AtriCure, Inc. has recently released its 10-K report, revealing a company that develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers a range of products, including Isolator Synergy Clamps, single-use disposable radio frequency products, and cryoICE Cryoablation System, among others. AtriCure markets and sells its products through independent distributors and direct sales personnel.
The 10-K report provides insights into the company's financial condition and results of operations. AtriCure reported worldwide revenues for the year ended December 31, 2024, of $465,307, representing an increase of 16.5% over the prior year. The company experienced growth in all key product lines, with international revenue increasing by 25.6% and total revenue increasing by 16.5% on a constant currency basis. The report also highlighted strategic and operational advancements in 2024, including product innovation, clinical science, and physician education and training.
In terms of financial performance, AtriCure reported a gross profit of $347,524, representing a gross margin of 74.7%. The company's operating expenses, including research and development expenses and selling, general, and administrative expenses, totaled $387,537. AtriCure reported a loss from operations of $40,013, and a net loss of $44,698 for the year ended December 31, 2024.
The report also provided an overview of the company's liquidity and capital resources. As of December 31, 2024, AtriCure had cash and cash equivalents of $122,721 and unused borrowing capacity of approximately $61,885 under its existing credit agreement. The company had net working capital of $194,402 and an accumulated deficit of $401,755 as of December 31, 2024.
As a result of these announcements, the company's shares have moved 3.0% on the market, and are now trading at a price of $40.78. For more information, read the company's full 10-K submission here.
