Progyny, Inc. · NASDAQ:PGNY

Progyny — Q4 2025 Earnings Presentation

14 slides from Progyny's earnings presentation, Feb 26, 2026

  1. Slide 1: 4th Quarter 2025 Earnings Supplement

    P L EAS E R EF ER T O S LI D E 2 F OR TH E SA FE H AR B O R L AN G UA GE R EG AR D IN G TH IS P R E S EN TA TI ON1 4th Quarter 2025 Earnings Supplement February 2026

  2. Slide 2: Safe Harbor Statement

    P L EAS E R EF ER T O S LI D E 2 F OR TH E SA FE H AR B O R L AN G UA GE R EG AR D IN G TH IS P R E S EN TA TI ON2 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 st

  3. Slide 3: 4th Quarter 2025 Results: Key Highlights

    P L EAS E R EF ER T O S LI D E 2 F OR TH E SA FE H AR B O R L AN G UA GE R EG AR D IN G TH IS P R E S EN TA TI ON3 4th Quarter 2025 Results: Key Highlights 4Q Financial Highlights • Revenue: • 6.7% growth vs. 4Q 2024 • 21% growth when excluding impact of a large, former client • Profitability: • 21%

  4. Slide 4: 4th Quarter 2025 Results: Highlights for 3-Month Period

    P L EAS E R EF ER T O S LI D E 2 F OR TH E SA FE H AR B O R L AN G UA GE R EG AR D IN G TH IS P R E S EN TA TI ON4 4th Quarter 2025 Results Highlights for 3-Month Period Ending December 31, 2025 Revenue Op. Cash Flow $318.4 4Q 2024 4Q 2025 • 6.7% growth vs. 4Q24; 21% when excluding the impact of lar

  5. Slide 5: 4th Quarter 2025 Results: Highlights for 12-Month Period

    P L EAS E R EF ER T O S LI D E 2 F OR TH E SA FE H AR B O R L AN G UA GE R EG AR D IN G TH IS P R E S EN TA TI ON5 4th Quarter 2025 Results Highlights for 12-Month Period Ending December 31, 2025 Revenue Op. Cash Flow $1,240.2 YTD 2024 YTD 2025 • 10% growth vs. prior year, or 20% when excluding the

  6. Slide 6: 4th Quarter 2025 Results: Business Metrics

    P L EAS E R EF ER T O S LI D E 2 F OR TH E SA FE H AR B O R L AN G UA GE R EG AR D IN G TH IS P R E S EN TA TI ON6 4th Quarter 2025 Results Business Metrics ART Cycles Consumed Clients 4Q 24 4Q 25 4Q 24 4Q 25 Utilization1 • 4Q25 utilization even with prior year period • Longer-term utilization also

  7. Slide 7: 4th Quarter 2025 Results: Last Twelve Months Trends

    P L EAS E R EF ER T O S LI D E 2 F OR TH E SA FE H AR B O R L AN G UA GE R EG AR D IN G TH IS P R E S EN TA TI ON7 4th Quarter 2025 Results Last Twelve Months Trends LTM Gross Profit LTM Adj. EBITDA LTM OCF • $1.29B in trailing twelve-month revenue, an increase of 10% relative to the year ago period

  8. Slide 8: Balance Sheet and Cash Position

    P L EAS E R EF ER T O S LI D E 2 F OR TH E SA FE H AR B O R L AN G UA GE R EG AR D IN G TH IS P R E S EN TA TI ON8 Balance Sheet and Cash Position • Maintaining balance sheet strength and operational flexibility: • $310 million in cash, cash equivalents and marketable securities • No debt, and the $

  9. Slide 9: 4th Quarter 2025 Results: Guidance Recap

    P L EAS E R EF ER T O S LI D E 2 F OR TH E SA FE H AR B O R L AN G UA GE R EG AR D IN G TH IS P R E S EN TA TI ON9 4th Quarter 2025 Results Guidance Recap Three Month Period Ending March 31, 2026 Twelve Month Period Ending December 31, 2026 Revenue Net Income Adj. EBITDA $319 - $332 million $20.8 -

  10. Slide 10: Quarterly Revenue Distribution

    P L EAS E R EF ER T O S LI D E 2 F OR TH E SA FE H AR B O R L AN G UA GE R EG AR D IN G TH IS P R E S EN TA TI ON10 Quarterly Revenue Distribution Fiscal Year Three Month Period Ending March 31st Three Month Period Ending June 30th Three Month Period Ending September 30th Three Month Period Ending D

  11. Slide 11: Appendix

    P L EAS E R EF ER T O S LI D E 2 F OR TH E SA FE H AR B O R L AN G UA GE R EG AR D IN G TH IS P R E S EN TA TI ON11 Appendix

  12. Slide 12: Reconciliations of Non-GAAP Financial Guidance

    P L EAS E R EF ER T O S LI D E 2 F OR TH E SA FE H AR B O R L AN G UA GE R EG AR D IN G TH IS P R E S EN TA TI ON12 Reconciliations of Non-GAAP Financial Guidance (in thousands) Three Months Ending March 31, 2026 Year Ending December 31, 2026 Low High Low High Revenue $319,000 $332,000 $1,355,000 $1

  13. Slide 13: Reconciliations of Non-GAAP Financial Guidance

    P L EAS E R EF ER T O S LI D E 2 F OR TH E SA FE H AR B O R L AN G UA GE R EG AR D IN G TH IS P R E S EN TA TI ON13 Reconciliations of Non-GAAP Financial Guidance (in thousands) Three Months Ending March 31, 2026 Year Ending December 31, 2026 Low High Low High Net Income $20,800 $23,700 $95,400 $106

  14. Slide 14: Reconciliations of GAAP to Non-GAAP Financial Measures

    P L EAS E R EF ER T O S LI D E 2 F OR TH E SA FE H AR B O R L AN G UA GE R EG AR D IN G TH IS P R E S EN TA TI ON14 Reconciliations of GAAP to Non-GAAP Financial Measures (in thousands) 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 Net income $10,532 $15,059 $17,112 $13,864 $12,485 Add: Depreciation and amortizatio

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