Benefitfocus Hosts Investor Day and Provides an Update on Progress Against its Transformational Strategy
Company to host Investor Day in
Will provide further details on strategy to drive growth by year end 2022
Will present ongoing product and technology improvements,
service investments and go-to-market strategy
Benefitfocus’ management team will provide an update on the significant progress made on the Company’s strategic pillars, report on its transformation, elaborate on key upcoming operational milestones and its longer-term financial goals.
Members of Benefitfocus’ leadership team will outline the compelling value proposition for customers and shareholders:
- Large and Growing Total Addressable Market: The market in which
Benefitfocusoperates is large, underpenetrated and offers a growing opportunity. With an expected TAM reaching over $30 billionby 2025, the Company is well positioned to expand its presence by improving its core functions, moving into adjacencies and leveraging favorable industry tailwinds.
- Differentiated and Scalable Technology: With more than 20 years of domain expertise, customer-centric technology platform and extensive data sets,
Benefitfocushas the unique ability to solve complex problems with comprehensive product offerings that simplify the benefits administration process and reduce costs for both employers and health plans.
- Durable Business Model: Leveraging its strong industry heritage and deep customer relationships, Benefitfocus’ attractive subscription model and sustainable growth model creates a strong competitive moat that provides predictable revenue streams.
- Transformation Growth Strategy:
Benefitfocusis executing a compelling transformation strategy – strengthening the core, growing with intent and increasing operational efficiency – harnessing the power of its team, technology platform, service excellence and customer relationships. The Company has demonstrated strong progress over the past year and is on track to achieve its growth goals.
- Unrivaled Leadership Team:
Benefitfocushas one of the industry’s most tenured and experienced executive teams, with nearly 200 years of combined health care and benefits administration experience. The team is leading the business transformation to reposition Benefitfocusfor a return to growth and – more importantly – to be a safe set of hands for customers.
The Company continues to expect an inflection point in growth by the fourth quarter of 2022, as it continues to improve service levels, enhance its products and technology platform and convert existing customer prospects to closed sales.
For 2023, the Company is targeting a year-over-year revenue growth rate in the low-single digits and, as it continues to grow into adjacencies, it targets a growth rate in the low double digits by 2025.
“In the coming years, I expect
Benefitfocus’ Investor Day presentation will be available via webcast at https://investorday.benefitfocus.com from
Benefitfocus (NASDAQ: BNFT) is a cloud-based benefits administration technology company committed to helping our customers, and the people they serve, get the most out of their health care and benefit programs. Through exceptional service and innovative SaaS solutions, we aim to be the safest set of hands for our customers helping to simplify the complexity of benefits administration while delivering an experience that engages people and unlocks the potential for better health and improved outcomes. Our mission is simple: to improve lives with benefits.
Safe Harbor Statement
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: our need to increase sales and achieve consistent GAAP profitability; fluctuations in our financial results; our ability to maintain our culture and recruit, integrate and retain qualified personnel, including on our board of directors; our ability to compete effectively and implement our growth strategy; our reliance on channel relationships; market developments and opportunities; the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable regulations; the immature and volatile nature of the market for our products and services; privacy; security and other risks associated with our business; management of growth; volatility and uncertainty in the global economy and financial markets in light of the evolving COVID-19 pandemic and war in
Source: Benefitfocus, Inc.