AtriCure Inc Stock Research

Market Summary

USD39.35+0.21

Delayed

0.54%

ATRC Alerts

Big jump in Earnings (Y/Y)
Losses in recent quarter

ATRC Stock Price

ATRC RSI Chart

ATRC Valuation

Market Cap

1.8B

Price/Earnings (Trailing)

-39.43

Price/Sales (Trailing)

5.55

EV/EBITDA

-53.51

Price/Free Cashflow

-46.95

ATRC Price/Sales (Trailing)

ATRC Profitability

Operating Margin

74.44%

EBT Margin

-13.98%

Return on Equity

-10.17%

Return on Assets

-7.94%

Free Cashflow Yield

-2.13%

ATRC Fundamentals

ATRC Revenue

Revenue (TTM)

330.4M

Revenue Y/Y

20.23%

Revenue Q/Q

5.74%

ATRC Earnings

Earnings (TTM)

-46.5M

Earnings Y/Y

69.65%

Earnings Q/Q

66.02%

Price Action

52 Week Range

32.5168.58

(Low)(High)

Last 7 days

Last 30 days

-9.2%

Last 90 days

-7.8%

Trailing 12 Months

-33.7%

ATRC Financial Health

Current Ratio

3.69

ATRC Investor Care

Shares Dilution (1Y)

1.19%

Diluted EPS (TTM)

-1.02

Peers (Alternatives to AtriCure)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
SYK	104.1B	18.4B	2.26%	8.00%	44.16	5.64	7.84%	18.25%
ISRG	84.2B	6.2B	-4.47%	-13.27%	63.66	13.53	8.97%	-22.43%
BSX	69.1B	12.7B	0.59%	12.45%	99.06	5.45	6.68%	-32.95%
BDX	67.4B	19.0B	-5.16%	-6.78%	41.86	3.55	-0.43%	-8.78%
EW	49.8B	5.4B	2.41%	-25.12%	32.74	9.26	2.86%	1.25%
MID-CAP
SWAV	7.2T	489.7M	9.34%	31.15%	82.2K	16.8K	106.51%	2464.23%
PEN	10.2B	847.1M	-3.64%	34.52%	-5.1K	12.05	13.32%	-137.89%
GMED	5.2B	1.0B	-11.64%	-20.31%	30.19	5.09	6.76%	24.45%
IRTC	3.5B	410.9M	4.51%	-3.13%	-29.82	8.43	27.29%	-14.60%
TNDM	2.7B	801.2M	1.13%	-58.87%	-28.25	3.34	14.00%	-707.69%
SMALL-CAP
SILK	1.7B	138.6M	-15.68%	29.18%	-30.43	12.07	36.62%	-10.44%
ATEC	1.6B	350.9M	10.38%	49.06%	-10.84	4.7	44.26%	-5.42%
AVNS	1.3B	820.0M	-8.35%	-12.22%	25.89	1.59	10.13%	701.59%
CSII	828.4M	239.8M	0.30%	1.49%	-21.88	3.45	-4.74%	-31.15%

Financials for AtriCure

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	4.7%	330	316	303	290	274
Cost Of Revenue	5.9%	84.00	80.00	76.00	73.00	68.00
Gross Profit	4.3%	246	236	226	217	206
Operating Expenses	0.6%	289	287	168	160	151
S&GA Expenses	0.8%	231	229	222	217	205
R&D Expenses	-0.1%	57.00	57.00	54.00	51.00	49.00
EBITDA	23.9%	-33.15	-43.59	66.00	64.00	-
EBITDA Margin	27.3%	-0.10*	-0.14*	0.22*	0.22*	-
Earnings Before Taxes	17.3%	-46.20	-55.84	54.00	52.00	50.00
EBT Margin	21.0%	-0.14*	-0.18*	0.18*	0.18*	-
Interest Expenses	10.6%	5.00	5.00	5.00	5.00	5.00
Net Income	17.1%	-46.47	-56.04	53.00	52.00	50.00
Net Income Margin	20.8%	-0.14*	-0.18*	0.18*	0.18*	-
Free Cahsflow	-4.6%	-39.02	-37.31	-32.11	-40.90	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	0.6%	585	582	587	585	615
Current Assets	1.4%	215	212	206	200	196
Cash Equivalents	19.0%	58.00	49.00	55.00	28.00	44.00
Inventory	4.5%	46.00	44.00	41.00	41.00	39.00
Net PPE	6.9%	39.00	36.00	33.00	31.00	-
Goodwill	0%	235	235	235	235	235
Liabilities	-2.2%	129	132	131	122	132
Current Liabilities	1.4%	58.00	58.00	56.00	47.00	56.00
LT Debt, Non Current	-5.4%	57.00	60.00	60.00	60.00	60.00
Shareholder's Equity	1.4%	457	450	457	463	484
Retained Earnings	-1.3%	-326	-322	-310	-295	-280
Additional Paid-In Capital	1.2%	787	778	771	762	765
Shares Outstanding	0.3%	47.00	46.00	46.00	46.00	46.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-1.2%	-22.14	-21.89	-20.33	-29.10	-13.78
Share Based Compensation	-1.2%	29.00	29.00	29.00	29.00	28.00
Cashflow From Investing	15.6%	44.00	38.00	16.00	-20.36	24.00
Cashflow From Financing	-8.0%	-7.06	-6.53	-8.39	-7.43	-7.64

Risks for ATRC

What is the probability of a big loss on ATRC?

90%

Probability that AtriCure stock will be more than 20% underwater in next one year

56.1%

Probability that AtriCure stock will be more than 30% underwater in next one year.

36.1%

Probability that AtriCure stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does ATRC drawdown profile look like?

Y-axis is the maximum loss one would have experienced if AtriCure was unfortunately bought at previous high price.

Drawdowns

Returns for ATRC

Cumulative Returns on ATRC

16.3%

10-Year Cumulative Returns

12.3%

7-Year Cumulative Returns

13.2%

5-Year Cumulative Returns

8.8%

3-Year Cumulative Returns

What are the long-term rolling returns for ATRC?

FIve years rolling returns for AtriCure.

Annualized Returns

Which funds bought or sold ATRC recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	91.15	299,217	554,217	-%
2023-03-06	Rockefeller Capital Management L.P.	added	15.01	25,000	108,000	-%
2023-02-28	Voya Investment Management LLC	reduced	-79.31	-2,525,950	775,052	-%
2023-02-24	SRS Capital Advisors, Inc.	unchanged	-	21.00	1,021	-%
2023-02-21	MACQUARIE GROUP LTD	added	1.00	7,768,000	61,065,000	0.07%
2023-02-17	TRUIST FINANCIAL CORP	reduced	-22.51	-126,372	914,628	-%
2023-02-16	CHARTWELL INVESTMENT PARTNERS, LLC	added	6.05	154,000	913,000	0.04%
2023-02-15	JANE STREET GROUP, LLC	added	13.11	140,741	637,741	-%
2023-02-15	MBM Wealth Consultants, LLC	new	-	3,000	3,000	-%
2023-02-15	Steward Partners Investment Advisory, LLC	sold off	-100	-1,000	-	-%

Latest Funds Activity

Are funds buying ATRC calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own ATRC

No. of Funds

AtriCure News

Schedule 13G FIlings of AtriCure

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	alliancebernstein l.p.	7.7%	3,565,726	SC 13G/A
Feb 14, 2023	alger associates inc	3.8%	1,755,398	SC 13G/A
Feb 09, 2023	vanguard group inc	9.44%	4,389,815	SC 13G/A
Feb 03, 2023	blackrock inc.	8.0%	3,735,766	SC 13G/A
Feb 03, 2023	invesco ltd.	7.2%	3,367,324	SC 13G/A
Feb 14, 2022	price t rowe associates inc /md/	4.2%	1,945,751	SC 13G/A
Feb 14, 2022	alliancebernstein l.p.	7.5%	3,455,856	SC 13G
Feb 14, 2022	alger associates inc	7.1%	3,240,847	SC 13G/A
Feb 09, 2022	vanguard group inc	9.22%	4,234,298	SC 13G/A
Feb 09, 2022	invesco ltd.	5.3%	2,437,617	SC 13G/A

ATRC Fair Value

AtriCure fair value in different scenarios

The table shows the Fair Value estimates for AtriCure for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	6.08 -84.55%	7.25 -81.58%	9.10 -76.87%	10.74 -72.71%	12.13 -69.17%
Current Inflation	5.77 -85.34%	6.78 -82.77%	8.34 -78.81%	9.71 -75.32%	10.87 -72.38%
Very High Inflation	5.39 -86.30%	6.21 -84.22%	7.43 -81.12%	8.51 -78.37%	9.42 -76.06%

Historical AtriCure Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of AtriCure

View All Filings

Date Filed	Form Type	Document
Mar 15, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading

Latest Insider Trading transactions for ATRC

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-13	Collar Mark A	acquired	93,000	9.3	10,000	-
2023-03-01	Privitera Salvatore	acquired	-	-	24,140	chief technical officer
2023-03-01	Yount Deborah Lee	acquired	-	-	12,239	chief human resources officer
2023-03-01	Wirick Angela L	sold (taxes)	-137,077	38.81	-3,532	chief financial officer
2023-03-01	Noznesky Justin J	sold (taxes)	-274,891	38.81	-7,083	chief mktg & strategy officer
2023-03-01	Seith Douglas J	acquired	-	-	42,507	chief operating officer
2023-03-01	Wirick Angela L	acquired	-	-	24,478	chief financial officer
2023-03-01	Seith Douglas J	sold (taxes)	-453,572	38.81	-11,687	chief operating officer
2023-03-01	Doraiswamy Vinayak	acquired	-	-	24,140	chief scientific officer
2023-03-01	Dahlquist Karl S.	sold (taxes)	-267,556	38.81	-6,894	chief legal officer

About AtriCure

Michael H. Carrel

www.atricure.com

880

AtriCure, 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.

ATRC Income Statement

2022-12-31

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 330,379	$ 274,329	$ 206,531
Cost of revenue	84,439	68,469	57,222
Gross profit	245,940	205,860	149,309
Operating expenses (benefit):
Research and development expenses	57,337	48,506	43,070
Selling, general and administrative expenses	231,272	204,649	150,829
Change in fair value of contingent consideration (Note 2)	0	(184,800)	(357)
Intangible asset impairment (Note 4)	0	82,300	0
Total operating expenses	288,609	150,655	193,542
(Loss) income from operations	(42,669)	55,205	(44,233)
Other income (expense):
Interest expense	(4,986)	(4,918)	(4,885)
Interest income	1,994	466	1,101
Other	(537)	(366)	(24)
(Loss) income before income tax expense	(46,198)	50,387	(48,041)
Income tax expense	268	188	114
Net (loss) income	$ (46,466)	$ 50,199	$ (48,155)
Basic net (loss) income per share (in usd per share)	$ (1.02)	$ 1.11	$ (1.14)
Diluted net (loss) income per share (in usd per share)	$ (1.02)	$ 1.09	$ (1.14)
Weighted average shares outstanding, basic (in shares)	45,740	45,066	42,125
Weighted average shares outstanding, diluted (in shares)	45,740	46,039	42,125
Comprehensive (loss) income:
Unrealized loss on investments	$ (2,811)	$ (941)	$ (46)
Foreign currency translation adjustment	(337)	(319)	516
Other comprehensive (loss) income	(3,148)	(1,260)	470
Net (loss) income	(46,466)	50,199	(48,155)
Comprehensive (loss) income, net of tax	$ (49,614)	$ 48,939	$ (47,685)

ATRC Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 58,099,000	$ 43,654,000
Short-term investments	63,014,000	75,436,000
Accounts receivable, less allowance for credit losses of $230 and $1,096	42,693,000	33,021,000
Inventories	45,931,000	38,964,000
Prepaid and other current assets	5,477,000	5,001,000
Total current assets	215,214,000	196,076,000
Assets, Noncurrent
Long-term investments	51,509,000	104,338,000
Property and equipment, net	38,833,000	31,409,000
Operating lease right-of-use assets	3,787,000	4,761,000
Intangible assets, net	39,339,000	42,992,000
Goodwill	234,781,000	234,781,000
Other noncurrent assets	1,985,000	955,000
Total Assets	585,448,000	615,312,000
Current liabilities:
Accounts payable	19,898,000	18,597,000
Accrued liabilities	33,022,000	36,092,000
Other current liabilities and current maturities of debt and leases	5,472,000	1,756,000
Total current liabilities	58,392,000	56,445,000
Long-term debt	56,834,000	59,741,000
Finance lease liabilities	9,147,000	10,082,000
Operating lease liabilities	3,095,000	4,068,000
Other noncurrent liabilities	1,226,000	1,220,000
Total Liabilities	128,694,000	131,556,000
Commitments and contingencies (Note 10)
Stockholders’ Equity:
Common stock, $0.001 par value, 90,000 shares authorized; 46,563 and 46,016 issued and outstanding	47,000	46,000
Additional paid-in capital	787,422,000	764,811,000
Accumulated other comprehensive loss	(4,096,000)	(948,000)
Accumulated deficit	(326,619,000)	(280,153,000)
Total Stockholders’ Equity	456,754,000	483,756,000
Total Liabilities and Stockholders’ Equity	$ 585,448,000	$ 615,312,000