Progyny secures $200 million revolving credit facility, expects Q2 results above guidance

NEW YORK - Progyny, Inc. (NASDAQ:PGNY), a provider of women’s health and family building solutions, announced Tuesday it has entered into a $200 million revolving credit facility set to mature on July 1, 2030. The company, which according to InvestingPro data holds more cash than debt and maintains a healthy current ratio of 2.39, also indicated that its second quarter financial results are expected to exceed previously provided guidance.

The five-year facility, which is currently undrawn, is intended to enhance the company’s operational and financial flexibility beyond its existing cash flow generation capabilities.

"At this stage of our growth, entering into a facility is an appropriate next step to further enhance our strong financial profile and extend our market leadership," said Pete Anevski, Chief Executive Officer of Progyny, in a press release statement.

The company stated it has no immediate plans to utilize the credit facility. Progyny’s capital allocation priorities remain unchanged, including potential stock repurchases, product portfolio expansion, investments in new distribution channels, and select acquisitions.

Regarding its financial outlook, Progyny reported that second quarter member activity has been more favorable than anticipated. The company, which generated $1.21 billion in revenue over the last twelve months, now expects revenue, Adjusted net income, and Adjusted EBITDA for the quarter ending June 30, 2025, to slightly exceed the guidance ranges provided during its May earnings call. This positive outlook aligns with InvestingPro data showing multiple analysts revising their earnings estimates upward for the upcoming period.

Progyny plans to report its complete second quarter financial results after market close on August 7, 2025, followed by a conference call at 4:45 p.m. Eastern Time.

The company, headquartered in New York City, specializes in fertility and women’s health solutions for employers, health plans and benefit purchasers. With a market capitalization of $1.84 billion, Progyny has demonstrated strong execution in this growing market segment, though InvestingPro analysis indicates the stock is currently trading at premium valuation multiples relative to peers.

In other recent news, Progyny, Inc. reported its first-quarter 2025 earnings, showcasing impressive financial results that exceeded analyst expectations. The company achieved an adjusted earnings per share of $0.48, significantly surpassing the forecasted $0.18, with revenue reaching $324 million, marking a 16.5% increase year-over-year. This financial success was accompanied by an expansion in gross margin from 22.4% to 23.4%, and a nearly doubled operating cash flow of $50 million compared to the previous year. Additionally, Progyny expanded its women’s health services to include pelvic floor therapy, partnering with Origin and Hinge Health to offer both in-person and digital care options.

In another development, Progyny appointed Elizabeth Bierbower to its Board of Directors, highlighting her extensive leadership experience in the healthcare sector as a strategic asset for the company’s growth. Furthermore, during its 2025 Annual Meeting of Stockholders, Progyny’s shareholders elected Class III directors and ratified Ernst & Young LLP as the independent registered public accounting firm. However, a proposal for executive compensation was not approved by the majority.

The company also enhanced its Medical Advisory Board with the addition of Dr. Gloria Richard-Davis and Dr. Whitney Booker, both bringing significant expertise in women’s health. These appointments are part of Progyny’s ongoing efforts to strengthen its position in the women’s health sector. These recent developments reflect Progyny’s commitment to expanding its product offerings and maintaining its leadership in the healthcare industry.

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