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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 (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.
Progyny, a leader in fertility benefits management, announced that CEO David Schlanger and President Pete Anevski will participate in a fireside chat at the BofA Securities 2020 Health Care Conference on May 14, 2020, at 3:00 PM ET. The event will be accessible via live audiocast and replay on Progyny's investor website. Progyny aims to redefine family building benefits, providing education and access to fertility specialists, while reducing healthcare costs. The company has earned multiple accolades, including recognition from CNBC and Financial Times.