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A baby in a hospital in Birmingham, England. Photo: Christopher Furlong/Getty Images

Progyny is ready to go public, and unlike a lot of other health care startups that have slid into the public markets, the fertility benefits company is already profitable.

The big picture: Employers rarely covered in vitro fertilization, egg freezing and other fertility care in the past, and those services are expensive when paying out of pocket — in vitro could cost $25,000 per try.

  • Progyny is capitalizing on companies increasingly offering fertility benefits as a way to attract and keep employees.

By the numbers: Progyny's revenue in the first half of this year was $103 million, and it turned a $4 million profit, according to its IPO documents

  • Progyny's largest customers, Google and Microsoft, together account for 28% of its revenue.

Worth noting: 2 of Progyny's largest investors are big pharmaceutical companies — GlaxoSmithKline and Merck KGaA.

Go deeper: The booming business of fertility

Go deeper

Updated 5 mins ago - World

Scoop: Leaked Ukraine memo reveals scope of Russia's aggression

Russian President Vladimir Putin visits a military exposition in Sevastopol, Crimea, in Jan. 2020. Photo: Mikhail Svetlov/Getty Images

Russia has been holding last-minute military exercises near commercial shipping lanes in the Black Sea that threaten to strangle Ukraine's economy, according to an internal document from Ukraine's ministry of defense reviewed by Axios.

Why it matters: With the eyes of the world on the massive buildup of troops in eastern Ukraine, the leaked memo shows Russian forces escalating their presence on all sides of the Ukrainian border.

The ascent of Lina Khan, tech antitrust icon

Photo illustration: Sarah Grillo/Axios. Photo: An Rong Xu/Washington Post via Getty Images

A Senate confirmation hearing Wednesday for Lina Khan's appointment to a commissioner's seat on the Federal Trade Commission will mark a watershed moment in federal efforts to rein in big tech companies.

Why it matters: Khan, who has helped define broad new ways to think about how antitrust law should apply to modern technology companies, has had temporary government roles before. But a seat on the FTC, which has the power to investigate and sue companies, would put her at the center of D.C.'s regulatory action.

Maxine Waters offers right-wing alternative universe for Chauvin trial

Data: Stanford Cable TV News Analyzer; Chart: Axios Visuals

While Fox News has largely ignored the Derek Chauvin trial compared to competitors, conservative media seized on comments from Rep. Maxine Waters over the weekend, making it the single biggest trial storyline on social media since it began on March 29, according to NewsWhip data provided to Axios.

Why it matters: The data shows that for conservative America, the story in Minneapolis is being used as a way to highlight the aggression of protesters rather than the police killing of a Black man.

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