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AI brief of an SEC Form 8-K · Progyny (PGNY)

Progyny cuts 2024 outlook as Q3 net income falls to $10.4 million

Mixed Impact 4 of 5 guidance Written later

Progyny reported third-quarter 2024 results on November 12, 2024. Revenue rose 2.0% to $286.6 million, but net income, gross margin and Adjusted EBITDA declined from a year earlier, and the company revised its full-year 2024 guidance lower. For shareholders, the revised outlook projects full-year 2024 revenue of $1.135 billion to $1.150 billion and net income of $49.9 million to $53.3 million, with the company citing unexpected variability in member treatment patterns.

Key points

  • Q3 2024 revenue rose 2.0% to $286.6 million, while net income fell to $10.4 million, or $0.11 per diluted share, from $15.9 million, or $0.16.
  • Gross margin fell to 20.7% from 22.3%, and Adjusted EBITDA was $46.5 million, down 7.1%.
  • Full-year 2024 revenue is now projected at $1.135 billion to $1.150 billion, and net income at $49.9 million to $53.3 million.
  • Fourth-quarter 2024 revenue is projected at $266.2 million to $281.2 million, or (1)% to 4% growth; a large client will not renew in 2025.

The filing

CompanyProgyny (PGNY)
Form8-K, current report
Filed with the SECNov 12, 2024, 4:13 PM ET
Accession number0001551306-24-000199

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 12, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.