Financial Data and Key Metrics Changes - Second quarter revenue grew 9.5% year-over-year to $332.9 million, primarily due to an increase in the number of clients and covered lives [20] - Adjusted EBITDA grew 6% to $58 million, with an adjusted EBITDA margin of 17.4%, a slight decline from the previous year [28] - Net income was $17.1 million, or $0.19 per diluted share, compared to $16.5 million, or $0.17 per diluted share in the prior year [28] Business Line Data and Key Metrics Changes - Fertility benefits revenue increased 11% year-over-year to $214 million, while pharmacy revenue increased 8% to $119 million [26] - Nearly 17,000 ART cycles were performed in the quarter, a 9% increase over the second quarter last year [26] - Female utilization was 0.48%, slightly above the second quarter of the previous year [25] Market Data and Key Metrics Changes - As of June 30, the company had 542 clients with at least 1,000 lives, representing an average of 6.74 million covered lives, compared to 463 clients and 6.41 million covered lives a year ago [21] - The company expects to approach 6.8 million covered lives following additional client launches [22] - The diversity of clients across various industries provides insulation from sector-specific activities [24] Company Strategy and Development Direction - The company aims to expand market share through new client acquisition, maintain high client retention, and attract partners to enhance distribution reach [6][7] - Recent acquisitions, such as Benefit Bump, have been integrated to enhance service offerings [12] - The company is focused on expanding its product portfolio and enhancing member experience through technology and partnerships [18] Management's Comments on Operating Environment and Future Outlook - Management noted healthy member engagement levels consistent with historical patterns and raised full-year guidance due to strong first-half results [5][34] - The company anticipates continued growth in ART cycles and has modestly increased full-year utilization assumptions [32] - Management expressed confidence in achieving revenue growth of 5.8% to 8.8% for the full year, excluding the impact of a large former client [34] Other Important Information - The company generated $55.5 million in operating cash flow in the second quarter, highlighting strong cash flow conversion [29] - The company has no debt and entered into a revolving credit facility for additional liquidity [30] - The integration of new services, such as pelvic floor therapy, is expected to enhance overall women's health offerings [15] Q&A Session Summary Question: Is the commentary around the selling season and early commitments on a gross basis? - Management confirmed it is on a gross basis, excluding the large client contribution from both years [36] Question: Are smaller clients signing up for multiple services while larger clients take longer to decide? - Management clarified that the sales year started slower but caught up in June and July, with large clients also closing deals [40][41] Question: Is there a difference in expected revenue based on the demographics of new clients? - Management indicated that the demographics yield a higher expected revenue based on the industries of new clients [60][71] Question: How is the growth of Progyny Rx compared to fertility benefits? - Management stated that growth in Progyny Rx is more about timing and expects it to be close to medical by the end of the year [44] Question: Can you provide insights on the mix of services and pricing? - Management noted that there was nothing significant to call out regarding the mix this quarter compared to prior periods [76] Question: Has the company ever had clients that left and then returned? - Management confirmed that there have been instances of clients returning, although no specific names were mentioned [81]

NEW YORK, July 30, 2025 (GLOBE NEWSWIRE) -- Progyny, Inc. (Nasdaq: PGNY), a global leader in women’s health and family building solutions, today announced the results of their new national Women in the Workplace research conducted in partnership with Dynata, the world’s largest first-party data company for insights, activation, and measurement. The study reveals a persistent gap between what employees want from their women’s health benefits, and what employers believe they are providing. Specifically, resul ...

Core Insights - Progyny, Inc. has announced a collaboration with Amazon's Health Benefits Connector to enhance access to comprehensive women's health services [1][3] - The partnership aims to simplify the process for eligible individuals to discover and enroll in Progyny benefits through their employers or health plans [1][3] Company Overview - Progyny is a global leader in women's health and family building solutions, serving over 530 employers and health plans in the U.S. and supporting more than 6.7 million lives [2][5] - The company's benefits cover the entire reproductive health continuum, including fertility, preconception, pregnancy, postpartum, menopause, and parenting support, while achieving superior outcomes and member satisfaction [2][5] Collaboration Details - The collaboration with Amazon is significant as Progyny becomes the first comprehensive women's health provider on Amazon's Health Benefits Connector, facilitating easier access to its services [3][4] - Amazon's Health Benefits Connector addresses the challenge of individuals not understanding their available health benefits, allowing customers to verify access to Progyny with just a few clicks [3][4] Strategic Vision - Both companies aim to create market-leading solutions that simplify access to high-quality, inclusive care, making it the industry standard [4] - Progyny's approach includes concierge support, coaching, education, and digital tools, along with access to a premier network of specialists, driving optimal clinical outcomes and reducing healthcare costs [6][5] Recognition and Growth - Progyny has received multiple accolades for its leadership and growth, including being named a TIME100 Most Influential Company and a CNBC Disruptor 50 [7]

Company Overview - Progyny, Inc. is a global leader in women's health and family building solutions, trusted by leading employers, health plans, and benefit purchasers [3][5] - The company aims to create a world where everyone can achieve their family and health aspirations through comprehensive and inclusive solutions [3] Recent Events - Progyny's CEO Pete Anevski and CFO Mark Livingston will participate in a fireside chat at the BofA Securities 2025 Health Care Conference on May 14, 2025, at 3:00 P.M. Pacific Time / 6:00 P.M. Eastern Time [1] Services and Solutions - Progyny offers a benefits solution that includes concierge support, coaching, education, and digital tools, providing access to a premier network of fertility and women's health specialists [4] - The company's approach is designed to drive optimal clinical outcomes while reducing healthcare costs [4] Recognition and Awards - Progyny has received multiple accolades, including being named a TIME100 Most Influential Company, CNBC Disruptor 50, and recognized by Modern Healthcare, Forbes, Financial Times, and Inc. for its leadership and growth [5]

Core Insights - Progyny, Inc. reported record revenue of $324.0 million for Q1 2025, reflecting a 16.5% growth compared to $278.1 million in Q1 2024, driven by an increase in clients and covered lives [4][5][14] - The company raised its full-year guidance due to a strong start to the year and ongoing demand in women's health and family building solutions [1][16] - Member engagement remains consistent with historical levels, indicating a strong desire for family building among members [3][12] Financial Performance - Revenue for Q1 2025 was $324.0 million, a 16.5% increase from $278.1 million in Q1 2024 [4][5] - Gross profit increased by 21% to $75.8 million, with a gross margin of 23.4%, up from 22.4% in the prior year [7][14] - Net income was $15.1 million, or $0.17 per diluted share, compared to $16.9 million, also $0.17 per diluted share, in Q1 2024 [8][34] - Adjusted EBITDA rose 15% to $57.8 million, with an adjusted EBITDA margin of 17.8%, slightly down from 18.1% in Q1 2024 [9][14] Cash Flow and Financial Position - Net cash provided by operating activities was $49.8 million in Q1 2025, compared to $25.7 million in Q1 2024, attributed to higher profitability [10] - As of March 31, 2025, the company had total working capital of approximately $330.6 million and no debt, with cash and cash equivalents totaling $256.1 million [11] Client Metrics - The company had 532 fertility and family building clients as of March 31, 2025, up from 451 clients a year earlier [12] - Fertility benefit services revenue was $206.4 million, a 22% increase from $169.8 million in Q1 2024, while pharmacy benefit services revenue increased by 9% to $117.6 million [14] Guidance and Outlook - For the full year 2025, revenue is projected to be between $1.185 billion and $1.235 billion, reflecting growth of 1.5% to 5.8% [20] - The second quarter of 2025 is expected to generate revenue between $310.0 million and $325.0 million, with net income projected between $11.5 million and $14.5 million [20]

Group 1 - Progyny, Inc. will report its financial results for the quarterly period ended March 31, 2025, on May 8, 2025, after market close [1] - A conference call will be held at 4:45 p.m. Eastern Time on the same day, with a press release issued prior to the call [1] - Interested participants can access the conference call via specific phone numbers and passcodes provided for both U.S. and international participants [2] Group 2 - An audio replay of the conference call will be available until May 15, 2025, with access details also provided [2] - A live webcast and archive of the call will be accessible from the Events and Presentations section of Progyny's website [3] Group 3 - Progyny is recognized as a global leader in women's health and family building solutions, serving leading employers and health plans [4] - The company aims to provide comprehensive and inclusive solutions that benefit employers, patients, and physicians [4] - Progyny's benefits solution includes concierge support, coaching, education, and access to a network of fertility and women's health specialists [5] Group 4 - Progyny is headquartered in New York City and has received multiple accolades for its leadership and growth, including recognition from TIME, CNBC, and Forbes [6]