Filing Flows › Progyny (PGNY) › Q3 2026 › vs Q3 2025
Progyny (PGNY) Q3 2026 vs Q3 2025 (year over year)
Progyny's revenue rose $27.9M (+9%) from $313M in Q3 2025 to $341M in Q3 2026. The biggest changes: Fertility benefits services revenue +$21.4M (+11%); Pharmacy benefits services revenue +$6.5M (+6%). Gross margin 24.5% against 23.2% (+1.3 pts).
Progyny, Q3 2026: revenue $341M (+9% year over year), operating margin 10.3%, net earnings $26.3M, operating cash flow $56.6M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 24.5% | 23.2% | +1.3 pts |
| Operating margin | 10.3% | 6.9% | +3.4 pts |
| Net margin | 7.7% | 4.4% | +3.3 pts |
| Free cash flow margin | 13.8% | 14.7% | -0.8 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Fertility benefits services revenue | $223M | $202M | $21.4M | +11% |
| Pharmacy benefits services revenue | $118M | $111M | $6.5M | +6% |
| Revenue | $341M | $313M | $27.9M | +9% |
| Gross profit | $83.7M | $72.8M | $10.9M | +15% |
| Cost of revenue | $258M | $241M | $17.0M | +7% |
| Other income, net | $1.2M | $2.4M | −$1.2M | -49% |
| Operating profit | $35.2M | $21.5M | $13.7M | +63% |
| Operating expenses | $48.6M | $51.3M | −$2.8M | -5% |
| Pre-tax earnings | $36.4M | $24.0M | $12.5M | +52% |
| Net earnings | $26.3M | $13.9M | $12.4M | +89% |
| Income tax | $10.2M | $10.1M | $64K | +0.6% |
| Depreciation & amortization | $2.2M | $1.3M | $883K | +70% |
| Share-based compensation | $21.1M | $32.2M | −$11.1M | -34% |
| Working capital & other | $7.1M | $3.4M | $3.7M | +111% |
| Operating cash flow | $56.6M | $50.7M | $5.9M | +12% |
| Free cash flow (OCF − capex) | $47.2M | $46.0M | $1.3M | +3% |
| Capital expenditures | $9.4M | $4.7M | $4.7M | +100% |
Questions
How much did Progyny's revenue grow year over year in Q3 2026?
Progyny's revenue rose $27.9M (+9%) from $313M in Q3 2025 to $341M in Q3 2026.
What drove Progyny's revenue change in Q3 2026?
Fertility benefits services revenue +$21.4M (+11%); Pharmacy benefits services revenue +$6.5M (+6%).