Connecture reports 45 percent increase in revenue

Freeman Staff

March 10, 2015

BROOKFIELD — On Tuesday, Connecture, Inc. reported that its full year 2014 revenue increased 45 percent to $84.6 million compared to $58.3 million in 2013. In addition, fourth quarter 2014 revenue increased 11 percent to $27.8 million compared to the previous year.

The Brookfield-based company is a provider of web-based information systems used to create health insurance marketplaces.

“2014 was a very successful year for Connecture, in terms of revenue growth, expanding margins, new customer additions, and organization building. We are also pleased with our fourth quarter performance, including our significant new customer wins,” said Doug Schneider, chief executive officer of Connecture, in a statement. “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.”

Adjusted gross margin was $36.2 million for 2014, or 42.8 percent of total revenue, more than doubling in both amount and as a percentage of total revenue, compared to $12 million, or 20.5 percent of total revenue, in 2013, according to the announcement. The operating loss in 2014 was $4.3 million, compared to an operating loss of $22.6 million in 2013.