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![Inari Medical, Inc. [NARI] reports annual net loss of $1,636.0](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FNARI.png&w=1200&q=75)
Inari Medical, Inc. [NARI] has reported a net loss of $1,636.0 for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $493.6 thousand
Based in IRVINE, California, Inari Medical, Inc. operates in the MANUFACTURING sector.
In the annual report for the period ending December 31, 2023, compared with the previous year, the following financial highlights were observed:
Revenue for the current year stood at $493.6 million, showing a significant increase from $383.5 million in the prior year.
The cost of goods sold for the current period was $59.1 million, higher than the $44.5 million reported in the same period last year, indicating increased operating expenses.
Gross profit for the current year amounted to $434.6 million, compared to $339.0 million in the previous year, reflecting an improvement in profitability.
(Loss) income from operations was reported at ($14.0) million for the current period, an improvement from the ($28.1) million loss incurred in the previous year, indicating better operational performance.
Net (loss) income for the current year was ($1.6) million, an improvement from the ($29.3) million loss reported in the same period last year.
Earnings per share for basic and diluted calculations were $(0.03) and $(0.03) respectively for the current year, compared to $(0.55) for both basic and diluted earnings per share in the prior year.
In summary, the company experienced growth in revenue and gross profit, reduced losses from operations, and improved net income performance in the current reporting period compared to the same period in the previous year. The earnings per share also showed improvements, indicating a positive trend in the company's financial performance.
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