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Jun 30, 2023
Inogen Q2 2023 Earnings Report
Inogen's financial performance declined in Q2 2023 due to decrease in direct-to-consumer sales and international B2B sales, but the company is focused on improving profitability and expanding its portfolio.
Key Takeaways
Inogen reported a decrease in revenue by 19.1% to $83.6 million compared to the second quarter of 2022. The company experienced a GAAP net loss of $9.8 million and an adjusted EBITDA loss of $3.2 million. Inogen is focused on improving productivity, expanding its prescriber channel presence, and managing volatility in business-to-business channels.
Total revenue decreased by 19.1% to $83.6 million, with currency fluctuations accounting for 0.6% of the decrease.
GAAP net loss was $9.8 million, with an adjusted net loss of $5.8 million and an adjusted EBITDA loss of $3.2 million.
Inogen entered into a share purchase agreement to acquire Physio-Assist, aiming to expand into the airway clearance market.
The Inogen® Rove 6™ portable oxygen concentrator was introduced in the United States.
Forward Guidance
Inogen now expects 2023 annual revenue of $315 million to $320 million and Adjusted EBITDA loss of $20 million to $25 million for the full year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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