Inogen, Inc. (NASDAQ:INGN) Q4 2019 Earnings Conference Call - Final Transcript

Feb 25, 2020 • 04:30 pm ET

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Inogen, Inc. (NASDAQ:INGN) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day and welcome to the Inogen Fourth Quarter 2019 Financial Results Conference Call and Webcast. [Operator Instructions] I would now like to turn the conference over to Matt Bacso with Investor Relations. Please go ahead.

Executive
Matt Bacso

Thank you for participating in today's call. Joining me from Inogen is CEO, Scott Wilkinson; and CFO and Co-Founder, Ali Bauerlein.

Earlier today, Inogen released financial results for the fourth quarter of 2019. This earnings release and Inogen's corporate presentation are currently available in the Investor Relations section of the Company's website.

As a reminder, the information presented today will include forward-looking statements, including statements about our growth prospects and strategy for 2020, hiring expectations and strategy, expectations regarding international sales and tender activity, HME strategy and expectations, our rental strategy, expectations for all revenue channels, marketing expectations, manufacturing and cost of Inogen One G5, expectations regarding competitive bidding, our expectation on the TAV rollout and TAV sales, and financial guidance for 2020.

Forward-looking statements in this call are based on information currently available to us as of today's date. These forward-looking statements are only predictions and involve risks and uncertainties that are set forth in more detail in our most recent periodic reports filed with the Securities and Exchange Commission. Actual results may vary, and we disclaim any obligation to update these forward-looking statements except as may be required by law.

We have posted historical financial statements and our investor presentation in the Investor Relations section of the Company's website. Please refer to these files for more detailed information. During the call, we will also present certain financial information on a non-GAAP basis. Management believes that non-GAAP financial measures taken in conjunction with US GAAP financial measures provide useful information for both management and investors by excluding certain non-cash items and other expenses that are not indicative of Inogen's core operating results. Management uses non-GAAP measures internally to understand, manage and evaluate our business and make operating decisions. Reconciliations of US GAAP and non-GAAP results are presented in tables within our earnings release. For future periods, we are unable to provide a reconciliation of our non-GAAP guidance to the most direct comparable GAAP measures without unreasonable effort, as discussed in more detail in our earnings release.

With that, I'll turn the call over to Inogen's President and CEO, Scott Wilkinson. Scott?

Executive
Scott Wilkinson

Thanks Matt. Good afternoon and thank you for joining our fourth quarter 2019 conference call. Before moving into a review of our quarter results, I'd like to take a moment to provide some high level context around our view of the market, our recent performance and our vision for the future.

We believe we are a leader in POC technology with our product offerings in the market for our technology remains underpenetrated. However, following multiple years of high revenue growth, our recent performance has exhibited a slowdown in revenue growth, as well as some headwinds to profitability. We are proud that in 2019, we launched the best-in-class Inogen One G5, acquired New Aera