Company: INGN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029993
Chunk: 55

Company: Inogen Inc
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 55
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4

    2023

    General and administrative expense
     
    $
    72,578

    $
    75,260

    $
    (2,682
    )

    -3.6
    %

    21.6
    %

    23.8
    %

General and administrative expense decreased $2.7 million for the year ended December 31, 2024, from the year ended December 31, 2023, a decrease of 3.6%, primarily due to decreases of $3.8 million in the change in fair value of the earnout liability, $3.4 million in restructuring-related costs, $2.5 million in chief executive officer transition costs and $1.6 million in acquisition-related expenses. These decreases were partially offset by increases of $6.9 million in personnel-related expenses and $1.1 million in dues, fees and licenses. 

Impairment charges

    Years ended December 31,

    Change 2024 vs. 2023

    % of Revenue

    (dollar amounts in thousands)
     
    2024

    2023

    $

    %

    2024

    2023

    Goodwill impairment
     
    $
    —

    $
    32,894

    $
    (32,894
    )

    -100.0
    %

    0.0
    %

    10.4
    %

There were no impairment charges for the year ended December 31, 2024. Impairment charges for the year ended December 31, 2023 resulted from a drop in our public stock price, which resulted in impairment charges to goodwill.

Other income, net 

    Years ended December 31,

    Change 2024 vs. 2023

    % of Revenue

    (dollar amounts in thousands)
     
    2024

    2023

    $

    %

    2024

    2023

    Interest income, net
     
    $
    5,190

    $
    6,574

    $
    (1,384
    )

    -21.1
    %

    1.5
    %

    2.1
    %

    Other income, net

    850

    468

    382

    81.6
    %

    0.3
    %