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Jun 30, 2021
Inogen Q2 2021 Earnings Report
Reported record total revenue and a significant increase in domestic direct-to-consumer revenue and rental revenue compared to the same period last year.
Key Takeaways
Inogen's Q2 2021 financial results revealed a strong recovery and growth, with total revenue reaching a record $101.6 million, a 41.7% increase from Q2 2020. This growth was driven by strong consumer demand, improved average selling prices, and reduced COVID-19 impacts. The company reported net income of $5.1 million, or $0.22 per diluted share.
Total revenue reached a record $101.6 million, up 41.7% from Q2 2020.
Domestic direct-to-consumer revenue increased by 35.6% compared to the same period in 2020.
Rental revenue saw a significant increase of 85.2% from the same period in 2020
Cash, cash equivalents, and marketable securities totaled $250.0 million with no debt outstanding as of June 30, 2021.
Revenue by Segment
Forward Guidance
The company expects total revenue in the second half of 2021 to be lower than the first half of 2021, with the largest negative impact on its domestic business-to-business channel. The Company also expects increased cost of goods sold per unit in the second half of 2021 due to cost inflation of materials and labor throughout the supply chain including semiconductor chips and higher freight costs and expects net losses in both the third and fourth quarters of 2021 and a net loss for full-year 2021.
Positive Outlook
- The Company plans to implement price increases across its products, which are planned to be effective as of September 1, 2021.
- The Company will continue to make investments in clinical research.
- The Company will continue to invest in research and development.
- The Company will continue to build the necessary infrastructure to support future revenue growth and predictability.
- The Company will continue to build infrastructure to support margin expansion.
Challenges Ahead
- Total revenue in the second half of 2021 is expected to be lower than the first half of 2021
- Largest negative impact on its domestic business-to-business channel.
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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