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Inogen Inc

inogen.com

Inogen Inc (NASDAQ: INGN) is a medical technology company that develops, manufactures, and markets portable oxygen concentrators and related respiratory health products for patients with chronic respiratory conditions. Revenue comes from direct-to-consumer sales, business-to-business sales through home medical equipment providers, and rental of portable oxygen concentrators, with products sold in the United States and internationally. Core products include the Inogen One and Inogen Rove portable oxygen concentrator systems, the Inogen At Home and Voxi 5 stationary oxygen concentrators, the Simeox airway clearance device, and Aurora CPAP masks. The company targets patients suffering from COPD, bronchiectasis, and other chronic respiratory conditions requiring long-term supplemental oxygen therapy. Inogen holds trademark registrations across more than 30 countries and competes in a market where traditional oxygen delivery relies on compressed gas tanks and stationary concentrators.

Products & Services

Portable oxygen concentrators: Inogen One G3, Inogen One G4, Inogen One G5, Inogen Rove, Inogen Rove 4, Inogen Rove 6. Stationary oxygen concentrators: Inogen At Home, Inogen Voxi 5. Airway clearance device: Simeox (targets bronchiectasis patients). CPAP masks: Aurora. Wireless connectivity platform: Inogen Connect (mobile app for patients, portal for homecare providers). Proprietary Intelligent Delivery Technology (pulse-dose oxygen delivery).

Revenue Model

Inogen generates revenue through product sales directly to patients and through business-to-business sales to home medical equipment providers, plus rental income from portable oxygen concentrators. Reimbursement from Medicare, Medicaid, and private insurers is a material factor in end-market demand, as disclosed in the FY2025 10-K filed 2026-02-27.

Customers & Markets

End patients with chronic respiratory conditions including COPD, bronchiectasis, and other conditions requiring long-term supplemental oxygen therapy. Home medical equipment providers as business-to-business channel partners. Healthcare providers and homecare providers accessing the Inogen Connect back-end portal.

Geographic Exposure

United States (primary market, including direct-to-consumer and HME channel). International presence with trademark registrations in more than 30 countries including major European markets, Canada, Australia, Japan, China, South Korea, and others, as disclosed in the FY2025 10-K filed 2026-02-27.

Financial Snapshot

Revenue
TTM
$351.5M
Gross Margin
TTM
44.28%
Net Income
TTM
-$24.90M
Current Assets
2026 Q1
Current Liabilities
2026 Q1
Current Ratio
2026 Q1
310.29%
Total Assets
2026 Q1
Total Liabilities
2026 Q1
Book Value
2026 Q1
182.9M
Cash
2026 Q1
P/E
Last 4 Quarters
N/A
Free Cash Flow
TTM
-$9.666M

Stock Price

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Market Cap: $174.63 Million

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