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Benefitfocus Income Statement 2021-2009 | BNFT
Brief overview of revenue and earnings at Benefitfocus
The comparison covers a five-year financial horizon. Revenue reported by Benefitfocus was $237 million at the beginning of the period and $263 million at the end. The total change was +11.2%, with a CAGR of approximately 2.2%. Sales changed only slightly and remained broadly flat.
At the gross-profit level, the result moved from 113 million dollars to 140 million dollars, a change of +24%. The cost base moved more slowly than the top line, which supported margins. At the margin level, the figure shifted from 47.9% to 53.4%. The expansion indicates stronger pricing power or better control of direct costs.
The operating result measured by EBITDA moved from −19.4 million dollars to 17.4 million dollars, or +189.6%. EBITDA expanded faster than the top line. EBITDA margin was −8.2% at the start and 6.6% at the end. The company improved its ability to convert sales into EBITDA.
Net income moved from −40.3 million dollars at the start to −32.2 million dollars at the end. Losses became smaller, but the business remains unprofitable.
The market value of the business moved from 786 million dollars to 334 million dollars, or −57.5%. Investors remain cautious despite better financial results.
Overall conclusion
Positive developments coexist with areas of weakness. The constructive conclusion rests on improving gross profitability, an improving EBITDA margin and a stronger final result. The overall view is constrained by limited revenue growth and a weaker market valuation. Investors should continue to monitor margins, costs, and earnings quality.
Annual Income Statement Benefitfocus
| 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
334 M | 491 M | 406 M | 1.56 B | 751 M | 786 M | 890 M | 821 M | 657 M | - | - | - | - |
Shares |
33.1 M | 32.3 M | 32.5 M | 31.8 M | 31.1 M | 29.6 M | 28.3 M | 25.2 M | 10.1 M | 4.81 M | 4.88 M | 6.41 M | - |
Historical Prices |
10.1 | 15.2 | 12.5 | 49.1 | 24.2 | 26.6 | 31.4 | 32.6 | 64.8 | - | - | - | - |
Net Income |
-32.2 M | -24.3 M | -45.5 M | -52.6 M | -50.3 M | -40.3 M | -62.1 M | -63.2 M | -30.4 M | -14.9 M | -15.1 M | -2.48 M | - |
Revenue |
263 M | 268 M | 296 M | 259 M | 237 M | 237 M | 185 M | 137 M | 105 M | 81.7 M | 68.8 M | 67.1 M | - |
Cost of Revenue |
123 M | 129 M | 144 M | 129 M | 127 M | 123 M | 103 M | 87.5 M | 62.4 M | 44.4 M | 42.1 M | 38.9 M | - |
Gross Profit |
140 M | 139 M | 152 M | 129 M | 109 M | 113 M | 82.3 M | 50 M | 42.3 M | 37.3 M | 26.6 M | 28.3 M | - |
Operating Income |
-5.71 M | -2.97 M | -24.5 M | -39.7 M | -37.9 M | -32.5 M | -54.3 M | -58.9 M | -28.2 M | -12.8 M | -13 M | -610 K | - |
Interest Expense |
-1.34 M | -6 K | -71 K | 6 K | -140 K | -90 K | -4 K | 3.62 M | 1.77 M | 1.77 M | 1.97 M | 1.97 M | - |
EBITDA |
17.4 M | 19.8 M | -4.09 M | -24 M | -22.3 M | -19.4 M | -42.6 M | -49.4 M | -20 M | -4.24 M | -5.71 M | 6 M | - |
Operating Expenses |
146 M | 142 M | 176 M | 169 M | 147 M | 146 M | 137 M | 109 M | 70.5 M | 50.1 M | 39.7 M | 28.9 M | - |
General and Administrative Expenses |
50.9 M | 37.7 M | 45.3 M | 43.1 M | 27.3 M | 32.8 M | 25.7 M | 18.7 M | 11 M | 7.49 M | 5.82 M | 6.04 M | - |
All numbers in USD currency
Quarterly Income Statement Benefitfocus
| 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
- | 34.3 M | 34 M | 33.5 M | 33.5 M | 33.4 M | 33.1 M | 32.5 M | 32.3 M | 32.3 M | 32.1 M | 32.6 M | 32.8 M | 32.7 M | 32.6 M | 32.1 M | 32 M | 31.9 M | 31.8 M | 31.3 M | 31.3 M | 31.2 M | 31.1 M | 30.7 M | 30 M | 29.7 M | 29.5 M | 29.2 M | 29.1 M | 28.8 M | 28.6 M | 26.7 M | 25.6 M | 25.5 M | 25.2 M | 24.5 M | 24.5 M | 6.32 M | 4.81 M | 4.8 M | 4.84 M | 4.84 M | 4.83 M | 4.81 M | - | - | - | - |
Net Income |
- | -6.99 M | -12.2 M | -2.28 M | - | -18.1 M | -15 M | -2.1 M | - | -4.4 M | -11.9 M | -11.1 M | -3.79 M | -12.6 M | -14.9 M | -14.2 M | -13 M | -11.6 M | -14.3 M | -13.8 M | -6.86 M | -6.67 M | -4.51 M | -7.69 M | -7.1 M | -8.6 M | -11 M | -13.4 M | -12.5 M | -16.7 M | -18.3 M | -14.6 M | -13.7 M | -18.9 M | -18.2 M | -12.4 M | -8.28 M | -6.84 M | -9.63 M | -5.62 M | -2.03 M | -2.41 M | -5.69 M | -4.74 M | - | - | - | - |
Revenue |
- | 56.2 M | 56.6 M | 61.2 M | - | 62 M | 60.9 M | 65.1 M | - | 63.6 M | 62.2 M | 66.2 M | 87.1 M | 71.7 M | 68.6 M | 68.3 M | 74.8 M | 61 M | 60.6 M | 62.4 M | 66.8 M | 62.5 M | 63.3 M | 64.2 M | 62.6 M | 58 M | 57.9 M | 54.8 M | 54.3 M | 45.4 M | 42.7 M | 42.7 M | 40.2 M | 34.2 M | 32.3 M | 30.7 M | 30.3 M | 26.3 M | 24.3 M | 23.8 M | 22.2 M | 20.8 M | 19.6 M | 19.1 M | - | - | - | - |
Cost of Revenue |
- | 29.9 M | 29.1 M | 29.9 M | - | 31.2 M | 28 M | 28.6 M | - | 30.1 M | 30.4 M | 33.9 M | - | 35.6 M | 32.8 M | 32.9 M | - | 31.7 M | 30.7 M | 31.4 M | - | 30.5 M | 28.8 M | 31.6 M | - | 29.1 M | 29.8 M | 29.3 M | - | 26.3 M | 23.6 M | 22.5 M | - | 23.4 M | 21 M | 19.2 M | - | 16.2 M | 14.3 M | 12.4 M | - | 10.9 M | - | - | - | - | - | - |
Gross Profit |
- | 26.3 M | 27.5 M | 31.3 M | - | 30.8 M | 32.9 M | 36.5 M | - | 33.5 M | 31.8 M | 32.2 M | 44.3 M | 36.1 M | 35.8 M | 35.4 M | 39.4 M | 29.3 M | 29.9 M | 31 M | 33.7 M | 32 M | 34.5 M | 32.6 M | 30.1 M | 28.9 M | 28.1 M | 25.5 M | 23.9 M | 19.2 M | 19.1 M | 20.2 M | 16.3 M | 10.8 M | 11.3 M | 11.5 M | 10.8 M | 10.1 M | 10 M | 11.4 M | 10.3 M | 10.2 M | 8.28 M | 8.58 M | - | - | - | - |
Operating Income |
- | -6.53 M | -9.97 M | -37 K | - | -5.11 M | -9.45 M | 3.48 M | - | 202 K | -6.09 M | -5.67 M | 1.65 M | -7.31 M | -9.79 M | -9.06 M | -9.64 M | -8.33 M | -11.1 M | -10.7 M | -3.63 M | -3.62 M | -1.48 M | -4.64 M | -5.06 M | -6.52 M | -9.09 M | -11.5 M | -10.6 M | -14.8 M | -16.4 M | -12.5 M | -11.9 M | -17.8 M | -17.4 M | -11.8 M | -7.69 M | -6.36 M | -9.08 M | -5.06 M | -1.49 M | -1.9 M | -5.17 M | -4.24 M | - | - | - | - |
Interest Expense |
- | 362 K | 236 K | 246 K | - | 120 K | 64 K | -42 K | - | 1 K | 2 K | 5 K | - | 3 K | -73 K | 9 K | - | 2 K | 13 K | - | - | 9 K | -1 K | -148 K | - | -133 K | -3 K | - | - | -1 K | 5 K | - | - | 1.14 M | 797 K | 588 K | - | -554 K | 523 K | 520 K | - | 37 K | - | - | - | - | - | - |
EBITDA |
- | 13.4 M | 3.5 M | 6.7 M | - | 13.9 M | 3.07 M | 9.84 M | - | 18.7 M | 6.01 M | 213 K | 1.65 M | 9.32 M | 1.16 M | -3.72 M | -9.64 M | -4.38 M | -7.03 M | -6.74 M | -3.63 M | 288 K | 2.46 M | -640 K | -5.06 M | -3.22 M | -5.82 M | -8.45 M | -10.6 M | -11.8 M | -13.5 M | -9.63 M | -11.9 M | -15.2 M | -14.9 M | -9.38 M | -7.69 M | -4.32 M | -7.1 M | -3.16 M | -1.49 M | -22 K | -5.17 M | -4.24 M | - | - | - | - |
Operating Expenses |
- | 32.9 M | 37.5 M | 31.4 M | - | 35.9 M | 42.3 M | 33 M | - | 33.3 M | 37.9 M | 37.9 M | 42.6 M | 43.4 M | 45.6 M | 44.5 M | 49 M | 37.6 M | 40.9 M | 41.6 M | 37.3 M | 35.6 M | 36 M | 37.2 M | 35.2 M | 35.4 M | 37.2 M | 37 M | 34.5 M | 34 M | 35.5 M | 32.7 M | 28.2 M | 28.6 M | 28.7 M | 23.3 M | 18.5 M | 16.5 M | 19.1 M | 16.5 M | 11.8 M | 12.1 M | 13.5 M | 12.8 M | - | - | - | - |
General and Administrative Expenses |
- | 10.5 M | 13.5 M | 9.29 M | - | 12.2 M | 17.6 M | 9.86 M | - | 9.42 M | 9.38 M | 10.5 M | - | 10.8 M | 11.8 M | 11.8 M | - | 9.26 M | 10.4 M | 9.69 M | - | 6.85 M | 5.88 M | 7.76 M | - | 7.75 M | 8.27 M | 8.4 M | - | 6.78 M | 6.39 M | 5.41 M | - | 5.03 M | 4.27 M | 3.53 M | - | 2.62 M | 2.74 M | 2.82 M | - | 1.79 M | - | - | - | - | - | - |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Benefitfocus (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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