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Progyny Inc. Company profile

About Progyny Inc

Progyny, Inc. is a benefits management company. The Company specializes in fertility and family building benefits solutions in the United States. The Company provides its benefit through its Smart Cycle approach. The Smart Cycle includes medical services required for a member’s full course of treatment, including all necessary diagnostic testing and access to the technology. In addition, to its fertility benefits solution, it offers an integrated pharmacy benefits solution, Progyny Rx, which is added by its clients. Progyny Rx provides its members with access to the medications needed during their fertility treatment. As part of this solution, the Company provide care management services, which include its formulary plan design, simplified authorization, assistance with prescription fulfillment and timely delivery of the medications by its network of specialty pharmacies, as well as medication administration training, pharmacy support services and patient care advocates.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Progyny Inc revenues increased 45% to $500.6M. Net income increased 42% to $65.8M. Revenues reflect Fertility benefits services revenue segment increase of 40% to $355.6M, Pharmacy benefits services revenue segment increase of 59% to $145M. Net income was partially offset by Stock-based Compensation in GA increase from $7.7M to $19.3M (expense).