Inogen posts big increases, despite seasonally slow quarter
By HME News Staff
Updated Tue May 1, 2018
GOLETA, Calif. - Inogen on Monday reported total revenues of $79.1 million for the first quarter of 2018, a 50.6% increase compared to the same period in 2017. It reported a net income of $10.8 million vs. $5.8 million. “In what is historically a seasonally slower quarter, we were able to generate record revenues driven by strong sales in both our domestic direct-to-consumer and domestic business-to-business channels,” said CEO Scott Wilkinson. Direct-to-consumer sales rose 67.8% in the third quarter of 2018 compared to the same period in 2017, and domestic business-to-business sales rose 60.4%. Breaking down revenues, Inogen reported sales revenues of $73.6 million, up 60.1%; and rental revenues of $5.5 million, down 16.3%. The company says it is increasing its full year 2018 total revenue guidance range to $310 million to $320 million, up from $298 million to $308 million, representing growth of 24.3% to 28.3% compared to 2017. It's also increasing its net income guidance range to $38 million to $41 million, up from $36 million to $39 million, representing growth of 80.9% to 95.2%.
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