Business
Progyny, Inc. Announces First Quarter 2025 Results
Reports Record Revenue of $324.0 Million, Reflecting 16.5% GrowthRaises Full Year Guidance Due to Strong Start to the YearEarly Selling Season Activity
About this update from Progyny, Inc.
[{"type":"text","content":"Reports Record Revenue of $324.0 Million, Reflecting 16.5% GrowthRaises Full Year Guidance Due to Strong Start to the YearEarly Selling Season Activity Reflects Ongoing Demand in Women's Health and Family Building Solutions NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) -- Progyny, Inc. (Nasdaq: PGNY) (“Progyny” or the “Company”), a global leader in women’s health and family building solutions, today announced its financial results for the three-month period ended March 31, 2025 (“the first quarter of 2025”) as compared to the three-month period ended March 31, 2024 (“the first quarter of 2024” or “the prior year period”). “We're pleased with the strong start to the year, highlighted by both our solid financial results as well as the progress made with our investments to expand the platform and extend our leading position as the solution of choice in women's health and family building,” said Pete Anevski, Chief Executive Officer of Progyny. “As HR leaders begin to consider their benefits strategies for next year, we continue to see that women's health and family building remain a priority for all types of employers,” continued Anevski. “Although it's early in the selling season - and a number of things can still impact how the year unfolds, including the ongoing macro economic uncertainty - with the visibility we have into current overall sales activity, we're off to a good start and we believe we have multiple pathways to meet our sales goals for the year.” “The first quarter results reflect double-digit revenue growth, increased gross margin, and significant cash flow. In addition, member engagement continues to be consistent with the historical range, reinforcing - once again - that the desire to pursue family building is fundamental to our members,” said Mark Livingston, Progyny’s Chief Financial Officer. First Quarter 2025 Highlights: (unaudited; in thousands, except per share amounts)1Q 2025 1Q 2024Revenue$324,038 $278,078 Gross Profit$75,795 $62,406 Gross Margin 23.4% 22.4%Net Income$15,059 $16,898 Net Income per Diluted Share1 $0.17 $0.17 Adjusted Earnings per Diluted Share2$0.48 $0.39 Adjusted EBITDA2$57,790 $50,291 Adjusted EBITDA Margin2 17.8% 18.1% Net income per diluted share reflects weighted-average shares outstanding as adjusted for potential dilutive securities, including options, restricted stock units, warrants to pu...