Business
AtriCure Reports Second Quarter 2023 Financial Results
Worldwide revenue of $100.9 million – an increase of 19.4% year over year U.S. revenue of $84.9 million – an increase of 19.1% year over year International
About this update from Atricure, Inc.
[{"type":"text","content":"\n\nWorldwide revenue of $100.9 million – an increase of 19.4% year over year\n\n\n\nU.S. revenue of $84.9 million – an increase of 19.1% year over year\n\n\n\nInternational revenue of $16.0 million – an increase of 20.7% year over year\n\n\n\nNet loss of $5.1 million – an improvement of $9.7 million year over year\n\n\n\nPositive adjusted EBITDA of $8.0 million – an improvement of $11.2 million year over year\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 second quarter 2023 financial results.\n\n\n“We are proud to report an exceptional quarter at AtriCure, highlighted by robust worldwide growth and meaningful operating leverage. Our performance showcases the breadth of opportunities that exist in our business and an unwavering commitment from our team to raise patient impact,” said Michael Carrel, President, and Chief Executive Officer at AtriCure. “As we execute the second half of 2023, we remain focused on the expansion of our markets and continued advancement of clinical science and innovation.”\n\n\nSecond Quarter 2023 Financial Results\n\n\nRevenue for the second quarter 2023 was $100.9 million, an increase of 19.4% (an increase of 19.3% on a constant currency basis) over second quarter 2022 revenue. U.S. revenue was $84.9 million, an increase of $13.6 million or 19.1%, compared to the second quarter 2022. U.S. revenue growth was driven by sales in all key product lines, highlighted by sales of the EnCompass® clamp in open ablation, cryoSPHERE® probe for post-operative pain management and the AtriClip® Flex·V® device in appendage management. International revenue increased $2.8 million or 20.7% (an increase of 19.9% on a constant currency basis) to $16.0 million, across all franchises and geographic regions. On a sequential basis, worldwide revenue for the second quarter 2023 increased approximately 7.9% from first quarter 2023.\n\n\nGross profit for the second quarter 2023 was $77.1 million compared to $63.5 million for the second quarter 2022. Gross margin was 76.4% for the second quarter 2023, showing improvement of 130 basis points from the second quarter 2022, with the current quarter reflecting leverage of our opera...