Tag: Nabil Shabshab
Inogen replaces CEO
November 13, 2023HME News Staff
GOLETA, Calif. - Inogen’s board of directors today, Nov. 13, appointed Kevin Smith as president and CEO effective immediately, succeeding Nabil Shabshab.
Smith, who will also be a member of the board, brings more than 20 years of commercial leadership experience in the medical device industry, including respiratory care and DME businesses, and has a history of success in executing value-creating transformations across organizations. He most recently served as CEO at Sirtex Medical,...
Inogen cites progress amid revenue declines
November 10, 2023Liz Beaulieu, Editor
GOLETA, Calif. – Inogen continues to address lingering headwinds and refine its strategy to, ultimately, position itself for a more productive 2024, said CEO Nabil Shabshab during a recent conference call.
The company reported revenues were $17.3 million for its domestic business-to-business channel in the third quarter, a 59.4% decrease year over year.
“We recognized revenue of $17.3 million, which was impacted by residual headwinds to our business from the share loss...
Inogen ‘fell short’ in Q2
August 11, 2023Liz Beaulieu, Editor
GOLETA, Calif. – Inogen’s new strategy is taking longer than expected, says CEO Nabil Shabshab, resulting in “disappointing” financial results for the second quarter, especially for its direct-to-consumer sales channel.
The company reported $26.8 million in DTC sales for the quarter compared to $40.6 million for the same period last year.
“While we have made progress with the execution of our commercial strategy, we are disappointed with the performance...
Inogen readies for ramp up
May 5, 2023Liz Beaulieu, Editor
GOLETA, Calif. – Inogen’s 10.2% decrease in total revenues for the first quarter of 2023 was impacted, in part, by HME provider customers tightening their belts, but the company is making progress winning them over with its value proposition, says CEO Nabil Shabshab.
The company reported sales revenue of $55.8 million for the first quarter of 2023 compared to $67.4 million for the same period in 2022, about a 17% decrease.
“There were some challenges in the business-to-business...
Inogen details new strategy
March 3, 2023Liz Beaulieu, Editor
GOLETA, Calif. – Inogen is prioritizing its prescriber channel as it seeks to drive productivity and profitability, and transform itself into “a med tech company that has a global footprint and can go beyond COPD,” says CEO Nabil Shabshab.
Compared to the direct-to-consumer channel, which requires significant investments in advertising and a salesforce to generate and convert leads, the prescriber channel has a higher return on investment, he says.
“(The...
Inogen: ‘We’re continuing to see healthy orders’
November 4, 2022Liz Beaulieu, Editor
GOLETA, Cailf. – Two major factors contributed to Inogen’s 13.2% increase in revenue in the third quarter: The company remediated “the significant portion of its backlog,” and it made “excellent progress” with its prescriber strategy, says President and CEO Nabil Shabshab.
Shabshab declined to detail the size of the backlog of orders in its domestic business-to-business channel, but Inogen recorded $42.5 million in sales for the channel in the third...
Inogen reports double-digit increase in Q3
November 2, 2022HME News Staff
GOLETA, Calif. – Inogen has reported total revenue of $105.4 million for the third quarter of 2022, a 13.2% increase compared to the same period last year.
Revenue increased primarily due to higher domestic business-to-business sales, as well as continued strength in the rental channel, partially offset by lower international business-to-business and direct-to-consumer sales
“I am pleased with the progress the team has made on our transformational journey,” said...
Inogen tries to ‘block and tackle’ supply chain challenges
May 6, 2022Liz Beaulieu, Editor
GOLETA, Calif. – Supply chain challenges, as well as a temporary shutdown at facilities in Texas and California earlier this year, forced Inogen to prioritize available supply in the first quarter of 2022 to its domestic direct-to-consumer and rental channels, contributing to an 83.4% drop in revenues for its business-to-business channel.
“As of early May, we have started shipments to our domestic B2B channel in order to alleviate some of the backlog in our system,”...
Inogen: DTC sales up, B2B sales down
February 25, 2022HME News Staff
GOLETA, Calif. – Inogen reported revenue of $76.4 million for the fourth quarter of 2021, an increase of 3.3% over the same period in 2020, driven by a 23.3% in domestic direct-to-consumer sales to $33 million.
Domestic business-to-business sales in the fourth quarter of 2021 decreased 57.6% to $10.3 million compared to $24.2 million in the fourth quarter of 2020, primarily due to the supply chain constraints that limited product availability in this channel.
Rental revenue...
Inogen temporarily halts manufacturing at some locations
January 12, 2022HME News Staff
GOLETA, Calif. – Inogen says its revenues are expected to increase for the fourth quarter of 2021, but a chip shortage has forced the company to temporarily suspend manufacturing operations at its Texas and California locations.
Inogen doesn’t expect to furlough any employees as a result of the suspension, as the company currently anticipates restarting manufacturing at all locations around mid- to late February 2022 based on the information available to date.
For the...