Inari Medical, Inc. (NARI) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.12. This compares to earnings of $0.05 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -8.33%. A quarter ago, it was expected that this company would post a loss of $0.16 per share when it actually produced a loss of $0.41, delivering a surprise of -156.25%. Over the last four quarters, the company ...

Core Viewpoint - Inari Medical, Inc. reported strong revenue growth in Q3 2024, driven by expansion in sales territories and product adoption, despite experiencing operating losses. Financial Performance - Revenue for Q3 2024 was $153.4 million, representing a 21.4% increase from $126.4 million in Q3 2023 [4][20]. - GAAP operating loss was $13.6 million in Q3 2024, compared to a GAAP operating income of $2.1 million in Q3 2023 [7]. - Non-GAAP operating loss was $0.4 million in Q3 2024, down from a non-GAAP operating income of $4.8 million in Q3 2023 [8]. - Net loss for Q3 2024 was $18.4 million, with a net loss per share of $0.31, compared to a net income of $3.2 million and a net income per share of $0.06 in the same period last year [9]. Business Highlights - The company has received acceptance for the PEERLESS study to be presented at the 2024 Transcatheter Cardiovascular Therapeutics (TCT) Annual Scientific Symposium [2]. - Inari plans to launch its Artix product following FDA clearance and expand its offerings into Japan and China [3]. Operating Expenses - Operating expenses for Q3 2024 were $147.1 million, up from $109.8 million in Q3 2023, primarily due to increased personnel-related expenses and professional fees [6]. - Gross profit was $133.5 million in Q3 2024, with a gross margin of 87.1%, down from 88.5% in Q3 2023 [5]. Guidance and Outlook - Inari raised its full-year 2024 revenue guidance to between $601.5 million and $604.5 million, reflecting a growth of approximately 21.9% to 22.5% over 2023 [10]. - The company anticipates reaching sustained operating profitability in the first half of 2025 [10].

ALISO VIEJO, Calif., Oct. 21, 2024 /PRNewswire/ -- Okami Medical today announced the closing of a $32.5M financing led by new investor Vensana Capital and joined by existing investors including U.S. Venture Partners, members of Okami's board of directors, and other medical device industry veterans. Okami was launched by medical device incubator Inceptus Medical, whose principals previously founded other category-defining vascular companies including Inari Medical, Sequent Medical, and MicroVention. The fina ...

The market expects Inari Medical, Inc. (NARI) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to b ...

IRVINE, Calif., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Inari Medical, Inc. (NASDAQ: NARI) ("Inari"), a medical device company with a mission to treat and transform the lives of patients suffering from venous and other diseases, today announced that it will host an analyst and investor meeting to discuss the PEERLESS study following its presentation at the Late-Breaking Clinical Trial Sessions at the 2024 Transcatheter Cardiovascular Therapeutics (TCT) Annual Scientific Symposium in Washington, D.C. The analyst a ...

Core Viewpoint - Inari Medical, Inc. is set to release its third quarter 2024 financial results on October 28, 2024, and will host a conference call to discuss these results and recent highlights [1]. Group 1: Financial Results Announcement - The financial results for the third quarter of 2024 will be released on October 28, 2024 [1]. - A conference call and webcast will take place at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time to discuss the financial results [1]. Group 2: Accessing the Earnings Call - Interested parties can access the live earnings call via telephone, with specific numbers for domestic (844-825-9789) and international callers (412-317-5180) [2]. - The live webinar can be accessed through the Events Section of Inari's investor relations website, and a replay will be available shortly after the call [2]. Group 3: Company Overview - Inari Medical is dedicated to improving lives through innovative solutions for unmet and underserved health needs, particularly in venous diseases [3]. - The company aims to establish its treatments as the standard of care for conditions such as venous thromboembolism and chronic venous disease [3].

Shares of Inari Medical Inc (NARI, Financial) surged 3.22% in mid-day trading on Oct 2. The stock reached an intraday high of $42.21, before settling at $41.94, up from its previous close of $40.63. This places NARI 39.57% below its 52-week high of $69.40 and 14.18% above its 52-week low of $36.73. Trading volume was 262,215 shares, 30.9% of the average daily volume of 847,252. Wall Street Analysts Forecast Based on the one-year price targets offered by 14 analysts, the average target price for Inari Medica ...

Inari Medical, Inc. (NARI) is well-poised for growth on the back of a huge market opportunity for its products and its commitment to understanding the venous system. However, its dependency on the adoption of products is concerning. Shares of this Zacks Rank #3 (Hold) company have lost 29.2% year to date against the industry's 9.2% growth. The S&P 500 Index has risen 16.3% in the same time frame. NARI, with a market capitalization of $2.63 billion, is a commercial-stage medical device company. It seeks to d ...

IRVINE, Calif., Aug. 29, 2024 (GLOBE NEWSWIRE) -- Inari Medical, Inc. (NASDAQ: NARI) ("Inari"), a medical device company with a mission to treat and transform the lives of patients suffering from venous and other diseases, announced today that data from the PEERLESS trial will be presented by Dr. Wissam Jaber, Professor of Medicine at Emory University School of Medicine, during the Late-Breaking Clinical Trial Sessions at the 2024 Transcatheter Cardiovascular Therapeutics (TCT) Annual Scientific Symposium i ...

Company Updates - Inari Medical has announced critical updates to the instructions for using its ClotTriever XL Catheter, following a serious FDA recall due to reported adverse events, including injuries and deaths [1][4] - The updated instructions include warnings and procedural guidelines to enhance patient safety, specifically advising against pulling the catheter through certain veins and recommending the use of a clot entrapment device [2][3] - A voluntary field notice has been issued to provide updated procedural guidance for physicians, which is not related to any device defect and is expected to have no impact on revenues [3] Significance of Recall - The recall is significant as it addresses severe safety risks associated with the ClotTriever XL Catheter, aiming to prevent serious health consequences, including potential death, particularly in patients with complex clot scenarios [4] - There have been four reported injuries and six deaths linked to improper usage, highlighting the necessity for healthcare providers to strictly follow the revised guidelines [4][5] Industry Prospects - The global thrombectomy devices market was valued at $1.52 billion in 2023 and is projected to reach $3.09 billion by 2033, with a compound annual growth rate (CAGR) of 7.33% [6] - The growth is driven by the critical role of these devices in restoring blood flow and preventing life-threatening conditions such as stroke and pulmonary embolism [7] Price Performance - Inari Medical's shares have declined by 33.2% this year, contrasting with the industry's growth of 9.7% and the S&P 500's rise of 18.2% during the same period [8]