Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $48.6M | $105M | $230M | $345M | $501M | $787M | $1.09B | $1.17B | $1.29B |
| Revenue growth | — | 116.9% | 117.9% | 50.1% | 45.2% | 57.2% | 38.3% | 7.2% | 10.4% |
| Gross profit | $7.40M | $19.4M | $45.5M | $70.1M | $112M | $167M | $239M | $253M | $304M |
| Gross margin | 15.2% | 18.4% | 19.8% | 20.3% | 22.4% | 21.3% | 21.9% | 21.7% | 23.6% |
| Operating income | -$11.0M | -$3.45M | $9.68M | $8.35M | $32.3M | $23.3M | $62.2M | $67.5M | $85.3M |
| Operating margin | -22.7% | -3.3% | 4.2% | 2.4% | 6.5% | 3.0% | 5.7% | 5.8% | 6.6% |
| Net income | -$12.5M | $661K | -$8.57M | $46.5M | $65.8M | $30.4M | $62.0M | $54.3M | $58.5M |
| Net margin | -25.6% | 0.6% | -3.7% | 13.5% | 13.1% | 3.9% | 5.7% | 4.7% | 4.5% |
| EPS (diluted) | -$2.37 | $0.04 | -$0.41 | $0.47 | $0.66 | $0.30 | $0.62 | $0.57 | $0.65 |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$9.47M | $2.27M | -$1.53M | $36.2M | $26.0M | $80.4M | $189M | $179M | $210M |
| Capital expenditures | $612K | $579K | $2.96M | $1.04M | $2.13M | $3.24M | $3.64M | $5.41M | $18.4M |
| Free cash flow | -$10.1M | $1.69M | -$4.49M | $35.2M | $23.9M | $77.2M | $185M | $174M | $192M |
| Share buybacks | — | $1.21M | $185K | — | — | $0.00 | $0.00 | $300M | $81.7M |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | — | $127K | $80.4M | $70.3M | $91.4M | $120M | $97.3M | $162M | $112M |
| Total assets | — | $41.3M | $150M | $254M | $358M | $543M | $757M | $607M | $742M |
| Total liabilities | — | $30.2M | $36.2M | $87.0M | $106M | $166M | $203M | $185M | $226M |
| Shareholders' equity | -$97.6M | -$95.1M | $114M | $167M | $252M | $377M | $553M | $422M | $516M |
| Retained earnings | — | -$105M | -$113M | -$68.2M | -$2.42M | $27.9M | $90.0M | $144M | $203M |
| Shares (wtd avg diluted) | 5.68M | 5.54M | 20.7M | 99.1M | 100M | 100.0M | 101M | 95.4M | 89.9M |
Every figure is extracted from Progyny, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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