Inogen (NASDAQ:INGN) Announces Earnings Results

Inogen (NASDAQ:INGN) posted its quarterly earnings data on Thursday. The medical technology company reported ($0.14) 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 return on equity of 12.89% and a negative net margin of 6.94%.

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%

Shares of INGN traded down $0.44 during trading hours on Friday, hitting $6.05. 599,111 shares of the stock traded hands, compared to its average volume of 222,691. Inogen has a 1-year low of $5.34 and a 1-year high of $9.13. The firm has a market capitalization of $163.83 million, a PE ratio of -6.72 and a beta of 1.55. The business has a fifty day moving average of $6.46 and a 200-day moving average of $6.38.

Insider Buying and Selling

In related news, EVP Boyer Jennifer M. Yi sold 10,938 shares of Inogen stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $6.60, for a total value of $72,190.80. Following the completion of the sale, the executive vice president directly owned 5,039 shares in the company, valued at $33,257.40. This trade represents a 68.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Inogen

Several institutional investors have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in Inogen by 30.1% during the 1st quarter. AQR Capital Management LLC now owns 564,032 shares of the medical technology company’s stock worth $4,022,000 after acquiring an additional 130,381 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Inogen during the first quarter worth $85,000. Goldman Sachs Group Inc. increased its holdings in Inogen by 16.9% in the first quarter. Goldman Sachs Group Inc. now owns 284,180 shares of the medical technology company’s stock valued at $2,026,000 after purchasing an additional 41,002 shares during the last quarter. Jane Street Group LLC bought a new position in Inogen during the first quarter worth about $463,000. Finally, Geode Capital Management LLC grew its position in shares of Inogen by 7.9% during the 2nd quarter. Geode Capital Management LLC now owns 615,279 shares of the medical technology company’s stock worth $4,326,000 after buying an additional 44,860 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

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.