• Progressive average gross margin for 2023 was 6.11%, a 36.69% increase from 2022.
• Progressive average gross margin for 2022 was 4.47%, a 68.76% increase from 2021.
• Progressive average gross margin for 2021 was 14.31%, a 6.47% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.