ATRC
AtriCureDDocument history
Earnings documents stored for ATRC.
Investor releaseQuarter not tagged2026-08-07Two AtriCure Directors Trimmed Shares After a Strong Quarter. Here's What Matters for Investors
Motley Fool
Two AtriCure Directors Trimmed Shares After a Strong Quarter. Here's What Matters for Investors
Maggie Yuen, a director at AtriCure, Inc. (NASDAQ:ATRC), reported a sale of 3,500 shares of common stock on August 5, 2026, according to a recent SEC Form 4 filing. Transaction value based on SEC Form 4 weighted average sale price ($38.42); post-transaction value based on August 05, 2026 market close ($39.34). What was the scale of the transaction relative to the insider's total position?Yuen reduced her direct equity stake by 20%, bringing her total beneficial ownership to 14,015 shares. How does the execution price compare to recent market levels?The 3,500 shares were sold at a weighted average price of $38.42, which was slightly below the $39.34 market close on the day of the transaction. Shares have shown relative stability, priced at $39.49 as of the August 6 market close. What is the company's current financial profile in the healthcare sector?AtriCure is a medical device company with a market capitalization of $2.0 billion. The firm reported trailing twelve-month revenue of $569.6 million, maintaining a focus on specialized cardiac treatment technologies. AtriCure designs, manufactures, and markets specialized medical devices for the surgical treatment of cardiac tissue and intercostal nerves, including radiofrequency ablation technologies such as the Isolator Synergy Clamps and multifunctional surgical pens like the MAX Pen that enable surgeons to diagnose and treat cardiac arrhythmias. The company generates revenue through the sale of proprietary ablation and surgical devices to hospitals and surgical centers, leveraging its specialized technology platform to address unmet clinical needs in cardiac surgery and arrhythmia management. AtriCure serves cardiac surgeons and surgical teams across the United States, Europe, Asia, and other international markets, with its products integrated into standard surgical protocols for atrial fibrillation and other cardiac conditions. AtriCure is a focused medical device company with a $2.0 billion market capitalization and $569.6 million in TTM revenue, positioning itself as a specialized provider of cardiac surgical solutions. The company maintains a differentiated product portfolio centered on radiofrequency ablation technology, which provides competitive advantages in the treatment of cardiac arrhythmias and related conditions. With a global distribution network spanning multiple continent, AtriCure has establi…Read full documentShow less
Maggie Yuen, a director at AtriCure, Inc. (NASDAQ:ATRC), reported a sale of 3,500 shares of common stock on August 5, 2026, according to a recent SEC Form 4 filing. Transaction value based on SEC Form 4 weighted average sale price ($38.42); post-transaction value based on August 05, 2026 market close ($39.34). What was the scale of the transaction relative to the insider's total position?Yuen reduced her direct equity stake by 20%, bringing her total beneficial ownership to 14,015 shares. How does the execution price compare to recent market levels?The 3,500 shares were sold at a weighted average price of $38.42, which was slightly below the $39.34 market close on the day of the transaction. Shares have shown relative stability, priced at $39.49 as of the August 6 market close. What is the company's current financial profile in the healthcare sector?AtriCure is a medical device company with a market capitalization of $2.0 billion. The firm reported trailing twelve-month revenue of $569.6 million, maintaining a focus on specialized cardiac treatment technologies. AtriCure designs, manufactures, and markets specialized medical devices for the surgical treatment of cardiac tissue and intercostal nerves, including radiofrequency ablation technologies such as the Isolator Synergy Clamps and multifunctional surgical pens like the MAX Pen that enable surgeons to diagnose and treat cardiac arrhythmias. The company generates revenue through the sale of proprietary ablation and surgical devices to hospitals and surgical centers, leveraging its specialized technology platform to address unmet clinical needs in cardiac surgery and arrhythmia management. AtriCure serves cardiac surgeons and surgical teams across the United States, Europe, Asia, and other international markets, with its products integrated into standard surgical protocols for atrial fibrillation and other cardiac conditions. AtriCure is a focused medical device company with a $2.0 billion market capitalization and $569.6 million in TTM revenue, positioning itself as a specialized provider of cardiac surgical solutions. The company maintains a differentiated product portfolio centered on radiofrequency ablation technology, which provides competitive advantages in the treatment of cardiac arrhythmias and related conditions. With a global distribution network spanning multiple continent, AtriCure has established itself as a significant player in the cardiac surgery device market. Two AtriCure directors sold on the same day, and Yuen's cut ran deeper in percentage terms, clearing a fifth of her direct stake in one go. That kind of matching timing might mean a trading window opened after earnings and a couple of board members stepped through it together, not that either soured on the company.More importantly for long-term investors, the company gave them a solid quarter to sell into. AtriCure grew second-quarter revenue 13% to $154 million, and its appendage-management franchise, built around its AtriClip devices for reducing stroke risk, rose 14% on newer Mini versions. CEO Michael Carrel pointed to growth "fueled by continued adoption" across its franchises, and gross margin widened to 77%, all of which helped management lift its full-year outlook. Shares have recovered quite a bit since June lows of around $25, surging more than 60%, and they’re up about 15% over the past year. After a strong quarter, whether the latest momentum continues will depend a lot on continued execution — much more than share sales like this one. Before you buy stock in AtriCure, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and AtriCure wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $397,405!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,344,091!* That performance is why people listen. With a track record of beating the S&P 500 by 4x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 7, 2026. Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Two AtriCure Directors Trimmed Shares After a Strong Quarter. Here's What Matters for Investors was originally published by The Motley Fool
Investor releaseQuarter not tagged2026-07-28AtriCure, Inc. (ATRC) Beat Earnings Estimates. Here’s What Could Drive ATRC Stock Next
Insider Monkey
AtriCure, Inc. (ATRC) Beat Earnings Estimates. Here’s What Could Drive ATRC Stock Next
AtriCure, Inc. (NASDAQ:ATRC) has been delivering revenue growth and improved profitability, but the bigger question for investors is whether the latest results had any underlying catalysts strong enough to support the long-term growth potential. The company reported its Q2 FY26 earnings on July 23, delivering revenue of $153.6 million and an adjusted EPS of $0.18. With healthy growth and a step up in profitability, the company’s revenue and adjusted EPS exceeded the consensus estimates by $1.79 million and $0.16, respectively. This marks a solid 800% EPS beat. The highlight of the quarter was net income of $9 million, compared with a net loss of $6.2 million in Q2 of 2025. Thanks to the continued adoption in the pain management franchise, appendage management franchise, and open ablation franchise, the company delivered $27 million in adjusted EBITDA. Copyright: nimon / 123RF Stock Photo Gross margin increased to 77.2% in Q2 2026, up 270 basis points from the Q2 2025 level, primarily driven by product innovation, geographic mix, and efficiencies. The company’s US business was up 14% YoY, with worldwide revenue growing 13%. While the appendage management franchise grew 14% in the quarter, driven by AtriClip FLEX-Mini and PRO-Mini products, pain management saw another fantastic quarter, delivering 27% worldwide growth. This was due to the adoption of CryoSphere MAX. Management expects continued gross margin benefits in the second half, despite a small headwind from its new manufacturing facility, which is aimed at enhancing the current manufacturing capability and capacity. The key catalyst is post-operative AFib, the healthcare spending for which surpasses $2 billion annually. Through the BoxX-NoAF clinical study, AtriCure, Inc. (NASDAQ:ATRC) will be able to capitalize on this opportunity. The company is on track to enroll all 960 patients by the year-end, even ahead of its original plan. The second most powerful catalyst is its LeAAPS clinical trial, which focuses on cardiac surgery patients without AFib. This will help broaden the company’s addressable market. Together, these two studies will provide AtriCure, Inc. (NASDAQ:ATRC) with complementary paths for label expansion in the cardiac surgery market. The company is also engaged in increasing the adoption of the Encompass clamp. The new STS quality metric on concomitant AFib treatment is anticipated to e…Read full documentShow less
AtriCure, Inc. (NASDAQ:ATRC) has been delivering revenue growth and improved profitability, but the bigger question for investors is whether the latest results had any underlying catalysts strong enough to support the long-term growth potential. The company reported its Q2 FY26 earnings on July 23, delivering revenue of $153.6 million and an adjusted EPS of $0.18. With healthy growth and a step up in profitability, the company’s revenue and adjusted EPS exceeded the consensus estimates by $1.79 million and $0.16, respectively. This marks a solid 800% EPS beat. The highlight of the quarter was net income of $9 million, compared with a net loss of $6.2 million in Q2 of 2025. Thanks to the continued adoption in the pain management franchise, appendage management franchise, and open ablation franchise, the company delivered $27 million in adjusted EBITDA. Copyright: nimon / 123RF Stock Photo Gross margin increased to 77.2% in Q2 2026, up 270 basis points from the Q2 2025 level, primarily driven by product innovation, geographic mix, and efficiencies. The company’s US business was up 14% YoY, with worldwide revenue growing 13%. While the appendage management franchise grew 14% in the quarter, driven by AtriClip FLEX-Mini and PRO-Mini products, pain management saw another fantastic quarter, delivering 27% worldwide growth. This was due to the adoption of CryoSphere MAX. Management expects continued gross margin benefits in the second half, despite a small headwind from its new manufacturing facility, which is aimed at enhancing the current manufacturing capability and capacity. The key catalyst is post-operative AFib, the healthcare spending for which surpasses $2 billion annually. Through the BoxX-NoAF clinical study, AtriCure, Inc. (NASDAQ:ATRC) will be able to capitalize on this opportunity. The company is on track to enroll all 960 patients by the year-end, even ahead of its original plan. The second most powerful catalyst is its LeAAPS clinical trial, which focuses on cardiac surgery patients without AFib. This will help broaden the company’s addressable market. Together, these two studies will provide AtriCure, Inc. (NASDAQ:ATRC) with complementary paths for label expansion in the cardiac surgery market. The company is also engaged in increasing the adoption of the Encompass clamp. The new STS quality metric on concomitant AFib treatment is anticipated to enhance the adoption even further. With that said, management sees $602 million-$610 million in revenue for the year. The company also raised its adjusted EBITDA guidance to nearly $85 million-$89 million and an EPS of roughly $0.05-$0.13 for the full-year 2026. At its current price, ATRC appears reasonably valued. The company trades at a forward P/B of 2.95x, below the sector median of 3.47x. The valuation becomes even more compelling when we consider the company’s long-term potential. As the company capitalizes on the billion-dollar opportunity, many big names are expected to compete. For instance, on June 29, Edwards Lifesciences Corporation (NYSE:EW) received FDA approval for its Ecliptis left atrial appendage exclusion system, which will directly compete with AtriCure’s AtriClip platform. Earlier, the company was facing competition from Medtronic plc (NYSE:MDT), as the latter rolled out the Penditure LAA exclusion system in November 2023. However, analysts at Canaccord Genuity believe the launch will have minimal impact on the company’s AtriClip business, which remains well-positioned in the surgical left atrial appendage closure market. Similarly, Medtronic’s launch had little impact on the company’s product. The company also experiences international softness, particularly in the U.K. and Germany. While this has the potential to weigh on future results, management is optimistic that Encompass adoption will offset the impact of CryoSphere probe losing reimbursement in that market. According to Insider Monkey’s database, the hedge fund ownership dipped marginally to 27 funds in Q1 2026 from 28 in the previous quarter. The relatively small change suggests that institutional investors have largely maintained their exposure to the company amid its growth momentum. Several notable hedge funds maintain positions in ATRC, including Hood River Capital Management and Marshall Wace LLP. Overall, the company is a compelling long-term investment case, driven by the growing adoption of the Encompass clamp and its potential to capitalize on the post-operative AFib opportunity. With management raising its adjusted EBITDA guidance and the stock trading below the sector median, ATRC appears reasonably valued relative to its growth potential. However, investors should continue to monitor the competitive landscape and international headwinds. While we acknowledge the potential of ATRC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years Disclosure: None. Follow Insider Monkey on Google News.
Investor releaseQuarter not tagged2026-07-24AtriCure Inc (ATRC) Q2 2026 Earnings Call Highlights: Strong Revenue Growth and Profitability ...
GuruFocus.com
AtriCure Inc (ATRC) Q2 2026 Earnings Call Highlights: Strong Revenue Growth and Profitability ...
This article first appeared on GuruFocus. Worldwide Revenue: $154 million, growth of 13% year over year. US Revenue: $125.6 million, increase of 13.6% year over year. Adjusted EBITDA: Over $27 million. Net Income: $9 million, compared to a net loss of $6.2 million in the prior year. Gross Margin: 77.2%, approximately 270 basis points higher than the previous year. Pain Management Revenue: $27.1 million, growth of 27.8% year over year. Open Ablation Revenue: $40.9 million, up 12.1% year over year. Appendage Management Revenue: $51.6 million, growth of 14.4% year over year. International Revenue: $28 million, up 9.6% on a reported basis. Cash and Investments: $167.8 million, with $22 million in cash generated during the quarter. Full-Year Revenue Guidance: $602 million to $610 million, reflecting growth of 12.5% to 14% over 2025. Full-Year Adjusted EBITDA Guidance: $85 million to $89 million. Full-Year Earnings Per Share Guidance: $0.05 to $0.13, adjusted earnings per share of $0.24 to $0.32. Is ATRC fairly valued? Test your thesis with our free DCF calculator. Release Date: July 23, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. AtriCure Inc (NASDAQ:ATRC) reported a solid second-quarter revenue of $154 million, marking a 13% growth year-over-year. The company achieved over $27 million in adjusted EBITDA and $9 million in net income, indicating strong profitability improvements. The BoxX-NoAF clinical study has surpassed the 50% enrollment mark, with over 500 patients enrolled, ahead of schedule. The pain management franchise experienced a 27% worldwide growth, driven by the adoption of cryoSPHERE MAX. AtriCure Inc (NASDAQ:ATRC) raised its full-year adjusted EBITDA outlook to approximately $85 million to $89 million, reflecting confidence in continued financial performance. The minimally invasive ablation business remains under pressure due to market focus on PFA catheters. International revenue growth was slower, with a 9.6% increase on a reported basis and 7.1% on a constant-currency basis. The UK market continues to face challenges, with sequentially flat performance due to reimbursement issues. The company anticipates ongoing pressure within MIS ablation and certain international markets. There is a potential risk of competition in the appendage management market, with new entrants possibly impacti…Read full documentShow less
This article first appeared on GuruFocus. Worldwide Revenue: $154 million, growth of 13% year over year. US Revenue: $125.6 million, increase of 13.6% year over year. Adjusted EBITDA: Over $27 million. Net Income: $9 million, compared to a net loss of $6.2 million in the prior year. Gross Margin: 77.2%, approximately 270 basis points higher than the previous year. Pain Management Revenue: $27.1 million, growth of 27.8% year over year. Open Ablation Revenue: $40.9 million, up 12.1% year over year. Appendage Management Revenue: $51.6 million, growth of 14.4% year over year. International Revenue: $28 million, up 9.6% on a reported basis. Cash and Investments: $167.8 million, with $22 million in cash generated during the quarter. Full-Year Revenue Guidance: $602 million to $610 million, reflecting growth of 12.5% to 14% over 2025. Full-Year Adjusted EBITDA Guidance: $85 million to $89 million. Full-Year Earnings Per Share Guidance: $0.05 to $0.13, adjusted earnings per share of $0.24 to $0.32. Is ATRC fairly valued? Test your thesis with our free DCF calculator. Release Date: July 23, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. AtriCure Inc (NASDAQ:ATRC) reported a solid second-quarter revenue of $154 million, marking a 13% growth year-over-year. The company achieved over $27 million in adjusted EBITDA and $9 million in net income, indicating strong profitability improvements. The BoxX-NoAF clinical study has surpassed the 50% enrollment mark, with over 500 patients enrolled, ahead of schedule. The pain management franchise experienced a 27% worldwide growth, driven by the adoption of cryoSPHERE MAX. AtriCure Inc (NASDAQ:ATRC) raised its full-year adjusted EBITDA outlook to approximately $85 million to $89 million, reflecting confidence in continued financial performance. The minimally invasive ablation business remains under pressure due to market focus on PFA catheters. International revenue growth was slower, with a 9.6% increase on a reported basis and 7.1% on a constant-currency basis. The UK market continues to face challenges, with sequentially flat performance due to reimbursement issues. The company anticipates ongoing pressure within MIS ablation and certain international markets. There is a potential risk of competition in the appendage management market, with new entrants possibly impacting market share. Q: Can you discuss the impact of new competitors entering the appendage management market and how AtriCure plans to maintain its market position? A: Michael Carrel, President and CEO, explained that the entry of larger companies validates the market opportunity. AtriCure is ahead with superior products, ongoing innovation, and a strong clinical compendium. The company has invested in clinical trials and maintains a robust field and education team to support its leadership position. Q: What is driving the growth in the pain management business, and can it become AtriCure's second-largest franchise? A: Michael Carrel noted that growth is driven by underpenetrated thoracotomy procedures and expanding into sternotomy and limb amputation areas. The cryoSPHERE MAX probe has significantly contributed to this growth, and the franchise has potential to become a major revenue driver. Q: How sustainable is the profitability seen in this quarter, and what are the expectations for adjusted EBITDA in the coming years? A: Angela Wirick, CFO, highlighted strong gross margins and controlled operating expenses as key drivers. The company is ahead of its long-range plan and expects to maintain profitability while funding growth opportunities, aiming for competitive margins by 2030. Q: Can you provide an update on the international markets, particularly the UK and Asia Pacific? A: Angela Wirick mentioned that Asia Pacific markets showed recovery, while the UK and Germany faced challenges. The company is optimistic about international market rebound and has incorporated these pressures into its guidance for the year. Q: What are the expectations for the BoxX-NoAF trial, and what is the timeline for FDA submission and approval? A: Michael Carrel stated that the trial is ahead of schedule, with data expected by mid-2027. The trial is a PMA product, and the company plans to submit to the FDA after data presentation, with approval anticipated about a year later. For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Investor releaseQuarter not tagged2026-07-23AtriCure (ATRC) Reports Q2 Earnings: What Key Metrics Have to Say
Zacks
AtriCure (ATRC) Reports Q2 Earnings: What Key Metrics Have to Say
AtriCure (ATRC) reported $153.6 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 12.8%. EPS of $0.18 for the same period compares to -$0.02 a year ago. The reported revenue represents a surprise of +1.39% over the Zacks Consensus Estimate of $151.5 million. With the consensus EPS estimate being $0.03, the EPS surprise was +500%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how AtriCure performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: United States Revenue- Pain management: $27.06 million versus the three-analyst average estimate of $24.91 million. The reported number represents a year-over-year change of +27.8%. International Revenue- Pain management: $2.38 million versus $2.56 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +17.1% change. United States Revenue- Total ablation ( Open ablation+Minimally invasive ablation+Pain management): $73.97 million compared to the $71.95 million average estimate based on three analysts. The reported number represents a change of +13% year over year. International Revenue- Total ablation ( Open ablation+Minimally invasive ablation+Pain management): $15.64 million versus $16.12 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6% change. United States Revenue- Total: $125.59 million versus the three-analyst average estimate of $122.88 million. The reported number represents a year-over-year change of +13.6%. International Revenue- Appendage management: $12.37 million compared to the $12.57 million average estimate based on three analysts. The reported number represents a change of +14.5% year over year. United States Revenue- Open ablation: $40.89 million compared to the $40.9 million average estimate based on three analysts. The reported number represents a change of +12…Read full documentShow less
AtriCure (ATRC) reported $153.6 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 12.8%. EPS of $0.18 for the same period compares to -$0.02 a year ago. The reported revenue represents a surprise of +1.39% over the Zacks Consensus Estimate of $151.5 million. With the consensus EPS estimate being $0.03, the EPS surprise was +500%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how AtriCure performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: United States Revenue- Pain management: $27.06 million versus the three-analyst average estimate of $24.91 million. The reported number represents a year-over-year change of +27.8%. International Revenue- Pain management: $2.38 million versus $2.56 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +17.1% change. United States Revenue- Total ablation ( Open ablation+Minimally invasive ablation+Pain management): $73.97 million compared to the $71.95 million average estimate based on three analysts. The reported number represents a change of +13% year over year. International Revenue- Total ablation ( Open ablation+Minimally invasive ablation+Pain management): $15.64 million versus $16.12 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6% change. United States Revenue- Total: $125.59 million versus the three-analyst average estimate of $122.88 million. The reported number represents a year-over-year change of +13.6%. International Revenue- Appendage management: $12.37 million compared to the $12.57 million average estimate based on three analysts. The reported number represents a change of +14.5% year over year. United States Revenue- Open ablation: $40.89 million compared to the $40.9 million average estimate based on three analysts. The reported number represents a change of +12.1% year over year. International Revenue- Open ablation: $11.24 million compared to the $11.39 million average estimate based on three analysts. The reported number represents a change of +8.6% year over year. United States Revenue- Minimally invasive ablation: $6.03 million versus $6.14 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -23.1% change. International Revenue- Minimally invasive ablation: $2.02 million versus $2.17 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -14.8% change. United States Revenue- Appendage management: $51.61 million versus $50.93 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +14.4% change. International Revenue- Total: $28.02 million versus the three-analyst average estimate of $28.7 million. The reported number represents a year-over-year change of +9.6%. View all Key Company Metrics for AtriCure here>>> Shares of AtriCure have returned +18.5% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AtriCure, Inc. (ATRC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research
Investor releaseQuarter not tagged2026-07-23AtriCure Q2 Swings to Adjusted Earnings, Revenue Rises
MT Newswires
AtriCure Q2 Swings to Adjusted Earnings, Revenue Rises
AtriCure (ATRC) reported Q2 adjusted earnings late Thursday of $0.18 per diluted share, swinging fro
Investor releaseQuarter not tagged2026-07-23AtriCure Q2 Earnings Call Highlights
MarketBeat
AtriCure Q2 Earnings Call Highlights
Interested in AtriCure, Inc.? Here are five stocks we like better. AtriCure posted strong Q2 2026 results, with revenue up 12.8% to $153.6 million and a return to GAAP profitability. Adjusted EBITDA jumped 78% year over year to $27.3 million, while net income improved to $9 million from a $6.2 million loss a year earlier. Growth was led by pain management, appendage management and open ablation, while minimally invasive ablation remained under pressure. Pain management was the fastest-growing franchise, up 27% worldwide, driven by CryoSphere MAX and early traction for CryoXT. Management raised full-year guidance, now expecting 2026 revenue of $602 million to $610 million and adjusted EBITDA of $85 million to $89 million. The company also highlighted advancing BoxX-NoAF and LeAAPS trials, which could support future label expansion and long-term growth. AtriCure (NASDAQ:ATRC) reported double-digit revenue growth and a return to GAAP profitability in the second quarter of 2026, with management pointing to strong demand across its pain management, appendage management and open ablation franchises while noting continued pressure in minimally invasive ablation. The medical device company generated worldwide revenue of $153.6 million, up 12.8% on a reported basis and 12.4% in constant currency from the second quarter of 2025, according to Chief Financial Officer Angela Wirick. U.S. revenue rose 13.6% to $125.6 million, while international revenue increased 9.6% on a reported basis to $28 million. → Could Truth API Become Trump Media’s First Meaningful Revenue Driver? President and CEO Michael Carrel said the quarter reflected “solid” performance and highlighted improving profitability. AtriCure recorded adjusted EBITDA of $27.3 million, up 78% from $15.4 million a year earlier. Net income was $9 million, compared with a net loss of $6.2 million in the prior-year quarter. Earnings per share and adjusted earnings per share were both $0.18, compared with a loss per share of $0.13 and an adjusted loss per share of $0.02 a year earlier. AtriCure’s U.S. business was supported by continued adoption of several newer devices, including CryoSphere MAX and cryoXT in pain management, AtriClip FLEX-Mini and PRO-Mini in appendage management, and the Encompass clamp in open ablation. → 3 Photonics Companies Making Quantum Tech Possible Pain management was the company’s fastest-gr…Read full documentShow less
Interested in AtriCure, Inc.? Here are five stocks we like better. AtriCure posted strong Q2 2026 results, with revenue up 12.8% to $153.6 million and a return to GAAP profitability. Adjusted EBITDA jumped 78% year over year to $27.3 million, while net income improved to $9 million from a $6.2 million loss a year earlier. Growth was led by pain management, appendage management and open ablation, while minimally invasive ablation remained under pressure. Pain management was the fastest-growing franchise, up 27% worldwide, driven by CryoSphere MAX and early traction for CryoXT. Management raised full-year guidance, now expecting 2026 revenue of $602 million to $610 million and adjusted EBITDA of $85 million to $89 million. The company also highlighted advancing BoxX-NoAF and LeAAPS trials, which could support future label expansion and long-term growth. AtriCure (NASDAQ:ATRC) reported double-digit revenue growth and a return to GAAP profitability in the second quarter of 2026, with management pointing to strong demand across its pain management, appendage management and open ablation franchises while noting continued pressure in minimally invasive ablation. The medical device company generated worldwide revenue of $153.6 million, up 12.8% on a reported basis and 12.4% in constant currency from the second quarter of 2025, according to Chief Financial Officer Angela Wirick. U.S. revenue rose 13.6% to $125.6 million, while international revenue increased 9.6% on a reported basis to $28 million. → Could Truth API Become Trump Media’s First Meaningful Revenue Driver? President and CEO Michael Carrel said the quarter reflected “solid” performance and highlighted improving profitability. AtriCure recorded adjusted EBITDA of $27.3 million, up 78% from $15.4 million a year earlier. Net income was $9 million, compared with a net loss of $6.2 million in the prior-year quarter. Earnings per share and adjusted earnings per share were both $0.18, compared with a loss per share of $0.13 and an adjusted loss per share of $0.02 a year earlier. AtriCure’s U.S. business was supported by continued adoption of several newer devices, including CryoSphere MAX and cryoXT in pain management, AtriClip FLEX-Mini and PRO-Mini in appendage management, and the Encompass clamp in open ablation. → 3 Photonics Companies Making Quantum Tech Possible Pain management was the company’s fastest-growing franchise, with worldwide revenue up 27% in the quarter. U.S. pain management sales reached $27.1 million, up 27.8% year over year. Carrel said CryoSphere MAX remained a key driver, with the company continuing to add accounts while also seeing early traction in sternotomy procedures. During the question-and-answer portion of the call, Wirick said CryoSphere MAX represented about 75% of U.S. pain management revenue and that the company ended the quarter with “a little over 700 active accounts” in pain management. Carrel also pointed to early momentum for CryoXT, which is designed for use in amputation procedures. He said the product was included in a presentation at the Society for Vascular Surgery annual meeting and that early adopters are reporting improvements in patient experience and recovery. Management said CryoXT is expected to contribute more meaningfully to revenue in the second half of the year, though from a small base. → AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off Open ablation revenue increased 11% worldwide, led by the Encompass clamp. U.S. open ablation product sales were $40.9 million, up 12.1% year over year. Carrel said the company expects further adoption from a new Society of Thoracic Surgeons quality metric on concomitant AFib treatment, which he described as a potential long-term catalyst for surgical AFib ablation and left atrial appendage management. Appendage management revenue grew 14% in the quarter. U.S. sales of appendage management products increased 14.4% to $51.6 million, reflecting adoption of AtriClip FLEX-Mini and PRO-Mini devices. Carrel said the mini devices now account for 45% of appendage management revenue in their respective open and minimally invasive categories. The company’s minimally invasive ablation business continued to decline, contributing $6 million in U.S. revenue for the quarter. Carrel said the market remains focused on treating patients with pulsed field ablation, or PFA, catheters. He added that AtriCure still believes hybrid AFib therapy has a role in patients with longstanding persistent AFib, but said broader stabilization is needed before the franchise can return to growth. “We have seen referral patterns for hybrid procedures stabilize over the last several quarters in a small subset of accounts,” Carrel said. “However, we need to see this stabilization across a broader customer base before we can expect return to growth for this franchise.” Management emphasized progress in two major clinical trials that AtriCure says could expand the market for its cardiac surgery products. The BoxX-NoAF clinical study, which evaluates ablation and left atrial appendage management in cardiac surgery patients without a history of AFib, has surpassed 50% enrollment with more than 500 patients enrolled. AtriCure expects to complete enrollment of 960 patients by the end of 2026, ahead of its original plan, and anticipates data readouts in the first half of 2027. Carrel said the company sees a large unmet need in preventing post-operative AFib, noting that U.S. healthcare spending for the condition exceeds $2 billion annually. In response to an analyst question, he said the trial’s first endpoint is post-operative AFib measured 30 days after final enrollment, with a potential data presentation at a major medical meeting in 2027. He said the product is under a PMA pathway and that approval could take roughly a year after submission to the FDA. AtriCure is also continuing follow-up of more than 6,500 patients enrolled in the LeAAPS trial, which is studying the stroke reduction benefit of left atrial appendage management in cardiac surgery patients without AFib. Carrel said LeAAPS and BoxX-NoAF provide “multiple complementary paths for label expansion” and could be catalysts in the cardiac surgery market. AtriCure updated its 2026 outlook, now expecting revenue of $602 million to $610 million, representing growth of approximately 12.5% to 14% over 2025. The company expects growth to be led by pain management, appendage management and open ablation, while pressure persists in minimally invasive ablation and certain international markets. Wirick said AtriCure expects normal seasonal patterns in the second half, with third-quarter revenue down 1% to 2% sequentially from the second quarter, followed by a rebound in the fourth quarter. The company raised its adjusted EBITDA outlook to approximately $85 million to $89 million for 2026, implying an adjusted EBITDA margin of about 14% at the midpoint of guidance. AtriCure also reiterated its expectation for full-year net income and projected full-year earnings per share of approximately $0.05 to $0.13, with adjusted earnings per share of approximately $0.24 to $0.32. AtriCure ended the quarter with $167.8 million in cash and investments and generated approximately $22 million in cash during the quarter. Wirick said the company expects positive cash generation through the remainder of the year. During the call, analysts asked about new competitors in the appendage management market. Carrel said new entrants validate the market opportunity, but argued AtriCure has advantages in product innovation, clinical evidence and physician education. He said competitive trialing in the back half of the year is incorporated into the company’s guidance. Internationally, Wirick said Asia-Pacific weakness discussed in the prior quarter appeared transitory, while Europe saw softness in key markets including the U.K. and Germany. She said the company’s outlook incorporates continued pressure in certain markets. Carrel concluded that AtriCure’s double-digit revenue growth, margin improvement and profitability leave the company “well ahead” of its long-range plan, while ongoing trials could shape the company’s next decade. AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company's solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF. The company's product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "AtriCure Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.
Investor releaseQuarter not tagged2026-07-23AtriCure Reports Second Quarter 2026 Financial Results
Business Wire
AtriCure Reports Second Quarter 2026 Financial Results
Second Quarter 2026 worldwide revenue of $153.6 million, an increase of 12.8% year over year Second Quarter 2026 profitability strengthened, with net income of $9.0 million and adjusted EBITDA of $27.3 million Second Quarter 2026 cash generation of $21.6 million MASON, Ohio, July 23, 2026--(BUSINESS WIRE)--AtriCure, Inc. (Nasdaq: ATRC), a leading innovator in surgical treatments and therapies for atrial fibrillation (Afib), left atrial appendage (LAA) management and post-operative pain management, today announced second quarter 2026 financial results. "Our team delivered healthy growth and a significant step up in profitability in the second quarter," said Michael Carrel, President and Chief Executive Officer. "Our innovative technologies continue to prove their value, with strong growth in pain management bolstering our leading cardiac surgery portfolio. Meanwhile, we are rapidly advancing our BoxX-NoAF and LeAAPS clinical trials towards data readouts that we believe will inform and drive the next era of cardiac surgery patient care and growth for AtriCure. We remain confident in our ability to create lasting value for patients and shareholders." Second Quarter 2026 Financial Results Worldwide revenue for the second quarter 2026 was $153.6 million, an increase of 12.8% over second quarter 2025 revenue (12.4% on a constant currency basis). U.S. revenue was $125.6 million, an increase of $15.0 million or 13.6%, compared to the second quarter 2025. U.S. revenue growth was driven by sales of our cryoSPHERE® MAX™ probe for post-operative pain management, EnCompass® clamp in open ablation, and AtriClip FLEX-Mini® and AtriClip PRO-Mini® devices for appendage management. International revenue increased $2.5 million or 9.6% (7.1% on a constant currency basis) to $28.0 million, with growth in appendage management, open ablation, and pain management franchises. Gross profit for the second quarter 2026 was $118.6 million compared to $101.5 million for the second quarter 2025. Gross margin was 77.2% for the second quarter 2026, an increase of 269 basis points from the second quarter 2025, driven primarily by favorable product and geographic mix, along with manufacturing efficiencies. Income from operations for the second quarter 2026 was $9.7 million, compared to a loss from operations of $6.2 million for the second quarter 2025. Basic and diluted net income per share w…Read full documentShow less
Second Quarter 2026 worldwide revenue of $153.6 million, an increase of 12.8% year over year Second Quarter 2026 profitability strengthened, with net income of $9.0 million and adjusted EBITDA of $27.3 million Second Quarter 2026 cash generation of $21.6 million MASON, Ohio, July 23, 2026--(BUSINESS WIRE)--AtriCure, Inc. (Nasdaq: ATRC), a leading innovator in surgical treatments and therapies for atrial fibrillation (Afib), left atrial appendage (LAA) management and post-operative pain management, today announced second quarter 2026 financial results. "Our team delivered healthy growth and a significant step up in profitability in the second quarter," said Michael Carrel, President and Chief Executive Officer. "Our innovative technologies continue to prove their value, with strong growth in pain management bolstering our leading cardiac surgery portfolio. Meanwhile, we are rapidly advancing our BoxX-NoAF and LeAAPS clinical trials towards data readouts that we believe will inform and drive the next era of cardiac surgery patient care and growth for AtriCure. We remain confident in our ability to create lasting value for patients and shareholders." Second Quarter 2026 Financial Results Worldwide revenue for the second quarter 2026 was $153.6 million, an increase of 12.8% over second quarter 2025 revenue (12.4% on a constant currency basis). U.S. revenue was $125.6 million, an increase of $15.0 million or 13.6%, compared to the second quarter 2025. U.S. revenue growth was driven by sales of our cryoSPHERE® MAX™ probe for post-operative pain management, EnCompass® clamp in open ablation, and AtriClip FLEX-Mini® and AtriClip PRO-Mini® devices for appendage management. International revenue increased $2.5 million or 9.6% (7.1% on a constant currency basis) to $28.0 million, with growth in appendage management, open ablation, and pain management franchises. Gross profit for the second quarter 2026 was $118.6 million compared to $101.5 million for the second quarter 2025. Gross margin was 77.2% for the second quarter 2026, an increase of 269 basis points from the second quarter 2025, driven primarily by favorable product and geographic mix, along with manufacturing efficiencies. Income from operations for the second quarter 2026 was $9.7 million, compared to a loss from operations of $6.2 million for the second quarter 2025. Basic and diluted net income per share were $0.18 for the second quarter 2026, compared to basic and diluted net loss per share of $0.13 for the second quarter 2025. Adjusted EBITDA for the second quarter 2026 was $27.3 million, an increase of $11.9 million or 78% from the second quarter 2025. For the second quarter 2026, adjusted earnings per share was $0.18, compared to $0.02 adjusted loss per share for the second quarter 2025. Constant currency revenue, adjusted EBITDA and adjusted earnings (loss) per share are non-GAAP financial measures. We discuss these non-GAAP financial measures and provide reconciliations to GAAP measures later in this release. 2026 Financial Guidance Full year 2026 revenue is projected to be approximately $602 million to $610 million, and management also projects full year 2026 adjusted EBITDA of approximately $85 million to $89 million. Full year 2026 net income per share is expected to be in the range of $0.05 to $0.13, and adjusted earnings per share is expected to be in the range of $0.24 to $0.32. Additionally, management expects continued positive cash generation for 2026. Conference Call AtriCure will host a conference call at 4:30 p.m. Eastern Time on Thursday, July 23, 2026, to discuss second quarter 2026 financial results. To access the webcast, please visit the Investors page of AtriCure’s corporate website at https://ir.atricure.com/events-and-presentations/events. Participants are encouraged to register more than 15 minutes before the webcast start time. A replay of the presentation will be available for 90 days following the presentation. About AtriCure AtriCure, Inc. provides innovative technologies for the treatment of Afib and related conditions. Afib affects more than 59 million people worldwide. Surgeons around the globe use AtriCure technologies for the treatment of Afib, reduction of Afib related complications, and post-operative pain management. AtriCure’s Isolator® Synergy™ Ablation System is the first medical device to receive FDA approval for the treatment of persistent Afib. AtriCure’s AtriClip® Left Atrial Appendage Exclusion System products are the most widely sold LAA management devices worldwide. AtriCure’s Hybrid AF™ Therapy is a minimally invasive procedure that provides a lasting solution for long-standing persistent Afib patients. AtriCure’s cryoICE cryoSPHERE® and cryoXT® probes are cleared for temporary ablation of peripheral nerves to block pain, providing pain relief in cardiac, thoracic and amputation procedures. For more information, visit AtriCure.com or follow us on X @AtriCure. Forward-Looking Statements Except for historical information, certain statements in this press release, including financial guidance and outlook, are forward-looking in nature and are subject to risks, uncertainties and assumptions about us. Our business and operations are subject to a variety of risks and uncertainties and, consequently, actual results may differ materially from those projected by any forward-looking statements. These risks and uncertainties include, but are not limited to, the following: our estimate of the market for our products; the rate and degree of market acceptance of our products; negative clinical data; competition from existing and new products and procedures, including the development of drugs or catheter-based technologies; our reliance on independent distributors to sell our products; inventory-related charges; the timing of and ability to obtain and maintain regulatory clearances and approvals for our products; impacts of rising healthcare costs; our ability to comply with extensive FDA regulations; the timing of and ability to obtain third party payor reimbursement of procedures utilizing our products; unfavorable publicity; the potential impact of any acquisitions, mergers, dispositions, joint ventures or investments we may make; disruptions to our manufacturing operations; the impact of tariffs or other restrictive trade measures; our failure to properly manage growth; disruptions of critical information systems or material breaches in the security of our systems; our ability to manage our intellectual property rights to provide meaningful protection; fluctuation of quarterly financial results; fluctuations in foreign currency exchange rates; reliance on third party manufacturers and suppliers; and litigation, administrative or other proceedings. These risks and uncertainties, as well as others, are discussed in greater detail in our filings with the Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 19, 2026. There may be additional risks of which we are not presently aware or that we currently believe are immaterial which could have an adverse impact on our business. Any forward-looking statements are based on our current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. We make no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change. Use of Non-GAAP Financial Measures To supplement AtriCure’s condensed consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, AtriCure provides certain non-GAAP financial measures in this release as supplemental financial metrics. Revenue reported on a constant currency basis is a non-GAAP measure, calculated by applying previous period foreign currency exchange rates to each of the comparable periods. Management analyzes revenue on a constant currency basis to better measure the comparability of results between periods. Because changes in foreign currency exchange rates have a non-operating impact on revenue, the Company believes that evaluating growth in revenue on a constant currency basis provides an additional and meaningful assessment of revenue for both management and investors. Adjusted EBITDA is calculated as net income (loss) before other income/expense (including interest), income tax expense, depreciation and amortization expense, share-based compensation expense, and non-recurring charges that are not reflective of the operational results of the Company’s core business and may affect comparability of results period-over-period. Non-recurring charges include acquisition costs, acquired-in-process research and development (IPR&D) and related milestone payments arising from asset acquisitions, legal settlement costs, impairment of intangible assets and changes in fair value of contingent consideration liabilities. Management believes in order to properly understand short-term and long-term financial trends, investors may wish to consider the impact of these excluded items in addition to GAAP measures. The excluded items vary in frequency and/or impact on our continuing results of operations and management believes that the excluded items are typically not reflective of our ongoing core business operations and financial condition. Further, management uses adjusted EBITDA for both strategic and annual operating planning. A reconciliation of adjusted EBITDA reported in this release to the most comparable GAAP measure for the respective periods appears in the table captioned "Reconciliation of Non-GAAP Adjusted Income (Adjusted EBITDA)" later in this release. Adjusted earnings (loss) per share is a non-GAAP measure which calculates the net income (loss) per share before non-cash adjustments in fair value of contingent consideration liabilities, acquired IPR&D and related milestone payments arising from asset acquisitions, legal settlement costs, impairment of intangible assets and debt extinguishment. The non-GAAP financial measures used by AtriCure may not be the same or calculated in the same manner as those used and calculated by other companies. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for AtriCure’s financial results prepared and reported in accordance with GAAP. We urge investors to review the reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures included in this press release, and not to rely on any single financial measure to evaluate our business. View source version on businesswire.com: https://www.businesswire.com/news/home/20260723794845/en/ Contacts Angie WirickAtriCure, Inc.Chief Financial Officer(513) [email protected] Marissa BychGilmartin GroupInvestor Relations(415) [email protected]
Investor releaseQuarter not tagged2026-07-23AtriCure: Q2 Earnings Snapshot
Associated Press
AtriCure: Q2 Earnings Snapshot
MASON, Ohio (AP) — MASON, Ohio (AP) — AtriCure Inc. (ATRC) on Thursday reported second-quarter net income of $9 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Mason, Ohio-based company said it had profit of 18 cents. The medical device maker posted revenue of $153.6 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $151.5 million. AtriCure expects full-year earnings in the range of 24 cents to 32 cents per share, with revenue in the range of $602 million to $610 million. AtriCure shares have dropped 16% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $33.25, an increase of nearly 8% in the last 12 months. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ATRC at https://www.zacks.com/ap/ATRC
Investor releaseQuarter not tagged2026-07-23AtriCure (ATRC) Q2 Earnings and Revenues Top Estimates
Zacks
AtriCure (ATRC) Q2 Earnings and Revenues Top Estimates
AtriCure (ATRC) came out with quarterly earnings of $0.18 per share, beating the Zacks Consensus Estimate of $0.03 per share. This compares to a loss of $0.02 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +500.00%. A quarter ago, it was expected that this medical device maker would post a loss of $0.07 per share when it actually produced break-even earnings, delivering a surprise of +100%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. AtriCure, which belongs to the Zacks Medical - Products industry, posted revenues of $153.6 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.39%. This compares to year-ago revenues of $136.14 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. AtriCure shares have lost about 15.3% since the beginning of the year versus the S&P 500's gain of 9.6%. While AtriCure has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for AtriCure was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks…Read full documentShow less
AtriCure (ATRC) came out with quarterly earnings of $0.18 per share, beating the Zacks Consensus Estimate of $0.03 per share. This compares to a loss of $0.02 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +500.00%. A quarter ago, it was expected that this medical device maker would post a loss of $0.07 per share when it actually produced break-even earnings, delivering a surprise of +100%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. AtriCure, which belongs to the Zacks Medical - Products industry, posted revenues of $153.6 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.39%. This compares to year-ago revenues of $136.14 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. AtriCure shares have lost about 15.3% since the beginning of the year versus the S&P 500's gain of 9.6%. While AtriCure has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for AtriCure was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.03 on $150.98 million in revenues for the coming quarter and $0.13 on $604.74 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Products is currently in the bottom 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Village Farms (VFF), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 10. This greenhouse operator is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of -80%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Village Farms' revenues are expected to be $56.13 million, down 6.3% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AtriCure, Inc. (ATRC) : Free Stock Analysis Report Village Farms International, Inc. (VFF) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research
TranscriptFY2026 Q22026-07-23FY2026 Q2 earnings call transcript
Earnings source - 89 paragraphs
FY2026 Q2 earnings call transcript
Good afternoon, welcome to AtriCure's Q2 2026 earnings conference call. This call is being recorded for replay purposes. At this time, all participants are in listen-only mode. We will be facilitating a question and answer session following prepared remarks from AtriCure's management. I would now like to turn the call over to Marissa Bych from the Gilmartin Group for a few introductory comments. You may begin.
Thank you. By now, you should have received a copy of the earnings press release. If you have not received a copy, please call 513-644-4484 to have one emailed to you. Before we begin today, let me remind you that the company's remarks include forward-looking statements. Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond AtriCure's control, including risks and uncertainties described from time to time in AtriCure's SEC filings. These statements include, but are not limited to, financial expectations and guidance, expectations regarding the potential market opportunity for AtriCure's franchises and growth initiatives, future product approvals and clearances, competition, reimbursement, and clinical trial enrollment and outcomes. AtriCure's results may differ materially from those projected. AtriCure undertakes no obligation to publicly update any forward-looking statements.
Additionally, we refer to non-GAAP financial measures, specifically constant currency revenue growth, adjusted EBITDA, and adjusted earnings or loss per share. A reconciliation of these non-GAAP financial measures with the most directly comparable GAAP measures is included in our press release, which is available on our website. With that, I would like to turn the call over to Michael Carrel, President and CEO.
Thank you, Marissa, and good afternoon, everyone. Thank you for joining us on today's call. AtriCure delivered solid Q2 results with worldwide revenue of $154 million and growth of 13%. Our U.S. business led the growth with an increase of 14% year-over-year, fueled by continued adoption of CryoSphere MAX and cryoXT probes in our pain management franchise, AtriClip FLEX-Mini and PRO-Mini devices in our appendage management franchise, and the Encompass clamp in our open ablation franchise. We also generated over $27 million of adjusted EBITDA and $9 million of net income, further reinforcing the outstanding progress we are making to improve profitability and demonstrate the overall strength of our business. As we enter the back half of the year, the breadth of our platform gives me tremendous confidence, and I'm energized by what our team can accomplish as we advance our key strategic initiatives.
To that point, I would like to take a moment to highlight one of these strategic initiatives, the BoxX-NoAF clinical study, the benefits of ablation and LAA management in cardiac surgery procedures for patients without a history of AFib. We started enrolling this trial in the fourth quarter of last year and have now surpassed the 50% enrollment mark with over 500 patients in the trial. We remain on track to complete full enrollment of 960 total patients by the end of this year, well ahead of our original plan. We believe the speed of enrollment and site engagement reflect a strong interest and value that cardiac surgeons place on managing the most common complication of cardiac surgery and the sheer size of the market opportunity. Post-operative AFib places a significant burden on their patients, and the need goes beyond patient care.
In the U.S. alone, healthcare spending for post-operative AFib exceeds $2 billion annually. The magnitude of this unmet need further underscores the critical importance of this trial. Based on our current trajectory, we are positioned for clinical trial data readouts in the first half of 2027 and are excited about the opportunity to advance preventative therapies in cardiac surgery. Meanwhile, we are making great progress with our LeAAPS clinical trial, which is investigating the stroke reduction benefit of left atrial appendage management in cardiac surgery patients without AFib. We continue to follow the more than 6,500 patients enrolled in LeAAPS as we get closer to the clinical trial outcomes. Together, these two clinical trials give AtriCure multiple complementary paths for label expansion on our devices and represent powerful catalysts for AtriCure in the cardiac surgery market. Now, I will walk you through our franchise performance in the Q2.
Pain management had another fantastic quarter, delivering 27% worldwide growth, driven primarily by the adoption of CryoSphere MAX. While we continue to add accounts at a robust pace, we remain at the front end of a long growth trajectory as we penetrate deeper into thoracic surgery and see building traction in sternotomy procedures. We recently completed evaluations of CryoSphere MAX at two major cancer centers in the U.S. with positive outcomes and continue to expand our field team to support this growth. Additionally, I want to highlight our newest product innovation in pain management, the CryoXT probe, designed for use in amputation procedures. Our team recently attended the Society for Vascular Surgery annual meeting in Boston, where CryoXT was included in a presentation on optimizing outcomes in below-the-knee amputations. The message was clear and mirrors what we are seeing in the early adopters with CryoXT.
Surgeons and care teams see a difference with CryoXT in the patient experience and an improvement in the recovery from their surgeries. While we are still in the early stages of therapy awareness and adoption, we are encouraged by our progress and expect CryoXT to contribute more meaningfully in revenue in the back half of this year. Turning to our cardiac ablation franchises. Open ablation revenue increased 11% worldwide in the Q2, led by continued adoption of the Encompass clamp. We are four years into our full U.S. launch and still see Encompass driving strong growth. In key international markets, we are gaining momentum behind the more recent Encompass launches. Looking ahead, we anticipate an uptick in adoption as a result of the new STS quality metric on concomitant AFib treatment.
As we highlighted in our Q1 call, quality metrics have historically been powerful catalysts for the adoption in cardiac surgery. We believe this change will further increase the use of surgical AFib ablation and left atrial appendage management, creating a meaningful and sustainable growth catalyst for the business with significant long-term growth opportunity. Our minimally invasive ablation business remained under pressure in the Q2 with the continued focus in the market on treating patients with PFA catheters. We believe there's a role for hybrid AFib therapy for patients with longstanding persistent AFib and are directing our efforts to support hybrid therapy customers. We have seen referral patterns for hybrid procedures stabilize over the last several quarters in a small subset of accounts. However, we need to see this stabilization across a broader customer base before we can expect return to growth for this franchise.
Finally, our appendage management franchise grew 14% in the Q2, driven by both our open and minimally invasive appendage management products. In the U.S., growth was fueled by the adoption of the AtriClip FLEX-Mini in open chest procedures and AtriClip PRO-Mini for minimally invasive surgery. Both products now account for 45% of our appendage management revenue in total and in open and MIS appendage management categories, respectively. Surgeon feedback on the AtriClip mini devices is incredibly positive, with a significant size reduction, proven product, and clinical performance of the AtriClip platform underscoring their feedback. Internationally, growth has been supported by the continued utilization of our legacy AtriClip devices. The upcoming European launch of AtriClip FLEX-Mini and PRO-Mini, coupled with the ongoing expansion of our AtriClip portfolio across Asia is long-term strategy.
I'd like to take a moment to address new entrants into the appendage management market, as I understand this topic is top of mind for many of our shareholders. First and foremost, we believe it is validation of the market opportunity. When larger medtech companies invest in your core markets, it is a strong signal that the markets are robust and have a long runway for growth. AtriCure has always believed this area of cardiac surgery is incredibly compelling, and as a result, we have approached our business proactively. We have invested significant resources in continual product development to improve and enhance the features of the AtriClip platform, and the many devices are the most recent example of incredibly impactful product innovation that is meeting a clear market need. Continuous and robust innovation alone is not enough.
AtriCure has also funded landmark clinical trials like LeAAPS and BoxX-NoAF and proactively studied and accumulated outcomes on our AtriClip devices over the last decade, resulting in a clinical compendium that simply has no rival today or for the next decade. Finally, we have made physician education and clinical support the foundation of our business model, with large global field and professional education teams that are experts in AFib and surgical appendage management. We believe these three pillars of innovation, clinical science, and education will prove to be extremely difficult to replicate and are prepared to protect our leadership position in the cardiac surgery treatment of AFib and left atrial appendage management. To conclude, the Q2 of 2026 was another healthy quarter overall for our business.
We are well-positioned to deliver for the remainder of this year, our progress on strategic initiatives paves the way for market expansion and growth through the end of this decade and beyond. With that, I will turn it over to Angela Wirick, our Chief Financial Officer. Angela?
Thanks, Mike. Our Q2 2026 worldwide revenue of $153.6 million increased 12.8% on a reported basis and 12.4% on a constant currency basis when compared to the Q2 of 2025. On a sequential basis, worldwide revenue grew 8.7% from the Q1 to the Q2 of 2026. Q2 2026 U.S. revenue grew 13.6% to $125.6 million from the Q2 of 2025. Open ablation product sales were $40.9 million, up 12.1% over 2025, supported by ongoing utilization of our Encompass clamp. U.S. sales of appendage management products grew 14.4% year-over-year to $51.6 million, reflecting increasing adoption of our recently launched AtriClip FLEX-Mini and PRO-Mini devices. U.S. pain management sales reached $27.1 million, reflecting 27.8% growth year-over-year.
Growth in pain management was driven by strong adoption of the CryoSphere MAX probe, along with a small but increasing contribution from our latest product launch, CryoXT. Finally, we saw a decline in our minimally invasive ablation sales, which contributed $6 million in revenue for the quarter. International revenue was $28 million, up 9.6% on a reported basis and 7.1% on a constant currency basis as compared to the Q2 of 2025. European sales accounted for $17.2 million, up 6.7% year-over-year, and Asia Pacific and other international markets accounted for $10.8 million, up 14.7% year-over-year. Gross margin was 77.2% for the Q2, approximately 270 basis points higher than the Q2 of 2025. Our strong gross margin was once again primarily driven by favorable product and geographic mix along with manufacturing efficiencies.
Turning to operating expenses for the quarter, total operating expenses increased $1.3 million or 1.2% to $109 million in the Q2 of 2026, compared to $107.7 million in the Q2 of 2025. As a reminder, reported operating expenses in the prior year included a $5 million milestone payment under the PFA co-development agreement. Excluding that milestone payment, total operating expenses increased $6.3 million or 6.1% year-over-year, led by research and development expenses, which increased approximately 9%, reflecting enrollment in our BoxX-NoAF trial and continued advancement of projects across our product development pipeline. SG&A expenses increased 5.3%, demonstrating continued investment in growth initiatives while driving operating leverage across the organization. Our team drove a strong Q2 adjusted EBITDA result of $27.3 million compared to $15.4 million for the Q2 of 2025, a 78% increase year-over-year.
For the quarter, we recorded net income of $9 million compared to a net loss of $6.2 million in the Q2 of 2025. Earnings per share and adjusted earnings per share were both $0.18 in the Q2 of 2026 compared to a loss per share of $0.13 and an adjusted loss per share of $0.02 in the Q2 of 2025. We ended the Q2 with $167.8 million in cash and investments with approximately $22 million in cash generated during the quarter with net positive cash generation for the first half of 2026. Looking ahead, we are reiterating our expectations to achieve positive cash generation through the remainder of the year, further strengthening our balance sheet and enhancing our financial flexibility. Finally, turning to our outlook for 2026.
We now expect to achieve $602 million-$610 million in revenue for the year, reflecting growth of approximately 12.5%-14% over 2025. We expect growth to be led by pain management, appendage management, and open ablation franchises, and see ongoing pressure within MIS ablation and certain international markets. We anticipate typical revenue seasonality in the back half of the year, with third quarter revenue down 1%-2% sequentially from the Q2, followed by a rebound in the fourth quarter. Given our strong first half performance and expanding operating leverage, we are raising our outlook for adjusted EBITDA to approximately $85 million-$89 million for the full year 2026. This places our full-year adjusted EBITDA margin at approximately 14% using the midpoint of our guidance.
We are also reiterating our plan to achieve full-year net income and continue to expect that we will achieve additional milestones with our PFA platform development this year, triggering IPR&D charges in the back half of 2026. Finally, we expect full year earnings per share of approximately $0.05-$0.13 and adjusted earnings per share of approximately $0.24-$0.32. Before we conclude, I would like to thank our team around the world for their passion and focus on our mission. Your efforts are making a difference in the lives of tens of thousands of patients each quarter. In addition, with our collective discipline, we are demonstrating the increasing strength of our operating model. With this combination, I am confident in our ability to drive sustainable profitable growth with value creation. With that, I'll hand the call back to Mike for his closing remarks.
Thanks, Angie. As we look forward, we are focused on delivering on each of our commitments, all while advancing two groundbreaking trials that we believe will define the next decade at AtriCure. Our continued double-digit revenue growth, improving margins, and increasing profitability position us well ahead of our long-range plan and reflect the strength of our portfolio and our team worldwide. Many thanks to the entire AtriCure team for their execution and belief. Together, we have a bright future. With that, I'll turn it over to the operator for questions.
Thank you. Ladies and gentlemen, as a reminder to ask a question, please press star one one on your telephone, then wait for your name to be announced. To withdraw your question, please press star one one again. Please stand by while we compile the Q&A roster. Our first question comes from the line of Matthew O'Brien with Piper Sandler. Your line is open.
Good afternoon. Thanks so much for taking the questions. Mike, maybe for starters, just talking about the competitive launch on the Clip side of things. What is incorporated in the guide for maybe some trialing towards the end of the year here? Secondly, you've had a bigger competitor enter this market in the past, didn't do very well against you. Can you maybe compare and contrast a little bit what you're seeing from this new competitive product, what you know about it? What really stood up last time? Was it your next generation products versus that previous one, the clinical data? I'm sure it was a combination of those. Is there one or two things that you can kind of call out that'll help make people comfortable that you may not see meaningful share degradation or pricing compression as a result of this launch?
Sure. To answer your first question, it is incorporated into our guide. We do anticipate people trialing the product, et cetera, in the back half of the year. That has definitely been contemplated as we looked at our revenue guide for the rest of the year. First, yes on that front. In terms of, I tried to address it kind of in my comments a little bit, Matt, thanks for letting me do it again, which is I think that there's a couple things. One, I want to reiterate, we think that having big companies come into our space tells you that this is a very large multi-billion dollar market opportunity, and it validates the work that we've been doing. Now, here's the catch. We're way ahead of everybody else. If our competition's looking at this, we've seen products on both sides, obviously. Our products are superior.
They are smaller in profile. They're easier to put on. They provide much better visibility to the product. We've seen both of the products on that front. I am confident with the work that our engineering team has done, that ours makes the procedure incredibly easier, and we've also got a pipeline of new product innovations continuing to come out both later this year, early part of next year, and into the end of next year. We've talked about those before. We've got the V-Clip Mini coming out at the end of next year, and even a smaller version of our existing product coming out at the end of this year. That is just the beginning of, or continuation of a great innovation pipeline we have. One, innovation.
We have never stopped innovating and looking at how do we advance this product and listen to our customers. Number two. As I mentioned, innovation alone is not going to do it. You need to prove that your technology actually does do the closure necessary and reduce strokes eventually. It's why we committed ourselves and were confident in our trial, and it is 6,500 patient trial for LeAAPS. We did that also into the box and included the AtriClip into that trial. Now you're going to have almost 10,000 patients in randomized, controlled, very strictly reviewed trials to demonstrate that this product works all the time. What we've seen is that the safety profile on it is exceptional, that we've seen out in the field as well. On top of the safety profile, we believe that we're going to also see tremendous clinical benefit as well.
We have on top of that, I talked about the whole clinical compendium. We have over 100 papers written and produced on this peer-reviewed with almost over 20,000 patients, demonstrating how effective our technology is. I believe that that makes a huge differentiation. Not only do we have the best product from what I've seen, in addition to that, we've got clinical evidence that we've been investing in for many years. Finally, as I mentioned also, we have a team in place that understands this market. When you do this, you do an ablation with the AtriClip. You do them in combination together because they work together around the calamities of AFib. We believe that is a big advantage. Our team knows it.
We're focused on it, not just here in the U.S., but all over the world. We will continue to invest in our field team, our education team. We've got over 500 people around the globe in the field in a combination of professional education and field level roles that are all incredibly smart and capable and understand the AFib space.
I appreciate that. Then the pain management business here, this is the biggest sequential improvement we've seen. I'm just curious, obviously, thoracotomy's been a big growth driver for you, and it seems like sternotomy is now coming along maybe a little bit on the limb amputation side of things. Yeah, I think I asked you this at our conference last year, but this business now, it seems like it's accelerating. Are we getting sternotomy as the big driver right now, and there's a long way to go there? Can this franchise eventually be your second biggest franchise, just given the trajectory that we're seeing right now? Thank you.
I think what you're seeing in there is a couple of things, and you hit on pretty much all of it. On the thoracotomy side, we're still under-penetrated, and we are just starting to get into top cancer centers around the country. I mentioned that there were two. It's actually three of the top five now have done internal testing on it, demonstrated that this product actually works in their patient population, in their surgeons' hands, and we're now getting purchases from those hospitals today in some of the largest cancer centers. That's going to set the tone because they're going to do additional research, write papers on it, and get the word out, and that's just in thoracotomy that is still not even 25% penetrated in that overall market. You combine that with, like you mentioned, the two new areas and TAM expanding areas.
Sternotomy is beginning to kick off. CryoSphere MAX made a big difference there to reduce the time in that surgery. They do see enough benefit to spend that bit of time on it. It's made it so much easier for the cardiac surgeons to use it, and we're in almost 100 accounts already doing or having some testing out of the sternotomy side of things. On top of that, obviously, you mentioned the expansion into XT. The beginning part of this year, we saw very little revenue in XT. We do expect that to accelerate its own growth.
Obviously, on small numbers, so it won't have a massive impact in the back half of the year, but we're definitely seeing great results, as I mentioned, and we're starting to see it already just 9 months into it being presented at conferences like the vascular conference that I mentioned in Boston, just a month ago.
Thank you. Please stand by for our next question. Our next question comes from the line of Marie Thibault with BTIG. Your line is open.
Hi, good afternoon. Thanks so much for taking the question. I wanted to start here and kind of circle the profitability we saw from you this quarter. Really impressive to see both that adjusted EBITDA number and the net income metric as well. I just want to understand some of the sustainability of it. Obviously very strong gross margins, really well controlled OpEx this quarter. Should we expect that to be sustained here going forward? We're well ahead of, I think, your long-range plan vision that you set out for us a couple of years ago. I'd love if you have any updates on that vision, where you think that adjusted EBITDA metric could end up going over the next couple of years. Thanks.
Thanks, Marie. You called a couple of the key drivers here on the gross margin front. Great start to the year. Definitely seeing the read-through on the product mix front, largely contributing from the new product launches in the U.S., improving the overall gross margin. We face a headwind in the back half of the year with our new manufacturing facility coming online. It's expanding current manufacturing capability and capacity. It's a small headwind here when you think over the context of the improvements that we've made to gross margin up from 75% next year. There is some pull-through that we'll see from continued benefit of gross margin in the second half of the year. In the OpEx side, I'd say we are seeing some leverage within R&D.
I mean, our goal is to continue to fund the R&D engine between product development and the clinical trials. The more pronounced is coming from SG&A. Intent is to fuel our growth drivers here, but we're seeing the benefits of size and scale at AtriCure in the Q2. You've seen it in the Q1 as well as last year. Those are the areas I think that will continue to be the performance driving the improvements to the bottom line going forward. Relative to the longer-term outlook, you're right, we are almost two years ahead of plan on the bottom line. I think what you saw at our Investor Day was an incredibly compelling story that said continued double-digit top-line growth, strong performance.
Our focus is on funding growth opportunities, which we've been able to do while also improving profitability. I think what you saw at the end mark, the 2030 vision there said that we think that we can be competitive with some of the best margin stories that are out there.
Okay. That's great, Angie. Thank you. Could we get an update on sort of what's been happening in the U.K. market? I know that there was, I think last quarter, the APAC little light. Any updates on kind of what's going on OUS would be very helpful for us as well. Thanks again.
I'll tackle the Asia-Pacific markets first. Like we said on the Q1 call, expected that to be transitory, and you saw that in the Q2 results. Within Europe, we saw softness in a couple of our key markets there, U.K. and Germany specifically. The U.K., again, continues to be sequentially flat. Our guidance relative to the year anticipated that we'd be under pressure given the kind of reimbursement there. We did get some more positive news relative to our Encompass clamp recently. We're hopeful that that makes up for some of the impact of our CryoSphere probe having lost reimbursement in that market. I think the other areas, the strong markets, end user markets are very strong. Have confidence in the ability of our international markets to rebound and are just focusing on execution there.
That's top of mind when we think about the outcomes and the outlook for the year relative to our guidance and feel like we've incorporated that pressure into the back half of the year.
Really helpful. Thanks so much for taking the questions.
Thank you. Our next question comes from the line of John Young with Canaccord. Your line is open.
Hi, Mike and Angie. Thank you for taking the question, congratulations on the quarter. To go back to the pain management franchise and the strong growth we saw in Q2, was there any stocking revenue recognized in the quarter? Perhaps could you also just share what percentage of revenue is CryoSphere MAX now? Lastly, any update on plans to try to gain additional reimbursement for these products in the U.S.? Do you think that given the uptake you're seeing so far, you may not need it? Thanks.
John, congratulations. You jammed three questions into one, we'll try and hit on each one of those. Relative to stocking, no. This is strong growth. We're seeing an increase in number of accounts. It was a strong account growth quarter for us in our pain management franchise. CryoSphere MAX is now just about 75% of the U.S. pain management revenue. Seeing continued strong adoption there.
John, what was your third question?
Sorry. It's on reimbursement. Just if you still are pursuing in the U.S. additional reimbursement for the product, or do you think you still need to have that, but just given the growth that you're seeing so far?
Well, fortunately, what we're seeing is that the results themselves speak for themselves. They see the immediate reaction afterwards. These patients are recovering more quickly. They're getting home faster. They're taking fewer drugs. Even though it costs more, that is definitely helping adoption just because the therapy itself works so well. That being said, we're definitely still considering and still trying to pursue reimbursement. The key there, though, is we need data. We've supported many different trials. Not IDE level trials, but a lot of investigator type-led trials, both in the U.S. and in Europe, to demonstrate the value of it, both from a patient standpoint, but also from an economic standpoint to the system, because that's what you need for reimbursement around the world and in the U.S. We have a lot of those studies going on right now.
Much like cardiac surgery, this is going to take many years to kind of develop that, get it peer reviewed, get it published. From there, eventually get some sort of reimbursement specifically for it. At this point, right now it is not reimbursed in the U.S. It's because just of the great results that the surgeons see in their patients.
Awesome. Thanks. I'll try to ask a follow-up. I'll only ask one question here. Just an update on the PFA Encompass clamp timeline. Do you still expect to begin trial in that next year? Thanks again.
We do, yes. We've done our first in human in Australia. Now we're moving to doing more human work in Europe, which we'll be starting that very shortly. Then we'll be submitting for IDE either later this year or early next year to start a trial sometime by the end of next year.
Thanks.
Thank you. Our next question comes from the line of Lily Lozada with JPMorgan. Your line is open.
Great. Thanks for taking the question. One on the general market and procedure environment. We've heard different commentary from some of your peers around the health of procedure volumes in the Q2. I'm curious what you've been seeing on your end and if there's been any disruption from declining ACA and Medicaid enrollments.
We have not seen that in our end markets, if you think about our end markets, Lily, many of them are not elected procedures. They're usually procedures that have to get done, and if you delay them, then the patient's going to be worse off. Cardiac surgery and lung cancer, which are probably the two primary areas that you see it, or an amputation when you've got a sickness there. These are all areas that you can't really wait. Those surgery volumes, they don't necessarily grow at 50% per year, but they grow consistently. Obviously with the patient population getting much older and the baby boomers hitting on that front, we are not seeing that in our very specific market opportunity that is in front of us.
Got it. That is helpful. Then a follow-up on the profitability and gross margin piece. I know some of that is a function of the geographic mix with the international business a bit softer the last few quarters, but I am hoping you could parse out how much of that is one-time mix benefit versus underlying improvement. Once the geographic mix normalizes, do you think we go back to the 75% range that you were hovering around for some time, or do you think you have broken out of that range on a more sustainable basis? Thanks so much.
Lily, I think the good news here is I think this is kind of a breakout moment for us because the strength is largely coming from the product mix, the newer product introductions and the fact that they continue to grow as a percentage of each category revenue, specifically our CryoSphere MAX, and then the Mini Clips. We have also done some work relative to our Encompass clamp. I think we had talked about this a year or two ago, trying to streamline the manufacturing and lean out costs in that particular product, and you are seeing the benefit there. The majority of the improvement, maybe to put a finer point on this, the majority of the improvement is coming from product mix that we think is sustainable.
Great. Thank you.
Thank you. Please stand by for our next question. Our next question comes from the line of Mike Matson with Needham & Company. Your line is open.
Thanks. Just starting with the BoxX-NoAF trial, it's great to hear that it's running ahead of expectations in terms of the timing. I guess once the data's available, what's sort of the next step? I imagine you'll be submitting to the FDA. Can you remind us whether it's 510(k) or PMA and what sort of timing you'd expect in terms of getting labeling for post-op AFib?
Good questions, Mike. The timing of it is there are two endpoints, as a reminder, in this trial. There are two endpoints on it, and we can win on both. The first one is the post-op AFib, which we'll be able to, once the final patient's enrolled, 30 days after that, we'll have that final endpoint on it. We have to obviously adjudicate the data and go through all of that. Very shortly thereafter, we would imagine doing some sort of late breaker at one of the major society meetings next year. Likely either STS or most likely it's going to be AATS in May.
From that, we would hope that there would obviously be a lot of fanfare relative to the data, we would then submit to the FDA probably simultaneously, that we can then get an approval after that. This is a PMA product, though, and that actually is a super important distinction because that is very unique in terms of the labeling aspect of it, the fact that it was a randomized data done on this trial. That is going to be a very distinct differentiator for us for many years to come. As I mentioned, nobody else is doing or even attempting to do trials or a trial like this for this patient population, which is enormous and really expands the TAM quite dramatically. That's kind of the timeline.
Likely after you submit to the FDA, it's probably about a year before you get an approval on that, but the data will already be out there mid-year next year.
Okay. All right. Just one financial one, I guess probably for Angie. Really strong cash generation in the quarter. Any kind of one-offs? Was working capital really down for some reason or something, or?
No. I would say nothing unusual in the quarter.
Okay, great. Thank you.
Our next question comes from the line of Danny Stauder with Citizens. Your line is open.
Great. Thanks. Just my first one, just following up on some of the CryoSphere MAX questions. Could you give us any color on how utilization at existing accounts has evolved? You noted you're starting to see some of these accounts going deeper and driving more penetration. Just at this point, what does a typical active user look like in terms of volume and revenue per month or quarter, and where do you see this peaking? Thank you.
Yeah. I think the trend that we tend to see in our pain management customers is starting with one surgeon, kind of convincing them, I'd say, showing them the value that pain management brings to their procedures, and they start to expand, even beyond just the initial procedure that they thought. I think our team in the field spends a lot of time on it doesn't just have to be this profile of a patient. Think about each one of your procedures where this can matter. It tends to get a broader thoracic pull. The team would look at that specific account and say, "Look, what are the other surgeons in your account doing?" What are your surgeon peers doing, and start to broaden use there. I'd say that's what kind of the demographic looks like overall.
We ended the quarter with our pain management business having about a little over 700 active accounts. I think it would tell you with the growth in the accounts, given the metrics that we've said before, that we're adding accounts, but that we're also becoming more productive each quarter with our existing account base.
Great. Appreciate that. Just one follow-up. Just could you remind us on your early goals or expectations for cryoXT? Do you have a specific number of target accounts or surgeons in mind for this year? Could you remind us of any plans to hire dedicated sales reps and the progress there, how many have you done, if you have, any goals for end of this year or into next year? Thank you.
Yeah. As a refresher on our launch plans, we wanted each of our dedicated pain management reps, so existing field reps, to target an existing account where pain management, there was at least a surgeon who was already doing incorporating cryoneuro block into their procedures, and then extend that to the surgeon who did predominantly the amputations. Typically, this is a vascular surgeon. I'd say in terms of our total rep count here, at least half of them have been successful in the first six months of the year, which we think is great progress towards the launch at this point in time. To your second question, we have hired dedicated extremity reps really focused within an area of our business. Within each of the areas of our pain management business, collecting the experiences amongst the reps and helping start to supercharge the results.
I'd say one of the earliest roles that we filled in this case, it's proving that this model works incredibly well. We are expanding those field positions as we enter into the second half of the year.
Great. Thank you for the questions.
Thank you. Our next question comes from the line of Keith Hinton with Freedom Capital Markets. Your line is open.
Great. Thank you. Two questions from me, starting off with BoxX-NoAF. Can you just remind us how you guys view the bar for success here on the 30-day endpoint, both in terms of how the trial is powered, and if it's different, what you would consider to be clinically meaningful?
Yeah. The differential is a 10% absolute differential between the two different arms on the trial. We anticipate that that is going to be clinically meaningful on the trial. If you look up the data on it and you look at the different trials that have been done in the past, they showed anywhere between a much larger differential than that. I'd say the two primary ones and most recent, Dr. Willekes has done a trial that he showed, where he randomized 50/50 in terms of the two different arms. From that, he saw 55% post-op AFib in the arm that was not treated, and he saw less than 10% in the other arm. Then we also have other data that is similar to that shows a dramatic decrease on that front.
We don't need to be that high to actually, quite frankly, win the trial on that initial piece of that. Interestingly enough, the trial's powered to 1,000 patients, and the trial are actually powered more for the secondary endpoint, which is the three-year follow-up and the reduction of AFib clinically on that front, to get some sort of differential between that. The powering is like almost, you're not overpowered, but you're very well-powered on the initial post-op AFib one because you can see the huge differentials in some of the trials that we looked at.
That's great. Thanks. Next question is on SG&A. Can you just provide a little bit of color on the current sales force expansion and the expectations for overall SG&A spend this year? Then kind of looking out a couple of years without asking for specific guidance, just how we should think about further sales force expansion and SG&A growth, assuming that BoxX-NoAF is positive on that 30-day endpoint and that you would be hopefully launching that presumably in kind of the front half of 2028.
Yes. From an SG&A standpoint, from a modeling perspective, I would guide you to mid to upper single digits, that kind of a range of growth in expense year-over-year. Growing well below kind of top line growth in the SG&A category. From a field front, Mike talked about over 500 commercial as well as professional education folks in the U.S. at this point in time. About 350 of that is current field size. Majority of those individuals are in our cardiac surgery sales team. We also have a very robust, about 100 folks in our cryoneurolysis team. In terms of expansion in cryoneurolysis, we continue to add on roles. We're seeing great and incredible growth, and we're continuing to expand roles both from a rep and a clinical front, making sure that we've got good case coverage.
On our cardiac surgery side, I would say focused a little bit more at this point in time on the clinical roles, but as we anticipate the BoxX-NoAF launch, we're taking a close look at territory sizes and looking at the field force that we've got in place. The great thing about BoxX-NoAF is we are talking about existing surgeon customers, existing accounts using existing products. We've got a ready-made field force, but we want to make sure that we are in a great position to be able to attack this opportunity, and we'll look at, in the future, expanding size of the sales team there.
I don't think it looks like the pace of growth in SG&A that you may have seen out of AtriCure if you go back four or five years preparing for other launches here, I think given just the sheer size of the sales team we have today. We are looking to continue to fund kind of growth opportunities, and BoxX-NoAF is an incredible one for us.
Excellent. Thank you so much.
Thank you. Our next question, please stand by. Our next question comes from the line of Suraj Kalia with Oppenheimer. Your line is open.
Hi, this is Seamus on for Suraj. Thank you for taking our questions. I know you touched on stocking for pain management, I guess how should we think about utilization, like actual procedures versus inventory dynamics for some of the other segments? Within surgical LAA, are you seeing any slowdown similar to endovascular?
The stocking comment, Seamus, I think applies pretty much across our business. Of course, with distributors, inherently their ordering patterns are a bit more of stocking, there wasn't anything unusual that we saw in the Q2 from that front. I'd say across each of our categories that they're not a stocking issue there. From an appendage management side, aren't seeing a slowdown in utilization there.
Got it. Appreciate it. Just looking at pain management, can you guys help us kind of understand what percentage of procedures are related to, I guess, cardiac ablation versus other kind of areas where you're getting it? Just any respective growth rates you can kind of see where you may be seeing kind of more growth in one bucket versus another. Thank you again.
Yeah. Again, the majority of our pain management revenue is attached to thoracic procedures. We are seeing a growing percentage. I wouldn't say that we're in double digits in terms of we haven't reached 10% of the revenue being in sternotomy or in amputations at this point in time, but those are both areas that are showing growth. It's off of large numbers, but the majority of the procedures in pain management really are still in a thoracic setting.
Thank you. Ladies and gentlemen, I'm showing no further questions in the queue. I would now like to turn the call back over to Michael Carrel for closing remarks.
Great. Again, thank you everybody for joining us today. We look forward to having a great Q3 and talking to you again in October. Have a wonderful evening. Bye now.
This concludes today's conference call. Thank you for your participation. You may now disconnect.
Investor releaseQuarter not tagged2026-07-02AtriCure to Announce Second Quarter 2026 Financial Results
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AtriCure to Announce Second Quarter 2026 Financial Results
MASON, Ohio, July 02, 2026--(BUSINESS WIRE)--AtriCure, Inc. (Nasdaq: ATRC), a leading innovator in surgical treatments and therapies for atrial fibrillation (Afib), left atrial appendage (LAA) management, and post-operative pain management, today announced that it will release its second quarter 2026 financial results on Thursday, July 23, 2026. AtriCure will host an audio webcast at 4:30 p.m. Eastern Time on Thursday, July 23, 2026, to discuss its second quarter financial results. Those interested in listening to the conference call should register online using this link. Participants are encouraged to register more than 15 minutes before the start of the call. A live and replay version of the audio webcast will be available at https://ir.atricure.com/events-and-presentations/events. About AtriCure AtriCure, Inc. provides innovative technologies for the treatment of Afib and related conditions. Afib affects more than 59 million people worldwide. Surgeons around the globe use AtriCure technologies for the treatment of Afib, reduction of Afib related complications and post-operative pain management. AtriCure’s Isolator® Synergy™ Ablation System is the first medical device to receive FDA approval for the treatment of persistent Afib. AtriCure’s AtriClip® Left Atrial Appendage Exclusion System products are the most widely sold LAA management devices worldwide. AtriCure’s Hybrid AF™ Therapy is a minimally invasive procedure that provides a lasting solution for long-standing persistent Afib patients. AtriCure’s cryoICE cryoSPHERE® and cryoXT® probes are cleared for temporary ablation of peripheral nerves to block pain, providing pain relief in cardiac, thoracic and amputation procedures. For more information, visit AtriCure.com or follow us on X @AtriCure. View source version on businesswire.com: https://www.businesswire.com/news/home/20260702970337/en/ Contacts Angie WirickAtriCure, Inc.Chief Financial Officer(513) [email protected] Marissa BychGilmartin GroupInvestor [email protected]
Investor releaseQuarter not tagged2026-05-06AtriCure, Inc. Q1 2026 Earnings Call Summary
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AtriCure, Inc. Q1 2026 Earnings Call Summary
Worldwide revenue growth of 14% was fueled by an acceleration in the U.S. business, specifically driven by the AtriClip FLEX-Mini and cryoSPHERE MAX probe. The BoxX-NoAF clinical trial is tracking nearly one year ahead of schedule, with approximately 300 patients enrolled since Q4 2025, reflecting high surgeon engagement regarding postoperative Afib. Pain management remains the fastest-growing portfolio segment at 28% growth, with the cryoSPHERE MAX probe accounting for roughly 70% of these sales due to significant surgical time savings. Open ablation growth of 15% is being sustained by the EnCompass clamp, which continues to gain traction in both new and existing accounts as it approaches the four-year anniversary of its U.S. launch. Management attributes market share gains in appendage management to the small form factor and superior performance of the FLEX-Mini device against competitive offerings. The Society of Thoracic Surgeons' inclusion of concomitant Afib treatment as a quality metric is expected to serve as a durable tailwind for surgical ablation adoption starting in 2027. Full-year 2026 revenue guidance of $600 million to $610 million assumes continued strength in pain management, appendage management, and open ablation, partially offset by persistent headwinds in MIS ablation. Gross margins are expected to moderate in the second half of 2026 as expanded manufacturing facilities come online, increasing the manufacturing cost burden. Management expects to complete enrollment for the BoxX-NoAF trial by the end of 2026, leading to incremental R&D investment over the next three quarters. The company anticipates positive cash flow for the remainder of the year, with full-year cash generation expected to be moderately higher than in 2025. Launch of AtriClip FLEX-Mini and PRO-Mini in Europe is slated for later this year following recent CE Mark approval under EU MDR. International growth was tempered by ongoing uncertainty in the U.K. market and lumpy distributor ordering patterns in Asia. The MIS ablation franchise continues to face volume pressure as electrophysiologists trial multiple PFA catheters before referring patients for hybrid therapy. R&D spending will see a higher year-over-year increase in the second half of 2026 because 2025 comparisons only included LeAAPS enrollment costs for the first half of the year. Our analysts just identified a st…Read full documentShow less
Worldwide revenue growth of 14% was fueled by an acceleration in the U.S. business, specifically driven by the AtriClip FLEX-Mini and cryoSPHERE MAX probe. The BoxX-NoAF clinical trial is tracking nearly one year ahead of schedule, with approximately 300 patients enrolled since Q4 2025, reflecting high surgeon engagement regarding postoperative Afib. Pain management remains the fastest-growing portfolio segment at 28% growth, with the cryoSPHERE MAX probe accounting for roughly 70% of these sales due to significant surgical time savings. Open ablation growth of 15% is being sustained by the EnCompass clamp, which continues to gain traction in both new and existing accounts as it approaches the four-year anniversary of its U.S. launch. Management attributes market share gains in appendage management to the small form factor and superior performance of the FLEX-Mini device against competitive offerings. The Society of Thoracic Surgeons' inclusion of concomitant Afib treatment as a quality metric is expected to serve as a durable tailwind for surgical ablation adoption starting in 2027. Full-year 2026 revenue guidance of $600 million to $610 million assumes continued strength in pain management, appendage management, and open ablation, partially offset by persistent headwinds in MIS ablation. Gross margins are expected to moderate in the second half of 2026 as expanded manufacturing facilities come online, increasing the manufacturing cost burden. Management expects to complete enrollment for the BoxX-NoAF trial by the end of 2026, leading to incremental R&D investment over the next three quarters. The company anticipates positive cash flow for the remainder of the year, with full-year cash generation expected to be moderately higher than in 2025. Launch of AtriClip FLEX-Mini and PRO-Mini in Europe is slated for later this year following recent CE Mark approval under EU MDR. International growth was tempered by ongoing uncertainty in the U.K. market and lumpy distributor ordering patterns in Asia. The MIS ablation franchise continues to face volume pressure as electrophysiologists trial multiple PFA catheters before referring patients for hybrid therapy. R&D spending will see a higher year-over-year increase in the second half of 2026 because 2025 comparisons only included LeAAPS enrollment costs for the first half of the year. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management has completed first-in-human procedures in Australia and is expanding to an additional 30 to 40 patients in Europe. The company expects to submit an IDE to the FDA later this year, with clinical trial enrollment likely beginning in 2027. Management noted that while Medtronic has entered the market, AtriCure has seen market share recovery following the peak of competitive trialing last fall. The strategy to defend market leadership relies on the FLEX-Mini's innovation and unique clinical evidence from the LeAAPS and BoxX trials that competitors lack. With enrollment potentially finishing by year-end 2026, management targets a late-breaker data presentation at a surgical congress in early 2027. The AATS meeting is cited as a likely venue for initial results, given the 30-day follow-up and data adjudication requirements. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.

