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

Quarterly report pursuant to Section 13 or 15(d)

Loss per Share

Loss per Share

6 Months Ended

Jun. 30, 2024

7. Loss per share

Loss per share (EPS) is computed in accordance with ASC 260—Earnings per Share and is calculated using the weighted average number of common shares outstanding during each period. Diluted EPS assumes the conversion, exercise, or issuance of all potential common stock equivalents (which can include dilution of outstanding stock options, restricted stock units, and restricted stock awards) unless the effect is to reduce a loss or increase the income per share. For purposes of this calculation, common stock subject to repurchase by the Company, options, and other dilutive awards are considered to be common stock equivalents and are only included in the calculation of diluted loss per share when their effect is dilutive.

Basic loss per share is calculated using the Company's weighted-average outstanding common shares. Diluted loss per share is calculated using the Company's weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method.

The computation of EPS is as follows:


	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
Numerator—basic and diluted:
Net loss	$	(5,590	)	$	(9,826	)	$	(20,168	)	$	(30,175	)

Denominator:
Weighted average common shares - basic common stock (1)		23,614,970			23,146,117			23,508,284			23,078,244
Weighted average common shares - diluted common stock		23,614,970			23,146,117			23,508,284			23,078,244

Net loss per share - basic common stock	$	(0.24	)	$	(0.42	)	$	(0.86	)	$	(1.31	)
Net loss per share - diluted common stock (2)	$	(0.24	)	$	(0.42	)	$	(0.86	)	$	(1.31	)

Denominator calculation from basic to diluted:
Weighted average common shares - basic common stock (1)		23,614,970			23,146,117			23,508,284			23,078,244
Stock options and other dilutive awards		499,441			90,017			412,687			211,114
Weighted average common shares - diluted common stock		24,114,411			23,236,134			23,920,971			23,289,358

Shares excluded from diluted weighted average shares:
Stock options		—			54,498			—			54,498
Restricted stock units and restricted stock awards		522,167			1,209,475			539,894			377,931
Shares excluded from diluted weighted average shares		522,167			1,263,973			539,894			432,429

(1)

Unvested restricted stock units and restricted stock awards are not included as shares outstanding in the calculation of basic earnings per share. Vested restricted stock units and restricted stock awards are included in basic earnings per share if all vesting and performance criteria have been met. Performance-based restricted stock units and restricted stock awards are included in the number of shares used to calculate diluted earnings per share as long as all applicable performance criteria are met, and their effect is dilutive. Restricted stock awards are eligible to receive all dividends declared on the Company’s common shares during the vesting period; however, such dividends are not paid until the restrictions lapse.

(2)

Due to net losses for the three and six months ended June 30, 2024 and June 30, 2023, diluted loss per share is the same as basic.