Benefitfocus Inc.has issued guidance for the second quarter and revised its outlook for full year 2016.
For the second quarter, Benefitfocus expects total revenue tobe in the range of $56.5 million to $57.0 million. Non-GAAP net loss is expectedto be between $10.8 million and $11.3 million, or 37 cents per share and 39 centsper share, based on 29.3 million basic and diluted weighted average common sharesoutstanding.
Adjusted EBITDA for the second quarter is expected to be a lossof $5.5 million to $6.0 million.
The S&P Capital IQ consensus normalized estimate for thesecond quarter is a per-share loss of 39 cents.
For full year 2016, the company expects total revenue of $232.0million to $235.5 million. Non-GAAP net loss is expected to be in the range of $30.0million to $33.5 million, or $1.02 per share to $1.14 per share, based on 29.4 millionbasic and diluted weighted average common shares outstanding.
The company expects adjusted EBITDA to be a loss of $8.5 millionto $12.0 million.
The S&P Capital IQ consensus normalized estimate for 2016is a per-share loss of $1.18.
The company reported a first-quarter GAAP net loss of $13.4 million,or a loss of 46 cents per share, compared with a loss of $14.6 million, or 55 centsper share, in the year-ago period. Non-GAAP net loss for the period was $8.6 million,or a loss of 29 cents per share, compared with a non-GAAP net loss of $12.7 million,or 48 cents per share, in the previous-year quarter.
The S&P Capital IQ consensus normalized estimate for thefirst quarter was a per-share loss of 41 cents.