Business
AtriCure Reports Fourth Quarter 2024 and Full Year 2024 Financial Results
Fourth Quarter 2024 Worldwide revenue of $124.3 million – an increase of 16.6% year over year Full Year 2024 Worldwide revenue of $465.3 million – an
About this update from Atricure, Inc.
[{"type":"text","content":"\n\nFourth Quarter 2024 Worldwide revenue of $124.3 million – an increase of 16.6% year over year\n\n\n\nFull Year 2024 Worldwide revenue of $465.3 million – an increase of 16.5% year over year\n\n\n\nLaunched cryoSPHERE®+, cryoSPHERE MAX™ and AtriClip® FLEX-Mini™ devices in the United States, and EnCompass® clamp in Europe\n\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 2024 and full year 2024 financial results.\n\n\n“2024 was another outstanding year at AtriCure, marked by continued progress on driving growth, improving profitability, and the introduction of several meaningful product launches across our key franchises,” said Michael Carrel, President and Chief Executive Officer at AtriCure. “With the breadth and performance of our business, I am optimistic for the future of AtriCure and look forward to sharing our pipeline and financial outlook at our Analyst and Investor Day in March.”\n\n\nFourth Quarter 2024 Financial Results\n\n\nRevenue for the fourth quarter 2024 was $124.3 million, an increase of 16.6% (an increase of 16.7% on a constant currency basis) over fourth quarter 2023 revenue, reflecting growth across the business globally, partially offset by declines in our U.S. minimally invasive devices. U.S. revenue was $101.6 million, an increase of $12.8 million or 14.4%, compared to fourth quarter 2023 revenue. U.S. revenue growth was driven by sales of our cryoSPHERE® probes for pain management, AtriClip® Flex⋅V® devices in appendage management and the EnCompass® clamp in open ablation. International revenue increased $4.9 million or 27.7% (an increase of 28.1% on a constant currency basis) to $22.7 million, reflecting growth across all franchises and major geographic regions.\n\n\nGross profit for the fourth quarter 2024 was $92.6 million compared to $79.8 million for the fourth quarter 2023. Gross margin was 74.5% and 74.9% for the fourth quarters 2024 and 2023, reflecting changes in product and geographic mix, as well as product costs. Loss from operations for the fourth quarter 2024 was $14.5 million, compared to $8.7 million for the fourth quarter 2023, driven by the $12 million payment for the acq...