On May 3, 2023, Inari Medical, a prominent medical device company, released its Q1 earnings report. The results were impressive, with the company surpassing estimated earnings by a staggering 82.61%. In fact, the reported earnings per share (EPS) of $-0.04 was significantly higher than the predicted $-0.23 EPS.
Furthermore, Inari Medical’s revenue increased by a remarkable $29.41 million from the same period in the previous year. The company ended the quarter with a robust cash position of $328.4 million in cash, cash equivalents, and short-term investments.
It is worth noting that Inari Medical has outperformed EPS estimates in the last four quarters, including this one. In the previous quarter, the company beat EPS estimates by $0.06, which resulted in a 1.92% drop in the share price the next day.
Inari Medical has also provided financial guidance for the full year 2022. Despite this, the Q1 earnings results are positive, with the company exceeding estimated earnings and revenue increasing from the same period last year. Additionally, Inari Medical’s strong cash position at the end of the quarter is a promising sign for the future.
https://beststocks.com/inari-medical-surpasses-q1-earnings-estimates/
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