Inogen, Inc. Q1 FY2026 earnings call

1. In Brazil, entering as a premium brand with partnerships, growth to develop over time. 2. Shift from oxygen tanks to POCs in US rental affects DTC and rental patients, with pressure continuing in rental channel but expecting total US back end of year growth. 3. VOC C5 ramp tracking aligns with expectations, seeing pull-through and attachment rates. 4. CPAP mask launch (Aurora masks) is going very good, meeting and exceeding expectations, high reorder rates. 5. Accelerated clinical evidence investments around Semiox and moved forward advertising spend. 6. Gross margin expansion important, and revising advertising strategy to include HCPs and HMEs with Dominic's expertise. 7. Core theme of innovation as engine for future growth, launching one new product per year, recognizing Inogen team's dedication.

1. Expect total US back end of the year growth. 2. VOC C5 ramp aligns with expectations. 3. Aim to launch one new product per year as part of long-term plan.

Q: Impact of elevated oil prices and sales into Middle East, A: Not seeing outsized impact from oil prices, some logistics surcharge implications, have supply agreements for resin material, business in Middle East with majority from Europe, not impacted yet.

Q: Update on CPAP mask launch, A: Very good, meeting and exceeding expectations, high reorder rates from customers.

Q: Adjusted net loss, A: Accelerated clinical evidence investments around Semiox and moved forward advertising spend, managing OPEX to grow EBITDA.

Q: Advertising spending target, A: Historically more towards direct-to-consumer, now revising to include HCPs and HMEs with Dominic's expertise.