Rohan Patel's questions to Inogen Inc (INGN) leadership • Q2 2025
Question
Rohan Patel from JPMorgan Chase & Co. requested segment-level details for the updated full-year guidance and asked about the primary drivers behind the company's improved adjusted EBITDA outlook and its path to achieving free cash flow breakeven.
Answer
EVP & CFO Michael Bourque detailed that the updated guidance anticipates mid-single-digit growth in Q3 and low-double-digit growth in Q4, supported by stabilizing Direct-to-Consumer (DTC) operations and initial contributions from the VOXIe 5 launch. Bourque emphasized that disciplined execution has led to positive adjusted EBITDA in four of the last five quarters. While not providing a specific forecast for free cash flow breakeven, he noted the $4.4 million in operating cash flow generated in Q2 and expressed confidence in the company's current cash position to fund all business needs.