Progyny sells fertility and women's health benefits to large self-insured employers in the U.S. Employers contract with Progyny to offer these benefits to their employees and dependents, replacing or supplementing standard health insurance fertility coverage. Progyny's core product is built around a proprietary plan design called the "Smart Cycle" — a bundled unit of care that covers everything needed for a complete fertility treatment, including diagnostics, procedures, and technologies like genetic testing. Progyny currently offers 20 different Smart Cycle bundles, and members can mix and match based on clinical needs. Alongside its fertility benefits solution, Progyny offers Progyny Rx, an integrated pharmacy benefit managing specialty fertility medications; 92% of Progyny's clients use Progyny Rx. As of year-end 2025, Progyny served over 590 employer clients covering roughly 7.2M lives. Revenue is driven by the volume of fertility procedures performed by members, as well as the number of covered lives and plan design. Growth comes from adding new employer clients, expanding within existing clients, and new solutions. Progyny is also expanding its platform into adjacent women's health areas, including pregnancy and postpartum support, menopause, parental leave navigation, and parent and child wellbeing — though these are not yet a material revenue driver. Progyny sells directly to employers through its own sales force, benefits consultants, and health plan partners including Cigna and CVS/Evernorth.