---
schema_version: "secwatch.filing_event.v1"
accession: "0001551306-25-000092"
form_type: "8-K"
ticker: "PGNY"
cik: "0001551306"
company_name: "Progyny, Inc."
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T04:16:34.723739+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Progyny Q1 revenue $324M (+16.5% YoY), raises FY2025 guidance above prior outlook

## Summary
- Q1 revenue $324.0M (+16.5% YoY); gross margin 23.4% vs 22.4% a year ago.
- Adjusted EBITDA $57.8M (17.8% margin) vs $50.3M (18.1% margin) in Q1 2024.
- Net income $15.1M ($0.17 EPS); adjusted EPS $0.48 vs $0.39 in prior year.
- FY2025 revenue guidance raised to $1.185B-$1.235B; adjusted EBITDA guided $190M-$203M.
- Fertility clients 532 (up from 451); ART cycles 16,160 (+9.2% YoY). Large client transition contributed $31.3M revenue in Q1.

## SEC filing metadata
- accession: 0001551306-25-000092
- form_type: 8-K
- ticker: PGNY
- cik: 0001551306
- company_name: Progyny, Inc.
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1551306/000155130625000092/0001551306-25-000092-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1551306/000155130625000092/pgny-20250508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001551306-25-000092
- JSON: https://secwatch.observer/filing/0001551306-25-000092.json
- Plain text: https://secwatch.observer/filing/0001551306-25-000092.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.