Progyny Q2 beats on adjusted EBITDA but cuts full-year guidance on lower revenue per member

Progyny, Inc.

2024-Q2 EPS reported $0.34 revenue$582,165,000

Q2 revenue $304.1M (+8.8% YoY), record Adj. EBITDA $54.5M (+15% YoY), margin 17.9%.
Net income $16.5M ($0.17 diluted EPS); Adj. EPS $0.43 vs $0.36 a year ago.
Board authorized $100M stock buyback; 6.8M shares repurchased YTD under prior programs.
Full-year 2024 revenue guidance revised to $1.165-1.20B (7-10% growth); Adj. EBITDA $199-209M.
Q3 2024 revenue guidance $290-303M; Adj. EBITDA $47.5-51.0M; citing lower revenue per utilizing member.

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