Inogen (INGN) Balance Sheet: Assets & Liabilities

Inogen (INGN) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Inogen reported total assets of $298.63M and total liabilities of $106.39M. Shareholders' equity was $192.23M, up 10.6% from $173.86M a year earlier. Total debt stood at $17.48M against $119.58M in cash and short-term investments, a net cash position of $102.10M. That puts debt-to-equity at 0.09, compared with 0.11 a year earlier.

Inogen Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Inogen, Inc. (INGN) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	103.73	113.80	125.49	187.01	235.52	211.96	198.04	196.63	142.95
Short-Term Investments	15.85	0.00	2.98	0.00	9.99	19.26	11.06	43.72	30.99
Cash & Short-Term Investments	119.58	113.80	128.47	187.01	245.51	231.22	209.09	240.35	173.94
Accounts Receivable	38.86	30.10	42.24	62.73	25.80	31.77	37.30	39.70	32.76
Inventory	25.97	24.81	21.84	34.09	31.87	24.82	35.66	27.07	18.84
Other Current Assets	13.89	16.74	13.85	19.19	26.01	17.90	10.16	7.47	4.26
Total Current Assets	198.30	185.45	207.07	304.65	329.19	305.70	292.22	314.58	228.49
Non-Current Assets
Property, Plant & Equipment (Net)	52.86	62.70	70.65	64.92	63.84	37.06	25.29	22.34	20.10
Goodwill	10.70	9.47	10.06	32.85	32.98	33.17	32.95	2.26	2.36
Intangible Assets	30.76	30.49	34.59	0.18	60.15	68.80	77.53	3.76	4.72
Other Non-Current Assets	6.00	8.08	3.83	2.45	3.36	2.67	4.89	2.83	0.77
Total Non-Current Assets	100.33	110.73	119.13	100.40	160.33	156.16	155.12	61.32	46.58
Total Assets	298.63	296.19	326.19	405.04	489.51	461.85	447.34	375.90	275.07
Current Liabilities
Accounts Payable	33.94	16.62	13.45	33.97	10.26	12.52	16.40	13.72	9.54
Short-Term Debt	3.16	2.81	3.65	3.52	3.39	1.93	2.01	0.00	0.00
Accrued Liabilities	10.63	17.19	27.75	11.19	32.25	17.82	-	-	-
Deferred Revenue	5.50	6.65	7.98	8.88	8.57	6.99	5.48	4.45	3.53
Other Current Liabilities	10.30	50.46	10.00	7.79	38.73	34.02	25.47	28.02	20.47
Total Current Liabilities	63.54	76.69	72.50	65.35	61.51	56.71	50.18	46.59	33.89
Non-Current Liabilities
Long-Term Debt	14.31	16.59	18.27	19.76	23.28	8.08	4.70	0.00	0.00
Deferred Tax Liabilities	6.75	6.95	8.54	0.00	0.00	0.03	0.09	0.23	0.35
Other Non-Current Liabilities	28.55	16.35	13.85	22.52	22.63	35.59	34.21	6.81	4.40
Total Non-Current Liabilities	42.86	45.64	48.89	42.29	57.77	55.52	52.54	18.89	14.15
Total Liabilities	106.39	122.33	121.38	107.64	119.29	112.23	102.72	65.47	48.03
Stockholders' Equity
Common Stock	0.03	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Retained Earnings	-175.58	-152.84	-116.95	-14.50	69.27	75.61	81.43	60.48	8.64
Accumulated Other Comprehensive Income	4.24	-1.50	1.23	-0.24	1.47	0.48	-0.09	0.72	0.27
Additional Paid-in Capital	363.55	328.17	320.51	312.13	299.46	273.52	263.25	249.19	218.11
Shares Outstanding	27.23	23.90	22.94	22.94	22.73	-	-	-	-
Total Stockholders' Equity	192.23	173.86	204.81	297.41	370.23	349.62	344.62	310.42	227.04
Total Liabilities & Equity	298.63	296.19	326.19	405.04	489.51	461.85	447.34	375.90	275.07

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Inogen Balance Sheet

How much debt does Inogen have?

Inogen had total debt of $17.48M as of Dec 31, 2025, against $119.58M in cash and short-term investments. Its debt-to-equity ratio was 0.09. Total debt was $19.41M a year earlier.

What are Inogen's total assets?

Inogen reported total assets of $298.63M as of Dec 31, 2025, up 0.8% from $296.19M a year earlier. Total liabilities were $106.39M.

What is Inogen's shareholders' equity?

Inogen's shareholders' equity was $192.23M as of Dec 31, 2025, or about $7.06 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition