Progyny, Inc. · NASDAQ:PGNY
Progyny — Q3 2025 Earnings Presentation
13 slides from Progyny's earnings presentation, Nov 6, 2025
Slide 1: 3rd Quarter 2025 Earnings Supplement
3rd Quarter 2025 Earnings Supplement November 2025 1 PLEASE REFER TO SLIDE 2 FOR THE SAFE HARBOR LANGUAGE REGARDING THIS PRESENTATION
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the
Slide 3: 3rd Quarter 2025 Results: Key Highlights
3rd Quarter 2025 Results: Key Highlights 3Q Financial Highlights YTD Financial Highlights Other Highlights • Revenue: • Revenue: • 2025 selling season: • 9.3% growth vs. 3Q 2024 • 12% growth vs. YTD 2024 • Produced over 80 new clients and • 23% growth when excluding impact of a • 20% growth when exc
Slide 4: Highlights for 3-Month Period Ending September 30, 2025
3rd Quarter 2025 Results Highlights for 3-Month Period Ending September 30, 2025 Revenue Gross Profit Contribution from Large, Former Client* $M $M +9.3% • 9.3% growth vs. 3Q24; +23% • 23% increase in gross $286.6 as profit vs. 3Q24 reported +23% 23% when excluding the impact of large, • Gross margi
Slide 5: Highlights for 9-Month Period Ending September 30, 2025
3rd Quarter 2025 Results Highlights for 9-Month Period Ending September 30, 2025 Revenue Gross Profit Contribution from Large, Former Client (through 1H 25 only)* $M $M +12% +20% • 12% growth vs. prior year, • 20% increase vs. prior $970.3 as reported year $868.8 as reported +20% or 20% when excludi
Slide 6: Business Metrics
3rd Quarter 2025 Results Business Metrics Avg. Eligible Utilization1 Members Female Utilization In 000s • 3Q25 utilization even 0.55% • 5% increase in with prior year period average members and reflects typical 6,757 vs. prior year period 0.45% seasonal patterns 6,444 0.35% 0.47% in both 3Q24 and •
Slide 7: Last Twelve Months Trends
3rd Quarter 2025 Results Last Twelve Months Trends LTM Revenue LTM Gross Profit $B $M 300 $291M $1.27B $1.14B $247M • $291M in trailing • $1.27B in trailing twelve-month gross twelve-month profit, an increase of revenue, an 200 18% relative to the increase of 11% year ago period relative to the year
Slide 8: Balance Sheet and Cash Position
Balance Sheet and Cash Position • Maintaining balance sheet strength and operational flexibility: • $345 million in cash, cash equivalents and marketable securities • No debt, and the $200 million revolving credit facility remains undrawn • Ongoing focus on revenue cycle management driving continued
Slide 9: Guidance Recap
3rd Quarter 2025 Results Guidance Recap Three Month Period Ending Twelve Month Period Ending December 31, 2025 December 31, 2025 Revenue $292.7 - $307.7 million $1.263 - $1.278 billion Revenue growth (1.9%) – 3.1%, or 11.5% - 17.2% excluding the 8.2% - 9.5%, or 17.8% - 19.2% excluding the $48.5M $35
Slide 10: Appendix
Appendix 10 PLEASE REFER TO SLIDE 2 FOR THE SAFE HARBOR LANGUAGE REGARDING THIS PRESENTATION
Slide 11: Reconciliations of Non-GAAP Financial Guidance
Reconciliations of Non-GAAP Financial Guidance Three Months Ending Year Ending (in thousands) December 31, 2025 December 31, 2025 Low High Low High Revenue $292,742 $307,742 $1,263,000 $1,278,000 Net Income $12,465 $15,465 $58,500 $61,500 Add: Depreciation and Amortization 1,419 1,419 5,000 5,000 St
Slide 12: Reconciliations of Non-GAAP Financial Guidance
Reconciliations of Non-GAAP Financial Guidance Three Months Ending Year Ending (in thousands) December 31, 2025 December 31, 2025 Low High Low High Net Income $12,465 $15,465 $58,500 $61,500 Add: Stock-based Compensation Expense 28,432 28,432 125,500 125,500 Income tax effect of non-GAAP (7,137) (7,
Slide 13: Reconciliations of GAAP to Non-GAAP Financial Measures
Reconciliations of GAAP to Non-GAAP Financial Measures (in thousands) 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 Net income $10,421 $10,532 $15,059 $17,112 $13,864 Add: Depreciation and 837 868 1,108 1,205 1,268 amortization Stock-based 33,183 30,859 32,512 32,383 32,173 compensation expense Interest and other (