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Financials · INGN

Inogen Inc (INGN) financials

For the twelve months ended Sep 30, 2026, Inogen Inc reported $379.32M of revenue and -$35.46M of net income.

Revenue, TTM
$379.32M
Revenue growth, YoY
+13.7%
Net income, TTM
-$35.46M
Net margin
-9.3%
Free cash flow, TTM
-$11.33M
EPS, diluted, TTM
-$1.31
Cash
$81.84M
P/S
0.43
Market cap
$162.4M
Annual revenue$348.67M
FY2016FY2025
Annual net income-$22.75M
FY2016FY2025
Annual free cash flow-$13.74M
FY2016FY2025

INGN revenue and earnings growth

INGN revenueQ3 2026$77.19M

Quarter YoY
-2.4%
QoQ
-18.8%
FY YoY
+3.9%
5Y CAGR
+2.5%
10Y CAGR
+8.2%

INGN revenue was $77.19M in fiscal Q3 2026 (ended Sep 30, 2026), down 2.4% from a year earlier and down 18.8% from the prior quarter. For the full fiscal 2025 it was $348.67M, up 3.9% from fiscal 2024. Compound annual growth was +2.5% over 5 years and +8.2% over 10 years. It rose in 8 of the last 10 fiscal years.

INGN net incomeQ3 2026-$16.16M

INGN net income was -$16.16M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$5.29M a year earlier. For the full fiscal 2025 it was -$22.75M, compared with -$35.89M in fiscal 2024.

INGN EPSQ3 2026-$0.61

INGN diluted EPS was -$0.61 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.20 a year earlier. For the full fiscal 2025 it was -$0.86, compared with -$1.52 in fiscal 2024.

INGN free cash flowQ3 2026-$4.75M

INGN free cash flow was -$4.75M in fiscal Q3 2026 (ended Sep 30, 2026), compared with $1.60M a year earlier. For the full fiscal 2025 it was -$13.74M, compared with $2.55M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$348.67M$335.70M$315.66M$377.24M$358.00M$308.49M$361.94M$358.11M$249.44M$202.83M
Cost of revenue$194.40M$180.96M$188.96M$223.71M$181.52M$170.31M$190.08M$179.53M$128.20M$105.52M
Gross profit$154.26M$154.74M$126.70M$153.53M$176.48M$138.18M$171.86M$178.58M$121.24M$97.31M
Research and development$19.40M$21.61M$20.84M$21.94M$16.58M$14.08M$9.40M$7.03M$5.31M$5.11M
Selling, general and admin$67.38M$72.58M$75.26M$43.91M$37.85M$38.60M$37.12M$38.02M$37.58M$31.79M
Operating income-$30.21M-$42.52M-$109.39M-$85.24M$9.24M-$12.03M$19.79M$37.89M$27.59M$22.86M
Interest expense---------$6.0K
Pre-tax income-$23.38M-$36.48M-$102.34M-$83.27M$8.66M-$5.28M$24.27M$40.45M$29.66M$22.73M
Income tax-$632.0K-$588.0K$105.0K$504.0K$14.99M$549.0K$3.32M-$11.39M$8.65M$2.21M
Net income-$22.75M-$35.89M-$102.45M-$83.77M-$6.33M-$5.83M$20.95M$51.84M$21.00M$20.52M
EPS, basic-$0.86-$1.52-$4.42-$3.67-$0.28-$0.27$0.96$2.44$1.02$1.02
EPS, diluted-$0.86-$1.52-$4.42-$3.67-$0.28-$0.27$0.94$2.30$0.96$0.97
Diluted shares26.6M23.7M23.2M22.9M22.5M22.0M22.2M22.5M21.9M21.1M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$103.73M$113.80M$125.49M$187.01M$235.52M$211.96M$198.04M$196.63M$142.95M$92.85M
Receivables$34.14M$29.56M$42.24M$62.73M$24.45M$29.72M$34.33M$37.04M$31.44M$30.83M
Inventory$25.97M$24.81M$21.84M$34.09M$31.87M$24.82M$35.66M$27.07M$18.84M$14.34M
Current assets$224.60M$185.45M$207.07M$304.64M$329.19M$305.70M$292.22M$314.58M$228.49M$161.54M
Goodwill$10.70M$9.46M$10.06M$32.85M$32.98M$33.16M$32.95M$2.26M$2.36M-
Total assets$298.63M$296.19M$326.19M$405.04M$489.51M$461.85M$447.34M$375.90M$275.07M$214.05M
Current liabilities$63.53M$76.69M$72.50M$65.35M$61.51M$56.71M$50.18M$46.59M$33.89M$22.84M
Total liabilities$106.39M$122.33M$121.38M$107.64M$119.29M$112.23M$102.72M$65.47M$48.03M$31.96M
Shareholders' equity$192.23M$173.86M$204.81M$297.41M$370.23M$349.62M$344.62M$310.42M$227.04M$182.09M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$11.22M$5.91M-$3.23M-$37.53M$23.63M$37.01M$40.59M$59.98M$60.49M$31.03M
Capital expenditures$2.52M$3.36M$5.22M$3.34M$5.48M$4.38M$3.14M$8.04M$2.91M$1.72M
Free cash flow-$13.74M$2.55M-$8.45M-$40.87M$18.15M$32.63M$37.45M$51.93M$57.58M$29.32M
Investing cash flow-$26.21M-$13.97M-$59.31M-$10.88M-$14.64M-$25.64M-$44.06M-$24.96M-$24.43M-$11.93M
Financing cash flow$24.18M$265.0K$960.0K$380.0K$15.00M$2.07M$4.93M$18.30M$14.00M$7.71M
Stock-based compensation$8.01M$7.40M$7.43M$12.28M$10.94M$8.20M$9.13M$12.79M$9.64M$7.29M
Depreciation and amortization$20.66M$21.00M$18.15M$23.51M$21.63M$18.58M$13.83M$11.29M$12.30M$13.56M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY3.9%6.4%-16.3%5.4%16.1%-14.8%1.1%43.6%23.0%27.6%
Net income growth, YoY-------59.6%146.9%2.4%77.1%
EPS growth, YoY-------59.1%139.6%-1.0%73.2%
Gross margin44.2%46.1%40.1%40.7%49.3%44.8%47.5%49.9%48.6%48.0%
Operating margin-8.7%-12.7%-34.7%-22.6%2.6%-3.9%5.5%10.6%11.1%11.3%
Net margin-6.5%-10.7%-32.5%-22.2%-1.8%-1.9%5.8%14.5%8.4%10.1%
Free cash flow margin-3.9%0.8%-2.7%-10.8%5.1%10.6%10.3%14.5%23.1%14.5%
Return on equity-11.8%-20.6%-50.0%-28.2%-1.7%-1.7%6.1%16.7%9.3%11.3%
Return on assets-7.6%-12.1%-31.4%-20.7%-1.3%-1.3%4.7%13.8%7.6%9.6%
Current ratio3.542.422.864.665.355.395.826.756.747.07

Source: XBRL data Inogen Inc files with the SEC, latest filing dated Nov 9, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

INGN peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
INGN$379.32M+13.7%-$35.46M-9.3%$162.4M
ISRG$11.58B+20.5%$2.96B25.5%$159.65B
EW$6.67B+13.4%$1.02B15.3%$60.21B
STE$6.17B+8.1%$826.90M13.4%$24.95B
ZBH$8.57B+7.0%$767.30M9.0%$20.50B
MAS$7.67B+0.9%$926.00M12.1%$16.56B
SNN$6.16B+6.1%$625.00M10.1%$13.00B
ALGN$4.16B+4.4%$491.87M11.8%$12.28B
AIT$5.06B+8.5%$424.12M8.4%$10.86B

INGN FAQ

9 questions
  • What is INGN revenue?
    Inogen Inc (INGN) reported $379.32M of revenue for the twelve months ended Sep 30, 2026. That is up 13.7% from the year before. Revenue for fiscal 2025 was $348.67M.
  • Is INGN profitable?
    No. Inogen Inc reported a net loss of $35.46M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does INGN have?
    Inogen Inc reported $81.84M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is INGN revenue growing?
    Inogen Inc's revenue changed +3.9% in fiscal 2025, to $348.67M. Its compound annual growth rate was +2.5% over 5 years and +8.2% over 10 years.
  • What is INGN gross margin?
    Inogen Inc's gross profit was $167.15M on $379.32M of revenue for the twelve months ended Sep 30, 2026, a gross margin of 44.1%.
  • What is INGN free cash flow?
    Inogen Inc generated -$11.33M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$9.15M less capital expenditures.
  • What is INGN earnings per share?
    Diluted earnings per share were -$1.31 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did INGN last report financial results?
    The latest statements here come from Inogen Inc's 10-Q filed on Nov 9, 2026, covering the period ended Sep 30, 2026.
  • Where does this INGN financial data come from?
    Quantisnow builds these statements from the structured XBRL data Inogen Inc files with the SEC. It is provided for information only and is not investment advice.