Inari Medical (NARI) 10-Q 28 Oct 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Oct. 24, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
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		58,544,158
Entity Central Index Key	0001531048
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 41,141,000	$ 38,597,000
Restricted cash	67,000	611,000
Short-term investments in debt securities	70,397,000	76,855,000
Accounts receivable, net	84,403,000	70,119,000
Inventories, net	55,210,000	42,900,000
Prepaid expenses and other current assets	12,168,000	6,481,000
Total current assets	263,386,000	235,563,000
Property and equipment, net	24,098,000	20,929,000
Operating lease right-of-use assets	48,301,000	48,407,000
Goodwill	213,345,000	214,335,000
Intangible assets	143,808,000	150,884,000
Deposits and other assets	4,301,000	4,117,000
Total assets	697,239,000	674,235,000
Current liabilities
Accounts payable	15,523,000	10,577,000
Payroll-related accruals	54,797,000	48,706,000
Accrued expenses and other current liabilities	76,881,000	15,364,000
Operating lease liabilities, current portion	1,579,000	1,692,000
Total current liabilities	148,780,000	76,339,000
Operating lease liabilities, noncurrent portion	31,145,000	30,355,000
Deferred tax liability	36,748,000	36,231,000
Other long-term liability	45,805,000	66,400,000
Total liabilities	262,478,000	209,325,000
Commitments and contingencies (Note 9)
Stockholders' equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued and outstanding as of September 30, 2024 and December 31, 2023	0	0
Common stock, $0.001 par value, 300,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 58,435,576 and 57,762,414 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively	58,000	58,000
Additional paid in capital	543,961,000	504,453,000
Accumulated other comprehensive income	13,145,000	8,885,000
Accumulated deficit	(122,403,000)	(48,486,000)
Total stockholders' equity	434,761,000	464,910,000
Total liabilities and stockholders' equity	$ 697,239,000	$ 674,235,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	300,000,000	300,000,000
Common stock, issued (in shares)	58,435,576	57,762,414
Common stock, outstanding (in shares)	58,435,576	57,762,414

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue	$ 153,390,000	$ 126,366,000	$ 442,404,000	$ 361,538,000
Cost of goods sold	19,846,000	14,477,000	58,732,000	42,062,000
Gross profit	133,544,000	111,889,000	383,672,000	319,476,000
Operating expenses
Research and development	29,431,000	21,492,000	81,216,000	64,641,000
Selling, general and administrative	108,271,000	85,603,000	325,479,000	256,889,000
Change in fair value of contingent consideration	6,578,000	0	18,609,000	0
Amortization of intangible asset	2,504,000	0	7,414,000	0
Acquisition-related expenses	328,000	2,681,000	4,143,000	2,681,000
Total operating expenses	147,112,000	109,776,000	436,861,000	324,211,000
(Loss) income from operations	(13,568,000)	2,113,000	(53,189,000)	(4,735,000)
Other income (expense)
Interest income	1,104,000	4,202,000	3,371,000	12,899,000
Interest expense	(78,000)	(43,000)	(233,000)	(127,000)
Other expense	(130,000)	(682,000)	(130,000)	(617,000)
Total other income	896,000	3,477,000	3,008,000	12,155,000
(Loss) income before income taxes	(12,672,000)	5,590,000	(50,181,000)	7,420,000
Provision for income taxes	5,695,000	2,428,000	23,736,000	4,391,000
Net (loss) income	(18,367,000)	3,162,000	(73,917,000)	3,029,000
Other comprehensive income (loss)
Foreign currency translation adjustments	13,918,000	(68,000)	4,200,000	(138,000)
Unrealized gain (loss) on available-for-sale debt securities	64,000	91,000	60,000	(1,869,000)
Total other comprehensive income (loss)	13,982,000	23,000	4,260,000	(2,007,000)
Comprehensive income (loss)	$ (4,385,000)	$ 3,185,000	$ (69,657,000)	$ 1,022,000
Net (loss) income per share
Basic (in dollars per share)	$ (0.31)	$ 0.06	$ (1.27)	$ 0.05
Diluted (in dollars per share)	$ (0.31)	$ 0.05	$ (1.27)	$ 0.05
Weighted average common shares used to compute net (loss) income per share
Basic (in shares)	58,366,364	57,384,884	58,149,296	56,478,317
Diluted (in shares)	58,366,364	58,588,452	58,149,296	58,495,921

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance at beginning of period (in shares) at Dec. 31, 2022		54,021,656
Balance at beginning of period at Dec. 31, 2022	$ 417,002	$ 54	$ 462,949	$ 849	$ (46,850)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised for common stock (in shares)		209,966
Options exercised for common stock	226		226
Shares issued under Employee Stock Purchase Plan (in shares)		86,051
Shares issued under Employee Stock Purchase Plan	4,172		4,172
Issuance of common stock upon vesting of equity awards, net of shares withheld for taxes (in shares)		2,766,043
Issuance of common stock upon vesting of equity awards, net of shares withheld for taxes	(1,929)	$ 3	(1,932)
Share-based compensation expense	10,339		10,339
Other comprehensive income (loss)	(856)			(856)
Net (loss) income	(2,218)				(2,218)
Balance at end of period (in shares) at Mar. 31, 2023		57,083,716
Balance at end of period at Mar. 31, 2023	426,736	$ 57	475,754	(7)	(49,068)
Balance at beginning of period (in shares) at Dec. 31, 2022		54,021,656
Balance at beginning of period at Dec. 31, 2022	417,002	$ 54	462,949	849	(46,850)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(2,007)
Net (loss) income	3,029
Balance at end of period (in shares) at Sep. 30, 2023		57,506,462
Balance at end of period at Sep. 30, 2023	452,142	$ 58	497,063	(1,158)	(43,821)
Balance at beginning of period (in shares) at Mar. 31, 2023		57,083,716
Balance at beginning of period at Mar. 31, 2023	426,736	$ 57	475,754	(7)	(49,068)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised for common stock (in shares)		81,712
Options exercised for common stock	214		214
Issuance of common stock upon vesting of equity awards, net of shares withheld for taxes (in shares)		101,027
Issuance of common stock upon vesting of equity awards, net of shares withheld for taxes	(2,569)		(2,569)
Share-based compensation expense	10,353		10,353
Other comprehensive income (loss)	(1,174)			(1,174)
Net (loss) income	2,085				2,085
Balance at end of period (in shares) at Jun. 30, 2023		57,266,455
Balance at end of period at Jun. 30, 2023	435,645	$ 57	483,752	(1,181)	(46,983)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised for common stock (in shares)		43,547
Options exercised for common stock	107		107
Shares issued under Employee Stock Purchase Plan (in shares)		118,494
Shares issued under Employee Stock Purchase Plan	5,749	$ 1	5,748
Issuance of common stock upon vesting of equity awards, net of shares withheld for taxes (in shares)		77,966
Issuance of common stock upon vesting of equity awards, net of shares withheld for taxes	(2,388)		(2,388)
Share-based compensation expense	9,844		9,844
Other comprehensive income (loss)	23			23
Net (loss) income	3,162				3,162
Balance at end of period (in shares) at Sep. 30, 2023		57,506,462
Balance at end of period at Sep. 30, 2023	$ 452,142	$ 58	497,063	(1,158)	(43,821)
Balance at beginning of period (in shares) at Dec. 31, 2023	57,762,414	57,762,414
Balance at beginning of period at Dec. 31, 2023	$ 464,910	$ 58	504,453	8,885	(48,486)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised for common stock (in shares)		81,952
Options exercised for common stock	145		145
Shares issued under Employee Stock Purchase Plan (in shares)		82,816
Shares issued under Employee Stock Purchase Plan	3,983		3,983
Issuance of common stock upon vesting of equity awards, net of shares withheld for taxes (in shares)		73,963
Issuance of common stock upon vesting of equity awards, net of shares withheld for taxes	(3,113)		(3,113)
Share-based compensation expense	12,870		12,870
Other comprehensive income (loss)	(7,363)			(7,363)
Net (loss) income	(24,202)				(24,202)
Balance at end of period (in shares) at Mar. 31, 2024		58,001,145
Balance at end of period at Mar. 31, 2024	$ 447,230	$ 58	518,338	1,522	(72,688)
Balance at beginning of period (in shares) at Dec. 31, 2023	57,762,414	57,762,414
Balance at beginning of period at Dec. 31, 2023	$ 464,910	$ 58	504,453	8,885	(48,486)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	4,260
Net (loss) income	$ (73,917)
Balance at end of period (in shares) at Sep. 30, 2024	58,435,576	58,435,576
Balance at end of period at Sep. 30, 2024	$ 434,761	$ 58	543,961	13,145	(122,403)
Balance at beginning of period (in shares) at Mar. 31, 2024		58,001,145
Balance at beginning of period at Mar. 31, 2024	447,230	$ 58	518,338	1,522	(72,688)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised for common stock (in shares)		47,750
Options exercised for common stock	98		98
Issuance of common stock upon vesting of equity awards, net of shares withheld for taxes (in shares)		117,414
Issuance of common stock upon vesting of equity awards, net of shares withheld for taxes	(2,851)		(2,851)
Share-based compensation expense	13,039		13,039
Other comprehensive income (loss)	(2,359)			(2,359)
Net (loss) income	(31,348)				(31,348)
Balance at end of period (in shares) at Jun. 30, 2024		58,166,309
Balance at end of period at Jun. 30, 2024	423,809	$ 58	528,624	(837)	(104,036)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised for common stock (in shares)		41,104
Options exercised for common stock	117		117
Shares issued under Employee Stock Purchase Plan (in shares)		133,430
Shares issued under Employee Stock Purchase Plan	5,281		5,281
Issuance of common stock upon vesting of equity awards, net of shares withheld for taxes (in shares)		94,733
Issuance of common stock upon vesting of equity awards, net of shares withheld for taxes	(3,012)		(3,012)
Share-based compensation expense	12,951		12,951
Other comprehensive income (loss)	13,982			13,982
Net (loss) income	$ (18,367)				(18,367)
Balance at end of period (in shares) at Sep. 30, 2024	58,435,576	58,435,576
Balance at end of period at Sep. 30, 2024	$ 434,761	$ 58	$ 543,961	$ 13,145	$ (122,403)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net (loss) income	$ (73,917,000)	$ 3,029,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	11,879,000	4,186,000
Amortization of deferred financing costs	65,000	30,000
Amortization of right-of-use assets	2,858,000	3,099,000
Share-based compensation expense	38,860,000	30,536,000
Impairment loss on strategic investment	0	565,000
Allowance for credit losses, net	622,000	526,000
Loss on disposal of fixed assets	436,000	26,000
Impairment of capitalized software development costs	3,789,000	0
Amortization of premium and discount on marketable securities	(1,707,000)	(11,407,000)
Change in fair value of contingent consideration liability	18,609,000	0
Changes in:
Accounts receivable	(15,107,000)	(11,566,000)
Inventories	(12,378,000)	(7,797,000)
Prepaid expenses, deposits and other assets	(3,278,000)	4,294,000
Accounts payable	4,927,000	2,436,000
Payroll-related accruals, accrued expenses and other liabilities	28,356,000	7,218,000
Operating lease liabilities	(1,797,000)	(1,031,000)
Lease prepayments for lessor's owned leasehold improvements	(280,000)	(458,000)
Net cash provided by operating activities	1,937,000	23,686,000
Cash flows from investing activities
Purchases of property and equipment	(7,899,000)	(3,801,000)
Purchases of marketable securities	(91,085,000)	(394,496,000)
Maturities of marketable securities	96,708,000	400,560,000
Purchases of other investments	0	(565,000)
Working capital adjustment related to acquisition	3,722,000	0
Capitalized software development costs	(2,298,000)	0
Net cash (used in) provided by investing activities	(852,000)	1,698,000
Cash flows from financing activities
Proceeds from issuance of common stock under employee stock purchase plan	9,264,000	9,920,000
Proceeds from exercise of stock options	360,000	547,000
Payment of taxes related to vested equity awards	(8,976,000)	(6,886,000)
Net cash provided by financing activities	648,000	3,581,000
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	267,000	(5,000)
Net increase in cash, cash equivalents and restricted cash	2,000,000	28,960,000
Cash, cash equivalents and restricted cash beginning of period	39,208,000	60,222,000
Cash, cash equivalents and restricted cash end of period	$ 41,208,000	$ 89,182,000

Organization

Organization	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	ORGANIZATION Description of Business Inari Medical, Inc. (the “Company”) was incorporated in Delaware in July 2011 and is headquartered in Irvine, California. The Company purpose builds and markets a variety of medical products, including minimally invasive, novel, catheter-based mechanical thrombectomy systems for the unique characteristics of specific disease states. On November 15, 2023, the Company acquired LimFlow S.A. (“LimFlow”), a medical device company focused on limb salvage for patients with chronic limb-threatening ischemia (“CLTI”). LimFlow focuses on transforming the treatment of CLTI, an advanced stage of peripheral artery disease that is associated with increased mortality, risk of amputation and impaired quality of life.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and include the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Certain reclassifications have been made to prior period financial statements to conform to classifications used in the current period. The interim condensed consolidated balance sheet as of September 30, 2024 and the condensed consolidated statements of operations and comprehensive income (loss), stockholders’ equity, and cash flows for the three and nine months ended September 30, 2024 and 2023 are unaudited. The consolidated balance sheet as of December 31, 2023 included herein was derived from the audited consolidated financial statements as of that date. 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 condensed consolidated financial position as of September 30, 2024 and its consolidated results of operations and cash flows for the three and nine months ended September 30, 2024 and 2023. 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, 2024 and 2023 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. These interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. 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 condensed consolidated financial statements may include, but are not limited to, contingent consideration liability, collectability of receivables, recoverability of long-lived assets, valuation of inventory, operating lease right-of-use (“ROU”) assets and liabilities, other investments, fair value 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 through its direct sales force and also sells its products directly and through distributors in select international markets. 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 representatives 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, discounts, administrative fees and sales rebates. The Company has elected to account for shipping and handling activities that occur after the customer has obtained control as a fulfillment activity, and not a separate performance obligation. 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 discounts, 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 insignificant to the Company’s condensed consolidated financial statements. As of September 30, 2024 and December 31, 2023, the Company recorded $1.2 million of unbilled receivables, and $1.9 million and $1.3 million, respectively, of allowance for credit losses, which are included in accounts receivable, net, in the accompanying condensed consolidated balance sheets. The Company disaggregates revenue between Venous Thromboembolism (“VTE”) and Emerging Therapies. VTE comprises revenue from the sale of the Company’s solutions addressing deep vein thrombosis and pulmonary embolism. Emerging Therapies comprises revenue from the sale of the Company’s solutions addressing chronic venous disease, CLTI, acute limb ischemia and dialysis access management. Revenue from VTE and Emerging Therapies is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 VTE $ 145,346 $ 121,460 $ 420,213 $ 349,604 Emerging Therapies 8,044 4,906 22,191 11,934 Total revenue $ 153,390 $ 126,366 $ 442,404 $ 361,538 Revenue from the Company's products by geographic area, based on the location where title transfers, is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 United States $ 141,854 $ 119,825 $ 411,321 $ 345,473 International 11,536 6,541 31,083 16,065 Total revenue $ 153,390 $ 126,366 $ 442,404 $ 361,538 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 which 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. Equity Investments The Company has strategic investments in certain privately held companies, with no readily determinable fair value. The Company elected the measurement alternative under which it measures these investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for 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 or if there are observable changes in fair value. Impairment loss, which is generally the difference between the carrying value and the fair value of the investment, is recorded in other income (expense) in the consolidated statements of operations and comprehensive income (loss). As of September 30, 2024 and December 31, 2023, the Company’s equity investments were $1.5 million and were included in deposits and other assets on the condensed consolidated balance sheets. Additionally, during the three and nine months ended September 30, 2023, the Company recorded an impairment loss of $0.6 million in other income (expense) within the condensed consolidated statements of operations and comprehensive income (loss). There was no impairment recorded during the three and nine months ended September 30, 2024. Significant Accounting Policies As of September 30, 2024, there were no changes to the Company’s significant accounting policies as described in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Recently Issued Not Yet Adopted Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting, Topic 280, which requires enhanced disclosures primarily around segment expenses for all public entities, including public entities with a single reportable segment. On an annual and interim basis, entities are required to disclose significant segment expenses that are regularly provided to the Chief Operating Decision Maker. The ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of the new standard and does not expect there to be a material impact on its consolidated financial statements and related disclosures upon adoption. In December 2023, FASB issued ASU 2023-09, Income Tax, Topic 740, which requires public companies to disclose specific categories in the rate reconciliation, disaggregate information related to income taxes paid, income or loss from operations before income tax expense or benefit, and income tax expense or benefit from operations. The ASU is effective for annual fiscal years beginning after December 15, 2024, with early adoption permitted. Amendments are applicable on a prospective basis with retrospective application permitted. The Company is currently evaluating the impact of the new standard on its consolidated financial statements and related disclosures. Supplemental Cash Flow Information Supplemental cash flow information includes the following (in thousands): Nine Months Ended September 30, 2024 2023 Supplemental disclosures of cash flow information: Cash paid for income taxes $ 7,371 $ 3,562 Cash paid for interest $ 168 $ 98 Noncash investing and financing: Lease liabilities arising from obtaining new right-of-use assets $ 2,447 $ 1,030 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents $ 41,141 $ 89,182 Restricted cash 67 — Total cash, cash equivalents and restricted cash as shown in the statement of cash flows $ 41,208 $ 89,182

Business Combination

Business Combination	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combination	BUSINESS COMBINATION Acquisition of LimFlow S.A. On November 15, 2023, the Company completed its acquisition of LimFlow, a medical device company focused on limb salvage for patients with CLTI. As a result of the acquisition, LimFlow’s stockholders received as consideration (i) cash, and (ii) contingent consideration related to certain commercial and reimbursement milestones. The results of operations of LimFlow have been included in the condensed consolidated financial statements from the date of the acquisition. During the nine months ended September 30, 2024, the Company recorded an adjustment related to the finalization of the working capital, which reduced the consideration transferred and the acquisition date fair value of goodwill by $3.7 million. Purchase Price The total purchase price as of the date of the acquisition consisted of the following (in thousands): As of November 15, 2023 Cash $ 238,279 Fair value of contingent consideration 65,931 Fair value of previously held investment 10,235 Total purchase price $ 314,445 Contingent Consideration The LimFlow stockholders can achieve up to $165.0 million of additional contingent consideration if certain commercial and reimbursement milestones are achieved, as outlined under the Contingent Payments section of the share purchase agreement with LimFlow. Such payments include (i) up to $140.0 million based on net revenue generated from the sale of the LimFlow System for the years 2024 through 2026 and (ii) up to $25.0 million based on the achievement of certain reimbursement milestones related to the LimFlow System. The acquisition-date fair value of the contingent consideration was measured using a Monte Carlo simulation which represents Level 3 measurements because they are supported by little or no market activity and reflect the Company’s assumptions in measuring fair value. Estimates and assumptions used in the fair value assessment included forecasted revenues for LimFlow, revenue risk premium, revenue volatility, operational leverage ratio, counterparty credit spread, and weighted average cost of capital. The Company has determined that the range of the potential payments on such contingencies is $65.9 million to $165.0 million. The fair value of the contingent consideration was $65.9 million as of the acquisition date. See Note 4. Fair Value Measurements for additional information. Previously Held Investment Prior to the acquisition, the Company held an investment in LimFlow, which represented approximately 3.7% of LimFlow's outstanding equity, and was recorded at cost minus impairment. Authoritative guidance on accounting for business combinations requires that an acquirer remeasure its previously held equity investment in the acquiree at its acquisition-date fair value and recognize the resulting gain or loss in earnings. In connection with acquiring the remaining 96.3% equity interest of LimFlow, the Company remeasured its previously held equity investment to its fair value, as of the date of acquisition, based on the fair value of total consideration transferred. Estimates and assumptions used in the remeasurement represent a Level 3 measurement because they are supported by little or no market activity and reflect the Company’s assumptions in measuring the fair value. As a result of the remeasurement, the Company valued its previously held equity investment in LimFlow at $10.2 million and recognized a gain of $3.5 million, included in other income (expense) in the consolidated statements of operations and comprehensive income (loss) during the year ended December 31, 2023. Transaction Costs The transaction costs associated with the acquisition of LimFlow consisted primarily of legal and financial advisory fees of approximately $8.7 million in addition to $1.7 million of severance and integration related costs, which were expensed as incurred as SG&A expense during the year ended December 31, 2023. Net Assets Acquired and Liabilities Assumed The purchase price allocation for the LimFlow acquisition was finalized as of September 30, 2024, and there were no measurement period adjustments recorded. The final allocation of fair value of assets acquired and liabilities assumed were (in thousands): As of November 15, 2023 Cash and cash equivalents $ 1,582 Accounts receivable 919 Inventories 2,635 Property and equipment 266 Goodwill 204,078 Intangible asset 146,000 Other current and noncurrent assets 2,155 Accounts payable (2,509) Deferred tax liability (36,500) Other current and noncurrent liabilities (4,181) Total net assets acquired $ 314,445 The fair value assigned to the intangible asset acquired was as follows (in thousands, except for estimated useful life which is in years): Fair value Useful life Developed technology $ 146,000 15 years The fair value assigned to identifiable intangible asset, the developed technology, acquired as part of the LimFlow acquisition, was estimated using the multi-period excess earnings method. Under this method, an intangible asset’s fair value is equal to the present value of future economic benefits to be derived from ownership of the asset. The estimated fair value was developed by discounting future net cash flows to their present value at market-based rates of return. Such assumptions included forecasted revenues, cost of sales and operating expenses, technology obsolescence, and weighted average cost of capital. The useful life of the developed technology for amortization purposes was determined by considering the period of expected cash flows used to measure the fair values of the intangible asset adjusted as appropriate for entity-specific factors including competitive, economic and other factors that may limit the useful life. The developed technology asset will be amortized on a straight-line basis over its estimated useful life. Unaudited Pro Forma Financial Information The following unaudited pro forma financial information summarizes the combined results of operations of the Company and LimFlow as if the companies had been combined as of the beginning of fiscal year 2023 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2023 Revenue $ 126,757 $ 362,848 Net loss $ (6,245) $ (28,452) The unaudited pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved had the acquisition been completed at the beginning of the fiscal year ended December 31, 2023. In addition, the unaudited pro forma financial information is not a projection of future results of operations of the combined company nor does it reflect the expected realization of any synergies or cost savings associated with the acquisition. The unaudited pro forma financial information includes adjustments to reflect the elimination of intercompany transactions, incremental amortization of the identifiable intangible asset and elimination of the remeasurement the Company’s previously held investment in LimFlow.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Investments in debt securities have been classified as available-for-sale and are carried at estimated fair value as determined based upon quoted market prices or pricing models for similar securities. As of September 30, 2024, all of the Company's investments in debt securities had maturities of less than 12 months and were classified as short-term investments on the condensed consolidated balance sheets. 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, 2024 and December 31, 2023 (in thousands): September 30, 2024 Level 1 Level 2 Level 3 Aggregate Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 7,288 $ — $ — $ 7,288 Total included in cash and cash equivalents 7,288 — — 7,288 Investments: U.S. treasury securities 70,397 — — 70,397 Total included in short-term investments 70,397 — — 70,397 Total financial assets $ 77,685 $ — $ — $ 77,685 Financial Liability Contingent consideration $ — $ — $ 84,540 $ 84,540 Total financial liabilities $ — $ — $ 84,540 $ 84,540 December 31, 2023 Level 1 Level 2 Level 3 Aggregate Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 2,753 $ — $ — $ 2,753 Total included in cash and cash equivalents 2,753 — — 2,753 Investments: U.S. treasury securities 41,685 — — 41,685 U.S. government agencies — 26,238 — 26,238 Corporate debt securities and commercial paper — 8,932 — 8,932 Total included in short-term investments 41,685 35,170 — 76,855 Total financial assets $ 44,438 $ 35,170 $ — $ 79,608 Financial Liability Contingent consideration $ — $ — $ 65,931 $ 65,931 Total financial liabilities $ — $ — $ 65,931 $ 65,931 There were no transfers between Levels 1, 2 or 3 for the periods presented. Contingent payments are related to the acquisition of LimFlow and consist of commercial and reimbursement milestones, which were valued using a Monte Carlo simulation and probability weighted discounted cash flow analysis, respectively, and represent Level 3 measurements because they are based upon significant unobservable inputs such as forecasted revenues of LimFlow, revenue risk premium, revenue volatility, operational leverage ratio, credit risk, weighted average cost of capital, and probability assumptions in achieving certain milestones. The following table summarizes the changes in the estimated fair value of the Company’s contingent consideration liabilities (in thousands): Contingent Consideration Fair Value Balance as of December 31, 2023 $ 65,931 Change in estimated fair value 18,609 Balance as of September 30, 2024 $ 84,540 The fair value of the contingent consideration was $84.5 million as of September 30, 2024, of which $39.2 million was recorded within accrued expenses and other current liabilities and $45.3 million was recorded within other long-term liabilities, and $65.9 million as of December 31, 2023, which was recorded within other long-term liabilities. The change in estimated fair value of contingent consideration was recorded in operating expenses within the condensed consolidated statements of operations and comprehensive income (loss).

Cash Equivalents and Investment

Cash Equivalents and Investments	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Cash Equivalents and Investments	CASH EQUIVALENTS AND INVESTMENTS The following is a summary of the Company’s cash equivalents and investments in debt securities as of September 30, 2024 and December 31, 2023 (in thousands): September 30, 2024 Amortized Cost Basis Unrealized Gain Unrealized Loss Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 7,288 $ — $ — $ 7,288 Total included in cash and cash equivalents 7,288 — — 7,288 Investments: U.S. treasury securities 70,346 51 — 70,397 Total included in short-term investments 70,346 51 — 70,397 Total financial assets $ 77,634 $ 51 $ — $ 77,685 December 31, 2023 Amortized Cost Basis Unrealized Gain Unrealized Loss Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 2,753 $ — $ — $ 2,753 Total included in cash and cash equivalents 2,753 — — 2,753 Investments: U.S. treasury securities 41,672 13 — 41,685 U.S. government agencies 26,248 — (10) 26,238 Corporate debt securities and commercial paper 8,935 — (3) 8,932 Total included in short-term investments 76,855 13 (13) 76,855 Total financial assets $ 79,608 $ 13 $ (13) $ 79,608 The Company regularly reviews any changes to the rating of its debt securities and reasonably monitors the surrounding economic conditions to assess the risk of expected credit losses. As of September 30, 2024, the risk of expected credit losses was not significant.

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories, net	INVENTORIES, NET Inventories, net of reserves, consist of the following (in thousands): September 30, December 31, Raw materials $ 21,983 $ 14,310 Work-in-process 6,179 5,330 Finished goods 27,048 23,260 Total inventories, net $ 55,210 $ 42,900

Property and Equipment, net

Property and Equipment, net	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, net	PROPERTY AND EQUIPMENT, NET Property and equipment consist of the following (in thousands): September 30, December 31, Manufacturing equipment $ 18,527 $ 16,653 Computer hardware 6,671 5,641 Assets in progress 5,902 3,135 Furniture and fixtures 4,584 4,491 Leasehold improvements 4,531 4,682 Total property and equipment, gross 40,215 34,602 Accumulated depreciation (16,117) (13,673) Total property and equipment, net $ 24,098 $ 20,929 Depreciation expense of $1.1 million was included in operating expenses and $0.3 million was included in cost of goods sold for the three months ended September 30, 2024 and 2023, respectively. Depreciation expense of $3.4 million was included in operating expenses for the nine months ended September 30, 2024 and 2023, and $1.0 million and $0.8 million was included in cost of goods sold for the nine months ended September 30, 2024 and 2023, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS Goodwill The changes in carrying amount of goodwill for the nine months ended September 30, 2024 were as follows (in thousands): Balance as of December 31, 2023 $ 214,335 Working capital adjustment (3,722) Foreign currency translation adjustments 2,732 Balance as of September 30, 2024 $ 213,345 The working capital adjustment relates to the acquisition of LimFlow. See Note 3. Business Combination for additional information. Intangible Assets The intangible assets consist of the following (in thousands): September 30, 2024 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Developed technology $ 152,716 $ (8,908) $ 143,808 Total intangible assets, net $ 152,716 $ (8,908) $ 143,808 December 31, 2023 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Developed technology $ 150,649 $ (1,256) $ 149,393 Capitalized software (a) 1,491 — 1,491 Total intangible assets, net $ 152,140 $ (1,256) $ 150,884 _____________ (a) The useful life of the capitalized software was not determined as of December 31, 2023 as the asset was not put into service. No amortization expense has been recorded related to the capitalized software during the three and nine months ended September 30, 2023. The gross carrying amount and the accumulated amortization of the developed technology asset is subject to foreign currency translation effects. During the three and nine months ended September 30, 2024, $2.5 million and $7.4 million, respectively, of amortization expense was recorded in operating expenses within the condensed consolidated statements of operations and comprehensive income (loss) related to the developed technology asset. There were no intangible assets and no amortization recorded for the three and nine months ended September 30, 2023. During the three months ended September 30, 2024, the Company recorded a non-cash impairment of $3.8 million related to previously capitalized software development costs that reduced the carrying value of such asset to zero. The impairment charge was recorded in research and development expenses within the condensed consolidated statements of operations and comprehensive income (loss). The estimated future annual amortization of the intangible assets in service is as follows (in thousands): Year ending December 31: Amount Remainder of 2024 $ 2,545 2025 10,181 2026 10,181 2027 10,181 2028 10,181 Thereafter 100,539 Total $ 143,808

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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. The variable lease payments primarily relate to common area maintenance, property taxes, and insurance. The operating leases for facilities expire at various dates through July 2041 and some contain renewal options, the longest of which is for five years. The ROU asset and lease liability includes renewal options if the Company is reasonably certain to exercise such renewal options. The interest rate implicit in lease agreements is typically not readily determinable, and as such the Company used the incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The incremental borrowing rate is defined as the interest rate the Company would incur to borrow on a collateralized basis, considering factors such as length of lease term. The following table presents the weighted average remaining lease term and discount rate: September 30, 2024 2023 Weighted average remaining term (in years) 16.1 18.2 Weighted average discount rate 6.1 % 6.1 % Cash paid for amounts included in the measurement of operating leases were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cash paid for amounts included in the measurement of operating lease liabilities $ 1,048 $ 866 $ 2,877 $ 2,564 Total lease costs are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating lease cost $ 1,385 $ 1,137 $ 3,929 $ 3,456 Short-term lease cost 48 22 141 85 Variable lease cost 184 402 746 809 Total lease costs $ 1,617 $ 1,561 $ 4,816 $ 4,350 Future minimum lease payments under operating leases liabilities as of September 30, 2024 are as follows (in thousands): Year ending December 31: Amount Remainder of 2024 $ 858 2025 3,373 2026 3,512 2027 3,594 2028 3,396 Thereafter 35,771 Total lease payments 50,504 Less imputed interest (17,780) Total lease liabilities 32,724 Less: lease liabilities - current portion (1,579) Lease liabilities - noncurrent portion $ 31,145 The Company signed a ten-year lease in Costa Rica for its second manufacturing facility in October 2023, with total undiscounted contractual payments of the lease of approximately $7.2 million, which is expected to commence in the fourth quarter of 2024. 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 is involved in various claims and proceedings arising in the ordinary course of its business. Management does not believe that any existing claims and proceedings, including potential losses relating to such contingencies, will have a material adverse effect on its consolidated financial position, results of operations or cash flows. Civil Investigative Demand As previously disclosed, in December 2023, the Company received a civil investigative demand (“CID”) from the U.S. Department of Justice, Civil Division, in connection with an investigation under the federal Anti-Kickback Statute and Civil False Claims Act (the “Investigation”). The CID requests information and documents primarily relating to meals and consulting service payments provided to health care professionals. The Company is cooperating with the Investigation. The Company is unable to express a view at this time regarding the likely duration, or ultimate outcome, of the Investigation or estimate the possibility of, or amount or range of, any possible financial impact. Depending on the outcome of the Investigation, there may be a material impact on the Company’s business, results of operations, or financial condition. Patent and Trade Secret Litigation As previously disclosed, on May 22, 2024, the Company filed a patent infringement lawsuit against Imperative Care, Inc. (“Imperative Care”) and Truvic Medical, Inc. (“Truvic”) in the United States District Court for the Northern District of California, alleging that Imperative Care's Symphony Thrombectomy System infringes eight patents related to mechanical thrombectomy devices used for treating pulmonary emboli and deep vein thrombosis. On July 9, 2024, the Company filed an amended complaint to allege infringement of an additional, ninth patent, and to drop Truvic as a named defendant because Imperative Care confirmed that Truvic has been merged into Imperative Care. In the complaint, the Company seeks injunctive relief and damages for the alleged infringement. On July 24, 2024, the Company filed a motion for a preliminary injunction seeking to enjoin Imperative Care's sale or use, among other activities, of the Symphony Thrombectomy System outside of clinical trials. The court has indicated that it is likely to hear the preliminary injunction motion in December 2024. It has not otherwise set a case schedule. On September 11, 2024, the Company filed a lawsuit against Inquis Medical, Inc. (“Inquis”) in the United States District Court for the District of Delaware. The Company’s complaint alleges that Inquis misappropriated the Company’s trade secrets in relation to Inquis’ engagement of the services of an Inari employee, and that Inquis’ Aventus Thrombectomy System and Aventus Clot Management System infringe four Inari patents related to mechanical thrombectomy devices used for treating pulmonary emboli and deep vein thrombosis. Inquis’ response to the Company’s complaint is due November 4, 2024. The court has not otherwise set a case schedule. Securities Class Action As previously disclosed, on May 13, 2024, purported stockholder Michiana Area Electrical Workers’ Pension Fund filed a verified class action complaint on behalf of itself and similarly situated Inari stockholders in the United States District Court for the Southern District of New York, captioned Michiana Area Elec. Workers’ Pension Fund v. Inari Medical, Inc., No. 1:24-cv-03686-JHR (the “MAEW Action”). On June 18, 2024, purported stockholder Paul Hartmann filed a verified class action complaint on behalf of himself and similarly situated Inari stockholders in the United States District Court for the Southern District of New York, captioned Hartmann v. Inari Medical, Inc., No. 1:24-cv-04662-JHR (the “Hartmann Action” and together with the MAEW Action, the “Related Actions”). Each of the Related Actions alleges the Company and certain of its officer and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act by making false or misleading statements regarding the Company’s revenue and expenses. As previously disclosed, on July 12, 2024, a group of pension funds consisting of Oklahoma Law Enforcement Retirement Systems, Local 353, I.B.E.W. Pension Fund, and City of Pontiac Reestablished General Employees’ Retirement System, Mr. Hartmann, and purported stockholder Arvin Nazerzadeh-Yazdi, each filed motions seeking to consolidate the Related Actions, be appointed lead plaintiff, and have their counsel appointed lead counsel. The matter is at a preliminary stage and the Company is not able to quantify the extent of any potential liability. The Company believes that these complaints are without merit and intends to defend against them vigorously.

Concentrations

Concentrations	9 Months Ended
	Sep. 30, 2024
Risks and Uncertainties [Abstract]
Concentrations	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, 2024 and 2023, there were no customers which accounted for more than 10% of the Company’s revenue. As of September 30, 2024 and December 31, 2023, 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, 2024 and 2023. There were no vendors that accounted for more than 10% of the Company’s accounts payable as of September 30, 2024 and December 31, 2023.

Related Party

Related Party	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party	RELATED PARTY The Company utilizes MRI The Hoffman Group (“MRI”), a recruiting services company owned by the brother of the former Chief Executive Officer and President and current member of the board of directors of the Company. The Company paid for recruiting services provided by MRI amounting to nil and $67,000 for the three months ended September 30, 2024 and 2023, respectively, and $31,000 and $147,000 for the nine months ended September 30, 2024 and 2023, respectively, which was recorded in SG&A expenses within the condensed consolidated statements of operations and comprehensive income (loss). As of September 30, 2024 and December 31, 2023, there was no balance payable to MRI.

Credit Facility

Credit Facility	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Credit Facility	CREDIT FACILITY Bank of America Credit Facility On December 16, 2022, the Company amended its senior secured revolving credit facility with Bank of America (the “Previously Amended Credit Agreement”) under which the Company may borrow loans up to a maximum principal amount of $40.0 million and increase the optional accordion to $120.0 million. Advances under the Previously Amended 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 Bloomberg Short-Term Bank Yield Index (“the BSBY”) rate based upon an interest period of one month plus 1.00%, in any case has a floor of 0%. The Margin ranges, depending on average daily availability, from 0.50% to 1.00% in the case of Prime Rate and the Federal funds rate loans, and 1.50% to 2.00% in the case of BSBY Rate loans. As a condition to entering into the Previously Amended Credit Agreement, the Company was obligated to pay a nonrefundable fee of $10,000. The Company is also required to pay an unused line fee at an annual rate of 0.25% per annum of the average daily unused portion of the aggregate revolving credit commitments under the Previously Amended Credit Agreement. The Previously Amended Credit Agreement also includes a Letter of Credit subline facility (the “LC Facility”) of up to $5.0 million. In February 2023, the Company amended the LC Facility to increase the limit to up to $10.0 million. The Company is required to pay the following fees under the LC Facility: (a) a fee equal to the applicable margin in effect for BSBY loans (currently 2.25%) times the average daily stated amount of outstanding letters of credit; and (b) a fronting fee equal to 0.125% per annum on the stated amount of each letter of credit outstanding. On November 1, 2023, the Company further amended its credit facility (the “Amended Credit Agreement”) to, among other things, increase the amount available for borrowing up to a maximum principal amount of $75.0 million. Additionally, advances under the Amended Credit Agreement will bear interest at the Base Rate or the BSBY rate, plus the Margin. The Margin ranges from 0.60% to 1.10% in the case of the Base Rate loans and 1.60% to 2.10% in the case of the BSBY rate loans depending on average daily availability, in each case with a floor of 0%. As a condition of entering into the Amended Credit Agreement, the Company was obligated to pay a nonrefundable fee of $88,000. Lastly, the Company amended the LC Facility to increase the limit up to $18.8 million. This amendment was accounted for as a debt modification in accordance ASC 470, Debt . The Amended Credit Agreement contains certain customary covenants subject to certain exceptions, including, among others, the following: a fixed charge coverage ratio covenant, and limitations of indebtedness, liens, investments, asset sales, mergers, consolidations, liquidations, dispositions, restricted payments, transactions with affiliates and prepayments of certain debt. The Amended Credit Agreement also contains certain events of default subject to certain customary grace periods, including, among others, payment defaults, breaches of any representation, warranty or covenants, judgment defaults, cross defaults to certain other contracts, bankruptcy and insolvency defaults, material judgment defaults and a change of control default. As of September 30, 2024, the amount available to borrow under the Amended Credit Agreement is approximately $67.9 million, and the Company had four letters of credit in the aggregated amount of $2.4 million outstanding under the LC Facility. The aggregate stated amount outstanding of the letter of credits reduces the total borrowing base available under the Amended Credit Agreement and is subject to certain fees. As of September 30, 2024, there was no principal amount outstanding, and no cash was pledged under the Amended Credit Agreement, and the Company was in compliance with its covenant requirements. Obligations under the Amended Credit Agreement are secured by substantially all of the Company’s assets, excluding intellectual property. The Amended Credit Agreement matures on December 16, 2027. Deferred Financing Costs Costs incurred directly related to debt are presented in other assets and are being amortized over the five-year life of the Credit Agreement on the straight-line basis. The unamortized deferred financings costs as of September 30, 2024 and December 31, 2023 are as follows (in thousands): September 30, 2024 December 31, 2023 Deferred financing costs $ 729 $ 1,454 Accumulated amortization (447) (382) Unamortized deferred financing costs $ 282 $ 1,072

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Stockholders' Equity	STOCKHOLDERS’ EQUITY Accumulated Other Comprehensive Income (Loss) The following is a summary of the changes in accumulated balances of other comprehensive income (loss) for the nine months ended September 30, 2024 and 2023 (in thousands): Unrealized Gain (Loss) on Investments Foreign Currency Translation Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2023 $ (9) $ 8,894 $ 8,885 Other comprehensive loss (4) (7,359) (7,363) Balance, March 31, 2024 (13) 1,535 1,522 Other comprehensive loss — (2,359) (2,359) Balance, June 30, 2024 (13) (824) (837) Other comprehensive income 64 13,918 13,982 Balance, September 30, 2024 $ 51 $ 13,094 $ 13,145 Unrealized Gain (Loss) on Investments Foreign Currency Translation Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2022 $ 1,820 $ (971) $ 849 Other comprehensive loss (865) 9 (856) Balance, March 31, 2023 955 (962) (7) Other comprehensive loss (1,095) (79) (1,174) Balance, June 30, 2023 (140) (1,041) (1,181) Other comprehensive income (loss) 91 (68) 23 Balance, September 30, 2023 $ (49) $ (1,109) $ (1,158)

Equity Incentive Plans

Equity Incentive Plans	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plans	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 and directors. 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 Company’s initial public offering in May 2020. 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. 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, 2024, there were 7,183,239 shares available for issuance under the 2020 Plan, including 1,732,872 additional shares reserved effective January 1, 2024. 2011 Equity Incentive Plan Stock Options A summary of stock option activity under the 2011 Plan for the nine months ended September 30, 2024 is as follows (intrinsic values in thousands): Number of Options Weighted Weighted Intrinsic Outstanding, December 31, 2023 937,696 $ 2.24 5.2 $ 58,778 Exercised (170,540) 2.02 $ 8,211 Cancelled (29) 9.05 Outstanding, September 30, 2024 767,127 2.28 4.5 $ 29,884 Vested and exercisable at September 30, 2024 767,127 2.28 4.5 $ 29,884 Vested and expected to vest at September 30, 2024 767,127 $ 2.28 4.5 $ 29,884 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 market value of the Company’s common stock. 2020 Incentive Award Plan Restricted Stock Units 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 activity under the 2020 Plan is set forth below: Number of Weighted Outstanding, December 31, 2023 1,307,998 $ 67.91 Granted 1,006,244 46.95 Vested (456,160) 67.69 Cancelled (104,090) 61.87 Outstanding, September 30, 2024 1,753,992 $ 56.30 The total fair value of RSUs vested under the 2020 Plan was $7.7 million and $6.9 million for the three months ended September 30, 2024 and 2023, respectively, and $23.9 million and $21.0 million for the nine months ended September 30, 2024 and 2023, respectively. Performance Stock Units During the nine months ended September 30, 2024, the Company granted performance stock units (“PSUs”) to certain employees that are eligible to vest three years from the award date, based on achieving certain revenue based performance targets. The number of shares that may be earned can range from 0% to 200% of the target amount. The fair value of PSUs is determined by the closing stock price of the Company’s common stock on the awards’ grant date. The share-based compensation expense associated with PSUs is recognized on a straight-line basis based on the estimated number of awards that are expected to vest. At each reporting period, the Company monitors the probability of achieving the performance targets and adjusts the share-based compensation expense associated with PSUs accordingly. PSU activity under the 2020 Plan is set forth below: Number of Weighted Outstanding, December 31, 2023 — $ — Granted 90,488 55.48 Outstanding, September 30, 2024 90,488 $ 55.48 Stock Options The Company grants non-qualified stock options to certain employees with vesting over a four-year period on a quarterly basis. The fair value of the stock options was calculated using the Black-Scholes option pricing model. The fair value for options granted was calculated using the following weighted average assumptions: Nine Months Ended September 30, 2024 2023 Expected term (in years) 4.5 4.6 Expected volatility 48.7% to 48.9% 50.4% Dividend yield 0.0% 0.0% Risk free interest rate 4.2% to 4.3% 4.1% Weighted-average fair value of options granted $24.89 per share $25.98 per share A summary of stock option activities under the 2020 Plan for the nine months ended September 30, 2024 is as follows (intrinsic values in thousands): Number of Options Weighted Weighted Intrinsic Outstanding, December 31, 2023 166,203 $ 56.00 6.1 $ 1,483 Granted 210,188 54.83 Exercised (270) 56.00 $ — Cancelled (7,157) 56.00 Outstanding, September 30, 2024 368,964 55.33 5.9 $ — Vested and exercisable at September 30, 2024 86,548 55.65 5.6 $ — Vested and expected to vest at September 30, 2024 343,736 $ 55.35 5.9 $ — 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 Compensation Committee, in its sole discretion. The number of shares available for issuance under the ESPP increases automatically on January 1 of each calendar year of the Company beginning in 2021 and ending in 2030, in an amount equal to the lesser of (i) 1% of the aggregate number of outstanding shares of the Company’s common stock on the final day of the immediately preceding calendar year and (ii) such smaller number of shares determined by the Company’s board of directors. 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, 2024 2023 Expected term (in years) 0.5 0.5 Expected volatility 57.0% - 60.8% 42.1% - 49.9% Dividend yield 0.0% 0.0% Risk free interest rate 5.1% - 5.2% 4.8% - 5.5% As of September 30, 2024, a total of (i) 639,355 shares of common stock, including 133,430 shares purchased in July 2024 and 82,816 shares purchased in January 2024, have been purchased under the ESPP, and (ii) 2,465,007 shares of common stock are reserved under the ESPP for future purchases, including 577,624 additional shares, which were automatically added to the reserve on January 1, 2024 pursuant to the terms of the ESPP. Share-based Compensation Expense Total compensation cost for all share-based payment arrangements recognized, including $1.2 million and $0.7 million for the three months ended September 30, 2024 and 2023, respectively, and $3.5 million and $2.9 million for the nine months ended September 30, 2024 and 2023, respectively, of share-based compensation expense related to the ESPP, was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of goods sold $ 537 $ 393 $ 1,570 $ 1,232 Research and development 1,779 1,587 5,347 4,981 Selling, general and administrative 10,635 7,864 31,943 24,323 Total share-based compensation expense $ 12,951 $ 9,844 $ 38,860 $ 30,536 Total compensation costs as of September 30, 2024 related to all non-vested awards to be recognized in future periods was $87.4 million and is expected to be recognized over the remaining weighted average period of 2.6 years.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The following table reflects the Company’s provision for income taxes for the periods indicated (in thousands, except for percentages): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (Loss) income before income taxes $ (12,672) $ 5,590 $ (50,181) $ 7,420 Provision for income taxes 5,695 2,428 23,736 4,391 Net (loss) income $ (18,367) $ 3,162 $ (73,917) $ 3,029 Provision for income taxes as a percentage of (loss) income before income taxes (44.9%) 43.4% (47.3%) 59.2 % 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 historically has 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. In addition, the tax effects of certain significant or unusual items are recognized discretely in the quarter in which they occur. For the nine months ended September 30, 2024 and September 30, 2023, the Company calculated the income tax provision using this methodology. Beginning in 2024, many countries are implementing some or all of the Organization for Economic Co-operation and Development’s Base Erosion and Profit Shifting Two-Pillar in response to tax challenges arising from the digitalization of the global economy. While we continue to evaluate those countries’ implementations, we do not expect those implementations to have a material impact on our consolidated financial statements in 2024. Valuation Allowance ASC 740, Income Taxes 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, 2023, the Company was in a net deferred tax liability position due to the LimFlow acquisition. However, a valuation allowance was maintained against certain deferred tax assets. As of September 30, 2024, the Company believes that the net deferred tax assets are currently not considered more likely than not to be realized and, accordingly, maintains a valuation allowance against certain 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. Given the Company’s current earnings and anticipated future earnings, the Company believes that there is a reasonable possibility that sufficient positive evidence may become available in the near term to allow the Company to reach a conclusion that a significant portion of the valuation allowance is no longer needed. Any release of the valuation allowance will 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 12 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, 2020, December 31, 2019, and December 31, 2020 are open for federal, state, and foreign tax purposes, respectively.

Retirement Plan

Retirement Plan	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Retirement Plan	RETIREMENT PLAN In December 2017, the Company adopted the Inari Medical, Inc. 401(k) Plan which allows eligible

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	NET INCOME (LOSS) PER SHARE Basic net income (loss) per share is computed by dividing the net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period, without consideration for potential dilutive common shares. Diluted net income (loss) per share is computed using the treasury stock method by dividing the net income (loss) attributable to common stockholders by the weighted average number of shares of common stock and potentially dilutive securities outstanding for the period. For purposes of the diluted net income (loss) per share calculation, shares from common stock options and equity awards are potentially dilutive securities. For the periods the Company is in a net loss position, basic net loss per share is the same as diluted net loss per share as the inclusion of all potential dilutive common shares would have been anti-dilutive. The components of net (loss) income per share are as follows (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator: Net (loss) income $ (18,367) $ 3,162 $ (73,917) $ 3,029 Denominator: Weighted average number of common shares outstanding - basic 58,366,364 57,384,884 58,149,296 56,478,317 Common stock equivalents from outstanding equity grants — 1,102,642 — 1,173,190 Common stock equivalents from unvested RSUs and PSUs — 94,531 — 832,873 Common stock equivalents from ESPP — 6,395 — 11,541 Weighted average number of common shares outstanding - diluted 58,366,364 58,588,452 58,149,296 58,495,921 Net (loss) income per share: Basic $ (0.31) $ 0.06 $ (1.27) $ 0.05 Diluted $ (0.31) $ 0.05 $ (1.27) $ 0.05 The following outstanding potentially dilutive common stock equivalents have been excluded from the calculation of diluted net loss per share due to their anti-dilutive effect: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Stock options 1,136,091 171,526 1,136,091 1,290,179 Equity awards 1,844,480 555,468 1,844,480 1,332,500 Total potentially dilutive common stock equivalents excluded from calculation due to anti-dilutive effect 2,980,571 726,994 2,980,571 2,622,679

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (18,367)	$ (31,348)	$ (24,202)	$ 3,162	$ 2,085	$ (2,218)	$ (73,917)	$ 3,029

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and include the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Certain reclassifications have been made to prior period financial statements to conform to classifications used in the current period. The interim condensed consolidated balance sheet as of September 30, 2024 and the condensed consolidated statements of operations and comprehensive income (loss), stockholders’ equity, and cash flows for the three and nine months ended September 30, 2024 and 2023 are unaudited. The consolidated balance sheet as of December 31, 2023 included herein was derived from the audited consolidated financial statements as of that date. 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 condensed consolidated financial position as of September 30, 2024 and its consolidated results of operations and cash flows for the three and nine months ended September 30, 2024 and 2023. 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, 2024 and 2023 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. These interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023.
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 condensed consolidated financial statements may include, but are not limited to, contingent consideration liability, collectability of receivables, recoverability of long-lived assets, valuation of inventory, operating lease right-of-use (“ROU”) assets and liabilities, other investments, fair value 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 through its direct sales force and also sells its products directly and through distributors in select international markets. 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 representatives 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, discounts, administrative fees and sales rebates. The Company has elected to account for shipping and handling activities that occur after the customer has obtained control as a fulfillment activity, and not a separate performance obligation. 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 discounts, 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 insignificant to the Company’s condensed consolidated financial statements. As of September 30, 2024 and December 31, 2023, the Company recorded $1.2 million of unbilled receivables, and $1.9 million and $1.3 million, respectively, of allowance for credit losses, which are included in accounts receivable, net, in the accompanying condensed consolidated balance sheets. The Company disaggregates revenue between Venous Thromboembolism (“VTE”) and Emerging Therapies. VTE comprises revenue from the sale of the Company’s solutions addressing deep vein thrombosis and pulmonary embolism. Emerging Therapies comprises revenue from the sale of the Company’s solutions addressing chronic venous disease, CLTI, acute limb ischemia and dialysis access management. Revenue from VTE and Emerging Therapies is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 VTE $ 145,346 $ 121,460 $ 420,213 $ 349,604 Emerging Therapies 8,044 4,906 22,191 11,934 Total revenue $ 153,390 $ 126,366 $ 442,404 $ 361,538 Revenue from the Company's products by geographic area, based on the location where title transfers, is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 United States $ 141,854 $ 119,825 $ 411,321 $ 345,473 International 11,536 6,541 31,083 16,065 Total revenue $ 153,390 $ 126,366 $ 442,404 $ 361,538 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 which 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.
Equity Investments	Equity Investments
Recently Issued Not Yet Adopted Accounting Pronouncements	Recently Issued Not Yet Adopted Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting, Topic 280, which requires enhanced disclosures primarily around segment expenses for all public entities, including public entities with a single reportable segment. On an annual and interim basis, entities are required to disclose significant segment expenses that are regularly provided to the Chief Operating Decision Maker. The ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of the new standard and does not expect there to be a material impact on its consolidated financial statements and related disclosures upon adoption. In December 2023, FASB issued ASU 2023-09, Income Tax, Topic 740, which requires public companies to disclose specific categories in the rate reconciliation, disaggregate information related to income taxes paid, income or loss from operations before income tax expense or benefit, and income tax expense or benefit from operations. The ASU is effective for annual fiscal years beginning after December 15, 2024, with early adoption permitted. Amendments are applicable on a prospective basis with retrospective application permitted. The Company is currently evaluating the impact of the new standard on its consolidated financial statements and related disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Schedule of Disaggregation of Revenue	Revenue from VTE and Emerging Therapies is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 VTE $ 145,346 $ 121,460 $ 420,213 $ 349,604 Emerging Therapies 8,044 4,906 22,191 11,934 Total revenue $ 153,390 $ 126,366 $ 442,404 $ 361,538 Revenue from the Company's products by geographic area, based on the location where title transfers, is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 United States $ 141,854 $ 119,825 $ 411,321 $ 345,473 International 11,536 6,541 31,083 16,065 Total revenue $ 153,390 $ 126,366 $ 442,404 $ 361,538
Schedule of Cash Flow, Supplemental Disclosures	Supplemental cash flow information includes the following (in thousands): Nine Months Ended September 30, 2024 2023 Supplemental disclosures of cash flow information: Cash paid for income taxes $ 7,371 $ 3,562 Cash paid for interest $ 168 $ 98 Noncash investing and financing: Lease liabilities arising from obtaining new right-of-use assets $ 2,447 $ 1,030 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents $ 41,141 $ 89,182 Restricted cash 67 — Total cash, cash equivalents and restricted cash as shown in the statement of cash flows $ 41,208 $ 89,182

Business Combination (Tables)

Business Combination (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Total Purchase Price Consideration	The total purchase price as of the date of the acquisition consisted of the following (in thousands): As of November 15, 2023 Cash $ 238,279 Fair value of contingent consideration 65,931 Fair value of previously held investment 10,235 Total purchase price $ 314,445
Schedule of Fair Values of Assets Acquired and Liabilities Assumed	The final allocation of fair value of assets acquired and liabilities assumed were (in thousands): As of November 15, 2023 Cash and cash equivalents $ 1,582 Accounts receivable 919 Inventories 2,635 Property and equipment 266 Goodwill 204,078 Intangible asset 146,000 Other current and noncurrent assets 2,155 Accounts payable (2,509) Deferred tax liability (36,500) Other current and noncurrent liabilities (4,181) Total net assets acquired $ 314,445
Schedule of Acquired Finite-Lived Intangible Assets by Major Class	The fair value assigned to the intangible asset acquired was as follows (in thousands, except for estimated useful life which is in years): Fair value Useful life Developed technology $ 146,000 15 years
Schedule of Pro Forma Information	The following unaudited pro forma financial information summarizes the combined results of operations of the Company and LimFlow as if the companies had been combined as of the beginning of fiscal year 2023 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2023 Revenue $ 126,757 $ 362,848 Net loss $ (6,245) $ (28,452)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 and December 31, 2023 (in thousands): September 30, 2024 Level 1 Level 2 Level 3 Aggregate Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 7,288 $ — $ — $ 7,288 Total included in cash and cash equivalents 7,288 — — 7,288 Investments: U.S. treasury securities 70,397 — — 70,397 Total included in short-term investments 70,397 — — 70,397 Total financial assets $ 77,685 $ — $ — $ 77,685 Financial Liability Contingent consideration $ — $ — $ 84,540 $ 84,540 Total financial liabilities $ — $ — $ 84,540 $ 84,540 December 31, 2023 Level 1 Level 2 Level 3 Aggregate Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 2,753 $ — $ — $ 2,753 Total included in cash and cash equivalents 2,753 — — 2,753 Investments: U.S. treasury securities 41,685 — — 41,685 U.S. government agencies — 26,238 — 26,238 Corporate debt securities and commercial paper — 8,932 — 8,932 Total included in short-term investments 41,685 35,170 — 76,855 Total financial assets $ 44,438 $ 35,170 $ — $ 79,608 Financial Liability Contingent consideration $ — $ — $ 65,931 $ 65,931 Total financial liabilities $ — $ — $ 65,931 $ 65,931
Schedule of Changes in the Estimated Fair Value	The following table summarizes the changes in the estimated fair value of the Company’s contingent consideration liabilities (in thousands): Contingent Consideration Fair Value Balance as of December 31, 2023 $ 65,931 Change in estimated fair value 18,609 Balance as of September 30, 2024 $ 84,540

Cash Equivalents and Investme_2

Cash Equivalents and Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule 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, 2024 and December 31, 2023 (in thousands): September 30, 2024 Amortized Cost Basis Unrealized Gain Unrealized Loss Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 7,288 $ — $ — $ 7,288 Total included in cash and cash equivalents 7,288 — — 7,288 Investments: U.S. treasury securities 70,346 51 — 70,397 Total included in short-term investments 70,346 51 — 70,397 Total financial assets $ 77,634 $ 51 $ — $ 77,685 December 31, 2023 Amortized Cost Basis Unrealized Gain Unrealized Loss Fair Value Financial Assets Cash and cash equivalents: Money market mutual funds $ 2,753 $ — $ — $ 2,753 Total included in cash and cash equivalents 2,753 — — 2,753 Investments: U.S. treasury securities 41,672 13 — 41,685 U.S. government agencies 26,248 — (10) 26,238 Corporate debt securities and commercial paper 8,935 — (3) 8,932 Total included in short-term investments 76,855 13 (13) 76,855 Total financial assets $ 79,608 $ 13 $ (13) $ 79,608

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories, Net	Inventories, net of reserves, consist of the following (in thousands): September 30, December 31, Raw materials $ 21,983 $ 14,310 Work-in-process 6,179 5,330 Finished goods 27,048 23,260 Total inventories, net $ 55,210 $ 42,900

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment consist of the following (in thousands): September 30, December 31, Manufacturing equipment $ 18,527 $ 16,653 Computer hardware 6,671 5,641 Assets in progress 5,902 3,135 Furniture and fixtures 4,584 4,491 Leasehold improvements 4,531 4,682 Total property and equipment, gross 40,215 34,602 Accumulated depreciation (16,117) (13,673) Total property and equipment, net $ 24,098 $ 20,929

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amounts of Goodwill	The changes in carrying amount of goodwill for the nine months ended September 30, 2024 were as follows (in thousands): Balance as of December 31, 2023 $ 214,335 Working capital adjustment (3,722) Foreign currency translation adjustments 2,732 Balance as of September 30, 2024 $ 213,345
Schedule of Identifiable Intangible Assets	The intangible assets consist of the following (in thousands): September 30, 2024 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Developed technology $ 152,716 $ (8,908) $ 143,808 Total intangible assets, net $ 152,716 $ (8,908) $ 143,808 December 31, 2023 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Developed technology $ 150,649 $ (1,256) $ 149,393 Capitalized software (a) 1,491 — 1,491 Total intangible assets, net $ 152,140 $ (1,256) $ 150,884 _____________ (a) The useful life of the capitalized software was not determined as of December 31, 2023 as the asset was not put into service. No amortization expense has been recorded related to the capitalized software during the three and nine months ended September 30, 2023.
Schedule of Estimated Future Annual Amortization of the Intangible Asset	The estimated future annual amortization of the intangible assets in service is as follows (in thousands): Year ending December 31: Amount Remainder of 2024 $ 2,545 2025 10,181 2026 10,181 2027 10,181 2028 10,181 Thereafter 100,539 Total $ 143,808

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Total Lease Cost	The following table presents the weighted average remaining lease term and discount rate: September 30, 2024 2023 Weighted average remaining term (in years) 16.1 18.2 Weighted average discount rate 6.1 % 6.1 % Cash paid for amounts included in the measurement of operating leases were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cash paid for amounts included in the measurement of operating lease liabilities $ 1,048 $ 866 $ 2,877 $ 2,564 Total lease costs are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating lease cost $ 1,385 $ 1,137 $ 3,929 $ 3,456 Short-term lease cost 48 22 141 85 Variable lease cost 184 402 746 809 Total lease costs $ 1,617 $ 1,561 $ 4,816 $ 4,350
Schedule of Future Minimum Lease Payments Under Operating Leases Liabilities	Future minimum lease payments under operating leases liabilities as of September 30, 2024 are as follows (in thousands): Year ending December 31: Amount Remainder of 2024 $ 858 2025 3,373 2026 3,512 2027 3,594 2028 3,396 Thereafter 35,771 Total lease payments 50,504 Less imputed interest (17,780) Total lease liabilities 32,724 Less: lease liabilities - current portion (1,579) Lease liabilities - noncurrent portion $ 31,145

Credit Facility (Tables)

Credit Facility (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Costs Incurred Directly Related to Debt	The unamortized deferred financings costs as of September 30, 2024 and December 31, 2023 are as follows (in thousands): September 30, 2024 December 31, 2023 Deferred financing costs $ 729 $ 1,454 Accumulated amortization (447) (382) Unamortized deferred financing costs $ 282 $ 1,072

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following is a summary of the changes in accumulated balances of other comprehensive income (loss) for the nine months ended September 30, 2024 and 2023 (in thousands): Unrealized Gain (Loss) on Investments Foreign Currency Translation Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2023 $ (9) $ 8,894 $ 8,885 Other comprehensive loss (4) (7,359) (7,363) Balance, March 31, 2024 (13) 1,535 1,522 Other comprehensive loss — (2,359) (2,359) Balance, June 30, 2024 (13) (824) (837) Other comprehensive income 64 13,918 13,982 Balance, September 30, 2024 $ 51 $ 13,094 $ 13,145 Unrealized Gain (Loss) on Investments Foreign Currency Translation Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2022 $ 1,820 $ (971) $ 849 Other comprehensive loss (865) 9 (856) Balance, March 31, 2023 955 (962) (7) Other comprehensive loss (1,095) (79) (1,174) Balance, June 30, 2023 (140) (1,041) (1,181) Other comprehensive income (loss) 91 (68) 23 Balance, September 30, 2023 $ (49) $ (1,109) $ (1,158)

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	A summary of stock option activity under the 2011 Plan for the nine months ended September 30, 2024 is as follows (intrinsic values in thousands): Number of Options Weighted Weighted Intrinsic Outstanding, December 31, 2023 937,696 $ 2.24 5.2 $ 58,778 Exercised (170,540) 2.02 $ 8,211 Cancelled (29) 9.05 Outstanding, September 30, 2024 767,127 2.28 4.5 $ 29,884 Vested and exercisable at September 30, 2024 767,127 2.28 4.5 $ 29,884 Vested and expected to vest at September 30, 2024 767,127 $ 2.28 4.5 $ 29,884 A summary of stock option activities under the 2020 Plan for the nine months ended September 30, 2024 is as follows (intrinsic values in thousands): Number of Options Weighted Weighted Intrinsic Outstanding, December 31, 2023 166,203 $ 56.00 6.1 $ 1,483 Granted 210,188 54.83 Exercised (270) 56.00 $ — Cancelled (7,157) 56.00 Outstanding, September 30, 2024 368,964 55.33 5.9 $ — Vested and exercisable at September 30, 2024 86,548 55.65 5.6 $ — Vested and expected to vest at September 30, 2024 343,736 $ 55.35 5.9 $ —
Schedule of RSU Activity	RSU activity under the 2020 Plan is set forth below: Number of Weighted Outstanding, December 31, 2023 1,307,998 $ 67.91 Granted 1,006,244 46.95 Vested (456,160) 67.69 Cancelled (104,090) 61.87 Outstanding, September 30, 2024 1,753,992 $ 56.30
Schedule of PSU Activity	PSU activity under the 2020 Plan is set forth below: Number of Weighted Outstanding, December 31, 2023 — $ — Granted 90,488 55.48 Outstanding, September 30, 2024 90,488 $ 55.48
Schedule of Estimated Fair Value of Option Grant and ESPP	The fair value for options granted was calculated using the following weighted average assumptions: Nine Months Ended September 30, 2024 2023 Expected term (in years) 4.5 4.6 Expected volatility 48.7% to 48.9% 50.4% Dividend yield 0.0% 0.0% Risk free interest rate 4.2% to 4.3% 4.1% Weighted-average fair value of options granted $24.89 per share $25.98 per share 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, 2024 2023 Expected term (in years) 0.5 0.5 Expected volatility 57.0% - 60.8% 42.1% - 49.9% Dividend yield 0.0% 0.0% Risk free interest rate 5.1% - 5.2% 4.8% - 5.5%
Schedule of Total Compensation Cost for All Share-Based Payment Arrangements Recognized	Total compensation cost for all share-based payment arrangements recognized, including $1.2 million and $0.7 million for the three months ended September 30, 2024 and 2023, respectively, and $3.5 million and $2.9 million for the nine months ended September 30, 2024 and 2023, respectively, of share-based compensation expense related to the ESPP, was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of goods sold $ 537 $ 393 $ 1,570 $ 1,232 Research and development 1,779 1,587 5,347 4,981 Selling, general and administrative 10,635 7,864 31,943 24,323 Total share-based compensation expense $ 12,951 $ 9,844 $ 38,860 $ 30,536

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2024
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, except for percentages): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (Loss) income before income taxes $ (12,672) $ 5,590 $ (50,181) $ 7,420 Provision for income taxes 5,695 2,428 23,736 4,391 Net (loss) income $ (18,367) $ 3,162 $ (73,917) $ 3,029 Provision for income taxes as a percentage of (loss) income before income taxes (44.9%) 43.4% (47.3%) 59.2 %

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Components of Net (Loss) Income per Share	The components of net (loss) income per share are as follows (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator: Net (loss) income $ (18,367) $ 3,162 $ (73,917) $ 3,029 Denominator: Weighted average number of common shares outstanding - basic 58,366,364 57,384,884 58,149,296 56,478,317 Common stock equivalents from outstanding equity grants — 1,102,642 — 1,173,190 Common stock equivalents from unvested RSUs and PSUs — 94,531 — 832,873 Common stock equivalents from ESPP — 6,395 — 11,541 Weighted average number of common shares outstanding - diluted 58,366,364 58,588,452 58,149,296 58,495,921 Net (loss) income per share: Basic $ (0.31) $ 0.06 $ (1.27) $ 0.05 Diluted $ (0.31) $ 0.05 $ (1.27) $ 0.05
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 due to their anti-dilutive effect: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Stock options 1,136,091 171,526 1,136,091 1,290,179 Equity awards 1,844,480 555,468 1,844,480 1,332,500 Total potentially dilutive common stock equivalents excluded from calculation due to anti-dilutive effect 2,980,571 726,994 2,980,571 2,622,679

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Accounting Policies [Abstract]
Unbilled receivables	$ 1,200,000		$ 1,200,000		$ 1,200,000
Allowance for credit losses	1,900,000		1,900,000		1,300,000
Equity securities without readily determinable fair value, amount	1,500,000		1,500,000		$ 1,500,000
Impairment loss on strategic investment	$ 0	$ 600,000	$ 0	$ 565,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 153,390	$ 126,366	$ 442,404	$ 361,538
United States
Disaggregation of Revenue [Line Items]
Revenue	141,854	119,825	411,321	345,473
International
Disaggregation of Revenue [Line Items]
Revenue	11,536	6,541	31,083	16,065
VTE
Disaggregation of Revenue [Line Items]
Revenue	145,346	121,460	420,213	349,604
Emerging Therapies
Disaggregation of Revenue [Line Items]
Revenue	$ 8,044	$ 4,906	$ 22,191	$ 11,934

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Cash Flow, Supplemental Disclosures (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Supplemental disclosures of cash flow information:
Cash paid for income taxes	$ 7,371	$ 3,562
Cash paid for interest	168	98
Noncash investing and financing:
Lease liabilities arising from obtaining new right-of-use assets	2,447	1,030
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	41,141	89,182	$ 38,597
Restricted cash	67	0
Total cash, cash equivalents and restricted cash as shown in the statement of cash flows	$ 41,208	$ 89,182	$ 39,208	$ 60,222

Business Combination - Narrativ

Business Combination - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
	Nov. 15, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Nov. 14, 2023
Business Acquisition [Line Items]
Working capital adjustment				$ 3,722
Acquisition-related expenses		$ 328	$ 2,681	4,143	$ 2,681
LimFlow
Business Acquisition [Line Items]
Working capital adjustment				$ 3,700
Maximum contingent consideration	$ 165,000
Range of outcomes on contingent consideration arrangements	$ 65,900
Acquiring equity interest percentage							3.70%
Percentage of voting interests acquired	96.30%
Fair value of previously held investment	$ 10,235					$ 10,200
Gain recognized, amount						3,500
Acquisition-related expenses						8,700
Severance and integration related costs						$ 1,700
LimFlow | Net Revenue
Business Acquisition [Line Items]
Maximum contingent consideration	140,000
LimFlow | Reimbursement Milestones
Business Acquisition [Line Items]
Maximum contingent consideration	$ 25,000

Business Combination - Schedule

Business Combination - Schedule of Total Purchase Price Consideration (Details) - USD ($) $ in Thousands		12 Months Ended
	Nov. 15, 2023	Dec. 31, 2023	Sep. 30, 2024
Business Acquisition [Line Items]
Fair value of contingent consideration			$ 84,500
LimFlow
Business Acquisition [Line Items]
Cash	$ 238,279
Fair value of contingent consideration	65,931
Fair value of previously held investment	10,235	$ 10,200
Total purchase price	$ 314,445

Business Combination - Schedu_2

Business Combination - Schedule of Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Nov. 15, 2023
Business Acquisition [Line Items]
Goodwill	$ 213,345	$ 214,335
LimFlow
Business Acquisition [Line Items]
Cash and cash equivalents			$ 1,582
Accounts receivable			919
Inventories			2,635
Property and equipment			266
Goodwill			204,078
Other current and noncurrent assets			2,155
Accounts payable			(2,509)
Deferred tax liability			(36,500)
Other current and noncurrent liabilities			(4,181)
Total net assets acquired			314,445
LimFlow | Developed technology
Business Acquisition [Line Items]
Intangible asset			$ 146,000

Business Combination - Schedu_3

Business Combination - Schedule of Fair Value Assigned to the Intangible Asset Acquired (Details) - LimFlow - Developed technology $ in Thousands	Nov. 15, 2023 USD ($)
Business Acquisition [Line Items]
Fair value	$ 146,000
Useful life	15 years

Business Combination - Schedu_4

Business Combination - Schedule of Pro Forma Information (Details) - LimFlow - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Business Acquisition [Line Items]
Revenue	$ 126,757	$ 362,848
Net loss	$ (6,245)	$ (28,452)

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financial Assets
Total included in short-term investments	$ 77,685	$ 79,608
Financial Liability
Contingent consideration	84,500
Fair Value, Recurring
Financial Assets
Total included in cash and cash equivalents	7,288	2,753
Total included in short-term investments	70,397	76,855
Total financial assets	77,685	79,608
Financial Liability
Contingent consideration	84,540	65,931
Total financial liabilities	84,540	65,931
Fair Value, Recurring | U.S. treasury securities
Financial Assets
Total included in short-term investments	70,397	41,685
Fair Value, Recurring | U.S. government agencies
Financial Assets
Total included in short-term investments		26,238
Fair Value, Recurring | Corporate debt securities and commercial paper
Financial Assets
Total included in short-term investments		8,932
Level 1 | Fair Value, Recurring
Financial Assets
Total included in cash and cash equivalents	7,288	2,753
Total included in short-term investments	70,397	41,685
Total financial assets	77,685	44,438
Financial Liability
Contingent consideration	0	0
Total financial liabilities	0	0
Level 1 | Fair Value, Recurring | U.S. treasury securities
Financial Assets
Total included in short-term investments	70,397	41,685
Level 1 | Fair Value, Recurring | U.S. government agencies
Financial Assets
Total included in short-term investments		0
Level 1 | Fair Value, Recurring | Corporate debt securities and commercial paper
Financial Assets
Total included in short-term investments		0
Level 2 | Fair Value, Recurring
Financial Assets
Total included in cash and cash equivalents	0	0
Total included in short-term investments	0	35,170
Total financial assets	0	35,170
Financial Liability
Contingent consideration	0	0
Total financial liabilities	0	0
Level 2 | Fair Value, Recurring | U.S. treasury securities
Financial Assets
Total included in short-term investments	0	0
Level 2 | Fair Value, Recurring | U.S. government agencies
Financial Assets
Total included in short-term investments		26,238
Level 2 | Fair Value, Recurring | Corporate debt securities and commercial paper
Financial Assets
Total included in short-term investments		8,932
Level 3 | Fair Value, Recurring
Financial Assets
Total included in cash and cash equivalents	0	0
Total included in short-term investments	0	0
Total financial assets	0	0
Financial Liability
Contingent consideration	84,540	65,931
Total financial liabilities	84,540	65,931
Level 3 | Fair Value, Recurring | U.S. treasury securities
Financial Assets
Total included in short-term investments	0	0
Level 3 | Fair Value, Recurring | U.S. government agencies
Financial Assets
Total included in short-term investments		0
Level 3 | Fair Value, Recurring | Corporate debt securities and commercial paper
Financial Assets
Total included in short-term investments		0
Money market mutual funds | Fair Value, Recurring
Financial Assets
Total included in cash and cash equivalents	7,288	2,753
Money market mutual funds | Level 1 | Fair Value, Recurring
Financial Assets
Total included in cash and cash equivalents	7,288	2,753
Money market mutual funds | Level 2 | Fair Value, Recurring
Financial Assets
Total included in cash and cash equivalents	0	0
Money market mutual funds | Level 3 | Fair Value, Recurring
Financial Assets
Total included in cash and cash equivalents	$ 0	$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Estimated Fair Value of the Contingent Consideration Liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 65,931
Change in estimated fair value	18,609
Ending balance	$ 84,540

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair value of contingent consideration	$ 84.5
Contingent consideration, liability, current	39.2
Contingent consideration, liability, noncurrent	$ 45.3	$ 65.9

Cash Equivalents and Investme_3

Cash Equivalents and Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Investment Income Reported Amounts by Category [Line Items]
Amortized Cost Basis	$ 77,634	$ 79,608
Unrealized Gain	51	13
Unrealized Loss	0	(13)
Short-term investments in debt securities	77,685	79,608
Cash and Cash Equivalents
Schedule of Investment Income Reported Amounts by Category [Line Items]
Amortized Cost Basis	7,288	2,753
Unrealized Gain	0	0
Unrealized Loss	0	0
Short-term investments in debt securities	7,288	2,753
Cash and Cash Equivalents | Money market mutual funds
Schedule of Investment Income Reported Amounts by Category [Line Items]
Amortized Cost Basis	7,288	2,753
Unrealized Gain	0	0
Unrealized Loss	0	0
Short-term investments in debt securities	7,288	2,753
Short-Term Investments
Schedule of Investment Income Reported Amounts by Category [Line Items]
Amortized Cost Basis	70,346	76,855
Unrealized Gain	51	13
Unrealized Loss	0	(13)
Short-term investments in debt securities	70,397	76,855
Short-Term Investments | U.S. treasury securities
Schedule of Investment Income Reported Amounts by Category [Line Items]
Amortized Cost Basis	70,346	41,672
Unrealized Gain	51	13
Unrealized Loss	0	0
Short-term investments in debt securities	$ 70,397	41,685
Short-Term Investments | U.S. government agencies
Schedule of Investment Income Reported Amounts by Category [Line Items]
Amortized Cost Basis		26,248
Unrealized Gain		0
Unrealized Loss		(10)
Short-term investments in debt securities		26,238
Short-Term Investments | Corporate debt securities and commercial paper
Schedule of Investment Income Reported Amounts by Category [Line Items]
Amortized Cost Basis		8,935
Unrealized Gain		0
Unrealized Loss		(3)
Short-term investments in debt securities		$ 8,932

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 21,983	$ 14,310
Work-in-process	6,179	5,330
Finished goods	27,048	23,260
Total inventories, net	$ 55,210	$ 42,900

Property and Equipment, net - S

Property and Equipment, net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Total property and equipment, gross	$ 40,215	$ 34,602
Accumulated depreciation	(16,117)	(13,673)
Total property and equipment, net	24,098	20,929
Manufacturing equipment
Property Plant And Equipment [Line Items]
Total property and equipment, gross	18,527	16,653
Computer hardware
Property Plant And Equipment [Line Items]
Total property and equipment, gross	6,671	5,641
Assets in progress
Property Plant And Equipment [Line Items]
Total property and equipment, gross	5,902	3,135
Furniture and fixtures
Property Plant And Equipment [Line Items]
Total property and equipment, gross	4,584	4,491
Leasehold improvements
Property Plant And Equipment [Line Items]
Total property and equipment, gross	$ 4,531	$ 4,682

Property and Equipment, net - N

Property and Equipment, net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating expenses
Property Plant And Equipment [Line Items]
Depreciation expense	$ 1,100	$ 1,100	$ 3,400	$ 3,400
Cost of goods sold
Property Plant And Equipment [Line Items]
Depreciation expense	$ 300	$ 300	$ 1,000	$ 800

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Carrying Amounts of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 214,335
Working capital adjustment	(3,722)
Foreign currency translation adjustments	2,732
Goodwill, ending balance	$ 213,345

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Identifiable Intangible Assets (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount			$ 152,716,000	$ 152,140,000
Accumulated Amortization			(8,908,000)	(1,256,000)
Intangible Assets, Net			143,808,000	150,884,000
Capitalized software, Gross Carrying Amount				1,491,000
Capitalized software, Accumulated Amortization				0
Capitalized software, Net			0	1,491,000
Capitalized software, amortization	$ 0	$ 0
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount			152,716,000	150,649,000
Accumulated Amortization			(8,908,000)	(1,256,000)
Intangible Assets, Net			$ 143,808,000	$ 149,393,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible asset	$ 2,504,000	$ 0	$ 7,414,000	$ 0
Intangible assets	143,808,000	$ 0	143,808,000	0	$ 150,884,000
Impairment of capitalized software development costs	3,800,000		3,789,000	$ 0
Capitalized computer software, net	$ 0		$ 0		$ 1,491,000

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Estimated Future Annual Amortization of the Intangible Asset (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Net	$ 143,808	$ 150,884
Developed technology
Finite-Lived Intangible Assets [Line Items]
Remainder of 2024	2,545
2025	10,181
2026	10,181
2027	10,181
2028	10,181
Thereafter	100,539
Intangible Assets, Net	$ 143,808	$ 149,393

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	Jul. 09, 2024 patent	May 22, 2024 patent	Sep. 30, 2024	Oct. 31, 2023 USD ($)
Lessee Lease Description [Line Items]
Lease not yet commenced, term of contract (in years)				10 years
Lease, liability to be paid | $				$ 7.2
Patent Infringement Lawsuit Against Imperative Care and Truvic
Lessee Lease Description [Line Items]
Gain contingency, patents allegedly infringed upon, number | patent	1	8
Maximum
Lessee Lease Description [Line Items]
Option to extend, operating lease, term (in years)			5 years

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Operating Lease Disclosure (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Weighted average remaining term (in years)	16 years 1 month 6 days	18 years 2 months 12 days	16 years 1 month 6 days	18 years 2 months 12 days
Weighted average discount rate	6.10%	6.10%	6.10%	6.10%
Cash paid for amounts included in the measurement of operating lease liabilities	$ 1,048	$ 866	$ 2,877	$ 2,564

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Total Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 1,385	$ 1,137	$ 3,929	$ 3,456
Short-term lease cost	48	22	141	85
Variable lease cost	184	402	746	809
Total lease costs	$ 1,617	$ 1,561	$ 4,816	$ 4,350

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Future Minimum Lease Payments Under Operating Leases Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2024	$ 858
2025	3,373
2026	3,512
2027	3,594
2028	3,396
Thereafter	35,771
Total lease payments	50,504
Less imputed interest	(17,780)
Total lease liabilities	32,724
Less: lease liabilities - current portion	(1,579)	$ (1,692)
Lease liabilities - noncurrent portion	$ 31,145	$ 30,355

Related Party (Details)

Related Party (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Development expenses incurred	$ 0	$ 67,000	$ 31,000	$ 147,000
Accounts payable	15,523,000		15,523,000		$ 10,577,000
Related Party
Related Party Transaction [Line Items]
Accounts payable	$ 0		$ 0		$ 0

Credit Facility - Narrative (De

Credit Facility - Narrative (Details) - Amended Credit Agreement - Bank of America Credit Facility - Line of Credit			9 Months Ended	12 Months Ended
	Nov. 01, 2023 USD ($)	Dec. 16, 2022 USD ($)	Sep. 30, 2024 USD ($) letterOfCredit	Dec. 31, 2023	Feb. 28, 2023 USD ($)
Revolving Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 75,000,000	$ 40,000,000
Line of credit facility, accordion feature, higher borrowing capacity option		120,000,000
Debt instrument, fee amount	$ 88,000	$ 10,000
Unused line fee at annual rate (as percent)		0.25%
Line of credit facility, amount available to borrow			$ 67,900,000
Principal amount outstanding			0
Cash pledged under credit agreement			$ 0
Debt instrument, term (in years)			5 years	5 years
Revolving Line of Credit | Federal Funds Rate
Debt Instrument [Line Items]
Term loan variable interest rate (as percent)		0.50%
Revolving Line of Credit | Federal Funds Rate | Minimum
Debt Instrument [Line Items]
Term loan variable interest rate (as percent)		0.50%
Revolving Line of Credit | Federal Funds Rate | Maximum
Debt Instrument [Line Items]
Term loan variable interest rate (as percent)		1%
Revolving Line of Credit | BSBY
Debt Instrument [Line Items]
Term loan variable interest rate (as percent)		1%
Basis spread on variable rate, floor (as percent)	0%	0%
Revolving Line of Credit | BSBY | Minimum
Debt Instrument [Line Items]
Term loan variable interest rate (as percent)	1.60%	1.50%
Revolving Line of Credit | BSBY | Maximum
Debt Instrument [Line Items]
Term loan variable interest rate (as percent)	2.10%	2%
Revolving Line of Credit | Base Rate | Minimum
Debt Instrument [Line Items]
Term loan variable interest rate (as percent)	0.60%
Revolving Line of Credit | Base Rate | Maximum
Debt Instrument [Line Items]
Term loan variable interest rate (as percent)	1.10%
Letter of Credit Subline Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 18,800,000	$ 5,000,000			$ 10,000,000
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%
Number of letter of credit | letterOfCredit			4
Letters of credit outstanding amount			$ 2,400,000

Credit Facility - Schedule of C

Credit Facility - Schedule of Costs Incurred Directly Related to Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Deferred financing costs	$ 729	$ 1,454
Accumulated amortization	(447)	(382)
Unamortized deferred financing costs	$ 282	$ 1,072

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 423,809	$ 447,230	$ 464,910	$ 435,645	$ 426,736	$ 417,002	$ 464,910	$ 417,002
Other comprehensive income (loss)	13,982	(2,359)	(7,363)	23	(1,174)	(856)	4,260	(2,007)
Balance at end of period	434,761	423,809	447,230	452,142	435,645	426,736	434,761	452,142
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(837)	1,522	8,885	(1,181)	(7)	849	8,885	849
Other comprehensive income (loss)	13,982	(2,359)	(7,363)	23	(1,174)	(856)
Balance at end of period	13,145	(837)	1,522	(1,158)	(1,181)	(7)	13,145	(1,158)
Unrealized Gain (Loss) on Investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(13)	(13)	(9)	(140)	955	1,820	(9)	1,820
Other comprehensive income (loss)	64	0	(4)	91	(1,095)	(865)
Balance at end of period	51	(13)	(13)	(49)	(140)	955	51	(49)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(824)	1,535	8,894	(1,041)	(962)	(971)	8,894	(971)
Other comprehensive income (loss)	13,918	(2,359)	(7,359)	(68)	(79)	9
Balance at end of period	$ 13,094	$ (824)	$ 1,535	$ (1,109)	$ (1,041)	$ (962)	$ 13,094	$ (1,109)

Equity Incentive Plans - Narrat

Equity Incentive Plans - Narrative (Details) - USD ($) $ in Thousands

1 Months Ended

3 Months Ended

9 Months Ended

53 Months Ended

Jan. 01, 2021

Jul. 31, 2024

Jan. 31, 2024

May 31, 2020

Mar. 31, 2020

Sep. 30, 2024

Mar. 31, 2024

Sep. 30, 2023

Mar. 31, 2023

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Jan. 01, 2024

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

Shares of common stock reserved for future issuance (in shares)

577,624

Shares issued under employee stock purchase plan (in shares)

133,430

82,816

Compensation cost

$ 12,951

$ 9,844

$ 38,860

$ 30,536

Nonvested award, cost not yet recognized, amount

$ 87,400

$ 87,400

$ 87,400

Nonvested award, cost not yet recognized, period

2 years 7 months 6 days

Common Stock

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

Shares issued under employee stock purchase plan (in shares)

133,430

82,816

118,494

86,051

Restricted Stock Units | Vesting, Option Two

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

Award vesting period (in years)

3 years

Employee Stock Option

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

Award vesting period (in years)

4 years

Employee Stock Purchase Plan

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

Compensation cost

$ 1,200

$ 700

$ 3,500

2,900

2020 Incentive Award Plan

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

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

3%

Number of shares available for issuance (in shares)

7,183,239

7,183,239

7,183,239

Shares of common stock reserved for future issuance (in shares)

1,732,872

2020 Incentive Award Plan | Restricted Stock Units

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

Award vesting period (in years)

4 years

Award cliff vesting period (in years)

1 year

Total fair value of RSUs vested

$ 7,700

$ 6,900

$ 23,900

$ 21,000

2020 Incentive Award Plan | Restricted Stock Units | Vesting, Option One | 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 | Restricted Stock Units | Vesting, Option One | Share-Based Payment Arrangement, Tranche Two

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

Cliff vesting, percentage

25%

2020 Incentive Award Plan | Restricted Stock Units | Vesting, Option One | Share-Based Payment Arrangement, Tranche Three

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

Cliff vesting, percentage

25%

2020 Incentive Award Plan | Restricted Stock Units | Vesting, Option One | Share-Based Payment Arrangement, Tranche Four

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

Cliff vesting, percentage

25%

2020 Incentive Award Plan | Performance Stock Units

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

Award vesting period (in years)

3 years

2020 Employee Share Purchase Plan

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

Shares of common stock reserved for future issuance (in shares)

2,465,007

2,465,007

2,465,007

Percentage of purchase price on fair market value of common stock

85%

Annual increase in number of shares available for issuance percentage

1%

2020 Employee Share Purchase Plan | Common Stock

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

Shares issued under employee stock purchase plan (in shares)

639,355

Maximum | 2020 Incentive Award Plan

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

Term of award (in years)

10 years

Maximum | 2020 Incentive Award Plan | Performance Stock Units

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

Payout percentage

200%

200%

200%

Minimum | 2020 Incentive Award Plan | Performance Stock Units

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

Payout percentage

0%

0%

0%

Equity Incentive Plans - Schedu

Equity Incentive Plans - Schedule of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
2011 Equity Incentive Plan
Number of Options
Balance at beginning of period (in shares) | shares	937,696
Exercised (in shares) | shares	(170,540)
Cancelled (in shares) | shares	(29)
Balance at end of period (in shares) | shares	767,127	937,696
Number of Awards, Vested and exercisable (in shares) | shares	767,127
Number of Awards, Vested and expected to vest (in shares) | shares	767,127
Weighted Average Exercise Price
Balance at beginning of period (in dollars per share) | $ / shares	$ 2.24
Exercised (in dollars per share) | $ / shares	2.02
Cancelled (in dollars per share) | $ / shares	9.05
Balance at end of period (in dollars per share) | $ / shares	2.28	$ 2.24
Weighted Average Exercise Price, Vested and exercisable (in dollars per share) | $ / shares	2.28
Weighted Average Exercise Price, Vested and expected to vest (in dollars per share) | $ / shares	$ 2.28
Weighted Average Remaining Contractual Life (in years)
Outstanding	4 years 6 months	5 years 2 months 12 days
Vested and exercisable	4 years 6 months
Vested and expected to vest	4 years 6 months
Intrinsic Value
Balance at beginning of period | $	$ 58,778
Exercised | $	8,211
Balance at end of period | $	29,884	$ 58,778
Intrinsic Value, Vested and exercisable | $	29,884
Intrinsic Value, Vested and expected to vest | $	$ 29,884
2020 Incentive Award Plan
Number of Options
Balance at beginning of period (in shares) | shares	166,203
Granted (in shares) | shares	210,188
Exercised (in shares) | shares	(270)
Cancelled (in shares) | shares	(7,157)
Balance at end of period (in shares) | shares	368,964	166,203
Number of Awards, Vested and exercisable (in shares) | shares	86,548
Number of Awards, Vested and expected to vest (in shares) | shares	343,736
Weighted Average Exercise Price
Balance at beginning of period (in dollars per share) | $ / shares	$ 56
Granted (in dollars per share) | $ / shares	54.83
Exercised (in dollars per share) | $ / shares	56
Cancelled (in dollars per share) | $ / shares	56
Balance at end of period (in dollars per share) | $ / shares	55.33	$ 56
Weighted Average Exercise Price, Vested and exercisable (in dollars per share) | $ / shares	55.65
Weighted Average Exercise Price, Vested and expected to vest (in dollars per share) | $ / shares	$ 55.35
Weighted Average Remaining Contractual Life (in years)
Outstanding	5 years 10 months 24 days	6 years 1 month 6 days
Vested and exercisable	5 years 7 months 6 days
Vested and expected to vest	5 years 10 months 24 days
Intrinsic Value
Balance at beginning of period | $	$ 1,483
Exercised | $	0
Balance at end of period | $	0	$ 1,483
Intrinsic Value, Vested and exercisable | $	0
Intrinsic Value, Vested and expected to vest | $	$ 0

Equity Incentive Plans - Sche_2

Equity Incentive Plans - Schedule of RSU and PSU Activity (Details) - 2020 Incentive Award Plan	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Restricted Stock Units
Number of Awards
Balance at beginning of period (in shares) | shares	1,307,998
Granted (in shares) | shares	1,006,244
Vested (in shares) | shares	(456,160)
Cancelled (in shares) | shares	(104,090)
Balance at end of period (in shares) | shares	1,753,992
Weighted Average Fair Value
Balance at beginning of period (in dollars per share) | $ / shares	$ 67.91
Granted (in dollars per share) | $ / shares	46.95
Vested (in dollars per share) | $ / shares	67.69
Cancelled (in dollars per share) | $ / shares	61.87
Balance at end of period (in dollars per share) | $ / shares	$ 56.30
Performance Stock Units
Number of Awards
Balance at beginning of period (in shares) | shares	0
Granted (in shares) | shares	90,488
Balance at end of period (in shares) | shares	90,488
Weighted Average Fair Value
Balance at beginning of period (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	55.48
Balance at end of period (in dollars per share) | $ / shares	$ 55.48

Equity Incentive Plans - Sche_3

Equity Incentive Plans - Schedule of Estimated Fair Value of Option Grant and ESPP on Date of Grant (Details) - $ / shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
2020 Incentive Award Plan | Stock options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	4 years 6 months	4 years 7 months 6 days
Expected volatility - minimum	48.70%
Expected volatility - maximum	48.90%
Expected volatility		50.40%
Dividend yield	0%	0%
Risk free interest rate- minimum	4.20%
Risk free interest rate - maximum	4.30%
Risk free interest rate		4.10%
Weighted-average fair value of options granted (in dollars per share)	$ 24.89	$ 25.98
2020 Employee Share Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 months	6 months
Expected volatility - minimum	57%	42.10%
Expected volatility - maximum	60.80%	49.90%
Dividend yield	0%	0%
Risk free interest rate- minimum	5.10%	4.80%
Risk free interest rate - maximum	5.20%	5.50%

Equity Incentive Plans - Sche_4

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 12,951	$ 9,844	$ 38,860	$ 30,536
Cost of goods sold
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	537	393	1,570	1,232
Research and development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	1,779	1,587	5,347	4,981
Selling, general and administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 10,635	$ 7,864	$ 31,943	$ 24,323

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
(Loss) income before income taxes	$ (12,672)			$ 5,590			$ (50,181)	$ 7,420
Provision for income taxes	5,695			2,428			23,736	4,391
Net (loss) income	$ (18,367)	$ (31,348)	$ (24,202)	$ 3,162	$ 2,085	$ (2,218)	$ (73,917)	$ 3,029
Provision for income taxes as a percentage of (loss) income before income taxes	(44.90%)			43.40%			(47.30%)	59.20%

Retirement Plan (Details)

Retirement Plan (Details) - USD ($)		1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 01, 2024	Jan. 31, 2021	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Retirement Benefits [Abstract]
401 (k) Plan					Qualified Plan [Member]
Minimum employee service period (in months)					1 month
Employer matching contribution, percent of match	100%	100%
Maximum participating employee annual contributions		$ 3,000
Participating employee eligible compensation	5%	4%
Individual limit on employer match					$ 15,000
Matching contribution expense recognized			$ 3,100,000	$ 2,000,000	$ 10,600,000	$ 6,900,000

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Schedule of Computation of Net Loss (Income) per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net (loss) income	$ (18,367)	$ (31,348)	$ (24,202)	$ 3,162	$ 2,085	$ (2,218)	$ (73,917)	$ 3,029
Denominator:
Weighted average number of common shares outstanding - basic (in shares)	58,366,364			57,384,884			58,149,296	56,478,317
Weighted average number of common shares outstanding - diluted (in shares)	58,366,364			58,588,452			58,149,296	58,495,921
Net (loss) income per share:
Basic (in dollars per share)	$ (0.31)			$ 0.06			$ (1.27)	$ 0.05
Diluted (in dollars per share)	$ (0.31)			$ 0.05			$ (1.27)	$ 0.05
Stock options
Denominator:
Common stock equivalents from outstanding equity grants (in shares)	0			1,102,642			0	1,173,190
Unvested RSUs and PSUs
Denominator:
Common stock equivalents from outstanding equity grants (in shares)	0			94,531			0	832,873
ESPP
Denominator:
Common stock equivalents from outstanding equity grants (in shares)	0			6,395			0	11,541

Net Income (Loss) Per Share -_2

Net Income (Loss) Per Share - Schedule of Outstanding Potentially Dilutive Common Stock Equivalents Excluded from Calculation of Diluted Net Loss Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded From Computation of Earnings Per Share [Line Items]
Total potentially dilutive common stock equivalents excluded from calculation due to anti-dilutive effect (in shares)	2,980,571	726,994	2,980,571	2,622,679
Stock options
Antidilutive Securities Excluded From Computation of Earnings Per Share [Line Items]
Total potentially dilutive common stock equivalents excluded from calculation due to anti-dilutive effect (in shares)	1,136,091	171,526	1,136,091	1,290,179
Equity awards
Antidilutive Securities Excluded From Computation of Earnings Per Share [Line Items]
Total potentially dilutive common stock equivalents excluded from calculation due to anti-dilutive effect (in shares)	1,844,480	555,468	1,844,480	1,332,500