Business
Progyny, Inc. Provides Business Update and Announces Details for Its Second Quarter 2025 Results Report
Operational and Financial Flexibility Enhanced Through New Credit FacilitySecond Quarter Results Anticipated to be Slightly Above Previously Provided
About this update from Progyny, Inc.
[{"type":"text","content":"Operational and Financial Flexibility Enhanced Through New Credit FacilitySecond Quarter Results Anticipated to be Slightly Above Previously Provided Financial Guidance NEW YORK, July 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 that it has entered into a revolving credit facility (the “revolver” or the “facility”) which makes available to the Company up to $200 million in aggregate revolving credit commitments, which the Company can utilize for revolving credit borrowings, subject to customary borrowing conditions, until maturity on July 1, 2030. The facility is expected to enhance the Company’s operational and financial flexibility beyond its current ability to generate significant cash flow. “At this stage of our growth, entering into a facility is an appropriate next step to further enhance our strong financial profile and extend our market leadership, and with the favorable market conditions, we felt this was an opportune time for us to transact,” said Pete Anevski, Chief Executive Officer of Progyny. The revolver is undrawn, and the Company has no planned use for the facility at this time. The Company’s capital priorities, which include the evaluation of stock repurchases, the expansion of its product portfolio, investments in new distribution channels, and select acquisitions, remain unchanged. The Company also announced today that it expects its financial results for the quarterly period ending June 30, 2025, to be slightly better than the guidance ranges it provided during its first quarter earnings call. “As the second quarter progressed, we were pleased to see that member activity has paced favorably as compared to our guidance,” continued Anevski. “Accordingly, we now expect second quarter results for revenue, Adjusted net income and Adjusted EBITDA to be slightly above the ranges that we provided in May.” The company will report its financial results for the quarterly period ended June 30, 2025, after the close of the market on Thursday, August 7, 2025. The company will host a conference call at 4:45 p.m. Eastern Time (1:45 p.m. Pacific Time) and issue a press release regarding its financial results prior to the start of the call. Interested participants in the United States may access the conf...