Slide 1: Q3 2025 Supplemental Financial Information
November 5, 2025 Q3 2025 Supplemental Financial Information
Slide 2: Use of Non-GAAP Financial Measures
Use of 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
Slide 3: Q3 2025 Results: Revenue by region and category
Q3 2025 Results Revenue by region and category Total by Category Q3 2025 Revenue Year-Over-Year Change % of Total Revenue Business-to-business $24.9 million 6.6% 26.9% domestic sales Business-to-business $38.4 million 18.8% 41.6% international sales Direct-to-consumer $15.8 million (17.9)% 17.1% dom
Slide 4: Operating Expense and Net Loss
Operating Expense and Net Loss (in thousands) Three months ended September 30, Nine months ended September 30, 2025 2024 2025 2024 Operating expense Research and development $ 4,840 $ 3,518 $ 14,083 $ 15,712 Sales and marketing 25,439 26,361 74,586 78,914 General and administrative 18,153 19,257 51,
Slide 5: Reconciliation of GAAP to Non-GAAP
Reconciliation of GAAP to Non-GAAP Adjusted EBITDA (in thousands) Three months ended September 30, Nine months ended September 30, Non-GAAP EBITDA and Adjusted EBITDA 2025 2024 2025 2024 Net loss (GAAP) $ (5,294) $ (5,963) $ (15,620) $ (26,131) Non-GAAP adjustments: Interest income, net (1,070) (1,0
Slide 6: Reconciliation of GAAP to Non-GAAP
Reconciliation of GAAP to Non-GAAP Adjusted Net Loss (in thousands) Three months ended September 30, Operating Expense Loss from Operations Net Loss Diluted EPS Non-GAAP Financial Metrics 2025 2024 2025 2024 2025 2024 2025 2024 Financial Results (GAAP) $ 48,432 $ 49,136 $ (7,116) $ (7,792) $ (5,294)
Slide 7: Stock-Based Compensation
Stock-Based Compensation (in thousands) Three months ended September 30, Nine months ended September 30, 2025 2024 2025 2024 Stock-based compensation expense by type of award: Restricted stock units $ 1,693 $ 1,362 $ 5,906 $ 5,367 Employee stock purchase plan 70 112 297 337 Total stock-based compens
Slide 8: © 2023 Inogen, Inc. All Rights Reserved.
© 2023 Inogen, Inc. All Rights Reserved. 8