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Sep 30, 2024
Atricure Q3 2024 Earnings Report
Reported a 17.9% year-over-year increase in worldwide revenue, driven by strong adoption trends and new product launches.
Key Takeaways
AtriCure reported strong third-quarter results, with worldwide revenue increasing by 17.9% year-over-year to $115.9 million. The company experienced growth across key product lines and geographies, driven by the adoption of its products and the launch of new products. AtriCure also generated positive cash flow and improved profitability.
Worldwide revenue increased by 17.9% year-over-year to $115.9 million.
U.S. revenue increased by 16.8% year-over-year to $95.5 million.
International revenue increased by 23.3% year-over-year to $20.5 million.
Generated positive cash flow of $16.3 million in the third quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
AtriCure expects full year 2024 revenue of approximately $459 million to $462 million, reflecting growth of approximately 15% to 16%. Management continues to expect full year 2024 Adjusted EBITDA of approximately $26 million to $29 million. Full year 2024 adjusted loss per share is expected to be in the range of $0.74 to $0.80.
Positive Outlook
- Revenue growth of approximately 15% to 16% is expected for full year 2024.
- Adjusted EBITDA is expected to increase by 34% to 49% over full year 2023.
- Continued improvement in profitability.
- Ongoing adoption trends throughout the business.
- Expansion of access to innovative solutions for patients and providers worldwide.
Challenges Ahead
- Full year 2024 adjusted loss per share is expected to be in the range of $0.74 to $0.80.
- Normal seasonality of procedures in summer months.
- Less favorable geographic and product mix impacted gross margin.
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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