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Dec 31, 2020
Progyny Q4 2020 Earnings Report
Progyny had a strong fourth quarter, exceeding $100 million in quarterly revenue for the first time and concluding a record year.
Key Takeaways
Progyny reported a strong fourth quarter with revenue exceeding $100 million for the first time. The company successfully managed the impacts of the COVID-19 pandemic, achieving record levels of revenue, profitability, and operating cash flow.
Revenue was $100.3 million, a 54% increase compared to Q4 2019.
Net income was $39.1 million, or $0.39 income per diluted share.
Adjusted EBITDA was $11.9 million, an increase of $8.0 million from Q4 2019.
The company had 135 clients as of December 31, 2020, compared to 87 clients as of December 31, 2019.
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 year ended December 31, 2021, and the three-month period ending March 31, 2021.
Positive Outlook
- Revenue is projected to be $520.0 million to $540.0 million, reflecting growth of 51% to 57%.
- Net income is projected to be $30.1 million to $37.4 million, or $0.29 to $0.36 per diluted share, on the basis of approximately 103 million assumed weighted-average fully diluted-shares outstanding
- Adjusted EBITDA is projected to be $63.0 million to $68.0 million
- Revenue is projected to be $117.0 million to $122.0 million, reflecting growth of 44% to 51%
- Net income is projected to be $7.5 million to $9.4 million, or $0.07 to $0.09 per diluted share, on the basis of approximately 101 million assumed weighted-average fully diluted-shares outstanding
Challenges Ahead
- Adjusted EBITDA is projected to be $14.0 million to $15.5 million
- The forward-looking statements involve known and unknown risks, uncertainties, and other important factors.
- The actual future results could differ materially from what is expected.
- The company assumes no obligation to update these forward-looking statements publicly, or to update the reasons
- Estimates for stock-based compensation and provision for income taxes include assumptions regarding company share price and the amount and timing of equity exercises, which may differ from actual results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income