NASDAQ$ATRC
Atricure Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
AtriCure reported fourth quarter and full year financial results, showcasing revenue growth and progress towards sustained profitability.
AtriCure reported a 21.0% increase in worldwide revenue for Q4 2023, reaching $106.5 million. The company experienced growth in both U.S. and International markets. However, the loss from operations increased to $8.7 million, and the adjusted EBITDA was $4.8 million, slightly lower than the previous year.
- Worldwide revenue increased by 21.0% year over year, reaching $106.5 million.
- U.S. revenue grew by 20.1%, driven by sales of EPi-Sense® Systems, AtriClip® Flex⋅V® devices, ENCOMPASS® clamp and cryoSPHERE® probe.
- International revenue increased by 25.8%, reflecting growth across all franchises and major geographic regions.
- Loss from operations was $8.7 million, driven by investments in clinical trials and product development initiatives.
Headline financials
Revenue & EPS history
Atricure · Revenue · Quarterly
$107M
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
AtriCure projects full year 2024 revenue to be approximately $459 million to $466 million, reflecting growth of approximately 15% to 17% over full year 2023. Full year 2024 adjusted EBITDA is expected to be approximately $26 million to $29 million, with improvements annually thereafter. Full year 2024 adjusted EBITDA represents an approximately 34% to 49% increase over full year 2023. Full year 2024 adjusted loss per share is expected to be in the range of $0.74 to $0.82.
Tailwinds
- Projected revenue growth of 15% to 17% for full year 2024.
- Expected adjusted EBITDA improvement of 34% to 49% for full year 2024.
- Continued focus on innovation and clinical science.
- Establishment of new standards of care for patients globally.
- Strong momentum throughout the business.
Headwinds
- Adjusted loss per share is expected to be in the range of $0.74 to $0.82 for full year 2024.
- Forward-looking statements are subject to uncertainties and actual results could differ materially.
- The company assumes no obligation to update any forward-looking statements.
- Continued investments in clinical trials and product development initiatives.
- Reliance on estimates and forecasts for projected financial information.
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 Q4 2023
+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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