Inogen Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Inogen Inc. has filed its annual 10-K report for the fiscal year 2023, detailing its financial performance and business operations.</b>

AI Summary

Inogen Inc (INGN) filed a Annual Report (10-K) with the SEC on March 1, 2024. Inogen Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is 859 Ward Drive, Goleta, CA 93111. Inogen Inc. is incorporated in Delaware. The SIC code for Inogen Inc. is 3842, related to orthopedic, prosthetic & surgical appliances & supplies.

Why It Matters

For investors and stakeholders tracking Inogen Inc, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Inogen's financial health, operational strategies, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's current standing and future prospects. Understanding the details within this report, such as revenue segments, expenses, and balance sheet items, is essential for stakeholders to make informed investment decisions regarding Inogen Inc.

Risk Assessment

Risk Level: medium — Inogen Inc shows moderate risk based on this filing. The filing is a standard 10-K, which typically contains a broad range of information including financial statements, risk factors, and business descriptions, necessitating a thorough review to identify specific risks.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K filing to understand Inogen Inc.'s performance and potential challenges in the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Fiscal year end date)
• 10-K — Form Type (Type of SEC filing)
• 001-36309 — SEC File Number (SEC file number for Inogen Inc.)
• 24709437 — Film Number (Film number for the filing)

Key Players & Entities

• Inogen Inc. (company) — Filer name
• 0000950170-24-023820 (other) — Accession number
• 20231231 (date) — Conformed period of report
• 20240301 (date) — Filed as of date
• 0001294133 (company) — Central Index Key
• 3842 (other) — Standard Industrial Classification
• DE (other) — State of incorporation
• 859 Ward Drive, Goleta, CA 93111 (address) — Business address

FAQ

Industry Context

Inogen Inc. operates in the orthopedic, prosthetic & surgical appliances & supplies industry.

Regulatory Implications

The filing is a standard 10-K report submitted to the SEC under the 1934 Act.

What Investors Should Do

1. Analyze Inogen Inc.'s revenue streams and cost of goods sold for FY 2023.
2. Examine the company's operating expenses, including general and administrative costs.
3. Review the balance sheet for assets, liabilities, and equity as of December 31, 2023.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023. Previous filings would be for prior periods.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value INGN The NASDAQ Stock Mar
• $49 billion — in the United States was approximately $49 billion in 2020 with close to 925,000 COPD emer
• $226.3 million — and a physician referral model. Of the $226.3 million of our 2023 revenue derived from the Un

Filing Documents

• ingn-20231231.htm (10-K) — 4432KB
• ingn-ex10_44.htm (EX-10.44) — 415KB
• ingn-ex10_45.htm (EX-10.45) — 163KB
• ingn-ex23_1.htm (EX-23.1) — 4KB
• ingn-ex31_1.htm (EX-31.1) — 16KB
• ingn-ex31_2.htm (EX-31.2) — 16KB
• ingn-ex32_1.htm (EX-32.1) — 14KB
• ingn-ex97_1.htm (EX-97.1) — 67KB
• img252357023_0.jpg (GRAPHIC) — 195KB
• 0000950170-24-023820.txt (&nbsp;) — 19042KB
• ingn-20231231.xsd (EX-101.SCH) — 1851KB
• ingn-20231231_htm.xml (XML) — 4330KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 21 Item 1B. Unresolved Staff Comments 61 Item 1C. Cybersecurity 61 Item 2.

Properties

Properties 62 Item 3.

Legal Proceedings

Legal Proceedings 62 Item 4. Mine Safety Disclosures 62 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 63 Item 6. [Reserved] 64 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 65 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 83 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 84 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 84 Item 9A.

Controls and Procedures

Controls and Procedures 85 Item 9B. Other Information 87 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 87 Part III Item 10. Directors, Executive Officers and Corporate Governance 88 Item 11.

Executive Compensation

Executive Compensation 88 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 88 Item 13. Certain Relationships and Related Transactions, and Director Independence 88 Item 14. Principal Accounting Fees and Services 88 Part IV Item 15. Exhibits, Financial Statement Schedules 89 Item 16. Form 10-K Summary 89 i INOGEN, INC. PART I

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, that are based on our management's beliefs and assumptions and on information currently available to our management. The forward-looking statements are contained principally in the sections entitled "Business," "Risk Factors," and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Forward-looking statements include, but are not limited to, statements concerning the following: information concerning our possible or assumed future cash flows, revenue, sources of revenue, results of operations, and operating and other expenses; our ability to develop new products, improve our existing products, and increase the value of our products; the ability of our competitors to introduce products to the market that may be lower priced than ours, may have more product features than ours, or are otherwise more accepted by the market, including our home medical equipment partners; the impact of expense inflation on the components we use in our products, and the impact of inflation of the ability of our customers to afford our products; our assessment and expectations regarding reimbursement rates, future rounds of competitive bidding, Centers for Medicare and Medicaid Services (CMS) changes to Home Use of Oxygen national coverage determination and how those changes are implemented, and future changes in rental revenue; our expectations regarding the timing of new products and product improvement launches as well as product features and specifications; our expectations with respect to our cost reduction initiatives; our expectations regarding regulatory approvals and government and third-party payor coverage and reimbursement; our ability to attrac

BUSINESS

ITEM 1. BUSINESS General Inogen, Inc. is a medical technology business that primarily focuses on respiratory health. Inogen, Inc. develops, manufactures, and markets innovative portable oxygen concentrators (POCs) used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. Our proprietary Inogen One and Inogen Rove systems concentrate the air around the patient to offer a source of supplemental oxygen 24 hours a day, 7 days a week with a battery and can be plugged into an outlet when at home, in a car, or in a public place with outlets available. While often used concomitantly with stationary oxygen concentrators and oxygen compressed gas tanks, our Inogen One systems reduce the patient's reliance on stationary concentrators and scheduled deliveries of tanks with a finite supply of oxygen, thereby improving patient quality of life and fostering mobility. Corporate history We were incorporated in Delaware on November 27, 2001. On February 14, 2014, we completed an initial public offering of common stock and began trading on the Nasdaq Global Select Market, trading under the ticker symbol "INGN". We incorporated Inogen Europe Holding B.V., a Dutch limited liability company, on April 13, 2017. On May 4, 2017, Inogen Europe Holding B.V. acquired all issued and outstanding capital stock of MedSupport Systems B.V. (MedSupport) and began operating under the name Inogen Europe B.V. We merged Inogen Europe Holding B.V. and Inogen Europe B.V. on December 28, 2018. Inogen Europe B.V. is the remaining legal entity. We completed the acquisition of New Aera, Inc. (New Aera) on August 9, 2019. On September 14, 2023, we completed the acquisition of all of the issued and outstanding capital stock of Physio-Assist SAS (Physio-Assist) and its wholly-owned subsidiary PhysioAssist GmbH. The market Chronic obstructive pulmonary disease We are focused on oxygen therapy and opportunities in the global respiratory care mar

View Full Filing

View this 10-K filing on SEC EDGAR