Progyny's stock experienced a significant after-hours plunge of 7.37% following the release of its fourth-quarter 2025 earnings and future guidance.
The company reported Q4 revenue of $318.4 million, beating estimates, and full-year 2025 revenue growth of 10%. However, investors reacted negatively to the company's outlook for fiscal year 2026, which projects revenue growth of only 5.1% to 9%, a slowdown from the previous year's pace. Additionally, guidance for the first quarter of 2026 indicates revenue growth of just 2.5%.
The detailed earnings report highlighted the loss of a large client that did not renew for 2025, contributing no revenue in the fourth quarter. The company's pharmacy benefit services segment also saw a revenue decline of 1.1% during the quarter, adding to concerns about future growth prospects.
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