Progyny Inc
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
PGNY$36.43+1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| OPERATING ACTIVITIES | |||
| Net income | $54,336 | $62,037 | $30,358 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Deferred tax (benefit) expense | (10,456) | 3,745 | (6,615) |
| Non-cash interest income | — | (34) | — |
| Depreciation and amortization | 3,175 | 2,281 | 1,601 |
| Loss on disposal of property and equipment | 1,414 | — | — |
| Stock-based compensation expense | 128,130 | 122,611 | 100,748 |
| Bad debt expense | 16,396 | 19,934 | 13,794 |
| Net accretion of discounts on marketable securities | (2,115) | (4,328) | — |
| Foreign currency exchange rate loss | — | (8) | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (9,874) | (21,738) | (119,304) |
| Prepaid expenses and other current assets | 18,018 | (22,930) | 57 |
| Accounts payable | (30,268) | 16,235 | 47,689 |
| Accrued expenses and other current liabilities | 9,924 | 10,361 | 13,147 |
| Other noncurrent assets and liabilities | 425 | 648 | (1,080) |
| Net cash provided by operating activities | 179,105 | 188,814 | 80,395 |
| INVESTING ACTIVITIES | |||
| Purchase of property and equipment, net | (5,405) | (3,644) | (3,241) |
| Purchase of marketable securities | (170,339) | (429,694) | (163,334) |
| Sale of marketable securities | 376,840 | 232,813 | 122,709 |
| Acquisition of business, net of cash acquired | (5,304) | — | — |
| Net cash provided (used in) by investing activities | 195,792 | (200,525) | (43,866) |
| FINANCING ACTIVITIES | |||
| Repurchase of common stock | (300,278) | — | — |
| Proceeds from exercise of stock options | 1,099 | 4,850 | 3,073 |
| Payment of employee taxes related to equity awards | (12,001) | (17,200) | (12,089) |
| Proceeds from contributions to employee stock purchase plan | 1,300 | 1,278 | 1,152 |
| Net cash used in financing activities | (309,880) | (11,072) | (7,864) |
| Effect of exchange rate changes on cash and cash equivalents | 1 | 1 | — |
| Net increase (decrease) in cash and cash equivalents | 65,018 | (22,782) | 28,665 |
| Cash and cash equivalents, beginning of year | 97,296 | 120,078 | 91,413 |
| Cash and cash equivalents, end of year | $162,314 | $97,296 | $120,078 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |||
| Cash paid for income taxes, net of refunds received | $40,449 | $6,181 | $133 |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES | |||
| Additions of property and equipment, net included in accounts payable and accrued expenses | $249 | $421 | $636 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.