$NARI
Inari Medical Inc

2021 Q2 Form 10-Q Financial Statement

#000095017021001174 Filed on August 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $63.45M $25.39M
YoY Change 149.89% 152.1%
Cost Of Revenue $4.814M $3.487M
YoY Change 38.06% 161.98%
Gross Profit $58.64M $21.91M
YoY Change 167.7% 150.6%
Gross Profit Margin 92.41% 86.27%
Selling, General & Admin $42.90M $18.88M
YoY Change 127.21% 141.96%
% of Gross Profit 73.15% 86.19%
Research & Development $11.63M $3.628M
YoY Change 220.56% 129.62%
% of Gross Profit 19.83% 16.56%
Depreciation & Amortization $678.0K $300.0K
YoY Change 126.0% 150.0%
% of Gross Profit 1.16% 1.37%
Operating Expenses $54.53M $22.51M
YoY Change 142.26% 139.88%
Operating Profit $4.112M -$603.0K
YoY Change -781.92% -6.07%
Interest Expense $74.00K $463.0K
YoY Change -84.02% -320.48%
% of Operating Profit 1.8%
Other Income/Expense, Net -$32.00K -$3.201M
YoY Change -99.0% 2567.5%
Pretax Income $4.080M -$3.804M
YoY Change -207.26% 294.2%
Income Tax $12.00K $0.00
% Of Pretax Income 0.29%
Net Earnings $4.068M -$3.804M
YoY Change -206.94% 294.2%
Net Earnings / Revenue 6.41% -14.98%
Basic Earnings Per Share $0.08 -$0.16
Diluted Earnings Per Share $0.07 -$0.16
COMMON SHARES
Basic Shares Outstanding 49.67M 24.30M
Diluted Shares Outstanding 55.60M 24.30M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $176.1M $194.8M
YoY Change -9.62%
Cash & Equivalents $91.32M $194.8M
Short-Term Investments $84.74M
Other Short-Term Assets $2.497M $4.000M
YoY Change -37.58%
Inventory $18.11M $5.620M
Prepaid Expenses
Receivables $31.50M $15.39M
Other Receivables $0.00 $0.00
Total Short-Term Assets $228.2M $219.8M
YoY Change 3.83%
LONG-TERM ASSETS
Property, Plant & Equipment $10.83M $4.176M
YoY Change 159.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.69M $400.0K
YoY Change 3323.0%
Total Long-Term Assets $25.39M $4.590M
YoY Change 453.09%
TOTAL ASSETS
Total Short-Term Assets $228.2M $219.8M
Total Long-Term Assets $25.39M $4.590M
Total Assets $253.6M $224.4M
YoY Change 13.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.32M $2.294M
YoY Change 349.83%
Accrued Expenses $21.26M $8.600M
YoY Change 147.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $31.58M $10.90M
YoY Change 189.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $29.60M
YoY Change -100.0%
Other Long-Term Liabilities $156.0K $0.00
YoY Change
Total Long-Term Liabilities $156.0K $29.60M
YoY Change -99.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.58M $10.90M
Total Long-Term Liabilities $156.0K $29.60M
Total Liabilities $31.74M $40.48M
YoY Change -21.6%
SHAREHOLDERS EQUITY
Retained Earnings -$15.89M -$40.90M
YoY Change -61.16%
Common Stock $237.8M $224.8M
YoY Change 5.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $221.8M $183.9M
YoY Change
Total Liabilities & Shareholders Equity $253.6M $224.4M
YoY Change 13.02%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $4.068M -$3.804M
YoY Change -206.94% 294.2%
Depreciation, Depletion And Amortization $678.0K $300.0K
YoY Change 126.0% 150.0%
Cash From Operating Activities $7.298M -$1.130M
YoY Change -745.84% -47.44%
INVESTING ACTIVITIES
Capital Expenditures -$4.916M -$810.0K
YoY Change 506.91% 44.64%
Acquisitions
YoY Change
Other Investing Activities -$13.50M
YoY Change
Cash From Investing Activities -$18.43M -$810.0K
YoY Change 2174.94% 44.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -510.0K 164.4M
YoY Change -100.31% 1643900.0%
NET CHANGE
Cash From Operating Activities 7.298M -1.130M
Cash From Investing Activities -18.43M -810.0K
Cash From Financing Activities -510.0K 164.4M
Net Change In Cash -11.64M 162.5M
YoY Change -107.16% -6117.04%
FREE CASH FLOW
Cash From Operating Activities $7.298M -$1.130M
Capital Expenditures -$4.916M -$810.0K
Free Cash Flow $12.21M -$320.0K
YoY Change -3916.88% -79.87%

Facts In Submission

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CY2020Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
162979000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
4486000
CY2020Q2 nari Exercise Of Common Stock Warrants
ExerciseOfCommonStockWarrants
4000
CY2020Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
45000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
505000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-3804000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
183870000
us-gaap Profit Loss
ProfitLoss
11537000
us-gaap Profit Loss
ProfitLoss
308000
us-gaap Depreciation
Depreciation
1288000
us-gaap Depreciation
Depreciation
573000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
76000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
113000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
357000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
0
us-gaap Share Based Compensation
ShareBasedCompensation
8440000
us-gaap Share Based Compensation
ShareBasedCompensation
1000000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-22000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
84000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
0
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
3317000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3470000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4174000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
7523000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1667000
nari Increase Decrease In Prepaid Expenses Deposits And Other Assets
IncreaseDecreaseInPrepaidExpensesDepositsAndOtherAssets
11306000
nari Increase Decrease In Prepaid Expenses Deposits And Other Assets
IncreaseDecreaseInPrepaidExpensesDepositsAndOtherAssets
3391000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
7276000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-255000
nari Increase Decrease In Payroll Related Accruals Accrued Expenses And Other Liabilities
IncreaseDecreaseInPayrollRelatedAccrualsAccruedExpensesAndOtherLiabilities
9796000
nari Increase Decrease In Payroll Related Accruals Accrued Expenses And Other Liabilities
IncreaseDecreaseInPayrollRelatedAccrualsAccruedExpensesAndOtherLiabilities
2287000
nari Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-381000
nari Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
0
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
16068000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1805000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6186000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1418000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
84751000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
0
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
50000000
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-40937000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1418000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
164361000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
10000000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
12000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1882000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
0
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
573000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
67000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
4000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
755000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1700000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
174420000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-126000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-23295000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
171197000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
114617000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24027000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
91322000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
195224000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
158000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
81000
us-gaap Interest Paid Net
InterestPaidNet
76000
us-gaap Interest Paid Net
InterestPaidNet
618000
nari Common Stock Issued On Conversion Of Convertible Preferred Stock
CommonStockIssuedOnConversionOfConvertiblePreferredStock
0
nari Common Stock Issued On Conversion Of Convertible Preferred Stock
CommonStockIssuedOnConversionOfConvertiblePreferredStock
54170000
nari Common Stock Warrants Issued On Conversion Of Preferred Stock Warrants And The Reclassification Of The Warrant Liability
CommonStockWarrantsIssuedOnConversionOfPreferredStockWarrantsAndTheReclassificationOfTheWarrantLiability
0
nari Common Stock Warrants Issued On Conversion Of Preferred Stock Warrants And The Reclassification Of The Warrant Liability
CommonStockWarrantsIssuedOnConversionOfPreferredStockWarrantsAndTheReclassificationOfTheWarrantLiability
4486000
nari Deferred Initial Public Offering Cost Recorded To Additional Paid In Capital
DeferredInitialPublicOfferingCostRecordedToAdditionalPaidInCapital
0
nari Deferred Initial Public Offering Cost Recorded To Additional Paid In Capital
DeferredInitialPublicOfferingCostRecordedToAdditionalPaidInCapital
1382000
nari Accruals Of Deferred Interest Obligation Associated With Debt
AccrualsOfDeferredInterestObligationAssociatedWithDebt
0
nari Accruals Of Deferred Interest Obligation Associated With Debt
AccrualsOfDeferredInterestObligationAssociatedWithDebt
100000
CY2020Q2 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
163000000.0
CY2020Q2 nari Underwriters Discounts And Commissions Expenses
UnderwritersDiscountsAndCommissionsExpenses
12600000
CY2020Q2 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
3700000
CY2019Q4 nari Offering Cost Incurred
OfferingCostIncurred
1400000
us-gaap Preferred Stock Conversion Basis
PreferredStockConversionBasis
Upon the completion of the IPO, all shares of Series A, B, and C redeemable convertible preferred stock then outstanding were converted into 31,968,570 shares of common stock on a one-to-one basis.
CY2020Q4 us-gaap Preferred Stock Conversion Basis
PreferredStockConversionBasis
31,968,570
CY2020Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
256588
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0pt;font-size:10.0pt;margin-top:12.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="color:rgba(0,0,0,1);font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Management Estimates</span></p><p style="text-indent:24.5pt;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates and assumptions made in the accompanying financial statements include, but are not limited to the collectability of receivables, the valuation of inventory, the fair value of common stock warrants, the fair value of preferred stock warrant liabilities, the fair value of stock options, recoverability of the Company’s net deferred tax assets and related valuation allowance, and certain accruals. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could materially differ from those estimates.</span></p>
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
91322000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
114229000
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
388000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
91322000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
114617000
CY2020Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
50000
CY2021Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
0
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
40000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
62000
CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1200000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1300000
CY2021Q2 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2021Q2 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2021Q2 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2021Q2 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
787000
CY2021Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
11974000
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7203000
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
CY2019Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1169000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
3317000
nari Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Conversion Of Preferred Stock Warrants To Common Stock Warrants Upon Closing Of Ipo
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityConversionOfPreferredStockWarrantsToCommonStockWarrantsUponClosingOfIpo
0
nari Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Conversion Of Preferred Stock Warrants To Common Stock Warrants Upon Closing Of Ipo
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityConversionOfPreferredStockWarrantsToCommonStockWarrantsUponClosingOfIpo
-4486000
CY2021Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
CY2020Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
135926000
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
19000
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2000
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
135943000
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
85007000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
4000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
85011000
CY2021Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
3730000
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
2607000
CY2021Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2408000
CY2021Q2 us-gaap Inventory Net
InventoryNet
18112000
CY2020Q4 us-gaap Inventory Net
InventoryNet
10597000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
486000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
34000
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14147000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9531000
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3320000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2033000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10827000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7498000
CY2021Q2 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
479000
us-gaap Capitalized Contract Cost Amortization Method
CapitalizedContractCostAmortizationMethod
The capitalized costs are amortized on a straight-line basis over the non-cancelable contract terms, generally three years.
CY2021Q2 us-gaap Capitalized Contract Cost Amortization Period
CapitalizedContractCostAmortizationPeriod
P3Y
CY2021Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P13M
CY2020Q4 nari Operating Leases Number Of Lease Period Extension Options
OperatingLeasesNumberOfLeasePeriodExtensionOptions
2
CY2020Q4 nari Tenant Improvement Costs
TenantImprovementCosts
28000000
CY2020Q4 nari Tenant Improvement Costs To Be Funded By Lessor
TenantImprovementCostsToBeFundedByLessor
4500000
CY2021Q2 us-gaap Tenant Improvements
TenantImprovements
13100000
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.029
CY2021Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
199000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
398000
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
186000
us-gaap Operating Lease Expense
OperatingLeaseExpense
371000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
406000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
33000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
16000
CY2021Q2 nari Lessee Operating Lease Liability Payments Thereafter
LesseeOperatingLeaseLiabilityPaymentsThereafter
0
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
975000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
26000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
949000
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
793000
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
156000
CY2021Q2 nari Lessee Operating Lease Liability Not Yet Commenced Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityNotYetCommencedPaymentsRemainderOfFiscalYear
287000
CY2021Q2 nari Lessee Operating Lease Liability Not Yet Commenced Payments Due In Next Twelve Months
LesseeOperatingLeaseLiabilityNotYetCommencedPaymentsDueInNextTwelveMonths
2050000
CY2021Q2 nari Lessee Operating Lease Liability Not Yet Commenced Payments Due Year Two
LesseeOperatingLeaseLiabilityNotYetCommencedPaymentsDueYearTwo
2123000
CY2021Q2 nari Lessee Operating Lease Liability Not Yet Commenced Payments Due Year Three
LesseeOperatingLeaseLiabilityNotYetCommencedPaymentsDueYearThree
2195000
CY2021Q2 nari Lessee Operating Lease Liability Not Yet Commenced Payments Due Year Four
LesseeOperatingLeaseLiabilityNotYetCommencedPaymentsDueYearFour
2272000
CY2021Q2 nari Lessee Operating Lease Liability Not Yet Commenced Payments Due Thereafter
LesseeOperatingLeaseLiabilityNotYetCommencedPaymentsDueThereafter
42091000
CY2021Q2 nari Lessee Operating Lease Liability Not Yet Commenced Payments Due
LesseeOperatingLeaseLiabilityNotYetCommencedPaymentsDue
51018000
CY2021Q2 nari Number Of Letter Of Credit
NumberOfLetterOfCredit
2
CY2020Q4 nari Number Of Letter Of Credit
NumberOfLetterOfCredit
1
CY2021Q2 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
430000
CY2020Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
430000
CY2021Q2 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
120000
CY2020Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
47000
CY2021Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
310000
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
383000
CY2020Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
31968570
CY2020Q2 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
31968570
CY2021Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0
CY2021Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
256588
CY2020Q2 nari Class Of Warrant Exercised For Cash
ClassOfWarrantExercisedForCash
77030
CY2020Q2 nari Number Of Common Stock Shares Issued Upon Exercise Of Preferred Stock Warrants
NumberOfCommonStockSharesIssuedUponExerciseOfPreferredStockWarrants
74723
CY2020Q4 nari Class Of Warrant Exercised For Cash
ClassOfWarrantExercisedForCash
179558
CY2020Q4 nari Number Of Common Stock Shares Issued Upon Exercise Of Preferred Stock Warrants
NumberOfCommonStockSharesIssuedUponExerciseOfPreferredStockWarrants
174776
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4604000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
505000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8440000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1000000
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
41833000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4080000
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3804000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
11747000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
308000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
210000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
4068000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-3804000
us-gaap Net Income Loss
NetIncomeLoss
11537000
us-gaap Net Income Loss
NetIncomeLoss
308000
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.003
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.018
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.003
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
210000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
11900
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
us-gaap Significant Change In Unrecognized Tax Benefits Nature Of Event
SignificantChangeInUnrecognizedTaxBenefitsNatureOfEvent
It is not expected that there will be a significant change in uncertain tax position in the next 12 months.
us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
In the normal course of business, the Company is subject to examination by tax authorities. As of the date of the financial statements, there are no tax examinations in progress. The statute of limitations for tax years ended after December 31, 2015 and December 31, 2016 are open for state and federal tax purposes, respectively.
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
1.00
us-gaap Defined Benefit Plan Plan Assets Contributions By Plan Participant
DefinedBenefitPlanPlanAssetsContributionsByPlanParticipant
1.00
CY2021Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
921000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1759000
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.04
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
4068000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-3804000
us-gaap Net Income Loss
NetIncomeLoss
11537000
us-gaap Net Income Loss
NetIncomeLoss
308000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49669652
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24295900
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49512800
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15339755
CY2021Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
CY2020Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
25118162
CY2021Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
CY2020Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
160001
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55595016
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24295900
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55665193
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47362292
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25813190

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