Progyny reports Q4 EPS 3c, consensus 1c

Reports Q4 revenue $214.3M, consensus $211.78M."In the fourth quarter, revenue grew 68% over the prior year period, gross margin expanded by 110 basis points, and we generated a record $51.5 million in operating cash flow. On a full year basis, we more than tripled our cash flow from operations as compared to the prior year," said Mark Livingston, Progyny’s Chief Financial Officer. "Additionally, our Adjusted EBITDA margin on incremental revenue in 2022 exceeded 20%, highlighting our high rate of margin capture on new revenue, even as we’ve continued to make investments to expand both the capabilities of our solutions and our go-to-market reach."