Inogen Recognized as one of the Fastest Growing Companies in North America according to Deloitte’s 2017 Technology Fast 500™
Achieved 169% Revenue Growth between 2013 and 2016
GOLETA, Calif.--(BUSINESS WIRE)-- Inogen, Inc. (NASDAQ: INGN), a medical technology company offering innovative respiratory products for use in the homecare setting, today announced it was included on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. This is the fourth consecutive year that Inogen has been named to the list. Inogen grew annual revenues from $75.4M to $202.8M, or 169%, between 2013 and 2016.
Inogen’s President and CEO, Scott Wilkinson, attributes the revenue growth to increased demand for the company’s innovative products and its continued leadership in portable oxygen therapy solutions. “It is truly an honor to be named to Deloitte’s Technology Fast 500™ for the fourth straight time. This is evidence of the growth in awareness of our portable oxygen therapy solutions and an increase in the adoption of portable concentrators in the oxygen market. The increase in revenues in our consumer and business sales channels is a direct result of these factors. The knowledge that there are millions of patients worldwide whose lives can be improved through use of our products gives us bright hope for the continued success of Inogen,” said Wilkinson.
About Deloitte’s 2017 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2013 to 2016.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
As used in this document, “Deloitte” refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
Inogen has used, and intends to continue to use, its Investor Relations website, http://investor.inogen.com/, as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. For more information, visit http://investor.inogen.com/.
Use of Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning awareness of Inogen’s products and the effect of such awareness on future financial performance or trends and growth opportunities affecting Inogen. Forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from currently anticipated results, including, but not limited to, risks that Inogen will not realize anticipated revenue and that future results could be materially different from any future results expressed or implied by these forward-looking statements. In addition, Inogen's business is subject to numerous additional risks and uncertainties, including, among others, risks relating to market acceptance of its products; competition; its sales, marketing and distribution capabilities; its planned sales, marketing, and research and development activities; interruptions or delays in the supply of components or materials for, or manufacturing of, its products; seasonal variations; unanticipated increases in costs or expenses; and risks associated with international operations. Information on these and additional risks, uncertainties, and other information affecting Inogen's business and operating results are contained in Inogen's Annual Report on Form 10-K for the year ended December 31, 2016 and in Inogen's subsequent reports on Form 10-Q and Form 8-K, including Inogen’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2017. These forward-looking statements speak only as of the date hereof. Inogen disclaims any obligation to update these forward-looking statements except as may be required by law.
Inogen is innovation in oxygen therapy. We are a medical technology company that develops, manufactures and markets innovative oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. For more information, please visit www.inogen.com.
Investor Relations Contact:
Matt Bacso, CFA
Byron Myers, 805-562-0503
Released November 9, 2017