Progyny, Inc. Stock Price, News & Analysis

Progyny (Nasdaq: PGNY) has expanded its global reach by acquiring Apryl, a Berlin-based fertility benefits platform. This acquisition bolsters Progyny's ability to provide comprehensive, concierge-level fertility and family-building support to multinational employers and employees in over 100 countries. The enhanced services include holistic support across various fertility-related needs, seamless integration with local laws, and secure financial processing. The move aims to ensure equitable and consistently high-quality benefits for employees worldwide.

Progyny (NASDAQ: PGNY) published findings from its 2024 LGBTQ+ family building survey, which included responses from over 1,100 LGBTQ+ individuals in the U.S. The survey revealed that most respondents face significant challenges such as high costs, inadequate access to care, and lack of mental health support. Key data points include 76% being concerned about family building costs, 54% hindered by these costs, 83% willing to change employers for better benefits, and 85% considering a second job for employer-sponsored care. Many are also exploring adoption (48%) and surrogacy (29%). Progyny emphasizes the importance of inclusive and comprehensive family building benefits offered by employers to support LGBTQ+ employees, promoting workplace inclusion and loyalty.

Kindbody, a leading fertility clinic network, announces Founder Gina Bartasi's return as CEO amidst significant company growth. Expected 2024 revenue is projected between $225-250 million, achieving profitability after years of investment. Key promotions include Gina Bruzzichesi to President and Haleigh Tebben to Chief Commercial Officer. Kindbody, serving 121 employers and over 3.1 million lives, operates 35 clinics globally. The company's proprietary tech platform, KindEMR, enhances care standardization and patient experience. Their AI initiatives aim to optimize fertility treatment outcomes.

Progyny, a leading provider of fertility and family building benefits, announced that CEO Pete Anevski will speak at the Jefferies Global Healthcare Conference. The event will take place on June 5, 2024, at 9:00 A.M. Eastern Time. The session will be accessible via a live audiocast, with a replay available on the company's website.

Progyny (Nasdaq: PGNY) announced a new share repurchase program to buy back up to $100 million of its common stock. This follows a previous program announced on February 29, 2024. The repurchase will be funded via existing cash balances and carried out through open market transactions, which may include Rule 10b5-1 plans under the Securities Exchange Act of 1934. The program's execution will depend on various factors such as stock price and market conditions. The company has the discretion to suspend or discontinue the program at any time, with no guaranteed amount of shares to be repurchased or specific prices disclosed.

Progyny (Nasdaq: PGNY), an innovative provider of fertility, family building, and women's health benefits, announced participation in two key healthcare conferences. On May 15, 2024, at 5:00 PM PT / 8:00 PM ET, Progyny executives will join a fireside chat at the BofA Securities 2024 Healthcare Conference. Additionally, they will partake in the Leerink Partners Healthcare Crossroads Conference on May 29, 2024, at 1:00 PM CT / 2:00 PM ET. Live audiocasts and replays will be accessible via the Events and Presentations section on the company’s website.

Progyny, Inc. announced strong Q1 2024 results with revenue of $278.1 million, a 7.6% increase from Q1 2023. Gross profit rose to $62.4 million, and net income was $16.9 million. The company saw an increase in clients and covered lives, leading to growth in fertility benefit and pharmacy benefit services revenue. Adjusted EBITDA was $50.3 million, with an 18.1% margin. Cash flow improved, and the company repurchased shares worth $26.4 million. The outlook for 2024 includes revenue of $1.23-$1.27 billion, net income of $68.4-$75.4 million, and Adjusted EBITDA of $216-$226 million.