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Inogen Inc (INGN) stock

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NASDAQ: INGN Nasdaq Health Care Equipment Next results ~November 5, 2026

C+ Fundamentals grade

Inogen Inc is a US-listed company in the health care equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$21

Revenue-to-maturity cash-flow model

Base case. Range ~$18–$25 across our lower- and higher-growth cases (0%–8.2% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Inogen Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds81 adding, 43 cuttingOf 28 active managers that changed their stake, 15 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Inogen files

Where Inogen stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $354m, up 3.2% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin rose to -1.4% from -3.3% a year earlier. The diluted share count is up 8.9% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $20.95 a share, against a share price of $7.32.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Inogen Inc's trailing-twelve-month revenue grew 3.2% year on year, with a free-cash-flow margin of -1.4%.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 56.4% while net income grew 5.6%: a 51pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Net cash. Cash exceeds long-term debt by $0.1bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Loss-making. Operating margin is -8.7%: costs exceed revenue.
  • Burning cash. Free cash flow was -1.4% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 8.9% in a year.

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
$0.00 against an average estimate of -$0.06: beat by 100.0%
Revenue
$95m, up 3.0% on a year earlier
Share reaction
-7.8% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
adjusted EBITDA $4m (full year 2026); reported revenue $355m to $361m (full year 2026)
Next report
November 5, 2026; average EPS estimate -$0.06

Inogen's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.1%
  • 1 week-3.0%
  • 1 month+15.1%
  • This year+2.2%
  • 1 year-16.6%
  • 5 years-82.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$354M
Operating margin
-8.7%
Net margin
-6.9%
EPS (TTM, diluted)
$-0.91

Growth

Revenue growth
+3.2%
Change in growth rate
−0.2 pts
Share count change
+8.9%

Cash

Free cash flow (TTM)
-$5M
FCF margin
-1.4%
Stock pay % of revenue
2.1%

Earnings

Last results
August 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Results
  3. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Inogen Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value Inogen Inc as an operating company, with every model that fits that kind of business. Cost of equity 9.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.93 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$21 ~$18–$25 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$13 ~$15–$66 Included, half weight
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$19 ~$13–$21 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Inogen Inc with Health Care Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$40.09$67.17$119.08$124.17$68.33$44.68$34.00$19.71$5.49$9.17$6.72$6.87
Market value$830m$1.4bn$2.6bn$2.8bn$1.5bn$982m$765m$450m$127m$217m$179m$187m
+ Net debt (− = net cash)−$66m−$93m−$143m−$197m−$198m−$212m−$236m−$187m−$125m−$114m−$104m−$87m
Enterprise value$764m$1.3bn$2.5bn$2.6bn$1.3bn$770m$529m$263m$2m$103m$75m$99m
Multiples
Price / sales 5.2x7.0x10.5x7.8x4.2x3.2x2.1x1.2x0.4x0.6x0.5x0.5x
Price / earnings 71.7x69.1x124.2x53.9x72.5x———————
Price / free cash flow 23.1x48.3x45.3x53.8x40.6x30.1x42.1x——84.9x——
EV / EBITDA 26.3x36.4x61.8x52.8x39.3x117.5x17.1x—————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

41 /100

Weak moat

How hard Inogen's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -0.3% of total assets over 10 years.

  • Pricing power 15 / 20

    Gross margin has been a median 46.0%, moving by 3.0 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -2.6%; its worst year was -30.3%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 5 of 10 years, at a median 4.7% of revenue.

  • Discipline 9 / 20

    The diluted share count rose 21.9% over five years; stock-based pay has been a median 3.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $92m and EPS of −$0.06 (range −$0.06 to −$0.06) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.28 +7% $356m +2%
Next −$0.16 +43% $373m +5%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −24.3% on 90 days ago. In the last 30 days, 0 analysts raised Inogen Inc's forecast and 1 cut it.

Consensus EPS forecast Inogen Inc, last 90 days
−$0.40 −$0.30 −$0.20 −$0.10 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.37 Current fiscal year, 60 days ago: −$0.37 Current fiscal year, 30 days ago: −$0.37 Current fiscal year, 7 days ago: −$0.28 Current fiscal year, Now: −$0.28 −$0.28 Next fiscal year, 90 days ago: −$0.26 Next fiscal year, 60 days ago: −$0.26 Next fiscal year, 30 days ago: −$0.26 Next fiscal year, 7 days ago: −$0.16 Next fiscal year, Now: −$0.16 −$0.16

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.37−$0.26
60 days ago −$0.37−$0.26
30 days ago −$0.37−$0.26
7 days ago −$0.28−$0.16
Now −$0.28−$0.16

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.06 $0.00 +100.0%
Mar 2026 −$0.21 −$0.14 +33.3%
Dec 2025 −$0.18 −$0.15 +16.7%
Sept 2025 −$0.09 −$0.02 +77.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • reported revenue full year 2026 $355m to $361m
    “For the full year 2026, Inogen now expects reported revenue in the range of $355 million to $361 million, reflecting approximately 3% growth at the midpoint of the range relative to the Company's 2025 revenue.” source
  • adjusted EBITDA full year 2026 about $4m Non-GAAP Raised
    “The Company now expects full year 2026 adjusted EBITDA of approximately $4.0 million representing a 48.1% increase from $2.7 million reported in 2025.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

2 analysts, Oct 2026
Buy2100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026112
  2. Sep 2026112

Counts of recommendations published by analysts covering Inogen Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.9%
of tradable shares
Days to cover
3.88
at average volume
Short interest, 1 month
+12%
to October 15, 2026
Held by institutions
80%
of shares
Held by insiders
12.9%
of shares
Employees
753
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −16.6%

$8.24 on October 31, 2025 to $6.87

ThenNowEffect
Revenue (last 12 months) $343m $354m +3.2%
P/S multiple 0.6x 0.5x −11.9%
Share count 25m 27m −8.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +28.9%

$5.33 on November 3, 2023 to $6.87

ThenNowEffect
Revenue (last 12 months) $349m $354m +1.4%
P/S multiple 0.4x 0.5x +50.1%
Share count 23m 27m −15.4%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
INGN−24%−42%−72%+67%−27%+2%
Industry peers (median)−7%−37%−8%−20%−16%−15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
INGN58%33%33%50%42%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
INGN−64%−46%−84%−38%−54%−31%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 99% from September 14, 2018 to October 27, 2023. Getting back needed a 6620% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$5.09 – $8.21
From 52-week high
−16.3%
vs 50-day average
+17.2%
vs 200-day average
+10.3%
Volatility (1 year)
44%
Beta vs S&P 500
0.56

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±12.3%
After a week
6 up, 6 down
typical move ±17.0%
After a month
5 up, 7 down
typical move ±17.3%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −7.8% +0.5% −11.4% −17.4%
May 7, 2026 −1.3% +0.5% −4.4% −14.8%
February 24, 2026 +5.8% +1.6% +9.3% +13.0%
January 12, 2026 −11.5% 0.0% −11.7% −12.8%
November 5, 2025 −12.8% −0.7% −12.0% −13.9%
August 7, 2025 +2.9% +0.7% +21.7% +34.1%
May 7, 2025 −10.2% +1.1% −16.8% −6.8%
February 25, 2025 −17.6% −0.4% −18.4% −27.1%
January 13, 2025 +11.2% +0.3% +17.2% +6.2%
November 7, 2024 +15.9% +1.2% +4.0% −0.6%
August 6, 2024 +35.5% +0.2% +52.7% +43.0%
May 7, 2024 +14.6% +0.1% +24.1% +17.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Inogen Inc in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Inogen Inc
$310M $320M $330M $340M $350M $360M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $327.9M Revenue (TTM), FY23 Q4: $315.7M Revenue (TTM), FY24 Q1: $321.5M Revenue (TTM), FY24 Q2: $326.7M Revenue (TTM), FY24 Q3: $331.5M Revenue (TTM), FY24 Q4: $335.7M Revenue (TTM), FY25 Q1: $340M Revenue (TTM), FY25 Q2: $343.5M Revenue (TTM), FY25 Q3: $347M Revenue (TTM), FY25 Q4: $348.7M Revenue (TTM), FY26 Q1: $351.5M Revenue (TTM), FY26 Q2: $354.3M $354.3M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $327.9M
FY23 Q4 $315.7M
FY24 Q1 $321.5M
FY24 Q2 $326.7M
FY24 Q3 $331.5M
FY24 Q4 $335.7M
FY25 Q1 $340M
FY25 Q2 $343.5M
FY25 Q3 $347M
FY25 Q4 $348.7M
FY26 Q1 $351.5M
FY26 Q2 $354.3M
Revenue growth, TTM YoY Inogen Inc
-20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -10.3% Revenue growth, TTM YoY, FY23 Q4: -16.3% Revenue growth, TTM YoY, FY24 Q1: -12.9% Revenue growth, TTM YoY, FY24 Q2: -6.5% Revenue growth, TTM YoY, FY24 Q3: 1.1% Revenue growth, TTM YoY, FY24 Q4: 6.4% Revenue growth, TTM YoY, FY25 Q1: 5.7% Revenue growth, TTM YoY, FY25 Q2: 5.1% Revenue growth, TTM YoY, FY25 Q3: 4.7% Revenue growth, TTM YoY, FY25 Q4: 3.9% Revenue growth, TTM YoY, FY26 Q1: 3.4% Revenue growth, TTM YoY, FY26 Q2: 3.2% 3.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -10.3%
FY23 Q4 -16.3%
FY24 Q1 -12.9%
FY24 Q2 -6.5%
FY24 Q3 1.1%
FY24 Q4 6.4%
FY25 Q1 5.7%
FY25 Q2 5.1%
FY25 Q3 4.7%
FY25 Q4 3.9%
FY26 Q1 3.4%
FY26 Q2 3.2%
Operating margin (TTM) Inogen Inc
-60% -40% -20% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -42.4% Operating margin (TTM), FY23 Q4: -34.7% Operating margin (TTM), FY24 Q1: -32.3% Operating margin (TTM), FY24 Q2: -30.3% Operating margin (TTM), FY24 Q3: -18.1% Operating margin (TTM), FY24 Q4: -12.7% Operating margin (TTM), FY25 Q1: -10.0% Operating margin (TTM), FY25 Q2: -9.6% Operating margin (TTM), FY25 Q3: -9.3% Operating margin (TTM), FY25 Q4: -8.7% Operating margin (TTM), FY26 Q1: -9.1% Operating margin (TTM), FY26 Q2: -8.7% -8.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -42.4%
FY23 Q4 -34.7%
FY24 Q1 -32.3%
FY24 Q2 -30.3%
FY24 Q3 -18.1%
FY24 Q4 -12.7%
FY25 Q1 -10.0%
FY25 Q2 -9.6%
FY25 Q3 -9.3%
FY25 Q4 -8.7%
FY26 Q1 -9.1%
FY26 Q2 -8.7%
FCF margin (TTM) Inogen Inc
-8% -6% -4% -2% 0% 2% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -6.1% FCF margin (TTM), FY23 Q4: -2.7% FCF margin (TTM), FY24 Q1: -2.2% FCF margin (TTM), FY24 Q2: -0.8% FCF margin (TTM), FY24 Q3: 0.4% FCF margin (TTM), FY24 Q4: 0.8% FCF margin (TTM), FY25 Q1: -2.5% FCF margin (TTM), FY25 Q2: -3.3% FCF margin (TTM), FY25 Q3: -4.4% FCF margin (TTM), FY25 Q4: -3.9% FCF margin (TTM), FY26 Q1: -1.0% FCF margin (TTM), FY26 Q2: -1.4% -1.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -6.1%
FY23 Q4 -2.7%
FY24 Q1 -2.2%
FY24 Q2 -0.8%
FY24 Q3 0.4%
FY24 Q4 0.8%
FY25 Q1 -2.5%
FY25 Q2 -3.3%
FY25 Q3 -4.4%
FY25 Q4 -3.9%
FY26 Q1 -1.0%
FY26 Q2 -1.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 49 75 113 159 203 249 358 362 308 358 377 316 336 349 354
Gross profit 24 39 56 76 97 121 179 172 138 176 154 127 155 154 158
EBITDA 6 13 23 29 36 40 49 34 7 31 −62 −91 −22 −10 −14
Operating income 1 4 11 15 23 28 38 20 −12 9 −85 −109 −43 −30 −31
Net income 1 25 7 12 21 21 52 21 −6 −6 −84 −102 −36 −23 −25
Diluted EPS −$2.50 $0.68 $0.30 $0.56 $0.97 $0.96 $2.30 $0.94 −$0.27 −$0.28 −$3.67 −$4.42 −$1.52 −$0.86 −$0.91
Growth (year on year)
Revenue — +55.3% +49.2% +41.3% +27.6% +23.0% +43.6% +1.1% −14.8% +16.1% +5.4% −16.3% +6.4% +3.9% +3.2%
EBITDA — +123.8% +73.7% +28.6% +25.3% +9.5% +23.3% −31.6% −80.5% +370.8% −300.0% — — — —
Operating income — — +135.5% +43.2% +51.9% +20.7% +37.3% −47.8% −160.8% — <−999% — — — —
Net income — — −73.2% +69.7% +77.1% +2.4% +146.9% −59.6% −127.8% — — — — — —
Diluted EPS — — −55.9% +86.7% +73.2% −1.0% +139.6% −59.1% −128.7% — — — — — —
Margins
Gross margin 49.3% 51.7% 49.3% 48.0% 48.0% 48.6% 49.9% 47.5% 44.8% 49.3% 40.7% 40.1% 46.1% 44.2% 44.5%
EBITDA margin 12.0% 17.2% 20.1% 18.3% 18.0% 16.0% 13.7% 9.3% 2.1% 8.6% −16.4% −28.9% −6.4% −2.7% −3.8%
Operating margin 1.7% 5.9% 9.3% 9.5% 11.3% 11.1% 10.6% 5.5% −3.9% 2.6% −22.6% −34.7% −12.7% −8.7% −8.7%
Net margin 1.2% 33.7% 6.1% 7.3% 10.1% 8.4% 14.5% 5.8% −1.9% −1.8% −22.2% −32.5% −10.7% −6.5% −6.9%
Free-cash-flow margin 4.1% 13.8% 12.6% 22.6% 14.5% 23.1% 14.5% 10.3% 10.6% 5.1% −10.8% −2.7% 0.8% −3.9% −1.4%
Cash flow
Cash from operations 4 13 16 38 31 60 60 41 37 24 −38 −3 6 −11 −3
Capital spending 2 3 2 2 2 3 8 3 4 5 3 5 3 3 2
Free cash flow 2 10 14 36 29 58 52 37 33 18 −41 −8 3 −14 −5
Stock-based pay 0 0 1 4 7 10 13 9 8 11 12 7 7 8 7
Free cash flow after stock pay 2 10 13 32 22 48 39 28 24 7 −53 −16 −5 −22 −12
Balance sheet
Cash 15 14 57 66 93 143 197 198 212 236 187 125 114 104 87
Total debt 0 11 1 0 0 0 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −15 −3 −56 −66 −93 −143 −197 −198 −212 −236 −187 −125 −114 −104 −87
Diluted shares 2m 2m 18m 21m 21m 22m 23m 22m 22m 22m 23m 23m 24m 27m 27m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $286m
Short-term assets $194mLonger-term assets $91m
What it owes, and who funded it · $286m
Short-term liabilities $71mLonger-term liabilities $40mShareholders' equity $175m
  • Short-term assets cover short-term liabilities $194m of assets due within a year against $71m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $194m short-term assets against $40m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Inogen Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+8.9%
year over year
R&D spending
6.0%
of revenue
Days sales outstanding
48 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care equipment
Last 12 months unless stated INGN TCMD STAA INMD PRCT ANGO Median
Revenue, last 12 months $354m $356m $340m $370m $337m $325m $99m
Revenue growth, last 12 months 3.2% 14.4% 51.3% −6.2% 22.7% 8.2% 9.2%
Revenue growth, 3-year average 0.5% 9.6% 9.2% — 49.2% −1.1% 13.5%
Revenue growth, latest quarter 3.0% 7.1% 111.0% — 19.3% 6.9% 10.2%
Gross margin 44.5% 77.0% 76.6% 78.5% 64.2% 55.7% 61.2%
Operating margin −8.7% 9.4% 4.0% 23.0% −33.9% −11.2% −8.5%
Operating margin, 3-year average −16.2% 8.1% −12.3% 28.9% −43.1% −35.3% −17.9%
Net margin −6.9% 6.7% 1.1% 25.3% −32.5% −10.1% −12.0%
Cash from operations / revenue −0.7% 9.0% −1.0% 23.0% −22.0% 1.1% −1.9%
Free-cash-flow margin −1.4% 8.1% −2.0% 22.7% −25.2% 0.4% −3.9%
Free-cash-flow margin, 3-year average −1.8% 11.6% −5.8% 32.8% −39.8% −3.8% −7.0%
Stock pay / revenue 2.1% 2.5% 8.3% 3.0% 15.7% 4.3% 6.1%
Change in share count 8.9% −1.7% 2.6% −18.8% 4.2% 1.8% 4.0%

Median of all 134 companies we cover in health care equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

134 health care equipment companies
Measure Company Peer median Rank
Revenue growth Growth 3.2% 9.1% 93 of 129
Change in growth rate Growth -0.2pp -0.6pp 59 of 129
Gross margin Profitability 44.5% 61.9% 92 of 123
Operating margin Profitability -8.7% -8.3% 67 of 132
Net margin Profitability -6.9% -12.0% 56 of 133
Free-cash-flow margin Cash generation -1.4% -3.4% 56 of 128
Stock pay as % of revenue Cash generation 2.1% 6.1% 31 of 123
Change in share count Balance sheet 8.9% 3.3% 82 of 115
Days sales outstanding Balance sheet 48 days 57 days 32 of 118

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue YoY
United States $156M ▼ 3.1%
Outside the US $139M ▲ 18.4%

These categories overlap or exclude eliminations, so shares aren't shown.

From Inogen Inc's 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$125M
Institutions reporting
127
Shares held vs prior quarter
▲ 1.9%
Positions opened / closed
18 / 13

Top buyers and sellers, Q2 2026: 81 institutions bought and 43 sold ; the biggest buyer was AQR Capital Management LLC (+510K shares) and the biggest seller Point72 Asset Management, L.P (−471K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $11.3M 1.7M 9.0% ▲ 6.2%
Armistice Capital, LLC $7.1M 1.1M 5.7% ▼ 8.7%
Acadian Asset Management LLC $7.1M 1.1M 5.7% ▲ 1.2%
Vanguard Capital Management LLC $6.7M 1.0M 5.4% ▲ 0.2%
Ameriprise Financial Inc $6.3M 983K 5.1% ▲ 14.4%
AQR Capital Management LLC $6M 937K 4.8% ▲ 119.5%
Dafna Capital Management LLC $5.5M 845K 4.4% 0.0%
Arrowstreet Capital, Limited Partnership $4.8M 743K 3.8% ▲ 26.8%
Morgan Stanley $4.2M 646K 3.3% ▲ 19.4%
Geode Capital Management, LLC $4.1M 642K 3.3% ▲ 4.6%
State Street Corp $3.8M 592K 3.1% ▲ 3.3%
Federated Hermes, Inc. $3.5M 535K 2.8% ▲ 3.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Inogen Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $142,519 2 trades by 1 insider · 100% under pre-set plans
Net ▼ $142,519 net selling
Insider Date Trade Shares Price Value
Yi Boyer Jennifer M EVP Entrprs Enblmnt, Ch HR Off July 1, 2026 Sell pre-set plan 10,938 $6.60 $72,191
Yi Boyer Jennifer M EVP Entrprs Enblmnt, Ch HR Off May 29, 2026 Sell pre-set plan 10,770 $6.53 $70,328

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Inogen Inc disclosed in the last 12 months; 1 earlier trade on record.

  • Lamar Smith(TX):Purchase, $1,001 - $15,000, traded November 20, 2018, filed December 13, 2018

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around October 19, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 24, 2026
  • January 12, 2026
  • November 5, 2025
  • August 7, 2025

Recent SEC filings

Data status

When each part of this page on Inogen Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Inogen Inc in brief

What does Inogen Inc do?
Inogen Inc is a US-listed company in the health care equipment industry. Its financial year ends in December.
What is Inogen Inc's stock ticker?
Inogen Inc trades under the ticker INGN on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Inogen Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Inogen Inc reported revenue of $354M, 3.2% higher than a year earlier, according to its SEC filings.
What is Inogen Inc's free cash flow?
Inogen Inc's free-cash-flow margin is -1.4% of revenue over the trailing twelve months, ranking 56 of the 128 health care equipment companies we cover.
Who are Inogen Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Armistice Capital, LLC and Acadian Asset Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Inogen Inc's market cap?
On November 2, 2026, Inogen Inc's market capitalisation was about $187M and net debt of -$87.3M. Market figures come from third-party market data and may be delayed.
Who are Inogen Inc's competitors?
In our Health Care Equipment peer group, the companies closest to Inogen Inc are Tactile Systems Technology Inc, Staar Surgical Co, Inmode Ltd., Procept Biorobotics Corp and Angiodynamics Inc. The side-by-side comparison below sets their revenue, margins and growth against Inogen Inc's.
Are insiders buying or selling Inogen Inc stock?
Over the last 12 months, Inogen Inc's directors and officers reported 0 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is Inogen Inc's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Inogen Inc announces its own schedule.