A Business at a Glance
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AtriCure, Inc.
ATRC
$1.7B
Mkt Cap
$35.04
+6.18%
AtriCure, Inc. (ATRC) has a 5-year average return on invested capital (ROIC) of -1.7%. This is below average and may indicate limited pricing power.
AtriCure, Inc. (ATRC) has a market capitalization of $1.8B. It is classified as a small-cap stock.
AtriCure, Inc. (ATRC) does not currently pay a regular dividend.
AtriCure, Inc. (ATRC) operates in the Surgical & Medical Instruments & Apparatus industry, within the Healthcare sector.
AtriCure, Inc. (ATRC) reported annual revenue of $535 million in its most recent fiscal year, based on SEC EDGAR filings.
AtriCure, Inc. (ATRC) has a net profit margin of -2.1%. The company is currently unprofitable.
AtriCure, Inc. (ATRC) generated $48 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
We are a leading innovator in surgical treatments and therapies for atrial fibrillation (Afib or AF), left atrial appendage (LAA) management and post-operative pain management. Afib is an irregular heartbeat, or arrhythmia, which affects over 59 million people worldwide and is a growing epidemic. It is the most common cardiac arrhythmia encountered in clinical practice and results in high utilization of healthcare services and significant cost burden. Patients often progress from being in Afib intermittently (paroxysmal) to being in Afib continuously (non-paroxysmal). The continuous Afib patient population includes early persistent Afib, which lasts seven days to six months, persistent Afib, which lasts six months to one year, and long-standing persistent Afib, which lasts longer than one year. It is estimated that over four million people in the United States currently suffer from long-standing persistent Afib.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 552M | 535M | 465M | 399M | 330M | 274M |
| Net Income | -4.6M | -11M | -45M | -30M | -46M | 50M |
| EPS | $-0.09 | $-0.24 | $-0.95 | $-0.66 | $-1.02 | $1.09 |
| Free Cash Flow | 54M | 48M | 745K | -7.5M | -39M | -24M |
| ROIC | -0.6% | -2.1% | -8.5% | -5.9% | -8.8% | 16.7% |
| Gross Margin | 75.6% | 75.0% | 74.7% | 75.2% | 74.4% | 75.0% |
| Debt/Equity | 0.13 | 0.14 | 0.15 | 0.15 | 0.15 | 0.14 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -3.0M | -9.4M | -40M | -27M | -43M | 55M |
| Operating Margin | -0.5% | -1.8% | -8.6% | -6.7% | -12.9% | 20.1% |
| ROE | -0.9% | -2.4% | -9.6% | -6.6% | -9.9% | 11.2% |
| Shares Outstanding | 51M | 48M | 47M | 46M | 46M | 46M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 107M | 130M | 155M | 175M | 202M | 231M | 207M | 274M | 330M | 399M | 465M | 535M | 552M |
| Gross Margin | 70.5% | 71.6% | 71.6% | 72.2% | 73.0% | 73.8% | 72.3% | 75.0% | 74.4% | 75.2% | 74.7% | 75.0% | 75.6% |
| R&D | 19M | 26M | 36M | 34M | 35M | 41M | 43M | 49M | 57M | 74M | 96M | 99M | 101M |
| SG&A | 74M | 94M | 106M | 117M | 130M | 167M | 151M | 205M | 231M | 253M | 291M | 311M | 320M |
| EBIT | -16M | -27M | -31M | -25M | -17M | -33M | -44M | 55M | -43M | -27M | -40M | -9.4M | -3.0M |
| Op. Margin | -15.2% | -20.6% | -20.1% | -14.3% | -8.5% | -14.4% | -21.4% | 20.1% | -12.9% | -6.7% | -8.6% | -1.8% | -0.5% |
| Net Income | -16M | -27M | -33M | -27M | -21M | -35M | -48M | 50M | -46M | -30M | -45M | -11M | -4.6M |
| Net Margin | -15.1% | -21.0% | -21.5% | -15.4% | -10.5% | -15.2% | -23.3% | 18.3% | -14.1% | -7.6% | -9.6% | -2.1% | -0.8% |
| Non-Recurring | -118K | -276K | -433K | -336K | -323K | -604K | -277K | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | -15.5% | -17.0% | -17.6% | -14.2% | -9.0% | -11.9% | -12.5% | 16.7% | -8.8% | -5.9% | -8.5% | -2.1% | -0.6% |
| ROE | -15.8% | -17.0% | -18.8% | -16.3% | -10.3% | -14.2% | -14.6% | 11.2% | -9.9% | -6.6% | -9.6% | -2.4% | -0.9% |
| ROA | -12.0% | -12.6% | -12.1% | -9.9% | -6.8% | -7.7% | -7.6% | 7.5% | -7.7% | -5.1% | -7.3% | -1.8% | -0.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -22M | -7.8M | -15M | -8.9M | -4.2M | -16M | -20M | -14M | -22M | 4.5M | 12M | 57M | 64M |
| Free Cash Flow | -27M | -21M | -23M | -15M | -10M | -28M | -25M | -24M | -39M | -7.5M | 745K | 48M | 54M |
| Owner Earnings | -37M | -24M | -41M | -45M | -29M | -43M | -52M | -52M | -63M | -46M | -47M | -7.9M | -50M |
| CapEx | 5.5M | 13M | 7.7M | 6.4M | 6.2M | 12M | 5.3M | 9.8M | 17M | 12M | 11M | 9.1M | 11M |
| Maint. CapEx | 7.7M | 7.4M | 14M | 22M | 8.8M | 9.4M | 9.5M | 10M | 12M | 15M | 19M | 21M | 68M |
| Growth CapEx | 0 | 6.0M | 0 | 0 | 0 | 2.8M | 0 | 0 | 5.2M | 0 | 0 | 0 | 0 |
| D&A | 7.7M | 7.4M | 14M | 22M | 8.8M | 9.4M | 9.5M | 10M | 12M | 15M | 19M | 21M | 68M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 267.6% | 93.9% | 15.8% | 16.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 7.6M | 9.0M | 12M | 15M | 16M | 18M | 23M | 28M | 29M | 36M | 40M | 45M | 46M |
| Debt Repayment | 6.4M | 263K | 439K | 1.7M | 1.8M | 329K | 667K | 5.8M | 899K | 992K | 63M | 1.2M | 1.2M |
| Balance Sheet | |||||||||||||
| Net Debt | -41M | -34M | -18M | -9.8M | -84M | -17M | -182M | -54M | -55M | -69M | -52M | -97M | -84M |
| Cash & Equiv. | 28M | 24M | 24M | 22M | 32M | 28M | 42M | 44M | 58M | 84M | 123M | 167M | 146M |
| Long-Term Debt | 74K | 450K | 24M | 24M | 36M | 60M | 53M | 60M | 57M | 61M | 62M | 62M | 61M |
| Debt/Equity | 0.14 | 0.00 | 0.15 | 0.15 | 0.16 | 0.26 | 0.15 | 0.14 | 0.15 | 0.15 | 0.15 | 0.14 | 0.13 |
| Interest Coverage | -53.6 | -91.5 | -17.3 | -11.0 | -3.7 | -8.1 | -9.1 | 11.2 | -8.6 | -3.9 | -6.2 | -1.6 | -1.6 |
| Equity | 133M | 187M | 168M | 161M | 249M | 247M | 412M | 484M | 457M | 466M | 461M | 492M | 492M |
| Total Assets | 158M | 273M | 276M | 268M | 357M | 558M | 715M | 615M | 585M | 614M | 609M | 654M | 644M |
| Total Liabilities | 26M | 86M | 108M | 107M | 107M | 311M | 302M | 132M | 129M | 148M | 148M | 162M | 152M |
| Intangibles | 8.9M | 54M | 52M | 51M | 49M | 130M | 128M | 43M | 39M | 64M | 56M | 48M | 46M |
| Retained Earnings | -138M | -166M | -199M | -226M | -247M | -282M | -330M | -280M | -327M | -357M | -402M | -413M | -413M |
| Working Capital | 68M | 43M | 57M | 50M | 134M | 93M | 258M | 140M | 157M | 192M | 194M | 241M | 241M |
| Current Assets | 94M | 75M | 86M | 82M | 175M | 143M | 307M | 196M | 215M | 266M | 268M | 323M | 314M |
| Current Liabilities | 26M | 32M | 29M | 32M | 40M | 50M | 49M | 56M | 58M | 75M | 73M | 82M | 73M |
| Per Share Data | |||||||||||||
| EPS | -0.61 | -0.97 | -1.05 | -0.83 | -0.62 | -0.94 | -1.14 | 1.09 | -1.02 | -0.66 | -0.95 | -0.24 | -0.09 |
| Owner EPS | -1.39 | -0.86 | -1.29 | -1.40 | -0.86 | -1.15 | -1.23 | -1.14 | -1.37 | -1.00 | -1.00 | -0.17 | -0.99 |
| Book Value | 4.99 | 6.65 | 5.31 | 4.97 | 7.31 | 6.61 | 9.76 | 10.50 | 10.03 | 10.11 | 9.80 | 10.31 | 9.71 |
| Cash Flow/Share | -0.81 | -0.28 | -0.48 | -0.28 | -0.12 | -0.42 | -0.47 | -0.30 | -0.49 | 0.10 | 0.26 | 1.20 | 1.26 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 26.6M | 28.1M | 31.8M | 32.4M | 34.1M | 37.4M | 42.2M | 46.1M | 45.6M | 46.1M | 47.1M | 47.7M | 50.6M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 65.7 | N/A | N/A | N/A | N/A | -378.6 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 39.8 | 33.1 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 58.6 | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 3.8 | 3.4 | 3.7 | 3.7 | 4.1 | 4.8 | 5.8 | 6.8 | 4.3 | 3.6 | 3.1 | 3.9 | 3.6 |
| Price/Sales | 4.3 | 4.7 | 3.4 | 3.8 | 4.4 | 4.7 | 8.4 | 11.9 | 6.9 | 5.0 | 2.9 | 3.1 | 3.2 |
| FCF Yield | -5.3% | -3.4% | -3.7% | -2.6% | -1.0% | -2.3% | -1.0% | -0.7% | -2.0% | -0.4% | 0.1% | 2.5% | 3.0% |
| Market Cap | 510M | 632M | 618M | 598M | 1.0B | 1.2B | 2.4B | 3.3B | 2.0B | 1.7B | 1.4B | 1.9B | 1.8B |
| Avg. Price | 17.51 | 21.82 | 16.61 | 20.31 | 26.07 | 29.11 | 41.08 | 70.86 | 50.21 | 43.43 | 28.32 | 35.08 | 35.04 |
| Year-End Price | 19.18 | 22.53 | 19.47 | 18.45 | 29.83 | 32.04 | 57.08 | 71.56 | 43.11 | 36.73 | 30.65 | 40.33 | 35.04 |
AtriCure, Inc. passes 5 of 9 quality checks, suggesting mixed fundamentals.
On a free-cash-flow basis, the stock trades at 36.1x vs a median of 39.8x. The company's 5-year average gross margin is 74.9%. At current prices, the estimated annualized return to fair value is +150.1%.
AtriCure, Inc. (ATRC) has a debt-to-equity ratio of 0.14. This indicates a conservatively financed balance sheet.
AtriCure, Inc. (ATRC) reported earnings per share (EPS) of $-0.24 in its most recent fiscal year.
AtriCure, Inc. (ATRC) has a return on equity (ROE) of -2.4%. A negative ROE may indicate losses or negative equity.
AtriCure, Inc. (ATRC) has a 5-year average gross margin of 74.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for AtriCure, Inc. (ATRC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
AtriCure, Inc. (ATRC) has a book value per share of $10.31, based on its most recent annual SEC filing.