Inogen Reports Growth and Raises Revenue Outlook

Inogen Inc ( (INGN) ) has released its Q2 earnings. Here is a breakdown of the information Inogen Inc presented to its investors.

Inogen, Inc. is a global medical technology company specializing in innovative respiratory products for homecare settings, aimed at improving the quality of life for patients with chronic respiratory conditions. In its latest earnings report for the second quarter of 2025, Inogen announced a 4.0% increase in revenue year-over-year, reaching $92.3 million, marking the sixth consecutive quarter of growth. The company also reported a GAAP net loss of $4.2 million and an adjusted net loss of $0.7 million, alongside a positive adjusted EBITDA of $2.1 million.

Key financial highlights included a strong operating cash flow of $4.4 million, boosting cash reserves to $123.7 million. Inogen also launched new products, such as the Voxi™ 5 stationary oxygen concentrator and the Inogen Patient Portal, enhancing its product portfolio and patient engagement. The company’s revenue growth was driven by increased demand from international and domestic business-to-business customers, despite a decline in direct-to-consumer and rental revenues.

Inogen’s gross margin decreased to 44.8% from 48.1% in the previous year, attributed to a higher proportion of business-to-business sales. Operating expenses decreased by 4.7% due to the absence of a one-time bad debt expense from the prior year. The company maintained a strong financial position with no outstanding debt and continued to focus on strategic initiatives to drive innovation and market leadership in respiratory care.

Looking ahead, Inogen has raised its full-year 2025 revenue expectations to between $354 million and $357 million, reflecting approximately 6% growth. The company anticipates continued revenue growth in the third quarter, projecting a range of $91 million to $93 million, and aims to reach adjusted EBITDA breakeven for the year.