Photon-counting CT (PCCT) systems acquire multiple spectral measurements at high spatial resolution, providing numerous image quality benefits while also increasing the amount of data that must be transferred through the gantry slip ring. This study proposes a lossy method to compress photon-counting CT data using eigenvector analysis, with the goal of providing image quality sufficient for applications that require a rapid initial reconstruction, such as to confirm anatomical coverage, scan quality, and to support automated advanced applications. The eigenbin compression method was experimentally evaluated on a clinical silicon PCCT prototype system. The proposed eigenbin method performs principal component analysis (PCA) on a set of PCCT calibration measurements. PCA finds the orthogonal axes or eigenvectors, which capture the maximum variance in the N dimensional photon-count data space, where N is the number of acquired energy bins. To reduce the dimensionality of the PCCT data, the data are linearly transformed into a lower dimensional space spanned by the M<N eigenvectors with highest eigenvalues (i.e., the vectors that account for most of the information in the data). Only M coefficients are then transferred per measurement, which we term eigenbin values. After transmission, the original N energy-bin measurements are estimated as a linear combination of the M eigenvectors. Two versions of the eigenbin method were investigated: pixel-specific and pixel-general. The pixel-specific eigenbin method determines eigenvectors for each individual detector pixel, while the more practically realizable pixel-general eigenbin method finds one set of eigenvectors for the entire detector array. The eigenbin method was experimentally evaluated by scanning a 20cm diameter Gammex Multienergy phantom with different material inserts on a clinical silicon-based PCCT prototype. The method was evaluated with the number of eigenbins varied between two and four. In each case, the eigenbins were used to estimate the original 8-bin data, after which material decomposition was performed. The mean, standard deviation, and contrast-to-noise ratio (CNR) of values in the reconstructed basis and virtual monoenergetic images (VMI) were compared for the original 8-bin data and for the eigenbin data. The pixel-specific eigenbin method reduced photon-counting CT data size by a factor of four with<5% change in mean values and a small noise penalty (mean change in noise of<12%, maximum change in noise of 20% for basis images). The pixel-general eigenbin compression method reduced data size by a factor of 2.67 with<5% change in mean values and a less than 10% noise penalty in the basis images (average noise penalty≤5%). The noise penalty and errors were less for the VMIs than for the basis images, resulting in<5% change in CNR in the VMIs. The eigenbin compression method reduced photon-counting CT data size by a factor of two to four with less than 5% change in mean values, noise penalty of less than 10%-20%, and change in CNR ranging from 15% decrease to 24% increase. Eigenbin compression reduces the data transfer time and storage space of photon-counting CT data for applications that require rapid initial reconstructions.