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Sep 30, 2023
Inogen Q3 2023 Earnings Report
Inogen's revenue decreased due to lower domestic business-to-business sales and direct-to-consumer revenue, but was partially offset by growth in rental and international business-to-business sales.
Key Takeaways
Inogen reported a decrease in total revenue for the third quarter of 2023, with a net loss due to one-time non-cash impairment charges. The company is focusing on commercial strategy optimization and cost management.
Total revenue decreased by 20.3% to $84.0 million compared to Q3 2022.
Gross margin was 40.2% versus 40.6% in the third quarter of 2022.
GAAP net loss was $45.7 million, compared to a net loss of $9.5 million in Q3 2022, due to impairment charges.
Inogen continues to expect 2023 revenue of $315 million to $320 million.
Revenue by Segment
Forward Guidance
Inogen continues to expect 2023 revenue of $315 million to $320 million. Inogen now expects an Adjusted EBITDA loss of approximately $27 million for the full year, inclusive of investments in the Company’s Simeox airway clearance portfolio (Physio-Assist).
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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