Tag: Inogen

WASHINGTON – AAHomecare’s Payer Relations Team has begun a nationwide campaign to work with state/regional association leaders to better align state Medicaid rates with higher costs.  The association says HME providers are experiencing increasing product prices and operational costs due to the COVID-19 pandemic and supply chain issues, as well as ongoing inflation pressures.  “Our work will include requesting that rates reflect the 6.4%+ CPI-U increases granted by...

GOLETA, Calif. – Inogen estimates preliminary, unaudited total revenue of $87.5 million to $88.5 million for the fourth quarter of 2022, representing year-over-year growth of 14.5% to 15.8%.  It estimates total revenue of $376.7 million to $377.7 million for the full year, representing year-over-year growth of 5.2% to 5.5%.  “Despite the prevailing macroeconomic pressures and headwinds resulting from our efforts to continue upgrading the operating disciplines in our DTC...

GOLETA, Calif. – Inogen has received 510(k) clearance from the U.S. Food and Drug Administration for its latest portable oxygen concentrator, the Rove 4. The company has already launched the Rove 6, a new and improved six-setting device, in European countries, where reimbursement is grandfathered, and it plans to launch the Rove 4, a four-setting device, in the U.S. by the back half of 2023. Inogen has also received European Medical Device Regulation certification to sell and commercialize...

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...