Inogen, Inc. (NASDAQ:INGN) Q2 2020 Earnings Conference Call - Final Transcript

Aug 04, 2020 • 04:30 pm ET


Inogen, Inc. (NASDAQ:INGN) Q2 2020 Earnings Conference Call - Final Transcript


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Greetings and welcome to the Inogen's Second Quarter 2020 Financial Results Conference Call. [Operator Instructions] I would now like to turn the conference over today to Mr. Matt Pigeon, Investor Relations. Thank you. You may begin.

Matthew Pigeon

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 second quarter of 2020. This earnings release and Inogen's corporate presentation are currently available on the Investor Relations section of the company's website.

As a reminder, the information presented today will include forward-looking statements, including without limitation, statements about our growth prospects and strategy for 2020 and beyond, our ability to create shareholder value by driving awareness of our products, expectations regarding international sales and tender activity, sales expectations in our domestic sales channels, including expectations related to our rental channel, hiring expectations and expectations regarding our sales and marketing roles, expectations regarding reimbursement and regulatory changes and the impact of COVID-19 public health emergency or PHE on our business and demand for our products.

The 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 risk 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 obligations to update these forward-looking statements except as that may be required by law. We have posted historical financial statements in our investor presentations 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 U.S. 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 to make operating decisions. Reconciliations between U.S. 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 directly comparable GAAP measures without unreasonable effort as discussed in more detail in our earnings release.

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

Scott Wilkinson

Thanks, Matt. Good afternoon and thank you for joining our second quarter 2020 conference call. As everyone is aware, the COVID-19 virus began having a significant impact in the U.S. in the first calendar quarter of this year and continued to have a meaningful impact throughout the second quarter. The COVID-19 pandemic led governments to order residents to shelter in place and practice social distancing to reduce further transmission. Such orders have come at a time when our business typically benefits from the seasonal increase of patients ordering