Company: INGN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029993
Chunk: 240

Company: Inogen Inc
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 240
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4.8%, of total net accounts receivable as of December 31, 2024 compared to $2,059, or 4.9%, of total net accounts receivable as of December 31, 2023.The Company currently purchases raw materials from a limited number of vendors, which resulted in a concentration of three major vendors. The three major vendors supply the Company with raw materials used to manufacture the Company’s products. For the year ended December 31, 2024, the Company’s three major vendors accounted for 19.6%, 18.4% and 10.2%, respectively, of total raw material purchases. For the year ended December 31, 2023, the Company’s three major vendors accounted for 30.8%, 16.1% and 7.9%, respectively, of total raw material purchases.  

 F-17

A portion of revenue is earned from sales outside the United States. Approximately 77.2%, 77.7% and 70.9% of the non-U.S. revenue for the years ended December 31, 2024, 2023 and 2022, respectively, were invoiced in Euros. A breakdown of the Company’s revenue from U.S. and non-U.S. sources for the years ended December 31, 2024, 2023 and 2022, respectively, is as follows: 

          Years ended December 31,

          2024

          2023

          2022

          U.S. revenue
           
          $
          218,498

          $
          226,259

          $
          276,078

          Non-U.S. revenue

          117,207

          89,401

          101,163

          Total revenue
           
          $
          335,705

          $
          315,660

          $
          377,241

        Inventories Inventories are stated at the lower of cost and net realizable value, using the first-in, first-out (FIFO) method. The Company records adjustments to inventory for potentially excess, obsolete, slow-moving or impaired items, and losses on firm purchase commitments as a component of cost of sales in the consolidated statements of comprehensive loss. The Company recorded noncurrent inventory related to inventories that are expected to be realized or consumed after one year of $1,291 and $1,225 as of December 31, 2024 and