Inogen, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Balance Sheet Components (Tables)

Balance Sheet Components (Tables)

9 Months Ended

Sep. 30, 2026

Balance Sheet Related Disclosures [Abstract]

Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's consolidated balance sheet that are shown in aggregate in the accompanying consolidated statement of cash flows:


	September 30,		September 30,
	2026		2025
Cash and cash equivalents	$	81,844	$	106,476
Restricted cash		870		1,281
Total cash, cash equivalents, and restricted cash	$	82,714	$	107,757

Schedule of Net Accounts Receivable Balance Concentrations by Major Category

Net accounts receivable (gross accounts receivable, net of allowances) balance concentrations by major category as of September 30, 2026 and December 31, 2025 were as follows:


	September 30,		December 31,
Net accounts receivable	2026		2025
Rental (1)	$	4,952	$	-
Business-to-business and other receivables		43,662		34,138
Total net accounts receivable	$	48,614	$	34,138

(1) Rental includes Medicare, Medicaid/other government, private insurance, and patient pay.

Schedule of Allowances for Accounts Receivable

The following table sets forth the accounts receivable allowances as of September 30, 2026 and December 31, 2025:


	September 30,		December 31,
Allowances - accounts receivable	2026		2025
Credit losses	$	325	$	60
Sales returns		330		418
Total allowances - accounts receivable	$	655	$	478

Breakdown of Company's Revenue from U.S. and Non-U.S. Sources

A portion of revenue is earned from sales outside the United States. Approximately 76.2% and 79.2% of international revenue for the three months ended September 30, 2026 and 2025, respectively, were invoiced in Euros. Approximately 79.2% and 78.1% of international revenue for the nine months ended September 30, 2026 and 2025, respectively, were invoiced in Euros. A breakdown of the Company’s revenue from U.S. and international sources for the three and nine months ended September 30, 2026 and 2025, respectively, is as follows:


	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
U.S. revenue	$	42,249	$	40,687	$	119,257	$	120,421
International revenue		34,944		38,403		113,865		106,311
Total revenue	$	77,193	$	79,090	$	233,122	$	226,732

Schedule of Inventories

Inventories that are considered current consist of the following:


	September 30,		December 31,
	2026		2025
Raw materials and work-in-progress	$	16,787	$	14,945
Finished goods		12,248		11,024
Inventories	$	29,035	$	25,969

Schedule of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the nine months ended September 30, 2026 were as follows:


Balance as of December 31, 2025 (1)	$	10,698
Impairment charge		(10,559	)
Translation adjustment		(139	)
Balance as of September 30, 2026 (1)	$	—

(1) Includes $43,453 and $32,894 of accumulated impairment losses as of September 30, 2026 and December 31, 2025, respectively.

Summary of Changes in Net Carrying Values of Intangibles

Intangible assets as of September 30, 2026 and December 31, 2025 consisted of the following:


	Average
	estimated	Gross
	useful lives	carrying		Accumulated
September 30, 2026	(in years)	amount		amortization		Net amount
Developed technology	10	$	34,226	$	10,410	$	23,816
Licenses	10		159		159		—
Patents and websites	5		3,775		3,775		—
Customer relationships	4-10		3,056		1,877		1,179
Trade name	4		212		161		51
Commercials	3		494		494		—
Internally developed software	3		3,707		2,676		1,031
Total		$	45,629	$	19,552	$	26,077


	Average
	estimated	Gross
	useful lives	carrying		Accumulated
December 31, 2025	(in years)	amount		amortization		Net amount
Developed technology	10	$	35,424	$	8,118	$	27,306
Licenses	10		159		159		—
Patents and websites	5		3,775		3,771		4
Customer relationships	4-10		3,165		1,811		1,354
Trade name	4		219		126		93
Commercials	3		494		446		48
Internally developed software	3		3,707		1,749		1,958
Total		$	46,943	$	16,180	$	30,763

Schedule of Annual Estimated Amortization Expense

Annual estimated amortization expense for each of the succeeding fiscal years is as follows:


	September 30,
	2026
Remaining 3 months of 2026	$	1,220
2027		4,256
2028		3,689
2029		3,592
2030		3,474
Thereafter		9,846
Total	$	26,077

Schedule of Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses as of September 30, 2026 and December 31, 2025 consisted of the following:


	September 30,		December 31,
	2026		2025
Accounts payable	$	26,457	$	19,747
Accrued inventory (in-transit and unvouchered receipts) and trade payables		12,628		8,394
Accrued loss on purchase commitments		147		427
Forward contract payable		—		373
Other accrued expenses		1,452		3,661
Total accounts payable and accrued expenses	$	40,684	$	32,602

Schedule of Accrued Payroll

Accrued payroll as of September 30, 2026 and December 31, 2025 consisted of the following:


	September 30,		December 31,
	2026		2025
Accrued bonuses	$	3,210	$	3,366
Accrued wages and payroll taxes		4,578		2,301
Accrued vacation		4,055		3,244
Other accrued payroll expenses		88		486
Total accrued payroll	$	11,931	$	9,397