Inogen focuses on ‘innovation pipeline’
By HME News Staff
Updated 10:05 AM CST, Fri February 24, 2023
GOLETA, Calif. - Inogen reported total revenue increased 15.3% to $88.1 million in the fourth quarter of 2022 compared to the same period in 2021.
The company reported total revenue increased 5.4% to $377.2 million for the full year 2022.
“Despite the headwinds we faced in 2022, I am pleased with how our team successfully managed these challenges, while growing revenue and executing on our transformation,” said Nabil Shabshab, president and CEO. “We remain focused on our innovation pipeline to provide a foundation for growth along with judicious management of operating expenses to drive medium to long-term growth.”
Inogen reported a net loss of $56.4 million for the fourth quarter (vs. 23.1 million for the same period in 2021) and a net loss of $85.4 million for the full year 2022 (vs. $5.3 million for 2021).
The company has also announced it will provide a strategy update with Shabshab and CFO Kristin Caltrider on Monday, Feb. 27.
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