Exhibit 99.1

Benefitfocus, Inc.

Consolidated Statements of Operations and Comprehensive Loss

(in thousands, except share and per share data)

	Three Months Ended December 31,						Year Ended December 31,
	2013			2012			2013			2012
				(Restated)						(Restated)
Revenue	$	30,256		$	22,208		$	104,752		$	81,739
Cost of revenue		19,473			11,881			62,411			44,400
Gross profit		10,783			10,327			42,341			37,339
Operating expenses:
Sales and marketing		8,976			6,357			36,072			27,905
Research and development		6,708			3,520			23,532			14,621
General and administrative		2,790			1,990			10,974			7,494
Change in fair value of contingent consideration		—			(49	)		(43	)		121
Total operating expenses		18,474			11,818			70,535			50,141
Loss from operations		(7,691	)		(1,491	)		(28,194	)		(12,802	)
Other income (expense):
Interest income		15			12			46			53
Interest expense		(552	)		(507	)		(2,149	)		(1,976	)
Other expense		(66	)		(8	)		(95	)		(64	)
Total other expense, net		(603	)		(503	)		(2,198	)		(1,987	)
Loss before income taxes		(8,294	)		(1,994	)		(30,392	)		(14,789	)
Income tax (benefit) expense		(12	)		35			(31	)		84
Net loss	$	(8,282	)	$	(2,029	)	$	(30,361	)	$	(14,873	)
Comprehensive loss	$	(8,282	)	$	(2,029	)	$	(30,361	)	$	(14,873	)
Net loss per common share:
Basic and diluted	$	(0.34	)	$	(0.42	)	$	(2.99	)	$	(3.09	)
Weighted-average common shares outstanding:
Basic and diluted		24,474,566			4,842,205			10,144,243			4,812,632

Benefitfocus, Inc.

Consolidated Balance Sheets

(in thousands, except share and per share data)

	As of December 31,
	2013			2012
				(Restated)
Assets
Current assets:
Cash and cash equivalents	$	65,645		$	19,703
Marketable securities		13,168			—
Accounts receivable, net		23,668			13,372
Prepaid expenses and other current assets		4,322			1,482
Total current assets		106,803			34,557
Property and equipment, net		27,444			20,456
Intangible assets, net		1,256			1,579
Goodwill		1,634			1,634
Other non-current assets		2,474			—
Total assets	$	139,611		$	58,226
Liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)
Current liabilities:
Accounts payable	$	4,354		$	1,726
Accrued expenses		3,911			2,453
Accrued compensation and benefits		14,183			9,661
Deferred revenue, current portion		15,158			11,165
Financing and capital lease obligations, current portion		4,288			1,228
Notes payable, current portion		—			2,420
Contingent consideration related to acquisition, current portion		—			328
Total current liabilities		41,894			28,981
Deferred revenue, net of current portion		65,063			46,355
Revolving line of credit		5,757			—
Financing and capital lease obligations, net of current portion		14,263			9,589
Notes payable, net of current portion		—			3,561
Other non-current liabilities		1,202			871
Total liabilities		128,179			89,357
Commitments and contingencies
Redeemable convertible preferred stock:
Convertible Series A preferred stock, no par value, no shares authorized, issued and outstanding at December 31, 2013; 14,055,851 shares authorized, issued and outstanding at December 31, 2012		—			105,505
Convertible Series B preferred stock, no par value, no shares authorized, issued and outstanding at December 31, 2013; 2,441,009 shares authorized, issued and outstanding at December 31, 2012		—			29,973
Total redeemable convertible preferred stock		—			135,478
Stockholders’ equity (deficit):
Preferred stock, par value $0.001, 5,000,000 shares authorized, no shares issued and outstanding at December 31, 2013 and 2012		—			—
Common stock, no par value, no shares authorized issued and outstanding at December 31, 2013; 100,000,000 shares authorized, 20,125,063 shares issued and 4,792,347 shares outstanding at December 31, 2012		—			6,109
Common stock, par value $0.001, 50,000,000 shares authorized, 24,495,651 shares issued and outstanding at December 31, 2013; no shares authorized, issued and outstanding at December 31, 2012		24			—
Additional paid-in capital		214,487			—
Accumulated deficit		(203,079	)		(172,718	)
Total stockholders’ equity (deficit)		11,432			(166,609	)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)	$	139,611		$	58,226

Benefitfocus.com, Inc.

Consolidated Statements of Cash Flows

(in thousands)

	Three Months Ended December 31,						Year Ended December 31,
	2013			2012			2013			2012
				(Restated)						(Restated)
Cash flows from operating activities
Net loss	$	(8,282	)	$	(2,029	)	$	(30,361	)	$	(14,873	)
Adjustments to reconcile net loss to net cash and cash equivalents provided by operating activities:
Depreciation and amortization		2,246			1,794			8,172			8,560
Stock-based compensation expense		381			248			1,202			712
Change in fair value and accretion of warrant		223			168			892			488
Interest accrual on financing obligation		443			444			1,768			1,774
Change in fair value of contingent consideration		1			(37	)		(17	)		188
Provision for doubtful accounts		(87	)		18			(32	)		98
Loss on disposal of property and equipment		45			8			65			17
Changes in operating assets and liabilities:
Accounts receivable, net		(2,404	)		(1,974	)		(10,264	)		(4,411	)
Prepaid expenses and other current assets		(428	)		411			(1,440	)		639
Accounts payable		(1,246	)		457			2,625			862
Accrued expenses		138			76			904			532
Accrued compensation and benefits		(1,555	)		(557	)		4,521			3,102
Contingent consideration related to acquisition		—			—			—			(320	)
Deferred revenue		7,863			5,582			22,701			14,747
Other non-current liabilities		97			73			331			293
Net cash and cash equivalents (used in) provided by operating activities		(2,565	)		4,682			1,067			12,408
Cash flows from investing activities
Purchases of short-term investments held to maturity		(13,168	)		—			(13,168	)		—
Purchases of property and equipment		(2,223	)		(1,154	)		(8,918	)		(6,308	)
Proceeds from sale of property and equipment		—			—			9			—
Net cash and cash equivalents used in investing activities		(15,391	)		(1,154	)		(22,077	)		(6,308	)
Cash flows from financing activities
Proceeds from initial public offering, net of issuance costs		—			—			70,064			—
Draws on revolving line of credit		—			—			10,757			—
Payments on revolving line of credit		—			—			(5,000	)		—
Proceeds from notes payable borrowing		—			4,535			1,465			4,535
Repayment of notes payable		—			(239	)		(7,447	)		(1,074	)
Proceeds from exercises of stock options		127			24			699			108
Proceeds from issuance of common stock (excluding IPO)		—			—			68			—
Repurchases of common stock		—			(6	)		—			(599	)
Payments of contingent consideration		(311	)		(378	)		(311	)		(2,078	)
Payments on financing and capital lease obligations		(887	)		(745	)		(3,343	)		(3,145	)
Net cash and cash equivalents provided by (used in) financing activities		(1,071	)		3,191			66,952			(2,253	)
Net increase (decrease) in cash and cash equivalents		(19,027	)		6,719			45,942			3,847
Cash and cash equivalents, beginning of period		84,672			12,984			19,703			15,856
Cash and cash equivalents, end of year	$	65,645		$	19,703		$	65,645		$	19,703

Benefitfocus, Inc.

Reconciliation of GAAP to Non-GAAP Measures

For the Three Months and Years Ended December 31, 2013 and 2012

(unaudited, dollars in thousands except share and per share data)

	Three Months December 31,						Year Ended December 31,
	2013			2012			2013			2012
				(Restated)						(Restated)
Reconciliation from Gross Profit to Adjusted Gross Profit:
Gross profit	$	10,783		$	10,327		$	42,341		$	37,339
Depreciation		1,186			1,053			4,257			4,224
Amortization of software development costs		714			485			2,618			3,149
Amortization of acquired intangible assets		58			64			245			254
Stock-based compensation expense		86			69			274			195
Adjusted gross profit	$	12,827		$	11,998		$	49,735		$	45,161
Reconciliation from Operating Loss to Non-GAAP Operating Loss:
Operating loss	$	(7,691	)	$	(1,491	)	$	(28,194	)	$	(12,802	)
Amortization of acquired intangible assets		76			84			323			335
Stock-based compensation expense		381			248			1,202			712
Total net adjustments	$	457		$	332		$	1,525		$	1,047
Non-GAAP operating loss	$	(7,234	)	$	(1,159	)	$	(26,669	)	$	(11,755	)
Reconciliation from Net Loss to Adjusted EBITDA:
Net loss	$	(8,282	)	$	(2,029	)	$	(30,361	)	$	(14,873	)
Depreciation		1,456			1,225			5,231			5,076
Amortization of software development costs		714			485			2,618			3,149
Amortization of acquired intangible assets		76			84			323			335
Interest income		(15	)		(12	)		(46	)		(53	)
Interest expense		552			507			2,149			1,976
Income tax (benefit) expense		(12	)		35			(31	)		84
Stock-based compensation expense		381			248			1,202			712
Total net adjustments	$	3,152		$	2,572		$	11,446		$	11,279
Adjusted EBITDA	$	(5,130	)	$	543		$	(18,915	)	$	(3,594	)
Reconciliation from Net Loss to Non-GAAP Net Loss:
Net loss	$	(8,282	)	$	(2,029	)	$	(30,361	)	$	(14,873	)
Amortization of acquired intangible assets		76			84			323			335
Stock-based compensation expense		381			248			1,202			712
Total net adjustments		457			332			1,525			1,047
Non-GAAP net loss		(7,825	)		(1,697	)		(28,836	)		(13,826	)
Calculation of Non-GAAP Earnings Per Share:
Non-GAAP net loss	$	(7,825	)	$	(1,697	)	$	(28,836	)	$	(13,826	)
Weighted average shares outstanding - basic and diluted		24,474,566			4,842,205			10,144,243			4,812,632
Additional weighted average shares giving effect to conversion of convertible preferred stock at the beginning of the period		—			16,496,860			12,022,369			16,496,860
Shares used in computing non-GAAP net loss per share - basic and diluted		24,474,566			21,339,065			22,166,612			21,309,492
Non-GAAP net loss per common share - basic and diluted	$	(0.32	)	$	(0.08	)	$	(1.30	)	$	(0.65	)