Financial Performance - Progyny reported revenue of $318.4 million for the quarter ended December 2025, reflecting a 6.7% increase year-over-year [1] - Earnings per share (EPS) for the quarter was $0.48, up from $0.42 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $303.93 million by 4.76% [1] - The company delivered an EPS surprise of 25.49%, with the consensus EPS estimate being $0.38 [1] Key Metrics - Utilization for female-only services was 0.5%, matching the two-analyst average estimate [4] - Average members reached 6,707, surpassing the two-analyst average estimate of 6,586 [4] - Revenue from pharmacy benefit services was $109.8 million, slightly below the estimated $110.78 million, representing a year-over-year decrease of 1.1% [4] - Revenue from fertility benefit services was $208.6 million, exceeding the three-analyst average estimate of $192.06 million, with a year-over-year increase of 11.3% [4] Stock Performance - Progyny's shares have returned -13.1% over the past month, while the Zacks S&P 500 composite has increased by 0.6% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Core Insights - Progyny, Inc. reported a record revenue of $318.4 million for Q4 2025, reflecting a 6.7% increase year-over-year, and a full-year revenue of $1.288 billion, a 10% increase compared to the previous year [1][3][9] - The company generated a record operating cash flow of $210.2 million for the full year and returned approximately $160 million to shareholders through share repurchases [1][2][13] - Progyny issued financial guidance for 2026, indicating expectations for continued revenue growth for the tenth consecutive year [1][24] Financial Performance - **Fourth Quarter Highlights**: - Revenue: $318.4 million, up 6.7% from $298.4 million in Q4 2024 [3][5] - Gross Profit: $76.9 million, a 21% increase from $63.4 million in Q4 2024 [3][6] - Net Income: $12.5 million, or $0.14 per diluted share, compared to $10.5 million, or $0.12 per diluted share in Q4 2024 [3][7] - Adjusted EBITDA: $51.4 million, an 8.2% increase from $47.5 million in Q4 2024 [3][8] - **Full Year Highlights**: - Revenue: $1.288 billion, a 10% increase from $1.167 billion in 2024 [3][9] - Gross Profit: $304.5 million, a 20% increase from $253.4 million in 2024 [3][10] - Net Income: $58.5 million, or $0.65 per diluted share, compared to $54.3 million, or $0.57 per diluted share in 2024 [3][11] - Adjusted EBITDA: $222.1 million, a 12% increase from $198.8 million in 2024 [3][12] Cash Flow and Shareholder Returns - The company reported net cash provided by operating activities of $210.2 million for 2025, compared to $179.1 million in 2024 [13] - Share repurchase activity included the purchase of approximately 6.5 million shares, returning about $160 million to shareholders [1][15] Client and Market Expansion - As of December 31, 2025, Progyny had 555 fertility and family building clients, up from 473 clients a year earlier [16] - The company anticipates having approximately 600 clients in 2026, representing an estimated 7.2 million covered lives [22] Financial Guidance - For 2026, revenue is projected to be between $1.355 billion and $1.405 billion, reflecting growth of 5.1% to 9.0% [24] - Net income is expected to be between $95.4 million and $106.1 million, or $1.10 to $1.22 per diluted share [24]

Core Viewpoint - Wall Street analysts anticipate Progyny (PGNY) will report quarterly earnings of $0.38 per share, reflecting a year-over-year decline of 9.5%, while revenues are expected to be $303.93 million, an increase of 1.8% from the previous year [1] Group 1: Earnings and Revenue Estimates - The consensus EPS estimate for the upcoming quarter has remained unchanged over the last 30 days, indicating a reevaluation of initial estimates by analysts [1] - Analysts project 'Revenue- Pharmacy benefit services revenue' to be $110.78 million, showing a decrease of 0.2% from the prior-year quarter [4] - 'Revenue- Fertility benefit services revenue' is expected to reach $192.06 million, indicating an increase of 2.4% from the year-ago quarter [4] Group 2: Membership and Market Performance - Analysts predict that the 'Average Members' will reach 6,586, compared to 6,471 reported in the same quarter of the previous year [4] - Progyny shares have decreased by 14.3% in the past month, contrasting with the Zacks S&P 500 composite's decline of 0.3% [5] - With a Zacks Rank 3 (Hold), PGNY is expected to closely follow overall market performance in the near term [5]