Progyny Inc

PGNY

Equity

ISIN US74340E1038 / Valor 50342281

NASDAQ (2024-09-18)

USD 24.44-1.53%

Progyny Inc
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About company

Progyny Inc. is a company that provides fertility and family building benefits solutions to employers, offering services that include access to a network of fertility specialists, treatment financing, and personalized support.

Summarized from source with an LLMView SourceSector: Healthcare

Revenue Growth

Progyny Inc. reported revenue of $304.1 million for the second quarter of 2024, marking an 8.8% increase compared to the $279.4 million reported in the second quarter of 2023. This growth was primarily driven by an increase in the number of clients and covered lives.

Gross Profit and Margin

Gross profit for Progyny Inc. in the second quarter of 2024 was $68.3 million, a 13% increase from the $60.6 million reported in the same period of 2023. The gross margin also improved to 22.5%, up from 21.7% in the prior year period.

Net Income

Progyny Inc. achieved a net income of $16.5 million, or $0.17 per diluted share, in the second quarter of 2024. This represents an increase from the $15.0 million, or $0.15 per diluted share, reported in the second quarter of 2023, reflecting higher overall profitability.

Adjusted EBITDA

Adjusted EBITDA for Progyny Inc. in the second quarter of 2024 was $54.5 million, a 15% increase compared to the $47.5 million reported in the same quarter of 2023. The Adjusted EBITDA margin also saw an improvement, rising to 17.9% from 17.0% in the prior year period.

Financial Outlook

For the full year ending December 31, 2024, Progyny Inc. projects revenue to be between $1.165 billion and $1.20 billion, reflecting growth of 7% to 10%. Net income is expected to range from $55.4 million to $62.4 million, or $0.57 to $0.64 per diluted share. Adjusted EBITDA is projected to be between $199.0 million and $209.0 million.

Summarized from source with an LLMView Source

Key figures

-29.9%1Y

-60.3%3Y

%5Y

Performance

46.7%1Y

54.8%3Y

62.4%5Y

Volatility