Progyny, Inc. (PGNY) Revenue History
Annual and quarterly revenue from 2017 to present
PGNY Revenue Over Time (2017–2025)
PGNY Revenue Growth History
8 of 8 years with positive growth- FY2017 revenue growth
- N/A
- FY2018 revenue growth
- +116.9%
- FY2019 revenue growth
- +117.9%
- FY2020 revenue growth
- +50.1%
- FY2021 revenue growth
- +45.2%
- FY2022 revenue growth
- +57.2%
- FY2023 revenue growth
- +38.3%
- FY2024 revenue growth
- +7.2%
- FY2025 revenue growth
- +10.4%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $328.5M | +1.4% |
| Q4 2025 | $318.4M | +6.7% |
| Q3 2025 | $313.3M | +9.3% |
| Q2 2025 | $332.9M | +9.5% |
| Q1 2025 | $324.0M | +16.5% |
| Q4 2024 | $298.4M | +10.6% |
| Q3 2024 | $286.6M | +2.0% |
| Q2 2024 | $304.1M | +8.8% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
PGNY's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
PGNY Revenue Analysis (2017–2025)
Current Revenue & Growth
As of June 28, 2026, Progyny, Inc. (PGNY) generated trailing twelve-month (TTM) revenue of $1.29 billion, reflecting modest growth of +1.4% year-over-year. The most recent quarter (Q1 2026) recorded $328.5 million in revenue, up 3.2% sequentially.
Historical Growth Trajectory
PGNY's 5-year compound annual growth rate (CAGR) stands at +30.2%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +17.9% is below the 5-year average, signalling a growth deceleration in recent years. Progyny, Inc.'s highest annual revenue of $1.29 billion was recorded in 2025, an all-time high.
Revenue by Segment
PGNY's revenue is primarily driven by Fertility benefit services revenue (64%), and Pharmacy benefit services revenue (36%). With over half of revenue concentrated in Fertility benefit services revenue, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Healthcare sector peers — including HIMS (+32.8% YoY), LFST (+16.5% YoY), and GDRX (-1.2% YoY) — PGNY has underperformed the peer group in revenue growth. Compare PGNY vs HIMS →
PGNY Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| PGNYCurrent | $1.3B | +1.4% | +30.2% | 6.6% | |
 HIMS | $2.3B | +32.8% | +73.6% | 4.5% | |
 LFST | $1.4B | +16.5% | +30.4% | 1.8% | |
 GDRX | $797M | -1.2% | +7.7% | 11.0% | |
 CVS | $402.1B | +7.6% | +8.4% | 2.6% | |
 CI | $275.0B | +8.8% | +11.4% | 3.3% |
PGNY Historical Revenue Data (2017–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.29B | +10.4% | $304.5M | 23.6% | $85.3M | 6.6% |
| 2024 | $1.17B | +7.2% | $253.4M | 21.7% | $67.5M | 5.8% |
| 2023 | $1.09B | +38.3% | $238.8M | 21.9% | $62.2M | 5.7% |
| 2022 | $786.9M | +57.2% | $167.3M | 21.3% | $23.3M | 3.0% |
| 2021 | $500.6M | +45.2% | $112.1M | 22.4% | $32.3M | 6.5% |
| 2020 | $344.9M | +50.1% | $70.1M | 20.3% | $8.3M | 2.4% |
| 2019 | $229.7M | +117.9% | $45.5M | 19.8% | $9.7M | 4.2% |
| 2018 | $105.4M | +116.9% | $19.4M | 18.4% | $-3,452,000 | -3.3% |
| 2017 | $48.6M | - | $7.4M | 15.2% | $-11,005,000 | -22.7% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
9+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
PGNY — Frequently Asked Questions
Quick answers to the most common questions about buying PGNY stock.
Is PGNY's revenue growth accelerating or slowing?
PGNY revenue growth is slowing. TTM revenue is $1.3B, up +1.4% year-over-year — below the 5-year CAGR of +30.2%. The deceleration suggests maturing end-markets or increased competition.
What is PGNY's revenue history from 2017 to 2026?
Progyny, Inc. (PGNY) revenue history spans 2017 to 2026. TTM revenue as of 2026 is $1.3B, growing at +1.4% YoY. The 5-year CAGR is +30.2%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is PGNY's long-term revenue growth rate (CAGR)?
Progyny, Inc.'s 5-year revenue CAGR of +30.2% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of +1.4% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for PGNY.
Why does PGNY's quarterly revenue fluctuate?
PGNY quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Progyny, Inc.'s revenue data from 2017 to 2026 shows full historical quarterly detail on this page.
How is PGNY's revenue distributed by segment?
PGNY reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does PGNY's revenue compare to industry peers?
Progyny, Inc. (PGNY) with TTM revenue of $1.3B and +1.4% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.