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Progyny, Inc. (Nasdaq: PGNY) is a leading fertility and family building benefits company that integrates service, science, technology, and data to provide comprehensive fertility solutions for self-insured employers. The company's unique approach offers members tailored, value-based treatment plans, leveraging the latest medical advancements to improve outcomes, shorten the time to pregnancy, and reduce fertility-related costs.
Progyny's benefit plans encompass a wide range of fertility solutions, including IVF (In Vitro Fertilization), IUI (Intrauterine Insemination), embryo banking, egg freezing, adoption, and surrogacy. These plans are supported by Progyny's network of high-quality fertility specialists, known for their expertise in performing Smart Cycle treatments.
Headquartered in New York City, Progyny has established itself as a transformative leader in the fertility benefits space, partnering with employers across various industries. The company's clients benefit from a premier network of fertility and women's health specialists, advanced clinical outcomes, and reduced healthcare costs.
Progyny has been recognized for its leadership and growth, earning accolades from CNBC Disruptor 50, Modern Healthcare’s Best Places to Work in Healthcare, Forbes’ Best Employers, Financial Times, Inc. 5000, Inc. Power Partners, and Crain’s Fast 50 for NYC.
In the third quarter of 2023, Progyny reported having 392 clients, a significant increase from 282 clients in the same period in 2022. The company's financial performance includes positive Adjusted EBITDA, demonstrating robust profitability and financial health. Progyny continues to expand its services and partnerships, ensuring comprehensive support for patients and employers alike.
For more information, visit www.progyny.com. Investors can reach out to James Hart at investors@progyny.com, and media inquiries can be directed to Selena Yang at media@progyny.com.
Progyny (NASDAQ: PGNY) has announced the acquisition of BenefitBump, a parental leave benefits navigation program, expanding its fertility and family building services portfolio. The acquisition aims to address the needs of 90% of parents seeking greater support in managing work-home responsibilities.
The enhanced service suite will include a clinical social worker-led parental wellness program, comprehensive parental leave and benefits navigation, care and resource navigation for child behavior concerns and neurodiverse care, and clinician-facilitated peer support groups. This integration extends Progyny's existing services across preconception, fertility, pregnancy, postpartum, and menopause care.
The acquisition is designed to reduce member stress, improve recruitment, return-to-work and retention rates, and foster proactive child and family health by eliminating fragmentation in family support services.
Progyny (Nasdaq: PGNY) has appointed Debra Morris, a 30-year healthcare industry veteran, to its board of directors effective January 16, 2025. Morris, who currently serves as President of AccessHope, brings extensive experience in healthcare operations and financial management. She previously held the position of EVP and CFO at Apria Healthcare.
Morris will serve on the Compensation Committee and brings personal experience with infertility along with professional expertise in scaling organizations, healthcare systems, payment models, and operational efficiency. CEO Pete Anevski highlighted Morris's ability to navigate periods of rapid growth as particularly valuable for Progyny's continued expansion of family building and women's healthcare solutions.
Progyny (Nasdaq: PGNY), a leader in fertility, family building, and women's health benefits, announced its participation in the 43rd Annual JP Morgan Healthcare Conference. The company plans to discuss updated financial expectations for the fourth quarter and full year ending December 31, 2024. In the November earnings call, Progyny had anticipated flat to declining member activity for Q4 compared to Q3 2024, due to earlier variability.
However, CEO Pete Anevski reported improved member activity and treatment volume, leading Progyny to expect Q4 results for revenue, net income, and Adjusted EBITDA to be slightly above previous guidance ranges. Anevski will present at the conference on January 14, 2025, at 7:30 a.m. PT / 10:30 a.m. ET, followed by a breakout session with key executives. A live audiocast and replay will be available on Progyny's investor relations website.
Cigna Healthcare announced a new collaboration with Progyny, Inc (Nasdaq: PGNY) to offer expanded fertility and family-building services for more employers. This comprehensive benefit aims to provide coverage from pre-conception to postpartum care, including surrogacy and adoption. The initiative addresses the affordability challenges employers face and acknowledges the growing demand for such services, with 1 in 6 people affected by infertility globally.
The offering is designed to help employers attract and retain top talent, with 61% of millennials valuing these benefits for company loyalty and 70% willing to change jobs for better family-planning benefits. Progyny's Smart Cycle® design allows employers to simplify coverage based on fertility cycles rather than financial thresholds, offering services such as:
- Access to over 650 premier fertility clinics in the U.S.
- 1:1 personalized support from Patient Care Advocates.
- Pre-conception coaching and clinical programming.
- Prescription fertility medication coverage.
- Customized cycle-based coverage for reproductive technologies.
- Egg and sperm freezing and storage.
- Doula services for labor and delivery.
- Holistic well-being and mental health support.
- Guided support and reimbursement for surrogacy and adoption services.
This new benefit will be available to most of Cigna Healthcare's self-funded employer clients in early fall 2025.
Progyny (Nasdaq: PGNY), a provider of fertility, family building, and women's health benefits solutions, has announced its participation in the Jefferies London Healthcare Conference. CEO Pete Anevski and CFO Mark Livingston will engage in a fireside chat on Tuesday, November 19, 2024, at 8:00 a.m. GMT (3:00 a.m. EST).
Interested parties can access both the live audiocast and replay through the Events and Presentations section on Progyny's investor website at http://investors.progyny.com.
Progyny reported Q3 2024 revenue of $286.6 million, up 2.0% year-over-year, with net income of $10.4 million. The company secured over 80 new clients and 1.1 million new covered lives during the sales season. However, lower-than-expected revenue and profitability occurred as members took longer to progress through treatments. Gross margin decreased to 20.7% from 22.3% in Q3 2023. The company was selected by two health plans as their preferred partner and saw 1.5 million lives adopt their newest maternity and menopause programs for 2025. For full-year 2024, revenue guidance was revised to $1.135-1.150 billion.
Progyny (Nasdaq: PGNY) has scheduled its Q3 2024 financial results announcement for Tuesday, November 12, 2024, after market close. The company will host a conference call at 4:45 P.M. ET, accessible to U.S. participants at 1.866.825.7331 and international participants at 1.973.413.6106 (passcode: 265484). An audio replay will be available through November 19, 2024. Progyny is a fertility, family building, and women's health benefits provider that offers comprehensive solutions including concierge support, coaching, and access to premier healthcare specialists.
Progyny announced its Q2 2024 financial results, showing an 8.8% increase in revenue to $304.1 million and a 13% rise in gross profit to $68.3 million. Net income increased to $16.5 million, or $0.17 per diluted share, while Adjusted EBITDA rose 15% to $54.5 million. The company noted strong demand for fertility treatments and women's health solutions. However, it observed a lower revenue per utilizing member, affecting expectations for the second half of the year.
Progyny's board authorized a $100 million stock repurchase, adding to the 6.8 million shares already repurchased. The company also provided guidance for the full year 2024, projecting revenue of $1.165-$1.20 billion, net income of $55.4-$62.4 million, and Adjusted EBITDA of $199-$209 million.
Progyny (Nasdaq: PGNY) and The Broken Brown Egg have launched the 2024 Awareness, Hope, and Activism (AHA) Grant™ to support BIPOC individuals and couples in family building. Now in its third year, the grant aims to address barriers faced by Black individuals in accessing fertility care, including financial constraints, healthcare disparities, and social stigmas.
The grant provides education, specialized treatment, financial assistance, and emotional support. Recipients will receive medication support through Alto Pharmacy and unlimited access to a dedicated Progyny Patient Care Advocate. The application is open from July 24 to August 10, 2024, for U.S. citizens and legal residents aged 45 or younger. Winners will be announced in September, chosen by a panel of BIPOC infertility advocates and physicians.
Progyny, Inc. (Nasdaq: PGNY), a leading fertility, family building, and women's health benefits solution provider, has announced its plans to report Q2 2024 financial results on August 6, 2024, after market close. The company will host a conference call at 4:45 P.M. ET (1:45 P.M. PT) to discuss the results.
Interested participants can join the call using specific dial-in numbers and passcode. A live webcast and archive of the call will be available on the company's investor relations website. Progyny is recognized for its innovative approach to fertility and women's health benefits, focusing on comprehensive solutions that benefit employers, patients, and physicians while optimizing clinical outcomes and reducing healthcare costs.
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