• Reported GAAP EPS of $0.30 up 66.67% YoY • Reported revenue of $328.5M up 1.38% YoY • Progyny projects full-year 2026 revenue between $1.37B and $1.41B, reflecting 5.9% to 9.0% growth. Net income is projected to be $103.7M to $112.3M for the full year.
Bullish
Progyny demonstrated strong underlying revenue growth excluding a client loss, improved profitability with expanded gross margins and net income, and saw healthy client and member expansion.
Bearish
Progyny's Q1 revenue growth was constrained by a large client loss, and ART Cycles declined. Adjusted EBITDA also decreased, reflecting operational pressures and reduced operating cash flow.