PGNYNasdaqServices-Misc Health & Allied Services, NECUS GAAP · USD

Progyny, Inc.

Progyny, Inc. provides employer-sponsored fertility, family building, and women’s health benefits in the United States. Its platform combines benefit plan design, member education and care navigation, a selective provider network, and an integrated pharmacy benefits solution called Progyny Rx.

Kysy yhtiöstä
Liikevaihto1 289milj. USD
+10,4 %v/v
Liikevoitto (EBIT)85,3milj. USD
+26,4 %v/v
EBIT-marginaali6,6%
+0,8 %-yks.v/v
Nettotulos58,5milj. USD
+7,7 %v/v
Vapaa kassavirta192milj. USD
+10,4 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

05001 0001 500milj. USD2020: 345 milj. USD2020: EBIT 8,3 milj. USD20202021: 501 milj. USD2021: EBIT 32 milj. USD20212022: 787 milj. USD2022: EBIT 23 milj. USD20222023: 1 089 milj. USD2023: EBIT 62 milj. USD20232024: 1 167 milj. USD2024: EBIT 67 milj. USD20242025: 1 289 milj. USD2025: EBIT 85 milj. USD20251 28985
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Fertility benefits solution70 %

Employer-sponsored fertility coverage, care management, and member support for treatment journeys.

Progyny Rx20 %

Integrated pharmacy benefits and medication support tied to fertility treatment.

Women’s health and family-building navigation10 %

Digital and concierge support across pregnancy, postpartum, menopause, and related milestones.

Tuotteet

Raportoitu · osuus liikevaihdosta
64,5%35,5%FY2025100 %
  • Fertility Benefit Services64,5 %
  • Pharmacy Benefit Services35,5 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Progyny sells primarily to U.S. employers that sponsor health benefits for large employee populations. These clients buy the service to improve access to fertility and women’s health care, support employee experience, and manage complex treatment pathways through a single benefits platform.

Large employer clients

Employers with at least 1,000 covered lives that purchase fertility and women’s health benefits for their workforce.

Employees and covered dependents

Members who use fertility, pregnancy, postpartum, menopause, and navigation services through employer-sponsored coverage.

Benefits consultants and channel partners

Intermediaries that help introduce Progyny to employer buyers and support sales conversion.

Health plan and specialty pharmacy partners

Partners that support network access, medication fulfillment, and integration with client benefit programs.

Strategia

Progyny’s strategy centers on expanding its employer client base, broadening the women’s health continuum, and deepening the value of its integrated fertility and pharmacy offering. It also emphasizes network management, member support, and data-driven care design to improve outcomes and reinforce its position with large employers and benefits consultants.

Grow employer client baseLyhyt aikaväli

More clients and covered lives expand the installed base and support recurring benefit adoption.

Broaden women’s health offeringsKeskipitkä aikaväli

Adding adjacent services increases wallet share and makes the platform more relevant across life stages.

Deepen integrated care and pharmacy modelKeskipitkä aikaväli

Tighter coordination between treatment, authorization, and medication support can improve outcomes and retention.

Maantiede

Progyny’s business is concentrated in the United States, where it serves employers across more than 40 industries. Its operating model depends on access to U.S. providers, specialty pharmacies, and employer benefit channels, while treatment location and provider network design can affect service delivery economics.

Riskit

Progyny depends on employer sales, third-party partners, and specialty pharmacy networks, so disruptions in any of those relationships can slow growth or impair service delivery. It also operates in a heavily regulated healthcare environment where communications rules, PBM oversight, and reimbursement or authorization practices can affect operations and compliance.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Dependence on third-party relationships1Specialty pharmacy network disruption2Healthcare and PBM regulation3Guidance and expectation risk4Client concentration in large employers5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Dependence on third-party relationshipsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The business relies on channel partners, vendors, insurers, and specialty pharmacies to sell and deliver services.

    KohdistuuSalesNetwork accessPharmacy fulfillment
  2. Specialty pharmacy network disruptionVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Progyny Rx depends on efficient medication distribution and supply chain continuity.

    Kohdistuu: Medication access and treatment continuity

  3. Healthcare and PBM regulationVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The company is subject to increasing scrutiny around communications, benefits administration, and PBM operations.

    KohdistuuComplianceFinesOperating restrictions
  4. Guidance and expectation riskVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Market valuation can be sensitive to whether operating results meet public expectations.

    Kohdistuu: Share price volatility

  5. Client concentration in large employersVaikutus: KeskitasoTodennäköisyys: Matala

    The model depends on retaining and expanding relationships with large employer accounts.

    Kohdistuu: Renewals and revenue stability

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition and accrued receivables

A portion of revenue depends on estimates tied to member utilization and service delivery timing.

Vaikutus: Can shift revenue between periods and affect reported growth

Accrued claims payable

Healthcare service and pharmacy-related obligations require estimates of unpaid claims and related costs.

Vaikutus: Affects cost of services and liabilities

Stock-based compensation

Equity awards are a significant operating expense and can be volatile with hiring and grant activity.

Vaikutus: Impacts operating margin and adjusted earnings reconciliation

Income tax accounting

Tax provisions depend on estimates and can vary with profitability and discrete items.

Vaikutus: Affects net income and effective tax rate

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Päivitetty: 24.9.2026