Company: INGN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029993
Chunk: 107

Company: Inogen Inc
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 107
---
izable is subject to adjustment in future periods if estimates of future taxable income are reduced. As of December 31, 2024 and 2023, the Company determined that net deferred tax assets are not more likely than not realizable based on cumulative three-year pretax losses and recorded a full valuation allowance. The Company’s valuation allowance may increase or decrease during the next 12 months based on future operating results. The increase in valuation allowance of $6,565 is attributable to losses generated in the current year.As of December 31, 2024, unremitted earnings of the subsidiaries outside of the United States were approximately $6,552, on which no deferred tax liability has been recorded. The Company’s intention is to indefinitely reinvest these earnings outside the United States. Upon distribution of those earnings in the form of a dividend or otherwise, the Company would be subject to both state income taxes and withholding taxes payable to various foreign countries. The amounts of such tax liabilities that might be payable upon repatriation of foreign earnings are not material.The Company recognizes interest and penalties on taxes, within its income tax provision on its consolidated statements of comprehensive loss. Included in the balance of unrecognized tax benefits as of December 31, 2024, 2023 and 2022, were $2,922, $2,778 and $2,366, respectively, of tax benefits that, if recognized, would affect the effective tax rate. The Company believes that there will be no significant increases or decreases to unrecognized tax benefits within the next 12 months.A reconciliation of the beginning and ending amount of unrecognized tax benefit is as follows:  

        December 31,

        Reconciliation of liability for unrecognized tax benefits
         
        2024

        2023

        2022

        Balance at beginning of period
         
        $
        2,778

        $
        2,366

        $
        2,078

        Additions based on tax positions related to current year

        193

        400

        242

        Reductions based on tax positions related to prior year

        (82
        )

        (34
        )

        —

        Additions based on tax positions related to prior year

        33

        46

        46

        Balance at end of period
         
        $
        2,922

        $
        2,778

        $
        2,366

8. Stockholders’ equityCommon stock Each