$1.1 B

BNFT Mkt cap, 22-Jun-2018

$62.4 M

Benefitfocus Revenue Q1, 2018
Benefitfocus Gross profit (Q1, 2018)31 M
Benefitfocus Gross profit margin (Q1, 2018), %49.6%
Benefitfocus Net income (Q1, 2018)-13.8 M
Benefitfocus EBIT (Q1, 2018)-10.7 M
Benefitfocus Cash, 31-Mar-201854.8 M

Benefitfocus Revenue Breakdown

Embed Graph

Benefitfocus revenue breakdown by business segment: 13.5% from Professional Services and 86.5% from Software Services

Benefitfocus Financials

Benefitfocus Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

104.8 m137.4 m185.1 m233.3 m

Revenue growth, %

31%35%26%

Cost of goods sold

62.4 m87.5 m102.9 m120.7 m

Gross profit

42.3 m50 m82.3 m112.7 m

Gross profit Margin, %

40%36%44%48%

Sales and marketing expense

55.5 m

R&D expense

56.6 m

General and administrative expense

32.8 m

Operating expense total

144.8 m

EBIT

(28.2 m)(58.9 m)(54.3 m)(32.2 m)

EBIT margin, %

(27%)(43%)(29%)(14%)

Interest expense

2.1 m

Interest income

46 k77 k188 k138 k

Pre tax profit

(30.4 m)(63.2 m)(62.1 m)(40 m)

Income tax expense

(31 k)25 k25 k17 k

Net Income

(30.4 m)(63.2 m)(62.1 m)(40.1 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Revenue

26.3 m30.7 m32.3 m34.2 m42.7 m42.7 m45.4 m54.8 m57.9 m58 m64.2 m63.3 m62.4 m

Cost of goods sold

16.4 m19.2 m21 m23.4 m22.5 m23.6 m26.3 m29.3 m29.8 m29.1 m31.6 m28.8 m31.4 m

Gross profit

9.9 m11.5 m11.3 m10.8 m20.2 m19.1 m19.2 m25.5 m28.1 m28.9 m32.6 m34.5 m31 m

Gross profit Margin, %

38%37%35%32%47%45%42%47%49%50%51%54%50%

Sales and marketing expense

7.4 m11 m14.1 m12.1 m15.5 m15.8 m14.2 m13.6 m14.8 m13.6 m17.3 m17.6 m19.9 m

R&D expense

6.6 m8.8 m10.4 m11.5 m11.8 m13.3 m13 m15 m14.2 m14.1 m12.2 m12.5 m12 m

General and administrative expense

2.6 m3.5 m4.3 m5 m5.4 m6.4 m6.8 m8.4 m8.3 m7.7 m7.8 m5.9 m9.7 m

Operating expense total

16.7 m23.3 m28.7 m28.6 m32.7 m35.5 m34 m37 m37.2 m35.4 m37.2 m36 m41.6 m

EBIT

(6.8 m)(11.8 m)(17.4 m)(17.8 m)(12.5 m)(16.4 m)(14.8 m)(11.5 m)(9.1 m)(6.5 m)(4.6 m)(1.5 m)(10.7 m)

EBIT margin, %

(26%)(39%)(54%)(52%)(29%)(38%)(33%)(21%)(16%)(11%)(7%)(2%)(17%)

Interest expense

113 k588 k797 k1.1 m

Interest income

8 k26 k24 k14 k18 k56 k56 k56 k36 k25 k27 k47 k58 k

Pre tax profit

(6.9 m)(12.4 m)(18.2 m)(18.9 m)(14.6 m)(18.3 m)(16.7 m)(13.3 m)(11 m)(8.6 m)(7.7 m)(4.5 m)(13.8 m)

Income tax expense

(59 k)14 k15 k(9 k)15 k5 k5 k5 k5 k5 k5 k4 k

Net Income

(6.8 m)(12.4 m)(18.2 m)(18.9 m)(14.6 m)(18.3 m)(16.7 m)(13.4 m)(11 m)(8.6 m)(7.7 m)(4.5 m)(13.8 m)

Benefitfocus Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

65.6 m51.1 m48.1 m56.9 m

Accounts Receivable

23.7 m21.3 m27.6 m28.3 m

Inventories

4.3 m4.2 m5.7 m4.4 m

Current Assets

106.8 m81.8 m123.9 m96.3 m

PP&E

27.4 m54 m55 m80.5 m

Goodwill

1.6 m1.6 m1.6 m1.6 m

Total Assets

139.6 m140 m182.1 m180.4 m

Accounts Payable

4.4 m5.6 m8 m5.8 m

Current Liabilities

41.9 m56.7 m105.6 m92.1 m

Total Liabilities

213.7 m

Additional Paid-in Capital

214.5 m223.4 m310.3 m335.1 m

Retained Earnings

(203.1 m)(266.3 m)(328.3 m)(368.4 m)

Total Equity

11.4 m(18 m)(33.3 m)

Financial Leverage

12.2 x-10.1 x-5.4 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Cash

84.7 m48.8 m55.2 m53.8 m68.6 m40.4 m43 m22.3 m56.9 m50.8 m57.7 m59.4 m54.8 m

Accounts Receivable

21.2 m18.3 m21.4 m18 m16.7 m20.3 m20.7 m31.1 m28.4 m27.5 m23.9 m27 m29.7 m

Current Assets

108.3 m98 m98.4 m83.6 m131.4 m116.2 m114.3 m78.1 m105.4 m92 m90.8 m93.5 m99.5 m

PP&E

16.5 m28.8 m37.7 m43.5 m54 m54.1 m54.6 m54.3 m55.8 m57.9 m78 m76.4 m71.2 m

Goodwill

1.6 m1.6 m1.6 m1.6 m1.6 m1.6 m1.6 m1.6 m1.6 m1.6 m1.6 m1.6 m1.6 m

Total Assets

127.8 m132 m141 m131.7 m189.7 m174.2 m172.4 m136 m164.8 m153.4 m172 m173 m187.8 m

Accounts Payable

5.6 m4.3 m3 m3.2 m4.6 m6.8 m4.9 m3.9 m7.4 m4.2 m5 m5.1 m5.6 m

Current Liabilities

40.2 m41.2 m46 m49.4 m67.5 m69 m86 m68.5 m105.6 m87.7 m72.6 m83.9 m91.3 m

Total Liabilities

107.3 m131.8 m155.6 m162.9 m170.7 m170.6 m181.1 m162.6 m196.5 m188.8 m206.2 m208.1 m205.7 m

Additional Paid-in Capital

213.8 m215.7 m219.1 m221.4 m300 m302.8 m307.1 m315 m320.9 m325.8 m342.3 m345.9 m357 m

Retained Earnings

(193.3 m)(215.5 m)(233.7 m)(252.6 m)(280.9 m)(299.2 m)(315.9 m)(341.7 m)(352.7 m)(361.3 m)(376.5 m)(381 m)(375 m)

Total Equity

20.4 m259 k19.1 m3.6 m(8.7 m)(26.7 m)(31.8 m)(35.4 m)(34.2 m)(35.1 m)(18 m)

Financial Leverage

6.3 x509.8 x9.9 x47.9 x-19.7 x-5.1 x-5.2 x-4.3 x-5 x-4.9 x-10.4 x

Benefitfocus Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

(30.4 m)(63.2 m)(62.1 m)(40.1 m)

Depreciation and Amortization

8.2 m9.5 m11.7 m13.1 m

Accounts Receivable

(10 m)2.4 m(7.8 m)(3.9 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)

Cash From Operating Activities

1.1 m(14.6 m)(3 m)

Purchases of PP&E

(8.9 m)(9.8 m)(14.7 m)(12.7 m)

Cash From Investing Activities

(22.1 m)(2 m)(50.2 m)

Interest Paid

2.1 m2.4 m6.5 m6.7 m

Income Taxes Paid

169 k38 k18 k7 k

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

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)(13.8 m)

Depreciation and Amortization

5.7 m2.4 m5 m7.6 m2.8 m5.7 m8.7 m3 m6.3 m9.6 m4 m7.9 m3.9 m

Accounts Receivable

(7.9 m)5.4 m2.3 m5.7 m2.5 m(614 k)(814 k)(3.6 m)(1.6 m)(1.7 m)5.7 m5 m54 k

Accounts Payable

3.9 m(5 k)(2.1 m)(1.3 m)(295 k)1.4 m117 k(3.9 m)(1.3 m)(3.8 m)(899 k)(1.3 m)2.7 m

Cash From Operating Activities

2.3 m

Purchases of PP&E

(6.7 m)(2.1 m)(3.7 m)(8 m)(6 m)(8.1 m)(11 m)(2.6 m)(5 m)(10.9 m)(2.1 m)(3.8 m)(1.6 m)

Cash From Investing Activities

(6.7 m)(15.1 m)(7.1 m)(2.1 m)(39.8 m)(51.1 m)(48.3 m)(1.6 m)

Cash From Financing Activities

(1.8 m)

Interest Paid

248 k

Income Taxes Paid

168 k

Benefitfocus Ratios

USDY, 2018

Financial Leverage

-10.4 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.
FY, 2014FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017

Customers

596 777 795 856 880 886 906 946 957

Connections

900 1.50 k1.50 k

Patents Issued

3 3 5

Patent Applications

8 7 5
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