Benefitfocus, Inc.

2021 Q1 Form 10-Q Financial Statement

#000156459021024356 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $188.9M $114.7M
YoY Change 64.66% -20.46%
Cash & Equivalents $94.05M $114.7M
Short-Term Investments $94.82M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $45.30M $54.70M
Other Receivables $0.00 $0.00
Total Short-Term Assets $234.1M $169.4M
YoY Change 38.19% -11.51%
LONG-TERM ASSETS
Property, Plant & Equipment $95.40M $108.8M
YoY Change -12.32% 298.18%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $127.6M $144.2M
YoY Change -11.51% -3.58%
TOTAL ASSETS
Total Short-Term Assets $234.1M $169.4M
Total Long-Term Assets $127.6M $144.2M
Total Assets $361.7M $313.6M
YoY Change 15.34% -8.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.600M $6.300M
YoY Change 4.76% 31.25%
Accrued Expenses $25.90M $31.40M
YoY Change -17.52% 22.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $60.70M $67.50M
YoY Change -10.07% -6.51%
LONG-TERM LIABILITIES
Long-Term Debt $187.2M $200.9M
YoY Change -6.82% -24.45%
Other Long-Term Liabilities $85.20M $68.00K
YoY Change 125194.12% -99.49%
Total Long-Term Liabilities $272.4M $68.00K
YoY Change 400488.24% -99.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $60.70M $67.50M
Total Long-Term Liabilities $272.4M $68.00K
Total Liabilities $333.1M $356.1M
YoY Change -6.46% 1.34%
SHAREHOLDERS EQUITY
Retained Earnings -$462.9M
YoY Change
Common Stock $420.4M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$50.61M -$42.47M
YoY Change
Total Liabilities & Shareholders Equity $361.7M $313.6M
YoY Change 15.33% -8.03%

Cashflow Statement

Concept 2021 Q1 2020 Q1

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
0
CY2020Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
15630000
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
9862000
CY2021Q1 us-gaap Restructuring Charges
RestructuringCharges
1400000
CY2020Q1 us-gaap Restructuring Charges
RestructuringCharges
0
CY2021Q1 us-gaap Operating Expenses
OperatingExpenses
32985000
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
3485000
CY2019Q4 us-gaap Temporary Equity Liquidation Preference Per Share
TemporaryEquityLiquidationPreferencePerShare
0
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-5671000
CY2021Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
57000
CY2020Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
426000
CY2020Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
55000
CY2021Q1 bnft Increase Decrease In Contract Prepaid And Other Current Assets
IncreaseDecreaseInContractPrepaidAndOtherCurrentAssets
-463000
CY2020Q1 bnft Increase Decrease In Contract Prepaid And Other Current Assets
IncreaseDecreaseInContractPrepaidAndOtherCurrentAssets
-252000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-11131000
CY2021Q1 bnft Increase Decrease In Deferred Costs And Other Non Current Assets
IncreaseDecreaseInDeferredCostsAndOtherNonCurrentAssets
-823000
CY2020Q1 bnft Increase Decrease In Deferred Costs And Other Non Current Assets
IncreaseDecreaseInDeferredCostsAndOtherNonCurrentAssets
-557000
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
5835000
CY2020Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1593000
CY2021Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1600000
CY2020Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
-50614000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
-2097000
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-11136000
CY2021Q1 bnft Rent Expense Less Than Payments
RentExpenseLessThanPayments
-13000
CY2020Q1 bnft Rent Expense Less Than Payments
RentExpenseLessThanPayments
-9000
CY2021Q1 bnft Non Cash Interest Income For Short Term Investment
NonCashInterestIncomeForShortTermInvestment
-227000
CY2020Q1 bnft Non Cash Interest Income For Short Term Investment
NonCashInterestIncomeForShortTermInvestment
0
CY2021Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3697000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-11136000
CY2021Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2097000
CY2020Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-11136000
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.34
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
155000
CY2021Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1523000
CY2021Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1600000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-2097000
CY2021Q1 us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
-7208000
CY2020Q1 us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
-4000000
CY2021Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
426000
CY2020Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-3969000
CY2021Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
32000
CY2020Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-24000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8764000
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7170000
CY2021Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
22329000
CY2020Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
0
CY2021Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
22500000
CY2020Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
0
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1893000
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3821000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1722000
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3821000
CY2021Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0
CY2020Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
10000000
CY2021Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
CY2020Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
154000
CY2021Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
1600000
CY2020Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
9383000
CY2021Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
155000
CY2020Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
73000
CY2021Q1 bnft Payments On Financing Obligations
PaymentsOnFinancingObligations
223000
CY2020Q1 bnft Payments On Financing Obligations
PaymentsOnFinancingObligations
207000
CY2021Q1 bnft Payments Of Principle On Financing Lease Obligations
PaymentsOfPrincipleOnFinancingLeaseObligations
2034000
CY2020Q1 bnft Payments Of Principle On Financing Lease Obligations
PaymentsOfPrincipleOnFinancingLeaseObligations
5600000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3702000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5271000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3340000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-16262000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
90706000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
130976000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
94046000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
114714000
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:9pt;font-family:Arial;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Such estimates include allowances for doubtful accounts and returns, valuations of deferred income taxes, long-lived assets, capitalizable software development costs and the related amortization, incremental borrowing rate used in lease accounting, the determination of the useful lives of assets, and the impairment assessment of acquired intangibles and goodwill. Additionally as described in revenue and deferred revenue below, estimates are utilized in association with revenue recognition, in particular the estimation of variable consideration using the expected value method from insurance broker commissions reported in Platform revenue. Determination of these transactions and account balances are based on, among other things, the Company’s estimates and judgments. These estimates are based on the Company’s knowledge of current events and actions it may undertake in the future as well as on various other assumptions that it believes to be reasonable. Actual results could differ materially from these estimates.</p>
CY2021Q1 bnft Contract Cost Payment Term Description
ContractCostPaymentTermDescription
The Company capitalizes costs to obtain contracts that are considered incremental and recoverable, such as sales commissions.  Payments of sales commissions generally include multiple payments. The Company capitalizes only those payments made within an insignificant time from the contract inception, typically three months or less.  Subsequent payments are expensed as incurred. The capitalized costs are amortized to sales and marketing expense over the estimated period of benefit of the asset, which is generally four to five years. The Company expenses the costs to obtain a contract when the amortization period is less than one year.
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3697000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-11136000
CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32490811
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32638805
CY2021Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:9pt;font-family:Arial;text-transform:none;font-variant: normal;">Concentrations of Credit Risk</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> <span style="font-size:9pt;font-family:Arial;">The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash equivalents, marketable securities, and accounts receivable. All of the Company’s cash and cash equivalents are held at financial institutions that management believes to be of high credit quality. The bank deposits of the Company might at times, exceed federally insured limits and are generally uninsured and uncollateralized. The Company has not experienced any losses on cash and cash equivalents to date.</span></p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">To manage credit risk related to marketable securities, the Company invests in various types of highly rated corporate bonds, commercial paper, and various United States backed securities with maturities of less than two years. The weighted average maturity of the portfolio of investments must not exceed nine months, per the Company’s investment policy.</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">To manage accounts receivable risk, the Company evaluates the creditworthiness of its customers and maintains an allowance for doubtful accounts. Accounts receivable are unsecured and derived from revenue earned from customers located in the United States. <span style="color:#000000;"> No customer exceeded 10% of accounts receivable as of March 31, 2021 and December 31, 2020. </span> No customer exceeded 10% of total revenue in either of the three-month periods ended March 31, 2021 and 2020.</p>
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11723330
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6207432
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-2097000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-11136000
CY2021Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1600000
CY2020Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0
CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.11
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.34
CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
94822000
CY2021Q1 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
0
CY2021Q1 bnft Available For Sale Securities Debt Securities Net Carrying Amount
AvailableForSaleSecuritiesDebtSecuritiesNetCarryingAmount
94822000
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
13000
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
11000
CY2021Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
94824000
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
95085000
CY2020Q4 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
0
CY2020Q4 bnft Available For Sale Securities Debt Securities Net Carrying Amount
AvailableForSaleSecuritiesDebtSecuritiesNetCarryingAmount
95085000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
6000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
5000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
95086000
CY2021Q1 us-gaap Accounts Receivable Gross
AccountsReceivableGross
28148000
CY2020Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
26791000
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
248000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
200000
CY2021Q1 bnft Accounts For Returns
AccountsForReturns
3405000
CY2020Q4 bnft Accounts For Returns
AccountsForReturns
4351000
CY2021Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
24495000
CY2020Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
22240000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
200000
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
155000
CY2021Q1 us-gaap Accounts Receivable Change In Method Credit Loss Expense Reversal
AccountsReceivableChangeInMethodCreditLossExpenseReversal
48000
CY2020Q1 us-gaap Accounts Receivable Change In Method Credit Loss Expense Reversal
AccountsReceivableChangeInMethodCreditLossExpenseReversal
131000
CY2021Q1 bnft Allowance For Doubtful Accounts Receivable Write Offs And Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsAndRecoveries
0
CY2020Q1 bnft Allowance For Doubtful Accounts Receivable Write Offs And Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsAndRecoveries
44000
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
248000
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
242000
CY2020Q2 bnft Preferred Stock Redemption Percent Of Stated Value
PreferredStockRedemptionPercentOfStatedValue
1.05
CY2020Q2 bnft Shares Will Beneficially Own In Excess Of Shares Of Common Stock Outstanding
SharesWillBeneficiallyOwnInExcessOfSharesOfCommonStockOutstanding
0.199
CY2020Q2 bnft Common Stock Shares Outstanding Ownership Percentage
CommonStockSharesOutstandingOwnershipPercentage
0.199
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
122000
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2020Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
45
CY2020Q2 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0800
CY2021Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2034000
CY2021Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
102000
CY2020Q2 bnft Percentage Of Hold Shares Of Preferred Stock Originally Purchased
PercentageOfHoldSharesOfPreferredStockOriginallyPurchased
0.10
CY2021Q1 bnft Percentage Taxable Income On Utilization Of Net Operating Loss In Indefinite Life Period Tax Cuts And Jobs Act Of2017
PercentageTaxableIncomeOnUtilizationOfNetOperatingLossInIndefiniteLifePeriodTaxCutsAndJobsActOf2017
0.80
CY2021Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
215000000
CY2021Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P3Y
CY2021Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
11472179
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
106928
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
2119282
CY2021Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
11472179
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
65063000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
66154000
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
15105000
CY2021Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
12311000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
32204000
CY2021Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
32630000
CY2019Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
16685000
CY2020Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
13870000
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
38508000
CY2020Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
34539000
CY2020Q1 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2021Q1 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2021Q1 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
0
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
12785000
CY2021Q1 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
1529000
CY2021Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
667000
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
7358000
CY2020Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
3993000
CY2021Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
167000
CY2020Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
667000
CY2021Q2 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2028-05-31
CY2021Q2 us-gaap Impairment Charge On Reclassified Assets
ImpairmentChargeOnReclassifiedAssets
3000000
CY2021Q2 us-gaap Impairment Charge On Reclassified Assets
ImpairmentChargeOnReclassifiedAssets
4000000

Files In Submission

Name View Source Status
0001564590-21-024356-index-headers.html Edgar Link pending
0001564590-21-024356-index.html Edgar Link pending
0001564590-21-024356.txt Edgar Link pending
0001564590-21-024356-xbrl.zip Edgar Link pending
bnft-10q_20210331.htm Edgar Link pending
bnft-10q_20210331_htm.xml Edgar Link completed
bnft-20210331.xsd Edgar Link pending
bnft-20210331_cal.xml Edgar Link unprocessable
bnft-20210331_def.xml Edgar Link unprocessable
bnft-20210331_lab.xml Edgar Link unprocessable
bnft-20210331_pre.xml Edgar Link unprocessable
bnft-ex311_7.htm Edgar Link pending
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bnft-ex321_6.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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