Q2 2026 Inogen, Inc. Earnings Call Transcript

Aug 6, 2026 / 09:00 PM GMT

Transcript 8-K

Key Points

Positve

Inogen Inc (INGN) delivered strong international revenue growth of 15% year-over-year, marking the 10th consecutive quarter of double-digit growth.
The company's core POC unit volume grew over 12%, outpacing the overall market growth.
New products, Voxy and Aurora, are gaining traction, with Voxy shipping over 5,000 units and Aurora more than doubling its customer count sequentially.
Gross margin expanded by 65 basis points to 45.6%, driven by cost improvements and lower warranty expenses.
The company raised its full-year 2026 adjusted EBITDA guidance to approximately $4 million, representing 48% growth over 2025.
Inogen Inc (INGN) maintains a strong balance sheet with $106.8 million in cash and no debt, while also repurchasing over 1.1 million shares in the first half of 2026.

Negative

Inogen Inc (INGN) lowered its full-year 2026 revenue guidance to $355-$361 million, down from the previous range of $366-$373 million.
US sales declined 2% year-over-year due to channel mix challenges, with the DTC sales channel continuing to face pressure.
US rental revenue decreased 12% year-over-year, reflecting a structural shift in the market toward HMEs prescribing POCs from day one.
The company expects continued headwinds in the second half from international distributor inventory management and ongoing US direct business pressure.
Third-quarter revenue is expected to be flat year-over-year, impacted by US channel mix shifts and international distributor purchase timing.
The company is still operating at a net loss, with a GAAP net loss of $3.9 million in the second quarter.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

INGN.OQ - Inogen, Inc.
Q2 2026 Inogen, Inc. Earnings Call
Aug 06, 2026 / 09:00PM GMT

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Presentation
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Welcome to Igen's second quarter 2026 earnings conference call.

At this time, all participants are in a listen-only mode.

Following management's prepared remarks, we will hold a question-and-answer session.

Ask a question at that time, please press star, followed by 1 on your touchtone phone.

If anyone has difficulty hearing the conference, please press star and 0 for operator assistance.

As a reminder, this conference is being recorded today, August 6th, 2026.

I'd now like to turn the call over to Lorna Williams, SVP of Investor Relations and Strategic Planning.

Thank you all for participating in today's call.

Joining me are President and CEO Kevin Smith and

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