Inogen sees decrease in DTC sales, as coronavirus pandemic hits consumer confidence, mobility
By HME News Staff
Updated Wed May 6, 2020
GOLETA, Calif. - Inogen reported total revenue of $88.5 million for the first quarter of 2020, a 1.9% decrease from the same period last year. It reported a net loss of $1.6 million vs. net income of $5.3 million. Inogen reported domestic-to-domestic business sales increased 5.7% to $27.6 million, primarily due to increased HME provider demand in response to the coronavirus pandemic. It reported direct-to-consumer sales declined 8.9% to $35.5 million, primarily due to an about 15% reduction in average sales rep headcount, and due to reduced travel plans and mobility among its target customers. Inogen has also withdrawn its previously announced full year 2020 guidance, with the company unable to estimate the scope, duration and impact of the pandemic.
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