Company: INGN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029993
Chunk: 51

Company: Inogen Inc
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 51
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 has been cleared under CE mark in the EU and is currently being sold in Europe and several other markets. In addition, we obtained 510(k) clearance for Simeox in December 2024 and plan to leverage our commercial infrastructure and capabilities to market the device in the United States, while continuing to market it in the other geographies. We intend to commercialize Simeox through the purchase of the product initially, followed by recurring sales of device disposables. We will begin efforts to obtain reimbursement coverage in the first quarter of 2025 for the Simeox product in the U.S.

 65

Results of operations 

Comparison of years ended December 31, 2024 and 2023 

Revenue  

    Years ended December 31,

    Change 2024 vs. 2023

    % of Revenue

    (dollar amounts in thousands)
     
    2024

    2023

    $

    %

    2024

    2023

    Sales revenue
     
    $
    278,756

    $
    251,607

    $
    27,149

    10.8
    %

    83.0
    %

    79.7
    %

    Rental revenue

    56,949

    64,053

    (7,104
    )

    -11.1
    %

    17.0
    %

    20.3
    %

    Total revenue
     
    $
    335,705

    $
    315,660

    $
    20,045

    6.4
    %

    100.0
    %

    100.0
    %

Sales revenue increased $27.1 million for the year ended December 31, 2024 from the year ended December 31, 2023, an increase of 10.8% from the prior year. The increase was primarily attributable to higher international and domestic business-to-business sales. We sold approximately 157,500 oxygen systems during the year ended December 31, 2024 compared to approximately 130,500 oxygen systems sold during the year ended December 31, 2023, an increase of 20.7%. 

Rental revenue decreased $7.1 million for the year ended December 31, 2024 from the year ended December 31, 2023, or a decrease of 11.1% from the