AtriCure Inc (NAS:ATRC)
$ 36.63 -1.57 (-4.11%) Market Cap: 1.79 Bil Enterprise Value: 1.81 Bil PE Ratio: 0 PB Ratio: 3.84 GF Score: 78/100
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Q3 2024 AtriCure Inc Earnings Call Transcript

Oct 29, 2024 / 08:30 PM GMT
Release Date Price: $29.43 (+2.37%)

Key Points

Positve
  • AtriCure Inc (ATRC) reported strong third-quarter revenue growth of 18%, reaching $116 million, driven by broad-based demand across its product portfolio.
  • The company achieved positive adjusted EBITDA of nearly $8 million and generated over $16 million in positive cash flow for the second consecutive quarter.
  • AtriCure Inc (ATRC) raised its full-year 2024 revenue guidance to a range of $459 million to $462 million, reflecting 15% to 16% growth over 2023.
  • The pain management franchise saw a 36% worldwide growth, with the cryoSPHERE+ probe contributing significantly to sales.
  • The appendage management franchise achieved 18% worldwide revenue growth, with the AtriClip devices reaching over 600,000 units sold life to date.
Negative
  • The gross margin decreased by 27 basis points from the third quarter of 2023, primarily due to less favorable geographic and product mix.
  • There is pressure on the pace of minimally invasive ablation and MIS AtriClip growth in the US due to increased physician focus on PFA.
  • Operating expenses increased by 14.9% from the third quarter of 2023, driven by personnel, travel costs, and one-time consulting costs.
  • The company anticipates a cash charge of $12 million in the fourth quarter related to its PFA technology development, impacting cash flow.
  • Despite strong growth, the company continues to experience challenges in expanding the adoption of hybrid AF therapy.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ATRC.OQ - AtriCure Inc
Q3 2024 AtriCure Inc Earnings Call
Oct 29, 2024 / 08:30PM GMT

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Conference Call Participants
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* Marissa Bych
Gilmartin Group - Investor Relations
* Michael Carrel
AtriCure Inc - President, Chief Executive Officer, Director
* Angela Wirick
AtriCure Inc - Chief Financial Officer
* William Plovanic
Canaccord Genuity - Analyst
* Marie Marie
BTIG - Analyst
* Mike Matson
Needham & Company Inc. - Analyst
* Danielle Antalffy
UBS Equities - Analyst
* Suraj Kalia
Oppenheimer & Co., Inc. - Analyst

=====================
Presentation
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Operator [1]
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Good afternoon, and welcome to AtriCure's third-quarter 2024 earnings conference call. (Operator Instructions)

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