Inogen, Inc · NASDAQ:INGN
Inogen — Investor Presentation (August 2026)
19 slides from Inogen's investor presentation, Aug 6, 2026
Slide 1: Corporate Overview
Corporate Overview August 6, 2026 Financial information in this presentation is as of December 31, 2025 unless otherwise noted.
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this communication that are not historical facts, including, but not limited to, statements regarding Inogen’s futu
Slide 3: Who We Are: Diversifying to a Respiratory Care Platform
Who We Are Diversifying from Single-Product Oxygen Company to a Respiratory Care Platform Inogen Inogen Inogen Inogen Oxygen Therapy Rove 6 Rove 4 At Home Voxi 5 Airway Clearance Simeox H Simeox 200 Aurora F1 Aurora N1 Aurora P1 Sleep Therapy Full Face Mask Nasal Mask Nasal Pillow Mask Inogen Connec
Slide 4: Transforming Inogen into a Respiratory Care Global Leader
Investment Thesis Transforming Inogen into a Respiratory Care Global Leader Evolving into a diversified respiratory care platform Compelling turnaround underway Transforming from a single-product oxygen company into an integrated portfolio serving Delivering positive adjusted EBITDA in FY25, the fir
Slide 5: Improving Lives Through Respiratory Care
The Inogen Difference Improving Lives Through Respiratory Care Mission Vision Strategy Strategic Priorities To provide an ecosystem To be a global market To provide fully connected • Drive top line growth of innovative solutions leader within innovative, solutions for home • Advance profitability th
Slide 6: Relying on Proven Leaders for Our Next Wave of Growth
Management Team Relying on Proven Leaders for Our Next Wave of Growth Kevin R.M. Smith Jason Richardson Andy Reding Dominic Hulton Naga Rameswamy Krishna Jhaveri President, CEO and Director Executive Vice President, Chief Operating Officer Chief Marketing Officer Chief Technology Officer Chief Medic
Slide 7: Executing a Turnaround Under New Leadership
The Inogen Difference Executing a Turnaround Under New Leadership 10% FY23-FY25 72% FY23-FY25 2023 2024 2025 Revenue Operating Loss Improvement Improvement Total Revenue $316M $336M $349M 10% FY23-FY25 78% FY23-FY25 Operating Loss ($109M) ($43M) ($30M) Gross Margin Net Loss Improvement Improvement N
Slide 8: Leveraging Our Market Leading Position to Adjacent Markets
Market Opportunity Leveraging Our Market Leading Position to Adjacent Markets Bronchiectasis / CF COPD ~4M U.S. patients have ~15-20M U.S. patients Inogen is expanding to disease airway clearance needs have COPD states that have significant overlap with COPD We are leveraging Inogen’s commercial inf
Slide 9: Unlocking Growth by Moving into Large, Growing Markets
Market Opportunity Unlocking Growth by Moving into Large, Growing Markets Moving Inogen’s weighted average market growth rate from low-single digits to high-single digits 2024 2025 Added 2026 Added Future Markets Portable Oxygen Stationary Oxygen CPAP Masks Airway Concentrators Concentrators and Acc
Slide 10: Capitalizing on Our POC Business to Drive Long Term Growth
Market Opportunity Capitalizing on Our POC Business to Drive Long Term Growth Inogen has 20+ years of global leadership in the long-term oxygen therapy market Ambulatory Oxygen New Patient Starts If you don’t have an Inogen, you don’t have an Inogen. 2019 2025 Trusted by Best-in-Class 20+ Years of D
Slide 11: Launching New Products to Expand Product Offerings
Expand Innovation Pipeline Launching New Products to Expand Product Offerings Launched in Q2 2025 Launched in Q1 2026 FDA Cleared in Q4 2024 Voxi 5 Stationary Oxygen Concentrator Aurora Masks offer a portfolio of quality Simeox 200 Airway Clearance Device, combines affordability with durability, set
Slide 12: Building Digital Solutions to Drive Greater Value
Expand Innovation Pipeline Building Digital Solutions to Drive Greater Value Digital Roadmap Stakeholders Patient-facing Patient app AI alerts and RPM/RTM Platform exacerbation prediction Physician Compliance Tracking HME Location/ Connectivity Fleet Management 2025 Time 12
Slide 13: Highlighting Key Financials
Fiscal Year 2025 Highlighting Key Financials Revenue Breakdown 2 $349M $2.7M (12 Months ended December 31, 2025) International Sales Annual Revenue Adjusted EBITDA 40% 44.2% $8.0M Adjusted Net Loss ~$349M Gross Margin U.S. Sales 45% U.S. Rentals $121M Cash, cash equivalents, $0.0M Debt 1 15% marketa
Slide 14: Delivering on our Strategic Priorities
Financial Outlook Year 2026 Delivering on our Strategic Priorities Drive Top Line Growth Revenue over Time • Accelerate POC conversion from oxygen tanks $ in Millions • Scale new products by leveraging market leading position in POC • Expand internationally $349 $336 Advance Profitability • Continue
Slide 15: Balancing Capital Allocation with Reinvesting in the Company
Financial Investments Balancing Capital Allocation with Reinvesting in the Company CAPITAL ALLOCATION PRIORITIES Invest in Core Business • Continue to develop best-in-class POCs and SOCs • Launch new products in large, growing markets, leveraging Inogen’s core capabilities Invest in Return of Return
Slide 16: Setting Longer-Term Goals
Looking Ahead Setting Longer-Term Goals Revenue Profitability Innovation High-single-digit revenue growth 10% or better Adjusted EBITDA Launch at least 1 new product per year that is accretive to our gross margin profile 16
Slide 17: Why Inogen will Win
Investment Thesis Why Inogen will Win Evolving into a diversified respiratory care platform Proven core POC franchise with meaningful runway Strategic portfolio expansion into large, growing markets, materially increasing TAM Compelling turnaround underway Improving lives for sustainable,
Slide 18: Improving lives through respiratory care.
Improving lives through respiratory care.
Slide 19: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Twelve months ended (in thousands, except per share amount) December 31, Non-GAAP EBITDA and Adjusted EBITDA 2025 2024 2023 Net loss (GAAP) $ (22,747) $ (35,888) $ (102,449) Non-GAAP adjustments: Interest income, net (4,385) (5,190) (6,574) (Benefit) provision for in