Inari Medical, Inc. Stock Research

Market Summary

USD62.45+1.28

Market Closed

2.09%

NARI Alerts

4 major insider sales recently.
Big jump in Revenue (Y/Y)
Big fall in earnings (Y/Y)
Losses in recent quarter

NARI Stock Price

NARI RSI Chart

NARI Valuation

Market Cap

3.3B

Price/Earnings (Trailing)

-114.11

Price/Sales (Trailing)

8.71

EV/EBITDA

-154.56

Price/Free Cashflow

-139.6

NARI Price/Sales (Trailing)

NARI Profitability

EBT Margin

-6.83%

Return on Equity

-7.02%

Return on Assets

-5.81%

Free Cashflow Yield

-0.72%

NARI Fundamentals

NARI Revenue

Revenue (TTM)

383.5M

Revenue Y/Y

29.5%

Revenue Q/Q

12.02%

NARI Earnings

Earnings (TTM)

-29.3M

Earnings Y/Y

-623.76%

Earnings Q/Q

42.89%

Price Action

52 Week Range

50.5095.39

(Low)(High)

Last 7 days

-4.3%

Last 30 days

8.5%

Last 90 days

-2.5%

Trailing 12 Months

-29.7%

NARI Financial Health

Current Ratio

7.53

NARI Investor Care

Shares Dilution (1Y)

7.37%

Diluted EPS (TTM)

-0.55

Peers (Alternatives to Inari Medical)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
AAPL	2.5T	387.5B	7.89%	-9.00%	26.24	6.44	2.44%	-5.35%
MSFT	2.0T	204.1B	10.90%	-8.33%	30.39	10.04	10.38%	-5.25%
GOOG	1.3T	282.8B	15.34%	-27.18%	21.72	4.6	9.78%	-21.12%
AMZN	995.9B	514.0B	4.86%	-40.50%	-365.88	1.94	9.40%	-108.16%
MID-CAP
NYMT	3.4B	258.4M	-7.02%	-24.34%	-11.54	13.34	24.91%	-254.56%
JBLU	2.3B	9.2B	-16.32%	-53.16%	-6.25	0.25	51.67%	-98.90%
SMALL-CAP
PLAY	1.7B	1.7B	-10.56%	-16.75%	14.14	1	61.79%	371.82%
TLRY	1.6B	602.5M	-7.75%	-62.41%	-2.78	2.67	18.18%	-18.59%
MFA	1.0B	482.4M	-10.53%	-34.93%	-4.33	2.08	33.15%	-170.42%
BYND	1000.0M	418.9M	-15.70%	-67.27%	-2.73	2.39	-9.85%	-101.06%
CGC	879.9M	478.9M	-19.31%	-78.37%	-0.28	1.84	-31.50%	-634.70%
NKLA	759.1M	50.8M	-31.98%	-85.06%	-0.97	14.94	1229.98%	-13.59%
GPRO	746.4M	1.1B	-5.84%	-42.17%	25.87	0.68	-5.82%	-92.23%
INO	214.7M	10.3M	-28.62%	-74.83%	-0.77	20.92	478.23%	7.85%

Financials for Inari Medical

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	6.8%	383,471,000	358,918,000	335,630,000	306,339,000	276,984,000
Gross Profit	6.2%	338,965,000	319,260,000	299,996,000	276,238,000	252,227,000
Operating Expenses	8.0%	367,064,000	339,722,000	313,387,000	276,189,000	241,383,000
S&GA Expenses	9.6%	292,843,000	267,187,000	247,458,000	217,199,000	190,365,000
R&D Expenses	2.3%	74,221,000	72,535,000	65,929,000	58,990,000	51,018,000
EBITDA	-41.0%	-21,218,000	-15,045,000	-8,826,000	3,672,000	-
EBITDA Margin	-32.0%	-0.06	-0.04	-0.03	0.01	-
Earnings Before Taxes	-32.9%	-26,185,000	-19,696,000	-13,126,000	-111,000	10,685,000
EBT Margin	-24.4%	-0.07	-0.05	-0.04	0.00	-
Interest Expenses	-0.3%	294,000	295,000	294,000	295,000	295,000
Net Income	-30.9%	-29,267,000	-22,362,000	-15,013,000	-758,000	9,840,000
Net Income Margin	-22.5%	-0.08	-0.06	-0.04	0.00	-
Free Cahsflow	-13.3%	-23,923,000	-21,111,000	-16,066,000	-7,505,000	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	3.3%	504	488	484	484	312
Current Assets	3.0%	423	411	411	413	245
Cash Equivalents	-27.9%	60.00	84.00	80.00	187	93.00
Inventory	9.8%	33.00	30.00	27.00	24.00	21.00
Net PPE	2.2%	22.00	21.00	20.00	18.00	16.00
Liabilities	19.8%	87.00	73.00	70.00	65.00	72.00
Current Liabilities	32.7%	56.00	42.00	41.00	36.00	43.00
Shareholder's Equity	0.5%	417	415	414	419	239
Retained Earnings	-14.1%	-46.85	-41.05	-30.90	-20.71	-17.58
Additional Paid-In Capital	1.3%	463	457	446	440	257
Accumulated Depreciation	16.1%	8.00	7.00	6.00	5.00	-
Shares Outstanding	0.8%	54.00	54.00	53.00	53.00	50.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-36.7%	-13.97	-10.22	-2.74	8.00	25.00
Share Based Compensation	12.1%	29.00	26.00	31.00	28.00	25.00
Cashflow From Investing	-18.6%	-195	-164	-185	-102	-51.02
Cashflow From Financing	-0.6%	177	178	177	178	4.00

Risks for NARI

What is the probability of a big loss on NARI?

88%

Probability that Inari Medical stock will be more than 20% underwater in next one year

65.3%

Probability that Inari Medical stock will be more than 30% underwater in next one year.

36%

Probability that Inari Medical stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does NARI drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Inari Medical was unfortunately bought at previous high price.

Drawdowns

Returns for NARI

Cumulative Returns on NARI

Which funds bought or sold NARI recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-23	MetLife Investment Management, LLC	reduced	-2.33	-589,619	3,465,800	0.03%
2023-03-17	American Portfolios Advisors	reduced	-18.08	-9,618	67,483	-%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-77.71	-2,513,100	608,905	-%
2023-03-06	Rockefeller Capital Management L.P.	unchanged	-	-	-	-%
2023-02-28	Voya Investment Management LLC	reduced	-4.87	-544,429	2,702,570	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	added	21.78	289,000	4,707,000	0.05%
2023-02-21	MACQUARIE GROUP LTD	reduced	-28.21	-68,318,000	115,352,000	0.14%
2023-02-21	NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC	reduced	-35.6	-219,950	284,050	0.01%
2023-02-17	TRUIST FINANCIAL CORP	sold off	-100	-234,000	-	-%
2023-02-16	HARBOUR INVESTMENTS, INC.	unchanged	-	-746	15,254	-%

Latest Funds Activity

Are funds buying NARI calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own NARI

No. of Funds

Inari Medical News

Schedule 13G FIlings of Inari Medical

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 24, 2023	point72 asset management, l.p.	4.9%	2,611,241	SC 13G
Feb 14, 2023	macquarie group ltd	3.38%	1,814,852	SC 13G/A
Feb 14, 2023	alliancebernstein l.p.	4.1%	2,183,673	SC 13G/A
Feb 13, 2023	capital international investors	0.1%	72,099	SC 13G/A
Feb 13, 2023	milder donald b	6.0%	3,225,220	SC 13G/A
Feb 10, 2023	cvf, llc	4.8%	2,591,665	SC 13G/A
Feb 09, 2023	vanguard group inc	8.07%	4,331,429	SC 13G/A
Feb 06, 2023	wellington management group llp	9.20%	4,938,574	SC 13G/A
Jan 26, 2023	blackrock inc.	10.6%	5,671,100	SC 13G/A
Jan 20, 2023	blackrock inc.	10.6%	5,671,100	SC 13G/A

NARI Fair Value

Inari Medical fair value in different scenarios

The table shows the Fair Value estimates for Inari Medical for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	11.86 -81.01%	14.93 -76.09%	28.86 -53.79%	47.63 -23.73%	80.09 28.25%
Current Inflation	10.97 -82.43%	13.60 -78.22%	25.54 -59.10%	41.38 -33.74%	68.77 10.12%
Very High Inflation	9.89 -84.16%	11.99 -80.80%	21.63 -65.36%	34.15 -45.32%	55.78 -10.68%

Historical Inari Medical Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Inari Medical

View All Filings

Date Filed	Form Type	Document
Mar 21, 2023	4	Insider Trading
Mar 17, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading
Feb 27, 2023	S-8	Employee Benefits Plan
Feb 27, 2023	8-K	Current Report
Feb 27, 2023	10-K	Annual Report

Latest Insider Trading transactions for NARI

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-20	Hykes Andrew	sold	-578,610	64.29	-9,000	president and ceo
2023-03-15	Hoffman William	acquired	10,700	0.428	25,000	-
2023-03-15	Hoffman William	sold	-1,580,870	63.2348	-25,000	-
2023-03-14	Hoffman William	sold	-300,500	60.1	-5,000	-
2023-03-13	Hill, Mitch C.	acquired	2,970	0.457	6,500	chief financial officer
2023-03-13	Hill, Mitch C.	sold	-747,585	58.6341	-12,750	chief financial officer
2023-03-12	Hoffman William	acquired	-	-	961,350	-
2023-03-12	Tu Thomas	acquired	-	-	292,584	chief medical officer
2023-03-12	Hill, Mitch C.	acquired	-	-	125,393	chief financial officer
2023-03-12	Hykes Andrew	acquired	-	-	430,517	president and ceo

About Inari Medical

NARI Income Statement

2022-12-31

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 383,471	$ 276,984	$ 139,670
Cost of goods sold	44,506	24,757	13,106
Gross profit	338,965	252,227	126,564
Operating expenses
Research and development	74,221	51,018	18,399
Selling, general and administrative	292,843	190,365	89,746
Total operating expenses	367,064	241,383	108,145
(Loss) income from operations	(28,099)	10,844	18,419
Other income (expense)
Interest income	1,852	154	484
Interest expense	(294)	(295)	(1,135)
Change in fair value of warrant liabilities	0	0	(3,317)
Other income (expense)	356	(18)	(662)
Total other income (expense)	1,914	(159)	(4,630)
(Loss) income before income taxes	(26,185)	10,685	13,789
Provision for income taxes	3,082	845	0
Net (loss) income	(29,267)	9,840	13,789
Other comprehensive income (loss)
Foreign currency translation adjustments	(592)	(379)	0
Unrealized gain (loss) on available-for-sale debt securities	1,843	(27)	4
Total other comprehensive income (loss)	1,251	(406)	4
Comprehensive (loss) income	$ (28,016)	$ 9,434	$ 13,793
Net (loss) income per share
Basic	$ (0.55)	$ 0.20	$ 0.43
Diluted	$ (0.55)	$ 0.18	$ 0.27
Weighted average common shares used to compute net (loss) income per share
Basic	52,837,674	49,815,914	32,033,827
Diluted	52,837,674	55,594,159	51,554,996

NARI Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 60,222	$ 92,752
Short-term investments in debt securities	266,179	83,348
Accounts receivable, net	58,611	42,351
Inventories, net	32,581	21,053
Prepaid expenses and other current assets	5,312	5,694
Total current assets	422,905	245,198
Property and equipment, net	21,655	16,471
Operating lease right-of-use assets	50,703	44,909
Deposits and other assets	8,889	981
Long-term investments in debt securities	0	3,983
Total assets	504,152	311,542
Current liabilities
Accounts payable	7,659	6,541
Payroll-related accruals	38,955	24,433
Accrued expenses and other current liabilities	8,249	10,737
Operating lease liability, current portion	1,311	802
Total current liabilities	56,174	42,513
Operating lease liabilities, noncurrent portion	30,976	28,404
Other long-term liability	0	1,416
Total liabilities	87,150	72,333
Commitments and contingencies (Note 7)
Stockholders' equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued and outstanding as of December 31, 2022 and 2021	0	0
Common stock, $0.001 par value, 300,000,000 shares authorized as of December 31, 2022 and 2021; 54,021,656 and 50,313,452 shares issued and outstanding as of December 31, 2022 and 2021, respectively	54	50
Additional paid in capital	462,949	257,144
Accumulated other comprehensive income (loss)	849	(402)
Accumulated deficit	(46,850)	(17,583)
Total stockholders' equity	417,002	239,209
Total liabilities and stockholders' equity	$ 504,152	$ 311,542