Revenue and Profitability Exceeded Expectations
Progyny reported a very strong third quarter with revenue and profitability that exceeded the high end of guidance ranges. Revenue growth was 9% on an as-reported basis, with a 23% gross margin and a 17.5% adjusted EBITDA margin.
Full Year Guidance Raised
For the third consecutive quarter, Progyny raised its full-year guidance, increasing the midpoint of revenue guidance by more than $70 million above the original range.
Successful Selling Season
Progyny added over 80 new logos and approximately 900,000 lives, reflecting strong demand for their solutions despite macroeconomic challenges.
Near 100% Client Renewal Rate
Progyny achieved nearly 100% renewal of existing clients in covered lives for 2026, showcasing strong client retention and satisfaction.
Strong Cash Flow and Share Repurchase Program
Generated more than $50 million in operating cash flow this quarter, bringing the total to a record $156 million over the first 9 months. Announced a new share repurchase program for up to $200 million.
Introduction of New Supplemental Plan
Progyny announced a first-of-its-kind supplemental plan for fertility and family building, targeting small and midsized companies.