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Mar 31, 2021
Inogen Q1 2021 Earnings Report
Inogen's revenue decreased slightly, but rental revenue grew significantly, and the company reported a net loss.
Key Takeaways
Inogen reported a slight decrease in total revenue for Q1 2021, with a net loss of $0.7 million. However, the company saw strong growth in rental revenue and sequential growth in all four sales channels.
Total revenue decreased by 1.8% compared to the same period in 2020, totaling $86.9 million.
Rental revenue increased significantly by 84.2% compared to Q1 2020, reaching $9.9 million.
Domestic business-to-business revenue increased by 11.6% compared to the same period in 2020, reaching $30.7 million.
The company's cash, cash equivalents, and marketable securities totaled $233.2 million as of March 31, 2021, with no outstanding debt.
Revenue by Segment
Forward Guidance
Due to COVID-19 uncertainties, Inogen is unable to provide full-year 2021 guidance. However, they anticipate increased operating expenses due to investments in clinical research, R&D, and infrastructure to support their rental-focused strategy. They expect all sales channels to increase in Q2 2021 compared to the previous year, with the rental channel showing the largest percentage growth.
Positive Outlook
- Company expects all sales channels to increase versus the comparative period in the prior year.
- Largest percentage growth expected in its rental channel.
- Company expects to continue to see the largest COVID-19 related impact on its international business-to-business sales channel.
- Company believes it is prudent to continue to make investments in clinical research.
- Company believes it is prudent to continue to make investments in research and development
Challenges Ahead
- Because of the uncertainties related to the COVID-19 pandemic, the Company is still unable to provide guidance for the full year 2021.
- Given the uncertain scope and duration of the COVID-19 pandemic, the Company is unable to estimate the related impact on its financial results, including revenue, net income or loss, and Adjusted EBITDA estimates for such period.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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