San Francisco, CA – Inari Medical, Inc., based in San Francisco, held its quarterly earnings conference call on April 30, 2024. The company’s executives discussed their financial performance for the first quarter of 2024. Present on the call were key figures including Drew Hykes, CEO; John Hsu, VP of Investor Relations; and Mitch Hill, CFO. The call included discussions on the company’s revenue growth, ongoing innovation efforts, and strategic objectives for the future.

During the call, leaders highlighted the company’s record revenue of over $143 million in the first quarter, showing a growth of over 23%. They attributed this success to strong execution, market-leading products, and expansion efforts. Additionally, plans to achieve sustained operating profitability in the first half of 2025 were reaffirmed. Executives emphasized the importance of scaling adoption, ongoing portfolio expansion, and leading with high-quality clinical data.

One of the key areas of focus was the upcoming PEERLESS data readout in the second half of the year. This randomized controlled trial is expected to provide valuable insights into patient outcomes using Inari’s FlowTriever device compared to other treatment methods. The company is optimistic about the potential impact of this data on driving further adoption of mechanical thrombectomy for venous thromboembolism.

Regarding international expansion, the company reported strong revenue growth of $9.5 million in the first quarter, up 120% from the previous year. Growth in Europe, Latin America, Canada, and Asia-Pacific markets contributed to this success. Plans to enter the Japanese and Chinese markets by the end of the year were also discussed, showcasing the company’s commitment to global expansion.

In terms of emerging therapies, the introduction of VenaCore, a purpose-built toolkit for chronic venous disease, was highlighted. The company expressed enthusiasm for the product’s performance and its potential impact on patient care. Additionally, plans for the upcoming launch of the Artix Generation 2 system in mid-2024 were mentioned, emphasizing improved efficacy and ease of use.

Overall, Inari Medical remains focused on driving innovation, expanding its product portfolio, and maintaining its position as a market leader in venous thromboembolism technology. The company’s strategic objectives are aligned with its long-term goal of delivering strong, sustainable growth and enhancing patient outcomes in the field of interventional therapies.