Progyny, Inc. - PGNY STOCK NEWS

Progyny, Inc. (Nasdaq: PGNY) announced a significant expansion of its provider network to include reproductive urologists (RUs), addressing a critical aspect of male-factor infertility. This move enhances access to quality urological care, complementing Progyny's existing network of over 650 clinics and 950 fertility specialists. Male-factor infertility represents approximately one-third of infertility cases, highlighting the importance of this expansion. The company collaborated with its reproductive endocrinology partners to ensure RUs meet high standards. CEO Pete Anevski emphasized the need for comprehensive infertility solutions, underlining the commitment to supporting all individuals seeking parenthood.

Progyny, Inc. (Nasdaq: PGNY) announced a partnership with the Detroit Pistons to provide comprehensive family-building benefits for employees. This collaboration aims to enhance the benefits scheme, addressing the needs of a diverse workforce. Eligible employees now have access to various fertility services, including IVF and genetic counseling, ensuring better patient outcomes. The partnership also features concierge support from dedicated fertility coaches and a network of over 950 specialists. This initiative is significant as the Pistons become the first NBA team to recognize the importance of such benefits, demonstrating commitment to employee welfare and healthcare improvement.

Progyny, Inc. (PGNY) reported a full-year revenue of $786.9 million, reflecting 57% growth compared to 2021. The fourth quarter revenue totaled $214.3 million, a 68% increase year-over-year, with gross margin expanding by 110 basis points. Net income for the year was $30.4 million, down from $65.8 million in 2021, primarily due to higher tax expenses and stock compensation costs. Looking ahead, the company anticipates 2023 revenue to reach between $1 billion and $1.03 billion, driven by a growing client base, now at 288 clients, and over 5.4 million covered lives.

Progyny, Inc. (PGNY), a leading fertility benefits management company, will announce its financial results for the fourth quarter and full year ended December 31, 2022, after market close on February 27, 2023. A conference call will be held at 4:45 PM ET for investors to discuss these results, with a press release issued prior to the call. Interested parties can join via the provided dial-in numbers. An audio replay will be available until March 6, 2023. Progyny aims to redefine fertility solutions, showcasing the value of comprehensive benefits for employers, patients, and healthcare professionals.

Spruce Point Capital Management has released a report titled “Diagnosing Progyny As A Strong Sell,” indicating a potential 60% to 80% downside risk for Progyny, Inc. (PGNY), estimating a price range of $7.00 to $14.00 per share. The report raises concerns over management's previous work history linked to accounting fraud at a subsidiary of WebMD and questions Progyny's revenue recognition practices. It highlights risks linked to major clients like Amazon and Alphabet amidst industry layoffs and declining benefit utilization. The report challenges Progyny's marketing claims and mentions possible ethical issues within its treatment plans.

Progyny (Nasdaq: PGNY) announced strong financial results for Q4 2022, expecting revenues and net income to be at the high end of previous guidance. The company anticipates operating cash flow of approximately $50 million for Q4 and $79 million for the full year. CEO Pete Anevski highlighted healthy client utilization and a robust client base of over 370 covering 5.4 million lives. Progyny will present at the JP Morgan Healthcare Conference on January 10, 2023. The company remains optimistic about client expansion and continued demand for fertility benefits in 2023.

Progyny (Nasdaq: PGNY) announced a resumption of Menopur deliveries, significantly impacting its financial guidance for Q4 and the full year 2022. The company projects revenue between $781.5 million to $786.5 million, indicating a 56%-57% growth, and net income of $28.5 million to $29.5 million. Q4 revenue is expected to be $208.9 million to $213.9 million, with a 64%-68% growth rate. Progyny serves over 370 clients covering 5.4 million members, anticipating historical dispensing patterns to return by end of 2022.

Progyny, Inc. (Nasdaq: PGNY), a leader in fertility benefits management, announced its participation in the Credit Suisse 31st Annual Healthcare Conference. CEO Pete Anevski and CFO Mark Livingston will engage in a fireside chat on November 8, 2022, at 4:25 PM PT (7:25 PM ET). A live audiocast will be available on Progyny's website. The company is committed to enhancing family building benefits, providing patients with education and access to leading fertility specialists, ultimately reducing healthcare costs and improving clinical outcomes.

Progyny, Inc. (Nasdaq: PGNY) reported record quarterly revenue of $205.4 million, a 68% increase year-over-year, for the third quarter of 2022. The company secured a record 105 new client commitments, adding approximately 1.2 million covered lives. Adjusted EBITDA more than doubled to $35.0 million, reflecting strong demand for fertility solutions. However, net income decreased 21% to $13.2 million due to increased non-cash stock-based compensation. Full-year revenue guidance was raised to between $775 million and $785 million, indicating continued growth.