Benefitfocus, Inc.

2022 Q3 Form 10-Q Financial Statement

#000156459022028209 Filed on August 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $55.12M $51.50M $58.97M
YoY Change -41.66% -73.34% -68.78%
Cash & Equivalents $55.12M $51.50M $58.97M
Short-Term Investments $0.00 $0.00 $0.00
Other Short-Term Assets $20.74M
YoY Change
Inventory
Prepaid Expenses
Receivables $27.60M $22.34M $49.26M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $101.0M $107.4M $108.2M
YoY Change -23.52% -53.89% -53.77%
LONG-TERM ASSETS
Property, Plant & Equipment $24.73M $26.05M $80.71M
YoY Change -71.47% -70.49% -15.4%
Goodwill $34.24M $34.24M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $132.7M $137.6M $143.1M
YoY Change 10.29% 15.25% 12.14%
TOTAL ASSETS
Total Short-Term Assets $101.0M $107.4M $108.2M
Total Long-Term Assets $132.7M $137.6M $143.1M
Total Assets $233.7M $245.0M $251.3M
YoY Change -7.41% -30.45% -30.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.064M $5.298M $6.466M
YoY Change -21.54% 45.59% -2.03%
Accrued Expenses $7.552M $17.55M $31.38M
YoY Change -76.67% -40.53% 21.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $5.186M
YoY Change
Total Short-Term Liabilities $71.06M $68.60M $66.12M
YoY Change 7.32% 11.82% 8.92%
LONG-TERM LIABILITIES
Long-Term Debt $112.2M $120.0M $119.8M
YoY Change 6.2% -36.89% -36.02%
Other Long-Term Liabilities $392.0K $372.0K $77.54M
YoY Change -99.53% -99.56% -8.99%
Total Long-Term Liabilities $392.0K $372.0K $197.3M
YoY Change -99.79% -99.86% -27.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $71.06M $68.60M $66.12M
Total Long-Term Liabilities $392.0K $372.0K $197.3M
Total Liabilities $258.6M $265.6M $263.4M
YoY Change 1.63% -20.91% -20.91%
SHAREHOLDERS EQUITY
Retained Earnings -$489.0M -$482.0M
YoY Change
Common Stock $384.9M $382.2M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$104.1M -$99.76M -$91.31M
YoY Change
Total Liabilities & Shareholders Equity $233.7M $245.0M $251.3M
YoY Change -7.41% -30.45% -30.52%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1

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<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 credit losses and returns, valuations of deferred income taxes, long-lived assets, capitalizable software development costs and the related amortization, contingent consideration, incremental borrowing rate used in lease accounting, the determination of the useful lives of assets, and the impairment assessment of right-of-use assets, 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>
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.
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12113866
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0
CY2022Q2 us-gaap Loss Contingency Receivable Current
LossContingencyReceivableCurrent
9240000
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-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities and accounts receivable. All of the Company’s cash, cash equivalents and restricted cash are held at financial institutions that management believes to be of high credit quality. The bank deposits of the Company exceed federally insured </p> <p style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">limits and are generally uninsured and uncollateralized. The Company has not experienced any losses on cash</span><span style="font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, </span><span style="font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">cash equivalents</span><span style="font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> and restricted cash</span><span style="font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> to date</span><span style="font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</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 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</span> customer exceeded 10% of accounts receivable as of June 30, 2022 and December 31, 2021. No customer exceeded 10% of total revenue in any of the three- and six-month periods ended June 30, 2022 and 2021.</p>
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12943644
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13764000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-16620000
CY2022Q2 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
1829000
CY2021Q2 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
1991000
us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
3485000
us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
3739000
CY2022Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2388000
CY2021Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2159000
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
4818000
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
4321000
CY2022Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
14958000
CY2021Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
16292000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12113866
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12943644
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-12164000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-15020000
us-gaap Net Income Loss
NetIncomeLoss
-14441000
us-gaap Net Income Loss
NetIncomeLoss
-17117000
CY2022Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1600000
CY2021Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1600000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3200000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3200000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-17641000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-20317000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34028422
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33080257
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33764103
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32787162
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.40
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.50
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.52
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.62
CY2022Q2 us-gaap Marketable Securities
MarketableSecurities
0
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
37049000
CY2021Q4 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
0
CY2021Q4 bnft Available For Sale Securities Debt Securities Net Carrying Amount
AvailableForSaleSecuritiesDebtSecuritiesNetCarryingAmount
37049000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0
CY2021Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
37049000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
167000
CY2022Q2 bnft Accounts For Returns
AccountsForReturns
2461000
CY2022Q2 us-gaap Accounts Receivable Gross
AccountsReceivableGross
24936000
CY2021Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
18970000
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
133000
CY2021Q4 bnft Accounts For Returns
AccountsForReturns
2312000
CY2022Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
22342000
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
16491000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
167000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
200000
us-gaap Accounts Receivable Change In Method Credit Loss Expense Reversal
AccountsReceivableChangeInMethodCreditLossExpenseReversal
7000
us-gaap Accounts Receivable Change In Method Credit Loss Expense Reversal
AccountsReceivableChangeInMethodCreditLossExpenseReversal
44000
bnft Allowance For Doubtful Accounts Receivable Write Offs And Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsAndRecoveries
41000
bnft Allowance For Doubtful Accounts Receivable Write Offs And Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsAndRecoveries
26000
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
133000
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
218000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
4253000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2558000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3689000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
721000
us-gaap Operating Lease Payments
OperatingLeasePayments
237000
us-gaap Operating Lease Payments
OperatingLeasePayments
240000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
15000
CY2022Q2 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2028-05-31
CY2022Q2 us-gaap Finance Lease Impairment Loss
FinanceLeaseImpairmentLoss
1769000
CY2021Q2 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2028-05-31
CY2021Q2 us-gaap Finance Lease Impairment Loss
FinanceLeaseImpairmentLoss
4003000
CY2020Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
45
CY2020Q2 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0800
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
CY2020Q2 bnft Percentage Of Hold Shares Of Preferred Stock Originally Purchased
PercentageOfHoldSharesOfPreferredStockOriginallyPurchased
0.10
CY2022Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P3Y
CY2022Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
13366384
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
95000000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
89500
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
4406059
CY2022Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
13366384
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
56587000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
125967000
CY2022Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
12815000
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
30272000
CY2021Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
9722000
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
31589000
CY2021Q2 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
0
CY2022Q2 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
0
CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
12450000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
22019000
CY2022Q2 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
0
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
0
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
227000000
bnft Percentage Taxable Income On Utilization Of Net Operating Loss In Indefinite Life Period Tax Cuts And Jobs Act Of2017
PercentageTaxableIncomeOnUtilizationOfNetOperatingLossInIndefiniteLifePeriodTaxCutsAndJobsActOf2017
0.80
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022Q2 bnft Reimbursement For Agreed Upon Fees And Expenses Including Legal Expenses
ReimbursementForAgreedUponFeesAndExpensesIncludingLegalExpenses
600000
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
46-2346314
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-36061
dei Entity Registrant Name
EntityRegistrantName
Benefitfocus, Inc.
CY2021Q4 us-gaap Assets Current
AssetsCurrent
112156000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26048000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
27202000
CY2022Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
50391000
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
56474000
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
669000
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
18988000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
21134000
CY2022Q2 us-gaap Goodwill
Goodwill
34237000
CY2022Q2 bnft Deferred Contract Costs And Other Non Current Assets
DeferredContractCostsAndOtherNonCurrentAssets
7283000
CY2021Q4 bnft Deferred Contract Costs And Other Non Current Assets
DeferredContractCostsAndOtherNonCurrentAssets
8864000
CY2022Q2 us-gaap Assets
Assets
245013000
CY2021Q4 us-gaap Assets
Assets
260841000
CY2022Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
5298000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
10565000
dei Entity Address State Or Province
EntityAddressStateOrProvince
SC
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
31001000
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
29492
dei Entity Address City Or Town
EntityAddressCityOrTown
Charleston
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei City Area Code
CityAreaCode
843
dei Entity Small Business
EntitySmallBusiness
false
dei Local Phone Number
LocalPhoneNumber
849-7476
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
51497000
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2022-06-30
dei Trading Symbol
TradingSymbol
BNFT
CY2022Q2 us-gaap Marketable Securities
MarketableSecurities
0
CY2021Q4 us-gaap Marketable Securities
MarketableSecurities
37049000
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
16491000
bnft Increase Decrease In Contract Prepaid And Other Current Assets
IncreaseDecreaseInContractPrepaidAndOtherCurrentAssets
-2410000
bnft Increase Decrease In Deferred Costs And Other Non Current Assets
IncreaseDecreaseInDeferredCostsAndOtherNonCurrentAssets
-1582000
bnft Increase Decrease In Deferred Costs And Other Non Current Assets
IncreaseDecreaseInDeferredCostsAndOtherNonCurrentAssets
-1249000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-6025000
us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
-4853000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-15020000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-62691000
us-gaap Profit Loss
ProfitLoss
-17117000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
13462000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
12525000
us-gaap Share Based Compensation
ShareBasedCompensation
6504000
us-gaap Share Based Compensation
ShareBasedCompensation
5899000
bnft Accretion Of Interest On Convertible Senior Notes
AccretionOfInterestOnConvertibleSeniorNotes
377000
bnft Accretion Of Interest On Convertible Senior Notes
AccretionOfInterestOnConvertibleSeniorNotes
5780000
bnft Non Cash Accrued Finance Lease Interest Expense
NonCashAccruedFinanceLeaseInterestExpense
22000
bnft Non Cash Accrued Finance Lease Interest Expense
NonCashAccruedFinanceLeaseInterestExpense
3244000
bnft Rent Expense Less Than Payments
RentExpenseLessThanPayments
-54000
bnft Rent Expense Less Than Payments
RentExpenseLessThanPayments
-27000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5851000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1354000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
101000
bnft Increase Decrease In Contract Prepaid And Other Current Assets
IncreaseDecreaseInContractPrepaidAndOtherCurrentAssets
-4016000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3520000
us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
-4907000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
139000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-615000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
60000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3699000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
17927000
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
0
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
48000000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
23406000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
21935000
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13571000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
22806000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
98062000
CY2021Q4 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
2377000
CY2021Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
107281000
CY2021Q4 bnft Lease Liabilities And Financing Obligations Noncurrent
LeaseLiabilitiesAndFinancingObligationsNoncurrent
75758000
CY2021Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
313000
CY2021Q4 us-gaap Liabilities
Liabilities
257965000
CY2021Q4 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
5000000
CY2021Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
1777778
CY2021Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
1777778
CY2021Q4 us-gaap Temporary Equity Liquidation Preference Per Share
TemporaryEquityLiquidationPreferencePerShare
45
CY2021Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
79193000
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
95000000
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
33460545
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
33460545
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
33000
CY2021Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
431874000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-508224000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-76317000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
260841000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
60904000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
117812000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
125967000
CY2022Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
29095000
CY2021Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
28030000
CY2022Q2 us-gaap Gross Profit
GrossProfit
27492000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-15020000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9451000
CY2022Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
11557000
CY2021Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
16411000
CY2021Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
27756000
CY2022Q2 bnft Lease Liabilities And Financing Obligations Current
LeaseLiabilitiesAndFinancingObligationsCurrent
6387000
CY2021Q4 bnft Lease Liabilities And Financing Obligations Current
LeaseLiabilitiesAndFinancingObligationsCurrent
7378000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
60904000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
117812000
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
18051000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
30133000
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
15105000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
32204000
CY2022Q2 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0

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