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Inogen Inc. (INGN) is a pioneering medical technology company committed to enhancing the quality of life for supplemental oxygen users. Founded in 2001, Inogen emerged from a personal story of necessity and innovation. The company's mission began when Mae, the grandmother of one of the founders, was prescribed oxygen therapy, highlighting the need for more user-friendly and portable oxygen solutions. You can learn more about Mae's story here.
Inogen aims to revolutionize oxygen therapy technology, striving to keep pace with the active lifestyles of patients who rely on oxygen to lead fulfilling lives. The company estimates that over 2.5 million patients in the United States and more than 4.5 million patients worldwide use oxygen therapy.
The company's flagship product, the Inogen One system, is a compact, lightweight, and travel-approved portable oxygen concentrator designed to liberate patients from the constraints of heavy tanks, frequent refills, and stationary systems. This innovation provides patients with the freedom and independence to live their lives by moments, not by the minutes left in an oxygen tank.
Inogen's products and services are sold through various channels, including home medical equipment providers, distributors, large gas companies, and home oxygen providers. The company also rents its products directly to patients, generating the majority of its revenue within the United States.
Inogen's commitment to continuous improvement is evident in its ongoing projects and recent achievements. The company constantly works toward refining its product offerings and expanding its reach to benefit more patients globally.
Inogen (NASDAQ: INGN) reported strong financial results for Q4 and full year 2024. Q4 revenue increased 5.5% to $80.1 million, while full-year revenue grew 6.4% to $335.7 million, driven by higher international and domestic B2B sales.
Q4 gross margin improved to 45.3% from 37.1% in 2023, with operating loss narrowing to $11.4 million from $29.0 million. Full-year operating loss improved to $42.5 million from $109.4 million in 2023. The company ended 2024 with $117.4 million in cash and no debt.
For 2025, Inogen projects Q1 revenue of $79-81 million (1-4% growth) and full-year revenue of $352-355 million (5-6% growth). The company recently announced a strategic collaboration with Yuwell, including a $27.2 million equity investment giving Yuwell a 9.9% stake.
Inogen (NASDAQ: INGN) announced changes to its Board of Directors, effective January 2025. Mira Kirti Sahney has been appointed as a new board member, while Tom West will retire after serving since April 2023.
Sahney brings significant medical device industry experience, currently serving on Claria Medical's board and previously as President of Medtronic's Pelvic Health Operating Unit (2021-2024). Her experience includes roles as CEO of Hyalex Orthopaedics, leadership positions at Smith + Nephew, and co-founding Myomo. She holds multiple engineering degrees from University of Michigan and Stanford, plus an MBA from MIT.
In her new role, Sahney will join Inogen's Compliance Committee and the Nominating and Governance Committee. The appointment aims to strengthen Inogen's position as a global leader in respiratory care.
Inogen (NASDAQ: INGN) has announced a strategic collaboration with Yuwell, a global home healthcare medical device manufacturer. The partnership includes three key components: distribution of respiratory products in the US and select territories, R&D collaboration to enhance Inogen's innovation pipeline, and expansion into the Chinese market.
As part of the agreement, Yuwell will invest $27.2 million for a 9.9% equity stake in Inogen, strengthening Inogen's balance sheet. The collaboration aims to broaden Inogen's product portfolio and global presence while accelerating its growth trajectory. The collaboration agreement is effective immediately, while the equity purchase is expected to close in Q1 2025.
Inogen (NASDAQ: INGN) has announced preliminary, unaudited revenue results for Q4 and full-year 2024. The company estimates Q4 2024 revenue between $79.0-80.0 million, representing 4-5% year-over-year growth. Full-year 2024 revenue is estimated at $334.5-335.5 million, showing 6% growth and exceeding previous guidance of $329-331 million.
Performance was driven by strong double-digit growth in business-to-business revenue, while the company works on stabilizing direct-to-consumer revenue. Notable achievements include the launch of Rove 4 and FDA clearance for the SIMEOX 200 device, expanding global product offerings. The company will report official Q4 and full-year 2024 results after market close on February 25, 2025.
Inogen (NASDAQ: INGN) has received FDA 510(k) clearance for its SIMEOX 200 Airway Clearance Device, expanding its respiratory product portfolio in the U.S. market. The device, which is an upgraded version of the original Simeox, uses high-frequency oscillatory vibrations and intermittent negative pressure during exhalation to enhance bronchial drainage in patients with chronic lung diseases such as Bronchiectasis, COPD, Cystic Fibrosis, and Primary Ciliary Dyskinesia.
The device is designed for patients capable of independently generating cough and can be used both in healthcare facilities and at home. Inogen plans a launch of SIMEOX 200 in targeted sites in 2025.
Inogen (NASDAQ: INGN) reported Q3 2024 financial results with total revenue increasing 5.8% to $88.8 million from $84.0 million in Q3 2023. Gross margin improved to 46.5% from 40.2% year-over-year. Operating expenses decreased 39.0% to $49.1 million. The company reported a GAAP net loss of $6.0 million, improved from a $45.7 million loss in Q3 2023. Adjusted EBITDA turned positive at $0.5 million compared to negative $5.5 million last year. Cash position strengthened to $124.3 million with no debt. The company updated its full-year 2024 revenue guidance to $329-331 million, projecting 4-5% growth.
Inogen (Nasdaq: INGN), a medical technology company specializing in innovative respiratory products for homecare, has announced its participation in two upcoming investor conferences. The company will present at the Stifel 2024 Healthcare Conference on November 18 at 9:10 a.m. ET and the Piper Sandler 36th Annual Healthcare Conference on December 4 at 10:30 a.m. ET. Live audio webcasts and recordings will be accessible through Inogen's Investor Relations website, which serves as their platform for disclosing material non-public information and maintaining Regulation FD compliance.
Inogen (Nasdaq: INGN), a medical technology company specializing in innovative respiratory products for homecare, has announced its plans to report third quarter 2024 financial results on November 7, 2024, after market close. The company will host a conference call at 2:00 p.m. PT / 5:00 p.m. ET on the same day.
Interested parties can join the call by dialing (877) 841-3961 for US domestic callers or (201) 689-8589 for non-US callers. A live audio webcast and archived recording will be available on the Inogen Investor Relations website. The webcast will be archived for 6 months, and a replay of the call will be accessible until November 14, 2024.
Inogen, Inc. (Nasdaq: INGN) has launched the Inogen® Rove 4™ Portable Oxygen Concentrator in the U.S. market. This innovative device offers:
- The highest oxygen output in the lightest weight 4-setting POC
- Up to 840ml/min of medical grade oxygen
- Weighs less than 3 lbs with standard battery
- Three battery configurations providing up to 5 hours and 45 minutes of operation
- Patented pulse-dose Intelligent Delivery Technology®
- Best-in-class expected service life of up to 8 years
The Rove 4 aims to empower patients with choices that may help them with normal activities of daily living. Kevin Smith, President and CEO, expressed excitement about the launch and its potential positive impact on patients requiring oxygen therapy.
Inogen (Nasdaq: INGN) has appointed Eric Pauls as Vice President of Sales, North America, effective September 3, 2024. Pauls joins from RQM+, where he was Chief Customer Officer. With over 20 years of experience in the respiratory care business, Pauls brings extensive expertise in driving growth and leading high-performing teams.
CEO Kevin Smith and CCO Gregoire Ramade expressed excitement about Pauls' addition to the team, highlighting his experience at Tactile Medical and Philips as valuable for expanding Inogen's product offerings and facilitating the U.S. rollout of Simeox. Pauls' background includes P&L management, business development, and portfolio expansion, making him well-suited to support Inogen's growth strategies in the respiratory products market.
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