PROGYNY Reports Strong Second Quarter Earnings Results for Fiscal Year 2023
August 22, 2023
☀️Earnings Overview
On August 3, 2023, PROGYNY ($NASDAQ:PGNY) reported their second quarter fiscal year 2023 earnings results for the period ending June 30, 2023. Total revenue saw an increase of 43.3%, amounting to USD 279.4 million, and net income grew by 70.9%, resulting in USD 15.0 million of income.
Price History
The company’s stock opened at $40.7 and closed at $40.4, representing a small decline of 1.1% from its previous closing price of $40.9. Overall, PROGYNY delivered a strong second quarter performance and is well positioned to continue its growth trajectory in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Progyny. More…
| Total Revenues | Net Income | Net Margin |
| 957.46 | 49.29 | 5.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Progyny. More…
| Operations | Investing | Financing |
| 169.38 | -45.84 | -7.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Progyny. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 681.54 | 212.04 | 4.97 |
Key Ratios Snapshot
Some of the financial key ratios for Progyny are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 52.1% | 92.7% | 4.7% |
| FCF Margin | ROE | ROA |
| 17.3% | 6.3% | 4.1% |
Analysis
GoodWhale recently conducted a financial analysis of PROGYNY. After looking at the results of our ‘Star Chart’, we can see that PROGYNY is strong in terms of its assets and growth but has a medium rating when it comes to profitability and a weak rating for dividends. It has a very high health score of 8/10, meaning it is highly capable of sustaining its current operations even in times of crisis. Based on our analysis, we classify PROGYNY as a ‘cheetah’, a company that has achieved high levels of revenue or earnings growth but is considered to be less stable due to lower profitability. This kind of company may be attractive to investors who are looking for high-growth investments with the potential for returns even in times of economic uncertainty. More…
Peers
Its competitors are Owlet Inc, ATI Physical Therapy Inc, NantHealth Inc.
– Owlet Inc ($NYSE:OWLT)
Owlet Inc is a privately held company that provides smart baby monitoring products and services. The company was founded in 2013 and is headquartered in Lehi, Utah. Owlet’s product line includes the Owlet Smart Sock, a wearable sensor that monitors a baby’s heart rate and oxygen levels; the Owlet Cam, a Wi-Fi connected camera that streams live video and audio to a smartphone; and the Owlet App, which allows parents to track their baby’s health data. Owlet has raised over $50 million in venture capital funding, and its products are available for purchase online and in select retail stores.
– ATI Physical Therapy Inc ($NYSE:ATIP)
ATI Physical Therapy Inc is a provider of physical therapy and rehabilitation services in the United States. The company operates through a network of over 300 physical therapy clinics in 27 states. ATI Physical Therapy Inc offers a variety of services, including physical therapy, occupational therapy, and speech-language pathology. The company also provides a range of rehabilitation services, such as sports medicine, workers’ compensation, and concussion management.
– NantHealth Inc ($NASDAQ:NH)
NantHealth Inc is a healthcare technology company that provides solutions to improve clinical outcomes and patient experience. The company has a market cap of $37.84 million and a return on equity of 14.38%. NantHealth’s solutions are used by healthcare providers to manage and coordinate care for patients. The company’s products and services include electronic health records, clinical decision support, and patient engagement.
Summary
Progyny Inc. has produced strong financial results for the second quarter of fiscal year 2023. Total revenue has increased by 43.3%, amounting to USD 279.4 million, while net income has seen a 70.9% improvement, reaching USD 15.0 million. This is a promising development for investors, as the company’s growth has outstripped industry expectations and given them confidence in their future prospects. With a strong financial performance, Progyny Inc. is a attractive opportunity for investment.
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