Filing Flows › Inogen (INGN) › Q2 2025
Inogen (INGN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
Inogen (INGN) reported revenue of $92.3M for the second quarter 2025 (Q2 2025), +4% from a year earlier and +12% from the quarter before. Operating margin was -6.6%, net loss $4.2M (4.5% of revenue).
Inogen, Q2 2025: revenue $92.3M (+4% year over year), operating margin -6.6%, net loss $4.2M, operating cash flow $4.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $92.3M | +12% | +4% |
| Operating profit | −$6.1M | — | — |
| Net earnings | −$4.2M | — | — |
| Operating cash flow | $4.3M | — | -35% |
| Free cash flow | $3.7M | — | -45% |
What changed
Revenue was $92.3M in Q2 2025, up 4% year over year and up 12% from the previous quarter.
Gross margin was 44.8%, down 3.3 points from a year earlier. Operating costs exceeded revenue by $6.1M, an operating margin of -6.6%. Operating expenses fell 5% while revenue rose 4%. The quarter ended with a net loss of $4.2M, narrower than the previous quarter's $6.2M loss. Non-operating items added $1.8M, -42% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $4.3M (down 35% year over year). Non-cash charges added back $5.2M of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items added $1.0M. Capital expenditures of $684K left free cash flow of $3.7M.
Questions
What was Inogen's revenue in the second quarter 2025?
Inogen (INGN) reported revenue of $92.3M for the second quarter 2025 (Q2 2025), +4% from a year earlier and +12% from the quarter before.
Was Inogen profitable in the second quarter 2025?
Operating loss was $6.1M (-6.6% of revenue) and net loss $4.2M.
Source: Inogen 10-Q on SEC EDGAR.