Inogen rides POC wave
GOLETA, Calif. – Inogen on Feb. 23 reported total revenue of $50.9 million for the fourth quarter of 2016, up 25.7% over the same period in 2015. Net income was $5.3 million, a 36.3% increase.
“We’ve once again seen solid revenue growth led by continued strong adoption by home medical equipment providers turning to portable oxygen concentrators,” said CEO Raymond Huggenberger. “We continue to demonstrate that we are not only providing the best in class portable oxygen concentrators to our patients, but also helping our business-to-business customers improve their cost basis in the face of a challenging reimbursement climate.”
Inogen reported total revenue of $202.8 million for all of 2016, up 27.6% over 2015. Net income was $20.5 million, a 77.1% increase.
Inogen has increased its revenue guidance for 2017 to $233 million to $239 million, representing year-over-year growth of 14.9% to 17.8%. It has increased net income and adjusted net income guidance to $21 million to $23 million, representing growth of 2.3% to 12.1%.