Inogen, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities
Net income	$ 6,826us-gaap_NetIncomeLoss	$ 25,435us-gaap_NetIncomeLoss	$ 564us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	12,080	8,544	4,984
Loss on rental units	1,895	305	258
Loss on disposal of other fixed assets	2us-gaap_GainLossOnSaleOfOtherAssets	16us-gaap_GainLossOnSaleOfOtherAssets	5us-gaap_GainLossOnSaleOfOtherAssets
Provision for sales returns	3,451us-gaap_SalesReturnsAndAllowancesGoods	1,770us-gaap_SalesReturnsAndAllowancesGoods	627us-gaap_SalesReturnsAndAllowancesGoods
Provision for doubtful accounts	1,692us-gaap_ProvisionForDoubtfulAccounts	2,045us-gaap_ProvisionForDoubtfulAccounts	1,071us-gaap_ProvisionForDoubtfulAccounts
Provision for rental revenue adjustments	7,898	6,613	3,102
Provision for inventory obsolescence	147us-gaap_InventoryWriteDown	78us-gaap_InventoryWriteDown	42us-gaap_InventoryWriteDown
Provision for other inventory losses	55us-gaap_ProvisionForOtherLosses
Stock-based compensation expense	1,451us-gaap_ShareBasedCompensation	230us-gaap_ShareBasedCompensation	60us-gaap_ShareBasedCompensation
Increase (decrease) in fair value of preferred stock warrant liability	(36)us-gaap_FairValueAdjustmentOfWarrants	262us-gaap_FairValueAdjustmentOfWarrants	(148)us-gaap_FairValueAdjustmentOfWarrants
Deferred tax assets	1,564us-gaap_DeferredIncomeTaxExpenseBenefit	(21,788)us-gaap_DeferredIncomeTaxExpenseBenefit
Excess tax benefits from stock-based compensation arrangements	(1,641)
Changes in operating assets and liabilities:
Accounts receivable	(22,159)	(13,628)	(7,462)
Inventories	(3,570)us-gaap_IncreaseDecreaseInInventories	(267)us-gaap_IncreaseDecreaseInInventories	(2,436)us-gaap_IncreaseDecreaseInInventories
Deferred costs of rental revenue	(226)	(130)	(89)
Prepaid expenses and other current assets	(591)	(378)	(15)
Accounts payable and accrued expenses	3,637	2,150	1,705
Accrued payroll	1,168	543	893
Warranty reserve	306	362	197
Deferred revenue	2,229	1,169	500
Income tax receivable	(401)	(87)
Income tax payable		(25)	4
Deferred tax liabilities		(10)	3
Other noncurrent liabilities	(80)	258	139
Net cash provided by operating activities	15,697	13,467	4,004
Cash flows from investing activities
Investment in intangible assets	(205)	(37)	(63)
Production of rental equipment	(14,481)ingn_PaymentToProduceRentalEquipment	(15,075)ingn_PaymentToProduceRentalEquipment	(10,361)ingn_PaymentToProduceRentalEquipment
Purchases of property and equipment	(1,551)	(3,030)	(2,024)
Payment of deposit	(17)us-gaap_PaymentsForOtherDeposits		(27)us-gaap_PaymentsForOtherDeposits
Net cash used in investing activities	(16,254)	(18,142)	(12,475)
Cash flows from financing activities
Net proceeds from issuance of Series G redeemable convertible preferred stock			19,945
Proceeds from borrowings	6,000us-gaap_ProceedsFromIssuanceOfDebt	6,000us-gaap_ProceedsFromIssuanceOfDebt	6,000us-gaap_ProceedsFromIssuanceOfDebt
Proceeds from redeemable convertible preferred stock warrants and common stock warrants exercised	506	1,883	422
Proceeds from stock options exercised	946	10	3
Proceeds from initial public offering	56,471
Costs associated with initial public offering	(6,031)us-gaap_PaymentsOfStockIssuanceCosts	(597)us-gaap_PaymentsOfStockIssuanceCosts
Employee stock purchase	413us-gaap_ProceedsFromStockPlans
Repayment of debt from investment in intangible assets	(213)us-gaap_RepaymentsOfLongTermDebt	(212)us-gaap_RepaymentsOfLongTermDebt	(213)us-gaap_RepaymentsOfLongTermDebt
Repayment of borrowings	(15,861)us-gaap_RepaymentsOfDebt	(4,000)us-gaap_RepaymentsOfDebt	(6,480)us-gaap_RepaymentsOfDebt
Excess tax benefits from stock-based compensation arrangements	1,641
Net cash provided by financing activities	43,872	3,084	19,677
Net increase (decrease) in cash and cash equivalents	43,315	(1,591)	11,206
Cash and cash equivalents, beginning of period	13,521	15,112	3,906
Cash and cash equivalents, end of period	56,836	13,521	15,112
Supplemental disclosures of cash flow information
Cash paid during the period for interest	487us-gaap_InterestPaid	552us-gaap_InterestPaid	462us-gaap_InterestPaid
Cash paid during the period for income taxes	2,061us-gaap_IncomeTaxesPaid	311us-gaap_IncomeTaxesPaid	37us-gaap_IncomeTaxesPaid
Non-cash transactions:
Deemed dividend on redeemable convertible preferred stock	$ 987	$ 7,278	$ 5,781