Inogen, Inc (INGN) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.360 for us. There is an existing population of tanks in 00:00:05.360 -- 00:00:09.847 Brazil, as well as POCs. There's other POCs that are in the market. 00:00:09.847 -- 00:00:13.993 So we're not the first entrant that is in there, but we are entering in, of course, as 00:00:13.993 -- 00:00:19.402 the premium brand in Brazil. We have partnerships with local 00:00:19.402 -- 00:00:23.729 HMEs that exist also in other markets who are familiar with us and know how to position 00:00:23.729 -- 00:00:27.575 the Inogen brand. We're looking forward to the growth coming out of there, but this is 00:00:27.575 -- 00:00:32.139 one that will continue to develop over time with market access. 00:00:32.643 -- 00:00:36.970 Okay, got it. And then net rental patients at the end of the first quarter had a steeper 00:00:36.970 -- 00:00:41.818 decline than the recent trends. Could you walk us through what drove the acceleration 00:00:41.818 -- 00:00:44.483 this quarter and how we should be thinking about this channel through the remainder of 00:00:44.483 -- 00:00:46.583 the year? 00:00:47.517 -- 00:00:52.247 Yeah, when we look at the rental program, we talked about, and I'm going to bucket this 00:00:52.247 -- 00:00:56.174 first if we step back, and you think about the dynamics that are happening within the 00:00:56.174 -- 00:01:01.645 markets that we have been planning for and strategizing and optimizing the channels. 00:01:01.645 -- 00:01:06.876 But the shift that we see from within the U.S., which is where, of course, rental is, 00:01:06.876 -- 00:01:12.122 from the oxygen tanks to the POCs, It has an impact on both the headwind 00:01:12.122 -- 00:01:17.353 on the DTC as well as the rental patients, which is also creating that tailwind 00:01:17.353 -- 00:0...