Inogen (NASDAQ:INGN) Announces Quarterly Earnings Results

Inogen (NASDAQ:INGN) issued its quarterly earnings results on Thursday. The medical technology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01, FiscalAI reports. The company had revenue of $95.08 million for the quarter, compared to analyst estimates of $95.23 million. Inogen had a negative net margin of 6.94% and a negative return on equity of 12.89%.

Here are the key takeaways from Inogen’s conference call:

• Full-year revenue guidance was reduced to $355 million–$361 million from $366 million–$373 million, reflecting ongoing U.S. direct-channel pressure and the timing of international distributor inventory purchases. Management expects third-quarter revenue to be roughly flat year over year.
• International sales increased 15% year over year to $41.3 million, marking the tenth consecutive quarter of double-digit growth. Inogen cited expansion in Eastern Europe, Latin America, and Canada as longer-term growth drivers, although some distributor purchases may be delayed in the second half.
• Profitability improved, with adjusted EBITDA rising 15% year over year to $2.4 million and adjusted gross margin expanding to 45.6%. The company raised full-year adjusted EBITDA guidance to approximately $4 million, up 48% from 2025.
• New products are gaining traction: Boxy has shipped more than 5,000 units, while Aurora CPAP mask customer accounts more than doubled sequentially. Together, Boxy and Aurora contributed slightly more than 100 basis points of second-quarter growth and are expected to accelerate in the second half.
• U.S. POC unit volume grew at a high-single-digit rate, but U.S. revenue fell 2% and rental revenue declined 12% as HMEs increasingly prescribe portable concentrators at the start of therapy, reducing the traditional rental funnel. Management is reviewing options to improve the rental business while investing in B2B sales execution.

Inogen Trading Down 6.8%

NASDAQ:INGN traded down $0.44 during midday trading on Friday, reaching $6.05. The company had a trading volume of 599,111 shares, compared to its average volume of 222,691. The firm has a market capitalization of $163.83 million, a price-to-earnings ratio of -6.72 and a beta of 1.55. The stock’s fifty day simple moving average is $6.46 and its 200-day simple moving average is $6.38. Inogen has a 12-month low of $5.34 and a 12-month high of $9.13.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Inogen in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Insiders Place Their Bets

In other Inogen news, EVP Boyer Jennifer M. Yi sold 10,938 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $6.60, for a total transaction of $72,190.80. Following the sale, the executive vice president owned 5,039 shares in the company, valued at $33,257.40. This represents a 68.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Inogen

A number of institutional investors and hedge funds have recently made changes to their positions in INGN. Kent Lake PR LLC raised its holdings in Inogen by 5.7% in the second quarter. Kent Lake PR LLC now owns 1,061,294 shares of the medical technology company’s stock valued at $7,461,000 after acquiring an additional 57,700 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Inogen by 0.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 881,100 shares of the medical technology company’s stock worth $6,194,000 after acquiring an additional 6,573 shares in the last quarter. Armistice Capital LLC grew its holdings in Inogen by 30.1% during the 3rd quarter. Armistice Capital LLC now owns 864,000 shares of the medical technology company’s stock worth $7,059,000 after acquiring an additional 200,000 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Inogen by 7.9% in the 2nd quarter. Geode Capital Management LLC now owns 615,279 shares of the medical technology company’s stock valued at $4,326,000 after purchasing an additional 44,860 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Inogen by 37.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 589,273 shares of the medical technology company’s stock valued at $3,960,000 after purchasing an additional 160,960 shares during the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

About Inogen

Inogen, Inc (NASDAQ: INGN) is a medical device company specializing in the development, manufacture and marketing of innovative oxygen therapy solutions. The company’s core focus is on portable oxygen concentrators (POCs) designed to support patients with chronic respiratory conditions such as chronic obstructive pulmonary disease (COPD). Inogen’s offerings aim to provide users with mobility and independence by reducing reliance on traditional compressed-gas cylinders and enabling oxygen therapy on the go.

Inogen’s flagship product line, including the Inogen One family of portable oxygen concentrators, leverages proprietary flow technology to deliver continuous and pulse-dose oxygen.