Progyny, Inc. Financials
This page shows Progyny, Inc. (PGNY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Progyny, Inc. has an operating margin of 5.8%, meaning the company retains $6 of operating profit per $100 of revenue. This below-average margin results in a low score of 29/100, suggesting thin profitability after operating expenses. This is up from 5.7% the prior year.
Progyny, Inc.'s revenue grew 7.2% year-over-year to $1.2B, a solid pace of expansion. This earns a growth score of 49/100.
Progyny, Inc. carries a low D/E ratio of 0.44, meaning only $0.44 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.80, Progyny, Inc. holds $2.80 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 92/100.
Progyny, Inc. converts 14.9% of revenue into free cash flow ($173.7M). This strong cash generation earns a score of 74/100.
Progyny, Inc.'s ROE of 12.9% shows moderate profitability relative to equity, earning a score of 51/100. This is up from 11.2% the prior year.
Progyny, Inc. scores 9.03, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.8B) relative to total liabilities ($185.0M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Progyny, Inc. passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Progyny, Inc. generates $3.30 in operating cash flow ($179.1M OCF vs $54.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Progyny, Inc. generated $1.2B in revenue in fiscal year 2024. This represents an increase of 7.2% from the prior year.
Progyny, Inc.'s EBITDA was $70.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.6% from the prior year.
Progyny, Inc. generated $173.7M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 6.2% from the prior year.
Progyny, Inc. reported $54.3M in net income in fiscal year 2024. This represents a decrease of 12.4% from the prior year.
Progyny, Inc. earned $0.57 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 8.1% from the prior year.
Progyny, Inc. held $162.3M in cash against $0 in long-term debt as of fiscal year 2024.
Progyny, Inc. had 85M shares outstanding in fiscal year 2024. This represents a decrease of 11.5% from the prior year.
Progyny, Inc.'s gross margin was 21.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.2 percentage points from the prior year.
Progyny, Inc.'s operating margin was 5.8% in fiscal year 2024, reflecting core business profitability. This is up 0.1 percentage points from the prior year.
Progyny, Inc.'s net profit margin was 4.7% in fiscal year 2024, showing the share of revenue converted to profit. This is down 1.0 percentage points from the prior year.
Progyny, Inc.'s ROE was 12.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 1.7 percentage points from the prior year.
Progyny, Inc. spent $300.3M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
Progyny, Inc. invested $5.4M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 48.3% from the prior year.
PGNY Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $313.3M-5.9% | $332.9M+2.7% | $324.0M+8.6% | $298.4M+10.6% | $269.9M-3.9% | $280.9M+0.5% | $279.4M+8.1% | $258.4M |
| Cost of Revenue | $240.5M-5.3% | $253.9M+2.3% | $248.2M+5.6% | $235.0M+10.3% | $213.0M-2.4% | $218.3M-0.2% | $218.7M+9.5% | $199.8M |
| Gross Profit | $72.8M-7.8% | $79.0M+4.2% | $75.8M+19.5% | $63.4M+11.5% | $56.9M-9.1% | $62.6M+3.3% | $60.6M+3.4% | $58.6M |
| R&D Expenses | $2.6M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $33.4M-7.8% | $36.2M+7.0% | $33.8M+5.7% | $32.0M+13.6% | $28.2M-4.5% | $29.5M-1.8% | $30.1M+2.5% | $29.3M |
| Operating Income | $21.5M-11.6% | $24.4M+0.8% | $24.2M+53.1% | $15.8M+14.4% | $13.8M-24.1% | $18.2M+19.8% | $15.2M+1.2% | $15.0M |
| Interest Expense | N/A | N/A | $632K | N/A | $742K-28.2% | $1.0M+46.5% | $706K-14.1% | $822K |
| Income Tax | $10.1M+1.4% | $10.0M-13.2% | $11.5M+61.1% | $7.1M+155.2% | $2.8M-44.5% | $5.0M+131.3% | $2.2M+261.5% | -$1.3M |
| Net Income | $13.9M-19.0% | $17.1M+13.6% | $15.1M+43.0% | $10.5M-21.8% | $13.5M-15.3% | $15.9M+6.1% | $15.0M-15.2% | $17.7M |
| EPS (Diluted) | $0.15-21.1% | $0.19+11.8% | $0.17+41.7% | $0.12-7.7% | $0.13-18.8% | $0.16+6.7% | $0.15-16.7% | $0.18 |
PGNY Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $795.2M+4.5% | $761.0M+4.2% | $730.3M+20.3% | $607.1M-19.8% | $756.6M+4.1% | $726.5M+6.6% | $681.5M+4.9% | $649.7M |
| Current Assets | $622.0M+4.6% | $594.4M+4.7% | $567.7M+20.1% | $472.7M-26.2% | $640.4M+4.8% | $611.3M+8.9% | $561.1M+6.5% | $527.1M |
| Cash & Equivalents | $134.0M+1.1% | $132.5M+21.3% | $109.2M-32.7% | $162.3M+66.8% | $97.3M-38.4% | $158.1M-7.3% | $170.6M+9.8% | $155.3M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $252.5M-7.1% | $271.9M-9.3% | $299.7M+27.4% | $235.3M-2.7% | $241.9M-10.0% | $268.8M+1.4% | $265.0M-15.4% | $313.2M |
| Goodwill | $20.0M0.0% | $20.0M+1.6% | $19.7M+26.5% | $15.5M+30.8% | $11.9M0.0% | $11.9M0.0% | $11.9M0.0% | $11.9M |
| Total Liabilities | $235.2M-4.4% | $245.9M-6.5% | $263.1M+42.2% | $185.0M-8.9% | $203.2M-3.8% | $211.1M-0.4% | $212.0M-5.9% | $225.3M |
| Current Liabilities | $210.5M-4.5% | $220.4M-7.0% | $237.1M+40.6% | $168.6M-9.3% | $185.9M-3.9% | $193.4M-0.2% | $193.9M-6.3% | $206.9M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $560.0M+8.7% | $515.0M+10.2% | $467.2M+10.7% | $422.1M-23.7% | $553.4M+7.4% | $515.4M+9.8% | $469.5M+10.6% | $424.4M |
| Retained Earnings | $190.3M+7.9% | $176.5M+10.7% | $159.4M+10.4% | $144.3M+60.4% | $90.0M+17.6% | $76.5M+26.2% | $60.6M+32.9% | $45.6M |
PGNY Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $50.7M-8.7% | $55.5M+11.4% | $49.8M-4.5% | $52.2M+38.5% | $37.7M-30.5% | $54.2M-28.7% | $76.0M+262.6% | $21.0M |
| Capital Expenditures | $4.7M-11.1% | $5.3M+85.3% | $2.8M+50.0% | $1.9M+178.3% | $681K-28.5% | $953K+25.6% | $759K-39.3% | $1.3M |
| Free Cash Flow | $46.0M-8.5% | $50.2M+7.0% | $47.0M-6.6% | $50.3M+35.9% | $37.0M-30.5% | $53.2M-29.3% | $75.3M+281.8% | $19.7M |
| Investing Cash Flow | -$42.7M-42.9% | -$29.9M+68.4% | -$94.6M-226.2% | $75.0M+180.3% | -$93.4M-45.2% | -$64.3M-9.2% | -$58.9M-465.4% | $16.1M |
| Financing Cash Flow | -$5.5M-135.6% | -$2.3M+29.2% | -$3.3M+94.2% | -$56.3M-1020.9% | -$5.0M-112.7% | -$2.4M-28.4% | -$1.8M+0.4% | -$1.8M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | $0 | $0-100.0% | $55.1M | $0 | $0 | $0 | $0 |
PGNY Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.2%-0.5pp | 23.7%+0.3pp | 23.4%+2.1pp | 21.3%+0.2pp | 21.1%-1.2pp | 22.3%+0.6pp | 21.7%-1.0pp | 22.7% |
| Operating Margin | 6.9%-0.5pp | 7.3%-0.1pp | 7.5%+2.2pp | 5.3%+0.2pp | 5.1%-1.4pp | 6.5%+1.0pp | 5.4%-0.4pp | 5.8% |
| Net Margin | 4.4%-0.7pp | 5.1%+0.5pp | 4.7%+1.1pp | 3.5%-1.5pp | 5.0%-0.7pp | 5.7%+0.3pp | 5.4%-1.5pp | 6.8% |
| Return on Equity | 2.5%-0.8pp | 3.3%+0.1pp | 3.2%+0.7pp | 2.5%+0.1pp | 2.4%-0.7pp | 3.1%-0.1pp | 3.2%-1.0pp | 4.2% |
| Return on Assets | 1.7%-0.5pp | 2.3%+0.2pp | 2.1%+0.3pp | 1.7%-0.1pp | 1.8%-0.4pp | 2.2%0.0pp | 2.2%-0.5pp | 2.7% |
| Current Ratio | 2.96+0.3 | 2.70+0.3 | 2.39-0.4 | 2.80-0.6 | 3.44+0.3 | 3.16+0.3 | 2.89+0.3 | 2.55 |
| Debt-to-Equity | 0.42-0.1 | 0.48-0.1 | 0.56+0.1 | 0.44+0.1 | 0.37-0.0 | 0.41-0.0 | 0.45-0.1 | 0.53 |
| FCF Margin | 14.7%-0.4pp | 15.1%+0.6pp | 14.5%-2.3pp | 16.8%+3.1pp | 13.7%-5.2pp | 18.9%-8.0pp | 26.9%+19.3pp | 7.6% |
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Frequently Asked Questions
What is Progyny, Inc.'s annual revenue?
Progyny, Inc. (PGNY) reported $1.2B in total revenue for fiscal year 2024. This represents a 7.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Progyny, Inc.'s revenue growing?
Progyny, Inc. (PGNY) revenue grew by 7.2% year-over-year, from $1.1B to $1.2B in fiscal year 2024.
Is Progyny, Inc. profitable?
Yes, Progyny, Inc. (PGNY) reported a net income of $54.3M in fiscal year 2024, with a net profit margin of 4.7%.
What is Progyny, Inc.'s earnings per share (EPS)?
Progyny, Inc. (PGNY) reported diluted earnings per share of $0.57 for fiscal year 2024. This represents a -8.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Progyny, Inc.'s EBITDA?
Progyny, Inc. (PGNY) had EBITDA of $70.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Progyny, Inc.'s gross margin?
Progyny, Inc. (PGNY) had a gross margin of 21.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Progyny, Inc.'s operating margin?
Progyny, Inc. (PGNY) had an operating margin of 5.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Progyny, Inc.'s net profit margin?
Progyny, Inc. (PGNY) had a net profit margin of 4.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Progyny, Inc.'s return on equity (ROE)?
Progyny, Inc. (PGNY) has a return on equity of 12.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Progyny, Inc.'s free cash flow?
Progyny, Inc. (PGNY) generated $173.7M in free cash flow during fiscal year 2024. This represents a -6.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Progyny, Inc.'s operating cash flow?
Progyny, Inc. (PGNY) generated $179.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Progyny, Inc.'s total assets?
Progyny, Inc. (PGNY) had $607.1M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Progyny, Inc.'s capital expenditures?
Progyny, Inc. (PGNY) invested $5.4M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does Progyny, Inc. buy back shares?
Yes, Progyny, Inc. (PGNY) spent $300.3M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Progyny, Inc. have outstanding?
Progyny, Inc. (PGNY) had 85M shares outstanding as of fiscal year 2024.
What is Progyny, Inc.'s current ratio?
Progyny, Inc. (PGNY) had a current ratio of 2.80 as of fiscal year 2024, which is generally considered healthy.
What is Progyny, Inc.'s debt-to-equity ratio?
Progyny, Inc. (PGNY) had a debt-to-equity ratio of 0.44 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Progyny, Inc.'s return on assets (ROA)?
Progyny, Inc. (PGNY) had a return on assets of 8.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Progyny, Inc.'s Altman Z-Score?
Progyny, Inc. (PGNY) has an Altman Z-Score of 9.03, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Progyny, Inc.'s Piotroski F-Score?
Progyny, Inc. (PGNY) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Progyny, Inc.'s earnings high quality?
Progyny, Inc. (PGNY) has an earnings quality ratio of 3.30x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Progyny, Inc.?
Progyny, Inc. (PGNY) scores 65 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.