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AtriCure Reports Preliminary Results for Fourth Quarter and Full Year 2023, Provides Financial Outlook for 2024
MASON, Ohio--(BUSINESS WIRE)-- AtriCure, Inc. (Nasdaq: ATRC), a leading innovator in surgical treatments and therapies for atrial fibrillation (Afib), left
About this update from Atricure, Inc.
[{"type":"text","content":" 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, announced preliminary financial results for the fourth quarter and full year 2023 and provided 2024 financial guidance.\n\n\nPreliminary, unaudited revenue for fourth quarter 2023 is expected to be $106.5 million, reflecting growth of approximately 21% over the fourth quarter of 2022 (20% on a constant currency basis). U.S. revenue is expected to be $88.7 million, reflecting growth of approximately 20%, and international revenue is expected to be $17.8 million, an increase of approximately 26% as reported (22% on a constant currency basis). Fourth quarter revenue was driven by strong growth in Hybrid AF™ therapy, followed by sales of our AtriClip®, Encompass®, and cryoSPHERE® devices.\n\n\nPreliminary, unaudited revenue for full year 2023 is expected to be $399.2 million, reflecting growth of approximately 21% over full year 2022 (21% on a constant currency basis). As previously communicated, management expects full year 2023 positive adjusted EBITDA of approximately $18 million to $20 million, and full year 2023 adjusted loss per share of approximately $0.74 to $0.76. Adjusted EBITDA, adjusted loss per share and constant currency revenue growth are non-GAAP measures. AtriCure will provide a reconciliation of non-GAAP measures to the related GAAP measure in the release of audited 2023 results.\n\n\n“Our fourth quarter 2023 results complete an exceptional year at AtriCure, as we extend our impact on patients globally,” said Michael Carrel, President and Chief Executive Officer of AtriCure. “We continue to see substantial opportunities in each of our markets and are well positioned to deliver robust growth and increasing operating leverage in 2024 and beyond.”\n\n\n2024 Financial Guidance\n\n\nManagement projects 2024 revenue of approximately $459 million to $466 million, reflecting growth of approximately 15% to 17% over full year 2023. Management also projects full year 2024 positive adjusted EBITDA of approximately $26 million to $29 million, with improvements annually thereafter.\n\n\nAbout AtriCure\n\n\nAtriCure, Inc. provides innovative technologies for the treatment of Afib and related conditions. Af...