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July 04, 2015 12:30 AM ET

Health Care Technology

Company Overview of Connecture, Inc.

Company Overview

Connecture, Inc., together with its subsidiaries, operates as a Web-based consumer shopping, enrollment, and retention platform for health insurance distribution. It serves health insurance marketplace operators, such as health plans, brokers, and exchange operators. The company was formerly known as SimplyHealth.com, Inc. and changed its name to Connecture, Inc. in 2002. Connecture, Inc. was founded in 1999 and is headquartered in Brookfield, Wisconsin.

18500 West Corporate Drive

Suite 250

Brookfield, WI 53045

United States

Founded in 1999

427 Employees

Phone:

262-432-8282

Fax:

262-432-0075

Key Executives for Connecture, Inc.

Chief Executive Officer, President and Director
Age: 59
Total Annual Compensation: $1.6M
Chief Financial Officer and Corporate Secretary
Age: 42
Total Annual Compensation: $568.4K
Senior Vice President and General Manager of Insureadvantage
Age: 60
Total Annual Compensation: $531.0K
Executive Vice President of Strategy and Corporate Development
Age: 51
Total Annual Compensation: $433.1K
Compensation as of Fiscal Year 2014.

Connecture, Inc. Key Developments

Connecture, Inc., Annual General Meeting, Jun 26, 2015

Connecture, Inc., Annual General Meeting, Jun 26, 2015., at 09:00 Central Standard Time. Location: the offices of DLA Piper LLP. Agenda: To elect two class I directors to hold office for three-year terms and until their respective successors are elected and qualified, or their earlier death, resignation or removal; to ratify the appointment of Deloitte & Touche LLP as independent registered public accounting firm for the fiscal year ending December 31, 2015; and to transact such other business.

Connecture, Inc. Appoints Steve Cohen as Vice President of Sales for On Ramp Product

Connecture, Inc. announced that Steve Cohen will serve as the vice president of sales for Connecture's On Ramp product. Cohen brings more than 25 years of sales management experience working in the fields of health insurance, human resources and employee benefits to the company. In his new role, Cohen will draw on his experience helping customers utilize technology to streamline the administration of benefits and gain an advantage in the ongoing competition to attract and keep top talent. As vice president of sales, he will oversee sales teams serving customers for On Ramp's, a robust, secure and time-tested online benefits marketplace. At Connecture, Steve will report to William Spehr, executive vice president of sales and marketing.

Connecture, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter of 2015 and for the Full Year of 2015

Connecture, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. Total revenue was $20.6 million, reflecting an increase of 28.6% compared to $16.1 million in the first quarter of 2014. Operating loss was $3.7 million, narrowing from an operating loss of $5.5 million in the first quarter of 2014. Loss before Income taxes was $5.1 million against $6.6 million reported last year. Net loss was $5.1 million or $0.24 per diluted share compared to net loss of $6.6 million or $41.34 per diluted share reported in the first quarter of 2014. Cash used in operations was $6.3 million, improving from cash used in operations of $8.3 million for the first quarter of 2014. Purchase of property and equipment was $0.25 million against $0.29 million reported last year. Adjusted EBITDA loss was $1.7 million, as compared to adjusted EBITDA loss of $3.9 million in the first quarter of 2014. For the second quarter of 2015 total revenue is expected to be at least $23.0 million. The company expects adjusted EBITDA to be negative for the second quarter given the seasonality in business, the company do not expect the adjusted EBITDA to be negative by more than $0.7 million, including the impact of the accelerated revenue. Net loss per share is expected to be no more than $0.21, based on an estimated basic and diluted weighted-average common share count of 22.0 million, and includes estimated non-cash stock compensation expense of $1.2 million, or $0.05 per share. For the full year 2015 total revenue is expected to be in the range of $100.0 million to $104.0 million. Adjusted EBITDA is expected to be in the range of $10.5 million to $12.5 million. Net loss per share is expected to be in the range of $0.08 to $0.16, based on an estimated basic and diluted weighted-average common share count of 22.0 million, and includes non-cash stock compensation expense of $4.5 million, or $0.20 per share.

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