Inari Medical, Inc.
inarimedical.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2024 10-Q, filed Oct 28, 2024. Its latest SEC filing is a SCHEDULE 13G/A from May 1, 2025.
10-Q for Q3 FY2024, filed Oct 28, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Sells catheter-based systems for removing blood clots and restoring blood flow to hospitals treating venous and other vascular diseases.
10-K for FY2023, filed Feb 29, 2024We purpose build a variety of products, including minimally invasive, novel, catheter-based mechanical thrombectomy devices and their…View ↗
Our product offerings consist of solutions aimed at improving outcomes for patients suffering from venous thromboembolism and other…View ↗
Chronic limb-threatening ischemia (CLTI) is an advanced stage of peripheral artery disease that is associated with increased mortality…View ↗
We believe our mission-focused and highly-trained commercial organization provides a significant competitive advantage. Our most important…View ↗
How Did They Make Money?
Hospitals buy products through an initial stocking order and then replenish inventory as procedures are performed. Inari earns each sale when the products ship or are delivered.
10-K for FY2023, filed Feb 29, 2024
$493.6M
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10-K for FY2023, filed Feb 29, 2024
$493.6M ↗
Who Were Their Customers?
In the United States, hospitals buy directly from Inari's sales force. In international markets, hospitals buy either directly or through distributors; the approach varies by country.
10-K for FY2023, filed Feb 29, 2024We believe our mission-focused and highly-trained commercial organization provides a significant competitive advantage. Our most important…View ↗
We compete globally in the U.S. and across international geographies. International includes countries across Europe, Middle East, and…View ↗
The Company sells its products primarily to hospitals in the United States through its direct sales force. The Company recognizes revenue…View ↗
Did Revenues Turn Into Profits?
Not on paper. It lost $1.6M in FY2023, but brought in more cash than it spent: $31.2M of free cash flow.
10-K for FY2023, filed Feb 29, 2024
−$14MView ↗
10-K for FY2023, filed Feb 29, 2024
−$1.6MView ↗
10-K for FY2023, filed Feb 29, 2024
$31.2MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q3 FY2024, filed Oct 29, 2024
−$18.4MView ↗
- ▼ Now a loss
- vs $3.2M in Q3 FY2023
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Feb 19, 2025
Stryker acquired Inari, which became its wholly owned subsidiary
Inari asked Nasdaq to suspend trading and delist its shares after the merger.
Sources
8-K, filed Feb 19, 2025
As a result of Merger Sub’s acceptance for payment of all Shares that were validly tendered and not properly withdrawn in accordance with…View ↗
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Jan 6, 2025
Stryker agreed to acquire Inari
The agreement called for a cash tender offer for all Inari shares, followed by a merger.
Sources
8-K, filed Jan 6, 2025
On January 6, 2025, Inari Medical, Inc., a Delaware corporation (the “Company” or “Inari”), entered into an Agreement and Plan of Merger…View ↗
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Oct 28, 2024
Inari raised its 2024 revenue guidance
The new range was $601.5 million to $604.5 million, reflecting projected growth of approximately 21.9% to 22.5%.
Sources
8-K, filed Oct 28, 2024
Inari raises full year 2024 revenue guidance to $601.5 million to $604.5 million, an increase of $3.5 million at the midpoint from our…View ↗
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Jul 30, 2024
Kevin Strange succeeded Mitch Hill as CFO
Sources
8-K, filed Jul 30, 2024
On July 24, 2024, Mitch Hill notified Inari Medical, Inc. (the “Company”) of his decision to retire as Chief Financial Officer of the…View ↗
Grew. Revenue grew 9.7x in 4 years, from $51.1M in FY2019 to $493.6M in FY2023, about 76% a year.
Broader treatment range
The older report centered on products for deep vein thrombosis and pulmonary embolism; the latest covers chronic venous disease, small-vessel and arterial clots, and limb-threatening ischemia.
10-K for FY2020, filed Mar 9, 2021 10-K for FY2023, filed Feb 29, 2024We are a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from…View ↗
Who Did They Compete With?
Competes with Roche, Penumbra, Boston Scientific, Abbott, Medtronic, AngioDynamics, Becton Dickinson, and Phillips
10-K for FY2023, filed Feb 29, 2024The medical device industry is highly competitive, subject to rapid change and significantly affected by the introduction of new products…View ↗
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