Atricure, Inc. ( (ATRC) ) has realeased its Q3 earnings. Here is a breakdown of the information Atricure, Inc. presented to its investors.
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AtriCure, Inc. is a leading company in the medical technology sector, specializing in innovative surgical treatments for atrial fibrillation, left atrial appendage management, and post-operative pain management. The company has reported its financial results for the third quarter of 2024, showcasing robust growth in revenue and profitability.
In its latest earnings report, AtriCure announced a worldwide revenue of $115.9 million for the third quarter of 2024, reflecting a 17.9% year-over-year increase. This growth was driven by strong demand for its surgical devices across the U.S. and international markets, with U.S. revenue growing by 16.8% and international revenue by 23.3%. The company also achieved positive cash flow generation of $16.3 million during the quarter.
Key financial metrics highlighted include a gross profit of $86.8 million, an increase from $73.9 million in the same quarter of the previous year, but a slight decrease in gross margin due to less favorable geographic and product mix. Despite a net loss of $7.9 million, the company improved its adjusted EBITDA to $7.9 million, up $3.2 million from the previous year, indicating better operational efficiency.
Looking ahead, AtriCure remains optimistic about its financial prospects, projecting full-year 2024 revenue to be between $459 million and $462 million, which represents a growth of approximately 15% to 16%. The company also anticipates continued improvements in adjusted EBITDA, signaling a positive trajectory for future profitability and sustained growth in the medical technology market.
