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.
| Type | Public | |
| Founded | 2000 | |
| HQ | Charleston, SC, US | Map |
| Website | benefitfocus.com | |
| Employee Ratings | More | |
| Overall Culture | C- | More |
Recent NewsAll News
- Benefitfocus Acquires Tango Health, Expanding ACA Compliance and Reporting Capabilities for Employers
- Benefitfocus Enters Into Purchase Agreements With Certain 1.25 Percent Convertible Noteholders
- Benefitfocus Files Definitive Proxy Materials and Sets Date for 2021 Annual Meeting of Stockholders
- Benefitfocus Announces Inducement Grant Under NASDAQ Listing Rule 5635(C)(4)
Key People/Management at Benefitfocus
Matt Levin
President & Chief Executive Officer
Jim Restivo
Chief Technology Officer and Executive Vice President
Stephen M. Swad
President & Chief Executive Officer
John Thomas
Chief Data Officer
Alpana Wegner
Chief Financial Officer
Sean Wechter
Chief Information Officer
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
Benefitfocus Financials and Metrics
Benefitfocus Revenue
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
Quarterly
| USD | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q1, 2021 | Q2, 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 54.8m | 57.9m | 58.0m | 64.2m | 63.3m | 62.5m | 62.4m | 60.6m | 61.0m | 68.3m | 68.6m | 71.7m | 66.2m | 62.2m | 65.1m | 60.9m |
Cost of goods sold | 29.3m | 29.8m | 29.1m | 31.6m | 28.8m | 30.5m | 31.4m | 30.7m | 31.7m | 32.9m | 32.8m | 35.6m | 33.9m | 30.4m | 28.6m | 28.0m |
Gross profit | 25.5m | 28.1m | 28.9m | 32.6m | 34.5m | 32.0m | 31.0m | 29.9m | 29.3m | 35.4m | 35.8m | 36.1m | 32.2m | 31.8m | 36.5m | 32.9m |
Gross profit Margin, % | 47% | 49% | 50% | 51% | 54% | 51% | 50% | 49% | 48% | 52% | 52% | 50% | 49% | 51% | 56% | 54% |
Annual
Quarterly
| USD | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q1, 2021 | Q2, 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash | 22.3m | 56.9m | 50.8m | 57.7m | 59.4m | 54.6m | 54.8m | 53.3m | 51.1m | 144.2m | 138.4m | 130.7m | 114.7m | 183.5m | 94.0m | 98.1m |
Accounts Receivable | 31.1m | 28.4m | 27.5m | 23.9m | 27.0m | 33.3m | 29.7m | 26.8m | 27.6m | 28.2m | 32.4m | 34.7m | 33.5m | 29.9m | 24.5m | 20.9m |
Prepaid Expenses | 6.8m | 6.1m | 5.6m | 5.8m | 6.2m | 5.4m | ||||||||||
Current Assets | 78.1m | 105.4m | 92.0m | 90.8m | 93.5m | 93.3m | 99.5m | 93.8m | 89.5m | 191.4m | 187.9m | 180.7m | 169.4m | 231.2m | 234.1m | 232.9m |
Annual
Quarterly
| USD | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q1, 2021 | Q2, 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 | 3.0m | 6.3m | 9.6m | 4.0m | 7.9m | 11.8m | 3.9m | 8.0m | 11.9m | 5.3m | 10.9m | 16.6m | 5.9m | 12.1m | 6.4m | 12.5m |
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) | 5.8m | 3.5m |
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) | 8.8m | 17.9m |
| USD | Q1, 2016 |
|---|---|
Debt/Equity | -1.5 x |
Debt/Assets | 0.3 x |
Financial Leverage | -5.1 x |
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.
Benefitfocus Acquisitions / Subsidiaries
| Company Name | Date | Deal Size |
|---|---|---|
| Benefitfocus.com, Inc. | ||
| BenefitStore, Inc. |
Benefitfocus Revenue Breakdown
Benefitfocus revenue breakdown by business segment: 78.2% from Software Services and 21.8% from Professional Services
Benefitfocus Cybersecurity Score
Benefitfocus Environment, Social & Governance (ESG) Ratings
Benefitfocus Online and Social Media Presence
9.33k Twitter followers
Benefitfocus has 9.33k Twitter Followers. The number of followers has decreased 0.2% month over month and decreased 0.7% quarter over quarter
Benefitfocus's Trends
Twitter Engagement Stats for @Benefitfocus
29.4k
Tweets
1.4k
Following
9.3k
Followers
23
Tweets last 30 days
0.3
Avg. likes per Tweet
39.1%
Tweets with engagement
Benefitfocus Company Culture
Overall Culture
C-
65/100
CEO Rating
B
71/100
Compensation
C
66/100
Diversity
F
38/100
Benefitfocus News and Updates
November 17, 2021
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…
September 15, 2021
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
May 17, 2021
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…
May 07, 2021
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…
May 04, 2021
Benefitfocus Appoints Proven Industry Leader Matthew Levin as New CEO to Further Advance Growth Strategy
Reiterates Full Year Guidance Reiterates Full Year Guidance
April 16, 2021
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 Blogs
January 07, 2022
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 …
November 18, 2021
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
November 08, 2021
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
November 03, 2021
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
November 01, 2021
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,
October 28, 2021
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.
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.
Learn about Craft real-time company insights
Receive alerts for 300+ data fields across thousands of companies