Inari Medical Delivers Strong Q4 Results, Reaffirms Revenue Guidance for 2023.

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Inari Medical ($NASDAQ:NARI) has reported strong results for their fourth quarter of 2023 with GAAP earnings per share of -$0.11, a substantial beat of the consensus estimate by $0.06. This strong financial performance was backed up by revenue of $107.8M, also exceeding the consensus by $2.95M. For the full year 2023, Inari Medical has reaffirmed their revenue guidance range of $470 million to $480 million, with the consensus at $471.63M. This impressive performance is attributed to the company’s ongoing efforts to develop groundbreaking medical technologies in the field of vascular access and ablation. In particular, Inari Medical’s innovative Nascath® catheter has found widespread success in both the healthcare and research communities.

Combined with their commitment to delivering products that are both reliable and cost-effective, Inari Medical’s strong Q4 results demonstrate their commitment to creating value for shareholders and customers alike. The company’s strength is further evidenced by the fact that they are continuing to deliver a consistent and reliable revenue stream, with the guidance from the previous year being met. This continued success signifies Inari Medical’s dedication to the development of their products and their ability to consistently meet customer needs and expectations. As Inari Medical continues to evolve and innovate in their space, investors can expect revenue growth and more positive earnings surprises in the future.

Stock Price

Inari Medical, a medical device and life sciences company, delivered strong Q4 results on Monday and reaffirmed its revenue guidance for 2023. This news came as positive surprise to investors, as the company opened at $56.6 and closed at $57.4, up by 1.8% from its previous closing price of 56.4. Overall, Inari Medical’s results were driven by strong sales in its core business segments and an increase in demand for its innovative products and services. The company also demonstrated a continuing trend of delivering a solid bottom line.

On the back of these impressive results and positive outlook, investor confidence was further bolstered, leading to the share price hike. Inari Medical’s strong results are a testament to the company’s agility and innovative approach to finding market opportunities in difficult times. All in all, Inari Medical’s Q4 results and reaffirmation of revenue guidance for 2023 suggests that despite the current challenging environment, the company is on track for continued success in the coming years. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Inari Medical. More…

Cash Flow Snapshot

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Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Inari Medical. More…

Key Ratios Snapshot

Some of the financial key ratios for Inari Medical are shown below. More…

Analysis

At GoodWhale, we understand that monitoring financials and assessing risk can be a daunting task for investors. That’s why we’ve conducted an analysis of INARI MEDICAL‘s financials to make it easier for you to make decisions. Based on our assessment, INARI MEDICAL is a high risk investment in terms of financial and business aspects. We’ve identified one risk warning in their cashflow statement — register with us to find out more! At GoodWhale, we always strive to provide the most up-to-date data and insights to help our users make informed decisions. Invest with confidence when you use our platform. More…

Peers

Its competitors are OncoSil Medical Ltd, ShockWave Medical Inc, and Vycor Medical Inc.

– OncoSil Medical Ltd ($ASX:OSL)

OncoSil Medical Ltd is a medical device company that develops, manufactures and markets products for the treatment of cancer. The company has a market cap of 47.58M as of 2022 and a Return on Equity of -82.6%. OncoSil Medical’s products are designed to target and destroy cancer cells while sparing healthy tissue. The company’s lead product, OncoSil, is a radioactive silicone particle that is injected into solid tumors. OncoSil has been shown to be effective in the treatment of pancreatic, brain, and ovarian cancer.

– ShockWave Medical Inc ($NASDAQ:SWAV)

As of 2022, ShockWave Medical Inc has a market cap of 10.19B and a Return on Equity of 12.48%. The company is a medical device company that uses shockwave technology to treat cardiovascular diseases. The company’s products are sold in over 30 countries and are backed by over 100 patents.

– Vycor Medical Inc ($OTCPK:VYCO)

Vycor Medical Inc is a publicly traded company with a market capitalization of 3.1 million as of 2022. The company has a return on equity of 6.36%, which is relatively high compared to other companies in the same industry. Vycor Medical Inc is a medical device company that specializes in the development and commercialization of minimally invasive products for the neurosurgery market. The company’s products are used by surgeons to treat conditions such as brain tumors, cerebral aneurysms, and skull-base tumors.

Summary

Investors in INARI Medical should be encouraged by the company’s strong results and outlook, with potential for solid long-term growth ahead.