Quarterly ResultMay 7, 2026, 04:10 PM
Progyny Q1 Revenue $328.5M, Net Income $24.2M; Repurchases 8.8M Shares
AI Summary
Progyny, Inc. announced strong first quarter 2026 financial results, reporting record revenue of $328.5 million, a 1.4% increase year-over-year, or 12.2% excluding a former large client. Net income surged by 60.3% to $24.2 million, while Adjusted EBITDA saw a slight decrease of 2.1% to $56.6 million due to planned platform investments. The company also completed its share repurchase program, buying back 8.8 million shares to date, and provided an optimistic full-year 2026 outlook.
Key Highlights
- Q1 2026 revenue reached $328.5 million, a 1.4% increase year-over-year.
- Excluding a former large client, Q1 revenue grew 12.2% year-over-year.
- Net income for Q1 2026 increased 60.3% to $24.2 million, or $0.29 per diluted share.
- Gross profit rose 10% to $83.1 million, with gross margin expanding to 25.3%.
- Adjusted EBITDA decreased 2.1% to $56.6 million, with a margin of 17.2%.
- Repurchased 5.5 million shares for $116.4 million in Q1, completing the 8.8 million share program.
- Full-year 2026 revenue guidance is $1.365 billion to $1.405 billion.
- Full-year 2026 Adjusted EBITDA guidance is $232.0 million to $244.0 million.