Benefitfocus, Inc. (BNFT) financial statements (2022 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in thousands)

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 investments68,050 130,976190,92855,33558,860
Cash and cash equivalents31,001 130,976190,92855,33556,853
Short-term investments37,049    2,007
Receivables16,491 33,75421,07730,15628,340
Other undisclosed current assets27,615 21,52316,6674,3379,075
Total current assets:112,156 186,253228,67289,82896,275
Noncurrent Assets
Finance lease, right-of-use asset56,474 78,520
Operating lease, right-of-use asset774 1,715
Property, plant and equipment27,202 28,66969,96572,68180,518
Intangible assets, net (including goodwill)55,371 25,5241,6341,7842,042
Goodwill34,237 12,8571,6341,6341,634
Intangible assets, net (excluding goodwill)21,134 12,667 150408
Other noncurrent assets    8161,575
Other undisclosed noncurrent assets8,864 11,00213,668  
Total noncurrent assets:148,685 145,43085,26775,28184,135
TOTAL ASSETS:260,841 331,683313,939165,109180,410
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities36,427 35,33537,41727,64634,043
Accounts payable10,565 9,5638,6874,2605,829
Accrued liabilities9,451 10,52611,4619,13610,867
Employee-related liabilities16,411 15,24617,26914,25017,347
Deferred revenue27,756 33,429
Debt7,050 5,6584,48627,42322,604
Due to related parties  791833  
Business combination, contingent consideration, liability675     
Deferred revenue and credits38,82135,426
Other undisclosed current liabilities328 42235,707  
Total current liabilities:72,236 75,63578,44393,89092,073
Noncurrent Liabilities
Long-term debt and lease obligation183,030 275,801233,80887,84378,180
Long-term debt, excluding current maturities107,281 187,949176,69232,24620,246
Finance lease, liability74,806 86,284
Capital lease obligations57,11655,59757,934
Operating lease, liability943 1,568
Liabilities, other than long-term debt2,690 5,1712,57522,70743,468
Deferred revenue and credits19,89840,412
Deferred revenue2,377 5,079
Other liabilities313 922,5752,8093,056
Other undisclosed noncurrent liabilities9 7209,323  
Total noncurrent liabilities:185,729 281,692245,706110,550121,648
Total liabilities:257,965 357,327324,149204,440213,721
Temporary equity, carrying amount79,193     
Stockholders' equity
Stockholders' equity attributable to parent(76,317) (25,644)(10,210)(39,331)(33,311)
Common stock33 33323130
Additional paid in capital431,874 426,025403,631355,301335,059
Accumulated deficit(508,224) (451,702)(413,873)(394,663)(368,400)
Total stockholders' equity:(76,317) (25,644)(10,210)(39,331)(33,311)
TOTAL LIABILITIES AND EQUITY:260,841 331,683313,939165,109180,410

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues263,097 295,686258,721256,735233,335
Cost of revenue(122,713) (144,090)(129,277)(124,156)(120,681)
Cost of goods and services sold(122,713) (144,090)(129,277)(10,328)(10,417)
Gross profit:140,384 151,596129,444132,579112,654
Operating expenses(146,094) (176,102)(169,143)(146,097)(144,822)
Operating loss:(5,710) (24,506)(39,699)(13,518)(32,168)
Nonoperating expense(29,416) (20,982)(12,900)(12,339)(7,873)
Interest and debt expense(7,520) (8,535)(5,685)(4,931)(1,095)
Loss from continuing operations before equity method investments, income taxes:(42,646) (54,023)(58,284)(30,788)(41,136)
Other undisclosed income from continuing operations before income taxes7,520 8,5355,6854,9311,095
Loss from continuing operations before income taxes:(35,126) (45,488)(52,599)(25,857)(40,041)
Income tax expense (benefit)2,960 (27)(28)(15)(17)
Net loss attributable to parent:(32,166) (45,515)(52,627)(25,872)(40,058)
Preferred stock dividends and other adjustments(6,400)     
Net loss available to common stockholders, diluted:(38,566) (45,515)(52,627)(25,872)(40,058)

Comprehensive Income ($ in thousands)

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

Statements sources

The financial statements are based on the company's filings with the 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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