Progyny Inc (NASDAQ: PGNY) has been one of the best performing, of the more recent IPOs. The company went public in October at a price of $13, and as of Friday’s close, it was trading at $25.99.

Two weeks ago, the company released its Q3 results, and they reflected a significant improvement compared to a similar period in the last financial year. In the results, the company announced that, it revenues stood at $61.2 million representing an increase of 120%, when compared to a similar period in the last financial year. 

The company noted that, the increase in revenues was mainly driven by is fertility benefit services, and its pharmacy benefit services business. The company noted that, revenues from its fertility services business increased by 90% from $26.4 million in the last financial year, to $50 million in the current financial year. The company also announced that, the Pharmacy benefit services revenues stood at $11.2 million, up from $1.4 million in the last financial year. Gross profit rose to $12.3 million, or an increase of 144%, from a similar period in the last financial year. Gross margins also increased by 190 basis points to hit 20.1%.

However, the net loss per share increased from an EPS loss to $0.20 to a loss of $1.10. The company attributed this to a non-cash charge that was linked to an increased valuation of the company’s convertible preferred stock. Nonetheless, the company’s EBITDA rose by 710% to hit $5.5 million when compared to a similar period in the last financial year.

Looking at its price in Friday’s session, the company was trading between a low of $25.20 and a high of $26.39 before closing the day at $25.99. Volumes in the day stood at 671,108.

About Progyny Inc

Progyny Inc specializes in fertility and family benefit solutions. The company is headquartered in New York, New York.