Progyny Q1 revenue $172.2M (+41%); net income $5.0M; raises FY22 guidance lower end

Progyny, Inc.

2022-Q1 EPS reported $0.05 revenue$172,217,000

Revenue $172.2M (+41% YoY); gross profit $32.9M (+14%); net income $5.0M ($0.05 EPS) vs $15.2M prior year.
Adjusted EBITDA $24.8M (+44%); margin 14.4% vs 14.1%.
Clients grew to 264 from 179 a year ago; avg members 3.93M.
Full-year revenue guidance narrowed to $735M-$775M; Q2 guidance $188M-$193M (46-50% growth).
Cash used by ops $11.3M vs +$0.5M; cash/securities $105.7M, no debt.

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