Mr. Jamali is a long-time medical device executive who will bring added depth and expertise to the Board. During his tenure as the Chief Executive Officer of ZimVie, he led the company’s Nasdaq listing following the spin-out from Zimmer Biomet and helped each of the businesses (Spine and Dental) through significant portfolio optimization actions to support a turnaround to higher growth and profitability. Prior to ZimVie, most notably, he spent nearly twelve years at Covidien and Medtronic, where he most recently served as Senior Vice President and President of the Respiratory, Gastrointestinal & Informatics division, a $3 billion business that included 10,000 team members across four businesses and 14 manufacturing sites. While leading that division, he played a key role in accelerating growth and expanding margins.

“We are pleased to welcome Vafa to the Board and look forward to benefiting from his unique perspectives,” said Beth Mora, Chairperson of the Board. “Throughout his many years of leading medical device companies, Vafa has established a track record of driving strategic execution and delivering sustained growth. As we continue advancing our transformation from a single product oxygen company into a diversified respiratory care platform, we believe Vafa’s insight and direction will help guide our management team to execute on its path forward and continue to deliver strong top-line growth and improve profitability.”

“Inogen is well positioned to drive meaningful growth, supported by its strong foundation in portable oxygen and an expanded, diversified product portfolio, as healthcare systems continue to shift care into the home,” said Mr. Jamali. “The Company’s clear strategic direction and improved financial profile provide a solid foundation for the opportunities ahead, and I look forward to working closely with the Board and management to help guide Inogen’s continued progress.”

“We invested in Inogen because we believe the Company’s innovative respiratory product portfolio is uniquely positioned to address growing and unmet patient needs. As Inogen executes on profitable growth, more patient lives are enhanced and the broader healthcare system benefits,” said Benjamin Natter, Managing Member of Kent Lake. “Our recent discussions with the Company have reinforced our confidence in the direction Inogen is taking, and we believe Vafa will be a constructive addition to the Board as management continues to execute on its established strategic priorities of driving organic revenue growth, advancing profitability and cash generation, continued product innovation, and disciplined capital allocation.”

In connection with Mr. Jamali’s appointment, the Company has entered into a cooperation agreement with Kent Lake Partners LP, Kent Lake PR LLC and Benjamin Natter (collectively, “Kent Lake”). The agreement includes customary standstill, voting, and other provisions. The agreement will be filed by the Company with the U.S. Securities and Exchange Commission as an exhibit to a Current Report on Form 8-K.

Evercore is serving as financial advisor to the Company, Covington & Burling LLP is serving as legal counsel and Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor.

About Inogen

Inogen, Inc. (Nasdaq: INGN) is a leading global medical technology company offering innovative respiratory products for use in the homecare setting. Inogen supports patient respiratory care by developing, manufacturing, and marketing innovative best-in-class respiratory therapy devices used to deliver care to patients suffering from chronic respiratory conditions. Inogen partners with patients, prescribers, home medical equipment providers, and distributors to make its respiratory therapy products widely available, allowing patients the chance to manage the impact of their disease.

For more information, please visit www.inogen.com.

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.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this communication that are not historical facts, including, but not limited to, statements regarding Inogen’s future business plans, market opportunities, financial outlook, growth strategies, and anticipated operational results, are forward-looking statements. Words such as “aims,” “believes,” “anticipates,” “plans,” “expects,” “will,” “intends,” “potential,” “possible,” and similar expressions are intended to identify forward-looking statements. 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 and uncertainties relating to Inogen’s 2026 annual meeting of stockholders; its 2026 first quarter and full year financial guidance; market acceptance of its products; competition; its sales, marketing and distribution capabilities; its planned sales, marketing, and research and development activities; and risks associated with international operations. Information on these and additional risks, uncertainties, and other information affecting Inogen’s business operating results are contained in its Annual Report on Form 10-K for the period ended December 31, 2025, and in its other filings with the Securities and Exchange Commission. 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.

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ir@inogen.net

Source: Inogen, Inc.

A live audio webcast and archived recording of the presentation will be available to all interested parties through the News / Events page on the Inogen Investor Relations website.

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.

About Inogen

Inogen, Inc. (Nasdaq: INGN) is a leading global medical technology company offering innovative respiratory products for use in the homecare setting. Inogen supports patient respiratory care by developing, manufacturing, and marketing innovative best-in-class respiratory therapy devices used to deliver care to patients suffering from chronic respiratory conditions. Inogen partners with patients, prescribers, home medical equipment providers, and distributors to make its respiratory therapy products widely available, allowing patients the chance to manage the impact of their disease.

For more information, please visit www.inogen.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this communication that are not historical facts, including, but not limited to, statements regarding Inogen’s future business plans, market opportunities, financial outlook, growth strategies, and anticipated operational results, are forward-looking statements. Words such as “aims,” “believes,” “anticipates,” “plans,” “expects,” “will,” “intends,” “potential,” “possible,” and similar expressions are intended to identify forward-looking statements. 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 and uncertainties relating to Inogen’s 2026 first quarter and full year financial guidance; market acceptance of its products; competition; its sales, marketing and distribution capabilities; its planned sales, marketing, and research and development activities; and risks associated with international operations. Information on these and additional risks, uncertainties, and other information affecting Inogen’s business operating results are contained in its Annual Report on Form 10-K for the period ended December 31, 2025, and in its other filings with the Securities and Exchange Commission. 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.

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ir@inogen.net

Source: Inogen, Inc.

In connection with entering into employment with Inogen, Mr. Richardson, who was not previously an employee or director of Inogen, will receive equity awards of restricted stock units covering an aggregate of 200,000 shares of Inogen’s common stock, comprised of (i) 100,000 time-based restricted stock units (“RSUs”) and (ii) 100,000 performance-based restricted stock units (“PSUs”); provided that overachievement of the performance goals may result in Mr. Richardson receiving up to a maximum of 150,000 PSUs. Subject to Mr. Richardson’s continued service with Inogen, one-third of the RSUs will vest annually over three years. Subject to Mr. Richardson’s continued service with Inogen, the PSUs will vest based on Inogen’s achievement of specified performance goals.

In connection with entering into employment with Inogen, Mr. Hulton, who was not previously an employee or director of Inogen, will receive an equity award of $200,000 time-based RSUs. The number of shares of common stock underlying Mr. Hulton’s grant of RSUs will be determined based on the closing price of Inogen’s common stock on the date his employment commences, which is expected to be April 1, 2026. Subject to Mr. Hulton’s continued service with Inogen, one-third of the RSUs will vest annually over three years.

Each of these awards were granted pursuant to stand-alone inducement award agreements outside of the Company’s Amended and Restated 2023 Equity Incentive Plan but are generally subject to the same terms and conditions that apply to awards granted under the Company’s Amended and Restated 2023 Equity Incentive Plan.

About Inogen

Inogen, Inc. (Nasdaq: INGN) is a leading global medical technology company offering innovative respiratory products for use in the homecare setting. Inogen supports patient respiratory care by developing, manufacturing, and marketing innovative best-in-class respiratory therapy devices used to deliver care to patients suffering from chronic respiratory conditions. Inogen partners with patients, prescribers, home medical equipment providers, and distributors to make its respiratory therapy products widely available, allowing patients the chance to manage the impact of their disease.

For more information, please visit www.inogen.com.

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.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this communication that are not historical facts, including, but not limited to, statements regarding Inogen’s future business plans, market opportunities, financial outlook, growth strategies, and anticipated operational results, are forward-looking statements. Words such as “aims,” “believes,” “anticipates,” “plans,” “expects,” “will,” “intends,” “potential,” “possible,” and similar expressions are intended to identify forward-looking statements. 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 and uncertainties relating to Inogen’s 2026 first quarter and full year financial guidance; market acceptance of its products; competition; its sales, marketing and distribution capabilities; its planned sales, marketing, and research and development activities; and risks associated with international operations. Information on these and additional risks, uncertainties, and other information affecting Inogen’s business operating results are contained in its Annual Report on Form 10-K for the period ended December 31, 2025, and in its other filings with the Securities and Exchange Commission. 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.

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ir@inogen.net

Source: Inogen, Inc.

Dominic Hulton Named Chief Marketing Officer

Corey Moritz Appointed Vice President, U.S. Business to Business Sales

BEVERLY, Mass.--(BUSINESS WIRE)-- Inogen, Inc. (Nasdaq: INGN), a medical technology company offering innovative respiratory products for use in the homecare setting, today announced the following leadership appointments designed to accelerate the company’s next phase of growth.

Jason Richardson Appointed Chief Financial Officer

Jason Richardson has been appointed Chief Financial Officer, effective April 6, 2026. Mr. Richardson succeeds Michael Bourque, who will step down from his role as Chief Financial Officer on that date. Mr. Bourque will serve in an advisory capacity until June 30, 2026, to ensure a smooth transition.

Mr. Richardson joins Inogen from Baxter International Inc., where he most recently served as Chief Financial Officer and Vice President of the Healthcare Systems & Technologies segment, a $3 billion publicly reported business. In this role, he was a central figure in Baxter’s integration of Hillrom, driving growth initiatives and improved operating performance. Prior to Baxter’s acquisition of Hillrom, Mr. Richardson held a variety of senior finance leadership roles at Hillrom, including overseeing its Respiratory Care franchise, a durable medical equipment (DME) business focused on cystic fibrosis, bronchiectasis, and other respiratory diseases.

“We are pleased to welcome Jason as Inogen’s next Chief Financial Officer,” said Kevin Smith, President and Chief Executive Officer of Inogen. “Jason’s deep expertise in finance and operations across the medical device and healthcare industries will be instrumental as we focus on delivering superior respiratory solutions to patients around the world and driving sustainable growth. On behalf of the Inogen team, I thank Mike for his many contributions to Inogen over the past two years. He played a key role in returning the Company to positive adjusted EBITDA for the first time in four years and strengthening our foundation as we seek to capture significant market opportunities ahead. We are grateful for his service and expect to benefit from his support during the transition period.”

“It has been a privilege to be a part of the Inogen team, and I am proud of all we have accomplished together,” said Mr. Bourque. “I am confident the finance organization is well positioned for continued success, and I am committed to support the transition to Jason.”

“I am honored to join Inogen and look forward to working closely with the Board and management team to execute our strategy and deliver sustainable long-term value,” said Mr. Richardson. “I am grateful that Mike is available to support a seamless transition.”

Dominic Hulton Appointed Chief Marketing Officer

Dominic Hulton has been appointed Chief Marketing Officer, effective April 1, 2026. Mr. Hulton is a globally experienced commercial leader with over 20 years of experience driving growth, expanding markets, and leading organizational transformation in medical technology. Mr. Hulton spent the last 11 years at Insulet Corporation, where he served as Vice President of International Marketing and Sales Excellence. In that role, he led global product launches, built cross-functional teams and scaled commercial operations.

Mr. Smith continued, “Dominic’s experience is highly aligned with Inogen’s focus on strengthening our global brand, deepening customer engagement and enhancing commercial execution. We are thrilled to have him join our leadership team in the newly established Chief Marketing Officer role. As we continue to advance our innovation pipeline, including our goal of launching at least one new product per year, we expect Dominic’s strong track record of bringing products to market across geographies to help accelerate our growth and brand reach.”

“I look forward to joining the Inogen team and leading its marketing function at a pivotal moment for the Company,” said Mr. Hulton. “There is significant opportunity to expand Inogen’s global brand awareness and customer engagement, and I’m excited to play a role in shaping the Company’s next phase of growth.”

Corey Moritz Appointed Vice President, U.S. Business to Business Sales

Corey Moritz joined Inogen as Vice President, U.S. Business to Business Sales on March 9, 2026. Mr. Moritz is a healthcare executive with more than two decades of experience driving commercial transformation, revenue growth and scalable expansion across medical devices, respiratory care and health services organizations. He has successfully built six sales forces while delivering sustained growth, margin expansion and strong commercial infrastructure. He previously served as Chief Commercial Officer of Rhythm Healthcare, where he had a strong track record of driving significant revenue growth across multiple years.

Mr. Smith concluded, “Corey is a strong addition to the Inogen team. He brings deep relationships across the U.S. HME and distributor sales channel and a proven track record of building and scaling high-performing sales teams. His experience around improving commercial execution and sustained growth will support Inogen’s efforts to expand our presence across our growing product portfolio.”

“Since joining Inogen a month ago, I have been getting fully up to speed with the Company’s commercial initiatives and believe we are well positioned to expand our reach across the U.S. business to business sales channel, build on our strong relationships and optimize our execution,” said Mr. Moritz.

Reaffirms First Quarter and Full Year 2026 Financial Outlook

The Company reaffirmed its first quarter and full year 2026 financial outlook that was provided in its fourth quarter and full year 2025 earnings release issued on February 24, 2026.

About Inogen

Inogen, Inc. (Nasdaq: INGN) is a leading global medical technology company offering innovative respiratory products for use in the homecare setting. Inogen supports patient respiratory care by developing, manufacturing, and marketing innovative best-in-class respiratory therapy devices used to deliver care to patients suffering from chronic respiratory conditions. Inogen partners with patients, prescribers, home medical equipment providers, and distributors to make its respiratory therapy products widely available, allowing patients the chance to manage the impact of their disease.

For more information, please visit www.inogen.com.

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.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this communication that are not historical facts, including, but not limited to, statements regarding Inogen’s future business plans, market opportunities, financial outlook, growth strategies, and anticipated operational results, are forward-looking statements. Words such as “aims,” “believes,” “anticipates,” “plans,” “expects,” “will,” “intends,” “potential,” “possible,” and similar expressions are intended to identify forward-looking statements. 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 and uncertainties relating to Inogen’s 2026 first quarter and full year financial guidance; market acceptance of its products; competition; its sales, marketing and distribution capabilities; its planned sales, marketing, and research and development activities; and risks associated with international operations. Information on these and additional risks, uncertainties, and other information affecting Inogen’s business operating results are contained in its Annual Report on Form 10-K for the period ended December 31, 2025, and in its other filings with the Securities and Exchange Commission. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260330247475/en/

ir@inogen.net

Source: Inogen, Inc.

A live audio webcast and archived recording of the presentation will be available to all interested parties through the News / Events page on the Inogen Investor Relations website.

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.

About Inogen

Inogen, Inc. (Nasdaq: INGN) is a leading global medical technology company offering innovative respiratory products for use in the homecare setting. Inogen supports patient respiratory care by developing, manufacturing, and marketing innovative best-in-class respiratory therapy devices used to deliver care to patients suffering from chronic respiratory conditions. Inogen partners with patients, prescribers, home medical equipment providers, and distributors to make its respiratory therapy products widely available, allowing patients the chance to manage the impact of their disease.

For more information, please visit www.inogen.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this communication that are not historical facts, including, but not limited to, statements regarding Inogen’s future business plans, market opportunities, financial outlook, growth strategies, and anticipated operational results, are forward-looking statements. Words such as “aims,” “believes,” “anticipates,” “plans,” “expects,” “will,” “intends,” “potential,” “possible,” and similar expressions are intended to identify forward-looking statements. 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 and uncertainties relating to Inogen’s 2026 first quarter and full year financial guidance; market acceptance of its products; competition; its sales, marketing and distribution capabilities; its planned sales, marketing, and research and development activities; and risks associated with international operations. Information on these and additional risks, uncertainties, and other information affecting Inogen’s business operating results are contained in its Annual Report on Form 10-K for the period ended December 31, 2025, and in its other filings with the Securities and Exchange Commission. 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.

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ir@inogen.net

Source: Inogen, Inc.

Significantly improved profitability with 2025 net loss of $22.7 million and positive adjusted EBITDA of $2.7 million

Well-positioned to accelerate expected 2026 revenue growth and profitability

BEVERLY, Mass.--(BUSINESS WIRE)-- Inogen, Inc. (Nasdaq: INGN), a medical technology company offering innovative respiratory products for use in the homecare setting, today announced financial results for the fourth quarter and the full year ended December 31, 2025 and provided 2026 guidance for the first quarter and full year.

“In 2025, we made significant progress toward our long-term profitability goals while strengthening our product portfolio and improving the fundamentals of our business. Our disciplined operational efficiency contributed to a substantial year-over-year improvement in adjusted EBITDA, culminating in a positive result for the first time since 2021,” said Kevin Smith, President and Chief Executive Officer. “Our strong balance sheet with no debt, puts us in a strong position to accelerate innovation, enhance customer engagement, and drive portfolio expansion in 2026 and beyond. We believe these strategic achievements create a solid foundation for future growth and value creation for our shareholders.”

Highlights

• Introduced two new products in the United States to diversify the portfolio with the Voxi 5, a stationary oxygen concentrator, and Aurora masks for continuous positive airway pressure (CPAP), designed for obstructive sleep apnea (OSA);
• Initiated a limited market release of the Simeox airway clearance device in the United States to support reimbursement and advance commercialization efforts;
• Launched Inogen patient portal to enhance digital health and to empower patients with seamless self-service to manage insurance requirements, streamline accessories ordering and access to support tools;
• Announced strategic collaboration with Yuwell Medical to broaden Inogen’s product portfolio, strengthen its innovation pipeline through joint research and development, and accelerate the brand’s entry into China;
• Authorized a $30.0 million share repurchase program to return value to shareholders based on the strength of our balance sheet, with year-end cash, cash equivalents, marketable securities, and restricted cash, of $120.9 million, with no debt outstanding.

Fourth Quarter 2025 Financial Results

In the fourth quarter of 2025, the Company made changes to its product revenue categories to provide investors with more meaningful trends in its business and strategic direction. The Company will now report product revenues in the following categories: U.S. sales, international sales, and U.S. rentals.

Total revenue in the fourth quarter of 2025 was $81.7 million, an increase of 2.0% from the prior-year period, primarily driven by higher growth in international portable oxygen concentrator, or POC, sales of 14.8%, partially offset by lower U.S. sales and U.S. rentals.

Total gross margin was 43.1% in the fourth quarter of 2025, a decrease from 45.3% in the prior-year period, primarily the result of channel mix.

Total operating loss was $9.3 million, an improvement of 18.3% from a loss of $11.4 million in the prior-year period, primarily due to material cost reductions, operational efficiencies, and an increase in international sales.

GAAP net loss for the fourth quarter of 2025 was $7.1 million, an improvement of 27.0% compared to $9.8 million in the prior-year period. Adjusted net loss for the fourth quarter of 2025 was $4.0 million, an improvement of 30.4% from adjusted net loss of $5.8 million in the prior-year period.

Adjusted EBITDA was negative $1.7 million in the fourth quarter of 2025, an improvement of 52.8% compared to negative $3.6 million in the prior-year period.

Cash, cash equivalents, marketable securities, and restricted cash were $120.9 million as of December 31, 2025, with no debt outstanding.

Full Year 2025 Financial Results

Total revenue in the full year 2025 increased 3.9% to $348.7 million from $335.7 million in the prior year, primarily driven by higher growth in international POC sales of 18.4%, partially offset by lower U.S. sales and U.S. rentals.

Total gross margin of 44.2% in the full year 2025 decreased from 46.1% in the comparable period in 2024, primarily the result of changing channel mix from higher POC sales to business customers.

Total operating loss was $30.2 million in the full year 2025, an improvement of 29.0% from a loss of $42.5 million in the full year of 2024, primarily due to material cost reductions, operational efficiencies, and an increase in international sales.

GAAP net loss for the full year 2025 was $22.7 million, an improvement of 36.6% compared to GAAP net loss of $35.9 million for the full year 2024. Adjusted net loss for the full year 2025 was $8.0 million, an improvement of 60.6% from adjusted net loss of $20.4 million in the full year 2024.

Adjusted EBITDA was positive $2.7 million for the full year 2025, an improvement of 128.4% compared to negative $9.5 million for the full year 2024.

Reconciliations of adjusted EBITDA and adjusted net loss for the three and twelve months ended December 31, 2025 and 2024 are in the financial schedules that are a part of this press release. An explanation of these non-GAAP financial measures is also included below under the heading “Reconciliation of U.S. GAAP to Non-GAAP Financial Measures.”

First Quarter and Full Year 2026 Financial Outlook

Inogen expects first quarter 2026 reported revenue to be in line with first quarter 2025, due to channel mix and lower expected U.S. rentals revenue driven by reimbursement mix and reduced patients on service.

For the full year 2026, Inogen expects reported revenue in the range of $366 million to $373 million, reflecting approximately 6% growth at the midpoint of the range relative to the Company’s 2025 revenue.

The Company remains committed to driving positive Adjusted EBITDA improvement in 2026.

Quarterly Conference Call Information

On February 24, 2026, the Company will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time.

Individuals interested in listening to the conference call may do so by dialing:

US domestic callers (877) 841-3961
Non-US callers (201) 689-8589

Please reference Inogen to join the call. A live audio webcast and archived recording of the conference call will be available to all interested parties through the News / Events page on the Inogen Investor Relations website. This webcast will also be archived on the website for 6 months.

A replay of the call will be available approximately three hours after the live webcast ends and will be accessible through March 3, 2026. To access the replay, dial (877) 660-6853 or (201) 612-7415 and reference Conference ID: 13757405.

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.

About Inogen

Inogen, Inc. (Nasdaq: INGN) is a leading global medical technology company offering innovative respiratory products for use in the homecare setting. Inogen supports patient respiratory care by developing, manufacturing, and marketing innovative best-in-class respiratory therapy devices used to deliver care to patients suffering from chronic respiratory conditions. Inogen partners with patients, prescribers, home medical equipment providers, and distributors to make its respiratory therapy products widely available, allowing patients the chance to manage the impact of their disease.

For more information, please visit www.inogen.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this communication that are not historical facts, including, but not limited to, statements regarding Inogen’s future business plans, market opportunities, financial outlook, growth strategies, and anticipated operational results, are forward-looking statements. Words such as “aims,” “believes,” “anticipates,” “plans,” “expects,” “will,” “intends,” “potential,” “possible,” and similar expressions are intended to identify forward-looking statements. 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 and uncertainties relating to Inogen’s 2026 first quarter and full year financial guidance; market acceptance of its products; competition; its sales, marketing and distribution capabilities; its planned sales, marketing, and research and development activities; and risks associated with international operations. Information on these and additional risks, uncertainties, and other information affecting Inogen’s business operating results are contained in its Annual Report on Form 10-K for the period ended December 31, 2024, and in its other filings with the Securities and Exchange Commission. 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.

Non-GAAP Financial Measures

Inogen has presented certain financial information in accordance with U.S. GAAP and also on a non-GAAP basis for the three and twelve months ended December 31, 2025, and December 31, 2024. Management believes that these non-GAAP financial measures, taken in conjunction with U.S. GAAP financial measures, provide useful information for both management and investors by excluding certain non-cash and other expenses that are not indicative of Inogen’s core operating results. Management uses these non-GAAP measures to compare Inogen’s performance relative to forecasts and strategic plans, to benchmark Inogen’s performance externally against competitors, and for certain compensation decisions. Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used to supplement an understanding of Inogen's operating results as reported under U.S. GAAP. Inogen encourages investors to carefully consider its results under U.S. GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between U.S. GAAP and non-GAAP results are presented in the accompanying tables of this release.

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ir@inogen.net

Source: Inogen, Inc.

“This authorization reflects our confidence in Inogen’s strategy, progress towards profitability goals, and long-term growth trajectory,” said Kevin Smith, President and Chief Executive Officer. “With a strong, debt-free balance sheet, we view this program as providing additional flexibility to deploy capital to support continued investment in innovation and portfolio expansion while enhancing shareholder value.”

The repurchase program will be financed through cash flow and existing cash reserves and is not expected to affect Inogen’s capacity to pursue further growth initiatives. Authorization for the program will expire upon either December 31, 2027, or once the maximum authorized dollar amount has been utilized, whichever occurs first. The Company is under no obligation to purchase a specific number of shares, and the program may be suspended or terminated at any time.

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.

About Inogen

Inogen, Inc. (Nasdaq: INGN) is a leading global medical technology company offering innovative respiratory products for use in the homecare setting. Inogen supports patient respiratory care by developing, manufacturing, and marketing innovative best-in-class respiratory therapy devices used to deliver care to patients suffering from chronic respiratory conditions. Inogen partners with patients, prescribers, home medical equipment providers, and distributors to make its respiratory therapy products widely available, allowing patients the chance to manage the impact of their disease.

For more information, please visit www.inogen.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this communication that are not historical facts, including, but not limited to, statements regarding Inogen’s future business plans, market opportunities, financial outlook, growth strategies, and anticipated operational results, are forward-looking statements. Words such as “aims,” “believes,” “anticipates,” “plans,” “expects,” “will,” “intends,” “potential,” “possible,” and similar expressions are intended to identify forward-looking statements. 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 and uncertainties relating to Inogen’s share repurchase program; market acceptance of its products; competition; its sales, marketing and distribution capabilities; its planned sales, marketing, and research and development activities; and risks associated with international operations. Information on these and additional risks, uncertainties, and other information affecting Inogen’s business operating results are contained in its Annual Report on Form 10-K for the period ended December 31, 2024, and in its other filings with the Securities and Exchange Commission. 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.

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ir@inogen.net

Source: Inogen, Inc.

GOLETA, Calif.--(BUSINESS WIRE)-- Inogen, Inc. (Nasdaq: INGN), a medical technology company offering innovative respiratory products for use in the homecare setting, today announced preliminary, unaudited revenue results for the quarter and year ended December 31, 2025.

The Company estimates preliminary, unaudited total revenue in the fourth quarter of 2025 to be approximately $82 million, representing year-over-year growth of approximately 2%. Full year 2025 total preliminary, unaudited revenue is expected to be approximately $349 million, representing year-over-year growth of approximately 4%.

For the full year 2025, the Company expects to achieve positive Adjusted EBITDA, reflecting its continued commitment to financial discipline and effective cost management.

“While fourth quarter results continued to reflect strong performance in our business-to-business channels, we experienced a shift in the timing of a few large customer orders into the first half of 2026. Although this delay relative to expectations is disappointing, our full year results continued to make meaningful progress in executing our business turnaround,” said Kevin Smith, President and Chief Executive Officer. “Highlights for the full year include positive revenue growth, advancing toward profitability, and expanding the innovation pipeline with launches of the Voxi 5 stationary oxygen concentrator and Aurora Masks for Obstructive Sleep Apnea patients in the U.S. The Inogen team remains confident in our ability to drive growth acceleration and profitability into 2026, and we look forward to sharing additional details and 2026 financial guidance during our February earnings call.”

Quarterly Conference Call Information

On February 24, 2026, the Company will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time.

Individuals interested in listening to the conference call may do so by dialing:

US domestic callers (877) 841-3961
Non-US callers (201) 689-8589

Please reference Inogen to join the call. A live audio webcast and archived recording of the conference call will be available to all interested parties through the News / Events page on the Inogen Investor Relations website. This webcast will also be archived on the website for 6 months.

A replay of the call will be available approximately three hours after the live webcast ends and will be accessible through March 3, 2026. To access the replay, dial (877) 660-6853 or (201) 612-7415 and reference Conference ID: 13757405.

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.

About Inogen

Inogen, Inc. (Nasdaq: INGN) is a leading global medical technology company offering innovative respiratory products for use in the homecare setting. Inogen supports patient respiratory care by developing, manufacturing, and marketing innovative best-in-class respiratory therapy devices used to deliver care to patients suffering from chronic respiratory conditions. Inogen partners with patients, prescribers, home medical equipment providers, and distributors to make its respiratory therapy products widely available, allowing patients the chance to manage the impact of their disease.

For more information, please visit www.inogen.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this communication that are not historical facts, including, but not limited to, statements regarding Inogen’s future business plans, market opportunities, financial outlook, growth strategies, and anticipated operational results, are forward-looking statements. Words such as “aims,” “believes,” “anticipates,” “plans,” “expectation,” “will,” “intends,” “potential,” “possible,” and similar expressions are intended to identify forward-looking statements. 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 and uncertainties relating to Inogen’s financial guidance; market acceptance of its products; competition; its sales, marketing and distribution capabilities; its planned sales, marketing, and research and development activities; and risks associated with international operations. Information on these and additional risks, uncertainties, and other information affecting Inogen’s business operating results are contained in its Annual Report on Form 10-K for the period ended December 31, 2024, and in its other filings with the Securities and Exchange Commission. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260112813958/en/

ir@inogen.net

Source: Inogen, Inc.

GOLETA, Calif.--(BUSINESS WIRE)-- Inogen, Inc. (Nasdaq: INGN), a leading medical technology company specializing in innovative respiratory products for homecare use, today announced the launch of Aurora CPAP masks, a new product within the expanding Inogen portfolio. Aurora’s introduction marks a significant milestone in Inogen’s strategy to expand its respiratory care portfolio and now bring quality, high-performing masks to patients indicated for obstructive sleep apnea (OSA).

Strategic Positioning and Market Opportunity

Engineered for superior comfort, reliability, and usability, Aurora Masks establishes Inogen’s presence in the growing sleep-therapy market and expands Inogen’s addressable market opportunity. The company intends to leverage its existing distribution channels and partnerships to bring Aurora CPAP masks to customers and strengthen relationships with providers.

“The launch of Aurora CPAP masks represents a pivotal step in Inogen’s evolution towards expanding into a broad home care respiratory solutions company and our entry into the sleep apnea market,” said Kevin Smith, President and Chief Executive Officer. “With Aurora Masks, we are bringing the same patient-centric innovation that defines our respiratory solutions to a new category, delivering comfort, performance, and reliability. We see Aurora Masks as a growth catalyst that reinforces our commitment to leading in patient outcomes in home respiratory care.”

Aurora Masks launch is supported by a patient-use study, in which the majority of patients reported being highly satisfied with the Aurora masks¹.

The Aurora Mask portfolio—which includes the F1 Full Face, N1 Nasal Cushion, and P1 Nasal Pillows—is specifically designed to meet the diverse needs of most patients using CPAP devices. Aurora Masks provide options for different facial structures and therapy needs, promoting patient-focused care and encouraging consistent use in sleep and respiratory therapy.

Key Features

• High-Quality Headgear: features a triple-material design with ultrasonic edge sealing technology, promoting comfort and durability.
• Comfortable Cushion Design: Medical-grade rebound silicone cushion is soft, airtight, and hypoallergenic – designed to reduce facial pressure and improve patient fit and comfort.
• Quiet Honeycomb Vent Design: Promotes a peaceful sleep environment for users and partners.
• Simple Maintenance: Easy to assemble, disassemble, and clean for everyday convenience.
• Universal Compatibility: Works seamlessly with most CPAP devices.
• FDA 510(k) Cleared: Meets rigorous safety and performance standards.

Aurora CPAP masks are now offered through certified partners. For further details, please visit Inogen.com/Products.

¹AMG CPAP Mask Trial Study, August 2025: 30-day study involving 140 patients undergoing CPAP therapy for at least six months, with usage of at least five nights per week and a minimum of four hours per night.

About Inogen

Inogen, Inc. (Nasdaq: INGN) is a leading global medical technology company offering innovative respiratory products for use in the homecare setting. Inogen supports patient respiratory care by developing, manufacturing, and marketing innovative best-in-class respiratory therapy devices used to deliver care to patients suffering from chronic respiratory conditions. Inogen partners with patients, prescribers, home medical equipment providers, and distributors to make its respiratory therapy products widely available, allowing patients the chance to manage the impact of their disease.

For more information, please visit www.inogen.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this communication that are not historical facts, including, but not limited to, statements regarding Inogen’s future business plans, market opportunities, financial outlook, growth strategies, and anticipated operational results, are forward-looking statements. Words such as “aims,” “believes,” “anticipates,” “plans,” “expects,” “will,” “intends,” “potential,” “possible,” and similar expressions are intended to identify forward-looking statements. 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 and uncertainties relating to the potential benefits of Inogen’s collaboration with Yuwell; market acceptance of its products; competition; its sales, marketing and distribution capabilities; its planned sales, marketing, and research and development activities; and risks associated with international operations. Information on these and additional risks, uncertainties, and other information affecting Inogen’s business operating results are contained in its Annual Report on Form 10-K for the period ended December 31, 2024, and in its other filings with the Securities and Exchange Commission. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260107107874/en/

ir@inogen.net

Source: Inogen, Inc.

Reiterating full-year revenue guidance

GOLETA, Calif.--(BUSINESS WIRE)-- Inogen, Inc. (Nasdaq: INGN), a medical technology company offering innovative respiratory products for use in the homecare setting, today announced financial results for the quarter ended September 30, 2025.

Recent Highlights

• $92.4 million revenue, a year-over-year increase of 4.0%, marking the seventh consecutive quarter of mid-single-digit percentage growth
• GAAP net loss of $5.3 million and adjusted net loss of $0.5 million compared to prior year GAAP net loss of $6.0 million and adjusted net loss of $2.6 million
• $2.3 million adjusted EBITDA, the third consecutive quarter of positive adjusted EBITDA
• $2.2 million in positive operating cash flow, strengthening quarter-end cash, cash equivalents, marketable securities and restricted cash to $124.5 million
• Reiterates full year revenue outlook of $354 million to $357 million and raises adjusted EBITDA guidance to approximately $2 million
• Initiated a limited market release of the Simeox airway clearance device in the United States

"We continue to make meaningful progress, driving consistent mid-single-digit revenue growth, operational improvements, and strong adjusted EBITDA," said Kevin Smith, President and Chief Executive Officer. "This quarter’s results reflect the strength of our commercial strategies, financial discipline, and commitment to delivering innovative solutions. Looking forward, we remain focused on building long-term value for our shareholders by advancing Inogen’s leadership in respiratory care."

Third Quarter 2025 Financial Results

Total revenue in the third quarter of 2025 was $92.4 million, an increase of 4.0% from the prior-year period, as a result of continued higher demand from international and domestic business-to-business customers. This increase was partially offset by lower direct-to-consumer and rental revenue.

Total gross margin in the third quarter of 2025 was 44.7% compared to 46.5% in the prior-year period, primarily the result of increased business-to-business sales as a percentage of total revenue.

Total operating expense in the third quarter of 2025 was $48.4 million, a decrease of 1.4% from $49.1 million in the prior-year period, reflecting ongoing cost management efforts.

GAAP net loss for the third quarter of 2025 was $5.3 million including one-time legal and settlement expenses of $1.8 million, compared to $6.0 million in the prior-year period. Adjusted net loss in the third quarter of 2025 was $0.5 million, compared to adjusted net loss of $2.6 million in the prior-year period.

Adjusted EBITDA in the third quarter of 2025 was $2.3 million compared to $0.5 million in the prior-year period.

Cash, cash equivalents, marketable securities, and restricted cash were $124.5 million as of September 30, 2025, with no debt outstanding.

Reconciliations of adjusted EBITDA and adjusted net loss for the three and nine months ended September 30, 2025 and 2024 are provided in the financial schedules that are a part of this press release. An explanation of these non-GAAP financial measures is also included below under the heading “Reconciliation of U.S. GAAP to Non-GAAP Financial Measures.”

Full Year and Fourth Quarter 2025 Financial Outlook

For the full year 2025, Inogen is reiterating its reported revenue outlook in the range of $354 million to $357 million, reflecting approximately 6% growth at the midpoint, when compared to the Company’s 2024 revenue, and is raising Adjusted EBITDA expectations to be approximately $2 million.

For the fourth quarter of 2025, Inogen expects reported revenue in the range of $87 million to $90 million, reflecting approximately 10% year-over-year growth at the midpoint of the range, compared to the Company’s fourth quarter 2024 revenue.

Quarterly Conference Call Information

On November 5, 2025, the Company will host a conference call at 5:30 a.m. Pacific Time / 8:30 a.m. Eastern Time.

Individuals interested in listening to the conference call may do so by dialing:

US domestic callers (877) 841-3961
Non-US callers (201) 689-8589

Please reference Inogen to join the call. A live audio webcast and archived recording of the conference call will be available to all interested parties through the News / Events page on the Inogen Investor Relations website. This webcast will also be archived on the website for 6 months.

A replay of the call will be available approximately three hours after the live webcast ends and will be accessible through November 12, 2025. To access the replay, dial (877) 660-6853 or (201) 612-7415 and reference Conference ID: 13755676.

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.

About Inogen

Inogen, Inc. (Nasdaq: INGN) is a leading global medical technology company offering innovative respiratory products for use in the homecare setting. Inogen supports patient respiratory care by developing, manufacturing, and marketing innovative best-in-class respiratory therapy devices used to deliver care to patients suffering from chronic respiratory conditions. Inogen partners with patients, prescribers, home medical equipment providers, and distributors to make its respiratory therapy products widely available, allowing patients the chance to manage the impact of their disease.

For more information, please visit www.inogen.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this communication that are not historical facts, including, but not limited to, statements regarding Inogen’s future business plans, market opportunities, financial outlook, growth strategies, and anticipated operational results, are forward-looking statements. Words such as “aims,” “believes,” “anticipates,” “plans,” “expects,” “will,” “intends,” “potential,” “possible,” and similar expressions are intended to identify forward-looking statements. 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 and uncertainties relating to Inogen’s fourth quarter and full year financial guidance; market acceptance of its products; competition; its sales, marketing and distribution capabilities; its planned sales, marketing, and research and development activities; and risks associated with international operations. Information on these and additional risks, uncertainties, and other information affecting Inogen’s business operating results are contained in its Annual Report on Form 10-K for the period ended December 31, 2024, and in its other filings with the Securities and Exchange Commission. 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.

Non-GAAP Financial Measures

Inogen has presented certain financial information in accordance with U.S. GAAP and also on a non-GAAP basis for the three and nine months ended September 30, 2025, and September 30, 2024, including EBITDA; adjusted EBITDA; adjusted operating expense; adjusted loss from operations; adjusted net loss; and adjusted diluted EPS. Management believes that non-GAAP financial measures, taken in conjunction with U.S. GAAP financial measures, provide useful information for both management and investors by excluding certain non-cash and other expenses that are not indicative of Inogen’s core operating results. Management uses non-GAAP measures to compare Inogen’s performance relative to forecasts and strategic plans, to benchmark Inogen’s performance externally against competitors, and for certain compensation decisions. Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used to supplement an understanding of Inogen's operating results as reported under U.S. GAAP. Inogen encourages investors to carefully consider its results under U.S. GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between U.S. GAAP and non-GAAP results are presented in the accompanying tables of this release. For future periods, Inogen is unable to provide a reconciliation of non-GAAP measures without unreasonable effort as a result of the uncertainty regarding, and the potential variability of, the amounts of interest income, interest expense, depreciation and amortization, stock-based compensation, provision or benefit for income taxes, and certain other infrequently occurring items, such as acquisition-related costs, that may be incurred in the future.