$NARI
Inari Medical Inc

2022 Q3 Form 10-Q Financial Statement

#000095017022014261 Filed on August 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $96.20M $92.74M $86.75M
YoY Change 31.94% 46.16% 51.14%
Cost Of Revenue $11.06M $10.35M $9.967M
YoY Change 57.16% 114.94% 115.6%
Gross Profit $85.14M $82.40M $76.79M
YoY Change 29.24% 40.52% 45.5%
Gross Profit Margin 88.5% 88.84% 88.51%
Selling, General & Admin $75.83M $73.16M $63.73M
YoY Change 35.17% 70.54% 72.72%
% of Gross Profit 89.07% 88.78% 83.0%
Research & Development $19.11M $18.57M $16.14M
YoY Change 52.85% 59.66% 97.66%
% of Gross Profit 22.44% 22.54% 21.01%
Depreciation & Amortization $1.170M $1.197M $1.063M
YoY Change 42.68% 76.55% 74.55%
% of Gross Profit 1.37% 1.45% 1.38%
Operating Expenses $94.94M $91.73M $79.87M
YoY Change 38.39% 68.22% 77.24%
Operating Profit -$9.798M -$9.328M -$3.082M
YoY Change 259.3% -326.85% -139.96%
Interest Expense $74.00K $73.00K $73.00K
YoY Change 1.37% -1.35% 0.0%
% of Operating Profit
Other Income/Expense, Net $485.0K $393.0K -$47.00K
YoY Change -3131.25% -1328.13% 2.17%
Pretax Income -$9.313M -$8.935M -$3.129M
YoY Change 239.52% -319.0% -140.81%
Income Tax $840.0K $1.252M $0.00
% Of Pretax Income
Net Earnings -$10.15M -$10.19M -$3.129M
YoY Change 262.09% -350.42% -141.89%
Net Earnings / Revenue -10.55% -10.98% -3.61%
Basic Earnings Per Share -$0.19 -$0.19 -$0.06
Diluted Earnings Per Share -$0.19 -$0.19 -$0.06
COMMON SHARES
Basic Shares Outstanding 53.39M 53.18M 50.95M
Diluted Shares Outstanding 53.49M 53.18M 50.95M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $319.2M $330.5M $338.7M
YoY Change 96.34% 87.71% 94.55%
Cash & Equivalents $83.53M $79.72M $186.6M
Short-Term Investments $235.7M $250.8M $152.2M
Other Short-Term Assets $7.609M $4.997M $5.849M
YoY Change 6.55% 100.12% 165.86%
Inventory $29.67M $26.67M $23.83M
Prepaid Expenses
Receivables $54.06M $49.17M $44.95M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $410.6M $411.3M $413.3M
YoY Change 79.96% 80.28% 86.78%
LONG-TERM ASSETS
Property, Plant & Equipment $21.19M $20.08M $18.15M
YoY Change 43.69% 85.43% 138.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $0.00
YoY Change -100.0%
Other Assets $6.106M $6.195M $6.216M
YoY Change 808.63% -54.75% 9.05%
Total Long-Term Assets $77.25M $72.92M $70.77M
YoY Change 20.18% 187.25% 432.11%
TOTAL ASSETS
Total Short-Term Assets $410.6M $411.3M $413.3M
Total Long-Term Assets $77.25M $72.92M $70.77M
Total Assets $487.8M $484.3M $484.1M
YoY Change 66.82% 90.99% 106.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.035M $4.748M $6.066M
YoY Change 18.73% -53.99% 10.29%
Accrued Expenses $36.31M $36.24M $29.51M
YoY Change 48.64% 70.42% 95.46%
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 $42.34M $40.98M $35.58M
YoY Change 43.49% 29.77% 72.59%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $1.304M $1.416M
YoY Change -100.0% 735.9% 254.0%
Total Long-Term Liabilities $0.00 $1.304M $1.416M
YoY Change -100.0% 735.9% 254.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.34M $40.98M $35.58M
Total Long-Term Liabilities $0.00 $1.304M $1.416M
Total Liabilities $72.72M $70.48M $65.30M
YoY Change 25.26% 122.08% 210.94%
SHAREHOLDERS EQUITY
Retained Earnings -$41.05M -$30.90M -$20.71M
YoY Change 119.65% 94.5%
Common Stock $457.1M $445.9M $440.3M
YoY Change 80.45% 87.48% 88.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $415.1M $413.8M $418.8M
YoY Change
Total Liabilities & Shareholders Equity $487.8M $484.3M $484.1M
YoY Change 66.82% 90.99% 106.36%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$10.15M -$10.19M -$3.129M
YoY Change 262.09% -350.42% -141.89%
Depreciation, Depletion And Amortization $1.170M $1.197M $1.063M
YoY Change 42.68% 76.55% 74.55%
Cash From Operating Activities -$13.07M -$3.061M -$9.100M
YoY Change 133.78% -141.94% -203.81%
INVESTING ACTIVITIES
Capital Expenditures -$2.309M -$3.119M $2.745M
YoY Change -51.3% -36.55% 117.0%
Acquisitions
YoY Change
Other Investing Activities $15.71M -$98.74M -$70.77M
YoY Change -684.7% 631.36% 233.02%
Cash From Investing Activities $13.40M -$101.9M -$73.51M
YoY Change -280.43% 452.78% 226.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.880M -1.595M 176.5M
YoY Change 29.64% 212.75% 7873.89%
NET CHANGE
Cash From Operating Activities -13.07M -3.061M -9.100M
Cash From Investing Activities 13.40M -101.9M -73.51M
Cash From Financing Activities 3.880M -1.595M 176.5M
Net Change In Cash 4.216M -106.5M 93.80M
YoY Change -142.06% 815.16% -900.79%
FREE CASH FLOW
Cash From Operating Activities -$13.07M -$3.061M -$9.100M
Capital Expenditures -$2.309M -$3.119M $2.745M
Free Cash Flow -$10.76M $58.00K -$11.85M
YoY Change 1168.51% -99.53% -257.91%

Facts In Submission

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CY2022Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
3427000
CY2022Q1 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-1624000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
11900000
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
174394000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6555000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-365000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-3129000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
418812000
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
156000
CY2022Q2 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-1751000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7164000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-416000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-10187000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
413778000
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
us-gaap Profit Loss
ProfitLoss
-13316000
us-gaap Profit Loss
ProfitLoss
11537000
us-gaap Depreciation
Depreciation
2260000
us-gaap Depreciation
Depreciation
1288000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
72000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
76000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1225000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
357000
us-gaap Share Based Compensation
ShareBasedCompensation
13719000
us-gaap Share Based Compensation
ShareBasedCompensation
8440000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
66000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-22000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6960000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3470000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
5676000
nari Increase Decrease In Payroll Related Accruals Accrued Expenses And Other Liabilities
IncreaseDecreaseInPayrollRelatedAccrualsAccruedExpensesAndOtherLiabilities
9796000
nari Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-544000
nari Increase Decrease In Prepaid Expenses Deposits And Other Assets
IncreaseDecreaseInPrepaidExpensesDepositsAndOtherAssets
-1072000
nari Increase Decrease In Prepaid Expenses Deposits And Other Assets
IncreaseDecreaseInPrepaidExpensesDepositsAndOtherAssets
11306000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
92752000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-23295000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1760000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
7276000
nari Increase Decrease In Payroll Related Accruals Accrued Expenses And Other Liabilities
IncreaseDecreaseInPayrollRelatedAccrualsAccruedExpensesAndOtherLiabilities
650000
nari Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-381000
nari Lease Prepayments For Lessors Owned Leasehold Improvements
LeasePrepaymentsForLessorsOwnedLeaseholdImprovements
-2969000
nari Lease Prepayments For Lessors Owned Leasehold Improvements
LeasePrepaymentsForLessorsOwnedLeaseholdImprovements
0
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-12161000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
16068000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5864000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6186000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
230814000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
84751000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
67000000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
50000000
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
5693000
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-175371000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-40937000
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
11900000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
174394000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
3427000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1882000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
501000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
573000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3375000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
755000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
174947000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1700000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-443000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-126000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-13028000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
114617000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
79724000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
91322000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2297000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
158000
us-gaap Interest Paid Net
InterestPaidNet
75000
us-gaap Interest Paid Net
InterestPaidNet
76000
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
5763000
CY2022Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1507000
CY2021Q4 us-gaap Inventory Net
InventoryNet
21053000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;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;min-width:fit-content;">Management Estimates</span></p><p style="text-indent:4.133%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;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;min-width:fit-content;">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 consolidated financial statements may include, but are not limited to, collectability of receivables, recoverability of long-lived assets, valuation of inventory, other investments, fair v</span><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;min-width:fit-content;">alue of stock options, recoverability of net deferred tax assets and related valuation allowance, and certain accruals. Estimates are based on historical experience and on various assumptions that the Company believes are reasonable under current circumstances. Actual results could differ materially from those estimates. Management periodically evaluates such estimates and assumptions, and they are adjusted prospectively based upon such periodic evaluation.</span></p>
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1490000
CY2022Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
8695000
CY2022Q2 us-gaap Other Investments
OtherInvestments
5700000
CY2022Q2 nari Fair Value Assets Level1 To Level2 Transfers Amount1
FairValueAssetsLevel1ToLevel2TransfersAmount1
0
CY2022Q2 nari Fair Value Assets Level2 To Level1 Transfers Amount2
FairValueAssetsLevel2ToLevel1TransfersAmount2
0
CY2022Q2 nari Fair Value Liabilities Level1 To Level2 Transfers Amount1
FairValueLiabilitiesLevel1ToLevel2TransfersAmount1
0
CY2022Q2 nari Fair Value Liabilities Level2 To Level1 Transfers Amount2
FairValueLiabilitiesLevel2ToLevel1TransfersAmount2
0
CY2022Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
283175000
CY2022Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
16000
CY2022Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
409000
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
282782000
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
135949000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
14000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
37000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
135926000
CY2022Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
391000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
285000
CY2022Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
16472000
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
13800000
CY2022Q2 us-gaap Inventory Net
InventoryNet
26674000
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
26988000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
21252000
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6912000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4781000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
20076000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16471000
CY2022Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P1M
CY2020Q4 nari Operating Leases Number Of Lease Period Extension Options
OperatingLeasesNumberOfLeasePeriodExtensionOptions
2
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
42200000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
28600000
CY2020Q4 nari Tenant Allowance
TenantAllowance
13500000
CY2020Q4 nari Tenant Allowance Related To Prepaid Lease Payments
TenantAllowanceRelatedToPrepaidLeasePayments
3700000
CY2020Q4 nari Prepaid Operatingleasepayments
PrepaidOperatingleasepayments
5800000
CY2020Q4 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P229M
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.061
CY2022Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
705000
CY2021Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
199000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
1419000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
398000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1057000
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
186000
us-gaap Operating Lease Cost
OperatingLeaseCost
2100000
us-gaap Operating Lease Cost
OperatingLeaseCost
371000
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
30000
CY2021Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
23000
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
157000
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
81000
us-gaap Variable Lease Cost
VariableLeaseCost
296000
us-gaap Variable Lease Cost
VariableLeaseCost
123000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1124000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2163000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2234000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2295000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2361000
CY2022Q2 nari Lessee Operating Lease Liability Payments Thereafter
LesseeOperatingLeaseLiabilityPaymentsThereafter
39536000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
49713000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
21052000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
28661000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
465000
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
28196000
CY2022Q2 nari Lessee Operating Lease Liability Not Yet Commenced Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityNotYetCommencedPaymentsRemainderOfFiscalYear
90000
CY2022Q2 nari Lessee Operating Lease Liability Not Yet Commenced Payments Due In Next Twelve Months
LesseeOperatingLeaseLiabilityNotYetCommencedPaymentsDueInNextTwelveMonths
284000
CY2022Q2 nari Lessee Operating Lease Liability Not Yet Commenced Payments Due Year Two
LesseeOperatingLeaseLiabilityNotYetCommencedPaymentsDueYearTwo
293000
CY2022Q2 nari Lessee Operating Lease Liability Not Yet Commenced Payments Due Year Three
LesseeOperatingLeaseLiabilityNotYetCommencedPaymentsDueYearThree
300000
CY2022Q2 nari Lessee Operating Lease Liability Not Yet Commenced Payments Due Year Four
LesseeOperatingLeaseLiabilityNotYetCommencedPaymentsDueYearFour
308000
CY2022Q2 nari Lessee Operating Lease Liability Not Yet Commenced Payments Due Thereafter
LesseeOperatingLeaseLiabilityNotYetCommencedPaymentsDueThereafter
1797000
CY2022Q2 nari Lessee Operating Lease Liability Not Yet Commenced Payments Due
LesseeOperatingLeaseLiabilityNotYetCommencedPaymentsDue
3072000
CY2022Q2 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
29000
CY2021Q2 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
29000
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
58000
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
58000
CY2022Q2 nari Research And Development Expense Accrued
ResearchAndDevelopmentExpenseAccrued
2500000
CY2022Q2 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
263000
CY2021Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
191000
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
192000000
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
263000000
CY2022Q2 nari Number Of Letter Of Credit
NumberOfLetterOfCredit
2
CY2021Q4 nari Number Of Letter Of Credit
NumberOfLetterOfCredit
2
CY2022Q2 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
430000
CY2021Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
430000
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
167000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
239000
CY2022Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
174400000
CY2022Q1 nari Underwriters Discounts And Commissions Expenses
UnderwritersDiscountsAndCommissionsExpenses
11200000
CY2022Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
700000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
210000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-10187000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7164000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4604000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13719000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8440000
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
68000000.0
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y
CY2022Q1 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
54808
CY2022Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
503135
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-8935000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4080000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-12064000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
11747000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1252000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1252000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
4068000
us-gaap Net Income Loss
NetIncomeLoss
-13316000
us-gaap Net Income Loss
NetIncomeLoss
11537000
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.140
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.003
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.104
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.018
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
17900000
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.
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, 2016 and December 31, 2017 are open for state and federal tax purposes, respectively.
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49512800
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53183767
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5697181
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55595016
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52075399
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55665193
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
CY2022Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2700000
CY2021Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
900000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
4400000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1800000
CY2022Q2 us-gaap Defined Contribution Plan Increase Decrease Cost
DefinedContributionPlanIncreaseDecreaseCost
1000000.0
us-gaap Defined Contribution Plan Increase Decrease Cost
DefinedContributionPlanIncreaseDecreaseCost
800000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-10187000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
4068000
us-gaap Net Income Loss
NetIncomeLoss
-13316000
us-gaap Net Income Loss
NetIncomeLoss
11537000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53183767
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49669652
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52075399
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.19
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.21
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5697181

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