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MARKETS / NASDAQ / INGN
NASDAQ · ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES · MID CAP

Inogen Inc. INGN

14 fiscal years on record · USD · FY2025 reported · SEC filings only
$348.7M
▲ 3.9% YoY
$-22.7M
$-13.7M
▼ 637.9% YoY
In brief

What this company does

Inogen, Inc. develops, manufactures, and markets respiratory health products, including portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients with chronic respiratory conditions, and the Simeox product for airway clearance treatment. It also distributes the Inogen Voxi 5 stationary oxygen concentrator and the Aurora continuous positive airway pressure masks in the United States. Of the $209.8 million of its 2025 revenue derived from the United States, approximately 45.1% represented sales to home medical equipment providers, distributors and resellers, 29.5% represented direct-to-consumer sales, and 25.4% represented direct-to-consumer rentals. Approximately 39.8% of its total revenue came from outside the United States in 2025, and it has sold its products in a total of 70 countries outside the United States through distributors or directly to large house accounts, including gas companies and home oxygen providers. As of December 31, 2025, it had 753 full and part-time employees worldwide, consisting of 333 in sales, marketing, clinical, and client services, 178 in operations, manufacturing, quality assurance, manufacturing engineering, and repair, 200 in general administration, and 42 in research and development. As of December 31, 2025, it had 25 pending patent applications and 96 issued patents relating to the design and construction of its respiratory devices. It manufactures its oxygen concentrators in a leased building in Plano, Texas, maintains a design facility in Goleta, California, and manufactures the Simeox device in a leased facility in Montpelier, France. It was incorporated in Delaware on November 27, 2001, and it completed an initial public offering of common stock on February 14, 2014, beginning trading on the Nasdaq Global Select Market under the ticker symbol INGN.

Written from the business description in Inogen Inc's annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth
USD 348.7M
Revenue, FY2025 · full 14-year series below
Revenue $M Net income $M
FY2025 · Revenue 348.7 · Net income -22.7
200M-40M-80M20122014201620182020202220242025
Compound annual growth
−2.6%
+2.5%
+8.2%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +2.5% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−7 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -8.7% · Net -6.5%
10%20%30%-10%-20%-30%20122014201620182020202220242025
ROE
FY2025 · ROE -12.4%
10%20%-20%-40%20122014201620182020202220242025

Each USD of equity lost 12 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -13.7
20M40M-20M-40M20122014201620182020202220242025

Total assetsUSD 298.6M
EquityUSD 192.2M
CashUSD 103.7M
Current ratio3.12×

Equity funds 64% of total assets.

The 14-year record
14 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012
Revenue $B0.30.30.30.40.40.30.40.40.20.20.20.10.10.0
Operating income $B−0.0−0.0−0.1−0.10.0−0.00.00.00.00.00.00.00.00.0
EBITDA $B−0.0−0.0−0.1−0.10.00.00.00.00.00.00.00.00.00.0
Income tax $B−0.0−0.00.00.00.00.00.0−0.00.00.00.00.0−0.00.0
Net income $B−0.0−0.0−0.1−0.1−0.0−0.00.00.10.00.00.00.00.00.0
Free cash flow $B−0.00.0−0.0−0.00.00.00.00.10.10.00.00.00.00.0
EPS, diluted $−0.86−1.52−4.42−3.67−0.28−0.270.942.300.960.970.560.300.68−19.97
Dividend / sh $··············
Payout %··············
ROE %−12.4−19.0−40.8−25.1−1.8−1.76.419.310.313.09.224.5··
Shares out B0.030.020.020.020.020.020.020.020.020.020.020.020.00·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 3 failures in 69 reconciliationsAUDITED

Reconciled in 12 of 19 fiscal years. 26 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente3 failures
ActivityOrthopedic, Prosthetic & Surgical Appliances & Supplies
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2011

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