Progyny Q1 revenue up 7.6% to $278M; cuts FY revenue guidance to $1.23-1.27B

Progyny, Inc.

2024-Q1 EPS reported $0.17 revenue$278,078,000

Q1 revenue $278.1M (+7.6% YoY), net income $16.9M ($0.17 diluted EPS), adjusted EPS $0.39.
Adjusted EBITDA $50.3M (+8%), margin 18.1% vs 17.9% prior year period.
FY 2024 revenue guidance lowered to $1.23-1.27B (from prior $1.27-1.31B) citing lower March utilization.
Repurchased 723,577 shares for $26.4M in Q1; $32M remains under $100M buyback authorization.
Clients grew 19% YoY to 451; ART cycles increased 12.4% to 14,802.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Progyny, Inc. reported the three-month period ended March 31, 2024 results: revenue $278,078, net income $16,898, EPS $0.17.

Period: the three-month period ended March 31, 2024
Revenue: $278,078
Net income: $16,898
EPS: $0.17
Result: reported results

Exact text from the filing

of February,” said Mark Livingston, Progyny’s Chief Financial Officer. First Quarter 2024 Highlights: (unaudited; in thousands, except per share amounts) 1Q 2024 1Q 2023 Revenue $278,078 $258,394 Gross Profit $62,406 $58,640 Gross Margin 22.4% 22.7% Net Income $16,898 $17,678 Net Income per Diluted Share 1 $0.17 $0.18 Adjusted Earnings Per Diluted Share 2 $0.39

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Source: SEC EDGAR

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