Tag: Nabil Shabshab

GOLETA, Cailf. – Inogen saw a nice boost in revenue in the second quarter, thanks to increasing consumer confidence and ambulation, but the company expects supply chain constraints to inhibit its ability to meet demand in the second half of 2021.  The company expects total revenue for the second half to be lower than the first half of the year, and it expects net losses for the third and fourth quarters, as well as for the full year.  “We continue to see strong consumer...

GOLETA, Calif. – Inogen reported total revenues of $86.9 million for the first quarter of 2021, a 1.8% decrease from the same period last year, primarily due to the impacts of the COVID-19 pandemic, the company says.  It reported a net loss of $732,000 vs. a net loss of $1.59 million.  “While the COVID-19 pandemic continued to have an impact on our business in the first quarter of 2021, we saw sequential growth in all four channels, and sequential growth of 17.5%...

GOLETA, Calif. – Inogen reported a 17.9% increase in sales of portable oxygen concentrators to HME providers in the fourth quarter of 2020, a sign of just how much the pandemic is straining the supply of stationary oxygen concentrators, a more common therapy for COVID-19 patients.  That’s compared to a 25.2% decrease in direct-to-consumer sales for the quarter.  “Traditionally, these patients are treated...

GOLETA, Calif. – Inogen’s new CEO, Nabil Shabshab, says the company may be “placing its bets a little differently” in 2021.  During a recent conference call to discuss the company’s latest financial results, Shabshab’s first, an analyst asked how he planned to balance Inogen’s various business segments – direct to consumer, business to business and rental.   “Of course, (the...

GOLETA, Calif. – Inogen reported revenue of $74 million for the fourth quarter of 2020, a 6.3% decrease compared to the same period in 2019, but domestic business-to-business sales were $24.2 million, a 17.9% increase.  Rental revenue was $9.4 million, a 71.7% increase, and direct-to-consumer sales were $26.8 million, a 25.2% decrease.  “While the COVID-19 pandemic continued to have a significant effect on our business in the fourth quarter of 2020, primarily...

GOLETA, Calif. – Inogen’s board of directors has appointed Nabil Shabshab as president and CEO effective Feb. 8.  Shabshab will replace Scott Wilkinson, who announced that he would be retiring in June last year.  Shabshab will also serve as a Class II director, with a term expiring at the annual stockholders meeting in 2022.  Shabshab, 56, has most recently served as worldwide president of diabetes care and digital health at Becton...