Revenue Performance - Total revenue for Q3 2024 increased by 5.8% to $88.8 million from $84.0 million in Q3 2023, driven by higher demand and new customer gains [2]. - For the full year 2024, revenue is expected to range from approximately $329 million to $331 million, representing a growth of about 4% to 5% over the previous year [6]. - Total revenue for the three months ended September 30, 2024 was $88,834,000, representing a 5.8% increase compared to $83,967,000 in the same period of 2023 [16]. - Sales revenue for Q3 2024 was $74.9 million, up from $68.0 million in Q3 2023, while rental revenue decreased to $13.9 million from $16.0 million [13]. Profitability and Loss - GAAP net loss for Q3 2024 was $6.0 million, significantly reduced from $45.7 million in Q3 2023 [4]. - The company reported a basic net loss per share of $0.25 for Q3 2024, compared to $1.97 in Q3 2023 [13]. - Comprehensive loss for Q3 2024 was $4.1 million, a significant improvement from $46.4 million in Q3 2023 [13]. - Net loss for the nine months ended September 30, 2024 was $26,131,000, significantly improved from a net loss of $75,894,000 for the same period in 2023 [15]. - The company reported a GAAP net loss of $26,131 for the nine months ended September 30, 2024, compared to a loss of $75,894 in 2023 [19]. - Non-GAAP adjusted net loss was $14,586 for the nine months ended September 30, 2024, down from $28,825 in 2023 [19]. - Diluted EPS for 2024 was $(1.11), compared to $(3.28) in 2023 [19]. Cost Management - Total gross margin improved to 46.5% in Q3 2024, up from 40.2% in Q3 2023, primarily due to lower raw material costs [3]. - Total operating expenses decreased by 39.0% to $49.1 million in Q3 2024 compared to $80.5 million in Q3 2023, largely due to a one-time goodwill impairment charge in the prior year [3]. - Adjusted EBITDA was positive at $0.5 million in Q3 2024, compared to a negative $5.5 million in Q3 2023 [4]. - Adjusted EBITDA for the three months ended September 30, 2024 was $460,000, compared to an adjusted EBITDA loss of $5,456,000 in the same period of 2023 [17]. Sales Breakdown - Business-to-business domestic sales increased by 35.1% to $23,352,000 for the three months ended September 30, 2024, compared to $17,288,000 in 2023 [16]. - The company reported a significant increase in business-to-business international sales, which rose by 26.2% to $32,328,000 for the three months ended September 30, 2024, compared to $25,613,000 in 2023 [16]. - Direct-to-consumer domestic sales decreased by 23.2% to $19,249,000 for the three months ended September 30, 2024, down from $25,072,000 in 2023 [16]. - Units sold increased from 35,400 in the three months ended September 30, 2023 to 43,900 in the same period of 2024, a growth of approximately 23.5% [16]. Cash and Assets - Cash, cash equivalents, marketable securities, and restricted cash totaled $124.3 million as of September 30, 2024, an increase of $3.0 million from Q2 2024, with no debt outstanding [5]. - Cash and cash equivalents decreased from $125,492,000 as of December 31, 2023 to $105,690,000 as of September 30, 2024, a decline of approximately 15.8% [14]. - Total assets decreased from $326,194,000 in December 31, 2023 to $306,172,000 as of September 30, 2024, a decline of approximately 6.1% [14]. - Total current liabilities remained relatively stable, decreasing slightly from $72,496,000 in December 31, 2023 to $72,396,000 as of September 30, 2024 [14]. Other Financial Metrics - Amortization of intangibles increased to $3,227 in 2024 from $284 in 2023 [19]. - Stock-based compensation decreased to $5,704 in 2024 from $8,484 in 2023 [19]. - Acquisition-related expenses were $784 in 2024, down from $1,981 in 2023 [19]. - Restructuring-related charges were $3,426 in 2023, with no corresponding charge in 2024 [19]. - Impairment charges were $32,894 in 2023, with no impairment charges reported in 2024 [19]. - The change in fair value of earnout liability was $1,830 in 2024, with no corresponding figure in 2023 [19]. - The effective tax rate for the adjustments was 0% [19].

Inogen, Inc. (INGN) is well-poised for growth in the coming quarters, courtesy of high prospects in the portable oxygen concentrator (POC) space. The optimism, led by solid first-quarter 2024 performance and a strong product portfolio, seems justified. However, issues like stiff competition and forex volatility are major downsides. The Zacks Rank #3 (Hold) company's shares have risen 68.3% year to date compared with 6.2% growth of the industry. The S&P 500 has increased 22.5% during the same time frame. The ...

Inogen, Inc. (INGN) has witnessed strong momentum in the past six months period. Shares of the company have surged 46.8% compared with 1.8% growth of the industry. The S&P 500 composite has risen 10% during the same time frame. With healthy fundamentals and strong growth opportunities, this Zacks Rank #2 (Buy) company appears to be a solid wealth creator for its investors at the moment. Headquartered in Goleta, CA, Inogen develops, manufactures, and markets portable oxygen concentrators (POCs) used by patie ...

Inogen, Inc. (INGN) is well-poised for growth in the coming quarters, courtesy of high prospects in the portable oxygen concentrator (POC) space. The optimism, led by solid first-quarter 2024 performance and a strong product portfolio, seems justified. However, issues like stiff competition and forex volatility are major downsides. The Zacks Rank #2 (Buy) company's shares have risen 106.4% year to date compared with 9.2% growth of the industry. The S&P 500 has increased 17.7% during the same time frame. The ...

Inogen (INGN) witnessed strong momentum in the year-to-date period. Shares of the company have surged 127.1% compared with 9.1% growth of the industry. The S&P 500 composite has risen 17.4% during the same time frame. With healthy fundamentals and strong growth opportunities, this Zacks Rank #3 (Hold) company appears to be a solid wealth creator for its investors at the moment. Headquartered in Goleta, CA, Inogen develops, manufactures and markets portable oxygen concentrators (POCs), used by patients who s ...

For the quarter ended June 2024, Inogen (INGN) reported revenue of $88.77 million, up 6.1% over the same period last year. EPS came in at -$0.24, compared to -$0.42 in the year-ago quarter. The reported revenue represents a surprise of +7.80% over the Zacks Consensus Estimate of $82.34 million. With the consensus EPS estimate being -$0.54, the EPS surprise was +55.56%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission file ...

Inogen, Inc. (INGN) incurred an adjusted loss per share of 7 cents for the second quarter of 2024, narrower than the adjusted loss per share of 25 cents in the year-ago period. The Zacks Consensus Estimate was pegged at a loss of 54 cents per share. GAAP loss per share for the quarter was 24 cents, better than the year-earlier loss of 42 cents per share. Revenues in Detail Inogen registered revenues of $88.8 million for the second quarter, up 6.1% year over year. The figure beat the Zacks Consensus Estimate ...

Inogen, Inc. (NASDAQ:INGN) Q2 2024 Earnings Conference Call August 6, 2024 5:00 PM ET Company Participants Ryan Peterson - IR Kevin Smith - President and CEO Mike Bourque - CFO Conference Call Participants Lilia-Celine Lozada - JPMorgan James Beer - William Blair Colin Clark - Stifel Michael Matson - Needham & Company Operator Welcome to Inogen's Second Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded today, August 6, 2024. I would now like to t ...

Inogen (INGN) came out with a quarterly loss of $0.24 per share versus the Zacks Consensus Estimate of a loss of $0.54. This compares to loss of $0.42 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 55.56%. A quarter ago, it was expected that this produces oxygen concentrators for patients suffering from chronic respiratory conditions would post a loss of $0.76 per share when it actually produced a loss of $0.62, delivering a ...