NASDAQ$PGNY
Progyny Inc · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Progyny demonstrated resilience with double-digit revenue growth and strong profit margins amidst the COVID-19 pandemic.
Progyny, Inc. reported a 15% increase in revenue for the second quarter of 2020, despite the negative impact of COVID-19 on treatment volumes. The company's revenue reached $64.6 million, driven by growth in both fertility and pharmacy benefit services. While the company experienced a net loss of $1.8 million, patient return to treatment was faster than expected, and the company issued revenue guidance of $323.0 to $340.0 million for the full year 2020.
- Revenue increased by 15% year-over-year to $64.6 million.
- Fertility benefit services revenue grew by 1.3% to $46.3 million.
- Pharmacy benefit services revenue surged by 75% to $18.3 million.
- Net loss was $1.8 million, a decrease of $3.3 million from the prior year period.
Headline financials
Revenue & EPS history
Progyny · Revenue · Quarterly
$64.6M
Revenue by segment
Progyny · $64.6M total across 2 segments · Q2 2020
- Fertility Benefit Services$46.3M+1.3%71.7%
- Pharmacy Benefit Services$18.3M+74.3%28.3%
Forward guidance
Progyny issued revenue guidance of $323.0 to $340.0 million for the full year 2020, reflecting growth of 41% to 48%. Revenue guidance of $88.0 to $95.0 million was issued for the third quarter of 2020, reflecting growth of 44% to 55%.
Tailwinds
- Full Year 2020 Revenue is projected to be $323.0 million to $340.0 million, reflecting growth of 41% to 48%
- Full Year 2020 Net income is projected to be $8.9 million to $13.1 million, or $0.09 to $0.13 per share
- Full Year 2020 Adjusted EBITDA is projected to be $24.0 million to $28.0 million
- Third Quarter of 2020 Revenue is projected to be $88.0 million to $95.0 million, reflecting growth of 44% to 55%
- Third Quarter of 2020 Net income is projected to be $3.6 million to $5.3 million, or $0.04 to $0.05 per share
Headwinds
- Member utilization remains at approximately 90% of the levels
- Potential additional negative impacts to utilization in those areas of the country that are being more severely affected by COVID-19 at this time.
- Some members will have trepidation about initiating treatment.
- COVID-19 cases in some parts of the country have risen to their highest levels since the pandemic began
- Impact of COVID-19 on financial outlook and member utilization rates
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2020
-1.1%
Avg return
Earnings day
-0.3%
Avg return
5 days after
-0.2%
Avg return
30 days after
38%
11 / 29 earnings
Positive
+26.4%
Q2 2022
Best reaction
-20.5%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.5% | +25.4% | +38.2% | |
| Q4 2025 | -20.5% | -20.0% | -22.4% | |
| Q3 2025 | +24.3% | +33.6% | +33.4% | |
| Q1 2025 | -9.7% | -6.5% | -7.2% | |
| Q4 2024 | -1.5% | -5.2% | -4.3% | |
| Q3 2024 | -18.5% | -19.3% | -12.9% | |
| Q2 2024 | -17.7% | -14.7% | -6.4% | |
| Q1 2024 | -14.4% | -14.6% | -14.2% | |
| Q4 2023 | -13.1% | -9.7% | -4.3% | |
| Q3 2023 | -4.3% | -2.1% | +17.8% | |
| Q2 2023 | +4.9% | -2.8% | -8.6% | |
| Q1 2023 | +9.3% | +5.9% | +16.8% | |
| Q4 2022 | +22.9% | +18.4% | +7.7% | |
| Q3 2022 | -2.6% | +2.0% | -13.8% | |
| Q2 2022 | +26.4% | +25.5% | +15.4% | |
| Q1 2022 | -7.1% | -15.6% | -23.1% | |
| Q4 2021 | +11.5% | +13.0% | +31.6% | |
| Q3 2021 | +2.5% | +5.8% | -22.2% | |
| Q2 2021 | -12.8% | -17.1% | +4.3% | |
| Q1 2021 | -3.2% | -8.7% | +18.4% | |
| Q4 2020 | -15.5% | -14.9% | -14.4% | |
| Q3 2020 | -0.3% | +7.0% | +38.7% | |
| Q2 2020 | +0.4% | +8.4% | -0.9% | |
| Q1 2019 | -2.4% | +4.8% | -13.7% | |
| Q1 2020 | +21.8% | +18.8% | +2.1% | |
| Q4 2017 | -3.7% | -6.3% | -8.3% | |
| Q4 2019 | -12.2% | -15.5% | -39.0% | |
| Q4 2018 | -0.2% | -5.0% | -7.0% | |
| Q3 2019 | +0.5% | +0.3% | -6.5% | |
| Q2 2019 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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