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Mar 31, 2022
Progyny Q1 2022 Earnings Report
Progyny reported record revenue, gross profit, and Adjusted EBITDA, successfully launching with a high number of new clients and covered lives.
Key Takeaways
Progyny's Q1 2022 results showed a strong start to the year with record revenue of $172.2 million, a 41% increase year-over-year. The company also reported growth in gross profit and Adjusted EBITDA, driven by higher revenue and operational efficiencies. They are raising the lower end of full year 2022 guidance ranges.
Revenue was $172.2 million, a 41% increase compared to Q1 2021.
Fertility benefit services revenue increased by 25% to $110.9 million.
Pharmacy benefit services revenue increased by 84% to $61.3 million.
The company had 264 clients as of March 31, 2022, compared to 179 clients as of March 31, 2021.
Progyny
Progyny
Progyny Revenue by Segment
Revenue by Segment
Fertility Benefit Services Revenue
CapyFin.comPharmacy Benefit Services Revenue
CapyFin.com Forward Guidance
Progyny is narrowing its guidance ranges by raising the lower end of its full year expectations. Revenue is projected to be $188.0 million to $193.0 million for the second quarter, reflecting growth of 46% to 50%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income