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Side-by-side financial comparison of Inogen Inc (INGN) and Lifeway Foods, Inc. (LWAY). Click either name above to swap in a different company.
Inogen Inc is the larger business by last-quarter revenue ($68.6M vs $55.4M, roughly 1.2× Lifeway Foods, Inc.). On growth, Lifeway Foods, Inc. posted the faster year-over-year revenue change (18.0% vs 3.4%). Inogen Inc produced more free cash flow last quarter ($-1.9M vs $-17.4M). Over the past eight quarters, Lifeway Foods, Inc.'s revenue compounded faster (11.4% CAGR vs 4.2%).
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.
Lifeway Foods is an Illinois-based health food company founded in 1986. They are a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome.
INGN vs LWAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $68.6M | $55.4M |
| Net Profit | — | $2.5M |
| Gross Margin | 51.4% | 27.8% |
| Operating Margin | -13.6% | 6.8% |
| Net Margin | — | 4.6% |
| Revenue YoY | 3.4% | 18.0% |
| Net Profit YoY | — | 1688.1% |
| EPS (diluted) | $-0.26 | $0.15 |
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 | $68.6M | $55.4M | ||
| Q3 25 | $79.1M | $57.1M | ||
| Q2 25 | $79.2M | $53.9M | ||
| Q1 25 | $68.5M | $46.1M | ||
| Q4 24 | $66.3M | $46.9M | ||
| Q3 24 | $74.9M | $46.1M | ||
| Q2 24 | $74.4M | $49.2M | ||
| Q1 24 | $63.1M | $44.6M |
| Q4 25 | — | $2.5M | ||
| Q3 25 | $-5.3M | $3.5M | ||
| Q2 25 | $-4.2M | $4.2M | ||
| Q1 25 | $-6.2M | $3.5M | ||
| Q4 24 | — | $-160.0K | ||
| Q3 24 | $-6.0M | $3.0M | ||
| Q2 24 | $-5.6M | $3.8M | ||
| Q1 24 | $-14.6M | $2.4M |
| Q4 25 | 51.4% | 27.8% | ||
| Q3 25 | 52.2% | 28.7% | ||
| Q2 25 | 52.2% | 28.6% | ||
| Q1 25 | 53.1% | 23.9% | ||
| Q4 24 | 54.7% | 25.3% | ||
| Q3 24 | 55.2% | 25.7% | ||
| Q2 24 | 57.4% | 27.0% | ||
| Q1 24 | 54.5% | 25.8% |
| Q4 25 | -13.6% | 6.8% | ||
| Q3 25 | -9.0% | 8.8% | ||
| Q2 25 | -7.7% | 10.8% | ||
| Q1 25 | -11.2% | 3.4% | ||
| Q4 24 | -17.2% | 1.5% | ||
| Q3 24 | -10.4% | 9.1% | ||
| Q2 24 | -9.5% | 11.0% | ||
| Q1 24 | -25.8% | 8.0% |
| Q4 25 | — | 4.6% | ||
| Q3 25 | -6.7% | 6.2% | ||
| Q2 25 | -5.2% | 7.9% | ||
| Q1 25 | -9.0% | 7.7% | ||
| Q4 24 | — | -0.3% | ||
| Q3 24 | -8.0% | 6.5% | ||
| Q2 24 | -7.5% | 7.7% | ||
| Q1 24 | -23.1% | 5.4% |
| Q4 25 | $-0.26 | $0.15 | ||
| Q3 25 | $-0.20 | $0.23 | ||
| Q2 25 | $-0.15 | $0.28 | ||
| Q1 25 | $-0.25 | $0.23 | ||
| Q4 24 | $-0.41 | $0.00 | ||
| Q3 24 | $-0.25 | $0.19 | ||
| Q2 24 | $-0.24 | $0.25 | ||
| Q1 24 | $-0.62 | $0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $103.7M | $5.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $192.2M | $85.8M |
| Total Assets | $298.6M | $105.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $103.7M | $5.6M | ||
| Q3 25 | $106.5M | $23.0M | ||
| Q2 25 | $103.7M | $21.2M | ||
| Q1 25 | $118.9M | $19.4M | ||
| Q4 24 | $113.8M | $16.7M | ||
| Q3 24 | $105.7M | $20.6M | ||
| Q2 24 | $97.9M | $14.6M | ||
| Q1 24 | $107.4M | $12.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $2.5M |
| Q4 25 | $192.2M | $85.8M | ||
| Q3 25 | $197.2M | $82.8M | ||
| Q2 25 | $199.5M | $78.7M | ||
| Q1 25 | $198.0M | $74.2M | ||
| Q4 24 | $173.9M | $71.9M | ||
| Q3 24 | $185.4M | $71.5M | ||
| Q2 24 | $187.6M | $68.0M | ||
| Q1 24 | $191.9M | $63.5M |
| Q4 25 | $298.6M | $105.6M | ||
| Q3 25 | $307.0M | $109.5M | ||
| Q2 25 | $312.0M | $98.3M | ||
| Q1 25 | $308.4M | $93.7M | ||
| Q4 24 | $296.2M | $90.5M | ||
| Q3 24 | $306.2M | $91.3M | ||
| Q2 24 | $308.9M | $84.9M | ||
| Q1 24 | $315.6M | $82.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.04× |
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 | $267.0K |
| Free Cash FlowOCF − Capex | $-1.9M | $-17.4M |
| FCF MarginFCF / Revenue | -2.8% | -31.5% |
| Capex IntensityCapex / Revenue | 1.4% | 31.9% |
| Cash ConversionOCF / Net Profit | — | 0.11× |
| TTM Free Cash FlowTrailing 4 quarters | $-13.7M | $-16.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-943.0K | $267.0K | ||
| Q3 25 | $2.2M | $6.9M | ||
| Q2 25 | $4.3M | $3.9M | ||
| Q1 25 | $-16.8M | $-150.0K | ||
| Q4 24 | $-3.0M | $-2.6M | ||
| Q3 24 | $7.0M | $7.5M | ||
| Q2 24 | $6.7M | $6.5M | ||
| Q1 24 | $-4.7M | $1.5M |
| Q4 25 | $-1.9M | $-17.4M | ||
| Q3 25 | $1.6M | $1.8M | ||
| Q2 25 | $3.7M | $1.6M | ||
| Q1 25 | $-17.1M | $-2.4M | ||
| Q4 24 | $-3.3M | $-3.8M | ||
| Q3 24 | $5.3M | $5.9M | ||
| Q2 24 | $6.6M | $5.1M | ||
| Q1 24 | $-6.1M | $-923.0K |
| Q4 25 | -2.8% | -31.5% | ||
| Q3 25 | 2.0% | 3.1% | ||
| Q2 25 | 4.6% | 3.0% | ||
| Q1 25 | -24.9% | -5.1% | ||
| Q4 24 | -5.0% | -8.2% | ||
| Q3 24 | 7.1% | 12.8% | ||
| Q2 24 | 8.9% | 10.4% | ||
| Q1 24 | -9.6% | -2.1% |
| Q4 25 | 1.4% | 31.9% | ||
| Q3 25 | 0.7% | 9.0% | ||
| Q2 25 | 0.9% | 4.3% | ||
| Q1 25 | 0.4% | 4.8% | ||
| Q4 24 | 0.5% | 2.7% | ||
| Q3 24 | 2.2% | 3.3% | ||
| Q2 24 | 0.1% | 2.9% | ||
| Q1 24 | 2.1% | 5.5% |
| Q4 25 | — | 0.11× | ||
| Q3 25 | — | 1.96× | ||
| Q2 25 | — | 0.92× | ||
| Q1 25 | — | -0.04× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.50× | ||
| Q2 24 | — | 1.73× | ||
| Q1 24 | — | 0.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INGN
| Other | $36.1M | 53% |
| Non Us | $32.5M | 47% |
LWAY
| Drinkable Kefirotherthan Pro Bugs | $47.8M | 86% |
| Cheese | $4.7M | 8% |
| Cream And Other | $1.7M | 3% |
| Other | $1.2M | 2% |
