Brookfield-based Connecture Inc., which provides web-based information systems used to create health insurance marketplaces, has reported its fourth quarter and full-year 2014 results.
Fourth quarter net income was $4.9 million, or 30 cents per share, up from $690,000, or $1.25 lost per share, in the fourth quarter of 2013.
Quarterly operating income was $6 million, up from $1.8 million in the same period a year ago.
Revenue in the fourth quarter totaled $27.8 million, up from $25 million in the fourth quarter of 2013.
Connecture completed an initial public offering in the fourth quarter of 2014, which resulted in a $34.8 million gain.
For the full year, Connecture reported a $10.2 million net loss, or $10.27 lost per share, narrowed from a $26.4 million net loss, or $163.37 lost per share, in 2013.
Its 2014 operating loss was $4.3 million, compared with an operating loss of $22.6 million last year.
And full-year revenue totaled $84.6 million, up from $58.3 million in 2013.
“2014 was a very successful year for Connecture, in terms of revenue growth, expanding margins, new customer additions, and organization building,” said Doug Schneider, chief executive officer. “We are also pleased with our fourth quarter performance, including our significant new customer wins. Our growth demonstrates that customers recognize the value of our solutions. Our technology solutions support the increasing impact of consumer choice and accountability around health insurance as the marketplace becomes more focused on the individual. Our data-driven, personalized tools help consumers optimize their health insurance choices. In addition, we are pleased to report that we achieved a significant milestone by generating positive adjusted EBITDA for the full year.”
