Progyny Isn't Sure Why Its Members Aren't Pursuing More Fertility Care -- Market Talk

Dow Jones11-14

1308 ET - Progyny, which provides fertility care insurance coverage for employers, says people are still pursuing care at clinics, but they are taking longer to go from consultation to treatment. This slowdown contributed to a weaker-than-expected 3Q. "Once people are progressing, we're seeing them consume fewer average stimulation-related assisted reproductive technology cycles than we've historically seen, specifically for freeze-alls and egg freezing," CEO Pete Anevski says on a call with analysts. The reason for the slowdown isn't immediately clear, he adds, citing that members haven't been maxing out their benefits and clinics don't have backlogs. Currently, it is too early to tell if this trend will continue, causing the company to temper its FY and 4Q outlooks out of caution, Anevski says. Shares fall 19%. (connor.hart@wsj.com)

(END) Dow Jones Newswires

November 13, 2024 13:08 ET (18:08 GMT)

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This slowdown contributed to a weaker-than-expected 3Q. \"Once people are progressing, we're seeing them consume fewer average stimulation-related assisted reproductive technology cycles than we've historically seen, specifically for freeze-alls and egg freezing,\" CEO Pete Anevski says on a call with analysts. The reason for the slowdown isn't immediately clear, he adds, citing that members haven't been maxing out their benefits and clinics don't have backlogs. Currently, it is too early to tell if this trend will continue, causing the company to temper its FY and 4Q outlooks out of caution, Anevski says. Shares fall 19%. 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This slowdown contributed to a weaker-than-expected 3Q. \"Once people are progressing, we're seeing them consume fewer average stimulation-related assisted reproductive technology cycles than we've historically seen, specifically for freeze-alls and egg freezing,\" CEO Pete Anevski says on a call with analysts. The reason for the slowdown isn't immediately clear, he adds, citing that members haven't been maxing out their benefits and clinics don't have backlogs. Currently, it is too early to tell if this trend will continue, causing the company to temper its FY and 4Q outlooks out of caution, Anevski says. Shares fall 19%. 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