Progyny to discuss expectations for quarter, year at conference

Progyny announced that the Company is participating in the 41st Annual JP Morgan Healthcare Conference, where it expects to discuss its expectations for the quarter and year ended December 31, 2022. "We’re extremely pleased to see 2022 concluding on a strong note, with healthy utilization across our book of business, including those clients who launched their Progyny benefit in the latter part of the year. Accordingly, we now expect that our fourth quarter and full year 2022 revenue, net income and Adjusted EBITDA will be at or near the high-end of the financial guidance that we provided in our press release on November 28, 2022. In addition, we also expect to report record fourth quarter operating cash flow of approximately $50 million, or approximately $79 million for the full year, reflecting the high capital efficiency in our model," said Pete Anevski, Progyny’s Chief Executive Officer. "As we look into 2023, substantially all of the new clients and covered lives that we expect for this year have now already launched, and we continue to expect that our more than 370 clients will reflect 5.4 million covered lives. We also expect that our 2023 selling season activities will begin, as usual, around March, but the early activity we’re seeing from prospective clients is very encouraging and maintains our momentum from the 2022 season, where we won a record number of new clients and more than a quarter of our existing clients made the decision to expand their relationship with Progyny, even against the backdrop of the current macroeconomic environment. Taken together, we believe this reinforces our strong conviction that family building benefits continue to be a top priority for employers in 2023, and that Progyny is the brand of choice for employers looking to provide these benefits."