Inogen Inc. Q2 2024 Revenue at $74.4M

TL;DR

Inogen Q2 revenue $74.4M, watch G&A and Medicare receivables.

AI Summary

Inogen Inc. reported its Q2 2024 results, with net revenue for the three months ended June 30, 2024, totaling $74.4 million. The company's financial statements reflect various expenses, including general and administrative costs, and equity-based compensation related to its 2014 Equity Incentive Plan and 2014 Employee Stock Purchase Plan. Inogen also disclosed information regarding its accounts receivable, particularly concerning Medicare's Service Reimbursement Programs.

Why It Matters

This filing provides insight into Inogen's revenue performance and operational expenses for the second quarter of 2024, impacting investor understanding of the company's financial health.

Risk Assessment

Risk Level: medium — The filing details revenue figures and expense categories, but lacks specific forward-looking guidance or significant changes that would indicate a high-risk profile.

Key Numbers

• $74.4M — Net Revenue (Q2 2024 revenue for Inogen Inc.)
• 2024-06-30 — Reporting Period End Date (Indicates the end of the second quarter for financial reporting.)

Key Players & Entities

• Inogen Inc. (company) — Filer of the 10-Q report
• $74.4 million (dollar_amount) — Net revenue for the three months ended June 30, 2024
• June 30, 2024 (date) — End of the reporting period for Q2 2024
• 2014 Equity Incentive Plan (company) — Plan related to equity compensation
• 2014 Employee Stock Purchase Plan (company) — Plan related to employee stock purchases
• Medicare's Service Reimbursement Programs (company) — Program related to accounts receivable

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value INGN The NASDAQ Stock Mar
• $0 — 9,012 shares of common stock, par value $0.001, outstanding. TABLE OF CONTENTS

Filing Documents

• ingn-20240630.htm (10-Q) — 2771KB
• ingn-ex31_1.htm (EX-31.1) — 16KB
• ingn-ex31_2.htm (EX-31.2) — 16KB
• ingn-ex32_1.htm (EX-32.1) — 7KB
• ingn-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-24-092743.txt ( ) — 10953KB
• ingn-20240630.xsd (EX-101.SCH) — 1430KB
• ingn-20240630_htm.xml (XML) — 2240KB

– Financial Information

Part I – Financial Information Page Item 1.

Financial Statements

Financial Statements 3 Consolidated Balance Sheets (unaudited) as of June 30, 2024 and December 31, 2023 3 Consolidated Statements of Comprehensive Loss (unaudited) for the Three and Six Months Ended June 30, 2024 and June 30, 2023 4 Consolidated Statements of Stockholders' Equity (unaudited) for the Three and Six Months Ended June 30, 2024 and June 30, 2023 5 Consolidated Statements of Cash Flows (unaudited) for the Six Months Ended June 30, 2024 and June 30, 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 22 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 38 Item 4.

Controls and Procedures

Controls and Procedures 39

– Other Information

Part II – Other Information Item 1.

Legal Proceedings

Legal Proceedings 40 Item 1A.

Risk Factors

Risk Factors 40 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 3. Defaults Upon Senior Securities 40 Item 4. Mine Safety Disclosures 40 Item 5. Other Information 40 Item 6. Exhibits 41

SIGNATURES

SIGNATURES 42 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) June 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 97,920 $ 125,492 Marketable securities 19,767 2,979 Restricted cash 3,559 — Accounts receivable, net 36,037 42,241 Inventories, net 24,048 21,840 Income tax receivable 1,050 669 Prepaid expenses and other current assets 12,410 13,846 Total current assets 194,791 207,067 Property and equipment, net 47,022 50,316 Goodwill 9,764 10,057 Intangible assets, net 33,585 34,591 Operating lease right-of-use asset 19,951 20,338 Other assets 3,806 3,825 Total assets $ 308,919 $ 326,194 Liabilities and stockholders' equity Current liabilities Accounts payable and accrued expenses $ 26,783 $ 30,142 Accrued payroll 13,746 11,066 Warranty reserve - current 9,759 9,628 Operating lease liability - current 3,332 3,653 Earnout liability 11,180 10,000 Deferred revenue - current 7,385 7,980 Income tax payable — 27 Total current liabilities 72,185 72,496 Long-term liabilities Warranty reserve - noncurrent 15,897 13,850 Operating lease liability - noncurrent 18,106 18,270 Deferred revenue - noncurrent 7,066 8,227 Deferred tax liability 8,070 8,539 Total liabilities 121,324 121,382 Commitments and contingencies (Note 10) Stockholders' equity Common stock, $ 0.001 par value per share; 200,000,000 authorized; 23,718,774 and 23,324,750 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 24 23 Additional paid-in capital 324,826 320,513 Accumulated deficit ( 137,117 ) ( 116,949 ) Accumulated other comprehensive income (loss) ( 138 ) 1,225 Total stockholders' equity 187,595 204,812 Total liabilities and stoc

View Full Filing

View this 10-Q filing on SEC EDGAR