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Mar 31, 2022
Inogen Q1 2022 Earnings Report
Inogen's financial performance declined due to supply chain constraints, but direct-to-consumer and international revenues increased.
Key Takeaways
Inogen reported a decrease in total revenue by 7.5% compared to Q1 2021, primarily due to supply chain constraints. However, the company saw growth in domestic direct-to-consumer revenue and international business-to-business revenue. The company reported a net loss of $14.2 million, or $0.62 per diluted share.
Total revenue decreased by 7.5% year-over-year to $80.4 million due to supply chain constraints.
Domestic direct-to-consumer revenue increased by 12.2% to $34.4 million.
International business-to-business revenue increased by 77.7% to $27.9 million.
GAAP loss per diluted share was $0.62, compared to a loss of $0.03 in Q1 2021.
Forward Guidance
Inogen expects total revenue for the second quarter of 2022 to improve sequentially and to be in line with the same period in 2021. The Company expects gross margin percentage for the second quarter of 2022 to be in line with the first quarter of 2022, as higher selling prices are offset by continued cost pressure. For the second quarter and full year of 2022, the Company expects losses in Adjusted EBITDA and earnings per diluted share resulting from continued investment in the business.
Positive Outlook
- Total revenue for Q2 2022 expected to improve sequentially.
- Total revenue for Q2 2022 expected to be in line with the same period in 2021.
- Gross margin percentage for Q2 2022 expected to be in line with Q1 2022.
- Higher selling prices offsetting continued cost pressure.
- Significant investments in clinical research, research and development, and commercial operations.
Challenges Ahead
- Ongoing uncertainty related to the COVID-19 pandemic.
- Supply chain disruptions, including the war in Ukraine.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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