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Side-by-side financial comparison of Inogen Inc (INGN) and Sanara MedTech Inc. (SMTI). Click either name above to swap in a different company.
Inogen Inc is the larger business by last-quarter revenue ($68.6M vs $27.5M, roughly 2.5× Sanara MedTech Inc.). On growth, Sanara MedTech Inc. posted the faster year-over-year revenue change (4.6% vs 3.4%). Sanara MedTech Inc. produced more free cash flow last quarter ($3.9M vs $-1.9M). Over the past eight quarters, Sanara MedTech Inc.'s revenue compounded faster (21.8% 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.
Sanara MedTech Inc. is a US-based medical technology company that develops, manufactures, and distributes innovative surgical, wound care, and post-acute rehabilitation products. It mainly serves healthcare providers, hospitals, and long-term care facilities across North America, with a portfolio of FDA-cleared solutions designed to improve patient outcomes and lower clinical care operational costs.
INGN vs SMTI — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $68.6M | $27.5M |
| Net Profit | — | $-1.6M |
| Gross Margin | 51.4% | 93.2% |
| Operating Margin | -13.6% | 23.5% |
| Net Margin | — | -5.9% |
| Revenue YoY | 3.4% | 4.6% |
| Net Profit YoY | — | 5.3% |
| EPS (diluted) | $-0.26 | $-0.32 |
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 | $27.5M | ||
| Q3 25 | $79.1M | $26.3M | ||
| Q2 25 | $79.2M | $25.8M | ||
| Q1 25 | $68.5M | $23.4M | ||
| Q4 24 | $66.3M | $26.3M | ||
| Q3 24 | $74.9M | $21.7M | ||
| Q2 24 | $74.4M | $20.2M | ||
| Q1 24 | $63.1M | $18.5M |
| Q4 25 | — | $-1.6M | ||
| Q3 25 | $-5.3M | $-30.4M | ||
| Q2 25 | $-4.2M | $-2.0M | ||
| Q1 25 | $-6.2M | $-3.5M | ||
| Q4 24 | — | $-1.7M | ||
| Q3 24 | $-6.0M | $-2.9M | ||
| Q2 24 | $-5.6M | $-3.5M | ||
| Q1 24 | $-14.6M | $-1.8M |
| Q4 25 | 51.4% | 93.2% | ||
| Q3 25 | 52.2% | 92.9% | ||
| Q2 25 | 52.2% | 92.5% | ||
| Q1 25 | 53.1% | 92.2% | ||
| Q4 24 | 54.7% | 91.4% | ||
| Q3 24 | 55.2% | 90.8% | ||
| Q2 24 | 57.4% | 90.0% | ||
| Q1 24 | 54.5% | 89.8% |
| Q4 25 | -13.6% | 23.5% | ||
| Q3 25 | -9.0% | 11.2% | ||
| Q2 25 | -7.7% | -0.1% | ||
| Q1 25 | -11.2% | -8.9% | ||
| Q4 24 | -17.2% | 18.6% | ||
| Q3 24 | -10.4% | 3.6% | ||
| Q2 24 | -9.5% | -14.3% | ||
| Q1 24 | -25.8% | -8.3% |
| Q4 25 | — | -5.9% | ||
| Q3 25 | -6.7% | -115.5% | ||
| Q2 25 | -5.2% | -7.8% | ||
| Q1 25 | -9.0% | -15.1% | ||
| Q4 24 | — | -6.5% | ||
| Q3 24 | -8.0% | -13.2% | ||
| Q2 24 | -7.5% | -17.4% | ||
| Q1 24 | -23.1% | -9.5% |
| Q4 25 | $-0.26 | $-0.32 | ||
| Q3 25 | $-0.20 | $-3.40 | ||
| Q2 25 | $-0.15 | $-0.23 | ||
| Q1 25 | $-0.25 | $-0.41 | ||
| Q4 24 | $-0.41 | $-0.18 | ||
| Q3 24 | $-0.25 | $-0.34 | ||
| Q2 24 | $-0.24 | $-0.41 | ||
| Q1 24 | $-0.62 | $-0.21 |
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 | $16.6M |
| Total DebtLower is stronger | — | $46.0M |
| Stockholders' EquityBook value | $192.2M | $5.9M |
| Total Assets | $298.6M | $72.9M |
| Debt / EquityLower = less leverage | — | 7.74× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $103.7M | $16.6M | ||
| Q3 25 | $106.5M | $14.9M | ||
| Q2 25 | $103.7M | $17.0M | ||
| Q1 25 | $118.9M | $20.7M | ||
| Q4 24 | $113.8M | $15.9M | ||
| Q3 24 | $105.7M | $16.3M | ||
| Q2 24 | $97.9M | $6.2M | ||
| Q1 24 | $107.4M | $2.8M |
| Q4 25 | — | $46.0M | ||
| Q3 25 | — | $45.1M | ||
| Q2 25 | — | $44.2M | ||
| Q1 25 | — | $43.4M | ||
| Q4 24 | — | $30.7M | ||
| Q3 24 | — | $30.1M | ||
| Q2 24 | — | $14.4M | ||
| Q1 24 | — | $9.7M |
| Q4 25 | $192.2M | $5.9M | ||
| Q3 25 | $197.2M | $6.1M | ||
| Q2 25 | $199.5M | $35.4M | ||
| Q1 25 | $198.0M | $36.7M | ||
| Q4 24 | $173.9M | $39.4M | ||
| Q3 24 | $185.4M | $39.8M | ||
| Q2 24 | $187.6M | $41.7M | ||
| Q1 24 | $191.9M | $43.3M |
| Q4 25 | $298.6M | $72.9M | ||
| Q3 25 | $307.0M | $71.1M | ||
| Q2 25 | $312.0M | $98.8M | ||
| Q1 25 | $308.4M | $96.4M | ||
| Q4 24 | $296.2M | $88.1M | ||
| Q3 24 | $306.2M | $88.5M | ||
| Q2 24 | $308.9M | $73.4M | ||
| Q1 24 | $315.6M | $70.9M |
| Q4 25 | — | 7.74× | ||
| Q3 25 | — | 7.33× | ||
| Q2 25 | — | 1.25× | ||
| Q1 25 | — | 1.18× | ||
| Q4 24 | — | 0.78× | ||
| Q3 24 | — | 0.76× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 0.22× |
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 | $3.9M |
| Free Cash FlowOCF − Capex | $-1.9M | $3.9M |
| FCF MarginFCF / Revenue | -2.8% | 14.0% |
| Capex IntensityCapex / Revenue | 1.4% | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-13.7M | $2.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-943.0K | $3.9M | ||
| Q3 25 | $2.2M | $2.2M | ||
| Q2 25 | $4.3M | $2.7M | ||
| Q1 25 | $-16.8M | $-2.0M | ||
| Q4 24 | $-3.0M | $932.0K | ||
| Q3 24 | $7.0M | $2.1M | ||
| Q2 24 | $6.7M | $-1.4M | ||
| Q1 24 | $-4.7M | $-1.6M |
| Q4 25 | $-1.9M | $3.9M | ||
| Q3 25 | $1.6M | $1.1M | ||
| Q2 25 | $3.7M | $902.7K | ||
| Q1 25 | $-17.1M | $-3.7M | ||
| Q4 24 | $-3.3M | $859.9K | ||
| Q3 24 | $5.3M | $2.0M | ||
| Q2 24 | $6.6M | $-1.5M | ||
| Q1 24 | $-6.1M | $-1.7M |
| Q4 25 | -2.8% | 14.0% | ||
| Q3 25 | 2.0% | 4.2% | ||
| Q2 25 | 4.6% | 3.5% | ||
| Q1 25 | -24.9% | -15.9% | ||
| Q4 24 | -5.0% | 3.3% | ||
| Q3 24 | 7.1% | 9.4% | ||
| Q2 24 | 8.9% | -7.3% | ||
| Q1 24 | -9.6% | -9.0% |
| Q4 25 | 1.4% | 0.3% | ||
| Q3 25 | 0.7% | 4.0% | ||
| Q2 25 | 0.9% | 6.8% | ||
| Q1 25 | 0.4% | 7.4% | ||
| Q4 24 | 0.5% | 0.3% | ||
| Q3 24 | 2.2% | 0.0% | ||
| Q2 24 | 0.1% | 0.3% | ||
| Q1 24 | 2.1% | 0.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INGN
Segment breakdown not available.
SMTI
| Soft Tissue Repair Products | $24.7M | 90% |
| Bone Fusion Products | $2.8M | 10% |
