Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
Please consider a small donation if you think this website provides you with relevant information
| Statement |
|---|
| The FlowTriever and ClotTriever systems are fourth- and third-generation platforms, respectively, benefiting from six years of continuous iteration and improvement |
| In Q4, we continue to see strong growth led first and foremost by our European franchise |
| Finally, we delivered meaningful operating leverage while continuing to invest in burgeoning parts of the business |
| In addition, we laid the foundation for strong sustained revenue growth via expansion of our purpose-built toolkit into new disease states with significant unmet needs |
| We announced our third RCT and built meaningful momentum across new product launches, and we saw another record quarter and strong growth from our international business |
| We are succeeding on our goal to drive strong adoption of our market-leading PE and DVT therapies, while also executing on our plans to expand internationally and diversify commercially into sizable new patient populations that are underserved by today's standard of care |
| For 2024 from a phasing perspective we expect strong revenue growth momentum in the back half of the year |
| So it is a positive contribution margin procedure even today with the existing reimbursement |
| We made some really nice progress on the integration front, and we've also made some nice progress on the initial U.S |
| And for all the reasons you heard from Drew, very optimistic about 2024 as well |
| So I think those numbers are pretty attractive, you know, from a growth perspective, and we feel pleased with the progress and the performance of the business during 2023 |
| So you take all that together, we're very confident in our ability to continue to lead in this market |
| We anticipate continued strong growth there from commercial expansion, from taking share from analytic based interventions, from TAM expansion via market development efforts, new data innovation all of that factored into the anticipated growth in the VTE pillar |
| For the year, we generated record revenue and strong growth of nearly 30%, driven by crisp execution across our growth pillars |
| We have a very capable and well-established commercial presence and field team that are doing good work day-in and day-out |
| Given our high level of national count penetration, as the pace of new territory adds continues to moderate, we have started to see some nice corresponding productivity gains |
| Looking ahead, we remain confident in the ability of our world-class commercial team, the largest VTE-focused sales force in the industry, to drive significant growth |
| This is an attractive market |
| So we saw a nice momentum building in Q4 particularly in the tail end of the quarter, and we saw that momentum carry over here into the beginning of this year |
| That confidence in leadership comes from the performance of our products, the undisputed, solid clinical data that we have, the new innovation, the way our team is executing, all that gives us confidence we're going to continue to be the leader in this market |
| In the fourth quarter, we achieved record revenue of more than $132 million, driven by strength in our core VTE business, strong growth from our emerging therapies portfolio, and continued traction from international expansion |
| On the clinical evidence front, we remain steadfast in our commitment to produce the highest quality clinical data to drive awareness and ultimately change the standard of care in VTE |
| So, taken together, we're feeling really good about how we're positioned here at the beginning of the year |
| We're seeing nice growth across all three of those growth pillars |
| And looking ahead from here, we see some really nice catalysts shaping up for the remainder of the year across those pillars |
| We are thrilled with our Q4 and full year 2023 performance |
| We're making the investments to drive that market growth, and we're continuing to see a very robust backdrop of market growth |
| Finally, we continue to innovate across our best-in-class toolkits to protect and extend our leadership position |
| And then obviously, some nice traction continuing internationally with Europe leading the way, more geographies contributing in more meaningful ways, and still on track in both China and Japan for treating patients in those two markets |
| So far, so good, we're feeling very confident in how we're positioned here, not only in Q1, but as we look out from here through the remainder of the year |
| Statement |
|---|
| Just on the gross margin side, I think 87.1% in the fourth quarter was a bit below where the Street was |
| There's a portion of the gross margin decline that related to the LimFlow acquisition, even though that was just in the picture for about 45 days, we continued to see some margin impact due to the internationalization of the business, as well as the new – some of the emerging therapy products have a lower gross margin profile than the kind of the VTE products that we've historically been selling |
| In 2024 we expect to see greater operating losses in the first half of the year than in the second half of the year |
| Past couple of years, we've seen some seasonality softness in Q2 |
| TAM characterized by tremendous unmet needs and a lack of purpose built tools |
| But until we actually execute the LMR, we'll need to be a little cautious about what kind of contribution we're going to be describing |
| So we've taken this challenge of operating leverage seriously as a company |
| Inari recorded a GAAP operating loss of $9.3 million in the fourth quarter of 2023, compared with a GAAP operating loss of $5.9 million for the same period in the prior year |
| On a non-GAAP basis, which excludes acquisition related expenses and acquired intangible asset amortization, the fourth quarter operating loss was just $300,000 |
| So, first of all, to call the REAL-PE data set a trial, I think is maybe overstating its value |
| Mitch Hill And David, the thing I would add quickly is I think the growth in the emerging therapies is likely to be a little bit lumpy, I guess I would call it |
| As far as the potential impact, we know that CDT has been progressively diminishing as a treatment for pulmonary embolism |
| And that is despite what will undoubtedly be new entrants |
| On a non-GAAP basis, which excludes acquisition related expenses and amortization of acquired intangible assets, operating loss was $2.4 million for the full year 2023 |
| Net loss for the fourth quarter 2023 was $4.7 million, compared to a net loss of $5.8 million for the same period of the prior year |
| We're still not sure about that, if that's a real thing in our business or not, different reasons and theories around that |
| So it has definitely had an impact |
| Net loss for the full year 2023 was $1.6 million, compared to a net loss of $29.3 million for the full year 2022 |
| And as a result of those uncertainties, we've also factored in a pretty modest contribution from both China and Japan into that 2024 guidance |
| And in terms of the Q4 gross margin we saw some impact from the acquisition |
Please consider a small donation if you think this website provides you with relevant information