Progyny Q3 rev $280.9M (+37% YoY), net income $15.9M; raises FY guidance

Progyny, Inc.

2023-Q3 EPS reported $0.48 revenue$280,891,000

Record quarterly revenue $280.9M, up 37% YoY; net income $15.9M ($0.16 diluted EPS).
Adjusted EBITDA $50.0M (+43% YoY), margin 17.8% vs 17.0% prior year.
Added 1.3M new covered lives in selling season; clients at 392 vs 282 a year ago; ~100% retention.
Raised FY 2023 revenue guidance to $1,087-1,095M and Adj. EBITDA to $186-188.5M.
First federal government plan win with ~300k covered lives; expects lower margin from this population in 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Progyny, Inc. reported three-month period ended September 30, 2023 results: revenue $280,891, net income $15,898, EPS $0.16. Guidance raised.

Period: three-month period ended September 30, 2023
Revenue: $280,891
Net income: $15,898
EPS: $0.16
Guidance: raised
Result: reported results

Exact text from the filing

said Mark Livingston, Progyny’s Chief Financial Officer. Third Quarter 2023 Highlights: (unaudited; in thousands, except per share amounts) 3Q 2023 3Q 2022 Revenue $280,891 $205,371 Gross Profit $62,624 $45,995 Gross Margin 22.3% 22.4% Net Income $15,898 $13,211 Net Income per Diluted Share 1 $0.16 $0.13 Adjusted EBITDA 2 $50,019 $34,957 Adjusted

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Source: SEC EDGAR

accession 0001551306-23-000093

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