✅   Fertility benefits giant Progyny loses client that accounted for 13% of its revenue

tech

Progyny lost a big client that made up around 670,000 members, the fertility benefits company said in a securities filing Wednesday, though analysts remain optimistic about the space. The unnamed client, which comprised 13% of Progyny’s 2023 revenue, will stop using Progyny by Jan. 1, 2025, and said they didn’t have any issues with member satisfaction, outcomes or quality over its years of using Progyny’s services, according to the filing. Progyny doesn’t expect the contract termination to negatively affect its financial results for the rest of this year and expects an increase in its overall number of members next year compared to this year, it said in the filing.

Endpoints     Sep 19, 2024