Progyny falls as big client plans to terminate services agreement
19/09/2024 10:01
** Shares of fertility benefits management firm Progyny Inc
PGNY.O fall 23.53% to $18.69 premarket
** Co was recently notified by a significant client that has
elected to exercise a 90-day option to terminate its services
agreement, effective as of Jan 1, 2025 - filing
** Says there have not been any disputes or issues of
concern with the client during the course of service
** The client represents ~670,000 members, as of June 30,
2024, comprising 12% co's revenue for the six-month period ended
June 30, 2024
** Up to last close, stock down ~34% YTD
(Reporting by Sriparna Roy in Bengaluru)
((Sriparna.Roy@thomsonreuters.com;))