Earnings: Inogen, Viemed

GOLETA, Calif. - Inogen's revenues were up 14.1% for the first quarter of 2019 compared to the same period last year, totaling $90.2 million. Sales revenues were $84.8 million, up 15.3%; and rental revenues were $5.4 million, down 1.5%. Total units sold were 50,400, an increase of 5,000 or 11%. President and CEO Scott Wilkinson said it was a “tough quarter” domestically, but he said the company believes there is still a large opportunity for portable oxygen concentrators worldwide. “There are patient access issues given the current reimbursement environment and the restructuring challenges that some providers are facing in converting their oxygen business to a non-delivery model,” he said. “As a result, we are focused on multiple initiatives to drive sales and marketing efficiencies and build a more predictable revenue stream over time.”

Viemed sees increase

LAFAYETTE, La. - Viemed Healthcare reported revenues of $20.4 million for the first quarter of 2019, a 45% increase compared to the same quarter last year and 11% increase compared to the fourth quarter last year. Ventilator patient count for the quarter grew approximately 36%. Adjusted EBITDA for the quarter was $4.8 million and gross margin was $15.4 million. Viemed expects to generate total revenues of approximately $22.2 million to $22.8 million during the second quarter of 2019. “We have started the year fast with our growth outpacing prior year's first quarter growth rate as we continue to get our therapy on more patients and expand into more geographic areas,” said Casey Hoyt, Viemed CEO. “We continue to invest in our company as we have expanded our technology and marketing efforts at a rapid pace.”