Business
Progyny, Inc. Announces Fourth Quarter 2024 Results
Reports Quarterly Revenue of $298.4 Million, Reflecting 10.6% GrowthGenerated $52.2 Million of Quarterly Operating Cash FlowIssues Financial Guidance for
About this update from Progyny, Inc.
[{"type":"text","content":"Reports Quarterly Revenue of $298.4 Million, Reflecting 10.6% GrowthGenerated $52.2 Million of Quarterly Operating Cash FlowIssues Financial Guidance for 2025, Reflecting Tenth Consecutive Year of Revenue Growth NEW YORK, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Progyny, Inc. (Nasdaq: PGNY) (“Progyny” or the “Company”), a transformative fertility, family building and women's health benefits solution, today announced its financial results for the three- and twelve-month periods ended December 31, 2024 (“the fourth quarter of 2024” and \"the full year\", respectively) as compared to the three- and twelve-month periods ended December 31, 2023 (“the fourth quarter of 2023” and “the prior year period”, respectively). “We're pleased to report that 2024 ended on a strong note, with continued improvement in the pacing of member engagement as compared to what we saw earlier in the year,” said Pete Anevski, Chief Executive Officer of Progyny. “As 2025 begins, we're continuing to see member engagement trending towards historical levels. “As we enter our tenth year in market, we're continuing to deliver on the promise of value-based care through our unique approach to plan design and benefit management. The cornerstone of our care delivery model is to ensure that we're providing the right solution to members when it's the right time for them to pursue care, because we recognize that every person's journey is unique,” continued Anevski. “Our solutions meet deeply personal needs, and while the right time to pursue care will vary for a relatively small number of members from time to time, our results this quarter affirm that we're addressing highly prevalent conditions fundamentally relevant to women's health and well-being.” “2024 was a strong year for Progyny, as we achieved record levels of both revenue and Adjusted EBITDA, generating $179 million in cash flow from operations and returning $300 million in capital back to our shareholders through multiple repurchase programs,” said Mark Livingston, Progyny’s Chief Financial Officer. Fourth Quarter and Full Year 2024 Highlights: (unaudited; in thousands, except per share amounts)4Q 2024 4Q 2023 FY 2024 FY 2023Revenue$298,431 $269,940 $1,167,221 $1,088,598 Gross Profit$63,432 $56,894 $253,363 $238,799 Gross Margin 21.3% 21.1% 21.7% 21.9%Net Income$10,532 $13,470 $54,336 $62,037 Net Income per Diluted...