Progyny reported exceptional third-quarter results with a 9% sales growth, adjusted to 23% due to the loss of a major customer last year. The company’s best-in-class benefits led to strong client retention rates. Shares of Progyny surged 18% following the earnings report, exceeding analysts’ expectations. The company expects further growth in client count and covered lives by 2026.

Progyny maintains an impressive Net Promoter Score of 82, with near-100% client retention rates. Despite trading at only 10 times free cash flow, the company’s stock-based compensation raises this ratio to 30. With a net cash balance of over $300 million and a $200 million stock buyback, Progyny appears to have a promising future.

While Progyny lost Amazon as a major customer last year, the company’s exceptional growth in the latest quarter demonstrates its value proposition. Progyny’s focus on providing top-tier benefits seems to differentiate it from other companies. The company continues to gain traction globally, remaining indispensable to clients and their employees.

Read more at Nasdaq: Why Progyny Stock Is Soaring Today