Progyny reports Q2 diluted EPS 15c, consensus 10c

Reports Q2 revenue $279.4M, consensus $261.91M. Reports record quarterly operating cash flow of $76M. “We are pleased with our strong second quarter results, driven once again by healthy levels of member engagement that continue to reflect members’ desire to pursue the care they need in order to achieve their family building goals,” said CEO Pete Anevski. “According to the CDC, assisted reproductive technology (ART) cycles grew at a compounded annual growth rate of 10.5% over the past ten years, and a compounded annual growth rate of 11.8% over just the last two years alone, despite the effects of the global pandemic. We believe the accelerating growth in treatment volumes reflects both the increasing prevalence of infertility – which the World Health Organization recently reported is now affecting one out of every six people of reproductive age globally – as well as improved access to care, as employers increasingly look to provide the health benefits that will meet the medical needs and expectations of their workforce.”