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Mar 31, 2022
Atricure Q1 2022 Earnings Report
AtriCure reported first quarter results with revenue increasing by 25.8% and a net loss per share of $0.33.
Key Takeaways
AtriCure reported strong first quarter 2022 financial results, with revenue reaching $74.6 million, a 25.8% increase year-over-year. U.S. revenue grew by 23.8%, driven by cryoSPHERE® probe and AtriClip® Flex-V devices. The company's net loss per share was $0.33.
Revenue for the first quarter 2022 was $74.6 million, a 25.8% increase year-over-year.
U.S. revenue increased by 23.8% to $62.3 million, driven by cryoSPHERE® probe and AtriClip® Flex-V devices.
International revenue increased by 37.2% to $12.3 million.
Basic and diluted net loss per share was $0.33 for the first quarter 2022.
Revenue by Geographic Location
Forward Guidance
Full year 2022 revenue is projected to be approximately $318 million to $330 million, reflecting growth of approximately 16% to 20% over full year 2021. Management continues to expect full year 2022 adjusted EBITDA to be a loss of approximately $2 million to $4 million, and the full year 2022 adjusted loss per share of approximately $1.07 to $1.12.
Positive Outlook
- Full year 2022 revenue is projected to be approximately $318 million to $330 million.
- Revenue growth of approximately 16% to 20% over full year 2021 is expected.
- Management expects continued growth in key product areas.
- Expansion of the Cryo Nerve Block team is expected to contribute to growth.
- Full commercial launch of the EnCompass® clamp is underway.
Challenges Ahead
- Full year 2022 adjusted EBITDA is expected to be a loss of approximately $2 million to $4 million.
- Full year 2022 adjusted loss per share is projected to be approximately $1.07 to $1.12.
- Loss from operations for the first quarter 2022 was $14.2 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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