Shares of Inari Medical Inc. (Nasdaq: NARI), an Irvine medical device company that treats patients suffering from venous diseases, rose as much as 10% after reporting fourth-quarter preliminary results that topped analysts’ consensus expectations.
Revenue is expected to be between $82.8 million and $83.3 million for the fourth quarter, up 71% at the midpoint from the same period a year ago. The consensus analyst estimate was $73.2 million.
In after-market trading, shares climbed 10% to $93.50. The company had a $4.3 billion market cap at today’s closing.
“Despite the challenging operating environment, we are pleased with our continued crisp execution, not only commercially but across all of our growth drivers,” Inari CEO Bill Hoffman said in a statement.
The company said doctors treated 7,700 patients, an increase of 1,000 procedures, or 15%, from 6,700 procedures completed in the third quarter.