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Inogen (INGN)
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Inogen Income Statement 2025-2011 | INGN
Brief overview of revenue and earnings at Inogen
This overview is based on financial performance over the past five years. Revenue at Inogen moved from $308 million in 2020 to $349 million in 2025. The cumulative result was +13%, corresponding to roughly 2.5% per year. Revenue was effectively stagnant over the period.
At the gross-profit level, the result moved from $138 million to $154 million, a change of +11.6%. Revenue and direct costs changed at similar rates. At the margin level, the figure shifted from 44.8% to 44.2%. There was no meaningful shift in gross profitability.
Over the period, EBITDA shifted from $6.6 million to −$9.5 million, a change of −245.6%. The operating result developed less favorably than sales. At the operating-margin level, the figure shifted from 2.1% to −2.7%. Cost pressure reduced operating profitability.
Comparing the endpoints shows a move from −$5.8 million to $22.7 million. The company restored profitability by the end of the period.
The market value of the business moved from $1.1 billion to $160 million, or −85.1%. Financial performance is stronger than the share-price trend.
Summary assessment
Signs of deterioration dominate the five-year picture. The strongest signals are a stable gross margin and net-income growth. The most visible risks are limited operating profitability, a weaker market valuation and pressure on operating profitability. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.
Annual Income Statement Inogen
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
160 M | 195 M | 161 M | 365 M | 669 M | 1.08 B | 988 M | 3.19 B | 2.61 B | 1.28 B | 645 M | 495 M | - | - | - |
Shares |
26.6 M | 23.7 M | 23.2 M | 22.9 M | 22.5 M | 22 M | 21.8 M | 21.3 M | 20.7 M | 20.1 M | 19.4 M | 16.2 M | - | - | - |
Historical Prices |
6.02 | 8.23 | 6.95 | 16 | 29.7 | 48.9 | 44.3 | 151 | 122 | 64.4 | 33.2 | 30.6 | - | - | - |
Net Income |
22.7 M | 35.9 M | 102 M | 83.8 M | -6.33 M | -5.83 M | 21 M | 51.8 M | 21 M | 20.5 M | 11.6 M | 6.83 M | 25.4 M | 564 K | -2 M |
Revenue |
349 M | 336 M | 316 M | 377 M | 358 M | 308 M | 362 M | 358 M | 249 M | 203 M | 159 M | 113 M | 75.4 M | 48.6 M | 30.6 M |
Cost of Revenue |
194 M | 181 M | 189 M | 224 M | 182 M | 170 M | 190 M | 180 M | 128 M | 106 M | 82.7 M | 57 M | 36.5 M | 24.6 M | - |
Gross Profit |
154 M | 155 M | 127 M | 154 M | 176 M | 138 M | 172 M | 179 M | 121 M | 97.3 M | 76.3 M | 55.5 M | 39 M | 23.9 M | 14.7 M |
Operating Income |
-30.2 M | -42.5 M | -109 M | -85.2 M | 9.24 M | -12 M | 19.8 M | 37.9 M | 27.6 M | 22.9 M | 15.1 M | 10.5 M | 4.46 M | 829 K | - |
Interest Expense |
2.44 M | 850 K | 468 K | -862 K | -710 K | 5.84 M | -229 K | -696 K | 1.3 M | 6 K | 22 K | 449 K | 562 K | 493 K | - |
EBITDA |
-9.55 M | -21.5 M | -91.2 M | -61.7 M | 30.9 M | 6.56 M | 33.6 M | 49.2 M | 39.9 M | 36.4 M | 29.1 M | 22.6 M | 13 M | 5.81 M | 1.48 M |
Operating Expenses |
184 M | 197 M | 236 M | 239 M | 167 M | 150 M | 152 M | 141 M | 93.6 M | 74.4 M | 61.2 M | 45 M | 34.5 M | 23.1 M | 16.4 M |
General and Administrative Expenses |
67.4 M | 72.6 M | 75.3 M | 43.9 M | 37.9 M | 38.6 M | 37.1 M | 38 M | 37.6 M | 31.8 M | 25.7 M | 17.9 M | 13.8 M | 8.29 M | 5.62 M |
All numbers in USD currency
Quarterly Income Statement Inogen
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
27 M | 27.3 M | 27.1 M | 27 M | 25.2 M | 23.9 M | 23.8 M | 23.6 M | 23.4 M | 23.3 M | 23.2 M | 23.1 M | 23 M | 22.9 M | 22.9 M | 22.8 M | 22.8 M | 22.7 M | 22.6 M | 22.4 M | 22.2 M | 22 M | 22 M | 22 M | 21.9 M | 21.9 M | 21.8 M | 21.8 M | 21.8 M | 21.5 M | 21.3 M | 21.2 M | 21 M | 20.9 M | 20.8 M | 20.6 M | 20.5 M | 20.3 M | 20.2 M | 20 M | 19.8 M | 19.7 M | 19.4 M | 19.3 M | 19.2 M | 19.1 M | 18.3 M | 18.2 M | 9.44 M | 281 K | 277 K | 274 K | 272 K | - | - | - | - | - | - | - | - |
Net Income |
-3.85 M | -8.32 M | -5.29 M | -4.15 M | -6.17 M | - | -5.96 M | -5.59 M | -14.6 M | - | -45.7 M | -9.83 M | -20.3 M | - | -9.51 M | -3.44 M | -14.2 M | - | 12.2 M | 5.1 M | -732 K | -5.12 M | -1.7 M | 2.58 M | -1.59 M | -1.38 M | 6.86 M | 10.2 M | 5.3 M | 10 M | 16.4 M | 14.6 M | 10.8 M | -606 K | 7.34 M | 8.34 M | 5.93 M | 5.26 M | 5.25 M | 7.49 M | 2.52 M | 3.86 M | 2.7 M | 3.46 M | 1.57 M | 1.52 M | 2.13 M | 2.29 M | 6.8 M | 22 M | 774 K | 1.96 M | 24.7 M | - | - | - | - | - | - | - | - |
Revenue |
95.1 M | 85.1 M | 92.4 M | 92.3 M | 82.3 M | - | 88.8 M | 88.8 M | 78 M | - | 84 M | 83.6 M | 72.2 M | - | 105 M | 103 M | 80.4 M | - | 93.1 M | 102 M | 86.9 M | 74 M | 74.3 M | 71.7 M | 88.5 M | 78.9 M | 91.8 M | 101 M | 90.2 M | 86.5 M | 95.3 M | 97.2 M | 73.6 M | 63.8 M | 63.1 M | 58 M | 46 M | 50.9 M | 47.2 M | 45.6 M | 32.8 M | 40.4 M | 29.2 M | 32.4 M | 23 M | 29.1 M | 19.4 M | 20.5 M | 14.9 M | 19.8 M | 12.1 M | 12.8 M | 8.9 M | - | - | - | - | - | - | - | - |
Cost of Revenue |
51.8 M | 47.2 M | 51.1 M | 50.9 M | 45.9 M | - | 47.5 M | 46 M | 43.7 M | - | 50.2 M | 49.6 M | 41.4 M | - | 62.6 M | 57.1 M | 45.4 M | - | 45.4 M | 51.2 M | 47.1 M | - | 41.3 M | 38.9 M | 50.1 M | - | 48.4 M | 50.8 M | 45.8 M | - | 46.5 M | 48.8 M | 41.3 M | - | 35.9 M | 32.6 M | 26.8 M | - | 29.3 M | 28.4 M | 21.7 M | - | 21.4 M | 23.2 M | 17.7 M | - | 14.7 M | 15.3 M | 11.7 M | - | 10.1 M | 9.1 M | 7.63 M | - | - | - | - | - | - | - | - |
Gross Profit |
43.3 M | 37.9 M | 41.3 M | 41.3 M | 36.4 M | - | 41.3 M | 42.7 M | 34.4 M | - | 33.8 M | 34 M | 30.7 M | - | 42.8 M | 46.3 M | 35 M | - | 47.7 M | 50.3 M | 39.9 M | 34.1 M | 33 M | 32.7 M | 38.4 M | 33.9 M | 43.3 M | 50.2 M | 44.4 M | 43.6 M | 48.8 M | 48.5 M | 37.7 M | 30.8 M | 33.2 M | 31.6 M | 25.7 M | 24.7 M | 25.1 M | 26.2 M | 21.3 M | 20 M | 19.4 M | 20.8 M | 16 M | 13.8 M | 14.6 M | 15.1 M | 11.9 M | 10.2 M | 9.64 M | 11.1 M | 8.12 M | - | - | - | - | - | - | - | - |
Operating Income |
-5.1 M | -9.34 M | -7.12 M | -6.13 M | -7.66 M | - | -7.79 M | -7.06 M | -16.3 M | - | -46.7 M | -11.8 M | -21.9 M | - | -10.3 M | -2.88 M | -13.6 M | - | 6.37 M | 11.7 M | -2.13 M | - | -1.97 M | -2.35 M | -2.18 M | - | 8.11 M | 12.1 M | 4.86 M | - | 10.4 M | 14 M | 8.7 M | - | 8.33 M | 8.5 M | 5.57 M | - | 5.4 M | 8.02 M | 3.28 M | - | 3.71 M | 5.34 M | 2.52 M | - | 3.57 M | 3.96 M | 1.55 M | - | 886 K | 2.39 M | 633 K | - | - | - | - | - | - | - | - |
Interest Expense |
231 K | -42 K | 606 K | 701 K | 356 K | - | 687 K | 134 K | 143 K | - | -398 K | 337 K | 237 K | - | -12 K | -722 K | -433 K | - | -466 K | 304 K | -310 K | - | -54 K | 5.7 M | -60 K | - | -503 K | 145 K | -120 K | - | 8 K | -1.05 M | 444 K | - | 264 K | 523 K | 207 K | - | 1 K | 2 K | 3 K | - | 5 K | 6 K | 7 K | - | 104 K | 203 K | 133 K | - | 113 K | 95 K | 104 K | - | - | - | - | - | - | - | - |
EBITDA |
4.5 M | -4.43 M | -3.18 M | -2.12 M | -2.47 M | - | -3.58 M | -2.91 M | -11 M | - | -42.3 M | -7.51 M | -17.8 M | - | -6.51 M | 822 K | -7.83 M | - | 22.2 M | 14.7 M | 2.97 M | - | 11.7 M | 6.59 M | 2.28 M | - | 17.3 M | 17.7 M | 7.65 M | - | 18.9 M | 19.8 M | 11.7 M | - | 17.6 M | 14.8 M | 8.78 M | - | 15.7 M | 14.9 M | 6.72 M | - | 14.2 M | 12.3 M | 5.96 M | - | 12.3 M | 9.55 M | 4.21 M | - | 6.88 M | 6.04 M | 2.29 M | - | - | - | - | - | - | - | - |
Operating Expenses |
48.4 M | 47.2 M | 48.4 M | 47.5 M | 44 M | - | 49.1 M | 49.8 M | 50.6 M | - | 80.5 M | 45.8 M | 52.6 M | - | 53.1 M | 49.1 M | 48.6 M | - | 41.3 M | 38.7 M | 42 M | - | 35 M | 35.1 M | 40.5 M | - | 35.2 M | 38.1 M | 39.6 M | - | 38.4 M | 34.4 M | 29 M | - | 24.8 M | 23.1 M | 20.2 M | - | 19.7 M | 18.2 M | 18 M | - | 15.7 M | 15.5 M | 13.5 M | - | 11.1 M | 11.2 M | 10.4 M | - | 8.76 M | 8.66 M | 7.48 M | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
17.7 M | 17.5 M | 18.2 M | 16.9 M | 16.2 M | - | 19.3 M | 18.6 M | 17.1 M | - | 17 M | 14.6 M | 18.9 M | - | 14.8 M | 12.7 M | 15.2 M | - | 9.26 M | 5.22 M | 12.5 M | - | 8.59 M | 9.72 M | 9.78 M | - | 8.52 M | 8.84 M | 9.68 M | - | 9.98 M | 9.68 M | 9.57 M | - | 10.4 M | 9.86 M | 8.34 M | - | 8.7 M | 7.24 M | 7.87 M | - | 6.41 M | 6.94 M | 5.72 M | - | 4.7 M | 3.91 M | 4.05 M | - | 3.53 M | 3.43 M | 2.83 M | - | - | - | - | - | - | - | - |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Inogen (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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