NASDAQ$ATRC

Atricure Inc · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Reported strong financial results driven by outperformance across the business and progress toward making platforms the standard of care.

AtriCure reported a significant increase in revenue for Q2 2021, driven by strong underlying demand and progress in establishing its platforms as standard of care. The company saw revenue growth in both the U.S. and international markets, reflecting the receding impact of the COVID-19 pandemic and increased demand.

  • Revenue for the second quarter of 2021 was $71.4 million, an increase of 74.8% over the second quarter of 2020.
  • U.S. revenue was $60.1 million, an increase of 78.4% compared to the second quarter of 2020.
  • International revenue increased 57.9% to $11.3 million.
  • The company is updating revenue guidance for full year 2021 to a range of $270 to $275 million.

Headline financials

Total Revenue

$71.4M

Previous: $40.8M+74.8%
EPS (adj)

-$0.30

Previous: -$0.38+21.1%
Capital Expenditures

-$5.54M

Previous: -$2.94M-88.1%
Free Cash Flow

-$21.8M

Previous: -$11.2M-94.9%
Net Income

-$16.3M

Previous: -$8.24M-97.3%
Operating Income

-$15.1M

Previous: -$7.29M-107.0%
Gross Profit

$54.1M

Previous: $27.7M+95.6%
Cash & Equivalents

$67.6M

Previous: $88.5M-23.6%
Total Assets

$701M

Previous: $704M-0.4%
Stock-Based Comp

$7.14M

No prior period

Revenue & EPS history

Atricure · Revenue · Quarterly

$71.4M

Q2 2021+74.8%vs Q2 2020
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Revenue by segment

Atricure · $93.5M total across 8 segments · Q1 2023

  • Appendage Management (U.S.)
    $32.3M
  • Open Ablation (U.S.)
    $25.1M
  • Pain Management (U.S.)
    $11.1M
  • Minimally Invasive Ablation (U.S.)
    $9.64M
  • Open Ablation (International)
    $7.29M
  • Appendage Management (International)
    $5.92M
  • Minimally Invasive Ablation (International)
    $1.87M
  • Pain Management (International)
    $228K

Forward guidance

Management is updating revenue guidance for full year 2021 to a range of $270 to $275 million and updating guidance for an adjusted loss per share of approximately $1.20.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2021

Historical avgQ2 2021

+0.7%

Avg return

Earnings day

-0.5%

Avg return

5 days after

-0.3%

Avg return

30 days after

48%

31 / 64 earnings

Positive

+21.1%

Q3 2024

Best reaction

-13.7%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-4.0%-10.5%-7.9%
Q4 2025-2.3%-3.6%-11.5%
Q3 2025-3.7%-7.6%+1.9%
Q1 2025-13.7%-16.1%-0.2%
Q4 2024-6.5%-9.8%-21.4%
Q3 2024+21.1%+16.6%+25.8%
Q2 2024-1.8%+0.4%+17.6%
Q1 2024-7.9%-8.4%-6.6%
Q4 2023+0.6%+1.4%-1.2%
Q3 2023+5.6%+9.3%+5.6%
Q2 2023+8.2%+3.8%-14.6%
Q1 2023+7.1%+7.1%+1.5%
Q4 2022+5.3%-1.3%-5.9%
Q3 2022-4.2%-5.9%+9.1%
Q2 2022+1.1%+4.3%-11.9%
Q1 2022-2.6%-17.8%-21.4%
Q4 2021+5.8%-3.8%+2.2%
Q3 2021+10.0%+9.2%-16.0%
Q2 2021-2.5%-5.4%-8.6%
Q1 2021+5.8%+16.8%+11.5%
Q4 2020-4.3%+0.1%-4.3%
Q3 2020+0.2%+6.8%+25.8%
Q2 2020-7.2%-10.7%-8.8%
Q1 2020+10.0%+4.7%+22.0%
Q4 2019-3.8%-10.1%-37.9%
Q3 2019-2.8%+4.4%+8.7%
Q2 2019+1.3%-0.3%-13.9%
Q1 2019+4.8%+7.4%+5.5%
Q4 2018-5.6%-8.4%-17.8%
Q3 2018-1.4%+0.7%+5.3%
Q2 2018+11.2%+7.2%+20.6%
Q1 2018+9.5%+7.8%+18.2%
Q4 2017+5.5%+1.9%+11.2%
Q3 2017-8.7%-12.3%-13.6%
Q2 2017+3.0%-0.4%-7.8%
Q1 2017+9.4%+5.5%+2.0%
Q4 2016+4.9%-5.5%+1.1%
Q3 2016+7.3%+9.0%+17.5%
Q2 2016-10.7%-4.2%+4.8%
Q1 2016-10.4%
Q4 2015-5.5%
Q3 2015-0.7%
Q2 2015+14.5%
Q1 2015+7.6%
Q4 2014-4.4%
Q3 2014+2.8%
Q2 2014-4.4%
Q1 2014-2.3%
Q4 2013-0.9%
Q3 2013+1.1%
Q2 2013+0.9%
Q1 2013+9.1%
Q4 2012+5.6%
Q3 2012+20.3%
Q2 2012-6.7%
Q1 2012-5.1%
Q4 2011-4.7%
Q3 2011-5.0%
Q2 2011-13.2%
Q1 2011+2.6%
Q4 2010+2.6%
Q3 2010-0.6%
Q2 2010-0.4%
Q1 2010-1.5%

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