Progyny Q1 revenue slightly beats estimates, raises FY outlook

Progyny

07/05/2026 21:43

Overview

US women's health benefits provider's Q1 revenue rose slightly, slightly beating analyst expectations

Adjusted EPS and adjusted EBITDA for Q1 beat analyst expectations

Company completed $200 mln share buyback, repurchasing 8.8 mln shares since November

Outlook

Progyny sees Q2 revenue between $342 mln and $355 mln

Company expects full-year 2026 revenue of $1.365 bln to $1.405 bln

Progyny says guidance reflects variability in member engagement and macroeconomic uncertainty

Result Drivers

CLIENT GROWTH OFFSET BY LOST ACCOUNT - Co said revenue growth was driven by an increase in clients and covered lives, but was largely offset by the loss of a large client that did not renew for 2025

EFFICIENCY GAINS - Higher gross profit and margin reflected ongoing efficiencies in care management and lower stock-based compensation expense

ROBUST DEMAND - Early selling season activity and higher member engagement reflected strong demand for women's health and family building solutions

Company press release: ID:nGNX3yz9rP

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Beat*
$328.50 mln
$326.57 mln (9 Analysts)
Q1 Adjusted EPS
Beat
$0.50
$0.30 (9 Analysts)
Q1 EPS
$0.29
Q1 Net Income
$24.23 mln
Q1 Adjusted EBITDA
Beat
$56.58 mln
$53.31 mln (10 Analysts)
Q1 Gross Profit
$83.07 mln
Q1 Pretax Profit
$36.88 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the managed healthcare peer group is "buy"

Wall Street's median 12-month price target for Progyny Inc is $28.00, about 49.7% above its May 6 closing price of $18.70

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 26 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)