Inogen Inc Down 1.71% To $5.18 After Earnings Beat

Wednesday, November 8, 2023 - Inogen Inc (INGN) reported upside earnings and revenues today.

Analyst expectations for Inogen Inc earnings per share (EPS) were at a loss of $0.49 per share, with the company surpassing those estimates with a reported EPS loss of $0.36 per share, leading to a positive surprise of $0.13 per share (27%). Inogen Inc's earnings were down 100% year-over-year as the firm reported an EPS loss of $0.18 per share in its year-ago quarter. The negative annual growth shows the Healthcare company isn't performing well amid current economic conditions.

Revenues were upbeat at $84 million. That represents a 20.33% decrease in revenues from the year-ago report and is 1.83% higher than consensus estimates set at $82.5 million.

The stock is down 1.71% to $5.18 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Inogen Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 41. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Inogen Inc is a medical technology company that develops and manufactures portable oxygen concentrators used to deliver oxygen therapy to patients with chronic respiratory conditions. Its key product, the Inogen One system, is a lightweight alternative to traditional, stationary oxygen concentrator systems and oxygen tanks. The firm sells its products to home medical equipment providers and also rents products directly to patients. The majority of rental revenue comes from Medicare service reimbursement programs. Internationally, Inogen sells its products through distributors or large gas companies and home oxygen providers. Inogen generates the majority of its revenue in the United States.