Progyny, Inc. Provides Earnings Guidance for the Third Quarter and Full Year 2023
August 03, 2023 at 04:03 pm EDT
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Progyny, Inc. Provided earnings guidance for the third quarter and full year 2023. For the quarter, the company expects Revenue is projected to be $268.0 million to $273.0 million, reflecting growth of 30% to 33% Net income is projected to be $9.5 million to $10.5 million, or $0.09 to $0.10 per diluted share, on the basis of approximately 101 million assumed weighted-average fully diluted-shares outstanding.
For the full year, the company expects Revenue is now projected to be $1,075 million to $1,090 million, reflecting growth of 37% to 39%. Net income is projected to be $51.2 million to $54.3 million, or $0.50 to $0.53 per diluted share, on the basis of approximately 102 million assumed weighted-average fully diluted-shares outstanding.
Progyny, Inc. is a benefit management company. The Company specializes in fertility and family building benefits solutions in the United States. The Companyâs clients include various employers across an array of industries. It has contracts to provide coverage to approximately 6.4 million employees and their partners (known as members). The Company provides its benefits through its proprietary Smart Cycle approach. Smart Cycles include the medical services required for a memberâs full course of treatment, including all necessary diagnostic testing and access to the technology. In addition to its fertility benefits solution, the Company offers an integrated pharmacy benefits solution, Progyny Rx, which can be added by its clients. Progyny Rx provides its members with access to the medications needed during their fertility treatment. It provides care management services, as well as medication administration training, pharmacy support services and continuing patient care advocate support.
PROGYNY, INC. 
