Business
AtriCure Reports Fourth Quarter 2022 and Full Year 2022 Financial Results
2022 Worldwide revenue of $330.4 million – an increase of 20.4% year over year 2022 U.S. revenue of $277.2 million – an increase of 21.0% year over year 2022
About this update from Atricure, Inc.
[{"type":"text","content":"\n\n2022 Worldwide revenue of $330.4 million – an increase of 20.4% year over year\n\n\n2022 U.S. revenue of $277.2 million – an increase of 21.0% year over year\n\n\n2022 International revenue of $53.2 million – an increase of 17.7% in 2022\n\n\n MASON, Ohio--(BUSINESS WIRE)--\nAtriCure, Inc. (Nasdaq: ATRC), a leading innovator in surgical treatments and therapies for atrial fibrillation (Afib), left atrial appendage (LAA) management and post-operative pain management, today announced fourth quarter 2022 and full year 2022 financial results.\n\n“We delivered another outstanding year of growth in 2022, as we expanded adoption across our broad portfolio of solutions. I am incredibly proud of the dedication of our team to our mission of improving patient lives, which led to an impact on over 100,000 patients around the globe in 2022,” said Michael Carrel, President and Chief Executive Officer of AtriCure. “We begin 2023 with an unrelenting determination to execute against the significant market opportunities in front of us while also achieving operating leverage, building upon the foundation we have created over the last decade with a long-term, growth mindset.”\n\nFourth Quarter 2022 Financial Results\n\nRevenue for the fourth quarter 2022 was $88.0 million, an increase of 20.2% (an increase of 21.5% on a constant currency basis) over fourth quarter 2021 revenue. U.S. revenue was $73.9 million, an increase of $12.7 million or 20.7%, compared to fourth quarter 2021 revenue. U.S. revenue reflected strong growth across our open ablation, pain management and appendage management product lines, driven by sales of our EnCompass® clamp, cryoSPHERE® and AtriClip® Flex⋅V® products. International revenue increased $2.1 million or 17.8% (an increase of 25.4% on a constant currency basis) to $14.1 million, reflecting growth in appendage management and open ablation franchises. On a sequential basis, worldwide revenue for the fourth quarter 2022 increased approximately 5.7% over third quarter 2022.\n\nGross profit for the fourth quarter 2022 was $65.1 million compared to $55.0 million for the fourth quarter 2021. Gross margin was 74.0% and 75.1% for the fourth quarters 2022 and 2021, reflecting changes in product and geographic mix, as well as inflationary pressure. Loss from operations for the fourth quarter 2022 was $4.1 million, compared t...