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Dec 31, 2024
Inogen Q4 2024 Earnings Report
Inogen reported strong fourth quarter and full year 2024 financial results, driven by increased revenue and improved profitability.
Key Takeaways
Inogen achieved significant growth in Q4 2024, with total revenue increasing by 5.5% to $80.1 million and a substantial improvement in gross margin to 45.3%. The company also significantly reduced its net loss and adjusted EBITDA loss compared to the prior year, indicating strong progress towards profitability.
Total revenue increased by 5.5% to $80.1 million in Q4 2024, driven by higher demand and new customers in international and domestic business-to-business sales.
Gross margin improved significantly to 45.3% in Q4 2024, up from 37.1% in Q4 2023, primarily due to lower raw material costs and operational efficiencies.
Net loss improved to $9.8 million in Q4 2024 from $26.6 million in Q4 2023, reflecting material cost reductions and operational efficiencies.
Adjusted EBITDA improved to negative $3.6 million in Q4 2024 from negative $17.3 million in Q4 2023, demonstrating progress towards profitability.
Revenue by Segment
Forward Guidance
For the first quarter of 2025, Inogen expects revenue in the range of $79 million to $81 million, reflecting 1% to 4% reported growth. For the full year 2025, revenue is expected to be in the range of $352 million to $355 million, reflecting 5% to 6% growth, with gross margin in the range of 43% to 45%.
Positive Outlook
- Expected revenue growth of 1% to 4% for Q1 2025.
- Expected revenue growth of 5% to 6% for the full year 2025.
- Strategic collaboration with Yuwell to expand product portfolio and global reach.
- Pending introduction of Simeox in the U.S. is expected to drive future growth.
- New leadership team in place, returning the company to growth and profitability.
Challenges Ahead
- Gross margin for full year 2025 is expected to be 43% to 45%, reflecting channel mix shift.
- Costs associated with the introduction of Simeox and Yuwell may impact gross margin.
- Lower direct-to-consumer sales partially offset overall revenue growth.
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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