secwatch.observer — SEC 8-K summary
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Issuer:     Progyny, Inc. (PGNY)
CIK:        0001551306
Form:       8-K
Filed at:   2024-11-12T23:59:59+00:00
Accession:  0001551306-24-000199
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Progyny Q3 revenue up 2% to $286.6M, net income falls 34% to $10.4M; cuts FY2024 guidance
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- Revenue $286.6M (+2% YoY); net income $10.4M ($0.11 diluted EPS) vs $15.9M ($0.16) in Q3 2023.
- Adjusted EBITDA $46.5M (-7.1% YoY); margin 16.2% vs 17.8% a year ago.
- Full-year 2024 revenue guidance lowered to $1.135-1.150B; adjusted EBITDA guidance $189-194M.
- New sales season adds 80+ clients, 1.1M new covered lives; also selected by two health plans as preferred partner.
- Q3 utilization rate lower than expected; members took longer to progress, consuming fewer treatments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1551306/000155130624000199/0001551306-24-000199-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1551306/000155130624000199/pgny-20241112.htm
  HTML page:      https://secwatch.observer/filing/0001551306-24-000199

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