Business
AtriCure Reports Second Quarter 2020 Financial Results
Worldwide revenue of $40.8 million – a decrease of 30.7% year over year U.S. revenue of $33.7 million – a decrease of 28.6% year over year International
About this update from Atricure, Inc.
[{"type":"text","content":"\n\nWorldwide revenue of $40.8 million – a decrease of 30.7% year over year\n\n\nU.S. revenue of $33.7 million – a decrease of 28.6% year over year\n\n\nInternational revenue of $7.1 million – a decrease of 39.0% year over year\n\n\n MASON, Ohio--(BUSINESS WIRE)--\nAtriCure, Inc. (Nasdaq: ATRC), a leading innovator in treatments for atrial fibrillation (Afib) and left atrial appendage (LAA) management, today announced second quarter 2020 financial results.\n\n\n“Amidst tremendous uncertainty in this challenging environment, our team at AtriCure has shown both resiliency and leadership without missing a beat. We are continuing to support our clinician partners in creative and evolving ways while maintaining our patient-first culture,” said Michael Carrel, President and Chief Executive Officer of AtriCure. “We are pleased by our second quarter results, which as expected, experienced a trough in April, then a rapid return in May, followed by steady volumes through June. In addition, we achieved significant milestones on our strategic initiatives with the release of the CONVERGE clinical trial data in May as well as further progress on aMAZE, continued success with Cryo Nerve Block, and ongoing training and education programs.”\n\n\nMr. Carrel continued, “While we are encouraged by the improvement in our business throughout the second quarter, we have begun to experience more regional variability and procedure slowdowns in July in response to the recent resurgence of COVID-19 cases and related restrictions. Despite the continued uncertainty, as we look forward, we are extremely confident about our future. We were able to strengthen our balance sheet this quarter, allowing us to continue to invest in our people as well as our pillars to ensure that AtriCure is well positioned for durable growth over the next several years with a robust pipeline of clinical and product innovation.”\n\n\nSecond Quarter 2020 Financial Results\n\n\nRevenue for the second quarter of 2020 was $40.8 million, a decrease of $18.1 million or 30.7% (a decrease of 30.6% on a constant currency basis), compared to second quarter 2019 revenue. U.S. revenue decreased 28.6% to $33.7 million, and international revenue decreased 39.0% to $7.1 million, (a decrease of 38.5% on a constant currency basis), compared to second quarter 2019 revenue.\n\n\nGross profit for the ...