AtriCure, Inc. (ATRC) 10-Year Financial Performance & Capital Metrics

ATRC • • Industrial / General

HealthcareMedical InstrumentsSurgical & Interventional DevicesCardiac & Vascular Intervention

AboutAtriCure, Inc. develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems, and intercostal nerves to medical centers in the United States, Europe, Asia, and internationally. The company offers Isolator Synergy Clamps, a single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation and ablate cardiac tissue with the same device; and the Coolrail device, which enable users to make longer linear lines of ablation. It also provides cryoICE Cryoablation System that enables the user to make linear ablations of varied lengths; EPi-Sense Guided Coagulation System, a single-use disposable device used for the treatment of symptomatic, drug-refractory, and long-standing persistent atrial fibrillation; AtriClip System, an implantable device coupled to a single-use disposable applier; and LARIAT System, a suture-based solution for soft-tissue closure compatible with a range of anatomical shapes. In addition, the company sells Lumitip Dissectors to separate tissues to provide access to key anatomical structures that are targeted for ablation; Glidepath guides for placement of clamps; Subtle Cannula's to support access for EPi-Sense catheters; and various reusable cardiac surgery instruments, which are used during surgical procedures for repair or replacement of certain heart valves. It markets and sells its products through independent distributors and direct sales personnel. The company was incorporated in 2000 and is headquartered in Mason, Ohio.Show more

Revenue $465M +16.5%
EBITDA -$21M -79.3%
Net Income -$45M -46.8%
EPS (Diluted) -0.95 -43.9%
Gross Margin 74.69% -0.7%
EBITDA Margin -4.57% -53.8%
Operating Margin -8.6% -28.7%
Net Margin -9.61% -26.0%
ROE -9.64% -46.2%
ROIC -6.89% -60.0%
Debt/Equity 0.17 +3.9%
Interest Coverage -6.25 -62.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 15.1%
✓Trading near 52-week high

✗Weaknesses

✗Negative free cash flow

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y15.78%

5Y15.05%

3Y19.26%

TTM15.8%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM26.07%

EPS CAGR

10Y-

5Y-

3Y-

TTM26.51%

ROCE

10Y Avg-7.04%

5Y Avg-3.77%

3Y Avg-6.77%

Latest-7.44%

Peer Comparison

Cardiac & Vascular Intervention

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LMATLeMaitre Vascular, Inc.	1.96B	86.50	44.82	13.63%	22.14%	14.08%	1.89%	0.55
MMSIMerit Medical Systems, Inc.	4.76B	80.35	39.58	7.89%	8.02%	7.74%	3.84%	0.58
ANGOAngioDynamics, Inc.	453.8M	11.01	-13.27	-3.76%	-9.02%	-15.71%
ATRCAtriCure, Inc.	2.06B	41.46	-43.64	16.55%	-5.55%	-6.04%		0.17

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	129.75M	155.11M	174.72M	201.63M	230.81M	206.53M	274.33M	330.38M	399.25M	465.31M
Revenue Growth %	0.21%	0.2%	0.13%	0.15%	0.14%	-0.11%	0.33%	0.2%	0.21%	0.17%
Cost of Goods Sold+	36.88M	44.01M	48.55M	54.51M	60.47M	57.22M	68.47M	84.44M	98.88M	117.78M
COGS % of Revenue	0.28%	0.28%	0.28%	0.27%	0.26%	0.28%	0.25%	0.26%	0.25%	0.25%
Gross Profit+	92.88M	111.1M	126.16M	147.12M	170.34M	149.31M	205.86M	245.94M	300.37M	347.52M
Gross Margin %	0.72%	0.72%	0.72%	0.73%	0.74%	0.72%	0.75%	0.74%	0.75%	0.75%
Gross Profit Growth %	0.23%	0.2%	0.14%	0.17%	0.16%	-0.12%	0.38%	0.19%	0.22%	0.16%
Operating Expenses+	119.59M	142.24M	151.14M	164.25M	203.46M	193.54M	150.66M	288.61M	327.05M	387.54M
OpEx % of Revenue	0.92%	0.92%	0.87%	0.81%	0.88%	0.94%	0.55%	0.87%	0.82%	0.83%
Selling, General & Admin	93.85M	106.42M	117M	129.52M	162.23M	150.47M	204.65M	231.27M	253.14M	291.36M
SG&A % of Revenue	0.72%	0.69%	0.67%	0.64%	0.7%	0.73%	0.75%	0.7%	0.63%	0.63%
Research & Development	25.74M	35.82M	34.14M	34.72M	41.23M	43.07M	48.51M	57.34M	73.92M	96.18M
R&D % of Revenue	0.2%	0.23%	0.2%	0.17%	0.18%	0.21%	0.18%	0.17%	0.19%	0.21%
Other Operating Expenses	-456K	0	0	0	0	0	-102.5M	0	0	0
Operating Income+	-26.72M	-31.14M	-24.98M	-17.13M	-33.12M	-44.23M	55.2M	-42.67M	-26.68M	-40.01M
Operating Margin %	-0.21%	-0.2%	-0.14%	-0.08%	-0.14%	-0.21%	0.2%	-0.13%	-0.07%	-0.09%
Operating Income Growth %	-0.63%	-0.17%	0.2%	0.31%	-0.93%	-0.34%	2.25%	-1.77%	0.37%	-0.5%
EBITDA+	-20.44M	-21.84M	-15.85M	-8.37M	-23.76M	-34.69M	65.65M	-30.96M	-11.87M	-21.28M
EBITDA Margin %	-0.16%	-0.14%	-0.09%	-0.04%	-0.1%	-0.17%	0.24%	-0.09%	-0.03%	-0.05%
EBITDA Growth %	-0.76%	-0.07%	0.27%	0.47%	-1.84%	-0.46%	2.89%	-1.47%	0.62%	-0.79%
D&A (Non-Cash Add-back)	6.28M	9.3M	9.13M	8.75M	9.37M	9.55M	10.44M	11.71M	14.81M	18.73M
EBIT	-26.88M	-31.5M	-24.61M	-16.3M	-30.88M	-43.16M	55.3M	-41.21M	-22.92M	-37.27M
Net Interest Income+	-102K	-1.57M	-2.04M	-3.6M	-1.71M	-3.78M	-4.45M	-2.99M	-3.13M	-1.97M
Interest Income	190K	227K	227K	1.01M	2.4M	1.1M	466K	1.99M	3.79M	4.43M
Interest Expense	292K	1.8M	2.26M	4.61M	4.11M	4.88M	4.92M	4.99M	6.92M	6.41M
Other Income/Expense	-456K	-2.16M	-1.9M	-3.78M	-1.87M	-3.81M	-4.82M	-3.53M	-3.16M	-3.66M
Pretax Income+	-27.18M	-33.3M	-26.88M	-20.91M	-34.99M	-48.04M	50.39M	-46.2M	-29.85M	-43.67M
Pretax Margin %	-0.21%	-0.21%	-0.15%	-0.1%	-0.15%	-0.23%	0.18%	-0.14%	-0.07%	-0.09%
Income Tax+	36K	40K	14K	226K	199K	114K	188K	268K	591K	1.02M
Effective Tax Rate %	1%	1%	1%	1.01%	1.01%	1%	1%	1.01%	1.02%	1.02%
Net Income+	-27.21M	-33.34M	-26.89M	-21.14M	-35.19M	-48.16M	50.2M	-46.47M	-30.44M	-44.7M
Net Margin %	-0.21%	-0.21%	-0.15%	-0.1%	-0.15%	-0.23%	0.18%	-0.14%	-0.08%	-0.1%
Net Income Growth %	-0.68%	-0.23%	0.19%	0.21%	-0.67%	-0.37%	2.04%	-1.93%	0.34%	-0.47%
Net Income (Continuing)	-27.21M	-33.34M	-26.89M	-21.14M	-35.19M	-48.16M	50.2M	-46.47M	-30.44M	-44.7M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.97	-1.05	-0.83	-0.62	-0.94	-1.14	1.09	-1.02	-0.66	-0.95
EPS Growth %	-0.59%	-0.08%	0.21%	0.25%	-0.52%	-0.21%	1.96%	-1.94%	0.35%	-0.44%
EPS (Basic)	-0.97	-1.05	-0.83	-0.62	-0.94	-1.14	1.11	-1.02	-0.66	-0.95
Diluted Shares Outstanding	28.06M	31.61M	32.39M	34.09M	37.59M	42.13M	46.04M	45.74M	46.31M	46.97M
Basic Shares Outstanding	28.06M	31.61M	32.39M	34.09M	37.59M	42.13M	45.07M	45.74M	46.31M	46.97M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	74.75M	85.72M	82.26M	174.67M	143.16M	306.74M	196.08M	215.21M	266.25M	267.83M
Cash & Short-Term Investments	34.58M	44.01M	34.45M	124.4M	81.8M	244.22M	119.09M	121.11M	137.28M	122.72M
Cash Only	23.76M	24.21M	21.81M	32.23M	28.48M	41.94M	43.65M	58.1M	84.31M	122.72M
Short-Term Investments	10.81M	19.8M	12.64M	92.17M	53.32M	202.27M	75.44M	63.01M	52.98M	0
Accounts Receivable	19.41M	21.09M	23.08M	25.2M	28.05M	23.15M	33.02M	42.69M	52.5M	60.34M
Days Sales Outstanding	54.6	49.64	48.22	45.61	44.35	40.91	43.94	47.17	48	47.33
Inventory	17.66M	17.66M	22.45M	22.48M	29.41M	35.03M	38.96M	45.93M	67.9M	75.33M
Days Inventory Outstanding	174.77	146.47	168.78	150.55	177.54	223.42	207.71	198.54	250.64	233.46
Other Current Assets	3.11M	2.95M	0	0	0	0	0	0	8.56M	9.43M
Total Non-Current Assets+	198.34M	190.7M	185.45M	182.09M	414.72M	407.8M	419.24M	370.23M	347.69M	341.5M
Property, Plant & Equipment	31.28M	30M	28.75M	27.08M	36.68M	30.2M	36.17M	42.62M	46.76M	47.39M
Fixed Asset Turnover	4.15x	5.17x	6.08x	7.45x	6.29x	6.84x	7.58x	7.75x	8.54x	9.82x
Goodwill	105.26M	105.26M	105.26M	105.26M	234.78M	234.78M	234.78M	234.78M	234.78M	234.78M
Intangible Assets	53.77M	52.13M	50.76M	49.25M	129.88M	128.2M	42.99M	39.34M	63.99M	56.47M
Long-Term Investments	7.71M	3M	0	0	12.68M	14.18M	104.34M	51.51M	0	0
Other Non-Current Assets	323K	321K	676K	495K	705K	440K	955K	1.99M	2.16M	2.87M
Total Assets+	273.09M	276.42M	267.7M	356.76M	557.88M	714.54M	615.31M	585.45M	613.93M	609.33M
Asset Turnover	0.48x	0.56x	0.65x	0.57x	0.41x	0.29x	0.45x	0.56x	0.65x	0.76x
Asset Growth %	0.72%	0.01%	-0.03%	0.33%	0.56%	0.28%	-0.14%	-0.05%	0.05%	-0.01%
Total Current Liabilities+	31.59M	28.83M	31.9M	40.22M	49.92M	49.14M	56.45M	58.39M	74.57M	73.42M
Accounts Payable	12.74M	10.67M	12.43M	9.66M	14.95M	12.74M	18.6M	19.9M	27.35M	25.03M
Days Payables Outstanding	126.13	88.52	93.45	64.68	90.22	81.24	99.14	86.01	100.98	77.57
Short-Term Debt	450K	1.69M	561K	4.72M	2.22M	6.67M	0	3.33M	2.53M	2.81M
Deferred Revenue (Current)	912K	1000K	634K	886K	0	0	0	0	0	0
Other Current Liabilities	1.77M	9.27M	10.09M	12.23M	5.64M	9.14M	33.41M	2.8M	2.75M	45.59M
Current Ratio	2.37x	2.97x	2.58x	4.34x	2.87x	6.24x	3.47x	3.69x	3.57x	3.65x
Quick Ratio	1.81x	2.36x	1.87x	3.78x	2.28x	5.53x	2.78x	2.90x	2.66x	2.62x
Cash Conversion Cycle	103.24	107.59	123.55	131.49	131.67	183.09	152.51	159.7	197.66	203.22
Total Non-Current Liabilities+	54.82M	79.15M	74.64M	67.16M	260.62M	253.01M	75.11M	70.3M	73.19M	74.94M
Long-Term Debt	0	23.89M	24.1M	35.57M	59.63M	53.44M	59.74M	56.83M	60.59M	61.87M
Capital Lease Obligations	13.71M	13.32M	12.76M	12.17M	14.57M	12.15M	14.15M	12.24M	11.37M	11.86M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	41.11M	41.95M	37.77M	19.42M	186.42M	187.42M	1.22M	1.23M	1.23M	1.21M
Total Liabilities	86.41M	107.98M	106.54M	107.38M	310.54M	302.14M	131.56M	128.69M	147.76M	148.36M
Total Debt+	14.16M	38.89M	37.42M	52.46M	76.42M	74M	75.65M	74.55M	74.49M	76.53M
Net Debt	-9.6M	14.69M	15.61M	20.23M	47.94M	32.06M	31.99M	16.45M	-9.82M	-46.19M
Debt / Equity	0.08x	0.23x	0.23x	0.21x	0.31x	0.18x	0.16x	0.16x	0.16x	0.17x
Debt / EBITDA	-	-	-	-	-	-	1.15x	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	0.49x	-	-	-
Interest Coverage	-91.51x	-17.29x	-11.03x	-3.72x	-8.06x	-9.05x	11.23x	-8.56x	-3.85x	-6.25x
Total Equity+	186.69M	168.44M	161.17M	249.38M	247.34M	412.39M	483.76M	456.75M	466.17M	460.97M
Equity Growth %	0.41%	-0.1%	-0.04%	0.55%	-0.01%	0.67%	0.17%	-0.06%	0.02%	-0.01%
Book Value per Share	6.65	5.33	4.98	7.32	6.58	9.79	10.51	9.99	10.07	9.82
Total Shareholders' Equity	186.69M	168.44M	161.17M	249.38M	247.34M	412.39M	483.76M	456.75M	466.17M	460.97M
Common Stock	32K	33K	35K	39K	40K	45K	46K	47K	48K	49K
Retained Earnings	-165.64M	-198.97M	-225.87M	-247M	-282.2M	-330.35M	-280.15M	-326.62M	-357.06M	-401.75M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-611K	-468K	34K	-199K	-158K	312K	-948K	-4.1M	-993K	-1.03M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-7.84M	-15.12M	-8.94M	-4.17M	-15.81M	-19.87M	-13.78M	-22.14M	4.48M	12.2M
Operating CF Margin %	-0.06%	-0.1%	-0.05%	-0.02%	-0.07%	-0.1%	-0.05%	-0.07%	0.01%	0.03%
Operating CF Growth %	0.64%	-0.93%	0.41%	0.53%	-2.79%	-0.26%	0.31%	-0.61%	1.2%	1.72%
Net Income	-27.21M	-33.34M	-26.89M	-21.14M	-35.19M	-48.16M	50.2M	-46.47M	-30.44M	0
Depreciation & Amortization	6.28M	9.3M	9.13M	8.75M	9.37M	9.55M	10.44M	11.71M	14.81M	0
Stock-Based Compensation	9M	11.7M	14.62M	16.5M	17.98M	22.64M	28.08M	28.77M	35.73M	0
Deferred Taxes	1.43M	1.11M	21K	724K	445K	1.51M	84.78M	0	0	0
Other Non-Cash Items	61K	1.19M	-3.81M	-10.41M	-3.79M	1.22M	-182.43M	2.72M	2.62M	30.56M
Working Capital Changes	2.6M	-5.08M	-2M	1.4M	-4.62M	-6.64M	-4.85M	-18.88M	-18.24M	-18.36M
Change in Receivables	-900K	-1.98M	-1.46M	-2.84M	-3.2M	5.09M	-10.09M	-8.99M	-9.87M	-8.3M
Change in Inventory	-2.95M	-79K	-4.48M	-146K	-5.15M	-5.26M	-4.27M	-7.3M	-21.83M	-7.74M
Change in Payables	4.01M	-1.07M	1.29M	-2.4M	2.79M	-1.56M	4.71M	2.68M	6.18M	-1.53M
Cash from Investing+	-10.5M	-12.08M	3.76M	-85.4M	-2.15M	-156.2M	23.5M	44.01M	21.82M	30.23M
Capital Expenditures	-24M	-7.69M	-6.38M	-6.21M	-12.18M	-5.26M	-9.75M	-16.88M	-12M	0
CapEx % of Revenue	0.18%	0.05%	0.04%	0.03%	0.05%	0.03%	0.04%	0.05%	0.03%	0.05%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-10.55M	3K	10.14M	6K	39K	800K	33.26M	44.01M	-30M	30.23M
Cash from Financing+	13.96M	27.7M	2.76M	100.18M	14.37M	189.39M	-7.64M	-7.06M	-32K	-3.6M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	14.67M	4.83M	6.46M	6.13M	3.54M	14.13M	11.19M	6.04M	7.52M	5.02M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-31.84M	-22.81M	-15.33M	-10.38M	-27.99M	-25.13M	-23.53M	-39.02M	-37.51M	-11.26M
FCF Margin %	-0.25%	-0.15%	-0.09%	-0.05%	-0.12%	-0.12%	-0.09%	-0.12%	-0.09%	-0.02%
FCF Growth %	-0.03%	0.28%	0.33%	0.32%	-1.7%	0.1%	0.06%	-0.66%	0.04%	0.7%
FCF per Share	-1.13	-0.72	-0.47	-0.30	-0.74	-0.60	-0.51	-0.85	-0.81	-0.24
FCF Conversion (FCF/Net Income)	0.29x	0.45x	0.33x	0.20x	0.45x	0.41x	-0.27x	0.48x	-0.15x	-0.27x
Interest Paid	232K	1.51M	2M	3.87M	3.72M	4.37M	4.22M	4.27M	6.38M	5.95M
Taxes Paid	20K	30K	37K	65K	259K	217K	190K	192K	395K	619K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-17.05%	-18.78%	-16.32%	-10.3%	-14.17%	-14.6%	11.2%	-9.88%	-6.6%	-9.64%
Return on Invested Capital (ROIC)	-14.05%	-12.97%	-10.41%	-5.76%	-8.8%	-8.97%	8.62%	-6.47%	-4.31%	-6.89%
Gross Margin	71.58%	71.63%	72.21%	72.97%	73.8%	72.29%	75.04%	74.44%	75.23%	74.69%
Net Margin	-20.97%	-21.49%	-15.39%	-10.48%	-15.25%	-23.32%	18.3%	-14.06%	-7.62%	-9.61%
Debt / Equity	0.08x	0.23x	0.23x	0.21x	0.31x	0.18x	0.16x	0.16x	0.16x	0.17x
Interest Coverage	-91.51x	-17.29x	-11.03x	-3.72x	-8.06x	-9.05x	11.23x	-8.56x	-3.85x	-6.25x
FCF Conversion	0.29x	0.45x	0.33x	0.20x	0.45x	0.41x	-0.27x	0.48x	-0.15x	-0.27x
Revenue Growth	20.75%	19.54%	12.64%	15.4%	14.47%	-10.52%	32.83%	20.43%	20.84%	16.55%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Shipping and Handling	-	-	-	-	-	-	1.35M	1.5M	1.86M	2.42M
Shipping and Handling Growth	-	-	-	-	-	-	-	10.49%	24.33%	30.16%
Shipping And Handling	-	-	-	1.24M	1.49M	1.19M	-	-	-	-
Shipping And Handling Growth	-	-	-	-	20.15%	-19.73%	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
U [S]	-	-	-	-	185.83M	169.24M	229.13M	277.2M	333.54M	382.82M
U [S] Growth	-	-	-	-	-	-8.92%	35.39%	20.98%	20.33%	14.77%
Non Us	-	-	-	-	44.98M	37.29M	45.2M	53.18M	65.7M	82.49M
Non Us Growth	-	-	-	-	-	-17.10%	21.22%	17.66%	23.55%	25.56%
Europe	17.18M	19.77M	21.9M	25.91M	-	-	-	-	-	-
Europe Growth	-	15.09%	10.77%	18.31%	-	-	-	-	-	-
Asia	9.51M	12.22M	13.62M	12.69M	-	-	-	-	-	-
Asia Growth	-	28.53%	11.40%	-6.82%	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

AtriCure, Inc. (ATRC) reported $518.3M in revenue for fiscal year 2024. This represents a 705% increase from $64.4M in 2011.

AtriCure, Inc. (ATRC) grew revenue by 16.5% over the past year. This is strong growth.

AtriCure, Inc. (ATRC) reported a net loss of $28.8M for fiscal year 2024.

Dividend & Returns

AtriCure, Inc. (ATRC) has a return on equity (ROE) of -9.6%. Negative ROE indicates the company is unprofitable.

AtriCure, Inc. (ATRC) generated $16.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...

AtriCure, Inc. (ATRC) 10-Year Financial Performance & Capital Metrics

ATRC • • Industrial / General

HealthcareMedical InstrumentsSurgical & Interventional DevicesCardiac & Vascular Intervention

Revenue $465M +16.5%
EBITDA -$21M -79.3%
Net Income -$45M -46.8%
EPS (Diluted) -0.95 -43.9%
Gross Margin 74.69% -0.7%
EBITDA Margin -4.57% -53.8%
Operating Margin -8.6% -28.7%
Net Margin -9.61% -26.0%
ROE -9.64% -46.2%
ROIC -6.89% -60.0%
Debt/Equity 0.17 +3.9%
Interest Coverage -6.25 -62.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 15.1%
✓Trading near 52-week high

✗Weaknesses

✗Negative free cash flow

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y15.78%

5Y15.05%

3Y19.26%

TTM15.8%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM26.07%

EPS CAGR

10Y-

5Y-

3Y-

TTM26.51%

ROCE

10Y Avg-7.04%

5Y Avg-3.77%

3Y Avg-6.77%

Latest-7.44%

Peer Comparison

Cardiac & Vascular Intervention

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LMATLeMaitre Vascular, Inc.	1.96B	86.50	44.82	13.63%	22.14%	14.08%	1.89%	0.55
MMSIMerit Medical Systems, Inc.	4.76B	80.35	39.58	7.89%	8.02%	7.74%	3.84%	0.58
ANGOAngioDynamics, Inc.	453.8M	11.01	-13.27	-3.76%	-9.02%	-15.71%
ATRCAtriCure, Inc.	2.06B	41.46	-43.64	16.55%	-5.55%	-6.04%		0.17

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	129.75M	155.11M	174.72M	201.63M	230.81M	206.53M	274.33M	330.38M	399.25M	465.31M
Revenue Growth %	0.21%	0.2%	0.13%	0.15%	0.14%	-0.11%	0.33%	0.2%	0.21%	0.17%
Cost of Goods Sold+	36.88M	44.01M	48.55M	54.51M	60.47M	57.22M	68.47M	84.44M	98.88M	117.78M
COGS % of Revenue	0.28%	0.28%	0.28%	0.27%	0.26%	0.28%	0.25%	0.26%	0.25%	0.25%
Gross Profit+	92.88M	111.1M	126.16M	147.12M	170.34M	149.31M	205.86M	245.94M	300.37M	347.52M
Gross Margin %	0.72%	0.72%	0.72%	0.73%	0.74%	0.72%	0.75%	0.74%	0.75%	0.75%
Gross Profit Growth %	0.23%	0.2%	0.14%	0.17%	0.16%	-0.12%	0.38%	0.19%	0.22%	0.16%
Operating Expenses+	119.59M	142.24M	151.14M	164.25M	203.46M	193.54M	150.66M	288.61M	327.05M	387.54M
OpEx % of Revenue	0.92%	0.92%	0.87%	0.81%	0.88%	0.94%	0.55%	0.87%	0.82%	0.83%
Selling, General & Admin	93.85M	106.42M	117M	129.52M	162.23M	150.47M	204.65M	231.27M	253.14M	291.36M
SG&A % of Revenue	0.72%	0.69%	0.67%	0.64%	0.7%	0.73%	0.75%	0.7%	0.63%	0.63%
Research & Development	25.74M	35.82M	34.14M	34.72M	41.23M	43.07M	48.51M	57.34M	73.92M	96.18M
R&D % of Revenue	0.2%	0.23%	0.2%	0.17%	0.18%	0.21%	0.18%	0.17%	0.19%	0.21%
Other Operating Expenses	-456K	0	0	0	0	0	-102.5M	0	0	0
Operating Income+	-26.72M	-31.14M	-24.98M	-17.13M	-33.12M	-44.23M	55.2M	-42.67M	-26.68M	-40.01M
Operating Margin %	-0.21%	-0.2%	-0.14%	-0.08%	-0.14%	-0.21%	0.2%	-0.13%	-0.07%	-0.09%
Operating Income Growth %	-0.63%	-0.17%	0.2%	0.31%	-0.93%	-0.34%	2.25%	-1.77%	0.37%	-0.5%
EBITDA+	-20.44M	-21.84M	-15.85M	-8.37M	-23.76M	-34.69M	65.65M	-30.96M	-11.87M	-21.28M
EBITDA Margin %	-0.16%	-0.14%	-0.09%	-0.04%	-0.1%	-0.17%	0.24%	-0.09%	-0.03%	-0.05%
EBITDA Growth %	-0.76%	-0.07%	0.27%	0.47%	-1.84%	-0.46%	2.89%	-1.47%	0.62%	-0.79%
D&A (Non-Cash Add-back)	6.28M	9.3M	9.13M	8.75M	9.37M	9.55M	10.44M	11.71M	14.81M	18.73M
EBIT	-26.88M	-31.5M	-24.61M	-16.3M	-30.88M	-43.16M	55.3M	-41.21M	-22.92M	-37.27M
Net Interest Income+	-102K	-1.57M	-2.04M	-3.6M	-1.71M	-3.78M	-4.45M	-2.99M	-3.13M	-1.97M
Interest Income	190K	227K	227K	1.01M	2.4M	1.1M	466K	1.99M	3.79M	4.43M
Interest Expense	292K	1.8M	2.26M	4.61M	4.11M	4.88M	4.92M	4.99M	6.92M	6.41M
Other Income/Expense	-456K	-2.16M	-1.9M	-3.78M	-1.87M	-3.81M	-4.82M	-3.53M	-3.16M	-3.66M
Pretax Income+	-27.18M	-33.3M	-26.88M	-20.91M	-34.99M	-48.04M	50.39M	-46.2M	-29.85M	-43.67M
Pretax Margin %	-0.21%	-0.21%	-0.15%	-0.1%	-0.15%	-0.23%	0.18%	-0.14%	-0.07%	-0.09%
Income Tax+	36K	40K	14K	226K	199K	114K	188K	268K	591K	1.02M
Effective Tax Rate %	1%	1%	1%	1.01%	1.01%	1%	1%	1.01%	1.02%	1.02%
Net Income+	-27.21M	-33.34M	-26.89M	-21.14M	-35.19M	-48.16M	50.2M	-46.47M	-30.44M	-44.7M
Net Margin %	-0.21%	-0.21%	-0.15%	-0.1%	-0.15%	-0.23%	0.18%	-0.14%	-0.08%	-0.1%
Net Income Growth %	-0.68%	-0.23%	0.19%	0.21%	-0.67%	-0.37%	2.04%	-1.93%	0.34%	-0.47%
Net Income (Continuing)	-27.21M	-33.34M	-26.89M	-21.14M	-35.19M	-48.16M	50.2M	-46.47M	-30.44M	-44.7M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.97	-1.05	-0.83	-0.62	-0.94	-1.14	1.09	-1.02	-0.66	-0.95
EPS Growth %	-0.59%	-0.08%	0.21%	0.25%	-0.52%	-0.21%	1.96%	-1.94%	0.35%	-0.44%
EPS (Basic)	-0.97	-1.05	-0.83	-0.62	-0.94	-1.14	1.11	-1.02	-0.66	-0.95
Diluted Shares Outstanding	28.06M	31.61M	32.39M	34.09M	37.59M	42.13M	46.04M	45.74M	46.31M	46.97M
Basic Shares Outstanding	28.06M	31.61M	32.39M	34.09M	37.59M	42.13M	45.07M	45.74M	46.31M	46.97M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	74.75M	85.72M	82.26M	174.67M	143.16M	306.74M	196.08M	215.21M	266.25M	267.83M
Cash & Short-Term Investments	34.58M	44.01M	34.45M	124.4M	81.8M	244.22M	119.09M	121.11M	137.28M	122.72M
Cash Only	23.76M	24.21M	21.81M	32.23M	28.48M	41.94M	43.65M	58.1M	84.31M	122.72M
Short-Term Investments	10.81M	19.8M	12.64M	92.17M	53.32M	202.27M	75.44M	63.01M	52.98M	0
Accounts Receivable	19.41M	21.09M	23.08M	25.2M	28.05M	23.15M	33.02M	42.69M	52.5M	60.34M
Days Sales Outstanding	54.6	49.64	48.22	45.61	44.35	40.91	43.94	47.17	48	47.33
Inventory	17.66M	17.66M	22.45M	22.48M	29.41M	35.03M	38.96M	45.93M	67.9M	75.33M
Days Inventory Outstanding	174.77	146.47	168.78	150.55	177.54	223.42	207.71	198.54	250.64	233.46
Other Current Assets	3.11M	2.95M	0	0	0	0	0	0	8.56M	9.43M
Total Non-Current Assets+	198.34M	190.7M	185.45M	182.09M	414.72M	407.8M	419.24M	370.23M	347.69M	341.5M
Property, Plant & Equipment	31.28M	30M	28.75M	27.08M	36.68M	30.2M	36.17M	42.62M	46.76M	47.39M
Fixed Asset Turnover	4.15x	5.17x	6.08x	7.45x	6.29x	6.84x	7.58x	7.75x	8.54x	9.82x
Goodwill	105.26M	105.26M	105.26M	105.26M	234.78M	234.78M	234.78M	234.78M	234.78M	234.78M
Intangible Assets	53.77M	52.13M	50.76M	49.25M	129.88M	128.2M	42.99M	39.34M	63.99M	56.47M
Long-Term Investments	7.71M	3M	0	0	12.68M	14.18M	104.34M	51.51M	0	0
Other Non-Current Assets	323K	321K	676K	495K	705K	440K	955K	1.99M	2.16M	2.87M
Total Assets+	273.09M	276.42M	267.7M	356.76M	557.88M	714.54M	615.31M	585.45M	613.93M	609.33M
Asset Turnover	0.48x	0.56x	0.65x	0.57x	0.41x	0.29x	0.45x	0.56x	0.65x	0.76x
Asset Growth %	0.72%	0.01%	-0.03%	0.33%	0.56%	0.28%	-0.14%	-0.05%	0.05%	-0.01%
Total Current Liabilities+	31.59M	28.83M	31.9M	40.22M	49.92M	49.14M	56.45M	58.39M	74.57M	73.42M
Accounts Payable	12.74M	10.67M	12.43M	9.66M	14.95M	12.74M	18.6M	19.9M	27.35M	25.03M
Days Payables Outstanding	126.13	88.52	93.45	64.68	90.22	81.24	99.14	86.01	100.98	77.57
Short-Term Debt	450K	1.69M	561K	4.72M	2.22M	6.67M	0	3.33M	2.53M	2.81M
Deferred Revenue (Current)	912K	1000K	634K	886K	0	0	0	0	0	0
Other Current Liabilities	1.77M	9.27M	10.09M	12.23M	5.64M	9.14M	33.41M	2.8M	2.75M	45.59M
Current Ratio	2.37x	2.97x	2.58x	4.34x	2.87x	6.24x	3.47x	3.69x	3.57x	3.65x
Quick Ratio	1.81x	2.36x	1.87x	3.78x	2.28x	5.53x	2.78x	2.90x	2.66x	2.62x
Cash Conversion Cycle	103.24	107.59	123.55	131.49	131.67	183.09	152.51	159.7	197.66	203.22
Total Non-Current Liabilities+	54.82M	79.15M	74.64M	67.16M	260.62M	253.01M	75.11M	70.3M	73.19M	74.94M
Long-Term Debt	0	23.89M	24.1M	35.57M	59.63M	53.44M	59.74M	56.83M	60.59M	61.87M
Capital Lease Obligations	13.71M	13.32M	12.76M	12.17M	14.57M	12.15M	14.15M	12.24M	11.37M	11.86M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	41.11M	41.95M	37.77M	19.42M	186.42M	187.42M	1.22M	1.23M	1.23M	1.21M
Total Liabilities	86.41M	107.98M	106.54M	107.38M	310.54M	302.14M	131.56M	128.69M	147.76M	148.36M
Total Debt+	14.16M	38.89M	37.42M	52.46M	76.42M	74M	75.65M	74.55M	74.49M	76.53M
Net Debt	-9.6M	14.69M	15.61M	20.23M	47.94M	32.06M	31.99M	16.45M	-9.82M	-46.19M
Debt / Equity	0.08x	0.23x	0.23x	0.21x	0.31x	0.18x	0.16x	0.16x	0.16x	0.17x
Debt / EBITDA	-	-	-	-	-	-	1.15x	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	0.49x	-	-	-
Interest Coverage	-91.51x	-17.29x	-11.03x	-3.72x	-8.06x	-9.05x	11.23x	-8.56x	-3.85x	-6.25x
Total Equity+	186.69M	168.44M	161.17M	249.38M	247.34M	412.39M	483.76M	456.75M	466.17M	460.97M
Equity Growth %	0.41%	-0.1%	-0.04%	0.55%	-0.01%	0.67%	0.17%	-0.06%	0.02%	-0.01%
Book Value per Share	6.65	5.33	4.98	7.32	6.58	9.79	10.51	9.99	10.07	9.82
Total Shareholders' Equity	186.69M	168.44M	161.17M	249.38M	247.34M	412.39M	483.76M	456.75M	466.17M	460.97M
Common Stock	32K	33K	35K	39K	40K	45K	46K	47K	48K	49K
Retained Earnings	-165.64M	-198.97M	-225.87M	-247M	-282.2M	-330.35M	-280.15M	-326.62M	-357.06M	-401.75M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-611K	-468K	34K	-199K	-158K	312K	-948K	-4.1M	-993K	-1.03M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-7.84M	-15.12M	-8.94M	-4.17M	-15.81M	-19.87M	-13.78M	-22.14M	4.48M	12.2M
Operating CF Margin %	-0.06%	-0.1%	-0.05%	-0.02%	-0.07%	-0.1%	-0.05%	-0.07%	0.01%	0.03%
Operating CF Growth %	0.64%	-0.93%	0.41%	0.53%	-2.79%	-0.26%	0.31%	-0.61%	1.2%	1.72%
Net Income	-27.21M	-33.34M	-26.89M	-21.14M	-35.19M	-48.16M	50.2M	-46.47M	-30.44M	0
Depreciation & Amortization	6.28M	9.3M	9.13M	8.75M	9.37M	9.55M	10.44M	11.71M	14.81M	0
Stock-Based Compensation	9M	11.7M	14.62M	16.5M	17.98M	22.64M	28.08M	28.77M	35.73M	0
Deferred Taxes	1.43M	1.11M	21K	724K	445K	1.51M	84.78M	0	0	0
Other Non-Cash Items	61K	1.19M	-3.81M	-10.41M	-3.79M	1.22M	-182.43M	2.72M	2.62M	30.56M
Working Capital Changes	2.6M	-5.08M	-2M	1.4M	-4.62M	-6.64M	-4.85M	-18.88M	-18.24M	-18.36M
Change in Receivables	-900K	-1.98M	-1.46M	-2.84M	-3.2M	5.09M	-10.09M	-8.99M	-9.87M	-8.3M
Change in Inventory	-2.95M	-79K	-4.48M	-146K	-5.15M	-5.26M	-4.27M	-7.3M	-21.83M	-7.74M
Change in Payables	4.01M	-1.07M	1.29M	-2.4M	2.79M	-1.56M	4.71M	2.68M	6.18M	-1.53M
Cash from Investing+	-10.5M	-12.08M	3.76M	-85.4M	-2.15M	-156.2M	23.5M	44.01M	21.82M	30.23M
Capital Expenditures	-24M	-7.69M	-6.38M	-6.21M	-12.18M	-5.26M	-9.75M	-16.88M	-12M	0
CapEx % of Revenue	0.18%	0.05%	0.04%	0.03%	0.05%	0.03%	0.04%	0.05%	0.03%	0.05%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-10.55M	3K	10.14M	6K	39K	800K	33.26M	44.01M	-30M	30.23M
Cash from Financing+	13.96M	27.7M	2.76M	100.18M	14.37M	189.39M	-7.64M	-7.06M	-32K	-3.6M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	14.67M	4.83M	6.46M	6.13M	3.54M	14.13M	11.19M	6.04M	7.52M	5.02M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-31.84M	-22.81M	-15.33M	-10.38M	-27.99M	-25.13M	-23.53M	-39.02M	-37.51M	-11.26M
FCF Margin %	-0.25%	-0.15%	-0.09%	-0.05%	-0.12%	-0.12%	-0.09%	-0.12%	-0.09%	-0.02%
FCF Growth %	-0.03%	0.28%	0.33%	0.32%	-1.7%	0.1%	0.06%	-0.66%	0.04%	0.7%
FCF per Share	-1.13	-0.72	-0.47	-0.30	-0.74	-0.60	-0.51	-0.85	-0.81	-0.24
FCF Conversion (FCF/Net Income)	0.29x	0.45x	0.33x	0.20x	0.45x	0.41x	-0.27x	0.48x	-0.15x	-0.27x
Interest Paid	232K	1.51M	2M	3.87M	3.72M	4.37M	4.22M	4.27M	6.38M	5.95M
Taxes Paid	20K	30K	37K	65K	259K	217K	190K	192K	395K	619K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-17.05%	-18.78%	-16.32%	-10.3%	-14.17%	-14.6%	11.2%	-9.88%	-6.6%	-9.64%
Return on Invested Capital (ROIC)	-14.05%	-12.97%	-10.41%	-5.76%	-8.8%	-8.97%	8.62%	-6.47%	-4.31%	-6.89%
Gross Margin	71.58%	71.63%	72.21%	72.97%	73.8%	72.29%	75.04%	74.44%	75.23%	74.69%
Net Margin	-20.97%	-21.49%	-15.39%	-10.48%	-15.25%	-23.32%	18.3%	-14.06%	-7.62%	-9.61%
Debt / Equity	0.08x	0.23x	0.23x	0.21x	0.31x	0.18x	0.16x	0.16x	0.16x	0.17x
Interest Coverage	-91.51x	-17.29x	-11.03x	-3.72x	-8.06x	-9.05x	11.23x	-8.56x	-3.85x	-6.25x
FCF Conversion	0.29x	0.45x	0.33x	0.20x	0.45x	0.41x	-0.27x	0.48x	-0.15x	-0.27x
Revenue Growth	20.75%	19.54%	12.64%	15.4%	14.47%	-10.52%	32.83%	20.43%	20.84%	16.55%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Shipping and Handling	-	-	-	-	-	-	1.35M	1.5M	1.86M	2.42M
Shipping and Handling Growth	-	-	-	-	-	-	-	10.49%	24.33%	30.16%
Shipping And Handling	-	-	-	1.24M	1.49M	1.19M	-	-	-	-
Shipping And Handling Growth	-	-	-	-	20.15%	-19.73%	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
U [S]	-	-	-	-	185.83M	169.24M	229.13M	277.2M	333.54M	382.82M
U [S] Growth	-	-	-	-	-	-8.92%	35.39%	20.98%	20.33%	14.77%
Non Us	-	-	-	-	44.98M	37.29M	45.2M	53.18M	65.7M	82.49M
Non Us Growth	-	-	-	-	-	-17.10%	21.22%	17.66%	23.55%	25.56%
Europe	17.18M	19.77M	21.9M	25.91M	-	-	-	-	-	-
Europe Growth	-	15.09%	10.77%	18.31%	-	-	-	-	-	-
Asia	9.51M	12.22M	13.62M	12.69M	-	-	-	-	-	-
Asia Growth	-	28.53%	11.40%	-6.82%	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

AtriCure, Inc. (ATRC) reported $518.3M in revenue for fiscal year 2024. This represents a 705% increase from $64.4M in 2011.

AtriCure, Inc. (ATRC) grew revenue by 16.5% over the past year. This is strong growth.

AtriCure, Inc. (ATRC) reported a net loss of $28.8M for fiscal year 2024.

Dividend & Returns

AtriCure, Inc. (ATRC) has a return on equity (ROE) of -9.6%. Negative ROE indicates the company is unprofitable.

AtriCure, Inc. (ATRC) generated $16.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.