Tag: Inogen

GOLETA, Cailf. – Two major factors contributed to Inogen’s 13.2% increase in revenue in the third quarter: The company remediated “the significant portion of its backlog,” and it made “excellent progress” with its prescriber strategy, says President and CEO Nabil Shabshab.    Shabshab declined to detail the size of the backlog of orders in its domestic business-to-business channel, but Inogen recorded $42.5 million in sales for the channel in the third...

GOLETA, Calif. – Inogen has reported total revenue of $105.4 million for the third quarter of 2022, a 13.2% increase compared to the same period last year.  Revenue increased primarily due to higher domestic business-to-business sales, as well as continued strength in the rental channel, partially offset by lower international business-to-business and direct-to-consumer sales  “I am pleased with the progress the team has made on our transformational journey,” said...

GOLETA, Calif. – Inogen’s CEO is “cautiously optimistic” that the company has made enough progress mitigating supply chain challenges that it can project revenue growth of 4% to 7% in the third quarter this year compared to the same period last year.  The company now projects revenues of about $97 million to $100 million in Q3.  “While we have not mitigated all the supply risks, we feel we are making adequate progress to secure most of the needed parts...

GOLETA, Calif. – Inogen reported total revenues of $103.4 million for the second quarter of 2022, a 1.8% increase compared to the same period in 2021 and a 28.6% increase compared to the prior quarter.  “We delivered solid performance in the quarter driven by our ability to fulfill customer demand, while effectively managing supply chain challenges and macro headwinds,” said Nabil Shabshab, Inogen’s president and CEO.  Other financial results:  Adjusted...

GOLETA, Calif. – Supply chain challenges, as well as a temporary shutdown at facilities in Texas and California earlier this year, forced Inogen to prioritize available supply in the first quarter of 2022 to its domestic direct-to-consumer and rental channels, contributing to an 83.4% drop in revenues for its business-to-business channel.  “As of early May, we have started shipments to our domestic B2B channel in order to alleviate some of the backlog in our system,”...

IGOLETA, Calif. – Inogen reported total revenue of $80.4 million for the first quarter of 2022, down 7.5% from the same period in 2021, primarily due to supply chain constraints.  The company says, however, that total revenue was up 5.2% sequentially from the fourth quarter of 2021.  Inogen reported revenue of $34.4 million for its domestic direct-to-consumer channel, up 12.2%; and revenue of $5.1 million for its domestic business-to-business channel, down 83.4%. It reported...

GOLETA, Calif. – Inogen has appointed Glenn Boehnlein, Kevin King and Mary Katherine Ladone to its board of directors. In conjunction with these appointments, Heath Lukatch, a director since 2006; Benjamin Anderson-Ray, a director since 2013; and Loren McFarland, a director since 2013, have all retired from the board. “Maintaining a board with diverse, fresh perspectives, skills, and experience to drive shareholder value is of utmost priority for Inogen and we are thrilled to welcome...

GOLETA, Calif. – Inogen has appointed Kristin Caltrider as executive vice president and CFO effective March 21. Caltrider joins Inogen from Quidel Corp., a provider of rapid diagnostic testing solutions, cellular-based virology assays and molecular diagnostic systems that is listed on NASDAQ. “Kristin is a proven executive who brings deep experience in leading the financial operations of health care businesses,” said CEO Nabil Shabshab. “She has a clear track record of partnering...

GOLETA, Calif. – Inogen expensed $2.3 million in higher material costs in the fourth quarter of 2021 and expects that number to double in the first quarter of 2022, company officials say.  Inogen expects $4.5 million to $5.5 million in incrementally higher material costs in the first quarter of 2022 associated with open market purchases of semiconductor chips used in its batteries and portable oxygen concentrators, says interim CFO Mike Sergesketter.  “We expect this cost...

GOLETA, Calif. – Inogen reported revenue of $76.4 million for the fourth quarter of 2021, an increase of 3.3% over the same period in 2020, driven by a 23.3% in domestic direct-to-consumer sales to $33 million.  Domestic business-to-business sales in the fourth quarter of 2021 decreased 57.6% to $10.3 million compared to $24.2 million in the fourth quarter of 2020, primarily due to the supply chain constraints that limited product availability in this channel.  Rental revenue...