)

Inogen (INGN) investor relations material
Inogen Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue reached $92.3M, up 4% year-over-year, marking six consecutive quarters of mid-single-digit growth, driven by strong B2B performance and new product launches.
Net loss narrowed to $4.2M from $5.6M year-over-year; adjusted net loss was $0.7M, and adjusted EBITDA improved to $2.1M from $1.3M.
Launched Voxi 5 stationary oxygen concentrator and Inogen Patient Portal, expanding the product portfolio and enhancing patient engagement.
Operating cash flow was $4.4M in Q2 2025, with cash, equivalents, and securities totaling $123.7M and no debt.
Strategic collaboration with Yuwell initiated to expand the product portfolio and enter the Chinese market.
Financial highlights
Q2 2025 revenue increased 4% year-over-year to $92.3M, with domestic B2B up 19.3% and international B2B up 17.7%.
Direct-to-consumer sales declined 21.1% year-over-year; rental revenue decreased 8.6% year-over-year.
Gross margin was 44.8%, down from 48.1% year-over-year, mainly due to higher B2B mix and material costs.
Operating expenses decreased 4.7% year-over-year to $47.5M, aided by absence of prior period's one-time bad debt expense.
Cash, equivalents, and marketable securities totaled $123.7M as of June 30, 2025, with no debt.
Outlook and guidance
Full-year 2025 revenue guidance raised to $354M–$357M, representing 6% growth at midpoint; Q3 revenue expected at $91M–$93M, up 4% year-over-year.
Full-year 2025 expected to reach adjusted EBITDA breakeven, with Q4 growth driven by Voxi 5 launch and DTC stabilization.
Management expects current liquidity and cash from operations to be sufficient for at least the next 12 months.
No material impact expected from tariffs or new U.S. tax legislation.
Next Inogen earnings date

The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage