Progyny, Inc. reports developments in women's health and family building benefits, including fertility care access, employer demand, product expansion, and financial results. The company provides benefit solutions for employers, health plans, and benefit purchasers, combining concierge support, coaching, education, digital tools, and access to a network of fertility and women's health specialists.
Recurring updates include quarterly earnings, financial guidance, selling-season activity, share repurchases, investor conference appearances, and offerings such as Progyny Select, a fully insured supplemental fertility and family building plan for small U.S. employers.
Progyny, Inc. (Nasdaq: PGNY) announced a partnership with the Detroit Pistons to provide comprehensive family-building benefits for employees. This collaboration aims to enhance the benefits scheme, addressing the needs of a diverse workforce. Eligible employees now have access to various fertility services, including IVF and genetic counseling, ensuring better patient outcomes. The partnership also features concierge support from dedicated fertility coaches and a network of over 950 specialists. This initiative is significant as the Pistons become the first NBA team to recognize the importance of such benefits, demonstrating commitment to employee welfare and healthcare improvement.
Progyny, Inc. (PGNY) reported a full-year revenue of $786.9 million, reflecting 57% growth compared to 2021. The fourth quarter revenue totaled $214.3 million, a 68% increase year-over-year, with gross margin expanding by 110 basis points. Net income for the year was $30.4 million, down from $65.8 million in 2021, primarily due to higher tax expenses and stock compensation costs. Looking ahead, the company anticipates 2023 revenue to reach between $1 billion and $1.03 billion, driven by a growing client base, now at 288 clients, and over 5.4 million covered lives.
Progyny, Inc. (PGNY), a leading fertility benefits management company, will announce its financial results for the fourth quarter and full year ended December 31, 2022, after market close on February 27, 2023. A conference call will be held at 4:45 PM ET for investors to discuss these results, with a press release issued prior to the call. Interested parties can join via the provided dial-in numbers. An audio replay will be available until March 6, 2023. Progyny aims to redefine fertility solutions, showcasing the value of comprehensive benefits for employers, patients, and healthcare professionals.
Progyny (Nasdaq: PGNY) announced strong financial results for Q4 2022, expecting revenues and net income to be at the high end of previous guidance. The company anticipates operating cash flow of approximately $50 million for Q4 and $79 million for the full year. CEO Pete Anevski highlighted healthy client utilization and a robust client base of over 370 covering 5.4 million lives. Progyny will present at the JP Morgan Healthcare Conference on January 10, 2023. The company remains optimistic about client expansion and continued demand for fertility benefits in 2023.
Progyny (Nasdaq: PGNY) announced a resumption of Menopur deliveries, significantly impacting its financial guidance for Q4 and the full year 2022. The company projects revenue between $781.5 million to $786.5 million, indicating a 56%-57% growth, and net income of $28.5 million to $29.5 million. Q4 revenue is expected to be $208.9 million to $213.9 million, with a 64%-68% growth rate. Progyny serves over 370 clients covering 5.4 million members, anticipating historical dispensing patterns to return by end of 2022.
Progyny, Inc. (Nasdaq: PGNY), a leader in fertility benefits management, announced its participation in the Credit Suisse 31st Annual Healthcare Conference. CEO Pete Anevski and CFO Mark Livingston will engage in a fireside chat on November 8, 2022, at 4:25 PM PT (7:25 PM ET). A live audiocast will be available on Progyny's website. The company is committed to enhancing family building benefits, providing patients with education and access to leading fertility specialists, ultimately reducing healthcare costs and improving clinical outcomes.
Progyny, Inc. (Nasdaq: PGNY) reported record quarterly revenue of $205.4 million, a 68% increase year-over-year, for the third quarter of 2022. The company secured a record 105 new client commitments, adding approximately 1.2 million covered lives. Adjusted EBITDA more than doubled to $35.0 million, reflecting strong demand for fertility solutions. However, net income decreased 21% to $13.2 million due to increased non-cash stock-based compensation. Full-year revenue guidance was raised to between $775 million and $785 million, indicating continued growth.
Progyny, Inc. (Nasdaq: PGNY) will report its financial results for Q3 2022 on November 3, 2022, after market close. A conference call will follow at 4:45 P.M. ET, accessible via dialing 1-866-825-7331 (U.S.) or 1-973-413-6106 (international) with passcode 265484. An audio replay will be available until November 10, 2022. Progyny specializes in fertility benefits management, aiming to improve patient outcomes and reduce employer costs. The company has received multiple accolades, including recognition from CNBC Disruptor 50 and Modern Healthcare.
Progyny (Nasdaq: PGNY), a leader in fertility benefits management, announced that CEO Pete Anevski and CFO Mark Livingston will join a fireside chat at the BofA Securities 2022 Global Healthcare Conference on September 15, 2022, at 5:50 A.M. Eastern Time. This event aims to discuss Progyny's comprehensive fertility solutions which benefit employers, patients, and healthcare providers. Interested parties can access a live audiocast and replay on Progyny's website. The company has received multiple awards for its innovative approach to fertility benefits.
Progyny (Nasdaq: PGNY) announced the appointment of Lloyd Dean to its Board of Directors, effective August 30, 2022. Dean, the Chief Executive Emeritus of CommonSpirit Health, brings over 40 years of healthcare experience. Progyny's CEO, Pete Anevski, expressed confidence that Dean's expertise will enhance the company’s growth and leadership in fertility and family building benefits. Following this appointment, the Board now consists of ten members. Dean will serve on the Nominating and Corporate Governance Committee, focusing on expanding access to fertility solutions.