Inari Medical (NARI) 10-Q 2 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Oct. 28, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Document Fiscal Year Focus	2022
Entity File Number	001-39293
Entity Registrant Name	Inari Medical, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-2902923
Entity Address, Address Line One	6001 Oak Canyon
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92618
City Area Code	877
Local Phone Number	923-4747
Title of 12(b) Security	Common stock, $0.001 par value per share
Trading Symbol	NARI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		53,652,850
Entity Central Index Key	0001531048
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 83,528	$ 92,752
Short-term investments in debt securities	235,705	83,348
Accounts receivable, net	54,059	42,351
Inventories , net	29,670	21,053
Prepaid expenses and other current assets	7,609	5,694
Total current assets	410,571	245,198
Property and equipment, net	21,191	16,471
Operating lease right-of-use assets	49,951	44,909
Deposits and other assets	6,106	981
Long-term investments in debt securities	0	3,983
Total assets	487,819	311,542
Current liabilities
Accounts payable	6,035	6,541
Payroll-related accruals	28,052	24,433
Accrued expenses and other current liabilities	7,668	10,737
Operating lease liabilities, current portion	588	802
Total current liabilities	42,343	42,513
Operating lease liabilities, noncurrent portion	30,377	28,404
Other long-term liability	0	1,416
Total liabilities	72,720	72,333
Commitments and contingencies (Note 7)
Stockholders' equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued and outstanding as of September 30, 2022 and December 31, 2021	0	0
Common stock, $0.001 par value, 300,000,000 shares authorized as of September 30, 2022 and December 31, 2021; 53,595,277 and 50,313,452 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively	53	50
Additional paid in capital	457,043	257,144
Accumulated other comprehensive loss	(945)	(402)
Accumulated deficit	(41,052)	(17,583)
Total stockholders' equity	415,099	239,209
Total liabilities and stockholders' equity	$ 487,819	$ 311,542

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, Par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	53,595,277	50,313,452
Common stock, shares outstanding	53,595,277	50,313,452

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 96,204	$ 72,916	$ 275,700	$ 193,766
Cost of goods sold	11,064	7,040	31,378	16,477
Gross profit	85,140	65,876	244,322	177,289
Operating expenses
Research and development	19,105	12,499	53,809	32,292
Selling, general and administrative	75,833	56,104	212,721	135,899
Total operating expenses	94,938	68,603	266,530	168,191
(Loss) income from operations	(9,798)	(2,727)	(22,208)	9,098
Other income (expense)
Interest income	618	27	882	130
Interest expense	(74)	(73)	(220)	(220)
Other income (expense)	(59)	30	169	(4)
Total other income (expenses)	485	(16)	831	(94)
(Loss) Income before income taxes	(9,313)	(2,743)	(21,377)	9,004
Provision for income taxes	840	61	2,092	271
Net (loss) income	(10,153)	(2,804)	(23,469)	8,733
Other comprehensive income (loss)
Foreign currency translation adjustments	(406)	(146)	(814)	(269)
Unrealized gain on available-for-sale debt securities	644	7	271	19
Total other comprehensive income (loss)	238	(139)	(543)	(250)
Comprehensive (loss) income	$ (9,915)	$ (2,943)	$ (24,012)	$ 8,483
Net (loss) income per share
Basic	$ (0.19)	$ (0.06)	$ (0.45)	$ 0.18
Diluted	$ (0.19)	$ (0.06)	$ (0.45)	$ 0.16
Weighted average common shares used to compute net (loss) income per share
Basic	53,491,625	50,001,996	52,552,662	49,664,037
Diluted	53,491,625	50,001,996	52,552,662	55,511,061

Condensed Consolidated Statem_2

Condensed Consolidated Statements Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning Balance at Dec. 31, 2020	$ 200,254	$ 49	$ 227,624	$ 4	$ (27,423)
Beginning Balance, Shares at Dec. 31, 2020		49,251,614
Options exercised for common stock	381	$ 1	380
Options exercised for common stock, Shares		296,019
Issuance of common stock under employee stock purchase plan	1,882		1,882
Shares issued under Employee Stock Purchase Plan		36,881
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for taxes	(49)		(49)
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for taxes, Shares		901
Share-based compensation expense	3,836		3,836
Other comprehensive income (loss)	(162)			(162)
Net (loss) income	7,469				7,469
Ending Balance at Mar. 31, 2021	213,611	$ 50	233,673	(158)	(19,954)
Ending Balance, Shares at Mar. 31, 2021		49,585,415
Beginning Balance at Dec. 31, 2020	200,254	$ 49	227,624	4	(27,423)
Beginning Balance, Shares at Dec. 31, 2020		49,251,614
Net (loss) income	8,733
Ending Balance at Sep. 30, 2021	234,370	$ 50	253,256	(246)	(18,690)
Ending Balance, Shares at Sep. 30, 2021		50,144,590
Beginning Balance at Mar. 31, 2021	213,611	$ 50	233,673	(158)	(19,954)
Beginning Balance, Shares at Mar. 31, 2021		49,585,415
Options exercised for common stock	193		193
Options exercised for common stock, Shares		213,605
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for taxes	(706)		(706)
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for taxes, Shares		29,809
Share-based compensation expense	4,604		4,604
Other comprehensive income (loss)	51			51
Net (loss) income	4,068				4,068
Ending Balance at Jun. 30, 2021	221,821	$ 50	237,764	(107)	(15,886)
Ending Balance, Shares at Jun. 30, 2021		49,828,829
Options exercised for common stock	159		159
Options exercised for common stock, Shares		150,662
Issuance of common stock under employee stock purchase plan	3,676		3,676
Shares issued under Employee Stock Purchase Plan		48,168
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for taxes	(842)		(842)
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for taxes, Shares		116,931
Share-based compensation expense	12,499		12,499
Other comprehensive income (loss)	(139)			(139)
Net (loss) income	(2,804)				(2,804)
Ending Balance at Sep. 30, 2021	234,370	$ 50	253,256	(246)	(18,690)
Ending Balance, Shares at Sep. 30, 2021		50,144,590
Beginning Balance at Dec. 31, 2021	239,209	$ 50	257,144	(402)	(17,583)
Beginning Balance, Shares at Dec. 31, 2021		50,313,452
Options exercised for common stock	345	$ 1	344
Options exercised for common stock, Shares		322,882
Issuance of common stock under employee stock purchase plan	3,427		3,427
Shares issued under Employee Stock Purchase Plan		54,808
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for taxes	(1,624)		(1,624)
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for taxes, Shares		31,763
Issuance of common stock in connection with initial public offering, net of issuance costs of $11.3 million	174,394	$ 2	174,392
Issuance of common stock in public offering, net of issuance costs of $11.9 million		2,300,000
Share-based compensation expense	6,555		6,555
Other comprehensive income (loss)	(365)			(365)
Net (loss) income	(3,129)				(3,129)
Ending Balance at Mar. 31, 2022	418,812	$ 53	440,238	(767)	(20,712)
Ending Balance, Shares at Mar. 31, 2022		53,022,905
Beginning Balance at Dec. 31, 2021	239,209	$ 50	257,144	(402)	(17,583)
Beginning Balance, Shares at Dec. 31, 2021		50,313,452
Net (loss) income	(23,469)
Ending Balance at Sep. 30, 2022	415,099	$ 53	457,043	(945)	(41,052)
Ending Balance, Shares at Sep. 30, 2022		53,595,277
Beginning Balance at Mar. 31, 2022	418,812	$ 53	440,238	(767)	(20,712)
Beginning Balance, Shares at Mar. 31, 2022		53,022,905
Options exercised for common stock	156		156
Options exercised for common stock, Shares		228,313
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for taxes	(1,751)		(1,751)
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for taxes, Shares		54,607
Share-based compensation expense	7,164		7,164
Other comprehensive income (loss)	(416)			(416)
Net (loss) income	(10,187)				(10,187)
Ending Balance at Jun. 30, 2022	413,778	$ 53	445,807	(1,183)	(30,899)
Ending Balance, Shares at Jun. 30, 2022		53,305,825
Options exercised for common stock	109		109
Options exercised for common stock, Shares		167,102
Issuance of common stock under employee stock purchase plan	4,995		4,995
Shares issued under Employee Stock Purchase Plan		78,707
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for taxes	(1,224)		(1,224)
Issuance of common stock upon vesting of restricted stock units, net of shares withheld for taxes, Shares		43,643
Share-based compensation expense	7,356		7,356
Other comprehensive income (loss)	238			238
Net (loss) income	(10,153)				(10,153)
Ending Balance at Sep. 30, 2022	$ 415,099	$ 53	$ 457,043	$ (945)	$ (41,052)
Ending Balance, Shares at Sep. 30, 2022		53,595,277

Condensed Consolidated Statem_3

Condensed Consolidated Statements Stockholders' Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2022	Sep. 30, 2022
Stock issuance cost	$ 11.9	$ 11.9

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities
Net (loss) income	$ (23,469)	$ 8,733
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation	3,430	2,108
Amortization of deferred financing costs	108	108
Amortization of right-of-use assets	1,799	537
Share based compensation expense	21,075	20,939
Allowance for credit losses, net	341	(22)
Loss on disposal of fixed assets	23	0
Changes in:
Accounts receivable	(12,220)	(10,898)
Inventories	(8,706)	(8,924)
Prepaid expenses, deposits and other assets	(1,537)	(4,525)
Accounts payable	(441)	2,042
Payroll-related accruals, accrued expenses and other liabilities	(562)	12,919
Operating lease liabilities	(565)	(574)
Lease prepayments for lessor's owned leasehold improvements	(4,503)	(11,964)
Net cash (used in) provided by operating activities	(25,227)	10,479
Cash flows from investing activities
Purchases of property and equipment	(8,173)	(10,927)
Purchases of marketable securities	(332,103)	(105,438)
Maturities of marketable securities	184,000	68,000
Purchases of other investments	(5,693)	0
Net cash used in investing activities	(161,969)	(48,365)
Cash flows from financing activities
Proceeds from issuance of common stock in public offering, net of issuance costs of $11.9 million	174,394	0
Proceeds from issuance of common stock under employee stock purchase plan	8,422	5,558
Proceeds from exercise of stock options	610	732
Payment of taxes related to vested restricted stock units	(4,599)	(1,597)
Net cash provided by financing activities	178,827	4,693
Effect of foreign exchange rate on cash and cash equivalents	(855)	(266)
Net decrease in cash	(9,224)	(33,459)
Cash and cash equivalents beginning of period	92,752	114,617
Cash and cash equivalents end of period	83,528	81,158
Supplemental disclosures of cash flow information:
Cash paid for income taxes	3,085	271
Cash paid for interest	112	113
Noncash investing and financing:
Lease liabilities arising from obtaining new right-of-use assets	$ 2,334	$ 28,648

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2022	Sep. 30, 2022
Stock issuance cost	$ 11.9	$ 11.9

Organization

Organization	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization Description of Busine ss Inari Medical, Inc. (the “Company”) was incorporated in Delaware in July 2011 and is headquartered in Irvine, California. The Company develops, manufactures, markets and sells devices for the interventional treatment of venous diseases.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies COVID-19 The global healthcare system continues to face an unprecedented challenge as a result of the novel coronavirus, or COVID-19, situation and its impact. COVID-19 may continue to have an adverse impact on significant aspects of the Company and the business, including the demand for products, business operations, and the ability to research and develop and bring to market new products and services. To the extent individuals and hospital systems de-prioritize, delay or cancel deferrable medical procedures as a result of COVID-19, staffing or resource issues, or otherwise, the Company’s business, cash flows, financial condition and results of operations may continue to be negatively affected. The Company continues to focus its efforts on the health and safety of patients, healthcare providers and employees, while executing its mission of transforming lives of venous thromboembolism ("VTE") patients. However, the COVID-19 pandemic may continue to negatively impact the Company's 2022 performance. Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The interim condensed consolidated balance sheet as of September 30, 2022, the condensed consolidated statements of operations and comprehensive income (loss), stockholders’ equity, and cash flows for the three and nine months ended September 30, 2022 and 2021 are unaudited. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect, in the opinion of management, all adjustments of a normal and recurring nature that are necessary for the fair presentation of the Company’s consolidated financial position as of September 30, 2022 and its consolidated results of operations and cash flows for the three and nine months ended September 30, 2022 and 2021. The financial data and the other financial information disclosed in the notes to the condensed consolidated financial statements related to the three and nine months ended September 30, 2022 and 2021 are also unaudited. The condensed consolidated results of operations for any interim period are not necessarily indicative of the results to be expected for the full year or for any other future annual or interim period. The condensed consolidated balance sheet as of December 31, 2021 included herein was derived from the audited financial statements as of that date. These interim condensed consolidated financial statements should be read in conjunction with our audited financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed on February 23, 2022. Principles of Consolidation The condensed consolidated financial statements include the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Management Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates and assumptions made in the accompanying consolidated financial statements may include, but are not limited to, collectability of receivables, recoverability of long-lived assets, valuation of inventory, operating lease right-of-use ("ROU") assets and liabilities, other investments, fair v alue of stock options, recoverability of net deferred tax assets and related valuation allowance, and certain accruals. Estimates are based on historical experience and on various assumptions that the Company believes are reasonable under current circumstances. Actual results could differ materially from those estimates. Management periodically evaluates such estimates and assumptions, and they are adjusted prospectively based upon such periodic evaluation. Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers . Under ASC 606, revenue is recognized when a customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that are within the scope of ASC 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company sells its products primarily to hospitals in the United States utilizing the Company’s direct sales force. The Company recognizes revenue for arrangements where the Company has satisfied its performance obligation of shipping or delivering the product. For sales where the Company’s sales representative hand-deliver products directly to the hospitals, control of the products transfers to the customers upon such hand delivery. For sales where products are shipped, control of the products transfers either upon shipment or delivery of the products to the customer, depending on the shipping terms and conditions. Revenue from product sales is comprised of product revenue, net of product returns, administrative fees and sales rebates. Performance Obligation —The Company has revenue arrangements that consist of a single performance obligation, the shipping or delivery of the Company’s products. The satisfaction of this performance obligation occurs with the transfer of control of the Company’s product to its customers, either upon shipment or delivery of the product. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods. The amount of revenue recognized is based on the transaction price, which represents the invoiced amount, net of administrative fees and sales rebates, where applicable. The Company provides a standard 30-day unconditional right of return period. The Company establishes estimated provisions for returns at the time of sale based on historical experience. Historically, the actual product returns have been immaterial to the Company’s consolidated financial statements. As of September 30, 2022 and December 31, 2021, the Company recorded $ 987,000 and $ 448,000 , respectively, of unbilled receivables, which are included in accounts receivable, net, in the accompanying consolidated balance sheets. Revenue for ClotTriever and FlowTriever products as a percentage of total revenue was derived as follow: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 ClotTriever 31 % 30 % 32 % 33 % FlowTriever 69 % 70 % 68 % 67 % The Company offers payment terms to its customers of less than three months and these terms do not include a significant financing component. The Company excludes taxes assessed by governmental authorities on revenue-producing transactions from the measurement of the transaction price. The Company offers its standard warranty to all customers. The Company does not sell any warranties on a standalone basis. The Company’s warranty provides that its products are free of material defects and conform to specifications, and includes an offer to repair, replace or refund the purchase price of defective products. This assurance does not constitute a service and is not considered a separate performance obligation. The Company estimates warranty liabilities at the time of revenue recognition and records it as a charge to cost of goods sold. Costs associated with product sales include commissions and are recorded in selling, general and administrative ("SG&A") expenses. The Company applies the practical expedient and recognizes commissions as an expense when incurred because the amortization period is less than one year. Other Investments In March 2022, the Company made investments in certain privately held companies, with no readily determinable fair value. The Company measures these investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investments. The Company will monitor the information that becomes available from time to time and adjust the carrying values of these investments if there are identified events or changes in circumstances that have a significant adverse effect on the fair values. As of September 30, 2022, total other investments of $ 5.7 million was included in deposits and other assets on the condensed consolidated balance sheets with no impairment identified.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 Level 1 Level 2 Level 3 Aggregate Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 21,283 $ — $ — $ 21,283 U.S. Treasury securities 3,979 — — 3,979 Corporate debt securities and commercial paper — 15,973 — 15,973 Total included in cash and cash equivalents 25,262 15,973 — 41,235 Investments: U.S. Treasury securities 178,462 — — 178,462 U.S. Government agencies — 26,184 — 26,184 Corporate debt securities and commercial paper — 31,059 — 31,059 Total included in short-term investments 178,462 57,243 — 235,705 Total assets $ 203,724 $ 73,216 $ — $ 276,940 December 31, 2021 Level 1 Level 2 Level 3 Aggregate Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 48,595 $ — $ — $ 48,595 Total included in cash and cash equivalents 48,595 — — 48,595 Investments: U.S. Treasury securities 44,322 — — 44,322 Corporate debt securities and commercial paper — 39,026 — 39,026 Total included in short-term investments 44,322 39,026 — 83,348 U.S. Treasury securities included in 3,983 — — 3,983 Total assets $ 96,900 $ 39,026 $ — $ 135,926 There were no transfers between Levels 1, 2 or 3 for the periods presented.

Cash Equivalents and Investment

Cash Equivalents and Investments	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Cash Equivalents and Investments	4. Cash Equivalents and Investments The following is a summary of the Company’s cash equivalents and investments in debt securities as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 Amortized Cost Basis Unrealized Gain Unrealized Loss Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 21,283 $ — $ — $ 21,283 U.S. Treasury securities 3,979 — — 3,979 Corporate debt securities and commercial paper 15,936 37 — 15,973 Total included in cash and cash equivalents 41,198 37 — 41,235 Investments: U.S. Treasury securities 178,353 363 ( 254 ) 178,462 U.S. Government agencies 26,139 45 — 26,184 Corporate debt securities and commercial paper 31,002 84 ( 27 ) 31,059 Total included in short-term investments 235,494 492 ( 281 ) 235,705 Total assets $ 276,692 $ 529 $ ( 281 ) $ 276,940 December 31, 2021 Amortized Cost Basis Unrealized Gain Unrealized Loss Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 48,595 $ — $ — $ 48,595 Total included in cash and cash equivalents 48,595 — — 48,595 Investments: U.S. Treasury securities 44,349 — ( 27 ) 44,322 Corporate debt securities and commercial paper 39,012 14 — 39,026 Total included in short-term investments 83,361 14 ( 27 ) 83,348 U.S. Treasury securities included in 3,993 — ( 10 ) 3,983 Total assets $ 135,949 $ 14 $ ( 37 ) $ 135,926

Inventories, Net

Inventories, Net	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventories, Net	5. Inventories, net Inventories, net of reserves as of September 30, 2022 and December 31, 2021 totaling $ 626,000 and $ 285,000 , respectively, consist of the following (in thousands): September 30, December 31, Raw materials $ 11,700 $ 5,763 Work-in-process 2,691 1,490 Finished goods 15,279 13,800 $ 29,670 $ 21,053

Property and Equipment. net

Property and Equipment. net	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment. net	6. Property and Equipment, net Property and equipment consist of the following (in thousands): September 30, December 31, Manufacturing equipment $ 12,146 $ 7,408 Leasehold improvements 4,932 4,712 Assets in progress 3,446 3,124 Furniture and fixtures 3,998 3,044 Computer hardware 4,592 2,864 Computer software 100 100 Total property and equipment, gross 29,214 21,252 Accumulated depreciation ( 8,023 ) ( 4,781 ) Total property and equipment, net $ 21,191 $ 16,471 Depreciation expense of $ 947,000 and $ 648,000 was included in SG&A expenses and $ 223,000 and $ 172,000 was included in cost of goods sold for the three months ended September 30, 2022 and 2021, respectively. Depreciation expense of $ 2,774,000 and $ 1,633,000 was included in SG&A expenses and $ 656,000 and $ 475,000 was included in cost of goods sold for the nine months ended September 30, 2022 and 2021 , respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies Operating Leases The Company has operating leases for facilities and certain equipment. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheet. Lease expense for operating leases is recognized on a straight-line basis over the lease term. For lease agreements, other than long-term real estate leases, the Company combines lease and non-lease components. In March 2019, the Company executed a five-year lease for a facility in Irvine, California, where substantially all operations of the Company had been located from September 2019 to September 2021. This five-year lease was originally set to expire in September 2024 and contained two optional extension periods of five years each. Concurrent with the execution of a new ten-year lease in October 2020 (see below), the Company entered into a termination agreement (as amended) that released the Company from the obligations under the five-year lease effective July 2022 and contained options to extend the lease term for up to three periods of an additional 30 days each, which the Company has exercised as of September 30, 2022. In October 2022, the Company amended the lease agreement to cancel the termination agreement and update the lease termination date to September 2024 . In October 2020, the Company entered into a ten-year lease for a facility located in Irvine, California (the “Oak Canyon lease”) with two option extension periods of five years each, which the Company has determined that it is reasonably certain to exercise. The Oak Canyon lease requires the Company to make variable lease payments , which are not included in the lease liability due to the amounts not being fixed, for property taxes, insurance, maintenance, repair costs, and certain improvements deemed to be assets of the lessor. The Oak Canyon lease includes scheduled payment escalation clauses over the lease term. The Oak Canyon lease also requires the Company to maintain a letter of credit for the benefit of the landlord in the amount of $ 1.5 million, which is secured by the Company’s Credit Agreement. The Company has moved in and taken control of the facility and has determined the lease commencement date to be September 30, 2021. On the commencement date, the Company recorded approximately $ 42.2 million and $ 28.6 million of ROU asset and lease liability, respectively. The ROU asset includes approximately $ 13.5 million, net of $ 3.7 million tenant allowance, related to prepaid lease payments for the lessor’s owned leasehold improvements which were reclassified from assets in progress and deposits and other assets. The operating ROU asset also includes $ 7.3 million of additional prepaid lease payments for the lessor's owned leasehold improvements paid subsequent to the commencement date. As of September 30, 2022, the operating lease ROU asset and lease liability related to the Oak Canyon lease were $ 47.6 million and $ 28.4 million, respectively, with the remaining lease term of 226 months. The Company's wholly owned subsidiary, Inari Medical Europe GmbH, entered into a five-year commercial lease agreement for office space located in Basel, Switzerland (the "Basel lease"). The lease commenced on July 1, 2022, with an option to extend for a period of five years , which the Company has determined that it is reasonably certain to exercise and is, therefore, included in the calculation of the ROU asset and lease liability. The lease payment is also indexed to the national consumer price index, which may be adjusted once per calendar year. The Basel lease also requires the Company to maintain a bank guarantee for the benefit of the landlord in the amount of approximately $ 0.2 million, which is secured by two letters of credit issued under the Company’s Credit Agreement. The Basel lease has a remaining lease term of 117 months as of September 30, 2022. As of September 30, 2022, t he weighted average incremental borrowing rate used to measure operating lease liabilities was 6.1 %. Cash paid for amounts included in the measurement of operating lease liabilities was $ 705,000 and $ 186,000 for the three months ended September 30, 2022 and 2021 and $ 2,030,000 and $ 557,000 for the nine months ended September 30, 2022 and 2021, respectively. Total lease cost for the three and nine months ended September 30, 2022, are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Operating lease cost $ 1,039 $ 331 $ 3,139 $ 702 Short-term lease cost 147 69 192 142 Variable lease cost 181 116 477 200 Total lease costs $ 1,367 $ 516 $ 3,808 $ 1,044 Future minimum lease payments under operating leases liabilities as of September 30, 2022 are as follows (in thousands): Year ending December 31: Amount Remainder of 2022 $ 609 2023 2,471 2024 2,550 2025 2,619 2026 2,693 Thereafter 41,478 Total lease payments 52,420 Less imputed interest ( 21,455 ) Total lease liabilities 30,965 Less: lease liabilities - current portion ( 588 ) Lease liabilities - noncurrent portion $ 30,377 The following are future minimum lease payments for the lease amendment discussed above, which has not yet commenced and is not included in ROU assets and operating lease liabilities as of September 30, 2022 (in thousands): Year ending December 31: Amount Remainder of 2022 $ 145 2023 758 2024 584 Total lease payments $ 1,487 Indemnification In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and may provide for general indemnifications. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future but have not yet been made. To date, the Company has not been subject to any claims or required to defend any action related to its indemnification obligations. The Company’s amended and restated certificate of incorporation contains provisions limiting the liability of directors, and its amended and restated bylaws provide that the Company will indemnify each of its directors to the fullest extent permitted under Delaware law. The Company’s amended and restated certificate of incorporation and amended and restated bylaws also provide its board of directors with discretion to indemnify its officers and employees when determined appropriate by the board. In addition, the Company has entered and expects to continue to enter into agreements to indemnify its directors and executive officers. Legal Proceedings From time to time, the Company may become involved in legal proceedings arising out of the ordinary course of its business. Management is currently not aware of any matters that will have a material adverse effect on the consolidated financial position, results of operations or cash flows of the Company. Sublicense Agreement In August 2019, the Company entered into a sublicense agreement of intellectual property rights related to the tubular braiding for the non-surgical removal of clots and treatment of embolism and thrombosis in human vasculature other than carotid arteries, coronary vasculature and cerebral vasculature. Under the sublicense agreement, the Company is required to pay an ongoing quarterly administration fee, which amounted to $ 29,000 for the three months ended September 30, 2022 and 2021 and $ 87,000 for the nine months ended September 30, 2022 and 2021. Additionally, the Company is obligated to pay an ongoing royalty ranging from 1 % to 1.5 % of the net sales of products utilizing the licensed intellectual property, subject to a minimum royalty quarterly fee of $ 1,500 . The Company recorded royalty expense to cost of goods sold of $ 1,500 and $ 201,000 for the three months ended September 30, 2022 and 2021, respectively, and $ 215,000 and $ 586,000 for the nine months ended September 30, 2022 and 2021, respectively. Licensed Technology In December 2021, the Company entered into an exclusive, perpetual, royalty free, technology license agreement (the “Licensed Technology”) for use in a particular research and development project that requires total payments of approximately $ 4.2 million payable in three installments due in 2022 and 2023. The Company accounted for the purchase as a research and development expense in December 2021 as it was determined to have no future alternative uses. As of September 30, 2022, the outstanding balance was approximately $ 1.2 million , which was included in accrued expenses and other current liabilities on the consolidated balance sheets.

Concentrations

Concentrations	9 Months Ended
	Sep. 30, 2022
Risks and Uncertainties [Abstract]
Concentrations	8. Concentrations The Company’s revenue is derived primarily from the sale of catheter-based therapeutic devices in the United States. For the three and nine months ended September 30, 2022 and 2021 , there were no customers that accounted for more than 10 % of the Company’s revenue. As of September 30, 2022 and December 31, 2021 , there were no customers that accounted for more than 10 % of the Company’s accounts receivable. No vendor accounted for more than 10 % of the Company’s purchases for the three and nine months ended September 30, 2022 and 2021 . There were no vendors that accounted for more than 10 % of the Company’s accounts payable as of September 30, 2022 and December 31, 2021 .

Related Party

Related Party	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party	9. Related Party The Company utilizes MRI The Hoffman Group (“MRI”), a recruiting services company owned by the brother of the Chief Executive Officer and President and member of the board of directors of the Company. The Company paid for recruiting services provided by MRI amounting to $ 70,000 and $ 38,000 for the three months ended September 30, 2022 and 2021 and $ 262,000 and $ 301,000 for the nine months ended September 30, 2022 and 2021, respectively, which was included in operating expenses on the condensed consolidated statements of operations and comprehensive income (loss). As of September 30, 2022 and December 31, 2021 , there was no balance payable to MRI.

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	10. Debt Bank of America Credit Facility In September 2020, the Company entered into a senior secured revolving credit facility with Bank of America (the “Credit Agreement”), as amended, under which the Company may borrow loans up to a maximum principal amount of $ 30 million. The amount available to borrow under the Credit Agreement is comprised of a) 85 % of eligible accounts receivable, plus b) pledged cash (up to $10 million). There was no principal amount outstanding and no cash was pledged under the Credit Agreement as of September 30, 2022 and December 31, 2021, and the amount available to borrow under the Credit Agreement was approximatel y $ 28.0 million. Advances under the Credit Agreement will bear interest at a base rate per annum (the “Base Rate”) plus an applicable margin (the “Margin”). The Base Rate equals the greater of (i) the Prime Rate, (ii) the Federal funds rate plus 0.50 % , or (iii) the LIBOR rate based upon an interest period of 30 days plus 1.00 %. The Margin ranges from 1.00 % to 1.50 % based on the Company’s applicable fixed charge coverage ratio. Advances under the Credit Agreement designated as “LIBOR Loans” will bear interest at a rate per annum equal to the LIBOR rate plus the applicable Margin ranging from 2.00 % to 2.50 % based on the Company’s applicable fixed charge coverage ratio. Interest on loans outstanding under the Credit Agreement is payable monthly . Loan principal balances outstanding under the Credit Agreement are due at maturity in September 2023 . The Company may prepay any loans under the Credit Agreement at any time without any penalty or premium. The Company is also required to pay an unused line fee at an annual rate ranging from 0.25 % to 0.375 % per annum of the average daily unused portion of the aggregate revolving credit commitments under the Credit Agreement. The Credit Agreement also includes a Letter of Credit subline facility (the “LC Facility”) of up to $ 5 million. The aggregate stated amount outstanding of letter of credits reduces the total borrowing base available under the Credit Agreement. The Company is required to pay the following fees under the LC Facility are as follows: (a) a fee equal to the applicable margin in effect for LIBOR loans (currently 2.25 %) times the average daily stated amount of outstanding letter of credits; (b) a fronting fee equal to 0.125 % per annum on the stated amount of each letter of credit outstanding. As of September 30, 2022 , the Company had four letters of credit in the aggregated amount of $ 2.0 million outstanding under the LC Facility. As of December 31, 2021, the Company had two letters of credit in the aggregated amount of $ 1.8 million outstanding under the LC Facility. The Credit Agreement contains certain customary covenants and events of default. The Company was in compliance with its covenant requirements as of September 30, 2022 . Obligations under the Credit Agreement are secured by substantially the Company’s assets, excluding intellectual property.

Stockholder's Equity

Stockholder's Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Stockholder's Equity	11. Stockholder’s Equity Common Stock In March 2022, the Company completed an underwritten public offering (“Follow-On Offering”) of 2,300,000 shares of its common stock, including 300,000 shares sold pursuant to the underwriters’ exercise of their option to purchase additional shares, at a public offering price of $ 81.00 per share. The Company received net proceeds of approximately $ 174.4 million, after deducting underwriters’ discounts and commissions of $ 11.2 million and offering costs of $ 0.7 million.

Equity Incentive Plans

Equity Incentive Plans	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plans	12. Equity Incentive Plans In 2011, the Company adopted the 2011 Equity Incentive Plan (the “2011 Plan”) to permit the grant of share-based awards, such as stock grants and incentives and non-qualified stock options to employees, directors, consultants and advisors. The Board has the authority to determine to whom awards will be granted, the number of shares, the term and the exercise price. In March 2020, the Company adopted the 2020 Incentive Award Plan (the “2020 Plan”), which became effective in connection with the IPO. As a result, the Company may not grant any additional awards under the 2011 Plan. The 2011 Plan will continue to govern outstanding equity awards granted thereunder. The Company has initially reserved 3,468,048 shares of common stock for the issuance of a variety of awards under the 2020 Plan, including stock options, stock appreciation rights, awards of restricted stock and awards of restricted stock units. In addition, the number of shares of common stock reserved for issuance under the 2020 Plan will automatically increase on the first day of January for a period of up to ten years , commencing on January 1, 2021, in an amount equal to 3 % of the total number of shares of the Company’s capital stock outstanding on the last day of the preceding year, or a lesser number of shares determined by the Company’s board of directors. As of September 30, 2022, there were 5,696,304 shares available for issuance under the 2020 Plan, including 1,509,404 additional shares reserved effective January 1, 2022. 2011 Equity Incentive Plan Stock Options A summary of stock option activities under the 2011 Plan for the nine months ended September 30, 2022 is as follows (intrinsic value in thousands): Number of Weighted Weighted Weighted Intrinsic Outstanding, December 31, 2021 2,574,354 $ 1.43 $ 1.02 7.07 $ 231,286 Exercised ( 718,297 ) $ 0.85 $ 0.07 $ 54,856 Cancelled ( 17,495 ) $ 2.34 $ 1.41 $ 1,342 Outstanding, September 30, 2022 1,838,562 $ 1.64 $ 1.15 6.38 $ 130,529 Vested and exercisable at September 30, 2022 1,449,196 $ 1.32 $ 0.96 6.26 $ 103,352 Vested and expected to vest at September 30, 2022 1,826,633 $ 1.63 $ 1.14 6.38 $ 129,708 The aggregate intrinsic values of options outstanding, vested and exercisable, and vested and expected to vest were calculated as the difference between the exercise price of the options and the estimated fair value of the Company’s common stock. Restricted Stock Units In March 2019, the Company granted, under the 2011 Plan, restricted stock unit awards (“RSUs”) to certain employees that vest only upon the satisfaction of both a time-based service condition and a performance-based condition. The performance-based condition is a liquidity event requirement that was satisfied on the effective date of the IPO of the Company’s common stock. The RSUs are subject to a four-year cliff vesting and will vest in March 2023. If the RSUs vest, the actual number of RSUs that will vest will be dependent on the per share value of the Company’s common stock, which is a market-based condition, determined based on the average closing price of the Company’s common stock for the three-month period immediately preceding the satisfaction of the service condition. There was no activity related to RSUs under the 2011 Plan during the three and nine months ended September 30, 2022. As of September 30, 2022 and December 31, 2021 , the outstanding balance of RSUs under 2011 Plan was 2,712,674 with a weighted average fair value at the time of grant of $ 0.17 per RSU. 2020 Incentive Award Plan Restricted Stock Units RSUs are share awards that entitle the holder to receive freely tradable shares of the Company’s common stock upon vesting. The RSUs cannot be transferred and the awards are subject to forfeiture if the holder’s employment terminates prior to the release of the vesting restrictions. The RSUs generally vest over a four-year period with straight-line vesting and a 25 % one-year cliff or over a three-year period in equal amounts on a quarterly basis, provided the employee remains continuously employed with the Company. The fair value of the RSUs is equal to the closing price of the Company’s common stock on the grant date. RSU activities under the 2020 Plan is set forth below: Number of Weighted Outstanding, December 31, 2021 611,205 $ 88.34 Granted 602,831 73.94 Vested ( 189,006 ) 84.52 Cancelled ( 42,774 ) 84.77 Outstanding, September 30, 2022 982,256 $ 80.39 The total fair value of RSUs vested under both the 2011 Plan and 2020 Plan was $ 4.5 million and $ 11.4 millio n for the three months ended September 30, 2022 and 2021, and $ 15.3 million and $ 15.1 million for the nine months ended September 30, 2022 and 2021, respectively. Stock-based Compensation Expense Total compensation cost for all share-based payment arrangements recognized, including $ 780,000 and $ 546,000 for the three months ended September 30, 2022 and 2021 and $ 2.5 million and $ 1.9 million for the nine months ended September 30, 2022 and 2021, respectively, related to the Employee Stock Purchase Plan, was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Cost of goods sold $ 386 $ 218 $ 1,126 $ 597 Research and development 1,051 580 3,143 1,601 Selling, general and administrative 5,919 11,701 16,806 18,741 $ 7,356 $ 12,499 $ 21,075 $ 20,939 Total compensation costs as of September 30, 2022 related to all non-vested awards to be recognized in future periods was $ 67.0 million and is expected to be recognized over the remaining weighted average period of 2.9 years. Employee Stock Purchase Plan In May 2020, the Company adopted the 2020 Employee Stock Purchase Plan (“ESPP”), which became effective on the date the ESPP was adopted by the Company’s board of directors. Each offering to the employees to purchase stock under the ESPP will begin on each August 1 and February 1 and will end on the following January 31 and July 31, respectively. The first offering period began on August 1, 2020 . On each purchase date, which falls on the last date of each offering period, ESPP participants will purchase shares of common stock at a price per share equal to 85 % of the lesser of (1) the fair market value per share of the common stock on the offering date or (2) the fair market value of the common stock on the purchase date. The occurrence and duration of offering periods under the ESPP are subject to the determinations of the Company’s Compensation Committee, in its sole discretion. The fair value of the ESPP shares is estimated using the Black-Scholes option pricing model with the following assumptions: Nine Months Ended September 30, 2022 2021 Expected term (in years) 0.5 0.5 Expected volatility 56.09 % 51.91 % Dividend yield 0.00 % 0.00 % Risk free interest rate 0.48 % 0.08 % As of September 30, 2022 , a total of 218,564 shares of common stock, including 78,707 shares purchased in July 2022, have been purchased under the ESPP, and a total of 1,767,957 shares of common stock, including 503,135 additional shares effective January 1, 2022, are reserved for future purchases.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes The following table reflects the Company’s provision for income taxes for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (Loss) income before income taxes $ ( 9,313 ) $ ( 2,743 ) $ ( 21,377 ) $ 9,004 Provision for income taxes 840 61 2,092 271 Net (loss) income $ ( 10,153 ) $ ( 2,804 ) $ ( 23,469 ) $ 8,733 Provision for income taxes as a percentage 9.0 % 2.2 % 9.8 % 3.0 % The effective tax rate for all periods is driven by pre-tax income/(loss), business credits, equity compensation, state taxes, and the change in valuation allowance. The Company's income tax provision for interim reporting periods has historically been calculated by applying an estimate of the annual effective income tax rate for the full year to "ordinary" income (loss) for the interim reporting period, which is calculated as pre-tax income (loss) excluding unusual and infrequently occurring discrete items. For the nine months ended September 30, 2022, we calculated the income tax provision using a discrete effective income tax rate method as if the interim year to date period was an annual period. We determined that since normal changes in estimated "ordinary" income (loss) would result in disproportionate changes in the estimated annual effective income tax rate, the Company's historical method of calculating its income tax provision for interim reporting periods would not provide a reliable estimate for the nine months ended September 30, 2022. For tax years beginning after December 31, 2021, certain research and development costs are required to be capitalized and amortized over a five year period under the Tax Cuts and Jobs Act, which was signed into law December 22, 2017. The Company has reviewed and incorporated this change, which will impact the expected U.S. federal and state tax expense and cash taxes to be paid for the tax year ending December 31, 2022. Valuation Allowance ASC 740 requires that the tax benefit of net operating losses, or NOLs, temporary differences and credit carryforwards be recorded as an asset to the extent that management assesses that realization is “more likely than not.” Realization of the future tax benefits is dependent on the Company’s ability to generate sufficient taxable income within the carryback or carryforward periods. As of December 31, 2021, the Company maintained a full valuation allowance of $ 17.9 million against the Company's net deferred tax assets. As of September 30, 2022, the Company believes that the deferred tax assets are currently not considered more likely than not to be realized and, accordingly, has maintained a full valuation allowance against its deferred tax assets. The Company will continue to assess its position on the realizability of its deferred tax assets, until such time as sufficient positive evidence may become available to allow the Company to reach a conclusion that a significant portion of the valuation allowance will no longer be needed. Any release of the valuation allowance may result in a material benefit recognized in the quarter of release. Uncertain Tax Positions The Company has recorded uncertain tax positions related to its federal and California research and development credit carryforwards. No interest or penalties have been recorded related to the uncertain tax positions due to credit carryforwards that are available to offset the uncertain tax positions. It is not expected that there will be a significant change in the uncertain tax position in the next twelve months. The Company is subject to U.S. federal and state income tax as well as to income tax in various foreign jurisdictions. In the normal course of business, the Company is subject to examination by tax authorities. As of the date of the financial statements, there are no income tax examinations in progress. The statute of limitations for tax years ended after December 31, 2016 and December 31, 2017 are open for state and federal tax purposes, respectively.

Retirement Plan

Retirement Plan	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Retirement Plan	14. Retirement Plan In December 2017, the Company adopted the Inari Medical, Inc. 401(k) Plan which allows eligible employees after one month of service to contribute pre-tax and Roth contributions to the plan, as allowed by law. The plan assets are held by Vanguard and the plan administrator is Ascensus Trust Company. Beginning in January 2021, the Company contributes a $ 1.00 match for every $ 1.00 contributed by a participating employee up to the greater of $ 3,000 or 4 % of eligible compensation under the plan, with such Company's contributions becoming fully vested immediately. Matching contribution expense was $ 1.7 million and $ 0.8 million for the three months ended September 30, 2022 and 2021, and $ 6.2 million and $ 2.6 million for the nine months ended September 30, 2022 and 2021 , respectively. The Company recorded an out-of-period adjustment in the second quarter of 2022 resulting in additional matching contribution expense of $ 0.8 million for the nine months ended September 30, 2022. The out-of-period adjustment was not considered material to the fiscal 2021 or fiscal 2022 annual consolidated financial statements.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	15. Net Income (Loss) Per Share The components of net income per share are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Numerator: Net (loss) income (in thousands) $ ( 10,153 ) $ ( 2,804 ) $ ( 23,469 ) $ 8,733 Denominator: Weighted average number of common shares 53,491,625 50,001,996 52,552,662 49,664,037 Common stock equivalents from outstanding — — — 2,927,569 Common stock equivalents from unvested RSUs — — — 2,917,867 Common stock equivalents from ESPP — — — 847 Common stock equivalents from restricted stock — — — 741 Weighted average number of common shares 53,491,625 50,001,996 52,552,662 55,511,061 Net (loss) income per share: Basic $ ( 0.19 ) $ ( 0.06 ) $ ( 0.45 ) $ 0.18 Diluted $ ( 0.19 ) $ ( 0.06 ) $ ( 0.45 ) $ 0.16 The following outstanding potentially dilutive common stock equivalents have been excluded from the calculation of diluted net loss per share for the three and nine months ended September 30, 2022 and the three months ended September 30, 2021 due to their anti-dilutive effect: Three and Nine Months Ended September 30, 2022 Three Months Ended September 30, 2021 Common stock options 1,838,562 2,732,986 RSUs 3,694,930 2,778,176 Restricted stock subject to future vesting — 741 5,533,492 5,511,903

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
COVID-19 and the Act	COVID-19 The global healthcare system continues to face an unprecedented challenge as a result of the novel coronavirus, or COVID-19, situation and its impact. COVID-19 may continue to have an adverse impact on significant aspects of the Company and the business, including the demand for products, business operations, and the ability to research and develop and bring to market new products and services. To the extent individuals and hospital systems de-prioritize, delay or cancel deferrable medical procedures as a result of COVID-19, staffing or resource issues, or otherwise, the Company’s business, cash flows, financial condition and results of operations may continue to be negatively affected. The Company continues to focus its efforts on the health and safety of patients, healthcare providers and employees, while executing its mission of transforming lives of venous thromboembolism ("VTE") patients. However, the COVID-19 pandemic may continue to negatively impact the Company's 2022 performance.
Basis of Presentation of Unaudited Interim Condensed Consolidated Financial Statements	Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The interim condensed consolidated balance sheet as of September 30, 2022, the condensed consolidated statements of operations and comprehensive income (loss), stockholders’ equity, and cash flows for the three and nine months ended September 30, 2022 and 2021 are unaudited. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect, in the opinion of management, all adjustments of a normal and recurring nature that are necessary for the fair presentation of the Company’s consolidated financial position as of September 30, 2022 and its consolidated results of operations and cash flows for the three and nine months ended September 30, 2022 and 2021. The financial data and the other financial information disclosed in the notes to the condensed consolidated financial statements related to the three and nine months ended September 30, 2022 and 2021 are also unaudited. The condensed consolidated results of operations for any interim period are not necessarily indicative of the results to be expected for the full year or for any other future annual or interim period. The condensed consolidated balance sheet as of December 31, 2021 included herein was derived from the audited financial statements as of that date. These interim condensed consolidated financial statements should be read in conjunction with our audited financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed on February 23, 2022.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Management Estimates	Management Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates and assumptions made in the accompanying consolidated financial statements may include, but are not limited to, collectability of receivables, recoverability of long-lived assets, valuation of inventory, operating lease right-of-use ("ROU") assets and liabilities, other investments, fair v alue of stock options, recoverability of net deferred tax assets and related valuation allowance, and certain accruals. Estimates are based on historical experience and on various assumptions that the Company believes are reasonable under current circumstances. Actual results could differ materially from those estimates. Management periodically evaluates such estimates and assumptions, and they are adjusted prospectively based upon such periodic evaluation.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers . Under ASC 606, revenue is recognized when a customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that are within the scope of ASC 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company sells its products primarily to hospitals in the United States utilizing the Company’s direct sales force. The Company recognizes revenue for arrangements where the Company has satisfied its performance obligation of shipping or delivering the product. For sales where the Company’s sales representative hand-deliver products directly to the hospitals, control of the products transfers to the customers upon such hand delivery. For sales where products are shipped, control of the products transfers either upon shipment or delivery of the products to the customer, depending on the shipping terms and conditions. Revenue from product sales is comprised of product revenue, net of product returns, administrative fees and sales rebates. Performance Obligation —The Company has revenue arrangements that consist of a single performance obligation, the shipping or delivery of the Company’s products. The satisfaction of this performance obligation occurs with the transfer of control of the Company’s product to its customers, either upon shipment or delivery of the product. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods. The amount of revenue recognized is based on the transaction price, which represents the invoiced amount, net of administrative fees and sales rebates, where applicable. The Company provides a standard 30-day unconditional right of return period. The Company establishes estimated provisions for returns at the time of sale based on historical experience. Historically, the actual product returns have been immaterial to the Company’s consolidated financial statements. As of September 30, 2022 and December 31, 2021, the Company recorded $ 987,000 and $ 448,000 , respectively, of unbilled receivables, which are included in accounts receivable, net, in the accompanying consolidated balance sheets. Revenue for ClotTriever and FlowTriever products as a percentage of total revenue was derived as follow: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 ClotTriever 31 % 30 % 32 % 33 % FlowTriever 69 % 70 % 68 % 67 % The Company offers payment terms to its customers of less than three months and these terms do not include a significant financing component. The Company excludes taxes assessed by governmental authorities on revenue-producing transactions from the measurement of the transaction price. The Company offers its standard warranty to all customers. The Company does not sell any warranties on a standalone basis. The Company’s warranty provides that its products are free of material defects and conform to specifications, and includes an offer to repair, replace or refund the purchase price of defective products. This assurance does not constitute a service and is not considered a separate performance obligation. The Company estimates warranty liabilities at the time of revenue recognition and records it as a charge to cost of goods sold. Costs associated with product sales include commissions and are recorded in selling, general and administrative ("SG&A") expenses. The Company applies the practical expedient and recognizes commissions as an expense when incurred because the amortization period is less than one year. Other Investments In March 2022, the Company made investments in certain privately held companies, with no readily determinable fair value. The Company measures these investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investments. The Company will monitor the information that becomes available from time to time and adjust the carrying values of these investments if there are identified events or changes in circumstances that have a significant adverse effect on the fair values. As of September 30, 2022, total other investments of $ 5.7 million was included in deposits and other assets on the condensed consolidated balance sheets with no impairment identified.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Schedule of Revenue for Products as Percentage of Total Revenue	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 ClotTriever 31 % 30 % 32 % 33 % FlowTriever 69 % 70 % 68 % 67 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value	The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 Level 1 Level 2 Level 3 Aggregate Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 21,283 $ — $ — $ 21,283 U.S. Treasury securities 3,979 — — 3,979 Corporate debt securities and commercial paper — 15,973 — 15,973 Total included in cash and cash equivalents 25,262 15,973 — 41,235 Investments: U.S. Treasury securities 178,462 — — 178,462 U.S. Government agencies — 26,184 — 26,184 Corporate debt securities and commercial paper — 31,059 — 31,059 Total included in short-term investments 178,462 57,243 — 235,705 Total assets $ 203,724 $ 73,216 $ — $ 276,940 December 31, 2021 Level 1 Level 2 Level 3 Aggregate Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 48,595 $ — $ — $ 48,595 Total included in cash and cash equivalents 48,595 — — 48,595 Investments: U.S. Treasury securities 44,322 — — 44,322 Corporate debt securities and commercial paper — 39,026 — 39,026 Total included in short-term investments 44,322 39,026 — 83,348 U.S. Treasury securities included in 3,983 — — 3,983 Total assets $ 96,900 $ 39,026 $ — $ 135,926

Cash Equivalents and Investme_2

Cash Equivalents and Investments (Tables)	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Summary of Cash Equivalents and Investments	The following is a summary of the Company’s cash equivalents and investments in debt securities as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 Amortized Cost Basis Unrealized Gain Unrealized Loss Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 21,283 $ — $ — $ 21,283 U.S. Treasury securities 3,979 — — 3,979 Corporate debt securities and commercial paper 15,936 37 — 15,973 Total included in cash and cash equivalents 41,198 37 — 41,235 Investments: U.S. Treasury securities 178,353 363 ( 254 ) 178,462 U.S. Government agencies 26,139 45 — 26,184 Corporate debt securities and commercial paper 31,002 84 ( 27 ) 31,059 Total included in short-term investments 235,494 492 ( 281 ) 235,705 Total assets $ 276,692 $ 529 $ ( 281 ) $ 276,940 December 31, 2021 Amortized Cost Basis Unrealized Gain Unrealized Loss Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 48,595 $ — $ — $ 48,595 Total included in cash and cash equivalents 48,595 — — 48,595 Investments: U.S. Treasury securities 44,349 — ( 27 ) 44,322 Corporate debt securities and commercial paper 39,012 14 — 39,026 Total included in short-term investments 83,361 14 ( 27 ) 83,348 U.S. Treasury securities included in 3,993 — ( 10 ) 3,983 Total assets $ 135,949 $ 14 $ ( 37 ) $ 135,926

Inventories, Net (Tables)

Inventories, Net (Tables)	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories, Net	Inventories, net of reserves as of September 30, 2022 and December 31, 2021 totaling $ 626,000 and $ 285,000 , respectively, consist of the following (in thousands): September 30, December 31, Raw materials $ 11,700 $ 5,763 Work-in-process 2,691 1,490 Finished goods 15,279 13,800 $ 29,670 $ 21,053

Property and Equipment. net (Ta

Property and Equipment. net (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consist of the following (in thousands): September 30, December 31, Manufacturing equipment $ 12,146 $ 7,408 Leasehold improvements 4,932 4,712 Assets in progress 3,446 3,124 Furniture and fixtures 3,998 3,044 Computer hardware 4,592 2,864 Computer software 100 100 Total property and equipment, gross 29,214 21,252 Accumulated depreciation ( 8,023 ) ( 4,781 ) Total property and equipment, net $ 21,191 $ 16,471

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of total lease cost	Total lease cost for the three and nine months ended September 30, 2022, are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Operating lease cost $ 1,039 $ 331 $ 3,139 $ 702 Short-term lease cost 147 69 192 142 Variable lease cost 181 116 477 200 Total lease costs $ 1,367 $ 516 $ 3,808 $ 1,044
Schedule of Future Minimum Lease Payments Under Operating Leases Liabilities	Future minimum lease payments under operating leases liabilities as of September 30, 2022 are as follows (in thousands): Year ending December 31: Amount Remainder of 2022 $ 609 2023 2,471 2024 2,550 2025 2,619 2026 2,693 Thereafter 41,478 Total lease payments 52,420 Less imputed interest ( 21,455 ) Total lease liabilities 30,965 Less: lease liabilities - current portion ( 588 ) Lease liabilities - noncurrent portion $ 30,377
Summary of Minimum Future Rental Payments on Operating Lease Not Yet Commenced	The following are future minimum lease payments for the lease amendment discussed above, which has not yet commenced and is not included in ROU assets and operating lease liabilities as of September 30, 2022 (in thousands): Year ending December 31: Amount Remainder of 2022 $ 145 2023 758 2024 584 Total lease payments $ 1,487

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2022
Summary of Stock Option Activity	A summary of stock option activities under the 2011 Plan for the nine months ended September 30, 2022 is as follows (intrinsic value in thousands): Number of Weighted Weighted Weighted Intrinsic Outstanding, December 31, 2021 2,574,354 $ 1.43 $ 1.02 7.07 $ 231,286 Exercised ( 718,297 ) $ 0.85 $ 0.07 $ 54,856 Cancelled ( 17,495 ) $ 2.34 $ 1.41 $ 1,342 Outstanding, September 30, 2022 1,838,562 $ 1.64 $ 1.15 6.38 $ 130,529 Vested and exercisable at September 30, 2022 1,449,196 $ 1.32 $ 0.96 6.26 $ 103,352 Vested and expected to vest at September 30, 2022 1,826,633 $ 1.63 $ 1.14 6.38 $ 129,708
Summary of RSU Activity	RSU activities under the 2020 Plan is set forth below: Number of Weighted Outstanding, December 31, 2021 611,205 $ 88.34 Granted 602,831 73.94 Vested ( 189,006 ) 84.52 Cancelled ( 42,774 ) 84.77 Outstanding, September 30, 2022 982,256 $ 80.39
Schedule of Total Compensation Cost for All Share-Based Payment Arrangements Recognized	Total compensation cost for all share-based payment arrangements recognized, including $ 780,000 and $ 546,000 for the three months ended September 30, 2022 and 2021 and $ 2.5 million and $ 1.9 million for the nine months ended September 30, 2022 and 2021, respectively, related to the Employee Stock Purchase Plan, was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Cost of goods sold $ 386 $ 218 $ 1,126 $ 597 Research and development 1,051 580 3,143 1,601 Selling, general and administrative 5,919 11,701 16,806 18,741 $ 7,356 $ 12,499 $ 21,075 $ 20,939
2020 Employee Share Purchase Plan
Schedule of Estimated Fair Value of Option Grant and ESPP	The fair value of the ESPP shares is estimated using the Black-Scholes option pricing model with the following assumptions: Nine Months Ended September 30, 2022 2021 Expected term (in years) 0.5 0.5 Expected volatility 56.09 % 51.91 % Dividend yield 0.00 % 0.00 % Risk free interest rate 0.48 % 0.08 %

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes	The following table reflects the Company’s provision for income taxes for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (Loss) income before income taxes $ ( 9,313 ) $ ( 2,743 ) $ ( 21,377 ) $ 9,004 Provision for income taxes 840 61 2,092 271 Net (loss) income $ ( 10,153 ) $ ( 2,804 ) $ ( 23,469 ) $ 8,733 Provision for income taxes as a percentage 9.0 % 2.2 % 9.8 % 3.0 %

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Components of Net Income per Share	The components of net income per share are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Numerator: Net (loss) income (in thousands) $ ( 10,153 ) $ ( 2,804 ) $ ( 23,469 ) $ 8,733 Denominator: Weighted average number of common shares 53,491,625 50,001,996 52,552,662 49,664,037 Common stock equivalents from outstanding — — — 2,927,569 Common stock equivalents from unvested RSUs — — — 2,917,867 Common stock equivalents from ESPP — — — 847 Common stock equivalents from restricted stock — — — 741 Weighted average number of common shares 53,491,625 50,001,996 52,552,662 55,511,061 Net (loss) income per share: Basic $ ( 0.19 ) $ ( 0.06 ) $ ( 0.45 ) $ 0.18 Diluted $ ( 0.19 ) $ ( 0.06 ) $ ( 0.45 ) $ 0.16
Schedule of Outstanding Potentially Dilutive Common Stock Equivalents Excluded from Calculation of Diluted Net Loss Per Share	The following outstanding potentially dilutive common stock equivalents have been excluded from the calculation of diluted net loss per share for the three and nine months ended September 30, 2022 and the three months ended September 30, 2021 due to their anti-dilutive effect: Three and Nine Months Ended September 30, 2022 Three Months Ended September 30, 2021 Common stock options 1,838,562 2,732,986 RSUs 3,694,930 2,778,176 Restricted stock subject to future vesting — 741 5,533,492 5,511,903

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Summary of Significant Accounting Policies [Line Items]
Other investments	$ 5,700,000
Accounts Receivable, Net
Summary of Significant Accounting Policies [Line Items]
Unbilled receivables	$ 987,000	$ 448,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Revenue for Products as Percentage of Total Revenue (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
ClotTriever Products
Revenue from External Customer [Line Items]
Percentage of total revenue	31%	30%	32%	33%
FlowTriever Products
Revenue from External Customer [Line Items]
Percentage of total revenue	69%	70%	68%	67%

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Level 1
Assets
Total included in cash and cash equivalents	$ 25,262	$ 48,595
Total included in short-term investments	178,462	44,322
Assets Fair Value Disclosure, Total	203,724	96,900
Level 1 | US Treasury Securities
Assets
Total included in cash and cash equivalents	3,979
Total included in short-term investments	178,462	44,322
Level 1 | US Treasury Securities | Long-Term Investments
Assets
Total included in short-term investments		3,983
Level 1 | U.S. Government Agencies
Assets
Total included in short-term investments	0
Level 1 | Corporate Debt Securities and Commercial Paper
Assets
Total included in cash and cash equivalents	0
Total included in short-term investments	0	0
Level 1 | Money Market Mutual Funds
Assets
Total included in cash and cash equivalents	21,283	48,595
Level 2
Assets
Total included in cash and cash equivalents	15,973	0
Total included in short-term investments	57,243	39,026
Assets Fair Value Disclosure, Total	73,216	39,026
Level 2 | US Treasury Securities
Assets
Total included in cash and cash equivalents	0
Total included in short-term investments	0	0
Level 2 | US Treasury Securities | Long-Term Investments
Assets
Total included in short-term investments		0
Level 2 | U.S. Government Agencies
Assets
Total included in short-term investments	26,184
Level 2 | Corporate Debt Securities and Commercial Paper
Assets
Total included in cash and cash equivalents	15,973
Total included in short-term investments	31,059	39,026
Level 2 | Money Market Mutual Funds
Assets
Total included in cash and cash equivalents	0	0
Level 3
Assets
Total included in cash and cash equivalents	0	0
Total included in short-term investments	0	0
Assets Fair Value Disclosure, Total	0	0
Level 3 | US Treasury Securities
Assets
Total included in cash and cash equivalents	0
Total included in short-term investments	0	0
Level 3 | US Treasury Securities | Long-Term Investments
Assets
Total included in short-term investments		0
Level 3 | U.S. Government Agencies
Assets
Total included in short-term investments	0
Level 3 | Corporate Debt Securities and Commercial Paper
Assets
Total included in cash and cash equivalents	0
Total included in short-term investments	0	0
Level 3 | Money Market Mutual Funds
Assets
Total included in cash and cash equivalents	0	0
Fair Value Measurements Recurring
Assets
Total included in cash and cash equivalents	41,235	48,595
Total included in short-term investments	235,705	83,348
Assets Fair Value Disclosure, Total	276,940	135,926
Fair Value Measurements Recurring | US Treasury Securities
Assets
Total included in cash and cash equivalents	3,979
Total included in short-term investments	178,462	44,322
Fair Value Measurements Recurring | US Treasury Securities | Long-Term Investments
Assets
Total included in short-term investments		3,983
Fair Value Measurements Recurring | U.S. Government Agencies
Assets
Total included in short-term investments	26,184
Fair Value Measurements Recurring | Corporate Debt Securities and Commercial Paper
Assets
Total included in cash and cash equivalents	15,973
Total included in short-term investments	31,059	39,026
Fair Value Measurements Recurring | Money Market Mutual Funds
Assets
Total included in cash and cash equivalents	$ 21,283	$ 48,595

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details)	Sep. 30, 2022 USD ($)
Fair Value Disclosures [Abstract]
Fair value, assets, Level 1 to Level 2 transfers, amount	$ 0
Fair value, assets, Level 2 to Level 1 transfers, amount	0
Fair value, liabilities, Level 1 to Level 2 transfers, amount	0
Fair value, liabilities, Level 2 to Level 1 transfers, amount	$ 0

Cash Equivalents and Investme_3

Cash Equivalents and Investments - Summary of Cash Equivalents and Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Cash Equivalents and Short-Term Investments, Amortized Cost Basis	$ 276,692	$ 135,949
Cash Equivalents and Short-Term Investments, Unrealized Gain	529	14
Cash Equivalents and Short-Term Investments, Unrealized Loss	(281)	(37)
Cash Equivalents and Short-Term Investments, Fair Value	276,940	135,926
Short-Term Investments
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Cash Equivalents and Short-Term Investments, Amortized Cost Basis	235,494	83,361
Cash Equivalents and Short-Term Investments, Unrealized Gain	492	14
Cash Equivalents and Short-Term Investments, Unrealized Loss	(281)	(27)
Cash Equivalents and Short-Term Investments, Fair Value	235,705	83,348
Short-Term Investments | US Treasury Securities
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Cash Equivalents and Short-Term Investments, Amortized Cost Basis	178,353	44,349
Cash Equivalents and Short-Term Investments, Unrealized Gain	363	0
Cash Equivalents and Short-Term Investments, Unrealized Loss	(254)	(27)
Cash Equivalents and Short-Term Investments, Fair Value	178,462	44,322
Short-Term Investments | U.S. Government Agencies
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Cash Equivalents and Short-Term Investments, Amortized Cost Basis	26,139
Cash Equivalents and Short-Term Investments, Unrealized Gain	45
Cash Equivalents and Short-Term Investments, Unrealized Loss	0
Cash Equivalents and Short-Term Investments, Fair Value	26,184
Short-Term Investments | Corporate Debt Securities and Commercial Paper
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Cash Equivalents and Short-Term Investments, Amortized Cost Basis	31,002	39,012
Cash Equivalents and Short-Term Investments, Unrealized Gain	84	14
Cash Equivalents and Short-Term Investments, Unrealized Loss	(27)	0
Cash Equivalents and Short-Term Investments, Fair Value	31,059	39,026
Long-Term Investments
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Cash Equivalents and Short-Term Investments, Amortized Cost Basis		3,993
Cash Equivalents and Short-Term Investments, Unrealized Gain		0
Cash Equivalents and Short-Term Investments, Unrealized Loss		(10)
Cash Equivalents and Short-Term Investments, Fair Value		3,983
Cash and Cash Equivalents
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Cash Equivalents and Short-Term Investments, Amortized Cost Basis	41,198	48,595
Cash Equivalents and Short-Term Investments, Unrealized Gain	37	0
Cash Equivalents and Short-Term Investments, Unrealized Loss	0	0
Cash Equivalents and Short-Term Investments, Fair Value	41,235	48,595
Cash and Cash Equivalents | Money Market Mutual Funds
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Cash Equivalents and Short-Term Investments, Amortized Cost Basis	21,283	48,595
Cash Equivalents and Short-Term Investments, Unrealized Gain	0	0
Cash Equivalents and Short-Term Investments, Unrealized Loss	0	0
Cash Equivalents and Short-Term Investments, Fair Value	21,283	$ 48,595
Cash and Cash Equivalents | US Treasury Securities
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Cash Equivalents and Short-Term Investments, Amortized Cost Basis	3,979
Cash Equivalents and Short-Term Investments, Unrealized Gain	0
Cash Equivalents and Short-Term Investments, Unrealized Loss	0
Cash Equivalents and Short-Term Investments, Fair Value	3,979
Cash and Cash Equivalents | Corporate Debt Securities and Commercial Paper
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Cash Equivalents and Short-Term Investments, Amortized Cost Basis	15,936
Cash Equivalents and Short-Term Investments, Unrealized Gain	37
Cash Equivalents and Short-Term Investments, Unrealized Loss	0
Cash Equivalents and Short-Term Investments, Fair Value	$ 15,973

Inventories, Net - Additional I

Inventories, Net - Additional Information (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventory reserves	$ 626,000	$ 285,000

Inventories, Net - Schedule of

Inventories, Net - Schedule of Inventories, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 11,700	$ 5,763
Work in process	2,691	1,490
Finished goods	15,279	13,800
Inventory, net	$ 29,670	$ 21,053

Property and Equipment. net - S

Property and Equipment. net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 29,214	$ 21,252
Accumulated depreciation	(8,023)	(4,781)
Property and equipment, net	21,191	16,471
Manufacturing Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	12,146	7,408
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	4,932	4,712
Assets In Progress
Property Plant And Equipment [Line Items]
Property and equipment, gross	3,446	3,124
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property and equipment, gross	3,998	3,044
Computer Hardware
Property Plant And Equipment [Line Items]
Property and equipment, gross	4,592	2,864
Computer Software
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 100	$ 100

Property and Equipment. net - A

Property and Equipment. net - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Property Plant And Equipment [Line Items]
Depreciation expense			$ 3,430,000	$ 2,108,000
SG&A Expenses
Property Plant And Equipment [Line Items]
Depreciation expense	$ 947,000	$ 648,000	2,774,000	1,633,000
Cost of Goods Sold
Property Plant And Equipment [Line Items]
Depreciation expense	$ 223,000	$ 172,000	$ 656,000	$ 475,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)		1 Months Ended			3 Months Ended		9 Months Ended
	Mar. 31, 2019 ExtensionPeriod	Oct. 31, 2022	Oct. 31, 2020 USD ($) ExtensionPeriod	Mar. 31, 2019	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Lessee Lease Description [Line Items]
Operating lease, number of extension options | ExtensionPeriod			2
Operating lease right-of-use assets			$ 42,200,000		$ 49,951,000		$ 49,951,000		$ 44,909,000
Operating lease liability			$ 28,600,000		$ 30,965,000		$ 30,965,000
Operating lease, remaining lease term			226 months
Weighted average incremental borrowing rate					6.10%		6.10%
Cash paid for amounts included in the measurement of lease liabilities					$ 705,000	$ 186,000	$ 2,030,000	$ 557,000
Administration fee					29,000	29,000	87,000	87,000
Research and Development Expense					19,105,000	12,499,000	53,809,000	32,292,000
Research and Development Expense Accrued					1,200,000		1,200,000
Other Liabilities, Noncurrent					0		0		1,416,000
Accrued expenses and other current liabilities					7,668,000		7,668,000		$ 10,737,000
Prepaid OperatingLeasePayments			$ 7,300,000
Tenant allowance			13,500,000
Tenant allowance related to prepaid lease payments			3,700,000
Bank Guarantee Deposit
Lessee Lease Description [Line Items]
Secured debt					200,000		200,000
Inceptus Medical Inc [Member]
Lessee Lease Description [Line Items]
Royalty Expense					1,500	$ 201,000	215,000	$ 586,000
Research and Development Expense [Member]
Lessee Lease Description [Line Items]
Research and Development Expense							4,200,000
Accrued expenses and other current liabilities					$ 1,200,000		$ 1,200,000
Letter of Credit
Lessee Lease Description [Line Items]
Secured debt			$ 1,500,000
Maximum
Lessee Lease Description [Line Items]
Operating lease, term of contract	12 months			12 months
Maximum | Inceptus Medical Inc [Member]
Lessee Lease Description [Line Items]
Related party transaction, rate							1.50%
Minimum | Inceptus Medical Inc [Member]
Lessee Lease Description [Line Items]
Payments for Royalties							$ 1,500
Related party transaction, rate							1%
Irvine, California
Lessee Lease Description [Line Items]
Operating lease, term of contract	5 years		10 years	5 years
Operating lease, expiration date	Sep. 30, 2024
Operating lease, number of extension options | ExtensionPeriod	2
Option to extend, operating lease, term	5 years		5 years	5 years
Operating lease, Existence of option to extend			true	true
Irvine, California | Subsequent Event
Lessee Lease Description [Line Items]
Operating lease, expiration date		Sep. 30, 2024
Switzerland
Lessee Lease Description [Line Items]
Operating lease, term of contract					5 years		5 years
Option to extend, operating lease, term					5 years		5 years
Operating lease, remaining lease term					117 months		117 months
Oak Canyon [Member]
Lessee Lease Description [Line Items]
Operating lease right-of-use assets					$ 47,600,000		$ 47,600,000
Operating lease liability					$ 28,400,000		$ 28,400,000

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of total lease cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Lessee, Lease, Description [Line Items]
Operating Lease, Cost	$ 1,039	$ 331	$ 3,139	$ 702
Short-term Lease, Cost	147	69	192	142
Variable Lease, Cost	181	116	477	200
Leasehold Improvements
Lessee, Lease, Description [Line Items]
Lease, Cost, Total	$ 1,367	$ 516	$ 3,808	$ 1,044

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Future Minimum Lease Payments Under Operating Leases Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Oct. 31, 2020
Lessee, Operating Lease, Liability, to be Paid [Abstract]
Remainder of 2022	$ 609
2023	2,471
2024	2,550
2025	2,619
2026	2,693
Thereafter	41,478
Total lease payments	52,420
Less imputed interest	(21,455)
Operating Lease, Liability, Total	30,965		$ 28,600
Less: lease liabilities - current portion	(588)	$ (802)
Lease liabilities - noncurrent portion	$ 30,377	$ 28,404

Commitments and Contingencies_4

Commitments and Contingencies - Summary of Minimum Future Rental Payments on Operating Lease Not Yet Commenced (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2022	$ 145
2023	758
2024	584
Total lease payments	$ 1,487

Concentrations - Additional Inf

Concentrations - Additional Information (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022 Customer Vendor	Sep. 30, 2021 Customer Vendor	Sep. 30, 2022 Vendor Customer	Sep. 30, 2021 Vendor Customer	Dec. 31, 2021 Vendor Customer
Revenue | Customer Concentration Risk
Concentration Risk [Line Items]
Number of customers | Customer	0	0	0	0
Revenue | Customer Concentration Risk | Minimum [Member]
Concentration Risk [Line Items]
Concentration risk	10%	10%	10%	10%
Accounts Receivable | Customer Concentration Risk
Concentration Risk [Line Items]
Number of customers | Customer			0		0
Accounts Receivable | Customer Concentration Risk | Minimum [Member]
Concentration Risk [Line Items]
Concentration risk			10%		10%
Purchases | Supplier Concentration Risk
Concentration Risk [Line Items]
Number of vendor | Vendor	0	0	0	0
Purchases | Supplier Concentration Risk | Minimum [Member]
Concentration Risk [Line Items]
Concentration risk	10%	10%	10%	10%
Accounts Payable | Supplier Concentration Risk
Concentration Risk [Line Items]
Number of vendor | Vendor			0		0
Accounts Payable | Supplier Concentration Risk | Minimum [Member]
Concentration Risk [Line Items]
Concentration risk			10%		10%

Related Party - Additional Info

Related Party - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Administration fee	$ 29,000	$ 29,000	$ 87,000	$ 87,000
MRI The Hoffman Group
Related Party Transaction [Line Items]
Due to related parties	0		0		$ 0
Inceptus
Related Party Transaction [Line Items]
Royalty expense	1,500	201,000	$ 215,000	586,000
Inceptus | Minimum
Related Party Transaction [Line Items]
Related party transaction, rate			1%
Royalty quarterly fee			$ 1,500
Inceptus | Maximum
Related Party Transaction [Line Items]
Related party transaction, rate			1.50%
Recruiting Services | MRI The Hoffman Group | Operating expenses
Related Party Transaction [Line Items]
Development expenses incurred	$ 70,000	$ 38,000	$ 262,000	$ 301,000

Debt - Additional Information (

Debt - Additional Information (Details)	1 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($) LetterOfCredit	Sep. 30, 2020 USD ($)	Sep. 30, 2022 USD ($) LetterOfCredit	Dec. 31, 2021 USD ($) LetterOfCredit
Debt Instrument [Line Items]
Number of Letter of Credit | LetterOfCredit	4		4	2
Bank of America Credit Facility | Credit Agreement
Debt Instrument [Line Items]
Line of credit facility covenant terms	The Credit Agreement contains certain customary covenants and events of default.
Bank of America Credit Facility | Senior Secured Revolving Credit Facility | Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 30,000,000
Percentage of accounts receivable available to borrow		85%
Principal amount outstanding			$ 0	$ 0
Line of credit facility, remaining borrowing capacity	$ 28,000,000		28,000,000	28,000,000
Cash pledged under credit agreement	$ 0		0	0
Interest on loans outstanding payable	monthly
Debt maturity month and year	2023-09
Bank of America Credit Facility | Senior Secured Revolving Credit Facility | Credit Agreement | Federal Funds Rate
Debt Instrument [Line Items]
Debt instrument, description of variable rate basis	the Federal funds rate plus 0.50%
Term loan variable interest rate	0.50%
Bank of America Credit Facility | Senior Secured Revolving Credit Facility | Credit Agreement | LIBOR
Debt Instrument [Line Items]
Debt instrument, description of variable rate basis	the LIBOR rate based upon an interest period of 30 days plus 1.00%.
Term loan variable interest rate	1%
Bank of America Credit Facility | Senior Secured Revolving Credit Facility | Credit Agreement | LIBOR | LIBOR Loans
Debt Instrument [Line Items]
Term loan variable interest rate	2%
Bank of America Credit Facility | Senior Secured Revolving Credit Facility | Credit Agreement | Maximum
Debt Instrument [Line Items]
Term loan variable interest rate	1.50%
Unused line fee at annual rate	0.375%
Bank of America Credit Facility | Senior Secured Revolving Credit Facility | Credit Agreement | Maximum | LIBOR | LIBOR Loans
Debt Instrument [Line Items]
Term loan variable interest rate	2.50%
Bank of America Credit Facility | Senior Secured Revolving Credit Facility | Credit Agreement | Minimum
Debt Instrument [Line Items]
Term loan variable interest rate	1%
Unused line fee at annual rate	0.25%
Bank of America Credit Facility | Letter of Credit Subline Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 5,000,000		5,000,000
Percentage of fee on average daily stated amount of outstanding letter of credit	2.25%
Percentage of fronting fee on stated amount of each letter of credit outstanding	0.125%
Letters of credit outstanding amount	$ 2,000,000		$ 2,000,000	$ 1,800,000

Stockholder's Equity- Additiona

Stockholder's Equity- Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2022	Mar. 31, 2022	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2021
Class Of Stock [Line Items]
Underwriters' discounts and commissions		$ 11,200
Net proceeds from IPO		$ 174,400		$ 174,394	$ 0
Offering costs	$ 700
IPO [Member]
Class Of Stock [Line Items]
Public offering price						$ 81
Stock issued	2,300,000
Over-Allotment Option [Member]
Class Of Stock [Line Items]
Sale of stock, shares issued		300,000
Common Stock
Class Of Stock [Line Items]
Stock issued			2,300,000

Equity Incentive Plans - Additi

Equity Incentive Plans - Additional Information (Details) - USD ($)

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Jul. 31, 2022

May 31, 2020

Mar. 31, 2019

Sep. 30, 2022

Mar. 31, 2022

Sep. 30, 2021

Mar. 31, 2021

Mar. 31, 2020

Sep. 30, 2022

Sep. 30, 2021

Dec. 31, 2021

Jan. 01, 2022

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Shares of common stock reserved for future issuance

503,135

Stock-based compensation expense

$ 7,356,000

$ 12,499,000

$ 21,075,000

$ 20,939,000

Compensation costs related to all non-vested awards to be recognized in future

$ 67,000,000

$ 67,000,000

Non vested stock awards, expected remaining weighted average period

2 years 10 months 24 days

Common stock purchased under ESPP

78,707

Common Stock

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Common stock purchased under ESPP

78,707

54,808

48,168

36,881

Restricted Stock Units

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Award vesting period

4 years

Employee Stock Purchase Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock-based compensation expense

$ 780,000

$ 546,000

$ 2,500,000

1,900,000

2020 Incentive Award Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Shares of common stock reserved for future issuance

3,468,048

Percentage of annual increase in shares reserved for issuance on capital stock outstanding at year end

3%

Number of shares available for issuance

5,696,304

5,696,304

Number of shares granted

602,831

Restricted stock units, vested

189,006

Outstanding balance

982,256

982,256

611,205

Weighted Average Fair Value, Granted

$ 73.94

2020 Incentive Award Plan | Restricted Stock Units

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Award vesting period

4 years

Share-based compensation vesting rights, terms

The RSUs generally vest over a four-year period with straight-line vesting and a 25% one-year cliff or over a three-year period in equal amounts on a quarterly basis, provided the employee remains continuously employed with the Company.

2020 Incentive Award Plan | Employee Stock Purchase Plan | Share Based Compensation Award Tranche One

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Cliff vesting, percentage

25%

2020 Incentive Award Plan | Maximum

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Term of award

10 years

2011 Equity Incentive Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Shares of common stock reserved for future issuance

1,509,404

1,509,404

Total fair value of RSUs vested

$ 4,500,000

$ 11,400,000

$ 15,300,000

$ 15,100,000

2011 Equity Incentive Plan | Restricted Stock Units

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Restricted stock units, vested

0

0

Outstanding balance

2,712,674

2,712,674

2,712,674

Weighted Average Fair Value, Granted

$ 0.17

$ 0.17

2020 Employee Share Purchase Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Shares of common stock reserved for future issuance

1,767,957

1,767,957

First offering start date

Aug. 01, 2020

Percentage of purchase price on fair market value of common stock

85%

2020 Employee Share Purchase Plan | Common Stock

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Common stock purchased under ESPP

218,564

Equity Incentive Plans - Summar

Equity Incentive Plans - Summary of Stock Option Activity (Details) - 2011 Equity Incentive Plan $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Number of Awards
Number of Awards, Outstanding, Beginning balance | shares	2,574,354
Number of Awards, Exercised | shares	(718,297)
Number of Awards, Cancelled | shares	(17,495)
Number of Awards, Outstanding, Ending balance | shares	1,838,562	2,574,354
Number of Awards, Vested and exercisable | shares	1,449,196
Number of Awards, Vested and expected to vest | shares	1,826,633
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding, Beginning balance	$ 1.43
Weighted Average Exercise Price, Exercised	0.85
Weighted Average Exercise Price, Cancelled	2.34
Weighted Average Exercise Price, Outstanding, Ending balance	1.64	$ 1.43
Weighted Average Exercise Price, Vested and exercisable	1.32
Weighted Average Exercise Price, Vested and expected to vest	1.63
Weighted Average Fair Value
Weighted Average Fair Value, Outstanding, Beginning balance	1.02
Weighted Average Fair Value, Exercised	0.07
Weighted Average Fair Value, Cancelled	1.41
Weighted Average Fair Value, Outstanding, Ending balance	1.15	$ 1.02
Weighted Average Fair Value, Vested and exercisable	0.96
Weighted Average Fair Value, Vested and expected to vest	$ 1.14
Weighted Average Remaining Contractual Life (in years)
Weighted Average Remaining Contractual Life (in years), Outstanding	6 years 4 months 17 days	7 years 25 days
Weighted Average Remaining Contractual Life (in years), Vested and exercisable	6 years 3 months 3 days
Weighted Average Remaining Contractual Life (in years), Vested and expected to vest	6 years 4 months 17 days
Intrinsic Value
Intrinsic Value, Outstanding, Beginning balance | $	$ 231,286
Intrinsic Value, Exercised | $	54,856
Intrinsic Value, Cancelled | $	1,342
Intrinsic Value, Outstanding, Ending balance | $	130,529	$ 231,286
Intrinsic Value, Vested and exercisable | $	103,352
Intrinsic Value, Vested and expected to vest | $	$ 129,708

Equity Incentive Plans - Schedu

Equity Incentive Plans - Schedule of Estimated Fair Value of Option Grant and ESPP on Date of Grant (Details) - 2020 Employee Share Purchase Plan	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected remaining term in years	6 months	6 months
Expected volatility	56.09%	51.91%
Dividend yield	0%	0%
Risk free interest rate	0.48%	0.08%

Equity Incentive Plans - Summ_2

Equity Incentive Plans - Summary of RSU Activity (Details) - 2020 Incentive Award Plan	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Number of Awards
Number of Awards, Outstanding, Beginning balance | shares	611,205
Number of shares granted | shares	602,831
Number of Awards, Vested | shares	(189,006)
Number of Awards, Cancelled | shares	(42,774)
Number of Awards, Outstanding, Ending balance | shares	982,256
Weighted Average Fair Value
Weighted Average Fair Value, Outstanding, Beginning balance | $ / shares	$ 88.34
Weighted Average Fair Value, Granted | $ / shares	73.94
Weighted Average Fair Value, Vested | $ / shares	84.52
Weighted Average Fair Value, Cancelled | $ / shares	84.77
Weighted Average Fair Value, Outstanding, Ending balance | $ / shares	$ 80.39

Equity Incentive Plans - Sche_2

Equity Incentive Plans - Schedule of Total Compensation Cost for All Share-Based Payment Arrangements Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total compensation cost	$ 7,356	$ 12,499	$ 21,075	$ 20,939
Cost of Goods Sold
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total compensation cost	386	218	1,126	597
Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total compensation cost	1,051	580	3,143	1,601
Selling, General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total compensation cost	$ 5,919	$ 11,701	$ 16,806	$ 18,741

Income Taxes - Schedule of Prov

Income Taxes - Schedule of Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
(Loss) income before income taxes	$ (9,313)			$ (2,743)			$ (21,377)	$ 9,004
Provision for income taxes	840			61			2,092	271
Net (loss) income	$ (10,153)	$ (10,187)	$ (3,129)	$ (2,804)	$ 4,068	$ 7,469	$ (23,469)	$ 8,733
Provision for income taxes as a percentage of (loss) income before income taxes	9%			2.20%			9.80%	3%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Deferred tax assets, valuation allowance		$ 17,900
Interest or penalties related to uncertain tax positions	$ 0
Significant change in unrecognized tax position, description	It is not expected that there will be a significant change in the uncertain tax position in the next twelve months.
Income tax examination, description	In the normal course of business, the Company is subject to examination by tax authorities. As of the date of the financial statements, there are no income tax examinations in progress. The statute of limitations for tax years ended after December 31, 2016 and December 31, 2017 are open for state and federal tax purposes, respectively.

Retirement Plan - Additional In

Retirement Plan - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
401 (k) Plan			us-gaap:QualifiedPlanMember
Employer contributions by plan participant			$ 1
Employee contributions by plan participant			$ 1
Participating employee eligible compensation			4%
Matching contribution expense recognized	$ 1,700,000	$ 800,000	$ 6,200,000	$ 2,600,000
Additional matching contribution expense			800,000
Maximum
Defined Benefit Plan Disclosure [Line Items]
Participating employee up to greater			$ 3,000

Net Income (Loss) Per Share - C

Net Income (Loss) Per Share - Computation of Net Income per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net income	$ (10,153)	$ (10,187)	$ (3,129)	$ (2,804)	$ 4,068	$ 7,469	$ (23,469)	$ 8,733
Weighted average common shares used to compute net (loss) income per share
Basic	53,491,625			50,001,996			52,552,662	49,664,037
Weighted average number of common shares outstanding - diluted	53,491,625			50,001,996			52,552,662	55,511,061
Earnings Per Share, Basic [Abstract]
Basic	$ (0.19)			$ (0.06)			$ (0.45)	$ 0.18
Earnings Per Share, Diluted [Abstract]
Diluted	$ (0.19)			$ (0.06)			$ (0.45)	$ 0.16
Common Stock Options
Weighted average common shares used to compute net (loss) income per share
Common stock equivalents	0			0			0	2,927,569
Unvested RSUs
Weighted average common shares used to compute net (loss) income per share
Common stock equivalents	0			0			0	2,917,867
ESPP
Weighted average common shares used to compute net (loss) income per share
Common stock equivalents	0			0			0	847
Restricted Stock
Weighted average common shares used to compute net (loss) income per share
Common stock equivalents	0			0			0	741

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Schedule of Outstanding Potentially Dilutive Common Stock Equivalents Excluded from Calculation (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	5,533,492	5,511,903	5,533,492
Common Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,838,562	2,732,986	1,838,562
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	3,694,930	2,778,176	3,694,930
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	0	741	0

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Subsequent Event [Line Items]
Stock-based compensation expense	$ 7,356	$ 12,499	$ 21,075	$ 20,939