PGNY · Progyny, Inc.
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Metrics snapshot
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AI Brief
Q2 FY26 earnings call · Aug 6, 2026TL;DR. Progyny delivered record quarterly revenue, gross profit, and adjusted EBITDA with 180 bps of gross margin expansion while reiterating full-year 2026 revenue guidance of $1.36–$1.385 billion and Q3 guidance that reflects a slightly more pronounced summer seasonality. The company repurchased an additional 2 million shares under a new $200 million program and reported strong selling-season momentum with early commitments pacing meaningfully ahead of last year.
- + Reported record quarterly revenue of $350.5M with 5.3% reported growth (11% ex-large former client) and record adjusted EBITDA of $62.1M.
- + Gross margin expanded 180 basis points year-over-year to 25.5%, reflecting care-management efficiencies and lower stock-based compensation.
- + Selling-season momentum accelerated, with early commitments pacing meaningfully ahead of last year and retention risk largely removed earlier than usual.
- + Reiterated full-year 2026 revenue guidance of $1.360–$1.385B (9.7–11.7% ex-large former client) and adjusted EBITDA of $233–$240M.
- − Q3 guidance of $335–$345M revenue and $56–$59M adjusted EBITDA reflects slightly more pronounced summer seasonality than in prior years.
- − CapEx rose to $6.2M in Q2, a $1M increase year-over-year, as the company continues a multi-year platform investment cycle.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Healthcare Plans — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
PGNY
this stock
Progyny, Inc.
|
$1.99B | +1.0% | +10.4% | 28.2 | 6.0% |
|
UNH
Unitedhealth Group Inc
|
$359.88B | +20.3% | +11.8% | — | 1.7% |
|
CVS
CVS HEALTH Corp
|
$123.73B | +21.9% | +7.8% | 25.5 | 1.3% |
|
ELV
Elevance Health, Inc.
|
$88.37B | +16.2% | +12.5% | 18.0 | 2.5% |
|
CI
Cigna Group
|
$74.65B | +2.6% | +11.2% | 11.7 | 2.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| PGNY | -0.2% | -7.7% | +48.9% | +1.4% | +1.0% |
| SPY | +0.1% | -0.4% | +15.1% | +0.4% | +12.9% |
| vs SPY | -0.3% | -7.3% | +33.8% | +1.0% | -11.9% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.