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Sep 30, 2020
Progyny Q3 2020 Earnings Report
Progyny had a strong third quarter, with record quarterly revenues and profitability.
Key Takeaways
Progyny announced a record third quarter revenue of $98.9 million, a 62% increase compared to the prior year period. The company also raised revenue guidance to $340.0 to $345.0 million for full year 2020, reflecting growth of 48% to 50%, and affirmed preliminary view of a minimum of $525 million in 2021 revenue.
Revenue was $98.9 million, a 62% increase as compared to the prior year period.
Fertility benefit services revenue was $73.1 million, a 46% increase from the prior year period.
Pharmacy benefit services revenue was $25.8 million, a 131% increase as compared to the prior year period.
The company had 135 clients as of September 30, 2020, compared to 84 clients in the prior year period.
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 financial guidance for the full year and three-month period ending December 31, 2020.
Positive Outlook
- Revenue is projected to be $340.0 million to $345.0 million, reflecting growth of 48% to 50%
- Net income is projected to be $12.7 million to $14.2 million, or $0.13 to $0.14 per share
- Adjusted EBITDA is projected to be $29.7 million to $31.0 million
- Revenue is projected to be $95.4 million to $100.4 million, reflecting growth of 47% to 54%
- Net income is projected to be $5.1 million to $6.6 million, or $0.05 to $0.07 per share
Revenue & Expenses
Visualization of income flow from segment revenue to net income