Inogen (NASDAQ:INGN) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Key Points

• Inogen missed earnings expectations in the quarter, reporting EPS of -$0.30 versus the expected -$0.24, even though revenue came in above estimates at $85.1 million.
• Revenue growth was driven by international sales and higher unit volumes, but U.S. sales and rentals declined, highlighting pressure in the company’s core domestic business.
• Management reaffirmed 2026 revenue guidance of $366 million to $373 million and noted progress on new products like Aurora and Voxi 5, while the company also ended the quarter with $111.5 million in cash and no debt.

Inogen (NASDAQ:INGN - Get Free Report) posted its quarterly earnings results on Thursday. The medical technology company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.06), Zacks reports. The business had revenue of $85.11 million for the quarter, compared to the consensus estimate of $82.35 million. Inogen had a negative return on equity of 12.68% and a negative net margin of 7.08%.

Here are the key takeaways from Inogen's conference call:

• Q1 revenue of $85.1 million beat expectations (+3.4% YoY), with unit volumes up 14% and international sales a standout at $37.7 million (+18% YoY).
• U.S. sales declined 5% to $34.7 million and U.S. rentals fell 8%, reflecting a structural channel shift toward POCs that is pressuring direct-to-consumer and rental revenue.
• Product momentum — the U.S. launch of the Aurora CPAP masks has shown strong early adoption and patient preference, and Simeox has begun enrollment in the IMPACTs 200 reimbursement trial to pursue payer coverage.
• Management reaffirmed 2026 guidance of $366–373 million in revenue (~6% growth midpoint) and expects full-year adjusted EBITDA improvement; the company ended Q1 with $111.5 million in cash, no debt, and has started a share repurchase program.
• Profitability pressure in Q1 — adjusted EBITDA was negative $1.4 million (versus ~break-even prior year) and adjusted net loss widened to $4.0 million, driven by stepped-up R&D and marketing investments.

Inogen Stock Performance

Shares of INGN stock traded down $0.17 during midday trading on Friday, hitting $7.02. 819,856 shares of the company were exchanged, compared to its average volume of 308,564. Inogen has a 52 week low of $5.34 and a 52 week high of $9.13. The firm has a market capitalization of $191.86 million, a P/E ratio of -7.71 and a beta of 1.64. The firm's 50 day moving average price is $6.50 and its two-hundred day moving average price is $6.68.

Institutional Investors Weigh In On Inogen

Several hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. grew its position in shares of Inogen by 3.9% in the third quarter. Alliancebernstein L.P. now owns 51,120 shares of the medical technology company's stock valued at $418,000 after purchasing an additional 1,900 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Inogen by 14.6% during the 4th quarter. Russell Investments Group Ltd. now owns 19,543 shares of the medical technology company's stock worth $131,000 after purchasing an additional 2,487 shares during the last quarter. Rhumbline Advisers lifted its holdings in Inogen by 7.0% during the 2nd quarter. Rhumbline Advisers now owns 39,059 shares of the medical technology company's stock worth $275,000 after purchasing an additional 2,561 shares during the last quarter. American Century Companies Inc. boosted its stake in Inogen by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 61,238 shares of the medical technology company's stock valued at $431,000 after purchasing an additional 2,858 shares during the period. Finally, Barclays PLC boosted its stake in Inogen by 4.5% in the 4th quarter. Barclays PLC now owns 81,980 shares of the medical technology company's stock valued at $551,000 after purchasing an additional 3,515 shares during the period. 89.94% of the stock is currently owned by institutional investors and hedge funds.

More Inogen News

Here are the key news stories impacting Inogen this week:

• Positive Sentiment: Inogen reaffirmed its 2026 revenue outlook of $366 million to $373 million, citing progress scaling its Aurora and Voxi 5 products, which suggests management still sees a path for growth. Article Title
• Positive Sentiment: Needham maintained a Buy rating and reiterated a $12 price target, pointing to solid Q1 results and potential growth catalysts. Article Title
• Neutral Sentiment: Q1 revenue rose above estimates to $85.1 million, and gross margin improved, helped by stronger international portable oxygen demand; this offsets some softness in the U.S. market. Article Title
• Neutral Sentiment: Management also guided Q2 revenue to $94 million to $97 million, roughly in line with expectations, which may have limited immediate upside from the report. Article Title
• Negative Sentiment: Q1 EPS missed estimates at -$0.30 versus expectations of -$0.24, reinforcing concerns about ongoing profitability and helping explain the stock’s weakness. Article Title

Wall Street Analysts Forecast Growth

Separately, Freedom Capital raised Inogen to a "strong-buy" rating in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $13.00.

Inogen Company Profile

Inogen, Inc NASDAQ: INGN is a medical device company specializing in the development, manufacture and marketing of innovative oxygen therapy solutions. The company's core focus is on portable oxygen concentrators (POCs) designed to support patients with chronic respiratory conditions such as chronic obstructive pulmonary disease (COPD). Inogen's offerings aim to provide users with mobility and independence by reducing reliance on traditional compressed-gas cylinders and enabling oxygen therapy on the go.

Inogen's flagship product line, including the Inogen One family of portable oxygen concentrators, leverages proprietary flow technology to deliver continuous and pulse-dose oxygen.

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