Inogen (NASDAQ: INGN) reported Q4 EPS of ($0.23), $0.03 better than the analyst estimate of ($0.26). Revenue for the quarter came in at $74 million versus the consensus estimate of $69.07 million.

Fourth Quarter 2020 Highlights

• Total revenue of $74.0 million, down 6.3% from the same period in 2019, primarily due to the impacts of the COVID-19 pandemic
• Domestic business-to-business sales of $24.2 million, up 17.9% from the same period 2019
• Rental revenue of $9.4 million, up 71.7% from the same period in 2019
• Net loss of $5.1 million and Adjusted EBITDA of $3.0 million (see accompanying table for reconciliation of GAAP and non-GAAP measures)
• Cash, cash equivalents, and marketable securities were $231.2 million with no debt outstanding as of December 31, 2020

“While the COVID-19 pandemic continued to have a significant effect on our business in the fourth quarter of 2020, primarily in the direct-to-consumer and international business-to-business sales channels, we are pleased with the rebound in performance that we saw in our domestic business-to-business channel which exhibited double-digit growth in the fourth quarter of 2020 over the comparable period of the prior year,” said Inogen’s newly appointed President and Chief Executive Officer, Nabil Shabshab. “Additionally, our recent focus on the rental channel produced strong operating performance with rental revenue growing significantly in the fourth quarter of 2020 versus the comparable period in the prior year.”

For earnings history and earnings-related data on Inogen (INGN) click here.