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51.32
1.62%
0.76
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51.32
Why is Inari Medical Inc (NARI) Stock down?
We've noticed a 10.65% decline in Inari Medical Inc (NARI) stock during the 2024-07-31 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
09 Jan, 2024:
Inari Medical Inc (NARI) stock dropped by 10.08% due to the release of its preliminary unaudited financial results for Q4 2023 and full-year 2023, as well as its 2024 revenue guidance and profitability update. Key points include:
- Preliminary Q4 2023 revenue of at least $132.0 million, up 22% YoY.
- Preliminary full-year 2023 revenue of at least $493.5 million, up 29% YoY.
- Full-year 2024 revenue guidance of $580 million to $595 million, with growth of 17.5% to 20.5% over 2023.
- Revised forecast to reach sustained operating profitability in H1 2025, earlier than previously expected (H2 2025). Investor reaction to these announcements likely contributed to the stock's decline. It's important to note that these preliminary figures are subject to revision until the company reports its full financial results for Q4 and full-year 2023.
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