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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, 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.
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