Inogen, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2023

The activity for stock options under the Company’s stock plans for the three months ended March 31, 2023 is as follows:


								Remaining
								weighted-
						Weighted-		average		Per share
						average		contractual		average
				Price per		exercise		terms		intrinsic
	Options			share		price		(in years)		value
Outstanding as of December 31, 2022		348,284		$1.17-$83.30		$	44.21		0.43	$	2.07
Exercised		(54,432	)	1.17-8.37			7.03
Forfeited		(4,125	)		44.19		44.19
Outstanding as of March 31, 2023		289,727		8.37-83.30			51.19		0.22		0.04
Vested and exercisable as of March 31, 2023		289,727		8.37-83.30			51.19		0.22		0.04
Vested and expected to vest as of March 31, 2023		289,727		$8.37-$83.30		$	51.19		0.22	$	0.04

Summary of Restricted Stock Activity

Stock Awards activity for the three months ended March 31, 2023 is summarized below:


										Weighted-
										average
										grant
				Performance						date fair
				and						value
Restricted stock units	Time-based			time-based			Total			per share
Unvested restricted stock units as of December 31, 2022		820,941			183,197			1,004,138		$	32.72
Granted		670,317			536,990			1,207,307			15.84
Vested		(90,677	)		(15,618	)		(106,295	)		38.36
Forfeited/canceled		(80,175	)		(60,904	)		(141,079	)		31.10
Unvested restricted stock units as of March 31, 2023 (1)		1,320,406			643,665			1,964,071		$	22.82
Unvested and expected to vest restricted stock units outstanding as of March 31, 2023								1,475,786		$	23.12

										Weighted-
										average
										grant
				Performance						date fair
				and						value
Restricted stock awards	Time-based			time-based			Total			per share
Unvested restricted stock awards outstanding as of December 31, 2022		786			—			786		$	59.55
Vested		(495	)		—			(495	)		69.32
Unvested restricted stock awards outstanding as of March 31, 2023 (1)		291			—			291		$	42.93
Unvested and expected to vest restricted stock awards outstanding as of March 31, 2023								272		$	42.93

(1) Outstanding restricted stock units and restricted stock awards are based on the maximum payout of the targeted number of shares.

Summary of Stock-based Compensation Expense

Stock-based compensation expense recognized for the three months ended March 31, 2023 and 2022, was as follows:


	Three months ended
	March 31,
	2023		2022
Stock-based compensation expense by type of award:
Restricted stock units and restricted stock awards	$	3,305	$	2,468
Employee stock purchase plan		137		197
Total stock-based compensation expense	$	3,442	$	2,665

For the three months ended March 31, 2023 and 2022, respectively, stock-based compensation expense recognized under ASC 718, included in cost of revenue, research and development expense, sales and marketing expense, and general and administrative expense was as follows:


	Three months ended
	March 31,
	2023		2022
Cost of revenue	$	84	$	233
Research and development		458		384
Sales and marketing		774		591
General and administrative		2,126		1,457
Total stock-based compensation expense	$	3,442	$	2,665