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. (PGNY) reported record quarterly revenue of $195.0 million, reflecting a 52% growth from the prior year. Strong demand for fertility benefits led to a 37% increase in fertility services revenue, totaling $126.8 million, and an 87% surge in pharmacy services revenue, reaching $68.2 million. Despite a 53% decrease in net income, attributed to increased stock-based compensation, Adjusted EBITDA saw a 78% increase, reaching $32.9 million. The company raised its full-year guidance, projecting annual revenue between $750.0 million and $775.0 million.
Progyny's Clinical Outcomes Exceed National Benchmarks
Progyny (Nasdaq: PGNY), a leader in fertility benefits management, has achieved superior clinical outcomes validated by Milliman, Inc. Its independent evaluation confirms Progyny’s methodology for measuring and publishing fertility treatment successes against national benchmarks. Since 2016, Progyny has consistently delivered faster pregnancies, fewer miscarriages, and healthier outcomes compared to national averages. The company emphasizes transparency and aims to raise standards in fertility benefits as it continues to expand its network of high-quality providers.
Progyny (PGNY) will release its financial results for Q2 2022 on August 4, 2022, after market close. An investor conference call is scheduled for 4:45 PM ET. Participants in the U.S. can join by dialing 1-866-825-7331, with international access via 1-973-413-6106, using passcode 265484. A replay will be available until August 11, 2022. Progyny, recognized for its comprehensive fertility benefits, aims to provide optimal clinical outcomes and reduce healthcare costs.
Progyny, a leader in fertility and family building benefits, will have its CEO Pete Anevski and CFO Mark Livingston engage in a fireside chat at the Jefferies 2022 Healthcare Conference on June 8, 2022, at 10:30 A.M. Eastern Time. This event will be accessible via a live audiocast on Progyny’s website. The company’s innovative solutions are designed to empower patients and reduce healthcare costs for employers while achieving optimal clinical outcomes. Progyny is headquartered in New York City and has received numerous recognitions for its growth and leadership in the healthcare sector.
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Progyny (Nasdaq: PGNY) has launched the AHA Grant™ in partnership with The Broken Brown Egg, aiming to provide education, financial assistance, and emotional support to individuals and couples of color facing infertility. Announced on May 6, 2022, the grant will support one recipient with financial aid for treatment, medication through partners like Alto Pharmacy and Ferring Pharmaceuticals, and guidance from a dedicated fertility coach. Applications are open until June 10, 2022, with the winner revealed in mid-July.
Progyny, Inc. (PGNY) reported record revenue of $172.2 million for Q1 2022, marking a 41% growth year-over-year. The company raised its full-year revenue guidance to $735 million to $775 million, anticipating 47% to 55% growth. Despite a 67% decline in net income to $5 million, adjusted EBITDA rose 44% to $24.8 million. Progyny experienced operational efficiencies, with a total of 264 clients and a significant increase in pharmacy benefit services revenue, reflecting a strong demand for fertility benefits.
Progyny (Nasdaq: PGNY), a leader in fertility benefits management, announced its executives will participate in a fireside chat at the BofA Securities 2022 Healthcare Conference on May 11, 2022, at 11:40 A.M. ET. The event will provide insights into their comprehensive fertility solutions aimed at improving patient care and reducing costs for employers. A live audiocast and replay will be available on Progyny's website. The company is noted for its innovative approach and recognition from various organizations, indicating its growth and leadership in the industry.
Progyny, Inc. (Nasdaq: PGNY) will release its financial results for Q1 2022 on May 5, 2022, after market close. A conference call will follow at 4:45 PM Eastern Time. Interested parties can join via phone or through a live webcast available on the company’s investor relations page. Progyny specializes in fertility benefits management, offering comprehensive solutions that enhance patient care while reducing employer healthcare costs. The company has gained recognition for its innovative approach and commitment to improving fertility solutions across the U.S.
Progyny, Inc. (PGNY) and RESOLVE: The National Infertility Association are set to highlight National Infertility Awareness Week 2022 by ringing the Nasdaq Opening Bell on April 26, 2022, and lighting the Empire State Building in orange on April 27, 2022. This initiative aims to raise awareness about infertility, affecting 1 in 8 couples in the U.S. CEO Pete Anevski emphasized Progyny's mission to support over 100,000 individuals in their family building journeys. The event seeks to eliminate stigmas associated with infertility and calls on employers and legislators to address the crisis.