Progyny Q2 revenue rises 5%, slightly beats estimates

Revenue growth was driven by an increase in the number of clients and covered lives, partially offset by the loss of a large client, according to the company.

CEO Pete Anevski said member engagement trended to the upper end of expectations, supporting strong results.

Gross profit and margin increased due to ongoing efficiencies in care management services and lower stock-based compensation expense, the company said.

Progyny, the women's health benefits provider, said second-quarter revenue rose 5%, slightly beating analyst expectations.

Adjusted EBITDA for the quarter rose 7%, also beating analyst expectations.

The company repurchased nearly 1.2 million shares in the second quarter under its current buyback program.

Progyny said it expects third-quarter revenue of $335 million to $345 million.

For full-year 2026, the company expects revenue of $1.36 billion to $1.385 billion.

Progyny said it anticipates a seasonal slowdown in member engagement during the summer.