Benefitfocus, Inc. (BNFT) Financial Statements (2024 and earlier)

Company Profile

Business Address 100 BENEFITFOCUS WAY
CHARLESTON, SC 29492
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7372 - Prepackaged Software (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2022
MRQ
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 68,050185,792130,976190,92855,33558,860
Cash and cash equivalents 31,00190,706130,976190,92855,33556,853
Short-term investments 37,04995,086   2,007
Receivables 16,49122,24033,75421,07730,15628,340
Other undisclosed current assets 27,61521,35321,52316,6674,3379,075
Total current assets: 112,156229,385186,253228,67289,82896,275
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 56,47468,67078,520
Operating lease, right-of-use asset 7741,1071,715
Property, plant and equipment 27,20229,70128,66969,96572,68180,518
Intangible assets, net (including goodwill) 55,37123,25025,5241,6341,7842,042
Goodwill 34,23712,85712,8571,6341,6341,634
Intangible assets, net (excluding goodwill) 21,13410,39312,667 150408
Other noncurrent assets     8161,575
Other undisclosed noncurrent assets 8,86410,25911,00213,668  
Total noncurrent assets: 148,685132,987145,43085,26775,28184,135
TOTAL ASSETS: 260,841362,372331,683313,939165,109180,410
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 36,42727,55135,33537,41727,64634,043
Employee-related liabilities16,41119,12915,24617,26914,25017,347
Accounts payable 10,5652,1609,5638,6874,2605,829
Accrued liabilities 9,4516,26210,52611,4619,13610,867
Deferred revenue 27,75627,78233,429
Debt 7,0505,0345,6584,48627,42322,604
Business combination, contingent consideration, liability 675     
Deferred revenue and credits38,82135,426
Due to related parties  667791833  
Other undisclosed current liabilities 32825842235,707  
Total current liabilities: 72,23661,29275,63578,44393,89092,073
Noncurrent Liabilities
Long-term debt and lease obligation 183,030263,492275,801233,80887,84378,180
Long-term debt, excluding current maturities 107,281184,308187,949176,69232,24620,246
Capital lease obligations57,11655,59757,934
Finance lease, liability 74,80677,91686,284
Liabilities, other than long-term debt 2,6906,8925,1712,57522,70743,468
Deferred revenue and credits19,89840,412
Deferred revenue 2,3774,4225,079
Other liabilities 3132,470922,5752,8093,056
Operating lease, liability 9431,2681,568
Other undisclosed noncurrent liabilities 9987209,323  
Total noncurrent liabilities: 185,729270,482281,692245,706110,550121,648
Total liabilities: 257,965331,774357,327324,149204,440213,721
Temporary equity, carrying amount 79,19379,193    
Equity
Equity, attributable to parent (76,317)(48,595)(25,644)(10,210)(39,331)(33,311)
Common stock 333233323130
Additional paid in capital 431,874427,431426,025403,631355,301335,059
Accumulated deficit (508,224)(476,058)(451,702)(413,873)(394,663)(368,400)
Total equity: (76,317)(48,595)(25,644)(10,210)(39,331)(33,311)
TOTAL LIABILITIES AND EQUITY: 260,841362,372331,683313,939165,109180,410

Income Statement (P&L) ($ in thousands)

9/30/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues 263,097268,141295,686258,721256,735233,335
Cost of revenue (122,713)(129,388)(144,090)(129,277)(124,156)(120,681)
Cost of goods and services sold (122,713)(129,388)(144,090)(129,277)(10,328)(10,417)
Gross profit: 140,384138,753151,596129,444132,579112,654
Operating expenses (146,094)(141,721)(176,102)(169,143)(146,097)(144,822)
Operating loss: (5,710)(2,968)(24,506)(39,699)(13,518)(32,168)
Nonoperating expense (29,416)(21,307)(20,982)(12,900)(12,339)(7,873)
Interest and debt expense (7,520)1,138(8,535)(5,685)(4,931)(1,095)
Loss from continuing operations before equity method investments, income taxes: (42,646)(23,137)(54,023)(58,284)(30,788)(41,136)
Other undisclosed income (loss) from continuing operations before income taxes 7,520(1,138)8,5355,6854,9311,095
Loss from continuing operations before income taxes: (35,126)(24,275)(45,488)(52,599)(25,857)(40,041)
Income tax expense (benefit) 2,960(22)(27)(28)(15)(17)
Loss from continuing operations: (32,166)(24,297)(45,515)(52,627)(25,872)(40,058)
Loss before gain (loss) on sale of properties:(32,166)(24,297)(45,515)(52,627)(25,872)(40,058)
Net loss attributable to parent: (32,166)(24,297)(45,515)(52,627)(25,872)(40,058)
Preferred stock dividends and other adjustments (6,400)(3,662)    
Net loss available to common stockholders, diluted: (38,566)(27,959)(45,515)(52,627)(25,872)(40,058)

Comprehensive Income ($ in thousands)

9/30/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net loss: (32,166)(24,297)(45,515)(52,627)(25,872)(40,058)
Comprehensive loss, net of tax, attributable to parent: (32,166)(24,297)(45,515)(52,627)(25,872)(40,058)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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