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Side-by-side financial comparison of indie Semiconductor, Inc. (INDI) and Inogen Inc (INGN). Click either name above to swap in a different company.
Inogen Inc is the larger business by last-quarter revenue ($68.6M vs $58.0M, roughly 1.2× indie Semiconductor, Inc.). On growth, Inogen Inc posted the faster year-over-year revenue change (3.4% vs -0.0%). Over the past eight quarters, indie Semiconductor, Inc.'s revenue compounded faster (5.3% CAGR vs 4.2%).
indie Semiconductor is a fabless semiconductor manufacturer focused on designing high-performance mixed-signal and embedded system-on-chip solutions for the automotive industry. Its products support advanced driver assistance systems, in-vehicle infotainment, connected car, and electric vehicle applications, serving global auto OEMs and tier 1 suppliers across major global markets.
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.
INDI vs INGN — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $58.0M | $68.6M |
| Net Profit | — | — |
| Gross Margin | 37.3% | 51.4% |
| Operating Margin | -58.5% | -13.6% |
| Net Margin | — | — |
| Revenue YoY | -0.0% | 3.4% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $-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.
| Q1 26 | $58.0M | — | ||
| Q4 25 | $58.0M | $68.6M | ||
| Q3 25 | $53.7M | $79.1M | ||
| Q2 25 | $51.6M | $79.2M | ||
| Q1 25 | $54.1M | $68.5M | ||
| Q4 24 | $58.0M | $66.3M | ||
| Q3 24 | $54.0M | $74.9M | ||
| Q2 24 | $52.4M | $74.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-31.2M | — | ||
| Q3 25 | $-38.3M | $-5.3M | ||
| Q2 25 | $-39.0M | $-4.2M | ||
| Q1 25 | $-34.5M | $-6.2M | ||
| Q4 24 | $-34.4M | — | ||
| Q3 24 | $-49.7M | $-6.0M | ||
| Q2 24 | $-19.2M | $-5.6M |
| Q1 26 | 37.3% | — | ||
| Q4 25 | 37.3% | 51.4% | ||
| Q3 25 | 40.1% | 52.2% | ||
| Q2 25 | 40.6% | 52.2% | ||
| Q1 25 | 41.7% | 53.1% | ||
| Q4 24 | 42.6% | 54.7% | ||
| Q3 24 | 39.3% | 55.2% | ||
| Q2 24 | 42.2% | 57.4% |
| Q1 26 | -58.5% | — | ||
| Q4 25 | -58.5% | -13.6% | ||
| Q3 25 | -71.4% | -9.0% | ||
| Q2 25 | -83.3% | -7.7% | ||
| Q1 25 | -72.0% | -11.2% | ||
| Q4 24 | -58.4% | -17.2% | ||
| Q3 24 | -92.5% | -10.4% | ||
| Q2 24 | -70.0% | -9.5% |
| Q1 26 | — | — | ||
| Q4 25 | -53.8% | — | ||
| Q3 25 | -71.3% | -6.7% | ||
| Q2 25 | -75.6% | -5.2% | ||
| Q1 25 | -63.9% | -9.0% | ||
| Q4 24 | -59.2% | — | ||
| Q3 24 | -92.1% | -8.0% | ||
| Q2 24 | -36.6% | -7.5% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.16 | $-0.26 | ||
| Q3 25 | $-0.19 | $-0.20 | ||
| Q2 25 | $-0.20 | $-0.15 | ||
| Q1 25 | $-0.18 | $-0.25 | ||
| Q4 24 | $-0.18 | $-0.41 | ||
| Q3 24 | $-0.28 | $-0.25 | ||
| Q2 24 | $-0.11 | $-0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $145.5M | $103.7M |
| Total DebtLower is stronger | $339.8M | — |
| Stockholders' EquityBook value | $382.7M | $192.2M |
| Total Assets | $840.8M | $298.6M |
| Debt / EquityLower = less leverage | 0.89× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $145.5M | — | ||
| Q4 25 | $145.5M | $103.7M | ||
| Q3 25 | $160.9M | $106.5M | ||
| Q2 25 | $192.6M | $103.7M | ||
| Q1 25 | $236.6M | $118.9M | ||
| Q4 24 | $274.2M | $113.8M | ||
| Q3 24 | $96.9M | $105.7M | ||
| Q2 24 | $112.3M | $97.9M |
| Q1 26 | $339.8M | — | ||
| Q4 25 | $353.4M | — | ||
| Q3 25 | $353.5M | — | ||
| Q2 25 | $352.5M | — | ||
| Q1 25 | $379.0M | — | ||
| Q4 24 | $381.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $382.7M | — | ||
| Q4 25 | $358.0M | $192.2M | ||
| Q3 25 | $369.2M | $197.2M | ||
| Q2 25 | $390.4M | $199.5M | ||
| Q1 25 | $405.6M | $198.0M | ||
| Q4 24 | $417.9M | $173.9M | ||
| Q3 24 | $458.6M | $185.4M | ||
| Q2 24 | $470.7M | $187.6M |
| Q1 26 | $840.8M | — | ||
| Q4 25 | $840.8M | $298.6M | ||
| Q3 25 | $855.1M | $307.0M | ||
| Q2 25 | $867.6M | $312.0M | ||
| Q1 25 | $909.0M | $308.4M | ||
| Q4 24 | $941.4M | $296.2M | ||
| Q3 24 | $797.5M | $306.2M | ||
| Q2 24 | $797.3M | $308.9M |
| Q1 26 | 0.89× | — | ||
| Q4 25 | 0.99× | — | ||
| Q3 25 | 0.96× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | 0.93× | — | ||
| Q4 24 | 0.91× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $-943.0K |
| Free Cash FlowOCF − Capex | — | $-1.9M |
| FCF MarginFCF / Revenue | — | -2.8% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-13.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-14.4M | $-943.0K | ||
| Q3 25 | $-6.2M | $2.2M | ||
| Q2 25 | $-7.6M | $4.3M | ||
| Q1 25 | $-29.0M | $-16.8M | ||
| Q4 24 | $-6.7M | $-3.0M | ||
| Q3 24 | $-22.8M | $7.0M | ||
| Q2 24 | $-19.7M | $6.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-16.1M | $-1.9M | ||
| Q3 25 | $-10.3M | $1.6M | ||
| Q2 25 | $-13.6M | $3.7M | ||
| Q1 25 | $-31.4M | $-17.1M | ||
| Q4 24 | $-8.6M | $-3.3M | ||
| Q3 24 | $-29.3M | $5.3M | ||
| Q2 24 | $-23.4M | $6.6M |
| Q1 26 | — | — | ||
| Q4 25 | -27.8% | -2.8% | ||
| Q3 25 | -19.2% | 2.0% | ||
| Q2 25 | -26.4% | 4.6% | ||
| Q1 25 | -58.0% | -24.9% | ||
| Q4 24 | -14.8% | -5.0% | ||
| Q3 24 | -54.3% | 7.1% | ||
| Q2 24 | -44.7% | 8.9% |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 1.4% | ||
| Q3 25 | 7.8% | 0.7% | ||
| Q2 25 | 11.6% | 0.9% | ||
| Q1 25 | 4.4% | 0.4% | ||
| Q4 24 | 3.2% | 0.5% | ||
| Q3 24 | 12.1% | 2.2% | ||
| Q2 24 | 7.0% | 0.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INDI
| Product revenue | $55.7M | 96% |
| Contract revenue | $2.3M | 4% |
INGN
| Other | $36.1M | 53% |
| Non Us | $32.5M | 47% |
