Inogen, Inc.

INGN

$5.46

+0.12%

2026-09-04 12:11:56 EDT+$0.01

Healthcare

Medical - Devices

NASDAQ

Active Trading

Inogen, Inc. operates as a medical technology enterprise dedicated to designing, fabricating, and distributing oxygen concentration equipment. These cutting-edge devices are engineered ...

Price Action of INGN

$5.46

+0.12%+$0.01

High—

Low—

52W High-40.2%

Rel. vol—

Interval

Range2.6h

Volume—SMA5SMA10

—

Inogen, Inc. (NASDAQ: INGN) is a leading global medical technology company specializing in the development and commercialization of portable oxygen concentrators (POCs) for patients with respiratory conditions such as COPD. Founded in 2001 by Ray Hughes, Brenton Taylor, and Byron Myers, Inogen was born out of a university business plan ...Inogen, Inc. (NASDAQ: INGN) is a leading global medical technology company specializing in the development and commercialization of portable oxygen concentrators (POCs) for patients with respiratory conditions such as COPD. Founded in 2001 by Ray Hughes, Brenton Taylor, and Byron Myers, Inogen was born out of a university business plan competition and has since revolutionized oxygen therapy by providing lightweight, battery-operated devices that allow patients to maintain an active lifestyle. The company's product portfolio includes the Inogen One series (G4, G5), the Rove 4 and Rove 6, and the Inogen At Home stationary concentrator, along with accessories like batteries, carrying cases, and the Inogen Connect wireless platform for remote monitoring and data management. Inogen sells its products through multiple channels: direct-to-consumer sales via its website and call centers, rental programs for patients, and sales to home medical equipment providers, hospitals, and government agencies in the U.S. and internationally. The company also offers Tidal Assist Ventilators and other respiratory products to diversify its offerings. Financially, Inogen has experienced significant revenue fluctuations, with a market cap around $168 million and a price-to-sales ratio of 0.47 as of the latest data. The company's gross profit margin is approximately 48.9%, but it has faced operational losses, with a negative net margin of -6.9% and negative EBITDA margin of -1.9%. However, Inogen maintains a strong balance sheet with minimal debt, a current ratio of 2.74, and substantial cash reserves. The company invests in research and development (6% of revenue) to innovate and maintain its competitive edge. Key leadership includes CEO Kevin R. Smith, who took the helm in November 2023, bringing experience from Sirtex Medical and other healthcare firms. Under his leadership, Inogen aims to expand its market presence, enhance its digital health capabilities, and improve operational efficiency. Despite challenges in the competitive respiratory device market, Inogen remains a trusted brand with a commitment to improving the quality of life for patients worldwide.ExpandCollapse

Founded

2001

Employees

753

CEO

Kevin R. Smith

Full Name

Inogen, Inc.

Sector

Healthcare

Industry

Medical - Devices

ROE

-13.17%

Market Cap

$0.14B

Current Ratio

2.74

WACC

11.18%

ROIC

-12.75%

Contact Information

https://www.inogen.com

805 562 0500

500 Cummings Center, Beverly, MA 01915

Key Metrics of INGN

Snapshot

Latest / TTM · 6 periods

Market Cap

$144.80M

ROCE

-13.9%

EV / EBITDA

-11.07x

-1.1% YoY

FCF Yield

-6.7%

+5.2% YoY

Cash Conversion Cycle

54.4d

Current Ratio

2.74

Quick take

TTM —

Positive CCC

Financial Highlights of INGN

Profitability trend

Latest / TTM · 6 periods

Gross Margin

48.9%

Net Margin

-6.9%

P/E Ratio

-5.98x

n/a

Debt / Equity

0.09

n/a

Current Ratio

2.74

Dividend Yield

0.0%

Understanding

TTM —

Interest coverage is weak

Calendar of INGN

Upcoming

Sep 30, 2026In 26 days
Q3 FY2026 · Estimated results
Est. EPS $-0.14 · Revenue $92.25M · 1 analysts
Dec 30, 2026
Q4 FY2026 · Estimated results
Est. EPS $-0.17 · Revenue $84.00M · 1 analysts
Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $-0.77 · Revenue $356.40M · 1 analysts
Mar 30, 2027
Q1 FY2027 · Estimated results
Est. EPS $-0.21 · Revenue $87.59M · 1 analysts

Recent history

Aug 7, 2026
Q2 FY2026 · Results reported
EPS $-0.14 · Revenue $95.08M
View filing
May 8, 2026
Q1 FY2026 · Results reported
EPS $-0.30 · Revenue $85.11M
View filing
Feb 27, 2026
FY2025 · Annual results
EPS $-0.85 · Revenue $348.67M
View filing
Nov 6, 2025
Q3 FY2025 · Results reported
EPS $-0.20 · Revenue $92.39M
View filing
Aug 8, 2025
Q2 FY2025 · Results reported
EPS $-0.15 · Revenue $92.28M
View filing
May 8, 2025
Q1 FY2025 · Results reported
EPS $-0.25 · Revenue $82.28M
View filing

Financial Statements of INGN

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$348.7M	+3.9%	+11.7%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$-22.7M	+36.6%	+53.7%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+47.6%	+3.2%	-7.3%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	-8.7%	+31.6%	+45.8%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	-6.5%	+39.0%	+58.6%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$-21.6M	-93.2%	+113.8%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	-6.2%	-86.0%	+112.3%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	9.1%	-18.6%	-2.4%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	3.12x	+29.1%	-11.7%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$298.6M	+0.8%	-0.1%

Actual vs Estimate

A Dec 31Q Sep 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	-0.85 vs -0.95	+10.5%	-0.14 vs -0.14	0.0%
Revenue Surprise	$348.7M vs $351.9M	-0.9%	$95.1M vs $92.3M	+3.1%

Insider Transactions of INGN

Acquisitions (A)

Since Jun 5, 2026

Disposals (D)

Since Jun 5, 2026

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Sep 1, 2026	Wright Mary E	officer: VP, Chief Accounting Officer	Common Stock	A	1,500	$5.33
Sep 1, 2026	Smith Kevin P.	officer: EVP, Bus Dev, GC & Sec	Common Stock	A	18,136	—
Sep 1, 2026	Smith Kevin P.	officer: EVP, Bus Dev, GC & Sec	Common Stock	D	8,671	$5.33
Sep 1, 2026	Smith Kevin P.	officer: EVP, Bus Dev, GC & Sec	Common Stock	A	1,500	$5.33
Sep 1, 2026	Smith Kevin P.	officer: EVP, Bus Dev, GC & Sec	Restricted Stock Unit	D	18,136	—

Earnings Call Transcript of INGN

1 transcript segments

Q2 2026

Unknown Speaker

Operator: Welcome to Inogen's Second Quarter 2026 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded today, August 6, 2026. I would now like to turn the call over to Lorna Williams, SVP of Investor Relations and Strategic Planning. Lorna Williams: Thank you all for participating in today's call. Joining me are President and CEO Kevin Smith; and CFO Jason Richardson. Earlier today, Inogen released financial results for the second quarter of 2026. The earnings release is available in the Investor Relations section of the company's website along with a supplemental financial package. During today's call, we will discuss non-GAAP financial measures that we believe provide useful information for investors. This information is not intended to be considered in isolation or as a substitute for GAAP financial information. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in today's earnings release and supplemental financial package. In addition, our discussion today will include forward-looking statements, including but not limited to expectations on our future financial and operating performance. We make these statements based on current expectations and reasonable assumptions. However, our actual results could differ due to risks and uncertainties. Please review our annual report and other SEC filings for discussion of risk factors that could cause our actual results to differ materially from any forward-looking statements made today. Forward-looking statements made on today's call speak only as of today, and Inogen undertakes no obligation to update or revise these statements except as required by law. The company has not provided a reconciliation of forward-looking adjusted EBITDA to the most directly comparable GAAP measure because certain items that impact net income are uncertain or outside the company's control and cannot be reasonably predicted without unreasonable effort. With that, I will turn the call over to Inogen's President and CEO, Kevin Smith. Kevin Smith: Good afternoon, and thank you for joining our second quarter conference call. Starting with the Q2 results, Q2 total revenue came in at $95.1 million, growing 3% year over year, due to a strong international growth, POC demand, and contribution from our new products, including Voxi and Aurora Mask. We believe that our continued strong POC unit volume growth of over 12% demonstrates that we continue to outpace market growth as we continue to gain traction with more U.S. distributors. In addition, we continue investing in product innovation and commercial leadership to expand our presence in the home respiratory care market with a long-term goal of consistently delivering high single-digit revenue growth. U.S. sales were $42.3 million in the quarter, as the strong mid-single-digit revenue growth in our B2B sales channel was not enough to offset the channel mix challenges in DTC. Results …

Leadership Team of INGN

12 executives

Name	Title	Compensation	Gender	Year Born	Status
Kevin R. Smith	President, Chief Executive Officer & Director	USD 739,254	Male	1971	Active
Jennifer Yi Boyer	Executive Vice President of Enterprise Enablement & Chief Human Resources Officer	USD 657,095	Female	1975	Active
Michael J. Bourque	Advisor	USD 646,379	Male	1963	Active
Grgoire Ramade	Executive Vice President & Chief Commercial Officer	USD 606,779	Male	1970	Active
Kevin Smith	General Counsel, Secretary & Executive Vice President of Business Development	USD 588,236	Male	1971	Active
Andrew Reding	Executive VP & COO	—	Male	1970	Active
Lorna Williams	Senior Vice President of Investor Relations	—	Female	—	Active
Dominic Hulton	Chief Marketing Officer	—	Male	—	Active
Naga Rameswamy	Chief Technology Officer	—	Male	—	Active
Mary Wright	VP & Chief Accounting Officer	—	Female	1987	Active
Philip Corrin	Senior Vice President of Operations & Supply Chain	—	Male	—	Active
Jason A. Richardson	CFO, Executive VP & Treasurer	—	Male	1977	Active

Recent News of INGN

Zacks Investment Research8/21/2026Neutral

Here's Why You Should Retain Inogen Stock in Your Portfolio for Now

INGN's POC demand, new products and international growth support its outlook, while U.S. channel shifts and distributor timing pose risks.

Defense World8/13/2026Neutral

Dimensional Fund Advisors LP Reduces Position in Inogen, Inc $INGN

Dimensional Fund Advisors LP decreased its holdings in Inogen, Inc (NASDAQ: INGN) by 28.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 509,822 shares of the medical technology company's stock after selling 201,558 shares during the period. Dimensional Fund

Zacks Investment Research8/11/2026Neutral

Should Investors Buy Inogen as Low Valuation Meets Execution Risk?

Inogen's steep sales-multiple discount, improving margins and firm international demand clash with U.S. sales and rental weakness.

Zacks Investment Research8/11/2026Neutral

Inogen Cuts 2026 Revenue Outlook as U.S. Channel Pressure Persists

INGN cuts its 2026 revenue outlook as U.S. channel pressure weighs, while international growth, new products and cost control offer support.

Zacks Investment Research8/10/2026Neutral

Inogen Q2 Earnings Beat Estimates, Sales Rise Y/Y, 2026 View Cut

INGN's Q2 revenues rise 3% as international sales climb 14.8%, but U.S. weakness led it to cut its 2026 revenue outlook.

Historical Employee Count of INGN

Current

753

Change

-1.70%

Minimum

753

Maximum

1,026

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 31, 2025	753	10-K	Feb 27, 2026	View
Dec 31, 2024	766	10-K	Feb 28, 2025	View
Dec 31, 2023	834	10-K	Mar 1, 2024	View
Dec 31, 2022	1,026	10-K	Feb 24, 2023	View
Dec 31, 2021	1,021	10-K	Feb 24, 2022	View

Related stocksMedical - Devices

Browse all US stocks →

About UsPrivacy PolicyTerms of ServiceDisclaimerStock DirectoryETFsIndices13F HoldingsAnalyst TargetsFree ToolsTechnology MapJoin our Slack

Plutux is not an investment adviser. Market data and AI-generated analysis are for information and education only, not investment advice. Disclaimer

Inogen, Inc.