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Globe and Mail
08-07-2025
- Business
- Globe and Mail
Progyny, Inc. Provides Business Update and Announces Details for Its Second Quarter 2025 Results Report
Operational and Financial Flexibility Enhanced Through New Credit Facility Second 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 conference call by dialing 1.866.825.7331 and using the passcode 265484. International participants may access the call by dialing 1.973.413.6106 and using the same passcode. An audio replay of the call will be available through Thursday, August 14, 2025, and may be accessed by dialing 1.800.332.6854 (U.S. participants) or 1.973.528.0005 (international participants) with the passcode 265484. A live webcast and archive of the call will be available from the Events and Presentations section of the company's website at About Progyny Progyny (Nasdaq: PGNY) is a global leader in women's health and family building solutions, trusted by the nation's leading employers, health plans and benefit purchasers. We envision a world where everyone can realize their dreams of family and ideal health. Our outcomes prove that comprehensive, inclusive and intentionally designed solutions simultaneously benefit employers, patients, and physicians. Our benefits solution empowers patients with concierge support, coaching, education, and digital tools; provides access to a premier network of fertility and women's health specialists who use the latest science and technologies; drives optimal clinical outcomes; and reduces healthcare costs. Headquartered in New York City, Progyny has been recognized for its leadership and growth as a TIME100 Most Influential Company, CNBC Disruptor 50, Modern Healthcare's Best Places to Work in Healthcare, Forbes' Best Employers, Financial Times Fastest Growing Companies, INC. 5000, INC. Power Partners and Crain's Fast 50 for NYC. For more information, visit Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 This press release 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 contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our financial outlook for the second quarter and full year 2025, including the impact of our sales season and client launches; our anticipated number of clients and covered lives for 2025; our expected utilization rates and mix; the demand for our solutions; our expectations for our selling season for 2026 launches; our positioning to successfully manage economic uncertainty on our business; the timing of client decisions; our ability to retain existing clients and acquire new clients; and our business strategy, plans, goals and expectations concerning our market position, future operations, and other financial and operating information. The words 'anticipates,' 'assumes,' 'believe,' 'contemplate,' 'continues, ' 'could,' 'estimates,' 'expects,' 'future,' 'intends,' 'may,' 'plans,' 'predict,' 'potential,' 'project,' 'seeks,' 'should,' 'target,' 'will,' and the negative of these or similar expressions and phrases are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward- looking statements. These risks include, without limitation, failure to meet our publicly announced guidance or other expectations about our business; competition in the market in which we operate; our history of operating losses and ability to sustain profitability; unfavorable conditions in our industry or the United States economy; our limited operating history and the difficulty in predicting our future results of operations; our ability to attract and retain clients and increase the adoption of services within our client base; the loss of any of our largest client accounts; changes in the technology industry; changes or developments in the health insurance market; negative publicity in the health benefits industry; lags, failures or security breaches in our computer systems or those of our vendors; a significant change in the utilization of our solutions; our ability to offer high-quality support; positive references from our existing clients; our ability to develop and expand our marketing and sales capabilities; the rate of growth of our future revenue; the accuracy of the estimates and assumptions we use to determine the size of target markets; our ability to successfully manage our growth; reductions in employee benefits spending; seasonal fluctuations in our sales; the adoption of new solutions and services by our clients or members; our ability to innovate and develop new offerings; our ability to adapt and respond to the changing medical landscape, regulations, and client needs, requirements or preferences; our ability to maintain and enhance our brand; our ability to attract and retain members of our management team, key employees, or other qualified personnel; risks related to any litigation against us; our ability to maintain our Center of Excellence network of healthcare providers; our strategic relationships with and monitoring of third parties; our ability to maintain our pharmacy distribution network if there is a disruption to our network or its associated supply chains; our relationship with key pharmacy program partners or any decline in rebates provided by them; our ability to maintain our relationships with benefits consultants; exposure to credit risk from our members; risks related to government regulation; risks related to our business with government entities; our ability to protect our intellectual property rights; risks related to acquisitions, strategic investments, or partnerships; federal tax reform and changes to our effective tax rate; the imposition of state and local state taxes; our ability to utilize a portion of our net operating loss or research tax credit carryforwards; our ability to develop or maintain effective internal control over financial reporting; and our ability to adapt and respond to the changing SEC or stakeholder expectations regarding environmental, social and governance practices. For a detailed discussion of these and other risk factors, please refer to our filings with the Securities and Exchange Commission (the 'SEC'), including in the section entitled 'Risk Factors' in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and subsequent reports that we file with the SEC, which are available at and on the SEC's website at Forward-looking statements represent our management's beliefs and assumptions only as of the date of this press release. Our actual future results could differ materially from what we expect. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons. Non-GAAP Financial Measures In addition to disclosing financial measures prepared in accordance with U.S. generally accepted accounting principles ('GAAP'), this press release includes the non-GAAP financial measure Adjusted EBITDA. Adjusted EBITDA is a supplemental financial measure that is not required by, or presented in accordance with, GAAP. We believe that this non-GAAP measure, when taken together with our GAAP financial results, provides meaningful supplemental information regarding our operating performance and facilitates internal comparisons of our historical operating performance on a more consistent basis by excluding certain items that may not be indicative of our business, results of operations or outlook. In particular, we believe that the use of Adjusted EBITDA is helpful to our investors as it is used by management in assessing the health of our business, determining incentive compensation, evaluating our operating performance, and for internal planning and forecasting purposes. Adjusted EBITDA is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Some of the limitations of Adjusted EBITDA include: (1) it does not properly reflect capital commitments to be paid in the future; (2) although depreciation and amortization are non-cash charges, the underlying assets may need to be replaced and Adjusted EBITDA does not reflect these capital expenditures; (3) it does not consider the impact of stock-based compensation expense; (4) it does not reflect other non-operating income and expenses, including interest and other income, net; and (5) it does not reflect tax payments that may represent a reduction in cash available to us. In addition, Adjusted EBITDA may not be comparable to similarly titled measures of other companies because they may not calculate such measures in the same manner as we calculate Adjusted EBITDA, limiting its usefulness as a comparative measure. Because of these limitations, when evaluating our performance, you should consider Adjusted EBITDA alongside other financial performance measures, including our net income and our other GAAP results. We calculate Adjusted EBITDA as net income, adjusted to exclude depreciation and amortization; stock-based compensation expense; interest and other income, net; and provision for income taxes.
Yahoo
19-05-2025
- Business
- Yahoo
Q1 Earnings Outperformers: Progyny (NASDAQ:PGNY) And The Rest Of The Health Insurance Providers Stocks
Looking back on health insurance providers stocks' Q1 earnings, we examine this quarter's best and worst performers, including Progyny (NASDAQ:PGNY) and its peers. Upfront premiums collected by health insurers lead to reliable revenue, but profitability ultimately depends on accurate risk assessments and the ability to control medical costs. Health insurers are also highly sensitive to regulatory changes and economic conditions such as unemployment. Going forward, the industry faces tailwinds from an aging population, increasing demand for personalized healthcare services, and advancements in data analytics to improve cost management. However, continued regulatory scrutiny on pricing practices, the potential for government-led reforms such as expanded public healthcare options, and inflation in medical costs could add volatility to margins. One big debate among investors is the long-term impact of AI and whether it will help underwriting, fraud detection, and claims processing or whether it may wade into ethical grey areas like reinforcing biases and widening disparities in medical care. The 11 health insurance providers stocks we track reported a strong Q1. As a group, revenues beat analysts' consensus estimates by 3% while next quarter's revenue guidance was in line. Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 8.4% since the latest earnings results. Pioneering a data-driven approach to family building that has achieved an industry-leading patient satisfaction score of +80, Progyny (NASDAQ:PGNY) provides comprehensive fertility and family building benefits solutions to employers, helping employees access quality fertility treatments and support services. Progyny reported revenues of $324 million, up 16.5% year on year. This print exceeded analysts' expectations by 5%. Overall, it was a satisfactory quarter for the company with an impressive beat of analysts' sales volume estimates. '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. Progyny delivered the weakest full-year guidance update of the whole group. Unsurprisingly, the stock is down 10% since reporting and currently trades at $21.03. Is now the time to buy Progyny? Access our full analysis of the earnings results here, it's free. With over 9,000 retail pharmacy locations serving as neighborhood health destinations across America, CVS Health (NYSE:CVS) operates retail pharmacies, provides pharmacy benefit management services, and offers health insurance through its Aetna subsidiary. CVS Health reported revenues of $94.59 billion, up 7% year on year, outperforming analysts' expectations by 1.5%. The business had an exceptional quarter with an impressive beat of analysts' same-store sales estimates and a solid beat of analysts' EPS estimates. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 6.5% since reporting. It currently trades at $62.36. Is now the time to buy CVS Health? Access our full analysis of the earnings results here, it's free. With over 100 million people served across its various businesses and a workforce of more than 400,000, UnitedHealth Group (NYSE:UNH) operates a health insurance business and Optum, a healthcare services division that provides everything from pharmacy benefits to primary care. UnitedHealth reported revenues of $109.6 billion, up 9.8% year on year, falling short of analysts' expectations by 1.7%. It was a softer quarter as it posted a significant miss of analysts' full-year EPS guidance estimates and a slight miss of analysts' EPS estimates. UnitedHealth delivered the weakest performance against analyst estimates in the group. The company added 395,000 customers to reach a total of 54.12 million. As expected, the stock is down 50.9% since the results and currently trades at $287.66. Read our full analysis of UnitedHealth's results here. Founded in 2013 with a mission to transform healthcare for seniors, Alignment Healthcare (NASDAQ:ALHC) provides Medicare Advantage health plans for seniors with features like concierge services, transportation benefits, and technology-driven care coordination. Alignment Healthcare reported revenues of $926.9 million, up 47.5% year on year. This number beat analysts' expectations by 4.4%. Overall, it was a very strong quarter as it also put up a solid beat of analysts' EPS estimates. Alignment Healthcare achieved the fastest revenue growth among its peers. The company added 28,400 customers to reach a total of 217,500. The stock is down 10.2% since reporting and currently trades at $15.00. Read our full, actionable report on Alignment Healthcare here, it's free. With roots dating back to 1792 and serving millions of customers across the globe, The Cigna Group (NYSE:CI) provides healthcare services through its Evernorth Health Services and Cigna Healthcare segments, offering pharmacy benefits, specialty care, and medical plans. Cigna reported revenues of $65.5 billion, up 14.4% year on year. This result surpassed analysts' expectations by 8.4%. More broadly, it was a satisfactory quarter as it also recorded a decent beat of analysts' EPS estimates but a significant miss of analysts' customer base estimates. Cigna scored the biggest analyst estimates beat among its peers. The company lost 1.14 million customers and ended up with a total of 16.36 million. The stock is down 5.3% since reporting and currently trades at $317. Read our full, actionable report on Cigna here, it's free. Thanks to the Fed's rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn't send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump's November win lit a fire under major indices and sent them to all-time highs. However, there's still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy. Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Join Paid Stock Investor Research Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here. 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Yahoo
12-05-2025
- Business
- Yahoo
Progyny, Inc. to Present at BofA Securities 2025 Health Care Conference
NEW YORK, May 12, 2025 (GLOBE NEWSWIRE) -- Progyny, Inc. (Nasdaq: PGNY), a global leader in women's health and family building solutions, today announced that Progyny's Chief Executive Officer, Pete Anevski, and Chief Financial Officer, Mark Livingston, will participate in a fireside chat at the BofA Securities 2025 Health Care Conference on Wednesday, May 14, 2025, at 3:00 P.M. Pacific Time / 6:00 P.M. Eastern Time. A live audiocast and replay will be available from the Events and Presentations section of Progyny's website at About Progyny Progyny (Nasdaq: PGNY) is a global leader in women's health and family building solutions, trusted by the nation's leading employers, health plans and benefit purchasers. We envision a world where everyone can realize their dreams of family and ideal health. Our outcomes prove that comprehensive, inclusive, and intentionally designed solutions simultaneously benefit employers, patients and physicians. Our benefits solution empowers patients with concierge support, coaching, education, and digital tools; provides access to a premier network of fertility and women's health specialists who use the latest science and technologies; drives optimal clinical outcomes; and reduces healthcare costs. Headquartered in New York City, Progyny has been recognized for its leadership and growth as a TIME100 Most Influential Company, CNBC Disruptor 50, Modern Healthcare's Best Places to Work in Healthcare, Forbes' Best Employers, Financial Times Fastest Growing Companies, Inc. 5000, Inc. Power Partners, and Crain's Fast 50 for NYC. For more information, visit For Further Information, Please Contact:Investors:James Hartinvestors@ Media:Alexis Fordmedia@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-05-2025
- Business
- Yahoo
Progyny, Inc. to Present at BofA Securities 2025 Health Care Conference
NEW YORK, May 12, 2025 (GLOBE NEWSWIRE) -- Progyny, Inc. (Nasdaq: PGNY), a global leader in women's health and family building solutions, today announced that Progyny's Chief Executive Officer, Pete Anevski, and Chief Financial Officer, Mark Livingston, will participate in a fireside chat at the BofA Securities 2025 Health Care Conference on Wednesday, May 14, 2025, at 3:00 P.M. Pacific Time / 6:00 P.M. Eastern Time. A live audiocast and replay will be available from the Events and Presentations section of Progyny's website at About Progyny Progyny (Nasdaq: PGNY) is a global leader in women's health and family building solutions, trusted by the nation's leading employers, health plans and benefit purchasers. We envision a world where everyone can realize their dreams of family and ideal health. Our outcomes prove that comprehensive, inclusive, and intentionally designed solutions simultaneously benefit employers, patients and physicians. Our benefits solution empowers patients with concierge support, coaching, education, and digital tools; provides access to a premier network of fertility and women's health specialists who use the latest science and technologies; drives optimal clinical outcomes; and reduces healthcare costs. Headquartered in New York City, Progyny has been recognized for its leadership and growth as a TIME100 Most Influential Company, CNBC Disruptor 50, Modern Healthcare's Best Places to Work in Healthcare, Forbes' Best Employers, Financial Times Fastest Growing Companies, Inc. 5000, Inc. Power Partners, and Crain's Fast 50 for NYC. For more information, visit For Further Information, Please Contact:Investors:James Hartinvestors@ Media:Alexis Fordmedia@
Yahoo
09-05-2025
- Business
- Yahoo
PGNY Q1 Earnings Call: Product Expansion, Member Growth, and Guidance Raised
Fertility benefits company Progyny (NASDAQ:PGNY) reported Q1 CY2025 results exceeding the market's revenue expectations , with sales up 16.5% year on year to $324 million. The company expects next quarter's revenue to be around $317.5 million, close to analysts' estimates. Its non-GAAP profit of $0.48 per share was 7.7% above analysts' consensus estimates. Is now the time to buy PGNY? Find out in our full research report (it's free). Revenue: $324 million vs analyst estimates of $308.7 million (16.5% year-on-year growth, 5% beat) Adjusted EPS: $0.48 vs analyst estimates of $0.45 (7.7% beat) Adjusted EBITDA: $57.79 million vs analyst estimates of $54.71 million (17.8% margin, 5.6% beat) The company slightly lifted its revenue guidance for the full year to $1.21 billion at the midpoint from $1.2 billion Management raised its full-year Adjusted EPS guidance to $1.59 at the midpoint, a 1.3% increase EBITDA guidance for the full year is $196.5 million at the midpoint, in line with analyst expectations Operating Margin: 7.5%, in line with the same quarter last year Free Cash Flow Margin: 14.5%, up from 8.9% in the same quarter last year Sales Volumes rose 9.2% year on year (12.4% in the same quarter last year) Market Capitalization: $2 billion Progyny's first quarter results reflected increased client adoption and higher member engagement, with management attributing revenue growth to a rise in covered lives and continued demand for its fertility and women's health solutions. CEO Pete Anevski pointed to shifting demographic trends, such as later family planning among women, as key factors driving the need for Progyny's services. He also noted, "Employers can proactively manage these risks through Progyny's comprehensive solution," referencing the company's role in addressing high-risk pregnancies and related costs for employers. Looking ahead, management raised both revenue and adjusted earnings guidance for the year, citing a healthy sales pipeline and early positive feedback on new service modules. CFO Mark Livingston cautioned that future margins could moderate due to ongoing investments but expects full-year gross margin expansion versus last year. The company continues to monitor macroeconomic headwinds and client decision timelines, but Anevski said, "We entered this season feeling well positioned," emphasizing stable demand across diverse industries. Progyny's management identified several factors shaping Q1 results and the outlook for the year, including shifts in member demographics, product portfolio expansion, and sales pipeline activity. Member Demographic Shifts: Management highlighted ongoing societal trends of women postponing childbirth into their 30s and 40s, which increases the prevalence of infertility and drives demand for fertility benefits. New Product Modules: Recent launches in maternity, postpartum, and menopause support are seeing strong market interest, especially the menopause product due to its broader addressable audience. Management expects these modules to deepen client relationships over time. Sales Pipeline Activity: The current pipeline is comparable in dollar value to last year, but average covered lives per opportunity are slightly lower, which management attributes to timing and macroeconomic factors. However, there is no apparent slowdown in employer decision-making or RFP activity. Client Retention and Upsell: Approximately 20–25% of existing clients typically expand their suite of services annually, with last year's growth in upsells reaching 30%, boosted by new women's health solutions. Transition of Large Client: Revenue this quarter included contributions from a large former client under a transition of care agreement, but even excluding this, core business growth remained robust. Management emphasized that member base expansion continues despite client churn. Management expects future performance to be shaped by a combination of sustained employer demand for women's health benefits, ongoing portfolio investments, and macroeconomic conditions. Portfolio Investments Continue: Ongoing investments in platform and product capabilities, including integration of recent acquisitions, are expected to support long-term growth but may temper short-term profit margins. Stable Demand Environment: Management sees consistent demand from employers seeking to address shifting workforce demographics and retain talent, though some uncertainty remains due to broader economic factors. Sales and Upsell Strategy: The company's focus on expanding relationships with existing clients through upsells and cross-selling of new modules is expected to contribute meaningfully to revenue growth in future periods. Anne Samuel (JPMorgan): Asked about muted seasonality in cycles per utilizer for Q2; management cited guidance caution due to uncertainty, not a change in underlying trends. Jailendra Singh (Truist Securities): Questioned potential delays in employer RFPs for 2026 launches; management said there was no slowdown in decision-making or sales cycles. Michael Cherny (Leerink Partners): Inquired about which new women's health modules are seeing the most engagement; management pointed to higher initial uptake for the menopause product due to its broad applicability. David Michael (BTIG): Sought clarity on the impact of potential tariffs on specialty medications; management indicated minimal current impact and flexibility to mitigate any future cost increases. Sarah James (Cantor Fitzgerald): Asked for more detail on gross margin expansion and investment spending; management confirmed ongoing investments in platform and product capabilities totaling about $15 million for the year. In the coming quarters, the StockStory team will monitor (1) the progress and adoption rates of Progyny's new service modules, particularly in maternity and menopause support; (2) the pace and scale of new client acquisitions and upsell activity within the existing client base; and (3) the company's ability to manage investments while maintaining or expanding margins. We will also watch for any macroeconomic shifts or regulatory changes that could influence employer benefit decisions. Progyny currently trades at a forward P/E ratio of 14.2×. 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