Inogen Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Inogen Inc. filed its Q1 2024 10-Q, detailing financial data and equity information.</b>

AI Summary

Inogen Inc (INGN) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Inogen Inc. filed a 10-Q report for the period ending March 31, 2024. The filing includes data related to various financial statement line items and equity instruments. Specific dates such as 2024-03-31, 2023-12-31, and 2023-03-31 are referenced in relation to financial reporting. The report details information on restricted stock units, employee stock plans, and other equity-based compensation. It also touches upon supplier and customer concentration risks, particularly concerning Medicare reimbursement programs.

Why It Matters

For investors and stakeholders tracking Inogen Inc, this filing contains several important signals. This 10-Q filing provides an updated view of Inogen's financial position and operational activities for the first quarter of 2024. The inclusion of specific risk factors like supplier and customer concentration highlights potential challenges Inogen faces in its revenue streams and supply chain.

Risk Assessment

Risk Level: medium — Inogen Inc shows moderate risk based on this filing. The company faces medium risk due to potential supplier and customer concentration, particularly with Medicare reimbursement programs, which could impact revenue and operations.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-Q to assess Inogen's current financial health and future prospects.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-08 — Filing Date (Filed as of date)
• Q1 — Fiscal Quarter (Indicates the filing covers the first fiscal quarter)
• 12-31 — Fiscal Year End (Indicates the company's fiscal year ends on December 31st)

Key Players & Entities

• Inogen Inc. (company) — Filer of the 10-Q report
• 2024-03-31 (date) — Conformed period of report
• 2024-05-08 (date) — Filed as of date
• 0000950170-24-055627 (filing_id) — Accession number for the filing
• 3842 (sic_code) — Standard Industrial Classification code for Orthopedic, Prosthetic & Surgical Appliances & Supplies
• DE (state) — State of incorporation
• CA (state) — State of business address
• 805-562-0500 (phone) — Business phone number

FAQ

Risk Factors

• Supplier Concentration Risk [medium — financial]: The company faces risk due to concentration with specific suppliers, such as Vendor Three and Vendor One, for its cost of goods.
• Customer Concentration Risk [medium — financial]: Inogen is exposed to customer concentration risk, particularly with Medicare's Service Reimbursement Programs and specific customers like Customer One.

Industry Context

Inogen operates in the orthopedic, prosthetic & surgical appliances & supplies industry, focusing on respiratory products.

Regulatory Implications

The company's operations are subject to regulations related to medical devices and healthcare reimbursement, particularly from programs like Medicare.

What Investors Should Do

1. Analyze Inogen's revenue trends and profitability in the detailed financial statements.
2. Evaluate the impact of supplier and customer concentration risks on the company's supply chain and revenue stability.
3. Review the details of equity-based compensation and stock plans for potential dilution or incentive effects.

Year-Over-Year Comparison

This filing represents the first quarterly report for fiscal year 2024, providing an update from the previous fiscal year-end filings.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value INGN The NASDAQ Stock Mar
• $0 — 7,109 shares of common stock, par value $0.001, outstanding. TABLE OF CONTENTS

Filing Documents

• ingn-20240331.htm (10-Q) — 2083KB
• ingn-ex31_1.htm (EX-31.1) — 15KB
• ingn-ex31_2.htm (EX-31.2) — 16KB
• ingn-ex32_1.htm (EX-32.1) — 7KB
• ingn-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-24-055627.txt (&nbsp;) — 9560KB
• ingn-20240331.xsd (EX-101.SCH) — 1405KB
• ingn-20240331_htm.xml (XML) — 1911KB

– Financial Information

Part I – Financial Information Page Item 1.

Financial Statements

Financial Statements 3 Consolidated Balance Sheets (unaudited) as of March 31, 2024 and December 31, 2023 3 Consolidated Statements of Comprehensive Loss (unaudited) for the Three Months Ended March 31, 2024 and March 31, 2023 4 Consolidated Statements of Stockholders' Equity (unaudited) for the Three Months Ended March 31, 2024 and March 31, 2023 5 Consolidated Statements of Cash Flows (unaudited) for the Three Months Ended March 31, 2024 and March 31, 2023 6 Condensed Notes to the Consolidated Financial Statements (unaudited) 8 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 36

– Other Information

Part II – Other Information Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 3. Defaults Upon Senior Securities 38 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 39

SIGNATURES

SIGNATURES 40 2 INOGEN, INC.

– FINANC IAL INFORMATION

PART I – FINANC IAL INFORMATION

Financ ial Statements

Item 1. Financ ial Statements Inogen, Inc. Consol idated Balance Sheets (unaudited) (amounts in thousands, except share and per share amounts) March 31, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 107,444 $ 125,492 Marketable securities 12,361 2,979 Accounts receivable, net 40,223 42,241 Inventories, net 24,601 21,840 Income tax receivable 976 669 Prepaid expenses and other current assets 13,589 13,846 Total current assets 199,194 207,067 Property and equipment, net 49,270 50,316 Goodwill 9,834 10,057 Intangible assets, net 32,907 34,591 Operating lease right-of-use asset 20,575 20,338 Other assets 3,819 3,825 Total assets $ 315,599 $ 326,194 Liabilities and stockholders' equity Current liabilities Accounts payable and accrued expenses $ 31,706 $ 30,142 Accrued payroll 10,602 11,066 Warranty reserve - current 10,095 9,628 Operating lease liability - current 3,515 3,653 Earnout liability 10,570 10,000 Deferred revenue - current 7,422 7,980 Income tax payable — 27 Total current liabilities 73,910 72,496 Long-term liabilities Warranty reserve - noncurrent 15,435 13,850 Operating lease liability - noncurrent 18,595 18,270 Deferred revenue - noncurrent 7,613 8,227 Deferred tax liability 8,148 8,539 Total liabilities 123,701 121,382 Commitments and contingencies (Note 10) Stockholders' equity Common stock, $ 0.001 par value per share; 200,000,000 authorized; 23,546,478 and 23,324,750 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 24 23 Additional paid-in capital 323,213 320,513 Accumulated deficit ( 131,527 ) ( 116,949 ) Accumulated other comprehensive income 188 1,225 Total stockholders' equity 191,898 204,812 Total liabilities and stockholders' equity $ 315,599 $ 326,

View Full Filing

View this 10-Q filing on SEC EDGAR