PGNY

EX-99.1

2 exhibit991q32026.htm

EX-99.1

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Progyny, Inc. Announces Third Quarter 2026 Results

Reports Record Third Quarter Results for Revenue, Gross Profit, Adjusted EBITDA and Net Income

Selling Season Yields Record 1.3 Million New Covered Lives with Another Year of Near 100% Retention

Raises Midpoint of Full Year Guidance Ranges

NEW YORK, November 4, 2026 /GlobeNewswire/ - Progyny, Inc. (Nasdaq: PGNY) (“Progyny” or the “Company”), a global leader in women's health and family building solutions, today announced its financial results for the three-month period ended September 30, 2026 (“the third quarter of 2026”), as compared to the three-month period ended September 30, 2025 (“the third quarter of 2025” or “the prior year period”).

“We're exceptionally pleased with the results of our most recent selling season, where our momentum extended even into its latest stages, yielding 1.3 million new covered lives, our most ever in a single season, and over 85 new clients,” said Pete Anevski, Chief Executive Officer of Progyny. “Beyond new sales activity, our season also focuses on renewing the existing base, where we once again achieved a near 100% retention for 2027 as well as strong demand from those accounts to expand their relationships with us through more comprehensive coverage and the further adoption of our newest services in pregnancy, parenting and menopause support.

“More than ever, these results once again affirm the critical importance of these benefits to employers,” continued Anevski. “We believe the energy and success we're seeing reflect how Progyny remains uniquely positioned to consistently deliver meaningful value and cost trend control to employers, which is particularly impactful given the pressures employers are facing from broader medical cost inflation.

“As we look into next year, we believe we're well-positioned to extend this momentum into 2027, as we're exiting the year with our strongest ever set-up in terms of our number of opportunities and the overall size and quality of the pipeline, as our demonstrated ability to effectively bend the cost curve positions us well for continued success.”

“We achieved strong top- and bottom-line growth this quarter, reflecting that member engagement was consistent with our expectations, and we are pleased to be in a position to raise the midpoint of our full year guidance,” said Mark Livingston, Chief Financial Officer of Progyny. “In addition to the strong results this quarter, we continued to maintain a high conversion of Adjusted EBITDA to operating cash flow, which has provided us with the flexibility to continue investing in our platform while also returning value to shareholders through the repurchase of nearly 11 million shares this year.”

Third Quarter 2026 Highlights:

(unaudited; in thousands, except per share amounts)3Q 20263Q 2025

Revenue $341,254$313,346

Gross Profit $83,740$72,835

Gross Margin 24.5%23.2%

Net Income $26,252$13,864

Net Income per Diluted Share1 $0.32$0.15

Adjusted Earnings per Diluted Share2 $0.52$0.45

Adjusted EBITDA2 $58,439$54,968

Adjusted EBITDA Margin2 17.1%17.5%

Trailing Twelve-Month Operating Cash Flow$207,182$208,153

1.Net income per diluted share reflects weighted-average shares outstanding as adjusted for potential dilutive securities, including options, restricted stock units, and shares issuable under the employee stock purchase plan.

1

2.Adjusted Earnings per Diluted Share, Adjusted EBITDA, and Adjusted EBITDA margin are financial measures that are not required by, or presented in accordance with U.S. generally accepted accounting principles ("GAAP"). Please see Annex A of this press release for a reconciliation of Adjusted Earnings per Diluted Share to earnings per share, and Adjusted EBITDA to net income, the most directly comparable financial measures stated in accordance with GAAP for each of the periods presented. We calculate Adjusted Earnings per Diluted Share as net income per diluted share excluding the impact of stock-based compensation, adjusted for the impact of taxes. We calculate Adjusted EBITDA margin as Adjusted EBITDA divided by revenue.

Financial Highlights

Revenue was $341.3 million, an 8.9% increase as compared to the $313.3 million reported in the third quarter of 2025, due to an increase in the number of clients and covered lives.

•Fertility benefit services revenue was $223.4 million, a 10.6% increase from the $201.9 million reported in the third quarter of 2025.

•Pharmacy benefit services revenue was $117.9 million, a 5.8% increase as compared to the $111.4 million reported in the third quarter of 2025.

Gross profit was $83.7 million, an increase of 15% from the $72.8 million reported in the third quarter of 2025, reflecting ongoing efficiencies realized in the delivery of our care management services as well as a decrease in stock-based compensation expense. Gross margin was 24.5%, as compared to 23.2% reported in the prior year.

Net income wa

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