Inogen reports record sales year
By HME News Staff
Updated Wed February 27, 2019
GOLETA, Calif. - Inogen reported total revenues of $86.5 million for the fourth quarter of 2018, an increase of 35.7% over the same period in 2017. Sales revenues were $80.7 million and rental revenues were $5.8 million. Total year revenue was $358.1 million in 2018, up 43.6% compared to 2017, with record sales revenue of $336 million, up 49%. Total units sold for the year were 198,600, an increase of 55.2% compared to 2017. Inogen has increased the number of direct-to-consumer inside sales representatives to 446, an increase of 69.6% over the previous year. “The fourth quarter of 2018 was another investment quarter for us as we continued to scale our sales infrastructure to drive future revenue growth,” said CEO Scott Wilkinson. “We are executing on our strategic initiatives and remain focused on increasing global adoption of our best-in-class portable oxygen concentrators. We believe we will see strong revenue growth in 2019 driven by our prior investments and by continued patient and provider demand for our products.”
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