Atricure, Inc. · NASDAQ:ATRC
Atricure — Investor Presentation (January 2020)
25 slides from Atricure's investor presentation, Jan 13, 2020
Slide 1: AtriCure Investor Presentation: Creating a World Class Afib Platform
AtriCure Investor Presentation Creating a World Class Afib Platform January 2020 © 2020 AtriCure, Inc. All rights reserved. AtriCure 1
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains “forward-looking statements,” which are statements related to future events that by their nature address matters that are uncertain. All forward-looking information is inherently uncertain and actual results may differ materially from assumptions
Slide 3: AtriCure Overview
AtriCure Overview Large Markets Addressing an underserved and growing patient population Approximately 33 million Afib patients globally, with majority having advanced forms of the disease Current standard of care does not adequately address this population Strong Portfolio Existing products and sol
Slide 4: Afib: a Serious and Costly Problem
Afib: a Serious and Costly Problem Atrial Fibrillation (Afib) is an irregular heartbeat (or arrhythmia) that affects more than 33 million people worldwide. Approximately 1.2 million Afib diagnoses annually in the US. Afib leads to: Total annual cost to US Healthcare $26B Higher medical costs 73% Ann
Slide 5: Two Distinct Patient Profiles
Two Distinct Patient Profiles Referring Physician: GP, Cardiologist STRUCTURAL HEART ISSUE Surgery required – Afib corrected at same time (Valve, CABG) GUIDELINES Surgical Ablation is RECOMMENDED LAA management is REASONABLE Concomitant Open Procedures (Ablation/ LAAM) NO STRUCTURAL ISSUE Afib is pr
Slide 6: Significant Market Opportunity
Significant Market Opportunity US Standalone Market: Expanding Growth More than 150k Afib patients annually Vastly underpenetrated and increasing market (estimating 10-15% market expansion) Multiple approaches to treatment Convergent + AtriClip, DEEP, LARIAT® US Concomitant Markets: Steady Growth Ca
Slide 7: Strong Financial Performance
Strong Financial Performance Worldwide Revenue ($ Millions) $250 $200 $150 $100 $50 $0 2015 $129.8 2016 $155.1 2017 $174.7 2018 $201.6 2019 $230.8 Revenue Growth 20.8% 19.5% 12.6% 15.4% 14%1 Gross Margin 71.6% 71.6% 72.2% 73.0% 73-74%2 Consistent Revenue Growth 29 consecutive quarters of double-digi
Slide 8: Innovative and Expanding Product Portfolio
Innovative and Expanding Product Portfolio Ablation ISOLATOR® SYNERGY™ CLAMP cryoICE® CRYOABLATION PROBE EPI-SENSE® DEVICE cryoSPHERE™ CRYOABLATION PROBE 2020 Product Launch: ISOLATOR® SYNERGY™ ENCOMPASS™ CLAMP 2000 to 2015: Foundation in surgical Afib tools Future pipeline expansion across franchis
Slide 9: SPOTLIGHT: Cryo Nerve Block for Pain Management
SPOTLIGHT: Cryo Nerve Block for Pain Management Therapy Overview Long-lasting pain management therapy, designed for use in thoracic surgical procedures Temporarily stops the transmission of pain signals coming from the chest wall during surgery Nerve “scaffolds” remain intact allowing axons to regen
Slide 10: Advancing Clinical Outcomes
Advancing Clinical Outcomes Multiple studies to generate clinical evidence and expand indications Trial/Study Description Status CONVERGE Pivotal Designed to support FDA approval of EPi-Sense device specifically for the treatment of persistent Afib through an abdominal approach Final PMA module subm
Slide 11: CONVERGE Overview
CONVERGE Overview SUPERIORITY TRIAL designed to support FDA approval of EPi-Sense device specifically for the treatment of persistent Afib STUDY DESIGN Summary Multi-center, prospective, open label randomized 2:1 (Convergent procedure vs endocardial catheter ablation) pivotal study Number of Subject
Slide 12: aMAZE Overview
aMAZE Overview SUPERIORITY TRIAL designed to evaluate safety and effectiveness of the LARIAT System to percutaneously isolate and ligate the Left Atrial Appendage for the treatment of persistent or longstanding persistent Afib STUDY DESIGN Study is conducted in two stages: Limited Early Stage (Stage
Slide 13: US Commercial Organization
US Commercial Organization Aligning Expertise with Opportunity Commercial Headcount Shifting headcount growth from Sales Managers to Clinical Specialists Managers build relationships, broaden adoption Specialists provide case coverage Improving productivity and leverage Dedicated MIS and cryoNB team
Slide 14: An Exciting Future
An Exciting Future ATRICURE PILLARS Foundation of our past and strengthening our future Innovation Significant growth from AtriClip devices and cryoSPHERE probe Expanding pipeline to drive Open ablation penetration and build MIS market Clinical Science First and only PMA approved device for surgical
Slide 15: AtriCure Highlights
AtriCure Highlights Creating a world class Afib platform Large Markets Addressing an underserved and growing patient population Large, vastly underpenetrated markets: over $3B annually US market opportunity in excess of $2B International market opportunity in excess of $1B Current standard of care i
Slide 16: Thank You!
Thank You! © 2020 AtriCure, Inc. All rights reserved. AtriCure 16
Slide 17: Supplemental Information
Supplemental Information Note that citations/references for any comments, statistics, or figures in this presentation are available upon request. © 2020 AtriCure, Inc. All rights reserved. AtriCure 17
Slide 18: Q4 2019 Highlights
Q4 2019 Highlights Worldwide revenue of $61.3 million – growth of 16% over Q4 2018 29th consecutive quarter of double-digit growth! Appendage Management continued to be our fastest growing business at 33% worldwide revenue growth year over year Completed enrollment in aMAZE Pivotal Trial 600th patie
Slide 19: US Concomitant Market Opportunity
US Concomitant Market Opportunity Estimated Afib Opportunity in Cardiac Surgery Annual Cardiac Surgeries 300,000 Pre-Operative Afib Rate ~28% Cardiac Opportunity – Pre-Op Afib 85,000 ASP Mix (Ablation and Appendage Management) $4,500 Open Cardiac Surgery Opportunity – Afib $382M Estimated Non-Afib O
Slide 20: US Standalone Market Opportunity
US Standalone Market Opportunity Estimated Standalone Afib Opportunity Paroxysmal Afib Catheter Ablation 100,000 Failed Paroxysmal Afib Catheter Ablation (30%) 30,000 Persistent/Longstanding Persistent Afib Catheter Ablation 56,000 ASP Mix (Ablation + Appendage Management) $18,500 Standalone Afib Op
Slide 21: Advancing Surgical Ablation Guidelines
Advancing Surgical Ablation Guidelines SOCIETIES The Society of Thoracic Surgeons American College of Cardiology American Heart Association ESC European Society of Cardiology Heart Rhythm Society COR LOE I A I B I C IIa A IIa B IIa C IIb A IIb B IIb C Considered Reasonable Recommended No Guidelines
Slide 22: Guidelines to Fuel Adoption
Guidelines to Fuel Adoption 2017 STS Guidelines Applies to ALL-COMER Afib patients; previously only “symptomatic patients refractory or intolerant to at least one AAD” Surgical Ablation is RECOMMENDED not just reasonable; it doesn’t increase operative risk LAA Management is mentioned for the first t
Slide 23: The CONVERGENT Approach
The CONVERGENT Approach PA Aorta SVC RA IVC LV LPV Endocardial Lesions Epicardial Lesions © 2020 AtriCure, Inc. All rights reserved. AtriCure 23
Slide 24: The LARIAT Procedure
The LARIAT Procedure 1 Access: Routine percutaneous techniques for pericardial and transseptal access are performed using fluoroscopy and transesophageal echocardiography. 2 Delivery: Two magnet-tipped guidewires (FindrWIRZ) are attached to stabilize the LAA with minimal trauma and manipulation for
Slide 25: The Cox-Maze IV Procedure
The Cox-Maze IV Procedure Left Atrial Appendage Coronary Sinus Mitral Annulus Circumflex Coronary Artery SVC IVC Right Atrial Appendage Right Coronary Artery Triscuspid Annulus Bipolar RF Clamp Surgical Incision Cryo-Endocardial Cryo-Epicardial © 2020 AtriCure, Inc. All rights reserved. AtriCure 25