Filing Flows › Progyny (PGNY) › Q3 2026
Progyny (PGNY) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Progyny (PGNY) reported revenue of $341M for the third quarter 2026 (Q3 2026), +9% from a year earlier and -3% from the quarter before. Operating margin was 10.3%, net earnings $26.3M (7.7% of revenue).
Progyny, Q3 2026: revenue $341M (+9% year over year), operating margin 10.3%, net earnings $26.3M, operating cash flow $56.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $341M | -3% | +9% |
| Gross profit | $83.7M | -6% | +15% |
| Operating profit | $35.2M | -12% | +63% |
| Net earnings | $26.3M | -6% | +89% |
| Operating cash flow | $56.6M | +12% | +12% |
| Free cash flow | $47.2M | +7% | +3% |
What changed
Revenue was $341.3M in Q3 2026, up 9% year over year and down 3% from the previous quarter. Fertility benefits services revenue was the largest line at 65% of revenue. Fertility benefits services revenue added $21.4M year over year (up 11%), 77% of the total change.
Gross margin was 24.5%, up 1.3 points from Q3 2025. Operating profit was $35.2M, a 10.3% margin (up 3.4 points year over year). Of the extra revenue versus Q3 2025, 49% reached operating profit, above the 7% margin then. Operating expenses fell 5% while revenue rose 9%. Net earnings were $26.3M, up 89% year over year. The effective tax rate was 27.9%.
Operating cash flow was $56.6M (up 12% year over year), 216% of net earnings. Non-cash charges added back $2.2M of depreciation and amortization and $21.1M of share-based compensation. Working capital and other items added $7.1M. Capital expenditures of $9.4M left free cash flow of $47.2M.
Questions
What was Progyny's revenue in the third quarter 2026?
Progyny (PGNY) reported revenue of $341M for the third quarter 2026 (Q3 2026), +9% from a year earlier and -3% from the quarter before.
Was Progyny profitable in the third quarter 2026?
Operating profit was $35.2M (10.3% of revenue) and net earnings $26.3M.
Source: Progyny 10-Q on SEC EDGAR.