$NARI
Inari Medical Inc

2023 Q3 Form 10-Q Financial Statement

#000153104823000024 Filed on August 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $126.4M $119.0M
YoY Change 31.35% 28.32%
Cost Of Revenue $14.48M $13.84M
YoY Change 30.85% 33.8%
Gross Profit $111.9M $105.2M
YoY Change 31.42% 27.63%
Gross Profit Margin 88.54% 88.37%
Selling, General & Admin $88.28M $84.45M
YoY Change 16.42% 15.44%
% of Gross Profit 78.9% 80.31%
Research & Development $21.49M $21.09M
YoY Change 12.49% 13.55%
% of Gross Profit 19.21% 20.05%
Depreciation & Amortization $1.440M $1.406M
YoY Change 23.08% 17.46%
% of Gross Profit 1.29% 1.34%
Operating Expenses $109.8M $106.7M
YoY Change 15.63% 16.29%
Operating Profit $2.113M -$1.510M
YoY Change -121.57% -83.81%
Interest Expense $43.00K $4.508M
YoY Change -41.89% 6075.34%
% of Operating Profit 2.04%
Other Income/Expense, Net $3.477M $26.00K
YoY Change 616.91% -93.38%
Pretax Income $5.590M $3.024M
YoY Change -160.02% -133.84%
Income Tax $2.428M $939.0K
% Of Pretax Income 43.43% 31.05%
Net Earnings $3.162M $2.085M
YoY Change -131.14% -120.47%
Net Earnings / Revenue 2.5% 1.75%
Basic Earnings Per Share $0.06 $0.04
Diluted Earnings Per Share $0.05 $0.04
COMMON SHARES
Basic Shares Outstanding 57.35M shares 57.17M shares
Diluted Shares Outstanding 58.59M shares 58.50M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $351.3M $337.5M
YoY Change 10.04% 2.13%
Cash & Equivalents $89.18M $57.84M
Short-Term Investments $262.1M $279.7M
Other Short-Term Assets $7.900M $4.972M
YoY Change 3.82% -0.5%
Inventory $40.23M $38.98M
Prepaid Expenses
Receivables $69.60M $63.13M
Other Receivables $0.00 $0.00
Total Short-Term Assets $469.1M $444.6M
YoY Change 14.25% 8.09%
LONG-TERM ASSETS
Property, Plant & Equipment $21.24M $70.92M
YoY Change 0.25% 253.26%
Goodwill
YoY Change
Intangibles $0.00 $0.00
YoY Change
Long-Term Investments $8.300M $8.800M
YoY Change
Other Assets $1.200M $9.431M
YoY Change -80.35% 52.24%
Total Long-Term Assets $79.77M $80.35M
YoY Change 3.27% 10.18%
TOTAL ASSETS
Total Short-Term Assets $469.1M $444.6M
Total Long-Term Assets $79.77M $80.35M
Total Assets $548.8M $525.0M
YoY Change 12.51% 8.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.09M $7.240M
YoY Change 67.21% 52.49%
Accrued Expenses $56.00M $51.00M
YoY Change 54.24% 40.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $66.07M $58.24M
YoY Change 56.03% 42.1%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $30.60M $31.09M
YoY Change 2283.82%
Total Long-Term Liabilities $30.60M $31.09M
YoY Change 2283.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $66.07M $58.24M
Total Long-Term Liabilities $30.60M $31.09M
Total Liabilities $96.69M $89.32M
YoY Change 32.97% 26.73%
SHAREHOLDERS EQUITY
Retained Earnings -$43.82M -$46.98M
YoY Change 6.75% 52.05%
Common Stock $497.1M $483.8M
YoY Change 8.76% 8.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $452.1M $435.6M
YoY Change
Total Liabilities & Shareholders Equity $548.8M $525.0M
YoY Change 12.51% 8.41%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $3.162M $2.085M
YoY Change -131.14% -120.47%
Depreciation, Depletion And Amortization $1.440M $1.406M
YoY Change 23.08% 17.46%
Cash From Operating Activities $15.94M $9.760M
YoY Change -222.0% -418.85%
INVESTING ACTIVITIES
Capital Expenditures $1.610M $1.229M
YoY Change -169.73% -139.4%
Acquisitions
YoY Change
Other Investing Activities $13.43M -$4.851M
YoY Change -14.52% -95.09%
Cash From Investing Activities $11.82M -$6.080M
YoY Change -11.8% -94.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.470M -2.352M
YoY Change -10.57% 47.46%
NET CHANGE
Cash From Operating Activities 15.94M 9.760M
Cash From Investing Activities 11.82M -6.080M
Cash From Financing Activities 3.470M -2.352M
Net Change In Cash 31.23M 1.328M
YoY Change 640.75% -101.25%
FREE CASH FLOW
Cash From Operating Activities $15.94M $9.760M
Capital Expenditures $1.610M $1.229M
Free Cash Flow $14.33M $8.531M
YoY Change -233.22% 14608.62%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
239209000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
345000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
3427000 usd
CY2022Q1 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-1624000 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
11900000 usd
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
174394000 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6555000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-365000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-3129000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
418812000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
156000 usd
CY2022Q2 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-1751000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7164000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-416000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-10187000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
413778000 usd
us-gaap Profit Loss
ProfitLoss
-133000 usd
us-gaap Profit Loss
ProfitLoss
-13316000 usd
us-gaap Depreciation
Depreciation
2754000 usd
us-gaap Depreciation
Depreciation
2260000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
20000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
72000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
2359000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1225000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
20692000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
13719000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
63000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
66000 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-30000 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0 usd
us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
8112000 usd
us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
0 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4561000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6960000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
6334000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
5676000 usd
nari Increase Decrease In Prepaid Expenses Deposits And Other Assets
IncreaseDecreaseInPrepaidExpensesDepositsAndOtherAssets
-352000 usd
nari Increase Decrease In Prepaid Expenses Deposits And Other Assets
IncreaseDecreaseInPrepaidExpensesDepositsAndOtherAssets
-1072000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-417000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1760000 usd
nari Increase Decrease In Payroll Related Accruals Accrued Expenses And Other Liabilities
IncreaseDecreaseInPayrollRelatedAccrualsAccruedExpensesAndOtherLiabilities
2167000 usd
nari Increase Decrease In Payroll Related Accruals Accrued Expenses And Other Liabilities
IncreaseDecreaseInPayrollRelatedAccrualsAccruedExpensesAndOtherLiabilities
650000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-675000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-544000 usd
nari Lease Prepayments For Lessors Owned Leasehold Improvements
LeasePrepaymentsForLessorsOwnedLeaseholdImprovements
-458000 usd
nari Lease Prepayments For Lessors Owned Leasehold Improvements
LeasePrepaymentsForLessorsOwnedLeaseholdImprovements
-2969000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7747000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-12161000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2193000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5864000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
284165000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
230814000 usd
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
276800000 usd
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
67000000 usd
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
565000 usd
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
5693000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10123000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-175371000 usd
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
11900000 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
174394000 usd
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
4172000 usd
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
3427000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
440000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
501000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4498000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3375000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
114000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
174947000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-123000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-443000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2385000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-13028000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
60222000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
92752000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
57837000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
79724000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1437000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2297000 usd
us-gaap Interest Paid Net
InterestPaidNet
65000 usd
us-gaap Interest Paid Net
InterestPaidNet
75000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
1030000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Management Estimates</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 condensed consolidated financial statements may include, but are not limited to, collectability of receivables, recoverability of long-lived assets, valuation of inventory, operating lease right-of-use (“ROU”) assets and liabilities, other investments, fair value 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></div>
CY2023Q2 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
1246000 usd
CY2022Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
1218000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
119005000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
92744000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
235172000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
179496000 usd
CY2023Q2 us-gaap Product Warranty Expense
ProductWarrantyExpense
91000 usd
CY2022Q2 us-gaap Product Warranty Expense
ProductWarrantyExpense
97000 usd
us-gaap Product Warranty Expense
ProductWarrantyExpense
354000 usd
us-gaap Product Warranty Expense
ProductWarrantyExpense
209000 usd
CY2023Q2 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
8800000 usd
CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
8300000 usd
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
303111000 usd
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
229000 usd
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
202000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
303138000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
284688000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1871000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
51000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
286508000 usd
CY2023Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
13893000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
13943000 usd
CY2023Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
4130000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
3396000 usd
CY2023Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
20961000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
15242000 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
38984000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
32581000 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
32363000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
30483000 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11300000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8828000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21063000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21655000 usd
CY2023Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P12M
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
49900000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
32700000 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P18Y6M
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
50700000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
32300000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P17Y1M6D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0605
CY2023Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
852000 usd
CY2022Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
705000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
1698000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
1419000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1139000 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1057000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
2319000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
2100000 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
34000 usd
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
30000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
407000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
296000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
1420000 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
1244000 usd
us-gaap Lease Cost
LeaseCost
2789000 usd
us-gaap Lease Cost
LeaseCost
2441000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1747000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3554000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3041000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2920000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2985000 usd
CY2023Q2 nari Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
38544000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
52791000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
20123000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
32668000 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1583000 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
31085000 usd
CY2021Q4 us-gaap Research And Development Arrangement Contract To Perform For Others Costs Incurred Gross
ResearchAndDevelopmentArrangementContractToPerformForOthersCostsIncurredGross
4200000 usd
CY2023Q2 nari Research And Development Arrangement Contract To Perform For Others Costs Incurred Number Of Installments
ResearchAndDevelopmentArrangementContractToPerformForOthersCostsIncurredNumberOfInstallments
3 installment
CY2023Q2 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
29000 usd
CY2022Q2 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
29000 usd
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
59000 usd
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
59000 usd
CY2023Q2 us-gaap Self Insurance Reserve
SelfInsuranceReserve
1700000 usd
CY2023Q2 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
50000 usd
CY2022Q2 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
118000 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
80000 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
192000 usd
CY2022Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
174400000 usd
CY2022Q1 nari Underwriters Discounts And Commissions Expenses
UnderwritersDiscountsAndCommissionsExpenses
11200000 usd
CY2022Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
700000 usd
CY2023Q1 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
86051 shares
CY2023Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
540217 shares
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10353000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7164000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20692000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13719000 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
84500000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y9M18D
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3024000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-8935000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1830000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-12064000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
939000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1252000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1963000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
2085000 usd
us-gaap Net Income Loss
NetIncomeLoss
-13316000 usd
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.140
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.073
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.104
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
30300000 usd
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
us-gaap Deferred Compensation Arrangement With Individual Requisite Service Period1
DeferredCompensationArrangementWithIndividualRequisiteServicePeriod1
P1M
us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
1.00
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Amount
DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount
3000 usd
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.04
CY2022Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2700000 usd
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
4900000 usd
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
4400000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
2085000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-10187000 usd
us-gaap Net Income Loss
NetIncomeLoss
-133000 usd
us-gaap Net Income Loss
NetIncomeLoss
-13316000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57207902 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53183767 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55988736 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52075399 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58496350 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53183767 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55988736 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52075399 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.26
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
736307 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5697181 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3747225 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5697181 shares
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001531048-23-000024-index-headers.html Edgar Link pending
0001531048-23-000024-index.html Edgar Link pending
0001531048-23-000024.txt Edgar Link pending
0001531048-23-000024-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
nari-20230630.htm Edgar Link pending
nari-20230630.xsd Edgar Link pending
nari-20230630xexx311.htm Edgar Link pending
nari-20230630xexx312.htm Edgar Link pending
nari-20230630xexx321.htm Edgar Link pending
nari-20230630xexx322.htm Edgar Link pending
nari-20230630_g1.jpg Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
nari-20230630_cal.xml Edgar Link unprocessable
nari-20230630_def.xml Edgar Link unprocessable
nari-20230630_lab.xml Edgar Link unprocessable
nari-20230630_pre.xml Edgar Link unprocessable
nari-20230630_htm.xml Edgar Link completed
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending