Progyny(US:PGNY)2025-11-06 21:45Financial Performance - Q3 2025 - Revenue increased by 93% compared to Q3 2024, and excluding the impact of a large, former client, revenue grew by 23%[6, 8] - Gross profit increased by 23% compared to Q3 2024, resulting in a gross margin of 232%, a 250 basis point increase year-over-year[6, 8] - Adjusted EBITDA increased by 18% compared to Q3 2024, yielding a 175% Adjusted EBITDA margin, a 130 basis point increase year-over-year[6, 8] - Operating cash flow generated in Q3 2025 was $507 million[6, 8] Financial Performance - Year-to-Date 2025 - Revenue increased by 12% compared to YTD 2024, and excluding the impact of a large, former client, revenue grew by 20%[6, 10] - Gross profit increased by 20% compared to YTD 2024, resulting in a gross margin of 235%, a 160 basis point increase year-over-year[6, 10] - Adjusted EBITDA increased by 13% compared to YTD 2024, yielding a 176% Adjusted EBITDA margin, a 20 basis point increase year-over-year[6, 10] - Operating cash flow generated YTD 2025 was $1560 million, compared to $1269 million in the prior year period[6, 10] Business Highlights - The 2025 selling season produced over 80 new clients and approximately 900000 new covered lives[6] - The company achieved near 100% retention of existing clients, with no large client loss[6] - Nearly 30% of existing clients are expanding benefits in some way for 2026[6] - A new share repurchase program was authorized for up to $200 million[6, 18] Member Engagement - Female utilization in 3Q 2025 was 047%, comparable to the prior year period[6, 12]