Progyny Q3 revenue rises driven by new clients
Overview
U.S. women's health benefits provider's Q3 revenue rose 8.9%, slightly beating analyst expectations
Adjusted EBITDA for Q3 slightly exceeded analyst consensus
Company repurchased nearly 3 mln shares in Q3, totaling almost 11 mln in 2026
Outlook
Progyny raises midpoint of full-year 2026 guidance
Company sees 2026 revenue of $1.365 bln to $1.385 bln
Company expects 2026 net income of $107 mln to $110.6 mln
Result Drivers
CLIENT GROWTH - Q3 revenue growth was driven by more clients and covered lives
EFFICIENCY GAINS - Co attributed higher gross profit to improved care management efficiencies and lower stock-based compensation expense
PLATFORM INVESTMENT - Co said planned investments in platform features partially offset higher gross profit
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Beat* | $341.25 mln | $340.92 mln (10 Analysts) |
Q3 EPS | $0.32 | ||
Q3 Net Income | $26.25 mln | ||
Q3 Adjusted EBITDA | Slight Beat* | $58.44 mln | $57.94 mln (11 Analysts) |
Q3 Gross Profit | $83.74 mln | ||
Q3 Pretax Profit | $36.42 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 10 "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 $35.00, about 20.4% above its November 3 closing price of $29.06
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 22 three months ago
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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.)