NARI · Inari Medical, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $153.39M | $145.82M | $143.19M | - | $126.37M | $119.00M | $116.17M | - | $96.20M | $92.74M |
| Cost of Revenue | $19.85M | $19.99M | $18.89M | - | $14.48M | $13.84M | $13.74M | - | $11.06M | $10.35M |
| Gross Profit | $133.54M | $125.83M | $124.30M | - | $111.89M | $105.16M | $102.43M | - | $85.14M | $82.40M |
| R&D | $29.43M | $24.91M | $26.88M | - | $21.49M | $21.09M | $22.06M | - | $19.11M | $18.57M |
| SG&A | $108.27M | $114.15M | $103.06M | - | $88.28M | $85.59M | $85.70M | - | $75.83M | $73.16M |
| Total Operating Expenses | $147.11M | $148.27M | $141.48M | - | $109.78M | $106.67M | $107.76M | - | $94.94M | $91.72M |
| D&A | - | - | $3.86M | - | - | - | $1.35M | - | - | - |
| Operating Income | ($13.57M) | ($22.44M) | ($17.18M) | - | $2.11M | ($1.51M) | ($5.34M) | - | ($9.80M) | ($9.33M) |
| Interest Expense | $78.0K | $44.0K | $78.0K | - | $43.0K | $44.0K | $40.0K | - | $74.0K | $73.0K |
| Income Tax | $5.70M | $9.93M | $8.12M | - | $2.43M | $939.0K | $1.02M | - | $840.0K | $1.25M |
| Net Income | ($18.37M) | ($31.35M) | ($24.20M) | - | $3.16M | $2.08M | ($2.22M) | - | ($10.15M) | ($10.19M) |
| EPS - Basic | ($0.31) | ($0.54) | ($0.42) | - | $0.06 | $0.04 | ($0.04) | - | ($0.19) | ($0.19) |
| EPS - Diluted | ($0.31) | ($0.54) | ($0.42) | - | $0.05 | $0.04 | ($0.04) | - | ($0.19) | ($0.19) |
Balance Sheet
| Line item | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $41.14M | $70.13M | $66.71M | $38.60M | $89.18M | $57.84M | $56.56M | $60.22M | $83.53M | $79.72M |
| Accounts Receivable | $84.40M | $81.63M | $78.62M | $70.12M | $69.59M | $63.13M | $55.72M | $58.61M | $54.06M | $49.17M |
| Inventory | $55.21M | $49.36M | $44.65M | $42.90M | $40.23M | $38.98M | $36.50M | $32.58M | $29.67M | $26.67M |
| Accounts Payable | $15.52M | $16.38M | $12.03M | $10.58M | $10.09M | $7.24M | $7.35M | $7.66M | $6.04M | $4.75M |
| Current Assets | $263.39M | $249.35M | $233.31M | $235.56M | $469.06M | $444.62M | $425.61M | $422.90M | $410.57M | $411.34M |
| Total Assets | $697.24M | $672.93M | $661.78M | $674.24M | $548.84M | $524.97M | $506.53M | $504.15M | $487.82M | $484.26M |
| Current Liabilities | $148.78M | $138.26M | $86.04M | $76.34M | $66.07M | $58.24M | $48.34M | $56.17M | $42.34M | $40.98M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $262.48M | $249.12M | $214.55M | $209.32M | $96.69M | $89.32M | $79.80M | $87.15M | $72.72M | $70.48M |
| Stockholders' Equity | $434.76M | $423.81M | $447.23M | $464.91M | $452.14M | $435.64M | $426.74M | $417.00M | $415.10M | $413.78M |
| Retained Earnings | ($122.40M) | ($104.04M) | ($72.69M) | ($48.49M) | ($43.82M) | ($46.98M) | ($49.07M) | ($46.85M) | ($41.05M) | ($30.90M) |
Cash Flow
| Line item | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | ($12.29M) | - | - | - | ($2.01M) | - | - | - |
| Investing Cash Flow | - | - | $39.16M | - | - | - | ($4.04M) | - | - | - |
| Financing Cash Flow | - | - | $1.01M | - | - | - | $2.47M | - | - | - |
| CapEx | - | - | $1.25M | - | - | - | $964.0K | - | - | - |
| Free Cash Flow | - | - | ($13.54M) | - | - | - | ($2.98M) | - | - | - |
Ratios
| Metric | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 87.1% | 86.3% | 86.8% | - | 88.5% | 88.4% | 88.2% | - | 88.5% | 88.8% |
| Operating margin | -8.8% | -15.4% | -12.0% | - | 1.7% | -1.3% | -4.6% | - | -10.2% | -10.1% |
| EBITDA margin | - | - | -9.3% | - | - | - | -3.4% | - | - | - |
| Net margin | -12.0% | -21.5% | -16.9% | - | 2.5% | 1.8% | -1.9% | - | -10.6% | -11.0% |
| Free cash flow margin | - | - | -9.5% | - | - | - | -2.6% | - | - | - |
| FCF / Net income | - | - | 0.56 | - | - | - | 1.34 | - | - | - |
| R&D / Revenue | 19.2% | 17.1% | 18.8% | - | 17.0% | 17.7% | 19.0% | - | 19.9% | 20.0% |
| SG&A / Revenue | 70.6% | 78.3% | 72.0% | - | 69.9% | 71.9% | 73.8% | - | 78.8% | 78.9% |
| Effective tax rate | - | - | - | - | 43.4% | 31.1% | - | - | - | - |
| Return on assets | -2.6% | -4.7% | -3.7% | - | 0.6% | 0.4% | -0.4% | - | -2.1% | -2.1% |
| Return on equity | -4.2% | -7.4% | -5.4% | - | 0.7% | 0.5% | -0.5% | - | -2.4% | -2.5% |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.77 | 1.80 | 2.71 | 3.09 | 7.10 | 7.63 | 8.80 | 7.53 | 9.70 | 10.04 |
| Quick ratio | 1.40 | 1.45 | 2.19 | 2.52 | 6.49 | 6.97 | 8.05 | 6.95 | 9.00 | 9.39 |
| Cash ratio | 0.28 | 0.51 | 0.78 | 0.51 | 1.35 | 0.99 | 1.17 | 1.07 | 1.97 | 1.95 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -173.9x | -510.1x | -220.2x | - | 49.1x | -34.3x | -133.4x | - | -132.4x | -127.8x |
| Equity multiplier | 1.60 | 1.59 | 1.48 | 1.45 | 1.21 | 1.21 | 1.19 | 1.21 | 1.18 | 1.17 |
| Liabilities / Assets | 0.38 | 0.37 | 0.32 | 0.31 | 0.18 | 0.17 | 0.16 | 0.17 | 0.15 | 0.15 |
| Efficiency | ||||||||||
| Asset turnover | 0.22 | 0.22 | 0.22 | - | 0.23 | 0.23 | 0.23 | - | 0.20 | 0.19 |
| Inventory turnover | 0.36 | 0.41 | 0.42 | - | 0.36 | 0.36 | 0.38 | - | 0.37 | 0.39 |
| Days sales outstanding | 201d | 204d | 200d | - | 201d | 194d | 175d | - | 205d | 194d |
| Days inventory outstanding | 1015d | 901d | 863d | - | 1014d | 1028d | 970d | - | 979d | 941d |
| Days payable outstanding | 285d | 299d | 232d | - | 254d | 191d | 195d | - | 199d | 167d |
| Cash conversion cycle | 931d | 806d | 831d | - | 961d | 1031d | 949d | - | 985d | 967d |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 21.4% | 22.5% | 23.3% | - | 31.4% | 28.3% | 33.9% | - | 31.9% | 46.2% |
| Revenue CAGR (3y) | 28.1% | 32.0% | 74.5% | - | 48.3% | 127.8% | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 19.4% | 19.7% | 21.4% | - | 31.4% | 27.6% | 33.4% | - | 29.2% | 40.5% |
| Operating income growth (YoY) | - | -1386.4% | -221.8% | - | - | 83.8% | -73.2% | - | -259.3% | - |
| Net income growth (YoY) | - | - | -991.2% | - | - | - | 29.1% | - | -262.1% | - |
| EPS growth (YoY) | - | - | -950.0% | - | - | - | 33.3% | - | -216.7% | - |
| EPS CAGR (3y) | - | - | - | - | -25.3% | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | -354.8% | - | - | - | 74.9% | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -3.8% | -2.7% | 4.8% | 11.5% | 8.9% | 5.3% | 1.9% | 74.3% | 77.1% | 86.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2023-12-31.
Product / service
$493.63M totalVenous Thromboembolism VTE$476.27M · 96.5%
Emerging Therapies$17.36M · 3.5%
Geographic
$493.63M totalUS$469.86M · 95.2%
Non Us$23.77M · 4.8%
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing Inari Medical against the 5 most active filers in the same SIC group.