Progyny, Inc. · NASDAQ:PGNY
Progyny — JP Morgan Healthcare Conference 2024
21 slides from Progyny's conference presentation, January 2024
Slide 1: JP Morgan Healthcare Conference
JP Morgan Healthcare Conference Empowering January 2024 your workforce’s milestone moments 1 PROPRIETARY & CONFIDENTIAL | NOT FOR DISTRIBUTION
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements cont
Slide 3: Progyny is a mission-driven company
Progyny is a mission-driven company At Progyny, we believe in a world where everyone can realize dreams of family and ideal health 3 PR R eO f ePr RtI o E TsAl R i dYe &2 Cf o OrN tFhI D e ESNaTfI e A LH a| r bNoOr Tl aF n OgRuD aIgSeT RrIeBgUaT rI O d iNn g t h i s p r e s e n t a t i o n
Slide 4: As we enter our ninth year in market, Progyny continues to be a pioneer
As we enter our ninth year in market, Progyny continues to be a pioneer Driving measurable, repeatable ROI for our clients Value-based care in family … delivers more effective healthcare building solutions… spend for plan sponsors A data-driven approach to plan … produces sustained, design and benef
Slide 5: Progyny at a glance
Progyny at a glance Clients Covered Lives In 000s 500 7000 61x 460+ 6.7M increase in covered lives since inception clients covered lives 375 5250 Reflects early launches of clients won in most recent selling season • 45+ industries 250 3500 • Near 100% retention every year • 20% to 25% of clients in
Slide 6: Supportive benefits addressing major gaps that are top of mind for today's workforce
Supportive benefits addressing major gaps that are top of mind for today’s workforce 1 in 5 1 in 5 Couples struggle Women of with infertility1, yet childbearing age many are left out have 2 or more of existing chronic coverage. conditions2. 80% 59% Of employees Of women over want to work for a 40 mi
Slide 7: Tailwinds fueling our growth remain intact
Tailwinds fueling our growth remain intact Workplace dynamics Annual ART cycle volumes Progyny market share as reported by the CDC ~50% ART Cycles In 000s Because we’ve grown 7x faster of workers say fertility 10-Year 450 CAGR: 10.5% than the market, we’ve been coverage is an important rapidly accum
Slide 8: Progyny has solved for what's long been broken
Progyny has solved for what’s long been broken Pre-tax benefit with a Equitable coverage that bundled plan design overcomes restrictive that avoids cost-based COST ACCESS coverage requirements, and tradeoffs in care integrated medical/Rx OUTCOMES Active management of A trusted expert high-performing
Slide 9: Driving tangible, sustainable value through our superior clinical outcomes
Driving tangible, sustainable value through our superior clinical outcomes Our clinical outcomes Measurable results Higher 36% better 27% better Fewer treatments Miscarriage cost More efficient use employee retrievals per live birth satisfaction, live birth2 rate2 needed avoidance of spend productiv
Slide 10: Our differentiation is fueling our market momentum
Our differentiation is fueling our market momentum Our last six sales seasons Average covered lives per (cumulative lives added since 2018) new client won In 000s • Since our first year in market, 6500 20,000 covered lives have grown by +1.3M total 67% CAGR, primarily through +1,300K new lives new c
Slide 11: At an early stage of penetrating our market opportunity
At an early stage of penetrating our market opportunity Lives covered by large, self- Future TAM expansion Large, self-insured employers insured employers opportunities Addressable market: 8,000 employers Addressable market: 100 Million lives • Federal, state and local government populations (we’ve
Slide 12: Early stage of penetrating the most well-known brands
Early stage of penetrating the most well-known brands Penetration of the Adding Fortune 500 clients Penetration of the largest Fortune 500 every year in market industries within Fortune 500 100 100% +7 Fortune 17% of the Fortune 500 are Progyny 500 in 2024 clients today We are equally underpenetrate
Slide 13: Most recent growth mirrors our earliest wins
Most recent growth mirrors our earliest wins Even with a 61-fold increase in members, the size distribution of our client base remains nearly identical to our earliest years in market, demonstrating that our opportunities span all types/sizes of clients 2018 – 2021 2022 – 2024 cohorts cohorts Compos
Slide 14: Progyny is the brand of choice among leading brands
Progyny is the brand of choice among leading brands Over 460 total clients 14 PR R eO f ePr RtI o E TsAl R i dYe &2 Cf o OrN tFhI D e ESNaTfI e A LH a| r bNoOr Tl aF n OgRuD aIgSeT RrIeBgUaT rI O d iNn g t h i s p r e s e n t a t i o n
Slide 15: Growing within our embedded base
Growing within our embedded base Drivers of Growth High Retention Rate within a Client Expansions: • Headcount growth • Additional populations We’ve achieved a Upsells: • Progyny Rx near 100% • Additional Smart Cycles Client Sales Year retention rate • Fertility preservation Cohort Expansion every y
Slide 16: Closing gaps in care within one industry-leading concierge experience
Closing gaps in care within one industry-leading concierge experience Our experience-first model leading the way across life’s milestones Extending our leadership into other Fertility & family building services where there are gaps Culturally- competent, inclusive care Dedicated 1:1 PCA experts Prec
Slide 17: Scaling rapidly and profitably
Scaling rapidly and profitably Our increasing scale Our profitability ~75% $186.0 - $188.5 ~20% 39% million 2023 revenue growth at revenue CAGR 2023 Adj EBITDA margin 2023 Adjusted EBITDA on incremental midpoint1 2016-2023 guidance1,2 revenue1,2 • Strong growth in revenue and Revenue ($mm) profitabi
Slide 18: Uniquely delivering value to all constituencies
Uniquely delivering value to all constituencies Members Clients Providers 18 PR R eO f ePr RtI o E TsAl R i dYe &2 Cf o OrN tFhI D e ESNaTfI e A LH a| r bNoOr Tl aF n OgRuD aIgSeT RrIeBgUaT rI O d iNn g t h i s p r e s e n t a t i o n
Slide 19: PROPRIETARY & CONFIDENTIAL | NOT FOR DISTRIBUTION
19 PROPRIETARY & CONFIDENTIAL | NOT FOR DISTRIBUTION
Slide 20: JP Morgan Healthcare Conference
JP Morgan Healthcare Conference Empowering January 2024 your workforce’s milestone moments 20 PROPRIETARY & CONFIDENTIAL | NOT FOR DISTRIBUTION
Slide 21: Appendix: Reconciliation of GAAP to Non-GAAP Financial Measures
Appendix: Reconciliation of GAAP to Non-GAAP Financial Measures Reconciliation of Anticipated Net Income to Anticipated Adjusted EBITDA for the Year Ended Reconciliation of Net Income to Adjusted EBITDA for the Year Ended December 31, December 31, 20231 (in thousands) 2016 2017 2018 2019 2020 2021 2