BNFT - BNFT STOCK NEWS

Benefitfocus (NASDAQ: BNFT) announced that Steve Swad, President and CEO, and Alpana Wegner, CFO, will present at the Credit Suisse 29th Annual Virtual Healthcare Conference on November 11, 2020, at 8:45am ET. Interested parties can access a live audio webcast of this presentation on the Benefitfocus Investor website, where a replay will also be available. Benefitfocus aims to unify the U.S. benefits industry through its cloud-based platform, simplifying benefits administration for employers, health plans, and brokers.

Benefitfocus, Inc. (NASDAQ: BNFT) reported strong third-quarter results for 2020, exceeding revenue and adjusted EBITDA guidance. Total revenue reached $63.6 million, reflecting an 11% decline year-over-year, while adjusted EBITDA rose to $10.5 million, up from $2.9 million in Q3 2019. The company successfully implemented key customer projects and added new benefit catalog suppliers. Management is optimistic about future growth, outlining priorities focused on customer centricity, profitability, and strategic engagement areas. The fourth quarter revenue guidance is between $68.1 million and $78.1 million, with full-year expectations of $260 million to $270 million.

Benefitfocus (NASDAQ: BNFT) has launched phase two of its educational series, "Open Enrollment Success in the Era of COVID", aimed at supporting benefits administrators during the 2020 Open Enrollment period. This six-week series offers resources to enhance communications, addressing challenges posed by COVID-19. The Resource Center features materials such as webinars, blogs, and templates to assist in effective engagement with employees. Insights are drawn from their extensive experience in managing open enrollment events and employee interactions.

Benefitfocus (NASDAQ: BNFT) has appointed John Thomas as chief data officer to enhance its data strategy and drive product innovation. Thomas, who has over a decade of experience in data transformation, will work with the technology team to develop new data-driven applications aimed at improving customer experiences. CEO Steve Swad emphasized the company's data advantage in the market, while Thomas expressed optimism about leveraging data for personalized services and capabilities.

Benefitfocus (NASDAQ: BNFT) launched "Open Enrollment Success in the Era of COVID," a six-week educational program aimed at supporting benefits administrators during the 2020 Open Enrollment period. This series offers resources such as webinars, white papers, and checklists derived from extensive experience with employer Open Enrollment events. With disruptions from the pandemic, Benefitfocus underscores the importance of adapting strategies to meet employees' needs. The initiative reflects Benefitfocus's commitment to assist clients and ensure effective benefits administration.

Benefitfocus (NASDAQ: BNFT) announced it will release its third quarter 2020 financial results on November 5, 2020, after U.S. market close. A conference call will follow at 5:00 p.m. ET to discuss the results and business outlook. Interested parties can participate via phone or live webcast on the Investor Relations website. A replay will be available until November 12, 2020. Benefitfocus provides a cloud-based benefits platform to unify the U.S. benefits industry, serving employers, brokers, carriers, and suppliers.

On October 5, 2020, Benefitfocus (NASDAQ: BNFT) announced significant software updates aimed at enhancing user experience in benefit enrollment and administration. The updates leverage AI and analytics to support health plans, brokers, and consumers amid ongoing economic challenges. Key features include Quote-to-Pay Management, Smart Moments Event-Driven Messaging, and enhanced online chat capabilities. These enhancements are designed to streamline benefits management and provide deeper insights for employers to control healthcare costs, ultimately improving the entire benefits ecosystem.

Benefitfocus (NASDAQ: BNFT) announces the appointment of Ravi Metta as executive vice president of product and engineering, effective September 28, 2020. Metta, with over 20 years of experience in technology leadership, aims to enhance customer-focused product innovation. He previously worked at Intuit, where he led cloud transformation and product strategy. Jim Restivo, the current CTO, will assist in the transition until the end of 2020. CEO Steve Swad expresses enthusiasm for Metta's customer-centric approach and leadership skills.

Benefitfocus (NASDAQ: BNFT) announced the addition of PayActiv to its Benefit Catalog, enhancing its offerings for employers and health plans. PayActiv provides on-demand access to earned wages, helping hourly workers avoid financial pitfalls like overdrafts. This collaboration aims to improve financial wellness for employees, with potential savings of up to $50,000 annually for companies through reduced turnover. PayActiv serves over 3,000 businesses and claims to have saved users $240 million in fees over the past year.