Connecture, Inc., together with its subsidiaries, operates as a Web-based consumer shopping, enrollment, and retention platform for health insurance distribution in the United States. It serves health insurance marketplace operators, including 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
Brookfield, WI 53045
Founded in 1999
Connecture, Inc. Hires Vincent Estrada as Chief Financial Officer
Jan 3 17
Connecture, Inc. announced that Vincent Estrada has joined the company as Chief Financial Officer (CFO). Estrada joins Connecture from HealthMEDX, LLC, where he served as CFO and Executive Vice President of Business Development. Over the past 25 years, Estrada has helped transform healthcare companies by enhancing performance and creating shareholder value. His experiences at these organizations will serve to accelerate the transition of the business and complement the bench strength now at Connecture. In this new role, Estrada will serve as the company’s principal financial and accounting officer, and lead Connecture’s finance, accounting and investor relations functions. Estrada brings deep domain experience with years of strategic finance and operational know-how necessary to deliver shareholder value.
Connecture, Inc. Announces Departure of James P. Purko as Chief Financial Officer and Secretary, Effective December 31, 2016
Dec 15 16
On December 15, 2016, Connecture, Inc. announced that James P. Purko, the company's Chief Financial Officer and Secretary, will be leaving the Company effective December 31, 2016, to pursue other business opportunities.
Connecture, Inc. Announces Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended September 30, 2016; Revises Earnings Guidance for the Full Year of 2016
Nov 7 16
Connecture, Inc. announced unaudited consolidated earnings results for third quarter and nine months ended September 30, 2016. For the quarter, the company reported revenue of $24,729,000, loss from operations of $2,511,000, loss before income taxes of $3,151,000, adjusted LBITDA of $634,000, net loss of $3,066,000 or $0.18 per basic and diluted share, compared to the revenue of $22,667,000, loss from operations of $894,000, loss before income taxes of $2,331,000, adjusted EBITDA of $1,785,000, net loss of $2,308,000 or $0.11 per basic and diluted share, a year ago. The increase in revenue was primarily driven by higher revenue in the company’s Enterprise/Commercial segment from the satisfaction of certain customer obligations during the third quarter of 2016. Excluding revenue from the company’s Enterprise/State segment, which declined by $2.4 million in the third quarter of 2016 compared to the third quarter of 2015, revenue in the third quarter of 2016 increased by approximately 23%, compared to the third quarter of 2015. Cash used in operations for the three months ended September 30, 2016, was $1.7 million, compared to $1.6 million for the same period last year.
For the year to date, the company reported revenue of $61,015,000, loss from operations of $15,572,000, loss before income taxes of $20,362,000, net cash used in operating activities of $17,165,000, adjusted LBITDA of $10,007,000, net loss of $20,302,000 or $0.99 per basic and diluted share, compared to the revenue of $66,708,000, loss from operations of $7,425,000, loss before income taxes of $11,708,000, net cash used in operating activities of $14,809,000, adjusted LBITDA of $310,000, net loss of $11,666,000 or $0.54 per basic and diluted share, for the same period a year ago. Purchases of property and equipment were $670,000 compared to $1,177,000 a year ago.
The company revised earnings guidance for the full year of 2016. The company is reiterating its full year 2016 guidance for total revenue and revising guidance on adjusted EBITDA as indicated as total revenue is expected to be in the range of $85.0 million to $88.0 million. Adjusted EBITDA is expected to be in the range of zero to $2.0 million, down from the previously expected range of zero to $2.0 million, due primarily to the impact of certain one-time severance costs and the impact of higher than expected outside contractor costs in support of implemented customers.