Inferra AI / Company / PGNY

Progyny, Inc.

PGNY · Health Care

Last earnings Aug 6, 2026

Key results

Revenuequarter

$332.9 million

1 Financial Highlights Revenue was $332.9 million, a 9.5% increase as compared to the $304.1 million reported in the second quarter of 2024, primarily as a result of the increase in our number of clients and covered lives.

SEC original ↗Progyny, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

As previously disclosed, a large client did not renew its services agreement for 2025, though it provided for an extended transition period over the first half of 2025 for members meeting certain criteria excluding the $17.2 million and $35.9 million of revenue from this client in the second quarters of 2025 and 2024, respectively, revenue increased 18%.

SEC original ↗Progyny, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Fertility benefit services revenue was $213.9 million, a 11% increase from the $193.6 million reported in the second quarter of 2024.

SEC original ↗Progyny, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Pharmacy benefit services revenue was $118.9 million, a 8% increase as compared to the $110.5 million reported in the second quarter of 2024.

SEC original ↗Progyny, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Gross marginquarter

23.7%

Gross margin was 23.7%, as compared to the 22.5% reported in the prior year period .

SEC original ↗Progyny, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Net incomequarter

$17.1 million

Net income was $17.1 million, or $0.19 income per diluted share, as compared to the $16.5 million, or $0.17 income per diluted share, reported in the second quarter of 2024.

SEC original ↗Progyny, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

AI analysis

Q2 2025 · reported Aug 7, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Revenue · Q2 2025

$332.9M

EX-99 · Aug 7, 2025

Gross margin · Q2 2025

23.7%

EX-99 · Aug 7, 2025

Net income · Q2 2025

$17.1M

EX-99 · Aug 7, 2025

The quarter in charts

Guidance ladder — revenue

Delivered vs the company's guided range

Q2 2025 delivered$332.9M

Guided range (company-stated)$0.3B · midpoint $0.3B

0$B

EX-99 · Aug 7, 2025 Guide as stated by the company; range and midpoint computed from the stated figure.

Headline figures

Metric	Q2 2025	Prior qtr	Year ago
Revenue	$332.9 million	—	—
Gross margin	23.7%	—	—
Net income	$17.1 million	—	—

EX-99 · Aug 7, 2025

Guidance · company-stated

Direction: Raised

Revenue$332.9 Million

“Announces Second Quarter 2025 Results Reports Record Revenue of $332.9 Million, Reflecting 9.5% Growth Generates $55.5 Million in Quarterly Operating Cash Flow and Record $105.3 Million over the First Half of 2025 Raises Full Year Guidance to Reflect Continued Increase in Pacing of Member Engagement NEW YORK, August 7, 2025 GlobeNewswire - Progyny, Inc.”

Company outlook — Raised

“In light of our strong results in the first half of the year, as well as the higher expectations for member engagement, we're pleased to raise our guidance for the year, said Mr.”

Midpoint vs latest-quarter revenue0.0%computed from stated figures

Classified from the release's primary full-year outlook statement.

Next earningsNo verified date on fileNo date is estimated or imported

Margin

Gross margin23.7%

Capital allocation

Balance Sheet and Financial Position As of June 30, 2025, the Company had total working capital of approximately $374.0 million and no debt.

Following the close of the quarter, the Company entered into a revolving credit facility which makes available a maximum aggregate amount of $200 million, subject to customary borrowing conditions, until its maturity on July 1, 2030.

What changed vs last quarter

Guide midpoint vs latest-quarter revenue 0.0% computed from stated figures

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Adjusted Earnings per Diluted Share, Adjusted EBITDA, and Ad

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

Direction: Raised

Revenue: “Announces Second Quarter 2025 Results Reports Record Revenue of $332.9 Million, Reflecting 9.5% Growth Generates $55.5 Million in Quarterly Operating Cash Flow and Record $105.3 Million over the First Half of 2025 Raises Full Year Guidance to Reflect Continued Increase in Pacing of Member Engagement NEW YORK, August 7, 2025 GlobeNewswire - Progyny, Inc.”

Revenue — Raised (“Raises”)
“Announces Second Quarter 2025 Results Reports Record Revenue of $332.9 Million, Reflecting 9.5% Growth Generates $55.5 Million in Quarterly Operating Cash Flow and Record $105.3 Million over the First Half of 2025 Raises Full Year Guidance to Reflect Continued Increase in Pacing of Member Engagement NEW YORK, August 7, 2025 GlobeNewswire - Progyny, Inc.”

Company outlook — Raised (“raise”)
“In light of our strong results in the first half of the year, as well as the higher expectations for member engagement, we're pleased to raise our guidance for the year, said Mr.”

Classified from the release's primary full-year outlook statement.

Capital allocation

Balance Sheet and Financial Position As of June 30, 2025, the Company had total working capital of approximately $374.0 million and no debt.

SEC original ↗Progyny, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Some of the limitations of Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA margin on incremental revenue and Adjusted earnings per diluted share include (1) it does not properly reflect capital commitments to be paid in the future (2) although depreciation and amortization are non-cash charges, the underlying assets may need to be replaced and Adjusted EBITDA does not reflect these capital expenditures (3) it does not consider the impact of stock-based compensation expense (4) it does not reflect other non-operating income and expenses, including interest and other income, net and (5) it does not reflect tax payments that may represent a reduction in cash available to us.

SEC original ↗Progyny, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Debt On July 1, 2025, the Company entered into a revolving credit facility (the Facility ) pursuant to a Credit Agreement (the Credit Agreement ) with the lenders and issuing banks, party thereto and JPMorgan Chase Bank, N.

SEC original ↗Progyny, Inc. — 10-Q Quarterly report10-QAug 7, 2026

The Credit Agreement makes available to the Company a maximum aggregate amount of $ 200 million, subject to customary borrowing conditions, until maturity on July 1, 2030.

SEC original ↗Progyny, Inc. — 10-Q Quarterly report10-QAug 7, 2026

Interest on the borrowings under the Credit Agreement accrues, at a variable rate, based on, at the Company s option (i) adjusted Secured Overnight Financing Rate, or (ii) the alternate base rate, plus, in each case, an applicable margin.

SEC original ↗Progyny, Inc. — 10-Q Quarterly report10-QAug 7, 2026

Strategy & priorities

The second quarter results reflect strong revenue growth and gross margin expansion, as well as a high conversion of Adjusted EBITDA to cash flow, which helped us to generate a record $105 million in operating cash flow over the first half of the year, said Mark Livingston, Progyny s Chief Financial Officer.

SEC original ↗Progyny, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Acquisitions, strategic investments, or partnerships could be difficult to identify, pose integration challenges, divert the attention of management, disrupt our business, dilute stockholder value, and adversely affect our business, financial condition and results of operations.

SEC original ↗Progyny, Inc. — 10-Q Quarterly report10-QAug 7, 2026

Our growth depends in part on the success of our strategic relationships with, and monitoring of, third parties, including channel partners and vendors as well as insurance carriers.

SEC original ↗Progyny, Inc. — 10-Q Quarterly report10-QAug 7, 2026

Risks & headwinds

Given the variability in member engagement experienced in prior periods, as well as the potential for any impact from ongoing macro economic uncertainty, the guidance issued today reflects a range of member engagement.

SEC original ↗Progyny, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

SEC original ↗Progyny, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Legal Proceedings 43 Item 1A.

SEC original ↗Progyny, Inc. — 10-Q Quarterly report10-QAug 7, 2026

These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

SEC original ↗Progyny, Inc. — 10-Q Quarterly report10-QAug 7, 2026

This summary does not address all of the risks and uncertainties that we face.

SEC original ↗Progyny, Inc. — 10-Q Quarterly report10-QAug 7, 2026

Additional discussion of the risks summarized in this risk factor summary, and other risks and uncertainties that we face, can be found under the heading Risk Factors in Part II, Item 1A.

SEC original ↗Progyny, Inc. — 10-Q Quarterly report10-QAug 7, 2026

Documents

Earnings deck slides

0 decks with slide view

Progyny, Inc. — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Competitors