- Benefitfocus (NASDAQ:BNFT) drops 8.8% with its Q4 beats offset by downside Q1 guidance and a secondary offering.
- Q1 guidance has revenue of $66.5M to $68.5M (consensus: $71.52M). Upside FY19 outlook has revenue from $301M to $309M compared to the $297.55M estimate.
- Secondary offering: Certain funds managed by Goldman Sachs and Mercer will offer about 5.7M shares of common stock. The sellers have granted the underwriters the option to purchase up to 855,714 in additional shares.
- Earnings call starts at 5 PM ET with a webcast here.
- Press release.
- Previously: Benefitfocus beats by $0.04, beats on revenue (Feb. 26)