Progyny, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 27, 2024 at 04:01 pm EST
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Progyny, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 269.94 million compared to USD 214.32 million a year ago. Net income was USD 13.47 million compared to USD 3.41 million a year ago. Basic earnings per share from continuing operations was USD 0.14 compared to USD 0.04 a year ago. Diluted earnings per share from continuing operations was USD 0.13 compared to USD 0.03 a year ago.
For the full year, sales was USD 1,088.6 million compared to USD 786.91 million a year ago. Net income was USD 62.04 million compared to USD 30.36 million a year ago. Basic earnings per share from continuing operations was USD 0.65 compared to USD 0.33 a year ago. Diluted earnings per share from continuing operations was USD 0.62 compared to USD 0.3 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.