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Mar 31, 2021
Progyny Q1 2021 Earnings Report
Progyny had a solid first quarter with record revenue, reflecting strong utilization and expansion of client base and covered lives. Profitability and margins expanded due to operational efficiencies and favorable comparisons to the prior year period.
Key Takeaways
Progyny reported a record first quarter revenue of $122.1 million, a 51% increase compared to the first quarter of 2020. Net income increased by 318% to $15.2 million, or $0.15 income per diluted share. The company issued revenue guidance of $126.0 to $131.0 million for the second quarter of 2021, reflecting growth of 95% to 103%.
Revenue was $122.1 million, a 51% increase compared to Q1 2020.
Fertility benefit services revenue was $88.9 million, a 50% increase from Q1 2020.
Pharmacy benefit services revenue was $33.3 million, a 54% increase compared to Q1 2020.
Net income was $15.2 million, an increase of 318% from Q1 2020.
Progyny
Progyny
Progyny Revenue by Segment
Revenue by Segment
Fertility Benefit Services Revenue
CapyFin.comPharmacy Benefit Services Revenue
CapyFin.com Forward Guidance
The company is providing the following financial guidance for the second quarter of 2021: Revenue is projected to be $126.0 million to $131.0 million, reflecting growth of 95% to 103%. Net income is projected to be $6.5 million to $8.8 million, or $0.06 to $0.09 per diluted share. Adjusted EBITDA is projected to be $17.5 million to $19.0 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income