Inogen’s DTC sales lead way

Wednesday, February 28, 2018

GOLETA, Calif. – Inogen reported total revenue of $63.8 million for the fourth quarter of 2017, up 25.4% compared to the same period in 2016. It reported a net loss of $606,000 vs. a net income of $5.26 million. “The fourth quarter of 2017 was another successful quarter for us, driven by record sales in our domestic direct-to-consumer channel and strong sales in our domestic business-to-business channel,” said CEO Scott Wilkinson. “We are executing on our strategic initiatives and remain focused on increasing adoption of our oxygen product offerings across all of our sales channels. We believe we should see strong sales growth in 2018 as portable oxygen concentrator penetration increases worldwide.” Inogen reported total revenue of $249.4 million for all of 2017 compared to $202.8 million for all of 2016. It reported a net income of $21 million vs. $20.5 million. Breaking down Inogen’s business, the company reported direct-to-consumer sales increased 57% in the fourth quarter of 2017 compared to the same period in 2016, primarily due to an increase in the number of sales reps, marketing expenditures and productivity. It reported domestic business-to-business sales increased 46.1%, primarily due to continued strong demand from our private label partners and traditional HME providers. Sales revenue was up 37% in the fourth quarter to $58.4 million, and rental revenue was down 34.1% to $5.4 million. Inogen has raised its guidance for the full year 2018 to $298 million to $308 million, up from $295 million to $305 million, representing growth of 19.5% to 23.5% compared to 2017.