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Side-by-side financial comparison of Progyny, Inc. (PGNY) and VIEMED HEALTHCARE, INC. (VMD). Click either name above to swap in a different company.
Progyny, Inc. is the larger business by last-quarter revenue ($318.4M vs $76.2M, roughly 4.2× VIEMED HEALTHCARE, INC.). VIEMED HEALTHCARE, INC. runs the higher net margin — 7.4% vs 3.9%, a 3.5% gap on every dollar of revenue. On growth, VIEMED HEALTHCARE, INC. posted the faster year-over-year revenue change (25.5% vs 6.7%). Progyny, Inc. produced more free cash flow last quarter ($48.6M vs $9.7M). Over the past eight quarters, VIEMED HEALTHCARE, INC.'s revenue compounded faster (22.7% CAGR vs 7.0%).
Progyny, Inc. is a leading fertility and family building benefits provider operating primarily in the United States. It partners with employers to offer benefits including in vitro fertilization, fertility preservation, adoption assistance, and surrogacy support, serving millions of members across diverse industry segments.
Viemed Healthcare, Inc. is a medical technology firm specializing in respiratory care solutions. It develops, manufactures and distributes portable ventilators, respiratory therapy devices and related support services, catering to acute care, post-acute care and home care segments across North America, Europe and key Asia-Pacific markets for patients with respiratory conditions.
PGNY vs VMD — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $318.4M | $76.2M |
| Net Profit | $12.5M | $5.6M |
| Gross Margin | 24.1% | 57.9% |
| Operating Margin | 4.8% | 11.0% |
| Net Margin | 3.9% | 7.4% |
| Revenue YoY | 6.7% | 25.5% |
| Net Profit YoY | 18.5% | 30.7% |
| EPS (diluted) | $0.14 | $0.14 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $318.4M | $76.2M | ||
| Q3 25 | $313.3M | $71.9M | ||
| Q2 25 | $332.9M | $63.1M | ||
| Q1 25 | $324.0M | $59.1M | ||
| Q4 24 | $298.4M | $60.7M | ||
| Q3 24 | $286.6M | $58.0M | ||
| Q2 24 | $304.1M | $55.0M | ||
| Q1 24 | $278.1M | $50.6M |
| Q4 25 | $12.5M | $5.6M | ||
| Q3 25 | $13.9M | $3.5M | ||
| Q2 25 | $17.1M | $3.2M | ||
| Q1 25 | $15.1M | $2.6M | ||
| Q4 24 | $10.5M | $4.3M | ||
| Q3 24 | $10.4M | $3.9M | ||
| Q2 24 | $16.5M | $1.5M | ||
| Q1 24 | $16.9M | $1.6M |
| Q4 25 | 24.1% | 57.9% | ||
| Q3 25 | 23.2% | 57.5% | ||
| Q2 25 | 23.7% | 58.3% | ||
| Q1 25 | 23.4% | 56.3% | ||
| Q4 24 | 21.3% | 59.5% | ||
| Q3 24 | 20.7% | 59.3% | ||
| Q2 24 | 22.5% | 59.8% | ||
| Q1 24 | 22.4% | 58.9% |
| Q4 25 | 4.8% | 11.0% | ||
| Q3 25 | 6.9% | 7.8% | ||
| Q2 25 | 7.3% | 8.1% | ||
| Q1 25 | 7.5% | 6.5% | ||
| Q4 24 | 5.3% | 10.6% | ||
| Q3 24 | 4.3% | 9.7% | ||
| Q2 24 | 6.8% | 6.6% | ||
| Q1 24 | 6.7% | 4.4% |
| Q4 25 | 3.9% | 7.4% | ||
| Q3 25 | 4.4% | 4.9% | ||
| Q2 25 | 5.1% | 5.0% | ||
| Q1 25 | 4.6% | 4.4% | ||
| Q4 24 | 3.5% | 7.1% | ||
| Q3 24 | 3.6% | 6.7% | ||
| Q2 24 | 5.4% | 2.7% | ||
| Q1 24 | 6.1% | 3.2% |
| Q4 25 | $0.14 | $0.14 | ||
| Q3 25 | $0.15 | $0.09 | ||
| Q2 25 | $0.19 | $0.08 | ||
| Q1 25 | $0.17 | $0.06 | ||
| Q4 24 | $0.12 | $0.10 | ||
| Q3 24 | $0.11 | $0.10 | ||
| Q2 24 | $0.17 | $0.04 | ||
| Q1 24 | $0.17 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $112.2M | $13.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $516.0M | $141.5M |
| Total Assets | $742.4M | $199.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $112.2M | $13.5M | ||
| Q3 25 | $134.0M | $11.1M | ||
| Q2 25 | $132.5M | $20.0M | ||
| Q1 25 | $109.2M | $10.2M | ||
| Q4 24 | $162.3M | $17.5M | ||
| Q3 24 | $91.5M | $11.3M | ||
| Q2 24 | $95.0M | $8.8M | ||
| Q1 24 | $115.0M | $7.3M |
| Q4 25 | $516.0M | $141.5M | ||
| Q3 25 | $560.0M | $133.6M | ||
| Q2 25 | $515.0M | $139.7M | ||
| Q1 25 | $467.2M | $134.8M | ||
| Q4 24 | $422.1M | $131.4M | ||
| Q3 24 | $434.9M | $125.0M | ||
| Q2 24 | $456.2M | $119.4M | ||
| Q1 24 | $571.6M | $116.3M |
| Q4 25 | $742.4M | $199.2M | ||
| Q3 25 | $795.2M | $202.4M | ||
| Q2 25 | $761.0M | $184.6M | ||
| Q1 25 | $730.3M | $178.1M | ||
| Q4 24 | $607.1M | $177.1M | ||
| Q3 24 | $660.0M | $169.5M | ||
| Q2 24 | $698.6M | $163.9M | ||
| Q1 24 | $794.3M | $154.9M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $54.2M | $18.4M |
| Free Cash FlowOCF − Capex | $48.6M | $9.7M |
| FCF MarginFCF / Revenue | 15.3% | 12.7% |
| Capex IntensityCapex / Revenue | 1.8% | 11.5% |
| Cash ConversionOCF / Net Profit | 4.34× | 3.27× |
| TTM Free Cash FlowTrailing 4 quarters | $191.8M | $11.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.2M | $18.4M | ||
| Q3 25 | $50.7M | $18.4M | ||
| Q2 25 | $55.5M | $12.3M | ||
| Q1 25 | $49.8M | $2.9M | ||
| Q4 24 | $52.2M | $15.0M | ||
| Q3 24 | $44.5M | $12.7M | ||
| Q2 24 | $56.7M | $10.2M | ||
| Q1 24 | $25.7M | $1.2M |
| Q4 25 | $48.6M | $9.7M | ||
| Q3 25 | $46.0M | $10.7M | ||
| Q2 25 | $50.2M | $4.1M | ||
| Q1 25 | $47.0M | $-12.6M | ||
| Q4 24 | $50.3M | $3.2M | ||
| Q3 24 | $42.7M | $1.7M | ||
| Q2 24 | $55.8M | $1.2M | ||
| Q1 24 | $24.9M | $-4.8M |
| Q4 25 | 15.3% | 12.7% | ||
| Q3 25 | 14.7% | 14.9% | ||
| Q2 25 | 15.1% | 6.5% | ||
| Q1 25 | 14.5% | -21.4% | ||
| Q4 24 | 16.8% | 5.2% | ||
| Q3 24 | 14.9% | 3.0% | ||
| Q2 24 | 18.4% | 2.3% | ||
| Q1 24 | 8.9% | -9.5% |
| Q4 25 | 1.8% | 11.5% | ||
| Q3 25 | 1.5% | 10.6% | ||
| Q2 25 | 1.6% | 12.9% | ||
| Q1 25 | 0.9% | 26.2% | ||
| Q4 24 | 0.6% | 19.5% | ||
| Q3 24 | 0.6% | 19.0% | ||
| Q2 24 | 0.3% | 16.3% | ||
| Q1 24 | 0.3% | 11.9% |
| Q4 25 | 4.34× | 3.27× | ||
| Q3 25 | 3.65× | 5.23× | ||
| Q2 25 | 3.24× | 3.88× | ||
| Q1 25 | 3.31× | 1.09× | ||
| Q4 24 | 4.95× | 3.47× | ||
| Q3 24 | 4.27× | 3.29× | ||
| Q2 24 | 3.44× | 6.94× | ||
| Q1 24 | 1.52× | 0.73× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PGNY
| Fertility Benefit Services | $208.6M | 66% |
| Pharmacy Benefit Services | $109.8M | 34% |
VMD
Segment breakdown not available.
