Shares of Progyny (PGNY), a leading provider of fertility benefits solutions, surged 5.34% in after-hours trading on Friday, following the company's impressive fourth-quarter 2024 earnings report and optimistic guidance for continued growth.

The company reported a 10.6% year-over-year increase in revenue to $298.4 million for the quarter, surpassing analysts' expectations. Adjusted earnings per share (EPS) of $0.42 also significantly exceeded consensus estimates of $0.10, driven by operational efficiencies and higher gross profits.

Progyny's strong performance was fueled by several key factors, including the addition of over 80 new clients, expansion of service offerings in areas like maternity and menopause, and a 99% client retention rate reflecting high satisfaction. The company also continued to invest in digital assets and product development, further enhancing its comprehensive fertility solutions.