Company: INGN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029993
Chunk: 230

Company: Inogen Inc
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 230
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6,438, respectively, of revenues recognized that were included in the deferred revenue balances, partially offset by $1,695 and $3,219, respectively, of payments received in advance of satisfying performance obligations. Deferred revenue related to lifetime warranties was $9,922 and $13,315 as of December 31, 2024 and December 31, 2023, respectively, and is classified within deferred revenue – current and noncurrent deferred revenue in the consolidated balance sheets.The Company elected to apply the practical expedient in accordance with Accounting Standards Codification (ASC) 606—Revenue Recognition and did not evaluate contracts of one year or less for the existence of a significant financing component. The Company does not expect any revenue to be recognized over a multi-year period with the exception of revenue related to lifetime warranties.

 F-10

The Company’s sales revenue is primarily derived from the sale of its oxygen concentrator products to individual consumers, home medical equipment providers, distributors, the Company’s private label partner and resellers worldwide. Sales revenue is classified into two areas: business-to-business sales and direct-to-consumer sales. The following table sets forth the Company’s sales revenue disaggregated by sales channel and geographic region:   

          Years ended December 31,

          Revenue by region and category
           
          2024

          2023

          2022

          Business-to-business domestic sales
           
          $
          83,555

          $
          66,196

          $
          86,049

          Business-to-business international sales

          117,207

          89,401

          101,163

          Direct-to-consumer domestic sales

          77,994

          96,010

          133,337

          Total sales revenue
           
          $
          278,756

          $
          251,607

          $
          320,549

        Rental revenue The Company recognizes equipment rental revenue over the non-cancelable lease term, which is one month, less estimated adjustments, in accordance with Accounting Standards Codification (ASC) 842—Leases. The Company has separate contracts with each patient that are not subject to a master lease agreement with any third-party payor. The Company evaluates the individual lease contracts at lease inception and the start of each monthly renewal period to determine if it is reasonably certain that the monthly renewal option and the bargain renewal option associated with the potential capped free rental period would be exercised. Historically,