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), 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.
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