Stock Alert: Progyny Shares Up 17% In Late Trade On Upbeat Q1

(RTTNews) - Shares of Progyny Inc. (PGNY) rose over 17% in after-market trading session on May 12, following the company's better-than-expected Q1 results.

The stock has been trading in the range of $13.29 - $36.50 for the past one year, and closed Tuesday's trade at $20.49, down 96 cents or 4.48%. PGNY gained $3.54 or 17.28% in the extended trading session.

The company's Q1 net income was $4.06 million or $0.04 per share compared to $2.52 million or $0.01 per share last year.

Revenue for the quarter soared to $81.0 million from $47.2 million generated a year ago.

Analysts polled by Thomson Reuters expected earnings of $0.02 per share and revenue of $71.8 million for the quarter. Analysts' estimate typically exclude certain special items.

"Though our first quarter results were negatively impacted by the disruption in providing care in March due to COVID-19, we are reporting solid revenue, net income and Adjusted EBITDA growth, as well as substantial operating and free cash flow, due to the strong start we had to the year," said Pete Anevski, Progyny's President, Chief Financial and Operating Officer. "We are looking forward to our clinics building back up to their pre-COVID patient volumes."