Loading...
•
Sep 30, 2022
Atricure Q3 2022 Earnings Report
Reported strong financial results driven by commercial execution and product portfolio strength.
Key Takeaways
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.
Revenue by Geographic Location
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.
Positive Outlook
- 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.
Challenges Ahead
- 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...