Hey Saul fans,
Recently did a deep dive into Inogen. Here’s a quick summary:
Medical device company that competes in oxygen therapy market (ever see someone lugging around an oxygen tank wherever they go?) Innovated the “portable oxygen concentrator” (POC) market. No need to carry oxygen tank as their product creates oxygen in real-time from surrounding air.
+Founders still involved
+~7% market penetration
+Market beater since IPO
+Business model is shifting towards one time sales – very limited recurring revenue and repeat business.
+Other POC products on market
+Forward PE ratio >70