NASDAQ$ATRC
Atricure Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Reported strong financial results driven by commercial execution and product portfolio strength.
AtriCure reported a strong third quarter with revenue of $83.2 million, representing an 18.1% increase year-over-year. U.S. revenue grew by 21.3%, driven by key product lines including cryoSPHERE®, AtriClip® Flex·V®, and ENCOMPASS®. The company experienced a loss from operations of $10.7 million, compared to income of $98.7 million in Q3 2021, which included a significant credit from the change in fair value of contingent consideration.
- Revenue for the third quarter 2022 was $83.2 million, an 18.1% increase year-over-year.
- U.S. revenue increased 21.3% to $69.8 million, driven by cryoSPHERE®, AtriClip® Flex·V®, and ENCOMPASS® sales.
- International revenue increased 4.2% to $13.4 million, with growth primarily in Australia and Japan.
- Loss from operations for the third quarter 2022 was $10.7 million, compared to income of $98.7 million for the third quarter 2021, which included a $189.9 million credit.
Headline financials
Revenue & EPS history
Atricure · Revenue · Quarterly
$83.2M
Revenue by segment
Atricure · $93.5M total across 8 segments · Q1 2023
- Appendage Management (U.S.)$32.3M—34.6%
- Open Ablation (U.S.)$25.1M—26.9%
- Pain Management (U.S.)$11.1M—11.8%
- Minimally Invasive Ablation (U.S.)$9.64M—10.3%
- Open Ablation (International)$7.29M—7.8%
- Appendage Management (International)$5.92M—6.3%
- Minimally Invasive Ablation (International)$1.87M—2.0%
- Pain Management (International)$228K—0.2%
Forward guidance
Full year 2022 revenue is projected to be approximately $328 million to $333 million, reflecting growth of approximately 20% to 21% over full year 2021. Management now expects full year 2022 adjusted EBITDA to be a loss of approximately $4 million, and full year 2022 adjusted loss per share of approximately $1.10 to $1.12.
Tailwinds
- Full year 2022 revenue is projected to be approximately $328 million to $333 million.
- Revenue growth of approximately 20% to 21% over full year 2021 is expected.
Headwinds
- Full year 2022 adjusted EBITDA is expected to be a loss of approximately $4 million.
- Full year 2022 adjusted loss per share is projected to be approximately $1.10 to $1.12.
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 Q3 2022
+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
| Quarter | Report date | Reaction (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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