$INGN
Inogen Inc

2015 Q3 Form 10-Q Financial Statement

#000156459015010342 Filed on November 10, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $40.78M $29.39M
YoY Change 38.73% 48.62%
Cost Of Revenue $16.05M $14.74M
YoY Change 8.83% 118.4%
Gross Profit $19.38M $14.65M
YoY Change 32.26% 51.93%
Gross Profit Margin 47.51% 49.84%
Selling, General & Admin $14.55M $10.28M
YoY Change 41.43% 27.25%
% of Gross Profit 75.07% 70.2%
Research & Development $1.116M $798.0K
YoY Change 39.85% 14.0%
% of Gross Profit 5.76% 5.45%
Depreciation & Amortization $3.560M $3.148M
YoY Change 13.09% 38.43%
% of Gross Profit 18.37% 21.49%
Operating Expenses $15.66M $11.08M
YoY Change 41.32% 26.56%
Operating Profit $3.714M $3.567M
YoY Change 4.12% 302.6%
Interest Expense $5.000K $104.0K
YoY Change -95.19% -7.96%
% of Operating Profit 0.13% 2.92%
Other Income/Expense, Net -$36.00K -$93.00K
YoY Change -61.29% 34.78%
Pretax Income $3.678M $3.474M
YoY Change 5.87% 325.21%
Income Tax $982.0K $1.341M
% Of Pretax Income 26.7% 38.6%
Net Earnings $2.696M $2.133M
YoY Change 26.39% 175.58%
Net Earnings / Revenue 6.61% 7.26%
Basic Earnings Per Share $0.14 $0.12
Diluted Earnings Per Share $0.13 $0.11
COMMON SHARES
Basic Shares Outstanding 19.43M 18.29M
Diluted Shares Outstanding 20.78M 20.21M

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $74.10M $56.20M
YoY Change 31.85% 228.65%
Cash & Equivalents $55.10M $56.16M
Short-Term Investments $19.00M
Other Short-Term Assets $7.900M $7.800M
YoY Change 1.28% 875.0%
Inventory $9.400M $7.300M
Prepaid Expenses
Receivables $20.90M $18.10M
Other Receivables $2.200M $0.00
Total Short-Term Assets $114.4M $89.30M
YoY Change 28.11% 182.59%
LONG-TERM ASSETS
Property, Plant & Equipment $31.70M $31.10M
YoY Change 1.93% 8.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.10M $16.50M
YoY Change -32.73% 5400.0%
Total Long-Term Assets $43.10M $47.90M
YoY Change -10.02% 63.48%
TOTAL ASSETS
Total Short-Term Assets $114.4M $89.30M
Total Long-Term Assets $43.10M $47.90M
Total Assets $157.5M $137.2M
YoY Change 14.8% 125.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.30M $11.20M
YoY Change 27.68% -2.61%
Accrued Expenses $4.600M $3.700M
YoY Change 24.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $311.0K $267.0K
YoY Change 16.48% -95.06%
Total Short-Term Liabilities $22.84M $20.48M
YoY Change 11.54% 6.64%
LONG-TERM LIABILITIES
Long-Term Debt $80.00K $391.0K
YoY Change -79.54% -94.08%
Other Long-Term Liabilities $321.0K $2.400M
YoY Change -86.63% 200.0%
Total Long-Term Liabilities $401.0K $391.0K
YoY Change 2.56% -94.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.84M $20.48M
Total Long-Term Liabilities $401.0K $391.0K
Total Liabilities $27.55M $23.25M
YoY Change 18.51% -12.93%
SHAREHOLDERS EQUITY
Retained Earnings -$48.97M -$58.21M
YoY Change -15.88%
Common Stock $178.9M $18.00K
YoY Change 993722.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $129.9M $113.9M
YoY Change
Total Liabilities & Shareholders Equity $157.5M $137.2M
YoY Change 14.81% 125.21%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $2.696M $2.133M
YoY Change 26.39% 175.58%
Depreciation, Depletion And Amortization $3.560M $3.148M
YoY Change 13.09% 38.43%
Cash From Operating Activities $11.85M $3.210M
YoY Change 269.16% -30.22%
INVESTING ACTIVITIES
Capital Expenditures -$560.0K -$460.0K
YoY Change 21.74% -62.3%
Acquisitions
YoY Change
Other Investing Activities -$6.250M -$3.380M
YoY Change 84.91% -18.94%
Cash From Investing Activities -$6.820M -$3.840M
YoY Change 77.6% -28.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.770M -12.25M
YoY Change -85.55% -432.88%
NET CHANGE
Cash From Operating Activities 11.85M 3.210M
Cash From Investing Activities -6.820M -3.840M
Cash From Financing Activities -1.770M -12.25M
Net Change In Cash 3.260M -12.88M
YoY Change -125.31% -545.67%
FREE CASH FLOW
Cash From Operating Activities $11.85M $3.210M
Capital Expenditures -$560.0K -$460.0K
Free Cash Flow $12.41M $3.670M
YoY Change 238.15% -36.94%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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us-gaap Proceeds From Issuance Initial Public Offering
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us-gaap Payments Of Stock Issuance Costs
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us-gaap Proceeds From Stock Plans
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us-gaap Proceeds From Stock Plans
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us-gaap Repayments Of Long Term Debt
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us-gaap Repayments Of Long Term Debt
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us-gaap Repayments Of Debt
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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42639000
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2014Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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us-gaap Nature Of Operations
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<div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1. General </p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:3.8%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;font-style:italic;font-weight:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">a)</p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:6pt;font-style:italic;font-weight:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Basis of presentation</p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The unaudited financial statements have been prepared on the same basis as the annual audited financial statements and reflect all normal and reoccurring adjustments necessary for the fair presentation of each of the periods presented.&#160;The results of operations for interim periods are not necessarily indicative of results to be achieved for full fiscal years or other interim periods.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Inogen, Inc. (Company or Inogen) was incorporated in Delaware on November&#160;27, 2001. The Company is a medical technology company that primarily develops, manufactures and markets innovative portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. Traditionally, these patients have relied on stationary oxygen concentrator systems for use in the home and oxygen tanks or cylinders for mobile use, which the Company calls the delivery model. The tanks and cylinders must be delivered regularly and have a finite amount of oxygen, which requires patients to plan activities outside of their homes around delivery schedules and a finite oxygen supply. Additionally, patients must attach long, cumbersome tubing to their stationary concentrators simply to enable mobility within their homes. The Company&#8217;s proprietary Inogen One<sup style="font-size:85%; vertical-align:top">&#174;</sup> systems concentrate the air around the patient to offer a single source of supplemental oxygen anytime, anywhere with a portable device weighing approximately&#160;4.8&#160;or&#160;7.0&#160;pounds. The Company&#8217;s Inogen One G2<sup style="font-size:85%; vertical-align:top">&#174;</sup> and Inogen One G3&#8482; have up to&#160;5&#160;and&#160;4.5&#160;hours of battery life, respectively, with a single battery and can be plugged into an outlet when at home, in a car, or in a public place with outlets available. The Company&#8217;s Inogen One systems reduce the patient&#8217;s reliance on stationary concentrators and scheduled deliveries of tanks with a finite supply of oxygen, thereby improving patient quality of life and fostering mobility. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Portable oxygen concentrators represent the fastest-growing segment of the Medicare oxygen therapy market between 2012 and 2014 and the Company estimates based on 2014 Medicare data that patients using portable oxygen concentrators represent approximately&#160;6%&#160;to&#160;8%&#160;of the total addressable oxygen market in the United States, although this does not account for cash-pay sales into the market. Based on 2014 industry data, the Company believes it was the leading worldwide manufacturer of portable oxygen concentrators, as well as the largest provider of portable oxygen concentrators to Medicare patients, as measured by dollar volume. The Company believes it is the only manufacturer of portable oxygen concentrators that employs a direct-to-consumer strategy in the United States, meaning the Company markets its products to patients, processes their physician paperwork, provides clinical support as needed and bills Medicare or insurance on their behalf. To pursue a direct-to-consumer strategy, the Company&#8217;s manufacturing competitors would need to meet national accreditation and state-by-state licensing requirements and secure Medicare billing privileges, as well as compete with the home medical equipment providers that many rely on across their entire homecare business. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Since adopting the Company&#8217;s direct-to-consumer strategy in 2009 following its acquisition of Comfort Life Medical Supply, LLC, which had an active Medicare billing number but few other assets and limited business activities, the Company has directly sold or rented its Inogen oxygen concentrators to more than&#160;112,000&#160;patients as of September 30, 2015.&nbsp;&nbsp;</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As contemplated by the Securities and Exchange Commission (SEC) under Rule&#160;10-01 of Regulation S-X, the accompanying financial statements and related footnotes have been condensed and do not contain certain information that will be included in the Company&#8217;s annual financial statements and footnotes thereto.&#160;For further information refer to the financial statements and related footnotes included in the Company&#8217;s Annual Report on Form&#160;10-K for the year ended December&#160;31, 2014 filed with the SEC on April 27, 2015 (Annual Report).</p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:3.73%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:18pt;font-style:italic;font-weight:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:18pt;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">b)</p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:18pt;font-style:italic;font-weight:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Use of estimates<font style="font-style:normal;"> </font></p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the Company&#8217;s financial statements in accordance with generally accepted accounting principles in the United States (GAAP) requires management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying condensed notes.&#160;Management bases these estimates and assumptions upon historical experience, existing and known circumstances, authoritative accounting pronouncements and other factors that management believes to be reasonable.&#160;Significant areas requiring the use of management estimates relate to inventory and rental asset valuations and write-downs, accounts receivable reserves and allowance for bad debts, returns and adjustments, stock compensation expense, impairment assessments, depreciation and amortization, income tax provision and uncertain tax positions, fair value of financial instruments, and fair values of acquired intangibles.&nbsp;&nbsp;Actual results could differ materially from these estimates.</p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:3.73%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:18pt;font-style:italic;font-weight:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:18pt;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">c)</p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:18pt;font-style:italic;font-weight:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Reclassifications</p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain reclassifications have been made to prior years&#8217; financial statements to conform to current period financial statements&#8217; presentation with no effect on previously reported financial position, results of operations or cash flows. These changes consisted of reclassifications to certain line items in the accompanying net cash provided by operating activities in the Statements of Cash Flows for the nine months ended September 30, 2014. Accounts payable and accrued liabilities increased from $1,982 to $2,063, and Other noncurrent liabilities decreased from $0 to ($81) for the nine months ended September 30, 2014.</p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:3.73%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:18pt;font-style:italic;font-weight:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:18pt;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">d<font style="font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">)</font></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:18pt;font-style:italic;font-weight:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Initial public offering (IPO)</p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company completed an IPO on February 20, 2014, and sold&#160;3,529,411&#160;shares to the public for $16.00&#160;per share. &#160;In addition, the selling stockholders sold&#160;981,902&#160;shares for a combined total of&#160;4,511,313&#160;shares sold in the offering. &#160;The Company netted approximately $49,668&#160;after the underwriters&#8217; discount and other associated expenses. In connection with the completion of the Company&#8217;s IPO, the Company&#8217;s&#160;9,546,140&#160;shares of redeemable convertible preferred stock and&#160;66,666&#160;shares of convertible preferred stock were automatically converted into&#160;14,259,647&#160;shares of common stock. &#160;Following the IPO, all warrants previously exercisable for preferred stock became exercisable for common stock. &#160;The previously reported warrant liability associated with the convertible warrants was applied to additional paid-in capital. &#160;During the nine months ended September 30, 2014, the Company recognized a deemed dividend of $987&#160;for the time-frame the redeemable convertible preferred stock was outstanding during the period. &#160;The Company had&#160;no&#160;redeemable convertible preferred stock or convertible preferred stock outstanding as of December 31, 2014 or September 30, 2015, respectively. As of September 30, 2015, the Company had&#160;19,586,673&#160;shares of common stock outstanding.</p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:3.73%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:18pt;font-style:italic;font-weight:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:18pt;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">e<font style="font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">)</font></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:18pt;font-style:italic;font-weight:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"> Recent accounting pronouncements</p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Revenue Recognition:<font style="font-style:normal;">&nbsp;&nbsp;In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09 (ASU 2014-09), </font>Revenue from Contracts with Customers (Topic 606).<font style="font-style:normal;"> The update supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled to those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing GAAP.</font></p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In August 2015, the FASB decided to delay the effective date of ASU 2014-09 by one year.&nbsp;&nbsp;The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date.&nbsp;&nbsp;As such, the updated standard will be effective for us in the first quarter of 2018, with the option to adopt it in the first quarter of 2017.&nbsp;&nbsp;The Company is currently evaluating the impact of the Company&#8217;s pending adoption of ASU 2014-09 on the Company&#8217;s financial statements and has not yet determined the method by which the Company will adopt the standard.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Inventory:<font style="font-style:normal;">&nbsp;&nbsp;In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory. The ASU requires entities to measure most inventory &#8220;at the lower of cost and net realizable value&#8221; thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market.&nbsp;&nbsp;The ASU is effective prospectively for annual periods beginning after December 15, 2016, and interim periods within annual periods. Early application is permitted and should be applied prospectively. The adoption of ASU No. 2015-11 is not expected to have a material effect on the Company&#8217;s financial statements. </font></p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Interest: <font style="font-style:normal;">In April 2015, the FASB issued ASU 2015-03,</font> Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs<font style="font-style:normal;">. The update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This update is effective for our fiscal year beginning January 1, 2016 with early adoption permitted. The adoption of this standard is not expected to have a material effect on our financial condition, results of operations or cash flows.</font></p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Intangibles - Goodwill and Other - Internal Use Software: <font style="font-style:normal;">In April 2015, the FASB issued ASU 2015-05, </font>Intangibles-Goodwill and Other-Internal Use Software - Customer's Accounting for Fees Paid in a Cloud Computing Arrangement.<font style="font-style:normal;"> The update provides guidance on fees paid by an entity in a cloud computing arrangement and whether an arrangement includes a license to the underlying software. If a cloud computing arrangement includes a software license, then the entity should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the entity should account for the arrangement as a service contract. This update is effective for our fiscal year beginning January 1, 2016. The adoption of this standard is not expected to have a material effect on our financial condition, results of operations or cash flows.</font></p></div>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentration of credit risk </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents and accounts receivable. At times, cash account balances may be in excess of the amounts insured by the Federal Deposit Insurance Corporation (FDIC). However, management believes the risk of loss to be minimal. The Company performs periodic evaluations of the relative credit standing of these institutions and has not experienced any losses on its cash and cash equivalents to date. </p></div>
CY2015Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1788000
CY2014Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1115000
us-gaap Standard Product Warranty Description
StandardProductWarrantyDescription
The first deliverable is the oxygen concentrator equipment which comes with a standard warranty of three years
us-gaap Extended Product Warranty Description
ExtendedProductWarrantyDescription
The second deliverable is the lifetime warranty that provides for a functional oxygen concentrator for the remaining lifetime of the patient
ingn Number Of Products Qualify As Separate Units
NumberOfProductsQualifyAsSeparateUnits
2
us-gaap Revenue Recognition Multiple Deliverable Arrangements Determination Of Selling Price Method
RevenueRecognitionMultipleDeliverableArrangementsDeterminationOfSellingPriceMethod
the Company estimates that 60% of patients will succumb to their disease within three years. Given the approximate mortality rate of 20% per year, the Company estimates on average all patients will succumb to their disease within five years.
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DeferredCappedRentalRevenue
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CY2014Q4 ingn Deferred Capped Rental Revenue
DeferredCappedRentalRevenue
0
us-gaap Revenue Recognition New Accounting Pronouncement Timing
RevenueRecognitionNewAccountingPronouncementTiming
30-day period
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43432000
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CashEquivalentsAtCarryingValue
2941000
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5718000
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UnbilledReceivablesCurrent
3653000
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0.87
ingn Transfer Of Inventory To Rental Equipment
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1295000
ingn Percentage Of Non Us Revenue Invoiced In Euros
PercentageOfNonUSRevenueInvoicedInEuros
0.75
us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
1157000
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3539000
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DepreciationAndAmortization
3148000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
10404000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
8654000
CY2015Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.267
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.323
CY2014Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.386
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.391
ingn Number Of Business Segment
NumberOfBusinessSegment
1
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2696000
CY2014Q3 ingn Net Income Loss Available To Common Stockholders Before Preferred Rights Dividend
NetIncomeLossAvailableToCommonStockholdersBeforePreferredRightsDividend
2133000
CY2015Q3 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
8363000
CY2014Q4 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
6774000
CY2015Q3 us-gaap Inventory Finished Goods
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CY2014Q4 us-gaap Inventory Finished Goods
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983000
CY2015Q3 us-gaap Property Plant And Equipment Salvage Value
PropertyPlantAndEquipmentSalvageValue
0
CY2015Q3 us-gaap Cost Of Property Repairs And Maintenance
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686000
CY2014Q3 us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
367000
us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
1897000
ingn Net Income Loss Available To Common Stockholders Before Preferred Rights Dividend
NetIncomeLossAvailableToCommonStockholdersBeforePreferredRightsDividend
7727000
ingn Net Income Loss Available To Common Stockholders Before Preferred Rights Dividend
NetIncomeLossAvailableToCommonStockholdersBeforePreferredRightsDividend
4320000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
563000
CY2015Q3 ingn Net Income Loss Available To Common Stockholders Basic Net Of Undistributed Earnings To Preferred Stock
NetIncomeLossAvailableToCommonStockholdersBasicNetOfUndistributedEarningsToPreferredStock
2696000
CY2014Q3 ingn Net Income Loss Available To Common Stockholders Basic Net Of Undistributed Earnings To Preferred Stock
NetIncomeLossAvailableToCommonStockholdersBasicNetOfUndistributedEarningsToPreferredStock
2133000
ingn Net Income Loss Available To Common Stockholders Basic Net Of Undistributed Earnings To Preferred Stock
NetIncomeLossAvailableToCommonStockholdersBasicNetOfUndistributedEarningsToPreferredStock
7727000
ingn Net Income Loss Available To Common Stockholders Basic Net Of Undistributed Earnings To Preferred Stock
NetIncomeLossAvailableToCommonStockholdersBasicNetOfUndistributedEarningsToPreferredStock
3757000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
507000
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2696000
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2133000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
7727000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3813000
CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
627688
CY2014Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
630055
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
629136
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
630055
CY2015Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
15122
CY2014Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
154227
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
15102
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
161743
CY2015Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1339775
CY2014Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1772667
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1372340
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1791213
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P2Y
CY2015Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
21000
CY2014Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
45000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
64000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
125000
CY2015Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
76000
CY2015Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
315000
CY2015Q3 us-gaap Long Term Debt
LongTermDebt
391000
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
262000
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1066000
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1077000
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1061000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1123000
CY2015Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
11579000
CY2014Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
5055000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
496203
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
48849
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1057000
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
819000
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
5342000
CY2015Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
221000
CY2014Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
182000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
661000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
569000
CY2015Q3 us-gaap Purchase Obligation
PurchaseObligation
5100000
CY2013Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
809000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1415000
CY2014 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1075000
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
360000
CY2014 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
406000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1102000
CY2014 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1175000
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2261633
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
644136
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2360717
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
985688
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2239735
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.31
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
39.31
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.02
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
16.28
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.97
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
5.35
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
16.77
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y5M5D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y1M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y8M5D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y1M13D
CY2014 ingn Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Intrinsic Value Per Share
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodIntrinsicValuePerShare
24.06
ingn Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Intrinsic Value Per Share
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodIntrinsicValuePerShare
31.58
CY2015Q3 ingn Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Vested And Exercisable Per Share Average Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedAndExercisablePerShareAverageIntrinsicValue
43.20
CY2015Q3 ingn Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Vested And Expected To Vest Per Share Average Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedAndExpectedToVestPerShareAverageIntrinsicValue
31.78
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1016000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2343000
ingn Share Based Compensation Expense Reduced Rate For Estimated Forfeiture
ShareBasedCompensationExpenseReducedRateForEstimatedForfeiture
0.075
ingn Share Based Compensation Expense Reduced Rate For Estimated Forfeiture
ShareBasedCompensationExpenseReducedRateForEstimatedForfeiture
0.067
CY2014Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
457000

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