Welcome to our dedicated page for Progyny news (Ticker: $PGNY), a resource for investors and traders seeking the latest updates and insights on Progyny stock.
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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.