communicating through Pete's. is continue Pete, direction or work in similar to the some at conferences, pleased David, this an I'm time our call on It's the for and sure Thank setting to either approach be business. I, closely taking event. those exciting upcoming you, of with other new of my company. will investors today, And the you meeting you'll that such to very the in David. role. one forward on find I to I'm look of very
our have once we with discussed that impact for results. slightly was recover, pandemic. Turning I'll to on to were expected begin activity quarter, has member care, or able our the lower eventually patients rapidly results would how since return the utilization Last quarter. this to level at if that disruption from to stabilizing largest a our normally we the even the than saw see not we
or across our child of saw discussed stay-at-home code open significant are clinics have day-to- relatively how we majority activity full pursue desire worsening. level were these limit demonstrated may We day understand our to a they are the The the orders, and nature our remained affected clearly consistent of their who members The by those high need is very that their where it. and areas rates and providing care urgent treatments. members services This of otherwise strong, of not also even in country members a range when will movements. infection
the XX% our modestly, normal exited second the third that up compared we saw of levels we to the approximately quarter. ticked quarter, as During as utilization
third which for and of all last As rates respective members quarter X.XX% year. slightly X.XX% for quarter the from a all was the members utilization our point point utilizers, only for X.XX% utilization for down and the third female result, in female was X.XX% for utilizers,
in XX, of Average clients, from year. As we September increase which XX for members ago were a million sequential of year and clients X.X had XXX,XXX period, compares quarter the time same compared with X.X approximately QX. XXX at to third last million, which reflects the the
year. of to there XX% With last our were base the the member growth significant an the XXXX to quarter, relative compared as increase quarter year, third ART last Cycles in in
quarter quarter about the pharmacy to to clients a The Medical in highest from was XX% the by $XX.X have revenue in volumes, in million $XX.X our as more the have growing number compares XX% quarter an this to clients result Progyny the Rx is growth XX% a increase year. and last $XX.X increase XX% today ago our This driven third Pharmacy $XX.X revenue in the the of compared lives, increased the period. in in our who covered doubled in Progyny $XX year. ago. of which quarter Approximately as recovery year this ago, year in benefit covered clients increase ever. lives. of than primarily million during million from revenue year to well in Given as third the revenue from the million million revenue to as grew Rx, quarterly a quarter $XX.X last million
reflects revenue Turning increase percentage profit XX% model that million quarter now now operating prior from The in levels to largely quarter the of have recovered. of leverage year this gross utilization a the this as profit gross our profitability, our increased in $XX.X period.
management with With economies from are to and partners scale across care revenue, dispensing the continue yield our to and benefiting are able contractual pharmacy terms functions. higher of our favorable manufacturing we
go reported quarter, As period. onboard on the a Typically, our prior third margin the the quarter, XXX significant increased margins the QX, we in January higher see what result, manage in from are newest gross X. points programs the successfully XX.X% in than XX.X% this their in basis clients fourth that up resources are necessary step generally quarter with live year of that member we when given our our base to
We timing onboard drop this QX. in expect the margin brought were QX of year be modest, that will new the hires sequential during on, given
a operating last quarter revenue, was from expenses, marketing reported we sales quarter in improvement this X.X% our third year. across Looking of XXX basis the point and X.X% the
Given see stream. revenue year-to-year, persistency in we provides XXX% client virtually our model within a and that each our recurring effectively client what utilization retention, the is
new in for benefit revenue we the compensation as a in reported our being operating one-time a company, leverage the year, connection client result, million majority with revenue million X.X% a expenses, the their is ago vendor includes functions inclusive was up in incurred well a year a acquisition with step of legal full our first of a launches of compared marketing to period of in quarter arbitration. increase related As client first costs year significant benefit. variable this incremental our of the and G&A and XX.X% sales stock-compensation in as as in X.X associated expenses of public as sales $X.X
prior doubled efficiencies $XX.X operating an of year across XXX margin And increase from million. EBITDA of adjusted basis nearly EBITDA for quarter the reflects the realized to adjusted the period. year the prior our XX.X% points the Given over business,
is as income absence basic adjustment net expense due improved in convertible in well warrant that X.X valuation million this efficiencies converted incremental as quarter incremental prior-year up preferred adjusted indicator giving average after diluted with revenues. in margin higher $X.XX and and I related primarily with expenses connection the upper-end This the year We high the due a previously loss higher our margin is revenue the was share, first rate of was Net million reported current related where revenue As in to of period significant income in the were capable the in of per Adjusted attributable discussed. a operating stockholders is XX.X% on million moving. as EBITDA to common weighted our on in our million the period. from quarter, compared XX to that loss IPO, of per one-time period. Net period was stock this for was year a $X.X income margin reflecting a to incremental the business outstanding. to warrants public on the of on effect share improvement basis prior capture company. the shares to guidance, exceeded diluted the useful to the as full of $X.X step The revenue, believe $X.XX forward the EBITDA
and our to now cash Turning balance flow. sheet
As increase of million of million an of XX. September $XX.X from $XXX cash securities, XX, of we balance and cash had June as marketable our
September was of debt. as we've addition, The $XXX.X flow $XX.X cash a quarterly prior is million working period. position an million the $X.X to XX, And million, operating June compares XX. In in increase from most the $X.X have which of and reflects our quarter our no ever positive year increase million capital cash in generated of in we
from to the securities With as have cash pandemic. the any our we continue well through cash substantial that our flow, COVID-XX confidence well on hand, as to manage - and our disruptions as amount ongoing of temporary in result full ability as could positive
fourth guidance year quarter $XX.X On that third member full reflecting of are for stays $XXX.X generally million exited between Turning we and to assumes how between the the now quarter that we quarter. activity XX% XX%. projecting our fourth million, consistent the and to XXXX, revenue basis, expectations with growth
EBITDA, $X of million $X.X $XX.X million adjusted between net to expect income For $X.X million, with along million. we to
growth our the range a increases representing to revenue at then between year $XXX to $XXX of full Looking XX%. million XX% XXXX, and guidance million,
For $XX million income year will full to expect EBITDA, million, that we $XX.X and net be million $XX.X to between million. $XX.X adjusted between
turn call Pete. Let the to me now over Pete?
