GOLETA, CA – Medtrade exhibitor Inogen, Inc. (pictured here at Medtrade 2025) posted $92.4 million in revenue for the quarter ended Sept. 30, 2025. The amount adds up to a year-over-year increase of 4.0%, marking the California-based company’s seventh consecutive quarter of mid-single-digit percentage growth.
“We continue to make meaningful progress, driving consistent mid-single-digit revenue growth, operational improvements, and strong adjusted EBITDA,” said Kevin Smith, president and CEO. “This quarter’s results reflect the strength of our commercial strategies, financial discipline, and commitment to delivering innovative solutions. Looking forward, we remain focused on building long-term value for our shareholders by advancing Inogen’s leadership in respiratory care.”
According to a company press release, revenue was a result of continued higher demand from international and domestic business-to-business customers. This increase was partially offset by lower direct-to-consumer and rental revenue.
Total gross margin in the third quarter of 2025 was 44.7% compared to 46.5% in the prior-year period, primarily the result of increased business-to-business sales as a percentage of total revenue. Total operating expense in the third quarter of 2025 was $48.4 million, a decrease of 1.4% from $49.1 million in the prior-year period, reflecting ongoing cost management efforts.
