Progyny Q2 revenue rises 5%, slightly beats estimates
Progyny Q2 revenue rises 5%, slightly beats estimates
Overview
Women's health benefits provider's Q2 revenue rose 5%, slightly beating analyst expectations
Q2 adjusted EBITDA rose 7%, beating analyst expectations
Company repurchased nearly 1.2 mln shares in Q2 under current buyback program
Outlook
Progyny sees Q3 revenue of $335 mln to $345 mln
Company expects full-year 2026 revenue of $1.36 bln to $1.385 bln
Progyny anticipates a seasonal slowdown in member engagement during the summer
Result Drivers
CLIENT GROWTH - Revenue growth was driven by an increase in the number of clients and covered lives, partially offset by the loss of a large client, per company
MEMBER ENGAGEMENT - Higher member engagement trended to the upper end of expectations, supporting strong results, according to CEO Pete Anevski
EFFICIENCY GAINS - Gross profit and margin increased due to ongoing efficiencies in care management services and lower stock-based compensation expense, per company
Company press release: ID:nGNX2wqrQX
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Slight Beat* | $350.51 mln | $348.68 mln (10 Analysts) |
Q2 EPS |
| $0.34 |
|
Q2 Net Income |
| $28.05 mln |
|
Q2 Adjusted EBITDA | Beat | $62.1 mln | $60.72 mln (10 Analysts) |
Q2 Gross Profit |
| $89.3 mln |
|
Q2 Pretax Profit |
| $41.14 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 $32.00, about 2% above its August 5 closing price of $31.37
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 13 three months ago
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(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.)