Atricure, Inc. · NASDAQ:ATRC
Atricure — Investor Presentation (August 2022)
33 slides from Atricure's investor presentation, Aug 2, 2022
Slide 1: Creating a World Class Afib Platform
Creating a World Class Afib Platform AUGUST 2022 © 2022 AtriCure, Inc. All rights reserved. INVESTOR PRESENTATION Exhibit 99.2
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation and oral statements made in connection with this presentation contain “forward-looking statements,” which are statements related to future events that by their nature address matters that are uncertain. Forward-looking statements address, among other thin
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures To supplement AtriCure’s condensed consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, AtriCure provides certain non-GAAP financial measures as supplemental financial metrics in t
Slide 4: Large Markets, Strong Portfolio, Bright Future
Large Markets Addressing an underserved and growing patient population Strong Portfolio Existing products and solutions driving consistent growth Bright Future Novel therapies supported by growing body of clinical evidence We are passionately focused on reducing the global Afib epidemic and healing
Slide 5: Afib: A Serious Problem
Afib: A Serious Problem © 2022 AtriCure, Inc. All rights reserved. 5 5x Higher Risk of Stroke4 >5x Higher Risk of Heart Failure6 46% Greater Risk of Mortality5 Atrial Fibrillation (Afib) is an irregular heartbeat (or arrhythmia) that affects more than 33 million people worldwide.1 ~1.2M Afib diagnos
Slide 6: Significant Global Market Opportunity
Significant Global Market Opportunity © 2022 AtriCure, Inc. All rights reserved. • Penetration of large markets first • Expand product availability • Improve market access via reimbursement • Continued build of dedicated sales and training expertise • Continued build of dedicated sales and training
Slide 7: Two Distinct Patient Profiles
Standalone Hybrid Procedures (Ablation/LAAM) No Structural Issue Afib is primary concern Two Distinct Patient Profiles © 2022 AtriCure, Inc. All rights reserved. Intervention is better choice Medicine is effective PAROXYSMAL (occasional) LONG-STANDING PERSISTENTPERSISTENT Referring Physician: GP, Ca
Slide 8: US Market Opportunity
$350M Pain Management Procedures (Ablation) $700-800M Concomitant Open Procedures (Ablation/LAAM) US Market Opportunity © 2022 AtriCure, Inc. All rights reserved. Steady Growth in Penetration of Cardiac Surgery Market • ~300k total patients (Afib, non-Afib) with structural heart issue • Only PMA pro
Slide 9: AtriCure: A Decade of Progress
• Maze IV Training Program initiated; Advanced Ablation Courses endorsed by the Society of Thoracic Surgeons (STS) • Continued innovation in AtriClip platform • Guidelines recommend Afib ablation treatment and state management of LAA reasonable • Expansion of AtriClip labeling with electrical isolat
Slide 10: 2022 Priorities: Driving Therapy Expansion
Standalone Hybrid Procedures Concomitant Open Procedures Pain Management 2022 Priorities: Driving Therapy Expansion © 2022 AtriCure, Inc. All rights reserved. Initiate clinical trial for LAAM in cardiac surgery (LeAAPS) Launch EnCompass Clamp in U.S. Grow commercial team and awareness globally Train
Slide 11: CONVERGE: Long-standing Persistent Afib Patient Analysis
66% 61% 37% 26% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 12 months 18 months Convergent Catheter Ablation • Superior outcomes with hybrid Convergent procedure when compared to endocardial catheter ablation alone in patients with drug refractory long-standing persistent Afib • Data for long-standi
Slide 12: Benefits of the EPi-Sense System and Hybrid AF Therapy
Benefits of the EPi-Sense System and Hybrid AF Therapy Benefits based on 7-day continuous rhythm monitoring at 18-months post procedure © 2022 AtriCure, Inc. All rights reserved. ≥90% LESS TIME IN AF For most patients at 1 year Epicardial: Outside the heart Endocardial: Inside the heart 2 TRIGGER AR
Slide 13: Commercial Strategy for the EPi-Sense System
Commercial Strategy for the EPi-Sense System © 2022 AtriCure, Inc. All rights reserved. Build Train and develop programs, build referral channel Amplify Spread awareness of Hybrid AF Therapy to patients Leverage Add AtriClip to Hybrid AF Therapy Expand Grow commercial + training teams, broaden inter
Slide 14: Innovative and Expanding Product Portfolio
Innovative and Expanding Product Portfolio © 2022 AtriCure, Inc. All rights reserved. Ablation LAA Management EPI-SENSE® DEVICE ATRICLIP PRO•V® DEVICE ATRICLIP FLEX•V® DEVICE cryoICE® CRYOABLATION PROBE ISOLATOR® SYNERGY™ CLAMP ATRICLIP® FLEX DEVICE ATRICLIP PRO® DEVICE cryoSPHERE® CRYOABLATION PROB
Slide 15: Spotlight: Cryo Nerve Block for Pain Management
© 2022 AtriCure, Inc. All rights reserved. Spotlight: Cryo Nerve Block for Pain Management Highlights • Dedicated commercial team established (2019) and expanding • Launch of cryoSPHERE® probe in US (Q1 2019) • Label expansion includes adolescent patients as young as 12 years of age • Europe launch
Slide 16: Spotlight: Isolator Synergy EnCompass Clamp
© 2022 AtriCure, Inc. All rights reserved. Spotlight: Isolator Synergy EnCompass® Clamp Highlights • FDA 510(k) clearance in July 2021 • Broad commercial launch in U.S. April 2022 • Continue to drive penetration of cardiac surgery market Product Overview • FDA 510(k) clearance to ablate cardiac tiss
Slide 17: HEAL-IST IDE Trial
IDE Trial to support safety and efficacy of hybrid sinus node sparing ablation procedure for the treatment of IST © 2022 AtriCure, Inc. All rights reserved. HEAL-IST Overview Primary Endpoints Effectiveness Freedom from IST at 12-months. Freedom from IST is defined as mean heart rate of ≤ 90bpm or a
Slide 18: LeAAPS IDE Trial
IDE Trial to evaluate the effectiveness of prophylactic LAA exclusion for the prevention of ischemic stroke or systemic arterial embolism in cardiac surgery patients without pre-operative AF diagnosis © 2022 AtriCure, Inc. All rights reserved. LeAAPS Overview Primary Endpoints Effectiveness First oc
Slide 19: AtriCure Pillars
BBB AtriCure Pillars Foundation of our past + Strengthening our future INNOVATION Increasing pipeline to drive LAAM penetration and build MIS market Aligning Expertise and Opportunity Dedicated Commercial + Education Teams U.S. CARDIAC 130+ Sales + Clinical Specialists U.S. HYBRID THERAPIES 50+ Sale
Slide 20: History of Strong Growth
History of Strong Growth © 2022 AtriCure, Inc. All rights reserved. History of Consistent Revenue Growth 5-Year historical organic revenue CAGRs (pre-COVID-19) **Based on midpoint of 2022 Revenue guidance range 2022 Revenue Guidance Updated August 2022 Revenue ($ Millions) COVID19 IMPACT Acceleratin
Slide 21: Second Quarter 2022 Financial Highlights
Second Quarter 2022 Financial Highlights © 2022 AtriCure, Inc. All rights reserved. Key Metrics*Worldwide Revenue* ($M) • Strong activity and growing demand across key product lines demonstrating our many growth catalysts • U.S. revenue of $71.3M (84% of revenue) • International revenue of $13.3M (1
Slide 22: Exciting Future Ahead
Exciting Future Ahead © 2022 AtriCure, Inc. All rights reserved. 22 Accelerating Growth in EP Landscape Hybrid AF Therapy Expanding With Pain Management Cryo Nerve Block Comprehensive Platform of Therapies for differentiated population of Afib patients Surgical Ablation + AtriClip
Slide 23: Thank You!
Thank You! © 2022 AtriCure, Inc. All rights reserved.
Slide 24: Supplemental Information
Supplemental Information © 2022 AtriCure, Inc. All rights reserved. References for any comments, statistics, or figures in this presentation are available upon request.
Slide 25: Change in Revenue Presentation
Change in Revenue Presentation © 2022 AtriCure, Inc. All rights reserved. Three Months Ended (in $000s) March 31, 2021 June 30, 2021 September 30, 2021 December 31, 2021 United States Revenue: Open ablation $17,439 $19,503 $17,893 $17,561 Minimally invasive ablation 8,385 9,702 9,990 11,303 Pain man
Slide 26: Key Investment Rationale
Key Investment Rationale © 2022 AtriCure, Inc. All rights reserved. • Approximately 33 million Atrial Fibrillation patients globally, with majority having advanced forms of the disease1 • Multibillion dollar annual market opportunity • Current standard of care for intervention (catheter ablation) do
Slide 27: COVID-19 Response
© 2022 AtriCure, Inc. All rights reserved. COVID-19 Response Positioning AtriCure for long-term growth • Maintaining manufacturing, assembly, fulfillment – modified to adhere to safety recommendations • Continuing case coverage support • Utilizing online and mobile training venues to educate our cus
Slide 28: US Concomitant Market Opportunity
• US annual cardiac surgery volume steady over the past 5 years with shifts in procedure types10 • Pre-Op Afib occurs frequently in cardiac surgery patients11 • New onset Post-Op Afib is a well- documented complication of cardiac surgery, even if patients do not present with pre-op Afib12 © 2022 Atr
Slide 29: US Standalone Market Opportunity
© 2022 AtriCure, Inc. All rights reserved. US Standalone Market Opportunity Market opportunity in analysis at right considers: • Addition of ablation and LAAM to existing catheter ablation procedures − Catheter ablation procedures have grown 10-15% annually15 • Incremental penetration of advanced Af
Slide 30: CONVERGE Superiority Trial Overview
SUPERIORITY TRIAL designed to support FDA approval of the EPi-Sense device © 2022 AtriCure, Inc. All rights reserved. CONVERGE Overview Primary Endpoints Effectiveness Primary efficacy endpoint is success or failure to be AF/AT/AFL-free absent class I and III AADs except for a previously failed or i
Slide 31: Hybrid AF Therapy: The Convergent Procedure
Hybrid AF Therapy: The Convergent Procedure © 2022 AtriCure, Inc. All rights reserved. 31
Slide 32: The Cox-Maze IV Procedure
The Cox-Maze IV Procedure © 2022 AtriCure, Inc. All rights reserved. 32
Slide 33: References and Abbreviations
References and Abbreviations © 2022 AtriCure, Inc. All rights reserved. Note Reference 1 Worldwide Epidemiology of Atrial Fibrillation: A Global Burden of Disease 2010 Study 2 The American Journal of Cardiology (2013), 112: 1142-1147 3 Lifetime risk for development of atrial fibrillation. Circulatio