Inogen(US:INGN)2025-11-05 12:36Financial Performance - Total revenue for Q3 2025 was $92.4 million, representing a 4.0% increase year-over-year, marking the seventh consecutive quarter of mid-single-digit revenue growth [4] - GAAP net loss for Q3 2025 was $5.3 million, an improvement from a net loss of $6.0 million in the prior-year period [6] - Adjusted EBITDA for Q3 2025 was $2.3 million, compared to $0.5 million in the prior-year period, indicating the third consecutive quarter of positive adjusted EBITDA [7] - For the full year 2025, the company reiterates its revenue outlook in the range of $354 million to $357 million, reflecting approximately 6% growth at the midpoint compared to 2024 revenue [9] - The fourth quarter 2025 revenue is expected to be in the range of $87 million to $90 million, indicating approximately 10% year-over-year growth at the midpoint [10] - Adjusted net loss for Q3 2025 was $0.5 million, compared to an adjusted net loss of $2.6 million in the prior-year period [6] - Net loss for the nine months ended September 30, 2025, was $15,620,000, an improvement from a net loss of $26,131,000 in the same period of 2024 [26] - For the three months ended September 30, 2025, the company reported a net loss of $5,294 million, compared to a net loss of $5,963 million in the same period of 2024, representing a 11.2% improvement [31] - The total loss from operations for the nine months ended September 30, 2025, was $20,901 million, a decrease of 32.8% compared to a loss of $31,130 million in 2024 [31] Cash and Assets - The company has cash, cash equivalents, marketable securities, and restricted cash totaling $124.5 million as of September 30, 2025, with no debt outstanding [8] - Total current assets rose to $203,715,000 as of September 30, 2025, compared to $185,451,000 at the end of 2024, marking a 9.0% increase [24] - Cash and cash equivalents as of September 30, 2025, were $106,476,000, down from $113,795,000 at the end of 2024 [24] - The company reported a net cash used in operating activities of $10,273,000 for the nine months ended September 30, 2025, compared to a net cash provided of $8,932,000 in the same period of 2024 [26] Sales and Market Performance - Business-to-business international sales increased by 18.8% to $38,403,000 from $32,328,000 year-over-year [28] - Direct-to-consumer domestic sales declined by 17.9% to $15,803,000 from $19,249,000 year-over-year [28] - Units sold in Q3 2025 reached 51,100, up from 43,900 in Q3 2024, indicating a growth of 16.3% [28] Expenses and Liabilities - Total operating expense for Q3 2025 was $48.4 million, a decrease of 1.4% from $49.1 million in the prior-year period, reflecting ongoing cost management efforts [5] - Total liabilities decreased to $109,834,000 from $122,325,000, reflecting a reduction of approximately 10.1% [24] - The adjusted operating expenses for the nine months ended September 30, 2025, were $128,310 million, down from $138,037 million in 2024, indicating a decrease of 7.3% [31] Other Financial Metrics - Total gross margin for Q3 2025 was 44.7%, down from 46.5% in the prior-year period, primarily due to increased business-to-business sales [5] - The diluted EPS for the three months ended September 30, 2025, was $(0.20), an improvement from $(0.25) in 2024, reflecting a 20% reduction in losses per share [31] - Non-GAAP adjusted net loss for the three months ended September 30, 2025, was $(462) million, compared to $(2,605) million in 2024, showing a significant reduction of 82.3% [31] Legal and Settlement Expenses - The company incurred $1,784 million in legal and settlement expenses for the nine months ended September 30, 2025, consistent with the same amount in 2024 [31] - The company reported acquisition-related expenses of $127 million for the three months ended September 30, 2024, with no such expenses reported in 2025 [31] - The change in fair value of earnout liability for the nine months ended September 30, 2024, was $1,830 million, with no such adjustments reported in 2025 [31] Stock-Based Compensation and Amortization - Stock-based compensation for the nine months ended September 30, 2025, was $6,203 million, compared to $5,704 million in 2024, representing an 8.7% increase [31] - Amortization of intangibles for the three months ended September 30, 2025, was $1,285 million, up from $1,107 million in 2024, reflecting a 15.9% increase [31]