Business
AtriCure Reports Third Quarter 2024 Financial Results
Worldwide revenue of $115.9 million – an increase of 17.9% year over year U.S. revenue of $95.5 million – an increase of 16.8% year over year Achieved 20%
About this update from Atricure, Inc.
[{"type":"text","content":"\n\nWorldwide revenue of $115.9 million – an increase of 17.9% year over year\n\n\nU.S. revenue of $95.5 million – an increase of 16.8% year over year\n\n\nAchieved 20% growth on revenues from open appendage management devices in the U.S.\n\n\nInternational revenue of $20.5 million – an increase of 23.3% year over year\n\n\nPositive cash flow generation of $16.3 million in third quarter 2024\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 third quarter 2024 financial results.\n\n“Our broad-based growth in the third quarter reflects strong, ongoing adoption trends throughout our business,” said Michael Carrel, President and Chief Executive Officer at AtriCure. “During the quarter, we launched several new products in the United States and Europe, leading to an acceleration in growth along with continued improvement in profitability and positive cash flow generation. Our results are a testament to our commitment to expand access to our innovative solutions for patients and providers worldwide.”\n\nThird Quarter 2024 Financial Results\n\nRevenue for the third quarter 2024 was $115.9 million, an increase of 17.9% over third quarter 2023 revenue (17.8% on a constant currency basis), reflecting continued adoption of our products by physicians globally for the treatment of patients with Afib, LAA management and post-operative pain management. On a sequential basis, worldwide revenue for the third quarter 2024 decreased approximately 0.3% from the second quarter 2024 due to normal seasonality of procedures in summer months.\n\nU.S. revenue was $95.5 million, an increase of $13.8 million or 16.8%, compared to the third quarter 2023. U.S. revenue growth was driven by sales across key product lines, including the ENCOMPASS® clamp in open ablation, AtriClip® Flex·V® device in appendage management and cryoSPHERE® probes for post-operative pain management. International revenue increased $3.9 million or 23.3% (22.4% on a constant currency basis) to $20.5 million, realizing significant growth across all franchises in Europe and most of our other major geographic regions.\n\nGross profit for the third quarter 2024 was $86.8 million compared to $73....