Fri, May 9, 8:40 PM (9 days ago)
**Progyny, Inc. (PGNY) Q1 2025 Financial Performance Summary** **Revenue & Profit Margins:** - **Revenue:** $324.0 million, up 17% YoY. - **Gross Profit:** $75.8 million, up 21% YoY. - **Gross Margin:** 23.4%, up 100 basis points YoY. - **Net Income:** $15.1 million, down 11% YoY. **Operating Expenses:** - **Sales & Marketing:** $17.8 million, up 15% YoY. - **General & Administrative:** $33.8 million, up 19% YoY. - **Total Operating Expenses:** $51.6 million, up 18% YoY. **Cash Flow:** - **Operating Cash Flow:** $49.8 million, up 94% YoY. - **Investing Cash Flow:** -$94.6 million, down 495% YoY. - **Financing Cash Flow:** -$3.3 million, up 88% YoY. **Earnings Changes:** - **EPS (Basic):** $0.18, unchanged YoY. - **EPS (Diluted):** $0.17, unchanged YoY. **Quarterly Performance Discussion:** - Revenue growth driven by increased client base and covered lives. - Gross margin improvement due to ongoing efficiencies in care management services. - Operating expenses increased due to higher personnel-related costs and stock-based compensation. - Operating cash flow significantly improved due to higher net income and changes in operating assets and liabilities. - Investing cash flow negatively impacted by higher investments in marketable securities and business acquisitions. - Financing cash flow negatively impacted by payments for employee taxes related to equity awards. **Trends & Uncertainties:** - Positive trends include revenue growth, gross margin improvement, and increased client base. - Uncertainties include competitive pressures, regulatory changes, and potential disruptions in the supply chain for fertility medications. **Future Operations Impact:** - Progyny plans to continue investing in sales and marketing, technology infrastructure, and general administration to support growth and innovation. - The company expects to maintain profitability and generate positive cash flow from operations. - Potential risks include competitive pressures, regulatory changes, and supply chain disruptions.