$NARI
Inari Medical Inc

2021 Q4 Form 10-Q Financial Statement

#000095017021003752 Filed on November 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $83.22M $72.92M $38.72M
YoY Change 71.2% 88.34% 172.07%
Cost Of Revenue $8.280M $7.040M $3.228M
YoY Change 124.39% 118.09% 113.77%
Gross Profit $74.94M $65.88M $35.49M
YoY Change 66.79% 85.63% 178.99%
Gross Profit Margin 90.05% 90.35% 91.66%
Selling, General & Admin $53.68M $56.10M $23.08M
YoY Change 71.18% 143.08% 128.51%
% of Gross Profit 71.64% 85.17% 65.04%
Research & Development $18.73M $12.50M $5.217M
YoY Change 186.33% 139.58% 203.31%
% of Gross Profit 24.99% 18.97% 14.7%
Depreciation & Amortization $926.0K $820.0K $360.0K
YoY Change 101.3% 127.78% 140.0%
% of Gross Profit 1.24% 1.24% 1.01%
Operating Expenses $73.19M $68.60M $28.30M
YoY Change 92.97% 142.44% 139.4%
Operating Profit $1.746M -$2.727M $7.190M
YoY Change -75.06% -137.93% 698.89%
Interest Expense -$51.00K $73.00K $251.0K
YoY Change -70.92% -219.52%
% of Operating Profit -2.92% 3.49%
Other Income/Expense, Net -$14.00K -$16.00K -$694.0K
YoY Change 40.0% -97.69% 31.69%
Pretax Income $1.681M -$2.743M $6.496M
YoY Change -75.95% -142.23% 1674.86%
Income Tax $574.0K $61.00K $0.00
% Of Pretax Income 34.15% 0.0%
Net Earnings $1.107M -$2.804M $6.496M
YoY Change -84.16% -143.17% 1674.86%
Net Earnings / Revenue 1.33% -3.85% 16.78%
Basic Earnings Per Share -$0.06 $0.13
Diluted Earnings Per Share $22.02K -$0.06 $0.13
COMMON SHARES
Basic Shares Outstanding 50.20M 50.00M 48.34M
Diluted Shares Outstanding 50.95M 55.72M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $176.1M $162.6M $168.0M
YoY Change 7.25% -3.22%
Cash & Equivalents $92.75M $81.16M $24.03M
Short-Term Investments $83.35M $81.44M
Other Short-Term Assets $5.694M $7.141M $3.500M
YoY Change 96.34% 104.03%
Inventory $21.05M $19.50M $7.200M
Prepaid Expenses
Receivables $42.35M $38.92M $20.80M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $245.2M $228.2M $199.5M
YoY Change 19.22% 14.36%
LONG-TERM ASSETS
Property, Plant & Equipment $16.47M $14.75M $5.500M
YoY Change 119.67% 168.15%
Goodwill
YoY Change
Intangibles $0.00
YoY Change
Long-Term Investments $3.983M $6.002M
YoY Change
Other Assets $981.0K $672.0K $900.0K
YoY Change 9.0% -25.33%
Total Long-Term Assets $66.34M $64.28M $6.300M
YoY Change 688.03% 920.27%
TOTAL ASSETS
Total Short-Term Assets $245.2M $228.2M $199.5M
Total Long-Term Assets $66.34M $64.28M $6.300M
Total Assets $311.5M $292.4M $205.8M
YoY Change 45.52% 42.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.541M $5.083M $3.500M
YoY Change 114.67% 45.23%
Accrued Expenses $35.97M $24.43M $10.80M
YoY Change 233.07% 126.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $42.51M $29.51M $14.30M
YoY Change 207.22% 106.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.416M $28.55M $0.00
YoY Change
Total Long-Term Liabilities $1.416M $28.55M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $42.51M $29.51M $14.30M
Total Long-Term Liabilities $1.416M $28.55M $0.00
Total Liabilities $72.33M $58.06M $14.33M
YoY Change 422.71% 305.23%
SHAREHOLDERS EQUITY
Retained Earnings -$17.58M -$18.69M -$34.41M
YoY Change -35.88% -45.68%
Common Stock $257.2M $253.3M
YoY Change 12.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $239.2M $234.4M $191.5M
YoY Change
Total Liabilities & Shareholders Equity $311.5M $292.4M $205.8M
YoY Change 45.52% 42.09%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $1.107M -$2.804M $6.496M
YoY Change -84.16% -143.17% 1674.86%
Depreciation, Depletion And Amortization $926.0K $820.0K $360.0K
YoY Change 101.3% 127.78% 140.0%
Cash From Operating Activities $15.01M -$5.589M $5.350M
YoY Change -1020.67% -204.47% -1721.21%
INVESTING ACTIVITIES
Capital Expenditures -$2.718M -$4.741M -$1.660M
YoY Change 14.2% 185.6% 43.1%
Acquisitions
YoY Change
Other Investing Activities $61.00K -$2.687M
YoY Change -100.12%
Cash From Investing Activities -$2.657M -$7.428M -$1.660M
YoY Change -94.93% 347.47% 43.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -620.0K 2.993M -30.53M
YoY Change -369.57% -109.8% -17061.11%
NET CHANGE
Cash From Operating Activities 15.01M -5.589M 5.350M
Cash From Investing Activities -2.657M -7.428M -1.660M
Cash From Financing Activities -620.0K 2.993M -30.53M
Net Change In Cash 11.73M -10.02M -26.84M
YoY Change -121.82% -62.65% 1948.85%
FREE CASH FLOW
Cash From Operating Activities $15.01M -$5.589M $5.350M
Capital Expenditures -$2.718M -$4.741M -$1.660M
Free Cash Flow $17.73M -$848.0K $7.010M
YoY Change 2263.33% -112.1% 744.58%

Facts In Submission

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WeightedAverageNumberOfSharesOutstandingBasic
49664037
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26423681
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50001996
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55355846
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55511061
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49940409
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
200254000
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
381000
CY2021Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1882000
CY2021Q1 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-49000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3836000
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-162000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
7469000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
213611000
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
193000
CY2021Q2 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-706000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4604000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
51000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
4068000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
221821000
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
159000
CY2021Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
3676000
CY2021Q3 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-842000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12499000
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-139000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-2804000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
234370000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
-39144000
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
CY2020Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
161000
CY2020Q3 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-2000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
959000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
6496000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
191484000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
732000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
10479000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3536000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10927000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3076000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
105438000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
68000000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-48365000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3076000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
5558000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
0
us-gaap Depreciation
Depreciation
2108000
us-gaap Depreciation
Depreciation
931000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
108000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
142000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
537000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
0
us-gaap Share Based Compensation
ShareBasedCompensation
20939000
us-gaap Share Based Compensation
ShareBasedCompensation
1959000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-22000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
15000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
648000
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
-10898000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-9550000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-8924000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-3242000
nari Increase Decrease In Prepaid Expenses Deposits And Other Assets
IncreaseDecreaseInPrepaidExpensesDepositsAndOtherAssets
-4525000
nari Increase Decrease In Prepaid Expenses Deposits And Other Assets
IncreaseDecreaseInPrepaidExpensesDepositsAndOtherAssets
-2945000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2042000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
984000
nari Increase Decrease In Payroll Related Accruals Accrued Expenses And Other Liabilities
IncreaseDecreaseInPayrollRelatedAccrualsAccruedExpensesAndOtherLiabilities
12919000
nari Increase Decrease In Payroll Related Accruals Accrued Expenses And Other Liabilities
IncreaseDecreaseInPayrollRelatedAccrualsAccruedExpensesAndOtherLiabilities
4473000
nari Lease Prepayments For Lessors Owned Leasehold Improvements
LeasePrepaymentsForLessorsOwnedLeaseholdImprovements
-11964000
nari Lease Prepayments For Lessors Owned Leasehold Improvements
LeasePrepaymentsForLessorsOwnedLeaseholdImprovements
0
nari Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-574000
nari Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
0
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
227000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1597000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0
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 Repayments Of Notes Payable
RepaymentsOfNotesPayable
30250000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
453000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
4000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4693000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
143889000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-266000
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
-33459000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
144349000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
114617000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24027000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
81158000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
168376000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
271000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
82000
us-gaap Interest Paid Net
InterestPaidNet
113000
us-gaap Interest Paid Net
InterestPaidNet
966000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
28648000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0
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
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:0.0%;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="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Management Estimates</span></p><p style="text-indent:4.533%;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="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;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>
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
40000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
81158000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
114229000
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
388000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
81158000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
114617000
CY2020Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
50000
CY2021Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
0
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
62000
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2021Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
25000
CY2021Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000
CY2021Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
135957000
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
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
CY2021Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2021Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2021Q3 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2021Q3 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2020Q4 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
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
-4486000
CY2021Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
CY2021Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
135933000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
85011000
CY2021Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
5287000
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
2607000
CY2021Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2096000
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
787000
CY2021Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
12116000
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7203000
CY2021Q3 us-gaap Inventory Net
InventoryNet
19499000
CY2020Q4 us-gaap Inventory Net
InventoryNet
10597000
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18822000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9531000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4074000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2033000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14748000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7498000
CY2021Q3 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
631000
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.
CY2021Q3 us-gaap Capitalized Contract Cost Amortization Period
CapitalizedContractCostAmortizationPeriod
P3Y
CY2021Q3 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P10M
CY2020Q4 nari Operating Leases Number Of Lease Period Extension Options
OperatingLeasesNumberOfLeasePeriodExtensionOptions
2
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
42167000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
28648000
CY2020Q4 nari Tenant Allowance
TenantAllowance
13519000
CY2020Q4 nari Tenant Allowance Related To Prepaid Lease Payments
TenantAllowanceRelatedToPrepaidLeasePayments
3673000
CY2020Q4 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P238M
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.060
CY2021Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
13718000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
14116000
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
186000
us-gaap Operating Lease Expense
OperatingLeaseExpense
557000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
593000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2548000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2169000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2240000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2302000
CY2021Q3 nari Lessee Operating Lease Liability Payments Thereafter
LesseeOperatingLeaseLiabilityPaymentsThereafter
41933000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
51785000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
22381000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
29404000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
857000
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
28547000
CY2021Q3 nari Number Of Letter Of Credit
NumberOfLetterOfCredit
2
CY2020Q4 nari Number Of Letter Of Credit
NumberOfLetterOfCredit
1
CY2021Q3 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
430000
CY2020Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
430000
CY2021Q3 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
155000
CY2020Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
47000
CY2021Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
275000
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
383000
us-gaap Net Income Loss
NetIncomeLoss
8733000
us-gaap Net Income Loss
NetIncomeLoss
6804000
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
45226000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y2M12D
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2743000
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6496000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
9004000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6804000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
61000
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
271000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-2804000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
6496000
CY2020Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
31968570
CY2020Q2 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
31968570
CY2021Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0
CY2021Q3 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
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12499000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
959000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20939000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1959000
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.022
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.030
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
11900000
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 twelve months.
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.16
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
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
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.04
CY2021Q3 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
836000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2595000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-2804000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
6496000
us-gaap Net Income Loss
NetIncomeLoss
8733000
us-gaap Net Income Loss
NetIncomeLoss
6804000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50001996
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48335443
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49664037
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26423681
CY2021Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
CY2020Q3 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
16684327
CY2021Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
CY2020Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
174907
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
170102
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50001996
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55355846
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55511061
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49940409
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5511904

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