Progyny, Inc. (PGNY) Barclays 28th Annual Global Healthcare Conference March 11, 2026 1:00 PM EDT
Company Participants
Peter Anevski – CEO & Director
Conference Call Participants
Peter Warendorf – Barclays Bank PLC, Research Division
Presentation
Peter Warendorf
Barclays Bank PLC, Research Division
All right. Thanks, everybody, for joining us today. We’re happy to be hosting Progyny. And to my right, I have Pete Anevski, the CEO. For anyone that doesn’t know me, my name is Peter Warendorf. I cover Progyny here at Barclays as well as some of the other tech and distribution names.
So Pete, maybe to kick off the conversation, so there was strength in 4Q. It seems like you guys came in ahead of guidance, maybe utilization was more stable. Can you give us a quick recap of the quarter and any highlights you think are worth mentioning? I know there was some nuance around membership that we’ll dive into in a minute. And there was growth of around 20% in 2025 ex the one customer. How would you characterize where the business is at more generally?
Question-and-Answer Session
Peter Anevski
CEO & Director
Sure. Hello, everybody, by the way, thank you for joining us. So the business is in really good shape. As you mentioned, Peter, we exited the year with 4 strong quarters of utilization as well as growth. We’re positioned well for 2026. We ended the year with another year of 99% client retention, which is really important. Roughly 30% of our clients added or expanded to their benefit in some way or another of the existing base. We had a strong sales year that we were pleased with. And overall, we feel good about with the investments that we’ve made in ’25 and the investments we’re making in ’26, we feel well positioned for the future.
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