Progyny, Inc. (NASDAQ:PGNY) Q1 2022 Earnings Call Transcript May 5, 2022 5:00 PM ET

Company Representatives

Peter Anevski - Chief Executive Officer

Michael Sturmer - President

Mark Livingston - Chief Financial Officer

James Hart - Vice President of Investor Relations

Conference Call Participants

Anne Samuel - JPMorgan

Michael Cherny - Bank of America

Sarah James - Barclays

Glen Santangelo - Jefferies

Stephanie Davis - SVB Securities

Dev Weerasuriya - Berenberg

Operator

Good afternoon, ladies and gentlemen, and welcome to the Progyny Inc. First Quarter 2022 Earnings Conference Call. At this time, all participants have been placed on a listen-only mode and the floor will be opened for questions and comments after the presentation.

It is now my pleasure to turn the floor over to your host, James Hart, Vice President of Investor Relations. James, the floor is yours.

James Hart

Thank you, Paul and good afternoon everyone. Welcome to our first 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 second quarter and full year of 2022, including our expected utilization rates and mix, the impact of COVID-19 including variants 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 the services offered; our business performance, industry outlook, strategy, future investments, plans and objectives and other non-historical 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.