BNFT - BNFT STOCK NEWS

A Total Economic Impact study by Forrester Consulting reveals that Benefitfocus' single platform solution, Benefitplace, significantly enhances data quality and automates processes for health plans. This enables these organizations to save millions, with quantified benefits including $6.3 million from avoiding legacy systems, $1.4 million from moving online enrollments, and $9 million saved over three years. The study highlights improved operational flexibility, customer satisfaction, and resilience to market changes, confirming the platform’s substantial ROI.

Benefitfocus (NASDAQ: BNFT) responded to Indaba Capital Management's rejection of a customary cooperation agreement aimed at appointing Ronald P. Mitchell to its board. The company expressed disappointment over Indaba's misrepresentation of negotiations. Benefitfocus emphasized the importance of board policies for protecting shareholder interests. It outlined recent governance enhancements, including the appointment of Coretha Rushing to the board and plans to declassify the board at the upcoming annual meeting. Detailed proxy statements will be available soon.

Indaba Capital Management, owning approximately 9.5% of Benefitfocus (NASDAQ: BNFT), expresses disappointment over the company's refusal to engage in constructive dialogue regarding board refreshment. Indaba had nominated Ronald P. Mitchell and Nicholas K. Pianim for the board, seeking a settlement to improve governance. However, Indaba argues that Benefitfocus has dismissed its proposals without proper consideration. The letter outlines concerns about the board's governance practices and the perceived resistance to independent director influence, emphasizing the need for enhanced shareholder engagement.

Benefitfocus (NASDAQ: BNFT) released its 2021 report on employee benefits, focusing on trends in benefit plan design and participation amidst the COVID-19 pandemic. The analysis, based on over 3.5 million enrollment records from large employers, reveals a growth in high-deductible health plans (HDHPs) and voluntary income protection benefits. Employers expanded offerings to meet diverse workforce needs, absorbing more health plan costs. Key findings include a 30% rise in HDHP participation since 2018 and a significant increase in supplemental benefit plans.

Benefitfocus (NASDAQ: BNFT) announced Dan Dennis, Vice President and Chief Information Security Officer, has joined the SC Tech Executive Forum, aimed at enhancing South Carolina's technology landscape. This forum, initiated by the South Carolina Council on Competitiveness, seeks to foster economic growth and innovation. Dennis brings over 20 years of cybersecurity expertise and will engage with statewide technology leaders to support the forum's mission of developing a competitive tech workforce. The initiative includes quarterly meetings and strategic planning sessions to strengthen the technology community.

Benefitfocus (NASDAQ: BNFT) has appointed Coretha M. Rushing, a seasoned human resources executive, as an independent director to its board. With over 30 years of experience, Rushing previously held leadership roles at Equifax and Coca-Cola, and is currently managing director at Merryck & Co. Doug Dennerline, chairman of the nominating committee, expressed enthusiasm for Rushing’s insights in enhancing shareholder value. Rushing emphasized her commitment to delivering value through Benefitfocus' integrated benefits enrollment platform, marking a pivotal moment for the company.

Indaba Capital Management, holding approximately 9.5% of Benefitfocus (NASDAQ: BNFT), has nominated two independent candidates for the Company's Board of Directors amidst concerns over corporate governance. Indaba criticizes the current Board for its anti-shareholder culture, citing years of value destruction with significant share price declines. They argue for a more diversified and experienced Board, essential for driving operational improvements. Indaba advocates for urgent changes to restore shareholder confidence and enhance governance.

Benefitfocus, Inc. (NASDAQ: BNFT) reported record Q4 adjusted EBITDA of $20.2 million and GAAP EPS of $0.04, reflecting the company's strategic growth initiatives. Despite achieving all guidance metrics, total revenue of $76.2 million represented a 13% decline year-over-year, with software services declining by 9%. However, the company improved non-GAAP net income to $8.7 million and free cash flow to $13.4 million. For 2021, guidance anticipates revenue between $254 million and $260 million, with adjusted EBITDA projected at $44 million to $50 million.

Benefitfocus, Inc. (NASDAQ: BNFT) has released an e-book summarizing a study on enhancing customer experiences in health insurance. Sponsored by Benefitfocus and conducted by ACORD, the study highlights three key findings about platform adoption: the impact of changing consumer and regulatory landscapes, the value of platform-centric business models, and the necessity for insurers to embrace bold changes. The research, conducted over a decade, emphasizes the correlation between these models and expense optimization in the health insurance sector, presenting opportunities for improved efficiency and customer satisfaction.