Progyny (PGNY US): Stellar Q4 Results; 2022 Guidance Reiterated on the Back of Business Recovery

353 Views05 Mar 2022 00:03

SUMMARY

Progyny Inc (PGNY US) shares are bouncing off their lows following strong Q4 results and guidance reiteration. Continued stellar growth amid large and underpenetrated TAM call for strong upside potential.
After impacted by Omicron in December, business activity has rapidly recovered to normal levels this year. Management has guided for 50% y/y revenue growth for 2022.
For 2022, Progyny added 85 new clients, with 1.2 million covered lives, which will be its long-term growth driver. The company is well-positioned for 70% revenue CAGR during 2021–2024.

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