📊 ATRC Key Takeaways
Investment Thesis
AtriCure demonstrates strong revenue growth (+14.9% YoY) and excellent gross margins (75%), supported by robust free cash flow generation ($48.3M). However, persistent operating losses (-1.8% margin) and negative profitability despite substantial revenue raise concerns about the path to sustainable profitability and operational efficiency.
ATRC Strengths
- Strong revenue growth at 14.9% YoY indicates market demand and commercial execution
- Exceptional gross margin of 75% demonstrates pricing power and operational leverage potential
- Solid free cash flow of $48.3M (9% FCF margin) shows the business generates cash despite net losses
- Strong balance sheet with low leverage (0.13x Debt/Equity) and substantial cash position ($167.4M)
- Excellent liquidity ratios (3.96x current, 2.99x quick) provide financial flexibility
- Improving net income losses (-2.1% net margin vs worse prior year) shows trajectory toward profitability
ATRC Risks
- Persistent operating losses (-$9.4M) despite $534.5M revenue scale raises questions about cost structure and operational efficiency
- Negative interest coverage (-5.6x) indicates inability to cover interest from operating earnings; dependent on FCF and cash reserves
- Net losses continue (-$11.4M) though improved, suggesting the company has not achieved sustainable profitability despite scale
- Heavy R&D and SG&A burden appears to be suppressing operating leverage despite strong gross margins
- Medical device sector competitive pressures and regulatory risks could impact future growth sustainability
Key Metrics to Watch
- Operating margin progression toward breakeven and profitability
- Revenue growth sustainability and market penetration rates
- Operating cash flow relative to net income - sustainability of cash generation vs. accounting losses
- Gross margin maintenance as revenue scales
- Cash burn rate and runway given current operating structure
ATRC Financial Metrics
💡 AI Analyst Insight
Strong liquidity with a 3.96x current ratio provides a solid financial cushion.
ATRC Profitability Ratios
ATRC vs Healthcare Sector
How AtriCure, Inc. compares to Healthcare sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
ATRC Balance Sheet & Liquidity
ATRC 5-Year Financial Trend
5-Year Trend Summary: AtriCure, Inc.'s revenue has grown significantly by 95% over the 5-year period, indicating strong business expansion. The most recent EPS of $-0.66 indicates the company is currently unprofitable.
ATRC Growth Metrics (YoY)
ATRC Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $115.9M | -$267.0K | $-0.01 |
| Q2 2025 | $116.3M | -$6.2M | $-0.13 |
| Q1 2025 | $108.9M | -$6.7M | $-0.14 |
| Q3 2024 | $98.3M | -$7.9M | $-0.17 |
| Q2 2024 | $100.9M | -$5.1M | $-0.11 |
| Q1 2024 | $93.5M | -$6.5M | $-0.14 |
| Q3 2023 | $83.2M | -$9.1M | $-0.20 |
| Q2 2023 | $84.5M | -$5.1M | $-0.11 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
ATRC Capital Allocation
ATRC SEC Filings
Access official SEC EDGAR filings for AtriCure, Inc. (CIK: 0001323885)
📋 Recent SEC Filings
| Date | Form | Document | Action |
|---|---|---|---|
| Mar 16, 2026 | 4 | xslF345X05/wk-form4_1773663272.xml | View → |
| Mar 12, 2026 | 4 | xslF345X05/wk-form4_1773319961.xml | View → |
| Mar 9, 2026 | 4 | xslF345X05/wk-form4_1773059554.xml | View → |
| Mar 3, 2026 | 4 | xslF345X05/wk-form4_1772574793.xml | View → |
| Mar 3, 2026 | 4 | xslF345X05/wk-form4_1772574787.xml | View → |
❓ Frequently Asked Questions about ATRC
What is the AI rating for ATRC?
AtriCure, Inc. (ATRC) has an AI rating of HOLD with 62% confidence, based on fundamental analysis of SEC EDGAR filings.
What are ATRC's key strengths?
Strong revenue growth at 14.9% YoY indicates market demand and commercial execution. Exceptional gross margin of 75% demonstrates pricing power and operational leverage potential.
What are the risks of investing in ATRC?
Persistent operating losses (-$9.4M) despite $534.5M revenue scale raises questions about cost structure and operational efficiency. Negative interest coverage (-5.6x) indicates inability to cover interest from operating earnings; dependent on FCF and cash reserves.
What is ATRC's revenue and growth?
AtriCure, Inc. reported revenue of $534.5M.
Does ATRC pay dividends?
AtriCure, Inc. does not currently pay dividends.
Where can I find ATRC SEC filings?
Official SEC filings for AtriCure, Inc. (CIK: 0001323885) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is ATRC's EPS?
AtriCure, Inc. has a diluted EPS of $-0.24.
How is the AI analysis conducted?
Our AI (Claude) analyzes publicly available SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports to evaluate financial health, profitability ratios, balance sheet strength, and growth metrics.