Filing Flows › Progyny (PGNY) › Q2 2026 › vs Q1 2026
Progyny (PGNY) Q2 2026 vs Q1 2026 (quarter over quarter)
Progyny's revenue rose $22.0M (+7%) from $329M in Q1 2026 to $351M in Q2 2026. The biggest changes: Fertility benefits services revenue +$20.8M (+10%); Pharmacy benefits services revenue +$1.2M (+1%). Gross margin 25.5% against 25.3% (+0.2 pts).
Progyny, Q2 2026: revenue $351M (+5% year over year), operating margin 11.4%, net earnings $28.1M, operating cash flow $50.4M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 25.5% | 25.3% | +0.2 pts |
| Operating margin | 11.4% | 10.8% | +0.6 pts |
| Net margin | 8.0% | 7.4% | +0.6 pts |
| Free cash flow margin | 12.6% | 12.1% | +0.6 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Fertility benefits services revenue | $230M | $209M | $20.8M | +10% |
| Pharmacy benefits services revenue | $120M | $119M | $1.2M | +1% |
| Revenue | $351M | $329M | $22.0M | +7% |
| Gross profit | $89.3M | $83.1M | $6.2M | +7% |
| Cost of revenue | $261M | $245M | $15.8M | +6% |
| Other income, net | $1.1M | $1.5M | −$370K | -25% |
| Operating profit | $40.0M | $35.4M | $4.6M | +13% |
| Operating expenses | $49.3M | $47.7M | $1.6M | +3% |
| Pre-tax earnings | $41.1M | $36.9M | $4.3M | +12% |
| Net earnings | $28.1M | $24.2M | $3.8M | +16% |
| Income tax | $13.1M | $12.7M | $434K | +3% |
| Depreciation & amortization | $1.6M | $1.5M | $140K | +9% |
| Share-based compensation | $20.5M | $19.7M | $757K | +4% |
| Working capital & other | $272K | $513K | −$241K | -47% |
| Operating cash flow | $50.4M | $45.9M | $4.5M | +10% |
| Free cash flow (OCF − capex) | $44.2M | $39.6M | $4.6M | +12% |
| Capital expenditures | $6.2M | $6.3M | −$128K | -2% |
Questions
How much did Progyny's revenue grow quarter over quarter in Q2 2026?
Progyny's revenue rose $22.0M (+7%) from $329M in Q1 2026 to $351M in Q2 2026.
What drove Progyny's revenue change in Q2 2026?
Fertility benefits services revenue +$20.8M (+10%); Pharmacy benefits services revenue +$1.2M (+1%).