NASDAQ$PGNY

Progyny Inc · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Progyny had a solid second quarter, with strong topline growth and ongoing margin expansion.

Progyny reported a record second-quarter revenue of $128.7 million, reflecting a 99% increase compared to the previous year. The company's net income was $18.7 million, or $0.19 per diluted share, a significant increase from the net loss of $1.1 million in the second quarter of 2020. The company had 182 clients as of June 30, 2021, as compared to 134 clients as of June 30, 2020.

  • Revenue was $128.7 million, a 99% increase as compared to the second quarter of 2020.
  • Fertility benefit services revenue was $92.3 million, a 99% increase from the second quarter of 2020.
  • Pharmacy benefit services revenue was $36.4 million, a 98% increase as compared to the second quarter of 2020.
  • Net income was $18.7 million, or $0.19 income per diluted share, compared to a net loss of $1.1 million in the second quarter of 2020.

Headline financials

Total Revenue

$129M

Previous: $64.6M+99.1%
EPS (adj)

$0.19

Previous: -$0.02+1050.0%
Total Clients

182

Previous: 134+35.8%
Utilization Rate - All

0.5%

Previous: 0.3%+54.3%
Utilization Rate - Female

0.5%

Previous: 0.3%+46.9%
Average Members

2.8M

No prior period
Capital Expenditures

-$799K

Previous: -$791K-1.0%
Free Cash Flow

$17.9M

Previous: -$2.6M+788.7%
Net Income

$18.7M

Previous: -$1.81M+1133.5%
Operating Income

$11.7M

Previous: -$1.82M+740.4%
Gross Profit

$29.6M

Previous: $12M+147.8%
Cash & Equivalents

$48.7M

Previous: $49.4M-1.3%
Total Assets

$312M

Previous: $178M+75.8%
Stock-Based Comp

$6.52M

Previous: $3.54M+84.0%

Revenue & EPS history

Progyny · Revenue · Quarterly

$129M

Q2 2021+99.1%vs Q2 2020
Beat estimate in 6 of 10 quarters(60%)
ActualEstimate

Revenue by segment

Progyny · $129M total across 2 segments · Q2 2021

  • Fertility Benefit Services
    $92.3M+99.4%
  • Pharmacy Benefit Services
    $36.4M+98.9%

Forward guidance

Progyny is providing financial guidance for the third quarter ending September 30, 2021, and the year ending December 31, 2021.

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 2021

Historical avgQ2 2021

-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

Earnings price reactions
QuarterReport dateReaction (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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