Here is why Inari Medical Inc. (NARI) stock rallied in the after-hours on Monday?

Inari Medical Inc. (NARI) shares rallied 9.38% in after-hours on Monday, January 10, 2022, and closed at $92.75. Even in the regular trading session, NARI’s stock gained 0.71%. The stock volume remained 0.37 million shares, which was lower than the average daily volume of 0.38 million shares within the past 50 days. NARI shares have fallen 0.14% over the last 12 months, and they have moved down 13.42% in the past week. Over the past three months, the stock has gained 7.25%, while over the past six months, it has declined 7.65%. The company has a current market of $4.44 billion and its outstanding shares stood at 50.00 million.

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NARI latest news

On January 10, 2022, Inari Medical, Inc. (NARI) reported preliminary unaudited fourth quarter 2021 revenue.

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Preliminary financial highlights

  • NARI is expecting preliminary unaudited revenue to be between $82.8 and $83.3 million for the fourth quarter of 2021, which is 14% up Sequentially.
  • For full FY 2021, it is expecting preliminary unaudited revenue in the range of $276.6 and $277.1 million which is a 98% increase if compared with FY 2020.

NARI participation in the upcoming event

Inari Medical, Inc. (NARI)’s management team will present at the 40th Annual J.P. Morgan Healthcare Conference which is to be held on Wednesday, January 12, 2022, at 3:00 p.m. Eastern Time.

NARI latest financial results

On November 09, 2021, Inari Medical, Inc. (NARI) released financial results for its third quarter ended September 30, 2021.

Q3 2021 financial highlights

  • NARI reported revenue of $72.9 million for the third quarter of 2021, compared to $63.5 million for the prior quarter and $38.7 million for the third quarter of 2020.
  • The cost of revenue was $7.04 million in Q3 2021 compared to $3.3 million in Q3 2020.
  • Gross profit was $65.9 million for the third quarter of 2021, compared to $35.5 million for the same period of 2020.
  • Total operating expenses were $68.6 million for Q3 2021, compared to $28.3 million for the third quarter of 2020.
  • It suffered a net loss of $2.8 million and net loss per share of $0.06 for the third quarter of 2021 compared to net income of $6.5 million and net income per share of $0.13 and $0.12 in Q3 2020.
  • The company ended the third quarter with $168.6 million in cash, cash equivalents, and investments.

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The recent improved revenue estimates for Q4 and FY 2021 were the reason behind its after-hours gains on Monday. It can continue its momentum on Tuesday as well.

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