--- title: "Progyny | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 328.5 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285728209.md" datetime: "2026-05-08T12:52:27.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285728209.md) - [en](https://longbridge.com/en/news/285728209.md) - [zh-HK](https://longbridge.com/zh-HK/news/285728209.md) --- # Progyny | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 328.5 M Revenue: As of FY2026 Q1, the actual value is USD 328.5 M, beating the estimate of USD 326.51 M. EPS: As of FY2026 Q1, the actual value is USD 0.29, beating the estimate of USD 0.2564. EBIT: As of FY2026 Q1, the actual value is USD 33.78 M. #### Segment Revenue Progyny, Inc. operates as one reportable segment, with total revenue for the three months ended March 31, 2026, reaching $328,504 thousand, marking a 1% increase from $324,038 thousand in the prior year period. - **Fertility benefits services revenue**: Increased by $3,000 thousand, or 1%, to $209,434 thousand for the three months ended March 31, 2026, from $206,405 thousand in the prior year period. - **Pharmacy benefits services revenue**: Increased by $1,500 thousand, or 1%, to $119,070 thousand for the three months ended March 31, 2026, from $117,633 thousand in the prior year period. - **Per Employee Per Month (PEPM) fees**: Represented 1% of total revenue for both the three months ended March 31, 2026, and 2025. #### Operational Metrics - **Cost of services**: Decreased by $2,800 thousand, or 1%, to $245,433 thousand for the three months ended March 31, 2026, from $248,243 thousand for the same period in 2025, primarily due to reductions in medical treatment and pharmacy prescription costs, partially offset by increased other related costs and higher headcount costs, despite a $3,100 thousand decrease in stock-based compensation expense. - **Gross profit**: Increased by $7,300 thousand, or 10%, to $83,071 thousand for the three months ended March 31, 2026, from $75,795 thousand for the same period in 2025. - **Gross margin**: Increased by 190 basis points to 25.3% for the three months ended March 31, 2026, compared to 23.4% for the same period in 2025, driven by efficiencies in care management services and a decrease in stock-based compensation expense. - **Sales and marketing expense**: Decreased by $900 thousand, or 5%, to $16,884 thousand for the three months ended March 31, 2026, from $17,786 thousand for the same period in 2025, mainly due to a $2,300 thousand decrease in stock-based compensation expense, partially offset by higher headcount costs and other related expenses. - **General and administrative expense**: Decreased by $3,000 thousand, or 9%, to $30,808 thousand for the three months ended March 31, 2026, from $33,839 thousand for the same period in 2025, primarily due to a $7,300 thousand decrease in stock-based compensation expense within personnel-related costs and a $1,200 thousand decrease in bad debt expense, partially offset by a $2,900 thousand increase in other related general and administrative expenses. - **Income from operations**: Increased to $35,379 thousand for the three months ended March 31, 2026, from $24,170 thousand for the same period in 2025. - **Interest and other income, net**: Decreased by $900 thousand, or 36%, to $1,504 thousand for the three months ended March 31, 2026, from $2,367 thousand for the same period in 2025, mainly due to decreased interest income and increased interest expense. - **Provision for income taxes**: Increased by $1,200 thousand, or 10%, to $12,651 thousand for the three months ended March 31, 2026, from $11,478 thousand for the same period in 2025, mainly due to higher operating profit. - **Net income**: Increased to $24,232 thousand for the three months ended March 31, 2026, from $15,059 thousand for the same period in 2025. - **Adjusted EBITDA**: Decreased to $56,583 thousand for the three months ended March 31, 2026, from $57,790 thousand for the same period in 2025. #### Cash Flow - **Net cash provided by operating activities**: Was $45,949 thousand for the three months ended March 31, 2026, compared to $49,808 thousand for the same period in 2025. - **Net cash provided by (used in) investing activities**: Was $96,594 thousand for the three months ended March 31, 2026, primarily from net proceeds from marketable securities of $102,900 thousand. This contrasts with net cash used in investing activities of - $94,610 thousand for the same period in 2025, mainly due to net investments in marketable securities of $82,400 thousand and - $9,300 thousand for a business acquisition. - **Net cash used in financing activities**: Was - $123,114 thousand for the three months ended March 31, 2026, mainly due to - $118,600 thousand for common stock repurchases, compared to - $3,288 thousand for the same period in 2025. #### Unique Metrics - **Clients**: Progyny, Inc. served 595 clients as of March 31, 2026, an increase from 555 clients as of December 31, 2025. - **Covered Lives**: Totaled 7,179 thousand as of March 31, 2026, up from 6,689 thousand as of December 31, 2025. - **Assisted Reproductive Treatment (ART) Cycles**: Totaled 15,647 for the three months ended March 31, 2026, compared to 16,160 for the same period in 2025. - **Utilization - All Members**: Was 0.56% for the three months ended March 31, 2026, compared to 0.54% for the same period in 2025. - **Utilization - Female Only**: Was 0.48% for the three months ended March 31, 2026, compared to 0.46% for the same period in 2025. - **Average Members**: Totaled 7,185 thousand for the three months ended March 31, 2026, compared to 6,695 thousand for the same period in 2025. - **Net Promoter Score (NPS)**: As of December 31, 2025, the NPS for the fertility benefits solution was +81 and for Progyny Rx was +79. #### Future Outlook and Strategy Progyny, Inc. expects its existing cash, marketable securities, cash flow from operations, and a $200 million revolving credit facility to provide sufficient liquidity for at least the next 12 months. The company plans to continue investing in sales and marketing to acquire new clients and expand its women’s health and family building solutions, including pregnancy and postpartum, menopause, and midlife care. Capital investments in technology and software development are also anticipated to increase over the next year to support its benefits offerings and growth strategy. ### Related Stocks - [PGNY.US](https://longbridge.com/en/quote/PGNY.US.md) ## Related News & Research - [Progyny Earnings Call Signals Confident, Profitable Growth](https://longbridge.com/en/news/285787043.md) - [Progyny, Inc. to Present at BofA Securities 2026 Health Care Conference | PGNY Stock News](https://longbridge.com/en/news/285964121.md) - [Yext to Announce First Quarter Fiscal Year 2027 Financial Results on June 2, 2026 | YEXT Stock News](https://longbridge.com/en/news/286970613.md) - [Progyny, Inc. 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