Progyny, Inc. ( (PGNY) ) has released its Q4 earnings. Here is a breakdown of the information Progyny, Inc. presented to its investors.
Progyny, Inc. is a leading provider of fertility, family building, and women’s health benefits solutions, offering comprehensive and inclusive services to employers, health plans, and benefit purchasers across the United States.
Progyny, Inc. has announced its financial results for the fourth quarter and full year of 2024, showcasing a robust performance with a 10.6% increase in quarterly revenue, reaching $298.4 million. The company also generated $52.2 million in operating cash flow for the quarter and issued financial guidance for 2025, marking its tenth consecutive year of revenue growth.
Key financial metrics for the fourth quarter include a gross profit of $63.4 million, an 11% increase from the previous year, and an adjusted EBITDA of $47.5 million, reflecting a 10% growth. Despite a slight decrease in net income to $10.5 million, the company maintained a strong adjusted earnings per diluted share of $0.42. For the full year, Progyny reported a revenue of $1.167 billion, a 7.2% increase, with adjusted EBITDA reaching $198.8 million.
Looking ahead, Progyny anticipates continued growth in 2025, projecting revenue between $1.175 billion and $1.225 billion, with net income expected to range from $45 million to $53.9 million. The company plans to expand its client base to over 530 clients, covering an estimated 6.7 million lives, while navigating potential variability in member engagement.
Progyny’s management remains optimistic about the company’s future, emphasizing its commitment to delivering value-based care and addressing the unique needs of its members. As the company enters its tenth year, it aims to sustain growth by enhancing client engagement and expanding its comprehensive benefits solutions.