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Align Technology vs Inogen: revenue, profit, margins and growth compared

Align Technology brought in $4B of revenue in fiscal 2025, Inogen $348.7M in fiscal 2025. Revenue changed by +0.9% at Align Technology and +3.9% at Inogen on the year before, so Inogen grew faster. Align Technology kept 10.2% of its revenue as net profit, Inogen -6.5%. Free cash flow was $490.8M at Align Technology and -$13.7M at Inogen.

Side by side, latest fiscal year

ALGNINGN
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4B$348.7M
Revenue growth+0.9%+3.9%
Net income$410.4M-$22.7M
Net margin10.2%-6.5%
Free cash flow$490.8M-$13.7M
Free cash flow margin12.2%-3.9%
Earnings per share (diluted)$5.65-$0.86
Cash$1.1B$103.7M
Debtn/an/a
Price to earnings26.0n/a
Market value$10.4B$142.2M
Dividend yieldn/an/a
Rank by revenue in sector#71 of 523 · Health care#213 of 523 · Health care

Over the years

Revenue
ALGN FY2018: $2BALGN FY2019: $2.4BALGN FY2020: $2.5BALGN FY2021: $4BALGN FY2022: $3.7BALGN FY2023: $3.9BALGN FY2024: $4BALGN FY2025: $4BINGN FY2018: $358.1MINGN FY2019: $361.9MINGN FY2020: $308.5MINGN FY2021: $358MINGN FY2022: $377.2MINGN FY2023: $315.7MINGN FY2024: $335.7MINGN FY2025: $348.7MFY18FY19FY20FY21FY22FY23FY24FY25
ALGN $4BINGN $348.7M
Net income
ALGN FY2018: $400.2MALGN FY2019: $442.8MALGN FY2020: $1.8BALGN FY2021: $772MALGN FY2022: $361.6MALGN FY2023: $445.1MALGN FY2024: $421.4MALGN FY2025: $410.4MINGN FY2018: $51.8MINGN FY2019: $21MINGN FY2020: -$5.8MINGN FY2021: -$6.3MINGN FY2022: -$83.8MINGN FY2023: -$102.4MINGN FY2024: -$35.9MINGN FY2025: -$22.7MFY18FY19FY20FY21FY22FY23FY24FY25
ALGN $410.4MINGN -$22.7M
Net margin
ALGN FY2018: 20.4%ALGN FY2019: 18.4%ALGN FY2020: 71.8%ALGN FY2021: 19.5%ALGN FY2022: 9.7%ALGN FY2023: 11.5%ALGN FY2024: 10.5%ALGN FY2025: 10.2%INGN FY2018: 14.5%INGN FY2019: 5.8%INGN FY2020: -1.9%INGN FY2021: -1.8%INGN FY2022: -22.2%INGN FY2023: -32.5%INGN FY2024: -10.7%INGN FY2025: -6.5%FY18FY19FY20FY21FY22FY23FY24FY25
ALGN 10.2%INGN -6.5%
Revenue growth
ALGN FY2019: +22.4%ALGN FY2020: +2.7%ALGN FY2021: +59.9%ALGN FY2022: -5.5%ALGN FY2023: +3.4%ALGN FY2024: +3.5%ALGN FY2025: +0.9%INGN FY2019: +1.1%INGN FY2020: -14.8%INGN FY2021: +16.1%INGN FY2022: +5.4%INGN FY2023: -16.3%INGN FY2024: +6.4%INGN FY2025: +3.9%FY19FY20FY21FY22FY23FY24FY25
ALGN +0.9%INGN +3.9%
Free cash flow
ALGN FY2018: $331.4MALGN FY2019: $597.6MALGN FY2020: $507.3MALGN FY2021: $771.4MALGN FY2022: $276.8MALGN FY2023: $608.1MALGN FY2024: $622.7MALGN FY2025: $490.8MINGN FY2018: $51.9MINGN FY2019: $37.5MINGN FY2020: $32.6MINGN FY2021: $18.2MINGN FY2022: -$40.9MINGN FY2023: -$8.5MINGN FY2024: $2.6MINGN FY2025: -$13.7MFY18FY19FY20FY21FY22FY23FY24FY25
ALGN $490.8MINGN -$13.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Align Technology and Inogen

Which is bigger by revenue, Align Technology or Inogen?

Align Technology is bigger by revenue: $4B in fiscal 2025, against $348.7M for Inogen in fiscal 2025.

Which keeps more of its revenue as profit, Align Technology or Inogen?

Align Technology had a net margin of 10.2% in fiscal 2025; Inogen had -6.5% in fiscal 2025.

Which grew revenue faster, Align Technology or Inogen?

In their latest fiscal years revenue changed by +0.9% at Align Technology and +3.9% at Inogen.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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