AtriCure, Inc. engages in the development, manufacture, and sale of devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, the Asia-Pacific, and internationally. It offers Isolator Synergy Ablation System clamps, a single-use disposable radio frequency products; multifunctional pens and linear ablation devices, a single-use disposable RF products for the treatment of cardiac arrhythmias; cryoICE Cryoablation System that enables the user to make linear ablations of varied lengths; and EPi-Sense Systems, a single-use disposable device used for the treatment of symptomatic, drug-refractory, and long-standing persistent atrial fibrillation. It also provides cryoSPHERE probe, which provides temporary pain relief by applying cryothermic energy to targeted intercoastal peripheral nerves in the ribcage; AtriClip System, an implantable device coupled to a single-use disposable applier; cryoXT probes, a cryoablation device designed specifically for Cryo Nerve Block therapy; LARIAT System, a solution for soft-tissue closure; Lumitip dissectors to separate tissues to provide access to key anatomical structures that are targeted for ablation; Glidepath guides for placement of clamps; and Subtle Cannula's to support access for EPi-Sense catheters. In addition, the company sells various reusable cardiac surgery instruments. It markets and sells its products through independent distributors and direct sales personnel. The company was incorporated in 2000 and is headquartered in Mason, Ohio.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $535M | $16M | $-11M | $42M | -2.3% | 14.9% | -74.4% |
| 2024 | $465M | $-19M | $-45M | $-11M | -9.7% | 16.5% | 46.8% |
| 2023 | $399M | $-8M | $-30M | $-38M | -6.5% | 20.8% | -34.5% |
| 2022 | $330M | $-30M | $-46M | $-39M | -10.2% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 330.38 | 399.24 | 465.31 | 534.53 |
| Operating Revenue | - | 330.38 | 399.24 | 465.31 | 534.53 |
| Cost Of Revenue | - | 84.44 | 98.88 | 117.78 | 133.75 |
| Gross Profit | - | 245.94 | 300.37 | 347.52 | 400.78 |
| Operating Expense | - | 288.61 | 327.05 | 387.54 | 410.23 |
| Research And Development | - | 57.34 | 73.92 | 96.18 | 99.21 |
| Selling General And Administration | - | 231.27 | 253.14 | 291.36 | 311.02 |
| Total Expenses | - | 373.05 | 425.93 | 505.32 | 543.98 |
| Operating Income | - | -42.67 | -26.68 | -40.01 | -9.45 |
| Total Operating Income As Reported | - | -42.67 | -26.68 | -40.01 | -9.45 |
| EBITDA | - | -29.50 | -8.11 | -18.53 | 16.25 |
| Normalized EBITDA | - | -29.50 | -8.11 | -17.17 | 16.25 |
| EBIT | - | -41.21 | -22.92 | -37.27 | -4.28 |
| Interest Income | - | 1.99 | 3.79 | 4.43 | 4.48 |
| Interest Expense | - | 4.99 | 6.92 | 6.41 | 5.88 |
| Net Interest Income | - | -2.99 | -3.13 | -1.97 | -1.40 |
| Other Non Operating Income Expenses | - | -0.54 | -0.03 | -0.33 | 0.68 |
| Other Income Expense | - | -0.54 | -0.03 | -1.69 | 0.68 |
| Interest Income Non Operating | - | 1.99 | 3.79 | 4.43 | 4.48 |
| Interest Expense Non Operating | - | 4.99 | 6.92 | 6.41 | 5.88 |
| Pretax Income | - | -46.20 | -29.85 | -43.67 | -10.16 |
| Tax Provision | - | 0.27 | 0.59 | 1.02 | 1.28 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | -0.29 | 0 |
| Net Income Continuous Operations | - | -46.47 | -30.44 | -44.70 | -11.45 |
| Net Income From Continuing And Discontinued Operation | - | -46.47 | -30.44 | -44.70 | -11.45 |
| Net Income From Continuing Operation Net Minority Interest | - | -46.47 | -30.44 | -44.70 | -11.45 |
| Net Income | - | -46.47 | -30.44 | -44.70 | -11.45 |
| Net Income Common Stockholders | - | -46.47 | -30.44 | -44.70 | -11.45 |
| Net Income Including Noncontrolling Interests | - | -46.47 | -30.44 | -44.70 | -11.45 |
| Normalized Income | - | -46.47 | -30.44 | -43.62 | -11.45 |
| Diluted NI Availto Com Stockholders | - | -46.47 | -30.44 | -44.70 | -11.45 |
| Basic Average Shares | - | 45.74 | 46.31 | 46.96 | 47.75 |
| Diluted Average Shares | - | 45.74 | 46.31 | 46.96 | 47.75 |
| Reconciled Depreciation | - | 11.71 | 14.81 | 18.73 | 20.53 |
| Reconciled Cost Of Revenue | - | 84.44 | 98.88 | 117.78 | 133.75 |
| Total Unusual Items | - | 0 | 0 | -1.36 | 0 |
| Total Unusual Items Excluding Goodwill | - | 0 | 0 | -1.36 | 0 |
| Special Income Charges | - | 0 | 0 | -1.36 | 0 |
| Other Special Charges | - | - | - | 1.36 | - |
| Impairment Of Capital Assets | 82.30 | 0 | 0 | - | - |
| Restructuring And Mergern Acquisition | -184.80 | 0 | 0 | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| AtriCure, Inc.this co. | ATRC | $1.4B | -120.63 | 2.81 | -2.3% | 79.22 |
| Septerna, Inc. | SEPN | $1.4B | -28.93 | 3.70 | -12.8% | -16.63 |
| Maze Therapeutics, Inc. | MAZE | $1.4B | -10.72 | 3.96 | -36.9% | -8.82 |
| Healthcare Services Group, Inc. | HCSG | $1.4B | 23.77 | 2.75 | 11.6% | 14.94 |
| Precigen, Inc. | PGEN | $1.4B | -5.49 |
| - |
| - |
| - |
| - |
| 65.81 |
| -1198.6% |
| -5.93 |
| Integra LifeSciences Holdings Corporation | IART | $1.4B | -2.65 | 1.31 | -49.5% | -9.72 |
| MapLight Therapeutics, Inc. | MPLT | $1.4B | - | 2.98 | -35.2% | - |
| Butterfly Network, Inc. | BFLY | $1.4B | - | 6.93 | -39.3% | - |
| UroGen Pharma Ltd. | URGN | $1.3B | -8.76 | -12.75 | 145.5% | -10.04 |
| Peer Median | - | -7.13 | 3.34 | -36.0% | -9.27 | |