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Sunday, Feb 5, 2023
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Inari Gains on Increased Sales, Patients Treated

Shares of medical device maker Inari Medical Inc. (Nasdaq: NARI) rose in after hours trading about 5.3% to $65.40 per share after reporting second-quarter results.

The Irvine-based firm delivered $25.4 million in revenue and reported a net loss of 16 cents. It surpassed analyst consensus expectations for $13.5 million in sales and a loss of 18 cents per share.

“Importantly, our team and physician partners found a way to treat more patients in the second quarter than in any previous quarter,” Chief Executive Bill Hoffman said in a statement. “In these humbling and uncertain times, we are thankful for the clarity of a mission and a cause bigger than ourselves and business.”

Inari went public in May with shares listed at $16 each. It grossed net proceeds of $163 million from the initial public offering.

It now sports a market cap of nearly $3 billion.

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