Atricure, Inc. · NASDAQ:ATRC
Atricure — Q4 2024 Earnings Presentation
22 slides from Atricure's earnings presentation, Feb 12, 2025
Slide 1: Creating a World Class Platform
Creating a World Class Platform Investor Presentation February 2025 © 2025 AtriCure, Inc. All rights reserved.
Slide 2: Forward Looking Statements and Non-GAAP Financial Measures
Forward Looking Statements and Non-GAAP Financial Measures 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 stat
Slide 3: We are passionately focused on healing the lives of those affected by Afib and pain
We are Large Markets Addressing an underserved and passionately growing patient population focused on Strong Portfolio healing the lives Existing products and solutions and continuous innovation driving of those affected consistent growth by Afib and pain Bright Future after surgery Novel therapies
Slide 4: Strategic Focus
Strategic Focus Profitable Expansion Growth Clinical Innovation Science Developing Strong history of addressable markets revenue growth and Continuous Differentiated clinical and expanding acceleration from improvement, trials with superior patient impact multiple catalysts with increasing pipeline
Slide 5: Afib: A Serious Problem
Afib: A Serious Problem Atrial Fibrillation (Afib) is an 5x Higher Risk of Stroke1 irregular heartbeat (or arrhythmia) tied to higher risk of stroke, heart 5x Greater Risk of All-Cause Death1 failure, dementia, and other health problems >5x Higher Risk of Heart Failure2 © 2025 AtriCure, Inc. All rig
Slide 6: Afib: A Serious Problem
Afib: A Serious Problem Afib affects more than 59 million people worldwide. 3 1 in 4 Adults > 4 Million Over the age of 40 People estimated to have will develop Afib in their long-standing persistent Afib lifetime4 in the US5 © 2025 AtriCure, Inc. All rights reserved. 6
Slide 7: AtriCure Patient Profile
AtriCure Patient Profile Differentiated Focus: Creating Standards of Care for Patients with Advanced Afib and Managing Post-Operative Pain Afib Pain Management Structural Heart Issue No Structural Issue Thoracic Surgery Surgery required (Valve, CABG) Afib is primary concern Intercostal nerve pain Af
Slide 8: Significant Global Market Opportunity
Significant Global Market Opportunity $5B+ Current Global Opportunity $1B 2010 Global Pain Opportunity Management Ablation Thoracic Procedures Hybrid Cardiac Therapy Surgery MIS Ablation + Open Ablation + LAAM LAAM Cardiac Surgery Standalone Treatment Concomitant for Long-Standing Treatment Pre-Op A
Slide 9: Expanding Market Opportunity
Expanding Market Opportunity $10B+ Global Opportunity Leading with innovation, clinical science and education to establish and grow our markets Pain Pain Pain Management Management Management Ablation Ablation + Ablation Extremities Thoracic Procedures Hybrid Sternotomy Procedures Therapy Hybrid The
Slide 10: Innovation and Clinical Milestones
Innovation and Clinical Milestones 2000 2010 2015 2020 • AtriCure • Isolator® Synergy • EPi-Sense® • EPi-Sense System approved by FDA for founded Ablation System FDA system acquired treatment of long-standing persistent Afib approved for treatment • First patient of persistent or long- • AtriClip PR
Slide 11: Treatment of Afib and LAAM
Treatment of Afib and LAAM Guidelines for Clinical Practice Lasts beyond 7 days Lasts longer than 1 year and as long as 1 year without stopping Sources included in Appendix © 2025 AtriCure, Inc. All rights reserved. 11
Slide 12: Treatment of Afib and LAAM: Improving Access through Reimbursement
Treatment of Afib and LAAM Improving Access through Reimbursement Hospital Reimbursement MS-DRG 317 Hospital Reimbursement Epicardial Ablation + MS-DRG 212 Lasts longer than 1 year Physician Reimbursement Epicardial LAA CPT 33267, 33268, 33269 AVR + MVR + Surgical without stopping Ablation $15k - $2
Slide 13: Cardiac Surgery Ablation + LAAM
Cardiac Surgery Ablation + LAAM Established Market and Advancing Innovation in Patient Care Key Initiatives and Growth Drivers • Penetrate global market with EnCompass Approved. Isolator Synergy clamp Ablation System first medical device with FDA approval for treatment of Afib • Drive adoption of
Slide 14: Hybrid Therapy Ablation + LAAM
Hybrid Therapy Ablation + LAAM Growing Market with Unique Solutions for Advanced Afib Patients Key Initiatives and Growth Drivers >4 Million • Drive adoption of Hybrid AF Therapy with Epi-Sense / ST devices, expanding global People estimated to have long- customer base standing persistent Afib in th
Slide 15: Pain Management
Pain Management Leading Market Development through Ablation Expertise Key Initiatives and Growth Drivers • Expand adoption of 2024 new product launches: cryoSPHERE+ probe and cryoSPHERE MAX probe Cryo Nerve Block Therapy • Reduced freeze times by 25% can be an important tool in (cryoSPHERE+) and 50%
Slide 16: Fourth Quarter 2024 Financial Highlights
Fourth Quarter 2024 Financial Highlights Worldwide Revenue* ($M) Key Metrics* +16.7% $124.3 Q4 2024 Q4 2023 GROSS MARGIN 74.5% 74.9% $115.9 +7.2% OPERATING EXPENSES $107.1M $88.5M ADJUSTED EBITDA+ $12.7M $4.8M $106.5 ADJUSTED LOSS PER SHARE+ ($0.08) ($0.21) CASH & INVESTMENTS $123M $137M Q4 2023 Q3
Slide 17: 2024 Highlights and Accomplishments
2024 Highlights and Accomplishments 17% Top Workplace Honors Annual Fast Company’s Cincinnati, Minneapolis, Netherlands, Revenue 100 Best Workplaces Australia, United Kingdom Growth for Innovators 26% cryoS+ Key New cryoS ATRICLIP Product Launches MAX FLEX•Mini 4,200 International Pain Management LA
Slide 18: Financial Results and 2025 Outlook
Financial Results and 2025 Outlook $500 +17% $450 $400 +21% $350 Worldwide Revenue +20% $300 $250 +33% 2025 Guidance $200 Worldwide Revenue $150 $517 million to $527 million $100 Adjusted EBITDA $50 $42 million to $44 million $- ($ Millions) 2020 2021 2022 2023 2024 Modest Cash Flow Generation $40 S
Slide 19: Key Takeaways
Key Takeaways Strong Q4 2024 and FY 2024 2025 Guidance Worldwide Revenue Q4 Worldwide Revenue $517M to $527M $124.3M (~17% Growth) Adjusted EBITDA 2024 Worldwide Revenue $42M to $44M $465.3M (~17% Growth) Positive Cash Flow 2024 Adjusted EBITDA $31.1M (~60% Increase) Focused on Market Analyst & Pene
Slide 20: Thank You!
Thank You! © 2025 AtriCure, Inc. All rights reserved.
Slide 21: References and Abbreviations
References and Abbreviations Key Abbreviations Afib or AF Atrial Fibrillation Note Reference AVR Aortic Valve Repair/Replacement Odutayo, A. et al. (2016). Atrial fibrillation and risks of cardiovascular disease, renal disease, and deaths systematic review and meta 1 analysis. BMJ 2016; 354:i4482 CA
Slide 22: Sources Tables
Sources Tables Treatment of Afib and LAAM Treatment of Afib and LAAM Advancing Guidelines for Clinical Practice Improving Access through Reimbursement Sources: January, C. T., Wann, L. S., Calkins, H., Chen, L. Y., Cigarroa, J. E., Cleveland Jr, J. C., ... & Sources: In 2021, CMS moved CABG plus abl