Earnings reports: Inogen, Invacare

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Wednesday, November 8, 2017

Inogen’s DTC beats B2B in Q3

GOLETA, Calif. – Inogen reported total revenues of $69 million for the third quarter of 2017, up 26.8% from the same period last year. It reported net income of $7.3 million, up 39.9%. Breaking down revenue, sales revenue was $63.1 million, up 33.8%; and rental revenue was $5.9 million, down 18.7%. Inogen says direct-to-consumer sales grew 43.5% in the third quarter compared to the same period last year, primarily due to an increased number of sales reps and increased productivity. Domestic business-to-business sales grew 41.7%, primarily due to continued strong demand from traditional HME providers and the company’s private label partner. Inogen has increased its guidance range for revenue in full year 2017 to $244 million to $248 million, representing year-over-year growth of 20.3% to 22.3%. Previously, it had given a guidance range of $239 million to $243 million. The company is maintaining its guidance range for net income of $25 million to $27 million.

Invacare records declines

ELYRIA, Ohio – Invacare reported net sales of $250.9 million for the third quarter of 2017, compared to $268.1 million for the same period last year. It reported a net loss of $18.6 million vs. $5 million. For the North America/HME business unit, Invacare recorded net sales of $79.5 million for the third quarter of this year, compared to $99.3 million for the same period last year, a 19.9% decrease. “We are pleased to see this turn in sequential sales growth in NA/HME, which is largely the result of new product offerings and increased commercial effectiveness," said Matthew Monaghan, chairman, president and CEO, of the $79.5 million vs. $77.7 million in net sales in the third quarter vs. second quarter. Most recently, Invacare launched the Invacare TDX SP2 Power Wheelchair with LiNX and the Platinum Mobile Oxygen Concentrator with Connectivity.