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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Progyny
Progyny (PGNY) investor relations material
Progyny Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary4 Nov, 2026
Executive summary
Q3 revenue, gross profit, net income and Adjusted EBITDA reached records; the FY26 guidance midpoint was raised after strong first-nine-month performance.
The 2027 selling season added a record 1.3M covered lives and more than 85 clients, with near-100% retention and strong pipeline momentum.
Financial highlights
Q3 revenue was $341.3M, up 8.9% YoY; gross profit was $83.7M, up 15%, and gross margin expanded 130 bps to 24.5%.
Q3 net income was $26.3M versus $13.9M; diluted EPS was $0.32 versus $0.15. Adjusted EBITDA rose 6.3% to $58.4M.
9M revenue was $1,020.3M versus $970.3M; growth was 11% excluding $48.5M of former-client transition revenue in 2025. 9M Adjusted EBITDA was $177.1M versus $170.7M.
9M gross profit rose 13% to $256.1M and gross margin expanded 160 bps to 25.1%; operating cash flow was $153.0M versus $156.0M.
Outlook and guidance
FY26 revenue guidance is $1.365B–$1.385B, or 5.9%–7.5% growth; excluding $48.5M of 2025 transition-agreement revenue, growth is 10.1%–11.7%.
FY26 net income guidance is $107.0M–$110.6M, diluted EPS $1.30–$1.35, Adjusted EBITDA $235M–$240M and Adjusted diluted EPS $2.09–$2.13.
Q4 guidance: revenue $344.7M–$364.7M; net income $28.5M–$32.1M; diluted EPS $0.36–$0.41; Adjusted EBITDA $57.9M–$62.9M; Adjusted diluted EPS $0.53–$0.58.
Most new clients and lives are expected to launch in Q1 2027, with further launches mid-year; once live, the base is expected to exceed 660 clients and cover ~8.3M lives.
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Latest events from Progyny
- Stable demand, expanding products, and strong cost control support robust growth outlook.PGNY
Wells Fargo 21st Annual Healthcare Conference - Early renewals, strong sales, and new products drive growth and expand market reach.PGNYCanaccord Genuity's 46th Annual Growth Conference
- Record Q2 2026 revenue, profit, and margin growth, with strong outlook and share repurchases.PGNYQ2 2026
- Record revenue, strong retention, and all proposals approved; poised for growth in 2026.PGNYAGM 2026
- Robust demand, high retention, and product expansion position the business for sustained growth.PGNYBank of America Global Healthcare Conference 2026
- Q1 revenue up 12.2% (ex-large client), net income up 61%, and 8.8M shares repurchased.PGNYQ1 2026
- Proxy covers director elections, auditor ratification, pay reforms, and governance changes.PGNYProxy filing
- Aiming for $2.4B+ revenue and $500M+ Adjusted EBITDA by 2028, leveraging new products and expansion.PGNYInvestor Day 2024
- Record Q1 revenue, double-digit EBITDA growth, and raised guidance amid strong demand.PGNYQ1 2025
Next Progyny earnings date
Q4 202625 Feb, 2027
Progyny
Next Progyny earnings date
Q4 202625 Feb, 2027
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Frequently asked questions
Progyny, Inc. provides employers' fertility and family building benefits solutions. Progyny simplifies how employers offer fertility and family building insurance to their employees by combining three key services: program management for employers, customer support for both employers and employees, and a simple online enrollment platform providing employees the capability to compare plans in one location. Progyny, Inc. was incorporated in 2008 and is headquartered in New York, New York.