How Progyny makes money

Period

FY2025

How does Progyny make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Progyny Inc. · FY2025 · year ended 2025-12-31

Revenue$1.3BGross profit$304M · 24%Cost of revenue$984M · 76%Operating income$85M · 7%Operating expenses$219M · 17%R&D$10M · 1%SG&A$147M · 11%Other opex$63M · 5%Pre-tax income$95M · 7%Other income$10M · 1%Net income$59M · 5%Income tax$37M · 3%Fertility Benefit Services$831M · 64%Pharmacy Benefit Services$458M · 36%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.