Inogen 'delighted' with sales
By HME News Staff
Updated Wed November 11, 2015
GOLETA, Calif. - Inogen's direct-to-consumer sales increased 63.7% in the third quarter 2015, the company reported today, a direct result of growing its sales staff.
"I am delighted with the number of qualified sales candidates we were able to bring on board in the quarter, meaningfully expanding our capacity for the future, while at the same time, continuing to provide a strong profit in the current period,” said President/CEO Raymond Huggenberger.
Inogen reported total revenues of $40.8 million for the third quarter of 2015, an increase of 38.7% over the same period one year ago. Total sales for the quarter were $29.2 million, an increase of 50.6%, and rental revenues were $11.5 million, an increase of 15.4%.
The company's fastest growing channel remains domestic business-to-business sales, which rose to nearly $9.8 million, a 77.1% over the same period in 2014, Inogen reported
The company updated its guidance for 2015 to $150 to $153 million. Previously, it forecasted $145 to $149 million. Adjusted EBITDA ranges from $29 million to $32 million.
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