Inogen Inc
NASDAQ:INGN
Inogen Inc
Inogen, Inc. engages in the development, manufacture, and marketing of portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. The company is headquartered in Goleta, California and currently employs 1,021 full-time employees. The company went IPO on 2014-02-14. The firm primarily develops, manufactures, and markets portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. Its Inogen One systems concentrate the air around the patient to offer a single source of supplemental oxygen with a single battery and can be plugged into a power outlet as needed. All of its Inogen One systems are equipped with Intelligent Delivery Technology, a form of pulse-dose technology, from which the patient receives a bolus of oxygen upon inhalation. The company has also launched Inogen Connect, a wireless connectivity platform for the Inogen One G4 and Inogen One G5 (portable oxygen concentrators) consisting of a front-end mobile application for use by long-term oxygen therapy users and a back-end database portal for use by homecare providers.
Inogen, Inc. engages in the development, manufacture, and marketing of portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. The company is headquartered in Goleta, California and currently employs 1,021 full-time employees. The company went IPO on 2014-02-14. The firm primarily develops, manufactures, and markets portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. Its Inogen One systems concentrate the air around the patient to offer a single source of supplemental oxygen with a single battery and can be plugged into a power outlet as needed. All of its Inogen One systems are equipped with Intelligent Delivery Technology, a form of pulse-dose technology, from which the patient receives a bolus of oxygen upon inhalation. The company has also launched Inogen Connect, a wireless connectivity platform for the Inogen One G4 and Inogen One G5 (portable oxygen concentrators) consisting of a front-end mobile application for use by long-term oxygen therapy users and a back-end database portal for use by homecare providers.
Revenue Growth: Inogen reported its seventh consecutive quarter of mid-single-digit revenue growth, with Q3 revenue up 4% year-over-year to $92.4 million.
International Strength: International B2B sales were a key highlight, growing 19% year-over-year, with momentum across existing European markets and ongoing plans for future expansion.
Profitability Improvement: Adjusted EBITDA reached $2.3 million, marking the third straight profitable quarter on this metric; full-year guidance for adjusted EBITDA was raised to approximately $2 million.
Gross Margin Pressure: Total gross margin declined 182 basis points year-over-year to 44.7%, mainly due to a higher B2B sales mix and a one-time logistics adjustment impacting rental margins.
Product Innovation: The Voxi 5 stationary oxygen concentrator launched in Q3 with positive initial feedback, but material sales impact is expected in 2026 and beyond.
Guidance Reiterated: Full-year revenue guidance remains at $354–357 million (about 6% YoY growth midpoint); Q4 revenue expected between $87 million and $90 million, up roughly 10% year-over-year.
