Progyny, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 05, 2022 at 04:18 pm EDT
Share
Progyny, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was USD 172.22 million compared to USD 122.13 million a year ago. Net income was USD 4.97 million compared to USD 15.17 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to USD 0.17 a year ago. Diluted earnings per share from continuing operations was USD 0.05 compared to USD 0.15 a year ago.
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.