Progyny(NASDAQ) PGNY

Progyny NASDAQ:PGNY helps companies provide fertility benefits to their employees. It makes starting a family easier for millions of people. The company connects members with specialized doctors and pharmacy services.

Smart Cycles and Meds

• Fertility Benefits Solution: Proprietary treatment bundles called Smart Cycles that include diagnostic testing and medical services.
• Progyny Rx: Integrated pharmacy program providing access to medications and specialist support during treatment.
• Care Management Services: Direct support from patient advocates and access to a curated network of specialists.
• Population-Based Services: Digital tools and education for all employees; accounted for 1% of revenue for the six-month period ended June 30, 2026.

Building the Platform

• Authorized a $200 million share repurchase program in November 2025.
• Launched an additional $200 million share repurchase program in May 2026.
• Completed a business acquisition in the first half of 2025 to expand offerings.
• Expanded the client base to over 600 employers across more than 40 different industries.

Clinical Results and Care

Progyny uses a data-driven platform that delivers clinical results exceeding national averages for live births and single embryo transfers. The company manages a selective network of fertility specialists while providing members with dedicated advocates to guide their treatment journeys.

The Financial Scorecard

• Total revenue was $679.0 million for the six-month period ended June 30, 2026, up 3% year over year.
• Gross profit reached $172.4 million in the six-month period ended June 30, 2026, up 11% year over year.
• Adjusted EBITDA, a non-GAAP measure, was $118.7 million for the six-month period ended June 30, 2026.
• The company held $152.6 million in cash and cash equivalents as of June 30, 2026.
• Net income rose to $52.3 million in the six-month period ended June 30, 2026.

Bottom Line

Progyny has transitioned from a niche fertility provider to a diversified women’s health platform serving millions of members. Its expansion into pharmacy and broader health solutions supports its role as a specialized benefits manager for large employers.