Connecture narrows loss on new customer growth

Brookfield-based Connecture Inc. reported a second quarter net loss of $4.3 million, or 20 cents lost per share, compared with $5.4 million, or $34.77 lost per share, in the second quarter of 2014.

The company, which provides web-based information systems used to create health insurance marketplaces, reported an operating loss of $2.8 million, compared with $3.3 million in the same period a year ago.

Revenue totaled $23.4 million, up from $19.2 million in the second quarter of 2014.

The company attributed the narrowed loss to adding new customers and expanding business with existing customers.

“We are pleased to report another solid quarter, with results that exceeded our financial guidance,” said Doug Schneider, chief executive officer of Connecture. “Strong growth during the quarter was driven by new customer wins and further cross-selling within our health plan customer base. In addition, we have had a strong selling season thus far, including notable wins in our Private Exchange and Medicare segments, which bodes well for growth beyond 2015.

“During the quarter, we started to reduce our involvement in one of our state exchange projects that we view longer term as not strategic to our business. This will give us the opportunity to focus our resources on other promising market opportunities, including private exchanges.”

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Molly Dill
Molly Dill, former BizTimes Milwaukee managing editor.