Shares of Progyny (PGNY) surged over 22% in after-hours trading on Thursday, following the release of the company's impressive fourth quarter 2024 financial results and optimistic guidance for 2025.
The fertility benefits provider reported Q4 revenue of $298.4 million, beating analyst estimates of $276.7 million and reflecting a 10.6% increase from the prior year. For the full year 2024, Progyny posted revenue of $1.17 billion, up 7.2% year-over-year.
Progyny's adjusted earnings per diluted share for Q4 came in at $0.42, significantly outpacing the $0.10 consensus estimate. Full year 2024 adjusted EPS was $1.64, compared to $1.40 in 2023.
Looking ahead, the company projects Q1 2025 revenue to range between $300 million and $318 million, reflecting growth of 8% to 14%. For the full year 2025, Progyny forecasts revenue of $1.175 billion to $1.225 billion, up 1% to 5% from 2024. Adjusted EBITDA guidance was set at $53 million to $57 million for Q1 and $188 million to $201 million for the full year.
Progyny's strong performance and upbeat outlook were driven by continued growth in its client base, covered lives, and utilization of its fertility benefits services. The company remains well-positioned to capitalize on the growing demand for comprehensive fertility solutions.
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