Progyny (PGNY) stock surged 16.04% in the pre-market session on Friday, driven by the company's impressive fourth-quarter 2024 earnings and optimistic guidance for continued growth.
The fertility benefits provider reported strong financial results for Q4 2024, with revenue increasing 11% year-over-year to $298.4 million, exceeding guidance. Adjusted EBITDA rose 10% to $47.5 million, and the company achieved a record quarterly ART cycle volume of over 15,800 cycles.
For the full year 2024, Progyny's revenue grew 7% to $1.17 billion, marking its ninth consecutive year of growth. The company's robust performance was fueled by several key factors:
While Progyny expects variability in member engagement and the loss of a large client (Amazon) in 2025, the company remains optimistic about its growth prospects. It plans to expand its global offerings and leverage strategic partnerships to drive further adoption of its comprehensive fertility solutions.
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