Progyny, Inc. Stock Price, News & Analysis

Progyny, a leader in fertility benefits management, reported third quarter 2020 revenue of $98.9 million, up 62% from prior year. Net income hit $5.4 million, reversing an $8.2 million loss year-over-year. The company anticipates 2020 revenue guidance of $340-$345 million, targeting a growth of 48%-50%. For 2021, Progyny projects a minimum of $525 million in revenue with 180 clients covering 2.7 million lives. Adjusted EBITDA nearly doubled to $10.6 million, demonstrating strong operational leverage despite COVID-19.

Progyny, a leader in fertility benefits management, is scheduled to report its financial results for Q3 2020 on Nov. 5, 2020, after market close. A conference call will follow at 4:45 PM ET, accessible via specific dialing numbers for U.S. and international participants. An audio replay will be available until Nov. 12, 2020. Progyny is recognized for its innovative fertility solutions, enhancing access for patients while reducing healthcare costs for employers. With headquarters in New York, the company is gaining attention for its impact on fertility benefits.

Progyny (Nasdaq: PGNY) presented research at the ASRM Scientific Congress on October 17, 2020, focusing on factors influencing patient progression to infertility treatment. Analyzing 8,441 cases from 600 clinics with employer-sponsored coverage, key findings revealed that increased interactions with patient care advocates significantly boost treatment progression rates from 72% to 82%. Patients aged 35-38 were most likely to progress, while those with male infertility diagnoses showed lower progression rates. The study aims to enhance understanding of barriers patients face even when financial hurdles are addressed.

Progyny (Nasdaq: PGNY), a leader in fertility benefits management, announced the participation of its CEO, David Schlanger, in a fireside chat at the BofA Global Healthcare Conference on September 17, 2020, at 11:45 A.M. ET. This event highlights the company's commitment to redefining fertility and family-building benefits. Progyny aims to empower patients through dedicated advocacy, access to specialists, and cost reduction for employers. The event will be audiocasted live and available for replay on Progyny's website.

Progyny (Nasdaq: PGNY) has appointed Mark Livingston as Chief Financial Officer, effective September 15, 2020. He brings over 30 years of experience, having previously served as CFO at Scripps Network Interactive and Emerson, Reid & Company. Livingston's promotion allows President Pete Anevski to focus more on business growth, as Progyny addresses significant market opportunities in fertility benefits management. The company aims to enhance patient outcomes and reduce costs for employers while expanding its leadership position in the market.

Progyny reported Q2 revenue of $64.6 million, marking a 15% increase from $56.2 million in 2019. Patient activity recovered faster than expected, with fertility treatment volumes improving as clinics reopened. For full-year 2020, revenue guidance is set between $323 million and $340 million, indicating growth of 41% to 48%. Q3 revenue is projected at $88 million to $95 million. However, the company noted a net loss of $1.8 million due to operational costs amid pandemic disruptions. Adjusted EBITDA was $3 million, reflecting resilience despite challenges.

Progyny (Nasdaq: PGNY) will announce its financial results for the quarter ending June 30, 2020, on August 5, 2020. The report will be released after market close, followed by a conference call at 4:45 PM ET.

Participants can access the call by dialing specific numbers for U.S. and international attendees. An audio replay will be available until August 11, 2020. Progyny, a leader in fertility benefits management, emphasizes a comprehensive approach that supports employers and patients alike.

Progyny, Inc. (Nasdaq: PGNY), a leader in fertility benefits management, announced participation in the Goldman Sachs 41st Annual Global Healthcare Conference on June 9, 2020. CEO David Schlanger and President Pete Anevski will join a fireside chat at 4:40 P.M. Eastern Time. Progyny aims to redefine fertility benefits, offering solutions that include dedicated Patient Care Advocates and access to a network of specialists. Recognized as a CNBC 50 Disruptor and among the fastest-growing companies, Progyny continues to innovate in family building benefits.

Progyny, Inc. (Nasdaq: PGNY) reported a 72% increase in revenue for Q1 2020, achieving $81.0 million, up from $47.2 million in Q1 2019. This growth was driven by a 47% rise in fertility services revenue. The company also reported $12.1 million in operating cash flow and net income of $4.1 million, a 61% increase year-over-year. Despite disruptions due to COVID-19, management remains optimistic about recovery and expects a minimum of $45 million in revenue for Q2 2020. However, uncertainty still exists regarding the full resumption of services amid ongoing pandemic challenges.