$INGN

Inogen Inc

CIK:0001294133|SEC Filings

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue
Sales revenue	$ 83,525	$ 79,172	$ 155,929	$ 147,642
Rental revenue	11,559	13,105	24,264	26,915
Total revenue	95,084	92,277	180,193	174,557
Cost of revenue
Cost of sales revenue	44,949	43,469	85,126	81,552
Cost of rental revenue, including depreciation of $2,475 and $3,017 for the three months ended and $5,103 and $6,051 for the six months ended, respectively	6,863	7,467	13,932	15,292
Total cost of revenue	51,812	50,936	99,058	96,844
Gross profit
Gross profit-sales revenue	38,576	35,703	70,803	66,090
Gross profit-rental revenue	4,696	5,638	10,332	11,623
Total gross profit	43,272	41,341	81,135	77,713
Operating expense
Research and development	5,871	5,209	10,968	9,243
Sales and marketing	24,824	25,390	49,427	49,147
General and administrative	17,673	16,871	35,172	33,108
Total operating expense	48,368	47,470	95,567	91,498
Loss from operations	(5,096)	(6,129)	(14,432)	(13,785)
Other income
Interest income, net	861	1,123	1,741	2,152
Other income, net	231	701	189	1,057
Total other income, net	1,092	1,824	1,930	3,209
Loss before benefit for income taxes	(4,004)	(4,305)	(12,502)	(10,576)
Benefit for income taxes	(154)	(153)	(328)	(250)
Net loss	(3,850)	(4,152)	(12,174)	(10,326)
Other comprehensive (loss) income, net of tax
Change in foreign currency translation adjustment	(350)	3,926	(1,195)	5,781
Change in net unrealized (losses) gains on foreign currency hedging	(142)	36	(179)	(696)
Less: reclassification adjustment for net gains (losses) included in net loss	164	(606)	201	(739)
Total net change in unrealized gains (losses) on foreign currency hedging	22	(570)	22	(1,435)
Change in net unrealized (losses) gains on marketable securities	(11)	42	6	42
Total other comprehensive (loss) income, net of tax	(339)	3,398	(1,167)	4,388
Comprehensive loss	$ (4,189)	$ (754)	$ (13,341)	$ (5,938)
Basic net loss per share attributable to common stockholders (Note 6)	$ (0.14)	$ (0.15)	$ (0.45)	$ (0.4)
Diluted net loss per share attributable to common stockholders (Note 6)	$ (0.14)	$ (0.15)	$ (0.45)	$ (0.4)
Weighted average number of shares used in calculating net loss per share attributable to common stockholders:
Basic shares of common stock	27,045,095	26,962,465	27,183,000	26,068,421
Diluted shares of common stock	27,045,095	26,962,465	27,183,000	26,068,421

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (12,174)	$ (10,326)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	9,601	10,405
Loss on rental units and other assets	1,261	1,655
Provision for sales revenue returns and doubtful accounts	3,845	3,248
Provision for inventory losses	681	447
Stock-based compensation expense	3,721	4,440
Deferred income taxes	(73)	80
Other	104	267
Changes in operating assets and liabilities:
Accounts receivable	(11,739)	(11,037)
Inventories	(6,225)	(23)
Prepaid expenses and other current assets	74	(2,609)
Operating lease right-of-use asset	1,617	1,687
Other noncurrent assets	965	861
Accounts payable and accrued expenses	5,738	5,612
Accrued payroll	2,218	(4,526)
Warranty reserve	65	638
Deferred revenue	(1,526)	(1,554)
Income tax payable	(180)	(135)
Operating lease liability	(1,712)	(1,748)
Earnout liability		(9,822)
Net cash used in operating activities	(3,739)	(12,440)
Cash flows from investing activities
Purchases of available-for-sale securities	(13,079)	(18,703)
Maturities of available-for-sale securities	10,670
Investment in property and equipment	(921)	(976)
Production and purchase of rental equipment	(1,779)	(4,932)
Net cash used in investing activities	(5,109)	(24,611)
Cash flows from financing activities
Proceeds from employee stock purchases	373	489
Payment of employment taxes related to vesting of restricted stock units	(622)	(570)
Repurchases of common stock	(7,498)
Payments of accrued earnout		(3,178)
Proceeds from issuance of common stock from securities purchase agreement		27,210
Net cash (used in) provided by financing activities	(7,747)	23,951
Effect of exchange rates on cash	156	642
Net decrease in cash, cash equivalents, and restricted cash	(16,439)	(12,458)
Cash, cash equivalents and restricted cash, beginning of period	105,018	117,415
Cash, cash equivalents and restricted cash, end of period	88,579	104,957
Supplemental disclosures of cash flow information
Cash paid during the period for income taxes, net of refunds received	482	482
Supplemental disclosure of non-cash transactions
Property and equipment in accounts payable and accrued expenses	$ 103	$ 360

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 87,276	$ 103,729
Marketable securities	18,263	15,848
Restricted cash	1,303	1,289
Accounts receivable, net	46,157	38,863
Inventories	28,633	25,969
Prepaid expenses and other current assets	12,504	12,601
Total current assets	194,136	198,299
Property and equipment, net	31,781	36,362
Goodwill	10,395	10,698
Intangible assets, net	27,447	30,763
Operating lease right-of-use asset	14,914	16,501
Other assets	6,899	6,002
Total assets	285,572	298,625
Current liabilities
Accounts payable and accrued expenses	39,678	33,941
Accrued payroll	12,796	10,629
Warranty reserve - current	10,414	10,116
Operating lease liability - current	3,253	3,163
Deferred revenue - current	4,723	5,503
Income tax payable	0	183
Total current liabilities	70,864	63,535
Long-term liabilities
Warranty reserve - noncurrent	17,961	18,194
Operating lease liability - noncurrent	12,541	14,313
Deferred revenue - noncurrent	2,857	3,603
Deferred tax liability	6,485	6,749
Total liabilities	110,708	106,394
Commitments and contingencies (Note 9)
Stockholders' equity
Common stock, $0.001 par value per share; 200,000,000 shares authorized; 26,730,437 and 27,232,350 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	27	27
Additional paid-in capital	359,519	363,545
Accumulated deficit	(187,758)	(175,584)
Accumulated other comprehensive income	3,076	4,243
Total stockholders' equity	174,864	192,231
Total liabilities and stockholders' equity	$ 285,572	$ 298,625