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Sep 30, 2021
Inogen Q3 2021 Earnings Report
Inogen's revenue increased driven by sustained demand, improved average selling prices, and reduced impact of the COVID-19 pandemic.
Key Takeaways
Inogen's total revenue for Q3 2021 increased by 25.3% to $93.1 million compared to the same period in 2020. The increase was primarily driven by sustained demand, improved average selling prices, and the reduced impact of the COVID-19 pandemic. The company reported a net income of $12.2 million, or $0.53 per diluted share.
Total revenue reached $93.1 million, a 25.3% increase from Q3 2020.
Domestic direct-to-consumer revenue grew by 24.6% to $36.3 million compared to Q3 2020.
Rental revenue increased by 61.3% to $12.1 million compared to the same period in 2020.
The company signed an agreement with Ashfield Healthcare, LLC to enhance its go-to-market capabilities.
Revenue by Segment
Forward Guidance
Due to the expected supply chain constraints impacting semiconductor chip supply, the Company expects total revenue in the fourth quarter of 2021 to be similar to revenue in the fourth quarter of 2020. The Company expects negative Adjusted EBITDA and operating and net losses in the fourth quarter of 2021 and operating and net losses for full-year 2021, reflecting the anticipated supply-constrained revenue decline, increased cost of goods sold per unit, and higher operating expense in the period compared to the first nine months of 2021.
Positive Outlook
- The Company will continue to work with its manufacturing partners and explore other open-market avenues to procure necessary semiconductor chips.
- The Company has made and plans to continue to make investments in clinical research
- The Company has made and plans to continue to make investments in research and development
- The Company has made and plans to continue to make investments in building the necessary infrastructure to support future revenue growth and predictability
- The Company has made and plans to continue to make investments in margin expansion.
Challenges Ahead
- The company continues to see ongoing uncertainty in the business caused by supply chain disruptions.
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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