Progyny, Inc. (NASDAQ:PGNY) Q2 2022 Earnings Conference Call August 4, 2022 4:45 PM ET

Company Participants

James Hart - Vice President of Investor Relations

Peter Anevski - Chief Executive Officer

Michael Sturmer - President

Mark Livingston - Chief Financial Officer

Conference Call Participants

Anne Samuel - JPMorgan

Sarah James - Barclays

Stephanie Davis - SVB Securities

Dev Weerasuriya – Berenberg Capital Markets

Operator

Good afternoon, ladies and gentlemen, and welcome to today's Progyny Inc. Second Quarter 2022 Earnings Call. At this time, all participants have been placed on a listen-only mode. [Operator Instructions] It is now my pleasure to turn the floor over to your host, Vice President of Investor Relations, James Hart. Sir, the floor is yours.

James Hart

Thank you, Tom, and good afternoon, everyone. Welcome to our second quarter conference call. With me today are Peter Anevski, CEO of Progyny; Michael Sturmer, President; and Mark Livingston, CFO. We will begin with some prepared remarks before we open the call for your questions.

Before we begin, I'd like to remind you that today's call contains forward-looking statements including, but not limited to, statements about our financial outlook for both the third quarter and full-year 2022, including our expected utilization rates and mix; the impact of COVID-19, including variance on our business, clients, member activity and industry operations; our ability to acquire new clients and retain and upsell existing clients, our market opportunity, size and expectation of long-term growth; our plans for the expansion of our business, including expansion into other markets and of services offered; our business performance, industry outlook, strategy, future investments, plans and objectives and other nonhistorical statements as further described in our press release that was issued this afternoon.

These forward-looking statements are subject to certain risks, uncertainties, assumptions and other important factors, including those related to Progyny's growth, market opportunities, general economic and business conditions and the impact of laws and regulations, including laws and regulations, restricting reproductive rights. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Although we believe these expectations are reasonable, we undertake no obligation to revise any statement to reflect changes that occur after this call.

Descriptions of these risks and other important factors that could cause actual results to differ materially from these forward-looking statements are discussed in our periodic and current reports filed with the SEC, including in the section entitled Risk Factors in our most recent 10-K and 10-Q. During the call, we will also refer to non-GAAP financial measures, such as adjusted EBITDA, adjusted EBITDA margin, gross margin, excluding stock-based compensation and operating expenses, excluding stock-based compensation. Reconciliations with the most comparable GAAP measures are also available in the press release, which is available at investors.progyny.com.