7Baggers

Inari Medical, Inc
(NASDAQ:NARI) 

NARI stock logo

Inari Medical, Inc., a commercial-stage medical device company, focuses on developing products to treat and transform the lives of patients suffering from venous diseases in the United States. It offers ClotTriever for treatment of deep vein thrombosis; and FlowTriever, a thrombectomy system for tre...

Founded: 2011
Full Time Employees: 199
CEO: William H. Hoffman  
Sector: Healthcare
Industry: Medical Devices
Medical Devices
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 
                      
      revenue
    		153,390,000 145,820,000 143,194,000 132,094,000 126,366,000 119,005,000 116,167,000 107,771,000 96,204,000 92,744,000 86,752,000 83,218,000 72,916,000 63,453,000 57,397,000 48,611,000 38,715,000 25,392,000 
      yoy
    		21.39% 22.53% 23.27% 22.57% 31.35% 28.32% 33.91% 29.50% 31.94% 46.16% 51.14% 71.19% 88.34% 149.89%     
      qoq
    		5.19% 1.83% 8.40% 4.53% 6.19% 2.44% 7.79% 12.02% 3.73% 6.91% 4.25% 14.13% 14.91% 10.55% 18.07% 25.56% 52.47%  
      cost of goods sold
    		19,846,000 19,993,000 18,893,000 17,006,000 14,477,000 13,844,000 13,741,000 13,128,000 11,064,000 10,347,000 9,967,000 8,280,000 7,040,000 4,814,000 4,623,000 3,686,000 3,228,000 3,487,000 
      gross profit
    		133,544,000 125,827,000 124,301,000 115,088,000 111,889,000 105,161,000 102,426,000 94,643,000 85,140,000 82,397,000 76,785,000 74,938,000 65,876,000 58,639,000 52,774,000 44,925,000 35,487,000 21,905,000 
      yoy
    		19.35% 19.65% 21.36% 21.60% 31.42% 27.63% 33.39% 26.30% 29.24% 40.52% 45.50% 66.81% 85.63% 167.70%     
      qoq
    		6.13% 1.23% 8.01% 2.86% 6.40% 2.67% 8.22% 11.16% 3.33% 7.31% 2.46% 13.76% 12.34% 11.11% 17.47% 26.60% 62.00%  
      gross margin %
    		87.06% 86.29% 86.81% 87.13% 88.54% 88.37% 88.17% 87.82% 88.50% 88.84% 88.51% 90.05% 90.35% 92.41% 91.95% 92.42% 91.66% 86.27% 
      operating expenses
    		                  
      research and development
    		29,431,000 24,905,000 26,880,000 22,892,000 21,492,000 21,085,000 22,064,000 20,412,000 19,105,000 18,569,000 16,135,000 18,726,000 12,499,000 11,630,000 8,163,000 6,536,000 5,217,000 3,628,000 
      selling, general and administrative
    		108,271,000 114,153,000 103,055,000 101,493,000 88,284,000 85,586,000 85,700,000 80,122,000 75,833,000 73,156,000 63,732,000 54,466,000 56,104,000 42,897,000 36,898,000 31,393,000 23,080,000 18,880,000 
      change in fair value of contingent consideration
    		6,578,000 5,728,000 6,303,000                
      amortization of intangible asset
    		2,504,000 2,449,000 2,461,000                
      acquisition-related expenses
    		328,000 1,036,000 2,779,000                
      total operating expenses
    		147,112,000 148,271,000 141,478,000 124,385,000 109,776,000 106,671,000 107,764,000 100,534,000 94,938,000 91,725,000 79,867,000 73,192,000 68,603,000 54,527,000 45,061,000 37,929,000 28,297,000 22,508,000 
      income from operations
    		-13,568,000 -22,444,000 -17,177,000 -9,297,000 2,113,000 -1,510,000 -5,338,000 -5,891,000 -9,798,000 -9,328,000 -3,082,000 1,746,000 -2,727,000 4,112,000 7,713,000 6,996,000 7,190,000 -603,000 
      yoy
    		-742.12% 1386.36% 221.79% 57.82% -121.57% -83.81% 73.20% -437.40% 259.30% -326.85% -139.96% -75.04% -137.93% -781.92%     
      qoq
    		-39.55% 30.66% 84.76% -539.99% -239.93% -71.71% -9.39% -39.88% 5.04% 202.66% -276.52% -164.03% -166.32% -46.69% 10.25% -2.70% -1292.37%  
      operating margin %
    		-8.85% -15.39% -12.00% -7.04% 1.67% -1.27% -4.60% -5.47% -10.18% -10.06% -3.55% 2.10% -3.74% 6.48% 13.44% 14.39% 18.57% -2.37% 
      other income
    		-130,000 23,000 -23,000 3,478,000 -682,000 26,000 39,000 187,000 -59,000 252,000  -14,000 30,000 7,000     
      interest income
    		1,104,000 1,076,000 1,191,000 2,714,000 4,202,000 4,552,000 4,145,000 970,000 618,000 214,000 50,000 24,000 27,000 35,000 68,000 75,000 208,000 146,000 
      interest expense
    		-78,000 -77,000 -78,000 -69,000 -43,000 -44,000 -40,000 -74,000 -74,000 -73,000 -73,000 -75,000 -73,000 -74,000 -73,000 -75,000 -251,000 -463,000 
      total other income
    		896,000 1,022,000 1,090,000 6,123,000 3,477,000 4,534,000 4,144,000 1,083,000 485,000 393,000         
      income before income taxes
    		-12,672,000 -21,422,000 -16,087,000 -3,174,000 5,590,000 3,024,000 -1,194,000 -4,808,000 -9,313,000 -8,935,000 -3,129,000 1,681,000 -2,743,000 4,080,000 7,667,000    
      benefit from income taxes
    		5,695,000 9,926,000 8,115,000 1,491,000 2,428,000 939,000 1,024,000 990,000 840,000 1,252,000  574,000 61,000 12,000 198,000    
      net income
    		-18,367,000 -31,348,000 -24,202,000 -4,665,000 3,162,000 2,085,000 -2,218,000 -5,798,000 -10,153,000 -10,187,000 -3,129,000 1,107,000 -2,804,000 4,068,000 7,469,000    
      yoy
    		-680.87% -1603.50% 991.16% -19.54% -131.14% -120.47% -29.11% -623.76% 262.09% -350.42% -141.89%        
      qoq
    		-41.41% 29.53% 418.80% -247.53% 51.65% -194.00% -61.75% -42.89% -0.33% 225.57% -382.66% -139.48% -168.93% -45.53%     
      net income margin %
    		-11.97% -21.50% -16.90% -3.53% 2.50% 1.75% -1.91% -5.38% -10.55% -10.98% -3.61% 1.33% -3.85% 6.41% 13.01% 0% 0% 0% 
      other comprehensive income
    		                  
      foreign currency translation adjustments
    		13,918,000 -2,359,000 -7,359,000 10,002,000 -68,000 -79,000 9,000 222,000 -406,000 -291,000 -117,000 -110,000 -146,000 57,000 -180,000    
      unrealized gain on available-for-sale debt securities
    		64,000   41,000 91,000   1,572,000 644,000 -125,000 -248,000        
      total other comprehensive income
    		13,982,000   10,043,000 23,000   1,794,000 238,000 -416,000    51,000 -162,000    
      comprehensive income
    		-4,385,000 -33,707,000  5,378,000 3,185,000 911,000  -4,004,000 -9,915,000 -10,603,000 -3,494,000 951,000 -2,943,000 4,119,000 7,307,000    
      net income per share
    		                  
      basic
    		-0.31 -0.54 -0.42 -0.08 0.06 0.04 -0.04 -0.1 -0.19 -0.19 -0.06 0.02 -0.06 0.08 0.15 0.17 0.13 -0.16 
      diluted
    		-0.31 -0.54 -0.42 -0.08 0.05 0.04 -0.04 -0.1 -0.19 -0.19 -0.06 0.02 -0.06 0.07 0.13 0.13 0.12 -0.16 
      weighted-average common shares used to compute net income per share
    		                  
      basic
    		58,366,364 58,142,454 57,938,115 56,770,657 57,384,884 57,207,902 54,756,024 52,837,674 53,491,625 53,183,767 50,954,715 49,815,914 50,001,996 49,669,652 49,355,945 32,033,827 48,335,443 24,295,900 
      diluted
    		58,366,364 58,142,454 57,938,115 56,770,657 58,588,452 58,496,350 54,756,024 52,837,674 53,491,625 53,183,767 50,954,715 55,594,159 50,001,996 55,595,016 55,722,293 51,554,996 55,355,846 24,295,900 
      unrealized loss on available-for-sale debt securities
    		  -4,000   -1,095,000 -865,000            
      total other comprehensive loss
    		 -2,359,000 -7,363,000   -1,174,000 -856,000    -365,000 -62,500 -139,000      
      comprehensive loss
    		  -31,565,000    -3,074,000            
      other incomes
    		          -24,000    -41,000 -11,000 -651,000  
      total other incomes
    		          -47,000 -65,000 -16,000 -32,000 -46,000 -11,000 -694,000 -3,201,000 
      change in fair value of warrant liabilities
    		                 -2,884,000 
      unrealized gain on available-for-sale securities
    		           -46,000 7,000 -6,000 18,000    
      net income and comprehensive income
    		               1,701,000 6,496,000 -3,804,000 
      weighted-average common shares used to compute net income per share,
    		                  
      basic
    		58,366,364 58,142,454 57,938,115 56,770,657 57,384,884 57,207,902 54,756,024 52,837,674 53,491,625 53,183,767 50,954,715 49,815,914 50,001,996 49,669,652 49,355,945 32,033,827 48,335,443 24,295,900 
      diluted
    		58,366,364 58,142,454 57,938,115 56,770,657 58,588,452 58,496,350 54,756,024 52,837,674 53,491,625 53,183,767 50,954,715 55,594,159 50,001,996 55,595,016 55,722,293 51,554,996 55,355,846 24,295,900 
                      
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 
                        
        assets
      		                  
        current assets
      		                  
        cash and cash equivalents
      		41,141,000 70,125,000 66,707,000 38,597,000 89,182,000 57,837,000 56,562,000 60,222,000 83,528,000 79,724,000 186,556,000 92,752,000 81,158,000 91,322,000 102,903,000 114,229,000 167,988,000 194,836,000 
        restricted cash
      		67,000 67,000 500,000 611,000            50,000 50,000 50,000 
        short-term investments in debt securities
      		70,397,000 39,547,000 34,595,000 76,855,000 262,113,000 279,696,000 271,884,000 266,179,000 235,705,000 250,772,000 152,156,000        
        accounts receivable
      		84,403,000 81,631,000 78,621,000 70,119,000 69,595,000 63,128,000 55,719,000 58,611,000 54,059,000 49,171,000 44,950,000 42,351,000 38,916,000 31,497,000 31,304,000 28,008,000 20,837,000 15,392,000 
        inventories
      		55,210,000 49,359,000 44,650,000 42,900,000 40,227,000 38,984,000 36,499,000 32,581,000 29,670,000 26,674,000 23,828,000 21,053,000 19,499,000 18,112,000 13,665,000 10,597,000 7,195,000 5,620,000 
        prepaid expenses and other current assets
      		12,168,000 8,623,000 8,240,000 6,481,000 7,944,000 4,972,000 4,942,000 5,312,000 7,609,000 4,997,000 5,849,000 5,694,000 7,141,000 2,497,000 2,159,000 2,808,000 3,391,000 3,866,000 
        total current assets
      		263,386,000 249,352,000 233,313,000 235,563,000 469,061,000 444,617,000 425,606,000 422,905,000 410,571,000 411,338,000 413,339,000 245,198,000 228,150,000 228,172,000 221,277,000 205,673,000 199,461,000 219,764,000 
        property and equipment
      		24,098,000 23,005,000 20,761,000 20,929,000 21,243,000 21,063,000 21,245,000 21,655,000 21,191,000 20,076,000 18,153,000 16,471,000 14,748,000 10,827,000 6,584,000 7,498,000 5,476,000 4,176,000 
        operating lease right-of-use assets
      		48,301,000 48,824,000 47,610,000 48,407,000 49,065,000 49,857,000 50,599,000 50,703,000 49,951,000 46,653,000 46,401,000 44,909,000 42,855,000 868,000 1,047,000    
        goodwill
      		213,345,000 204,401,000 209,642,000 214,335,000               
        intangible assets
      		143,808,000 143,106,000 145,774,000 150,884,000               
        deposits and other assets
      		4,301,000 4,242,000 4,676,000 4,117,000 9,466,000 9,431,000 9,084,000 8,889,000 6,106,000 6,195,000 6,216,000 981,000 672,000 13,692,000 5,669,000 583,000 536,000 76,000 
        total assets
      		697,239,000 672,930,000 661,776,000 674,235,000 548,835,000 524,968,000 506,534,000 504,152,000 487,819,000 484,262,000 484,109,000 311,542,000 292,427,000 253,559,000 234,577,000 214,092,000 205,811,000 224,354,000 
        liabilities and stockholders' equity
      		                  
        current liabilities
      		                  
        accounts payable
      		15,523,000 16,375,000 12,026,000 10,577,000 10,091,000 7,240,000 7,352,000 7,659,000 6,035,000 4,748,000 6,066,000 6,541,000 5,083,000 10,319,000 5,518,000 3,047,000 3,533,000 2,294,000 
        payroll-related accruals
      		54,797,000 54,363,000 38,748,000 48,706,000 41,305,000 38,290,000 28,443,000 38,955,000 28,052,000 27,695,000 19,729,000 24,433,000 16,987,000 16,041,000 11,550,000 8,198,000 8,596,000 7,223,000 
        accrued expenses and other current liabilities
      		76,881,000 65,605,000 33,544,000 15,364,000 13,040,000 11,125,000 11,018,000 8,249,000 7,668,000 8,076,000 9,155,000 10,737,000 6,583,000 4,429,000 2,758,000 2,593,000 2,198,000 1,385,000 
        operating lease liabilities, current portion
      		1,579,000 1,918,000 1,719,000 1,692,000 1,630,000 1,583,000 1,527,000 1,311,000 588,000 465,000 630,000 802,000 857,000 793,000     
        total current liabilities
      		148,780,000 138,261,000 86,037,000 76,339,000 66,066,000 58,238,000 48,340,000 56,174,000 42,343,000 40,984,000 35,580,000 42,513,000 29,510,000 31,582,000 20,615,000 13,838,000 14,327,000 10,902,000 
        operating lease liabilities, noncurrent portion
      		31,145,000 31,231,000 29,773,000 30,355,000 30,627,000 31,085,000 31,458,000 30,976,000 30,377,000 28,196,000 28,301,000 28,404,000 28,547,000 156,000     
        deferred tax liability
      		36,748,000 35,126,000 35,395,000 36,231,000               
        other long-term liability
      		45,805,000 44,503,000 63,341,000 66,400,000      1,304,000 1,416,000 1,416,000       
        total liabilities
      		262,478,000 249,121,000 214,546,000 209,325,000 96,693,000 89,323,000 79,798,000 87,150,000 72,720,000 70,484,000 65,297,000 72,333,000 58,057,000 31,738,000 20,966,000 13,838,000 14,327,000 40,484,000 
        commitments and contingencies
      		                  
        stockholders' equity
      		                  
        preferred stock, 0.001 par value...
      		                  
        common stock, 0.001 par value...
      		58,000 58,000 58,000 58,000 58,000 57,000 57,000 54,000 53,000 53,000 53,000 50,000 50,000 50,000 50,000 49,000 49,000 48,000 
        additional paid in capital
      		543,961,000 528,624,000 518,338,000 504,453,000 497,063,000 483,752,000 475,754,000 462,949,000 457,043,000 445,807,000 440,238,000 257,144,000 253,256,000 237,764,000 233,673,000 227,624,000 225,843,000 224,726,000 
        accumulated other comprehensive income
      		13,145,000 -837,000 1,522,000 8,885,000 -1,158,000 -1,181,000 -7,000 849,000    -402,000 -246,000 -107,000 -158,000 4,000   
        accumulated deficit
      		-122,403,000 -104,036,000 -72,688,000 -48,486,000 -43,821,000 -46,983,000 -49,068,000 -46,850,000 -41,052,000 -30,899,000 -20,712,000 -17,583,000 -18,690,000 -15,886,000 -19,954,000 -27,423,000 -34,408,000 -40,904,000 
        total stockholders' equity
      		434,761,000 423,809,000 447,230,000 464,910,000 452,142,000 435,645,000 426,736,000 417,002,000 415,099,000 413,778,000 418,812,000 239,209,000 234,370,000 221,821,000 213,611,000 200,254,000 191,484,000 183,870,000 
        total liabilities and stockholders' equity
      		697,239,000 672,930,000 661,776,000 674,235,000 548,835,000 524,968,000 506,534,000 504,152,000 487,819,000 484,262,000 484,109,000 311,542,000 292,427,000 253,559,000 234,577,000    
        long-term investments in debt securities
      		                  
        accumulated other comprehensive loss
      		        -945,000 -1,183,000 -767,000        
        short-term investments
      		           83,348,000 81,436,000 84,744,000 71,246,000 49,981,000   
        long-term investments
      		           3,983,000 6,002,000      
        lease liabilities, current portion
      		              789,000    
        lease liabilities, noncurrent portion
      		              351,000    
        liabilities, mezzanine equity and stockholders' equity
      		                  
        notes payable
      		                 29,582,000 
        warrant liabilities
      		                  
        mezzanine equity
      		                  
        redeemable convertible preferred stock
      		                  
        total liabilities, mezzanine equity and stockholders' equity
      		               214,092,000 205,811,000 224,354,000 
                        
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 
                         
          cash flows from operating activities
        		                 
          net income
        		-18,367,000 -31,348,000 -24,202,000 -4,665,000 3,162,000 2,085,000 -2,218,000 -5,798,000 -10,153,000 -10,187,000 -3,129,000 1,107,000 -2,804,000 4,068,000 7,469,000 6,985,000 6,496,000 
          adjustments to reconcile net income to net cash from operating activities:
        		                 
          depreciation and amortization
        		4,133,000 3,882,000 3,864,000               
          amortization of deferred financing costs
        		22,000 21,000 22,000 17,000 10,000 12,000 8,000 35,000 36,000 36,000 36,000 35,000 32,000 40,000 36,000 39,000 29,000 
          amortization of right-of-use assets
        		1,251,000 855,000 752,000 746,000 740,000 734,000 1,625,000 647,000 574,000 621,000 604,000 737,000 180,000 180,000 177,000   
          share-based compensation expense
        		12,951,000 13,039,000 12,870,000 9,801,000 9,844,000 10,353,000 10,339,000 7,596,000 7,356,000 7,164,000 6,555,000       
          impairment loss on strategic investment
        		   0              
          allowance for credit losses
        		0   -18,000 463,000 -28,000 91,000 395,000 275,000 -13,000 79,000       
          loss on disposal of fixed assets
        		324,000 104,000 8,000 46,000 -4,000 4,000 26,000 71,000          
          impairment of capitalized software development costs
        		                 
          amortization of premium and discount on marketable securities
        		-740,000 -414,000 -553,000 -1,873,000 -3,295,000 -4,302,000 -3,810,000           
          change in fair value of contingent consideration liability
        		6,578,000 5,728,000 6,303,000               
          changes in:
        		                 
          accounts receivable
        		-2,788,000 -3,647,000 -8,672,000 512,000 -7,005,000 -7,388,000 2,827,000 -4,810,000 -5,260,000 -4,265,000 -2,695,000 -3,463,000 -7,428,000 -33,000 -3,437,000 -7,156,000 -5,376,000 
          inventories
        		-5,457,000 -4,831,000 -2,090,000 359,000 -1,463,000 -2,509,000 -3,825,000 -2,982,000 -3,030,000 -2,888,000 -2,788,000 -1,564,000 -1,401,000 -4,450,000 -3,073,000 -3,402,000 -1,575,000 
          prepaid expenses, deposits and other assets
        		-3,045,000 392,000 -625,000 6,443,000 3,942,000 -152,000 504,000 2,117,000 -2,609,000 811,000 261,000 1,095,000 6,781,000 -8,398,000 -2,908,000   
          accounts payable
        		-923,000 4,357,000 1,493,000 -2,092,000 2,853,000 -100,000 -317,000 1,581,000 1,319,000 -1,293,000 -467,000 1,472,000 -5,234,000 4,803,000 2,473,000 -486,000 1,239,000 
          payroll-related accruals, accrued expenses and other liabilities
        		6,146,000 23,163,000 -953,000 4,625,000 5,051,000 9,954,000 -7,787,000 11,253,000 -1,212,000 6,897,000 -6,247,000 13,073,000 3,123,000 6,161,000 3,635,000   
          operating lease liabilities
        		-882,000 -410,000 -505,000 -305,000 -356,000 -309,000 -366,000 -358,000 -21,000 -269,000 -275,000 -198,000 -193,000     
          lease prepayments for lessor's owned leasehold improvements
        		   0 0 0 -458,000 265,000 -1,534,000 -872,000 -2,097,000 -2,791,000      
          net cash from operating activities
        		2,712,000 11,513,000 -12,288,000  15,939,000 9,760,000 -2,013,000 11,255,000 -13,066,000 -3,061,000 -9,100,000 15,007,000 -5,589,000 7,302,000 8,766,000 -1,624,000 5,341,000 
          capital expenditures
        		-3,707,000 -4,580,000 -1,910,000  -1,608,000 -1,229,000 -964,000 -1,778,000 -2,309,000 -3,119,000 -2,745,000 -2,718,000 0 -4,921,000 -1,265,000 -2,384,000 -1,658,000 
          free cash flows
        		-995,000 6,933,000 -14,198,000  14,331,000 8,531,000 -2,977,000 9,477,000 -15,375,000 -6,180,000 -11,845,000 12,289,000 -5,589,000 2,381,000 7,501,000 -4,008,000 3,683,000 
          cash flows from investing activities
        		                 
          purchases of property and equipment
        		-2,888,000 -3,761,000 -1,250,000 -909,000 -1,608,000 -1,229,000 -964,000 -1,778,000 -2,309,000 -3,119,000 -2,745,000 -2,718,000      
          purchases of marketable securities
        		-52,047,000 -17,537,000 -21,501,000 -11,677,000 -110,331,000 -162,111,000 -122,054,000 -157,502,000 -101,289,000 -118,741,000 -112,073,000       
          maturities of marketable securities
        		21,501,000 12,634,000 62,573,000 107,719,000 123,760,000 157,500,000 119,300,000 128,600,000 117,000,000 20,000,000 47,000,000       
          purchases of other investments
        		   0 0 -240,000 -325,000 -2,567,000 0 0 -5,693,000       
          working capital adjustment related to acquisition
        		0                 
          capitalized software development costs
        		-819,000 -819,000 -660,000               
          net cash from investing activities
        		-34,253,000 -5,761,000 39,162,000 -59,716,000 11,821,000 -6,080,000 -4,043,000 -33,247,000 13,402,000 -101,860,000 -73,511,000 -2,657,000 -7,428,000 -18,426,000 -22,511,000 -52,361,000 -1,658,000 
          cash flows from financing activities
        		                 
          proceeds from issuance of common stock under employee stock purchase plan
        		5,281,000 0 3,983,000 1,000 5,748,000 0 4,172,000 0 4,995,000 0 3,427,000 0 3,676,000 0 1,882,000   
          proceeds from exercise of stock options
        		117,000 98,000 145,000 277,000 107,000 214,000 226,000  109,000 156,000 345,000  159,000 192,000 381,000  159,000 
          payment of taxes related to vested equity awards
        		-3,012,000 -2,851,000 -3,113,000               
          net cash from financing activities
        		2,386,000 -2,753,000 1,015,000 -2,410,000 3,467,000 -2,352,000 2,466,000 -1,689,000 3,880,000 -1,595,000 176,542,000 -620,000 2,993,000 -514,000 2,214,000 226,000 -30,531,000 
          effect of foreign exchange rate changes on cash, cash equivalents and restricted cash
        		171,000 -14,000 110,000               
          net increase in cash, cash equivalents and restricted cash
        		-28,984,000 2,985,000 27,999,000               
          cash, cash equivalents and restricted cash beginning of period
        		0 0 39,208,000         0 0 0 114,617,000 0 0 
          cash, cash equivalents and restricted cash end of period
        		-28,984,000 2,985,000 67,207,000         11,594,000 -10,164,000 -11,581,000 102,903,000 -53,759,000 -26,848,000 
          deferred income taxes
        		                 
          gain on previously held investment in limflow
        		                 
          net cash provided (used in) by operating activities
        		                 
          sales of marketable securities
        		                 
          net cash paid for acquisition
        		                 
          issuance of common stock in public offering, net of issuance costs of 11.9 million
        		                 
          payment of taxes related to vested restricted stock units
        		   -2,688,000 -2,388,000 -2,566,000 -1,932,000 -1,890,000 -1,224,000 -1,751,000 -1,624,000 -757,000 -842,000 -706,000 -49,000   
          effect of foreign exchange rate on cash, cash equivalents and restricted cash
        		                 
          net decrease in cash, cash equivalents and restricted cash
        		                 
          cash, cash equivalents and restricted cash beginning of year
        		                 
          cash, cash equivalents and restricted cash end of year
        		                 
          depreciation
        		    1,432,000 1,406,000 1,348,000 1,243,000 1,170,000 1,197,000 1,063,000 926,000 820,000 679,000 609,000 454,000 358,000 
          proceeds from issuance of common stock in public offering, net of issuance costs of 11.9 million
        		        0 0 174,394,000       
          effect of foreign exchange rate changes on cash and cash equivalents
        		    118,000             
          net increase in cash and cash equivalents
        		      -3,660,000           
          cash and cash equivalents beginning of period
        		    0 0 60,222,000 0 0 0 92,752,000       
          cash and cash equivalents end of period
        		    31,345,000 1,275,000 56,562,000 -23,306,000 3,804,000 -106,832,000 186,556,000       
          net decrease in cash and cash equivalents
        		                 
          supplemental disclosures of cash flow information:
        		                 
          cash paid for income taxes
        		     1,333,000 104,000 332,000 788,000 2,208,000 89,000 201,000 113,000 40,000 118,000 72,000 1,000 
          cash paid for interest
        		     33,000 32,000 39,000 37,000 38,000 37,000 38,000 37,000 39,000 37,000 33,000 348,000 
          noncash investing and financing:
        		                 
          lease liabilities arising from obtaining new right-of-use assets
        		     0 1,030,000 1,613,000          
          effect of foreign exchange rate on cash and cash equivalents
        		      -70,000 375,000 -412,000 -316,000 -127,000 -136,000 -140,000 57,000 -183,000   
          loss on extinguishment of debt
        		               0  
          loss on change in fair value of warrant liabilities
        		               0 0 
          proceeds from issuance of common stock in public offering, net of issuance costs
        		                 
          proceeds from exercise of stock options and warrants
        		                 
          proceeds from notes payable
        		               0 0 
          repayments of notes payable
        		               0  
          debt financing costs
        		               10,000 -440,000 
          net increase in cash
        		          93,804,000 11,594,000 -10,164,000 -11,581,000 -11,714,000 -53,759,000 -26,848,000 
          common stock issued on conversion of convertible preferred stock
        		               0 0 
          common stock warrants issued on conversion of preferred stock warrants and the reclassification of the warrant liability
        		               0 0 
          deferred initial public offering cost recorded to additional paid in capital
        		               0 0 
          net decrease in cash
        		        3,804,000         
          amortization of fair value of warrants issued with debt
        		                 
          purchases of short-term investments
        		                 
          maturities of short-term investments
        		                 
          proceeds from issuance of common stock upon initial public offering, net of issuance costs paid
        		               0 0 
          proceeds from subscriptions receivable
        		                 
          lease liabilities arising from obtaining right-of-use assets
        		                 
          accrual of deferred interest obligation associated with debt
        		                 
          share based compensation expense
        		            12,499,000 4,604,000 3,836,000 1,565,000 959,000 
          benefit from doubtful accounts
        		            0 -161,000 139,000  -69,000 
          purchases of marketable security investments
        		                 
          maturities of marketable security investments
        		                 
          proceeds from exercise of warrants
        		                 
          purchase of property and equipment
        		             -4,921,000 -1,265,000 -2,384,000 -1,658,000 
          purchase of short-term investments
        		             -63,505,000 -21,246,000   
          maturity of short-term investments
        		                 
          lease liabilities
        		              -190,000   
          proceeds from issuance of redeemable convertible preferred stock, net of offering costs paid
        		                 
          proceeds from exercise of stock option and warrants
        		                 
          prepaid expenses and other assets
        		                446,000 
          payroll-related accruals, accrued liabilities and other liabilities
        		                2,186,000 
          proceeds from warrants exercises
        		                0