Inogen increases guidance on record second quarter
GOLETA, Calif. – The first half of 2015 has gone so well for Inogen that the company has increased its guidance for the year to between $145 million to $149 million in revenues, growth of 28.8% to 32.4% compared to 2014. “As we look out toward the second half of this year, we expect to see stronger than originally anticipated demand continue, and as a result, are updating our guidance for 2015 accordingly,” said Ray Huggenberger, president and CEO, in a press release. Inogen’s previous guidance was $133 million to $137 million. The company reported net revenues of $44 million for the second quarter compared to $30.4 million for the same period last year. Net income was $3.5 million vs. $2.3 million. Inogen reported net revenues of $77.8 million for the first half of the year compared to $54 million for the same period last year. Net income was $5 million vs. $3.2 million. Inogen says domestic business-to-business sales grew 80.5% in the second quarter this year compared to the same period last year, representing its fastest growing channel. The company credits an increasing reseller and private label demand for the growth.