assets

78.1m105.4m92.0m90.8m93.5m93.3m99.5m93.8m89.5m191.4m187.9m180.7m169.4m231.2m234.1m232.9m
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, 2020Q1, 2021Q2, 2021

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)(2.1m)(17.1m)

Depreciation and Amortization

3.0m6.3m9.6m4.0m7.9m11.8m3.9m8.0m11.9m5.3m10.9m16.6m5.9m12.1m6.4m12.5m

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)5.8m3.5m

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)8.8m17.9m
USDQ1, 2016

Debt/Equity

-1.5 x

Debt/Assets

0.3 x

Financial Leverage

-5.1 x
Show all financial metrics

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
Show all operating metrics

Benefitfocus Acquisitions / Subsidiaries

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

Benefitfocus Revenue Breakdown

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

Benefitfocus Cybersecurity Score

Cybersecurity ratingPremium dataset

B

87/100

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

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Benefitfocus Company Culture

  • Overall Culture

    C-

    65/100

  • CEO Rating

    B

    71/100

  • Compensation

    C

    66/100

  • Diversity

    F

    38/100

Learn more on Comparably

Benefitfocus News and Updates

Benefitfocus Acquires Tango Health, Expanding ACA Compliance and Reporting Capabilities for Employers

Industry-leading solution to strengthen Benefitfocus’ benefits administration services, helping to deliver an exceptional, end-to-end customer experience. Industry-leading solution to strengthen Benefitfocus’ benefits administration services, helping to deliver an exceptional, end-to-end customer ex…

Benefitfocus Enters Into Purchase Agreements With Certain 1.25 Percent Convertible Noteholders

De-levers balance sheet and improves capital structure De-levers balance sheet and improves capital structure

Benefitfocus Files Definitive Proxy Materials and Sets Date for 2021 Annual Meeting of Stockholders

CHARLESTON, S.C., May 17, 2021 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ: BNFT), an industry-leading benefits technology platform that simplifies benefits administration for employers, health plans and brokers, announces that it has filed definitive proxy materials with the U.S. Securities an…

Benefitfocus Announces Inducement Grant Under NASDAQ Listing Rule 5635(C)(4)

CHARLESTON, S.C., May 07, 2021 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ: BNFT), an industry-leading benefits technology platform that simplifies benefits administration for employers, health plans and brokers, announces that, in connection with the appointment of Matthew Levin as president a…

Benefitfocus Appoints Proven Industry Leader Matthew Levin as New CEO to Further Advance Growth Strategy

Reiterates Full Year Guidance Reiterates Full Year Guidance

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...
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Benefitfocus Blogs

Webinar: Simplify Data Exchange and Improve Customer Satisfaction

Webinar: Simplify Data Exchange and Improve Customer Satisfaction carolyn.barnic… Fri, 01/07/2022 - 11:30 Join Benefitfocus health plan specialists Suzi Pigg, Andy Van Nortwick and Randy Buchanan to discover how Benefitplace Data Management & Exchange enables you to get the most value out of …

Benefitfocus to Participate at Piper Sandler 33rd Annual Virtual Healthcare Conference

CHARLESTON, S.C. , Nov. 18, 2021 (GLOBE NEWSWIRE) -- Benefitfocus, Inc.  (NASDAQ: BNFT), an industry-leading benefits technology platform that simplifies benefits administration for employers, health plans and brokers, today announced its participation in the Piper Sandler 33rd Annual Virtual

Benefitfocus to Participate at Credit Suisse 30th Annual Virtual Healthcare Conference

CHARLESTON, S.C. , Nov. 08, 2021 (GLOBE NEWSWIRE) -- Benefitfocus, Inc.  (NASDAQ: BNFT), an industry-leading benefits technology platform that simplifies benefits administration for employers, health plans and brokers, today announced that Matt Levin , President and Chief Executive Officer, and

Benefitfocus Announces Third Quarter 2021 Financial Results

Delivers on third quarter financial commitments Focused on providing service excellence to deliver enhanced stakeholder value CHARLESTON, S.C. , Nov. 03, 2021 (GLOBE NEWSWIRE) --   Benefitfocus, Inc.  (NASDAQ: BNFT), an industry-leading benefits technology platform that simplifies benefits

Benefitfocus Names James Bradley Wilson to Board of Directors

Accomplished executive brings diverse leadership skills and extensive health care industry expertise CHARLESTON, S.C. , Nov. 01, 2021 (GLOBE NEWSWIRE) -- Benefitfocus, Inc.  (NASDAQ: BNFT), an industry-leading benefits technology platform that simplifies benefits administration for employers,

Benefitfocus Adds COVID-19 Vaccination Tracking Features to Help Employers Comply with Government Mandates and Refine Return-to-Work Policies

Customizable vaccine tracking features help employers track vaccination status, collect vaccine documentation and implement other features in accordance with government and employer policies CHARLESTON, S.C. , Oct. 28, 2021 /PRNewswire/ -- Today Benefitfocus, Inc.
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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 Matt Levin, Jim Restivo and Stephen M. Swad.

  • 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 Workday, Oracle and Aspect Software.

  • 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.