Progyny(US:PGNY) The Motley Foolยท2024-09-19 15:37Core Viewpoint - Progyny's shares fell significantly by 30.1% following the announcement of losing a major client, which is expected to impact future revenues despite no immediate financial repercussions for the current fiscal year [1][3]. Group 1: Client Relationship - The unnamed major client has had a multiyear relationship with Progyny and reported no issues regarding member satisfaction, quality of service, or outcomes during this period [2]. - There have been no disputes between Progyny and the client, indicating a smooth operational history [2]. Group 2: Financial Impact - The client accounted for 12% of Progyny's revenue over the six months ending June 30, and 13% over the twelve months ending December 31, 2023 [4]. - The loss of this client will affect Progyny's financials in the following year, although the current fiscal year remains unaffected due to the existing service agreement lasting through the end of 2024 [3][4]. - Progyny continues to project an increase in overall member count for both 2024 and 2025, suggesting potential for future growth despite the loss [4]. Group 3: Investment Considerations - The recent decline in stock price may attract some investors looking to buy on the dip, but caution is advised until there is more clarity on the company's growth prospects [5].