vs
Side-by-side financial comparison of C3.ai, Inc. (AI) and Inogen Inc (INGN). Click either name above to swap in a different company.
C3.ai, Inc. is the larger business by last-quarter revenue ($75.1M vs $68.6M, roughly 1.1× Inogen Inc). On growth, Inogen Inc posted the faster year-over-year revenue change (3.4% vs -20.3%). Inogen Inc produced more free cash flow last quarter ($-1.9M vs $-46.9M). Over the past eight quarters, Inogen Inc's revenue compounded faster (4.2% CAGR vs -2.1%).
C3.ai, Inc. is a leading enterprise artificial intelligence software provider that develops and delivers scalable AI applications, platform tools, and industry-specific solutions for clients across sectors including manufacturing, energy, financial services, healthcare and public sector. Its offerings help organizations optimize operations, reduce costs, mitigate risks, and realize data-driven decision making.
Inogen Inc is a medical technology firm specializing in the development, production and distribution of portable oxygen concentrators and associated respiratory care products. It caters primarily to patients with chronic respiratory conditions needing long-term oxygen therapy across North America, Europe and other global markets, focusing on home care and ambulatory patient segments to enhance users' quality of life.
AI vs INGN — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $68.6M |
| Net Profit | $-104.7M | — |
| Gross Margin | 40.4% | 51.4% |
| Operating Margin | -149.2% | -13.6% |
| Net Margin | -139.3% | — |
| Revenue YoY | -20.3% | 3.4% |
| Net Profit YoY | -58.7% | — |
| EPS (diluted) | $-0.75 | $-0.26 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $75.1M | $68.6M | ||
| Q3 25 | $70.3M | $79.1M | ||
| Q2 25 | $108.7M | $79.2M | ||
| Q1 25 | $98.8M | $68.5M | ||
| Q4 24 | $94.3M | $66.3M | ||
| Q3 24 | $87.2M | $74.9M | ||
| Q2 24 | $86.6M | $74.4M | ||
| Q1 24 | $78.4M | $63.1M |
| Q4 25 | $-104.7M | — | ||
| Q3 25 | $-116.8M | $-5.3M | ||
| Q2 25 | $-79.7M | $-4.2M | ||
| Q1 25 | $-80.2M | $-6.2M | ||
| Q4 24 | $-66.0M | — | ||
| Q3 24 | $-62.8M | $-6.0M | ||
| Q2 24 | $-72.9M | $-5.6M | ||
| Q1 24 | $-72.6M | $-14.6M |
| Q4 25 | 40.4% | 51.4% | ||
| Q3 25 | 37.6% | 52.2% | ||
| Q2 25 | 62.1% | 52.2% | ||
| Q1 25 | 59.1% | 53.1% | ||
| Q4 24 | 61.3% | 54.7% | ||
| Q3 24 | 59.8% | 55.2% | ||
| Q2 24 | 59.6% | 57.4% | ||
| Q1 24 | 57.8% | 54.5% |
| Q4 25 | -149.2% | -13.6% | ||
| Q3 25 | -177.7% | -9.0% | ||
| Q2 25 | -81.8% | -7.7% | ||
| Q1 25 | -88.7% | -11.2% | ||
| Q4 24 | -79.8% | -17.2% | ||
| Q3 24 | -83.2% | -10.4% | ||
| Q2 24 | -95.1% | -9.5% | ||
| Q1 24 | -105.3% | -25.8% |
| Q4 25 | -139.3% | — | ||
| Q3 25 | -166.2% | -6.7% | ||
| Q2 25 | -73.3% | -5.2% | ||
| Q1 25 | -81.2% | -9.0% | ||
| Q4 24 | -69.9% | — | ||
| Q3 24 | -72.0% | -8.0% | ||
| Q2 24 | -84.2% | -7.5% | ||
| Q1 24 | -92.6% | -23.1% |
| Q4 25 | $-0.75 | $-0.26 | ||
| Q3 25 | $-0.86 | $-0.20 | ||
| Q2 25 | $-0.60 | $-0.15 | ||
| Q1 25 | $-0.62 | $-0.25 | ||
| Q4 24 | $-0.52 | $-0.41 | ||
| Q3 24 | $-0.50 | $-0.25 | ||
| Q2 24 | $-0.59 | $-0.24 | ||
| Q1 24 | $-0.60 | $-0.62 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $675.0M | $103.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $771.9M | $192.2M |
| Total Assets | $961.3M | $298.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | $103.7M | ||
| Q3 25 | $711.9M | $106.5M | ||
| Q2 25 | $742.7M | $103.7M | ||
| Q1 25 | $724.3M | $118.9M | ||
| Q4 24 | $730.4M | $113.8M | ||
| Q3 24 | $762.5M | $105.7M | ||
| Q2 24 | $750.4M | $97.9M | ||
| Q1 24 | $723.3M | $107.4M |
| Q4 25 | $771.9M | $192.2M | ||
| Q3 25 | $798.8M | $197.2M | ||
| Q2 25 | $838.3M | $199.5M | ||
| Q1 25 | $860.2M | $198.0M | ||
| Q4 24 | $859.0M | $173.9M | ||
| Q3 24 | $874.9M | $185.4M | ||
| Q2 24 | $873.4M | $187.6M | ||
| Q1 24 | $898.0M | $191.9M |
| Q4 25 | $961.3M | $298.6M | ||
| Q3 25 | $968.7M | $307.0M | ||
| Q2 25 | $1.0B | $312.0M | ||
| Q1 25 | $1.1B | $308.4M | ||
| Q4 24 | $1.0B | $296.2M | ||
| Q3 24 | $1.1B | $306.2M | ||
| Q2 24 | $1.0B | $308.9M | ||
| Q1 24 | $1.1B | $315.6M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-46.5M | $-943.0K |
| Free Cash FlowOCF − Capex | $-46.9M | $-1.9M |
| FCF MarginFCF / Revenue | -62.4% | -2.8% |
| Capex IntensityCapex / Revenue | 0.5% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | $-13.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | $-943.0K | ||
| Q3 25 | $-33.5M | $2.2M | ||
| Q2 25 | $11.3M | $4.3M | ||
| Q1 25 | $-22.0M | $-16.8M | ||
| Q4 24 | $-38.7M | $-3.0M | ||
| Q3 24 | $8.0M | $7.0M | ||
| Q2 24 | $21.3M | $6.7M | ||
| Q1 24 | $-39.1M | $-4.7M |
| Q4 25 | $-46.9M | $-1.9M | ||
| Q3 25 | $-34.3M | $1.6M | ||
| Q2 25 | $10.3M | $3.7M | ||
| Q1 25 | $-22.4M | $-17.1M | ||
| Q4 24 | $-39.5M | $-3.3M | ||
| Q3 24 | $7.1M | $5.3M | ||
| Q2 24 | $18.8M | $6.6M | ||
| Q1 24 | $-45.1M | $-6.1M |
| Q4 25 | -62.4% | -2.8% | ||
| Q3 25 | -48.8% | 2.0% | ||
| Q2 25 | 9.5% | 4.6% | ||
| Q1 25 | -22.7% | -24.9% | ||
| Q4 24 | -41.9% | -5.0% | ||
| Q3 24 | 8.2% | 7.1% | ||
| Q2 24 | 21.7% | 8.9% | ||
| Q1 24 | -57.6% | -9.6% |
| Q4 25 | 0.5% | 1.4% | ||
| Q3 25 | 1.1% | 0.7% | ||
| Q2 25 | 0.9% | 0.9% | ||
| Q1 25 | 0.4% | 0.4% | ||
| Q4 24 | 0.9% | 0.5% | ||
| Q3 24 | 1.1% | 2.2% | ||
| Q2 24 | 2.9% | 0.1% | ||
| Q1 24 | 7.8% | 2.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
INGN
| Other | $36.1M | 53% |
| Non Us | $32.5M | 47% |
