Atricure, Inc. · NASDAQ:ATRC
Atricure — Q1 2024 Earnings Presentation
17 slides from Atricure's earnings presentation, May 1, 2024
Slide 1: Creating a World Class Platform
Creating a World Class Platform Investor Presentation May 2024 © 2024 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 driving consistent growth of those affected by Afib and pain Bright Future Novel therapies supported by after surgery growing body
Slide 4: 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 46% Greater Risk of Mortality2 failure, dementia, and other health problems >5x Higher Risk of Heart Failure3 © 2024 AtriCure, Inc. All rights r
Slide 5: Afib: A Serious Problem (3.5 Million)
Afib: A Serious Problem Afib affects more than 37 million people worldwide. 4 3.5 Million 8 Million People estimated to have 1 in 4 Adults People estimated to have Afib in the US5 long-standing persistent Afib Over the age of 40 in the US6 will develop Afib in their lifetime7 © 2024 AtriCure, Inc. A
Slide 6: AtriCure Patient Profile
AtriCure Patient Profile Differentiated Focus: Creating Standards of Care for Patients with Advanced Afib Referring Physician: GP, Cardiologist Structural Heart Issue No Structural Issue Afib is primary concern Surgery required (Valve, CABG) Afib corrected at same time Medicine is Intervention is ef
Slide 7: Significant Global Market Opportunity
Significant Global Market Opportunity $5B+ Global Opportunity Low Penetration in Existing Markets + Pain Unlocking New Management Market Opportunities Pain Management Ablation Continuous innovation Ablation and clinical science to Thoracic Procedures Hybrid establish and expand Sternotomy Procedures
Slide 8: Cardiac Surgery Ablation + LAAM
Cardiac Surgery Ablation + LAAM Established Market and Advancing Innovation in Patient Care Innovation Clinical Science Awareness • Isolator Synergy EnCompass® • Isolator® Synergy Ablation • Advanced Ablation Courses Clamp launched 2022 System first medical device endorsed by the Society of with FDA
Slide 9: Hybrid Therapy Ablation + LAAM
Hybrid Therapy Ablation + LAAM Growing Market with Unique Solutions for Advanced Afib Patients Innovation Clinical Science Awareness • Multiple approaches to • CONVERGE IDE Trial: EPi-Sense® Guided • Hybrid Training Course treatment: Hybrid AF Coagulation System approved by FDA for co-sponsored by t
Slide 10: Standalone Treatment of Afib
Standalone Treatment of Afib Clinical Trial Patient Landscape Paroxysmal Persistent Long-Standing Persistent (~30% Prevalence)* (~25% Prevalence) * (~45% Prevalence) * Occurs occasionally and Lasts beyond 7 days Lasts longer than 1 year can last up to 7 days and as long as 1 year without stopping 13
Slide 11: Pain Management
Pain Management Leading Market Development through Ablation Expertise Innovation Clinical Science & Awareness • cryoSPHERE® cryoablation probe launched 2019 • FROST Study: Pain Management in Post and cryoSPHERE+ probe launching 2024 Thoracic Procedures via Intercostal Cryoanalgesia • Expanded labeli
Slide 12: First Quarter 2024 Financial Highlights
First Quarter 2024 Financial Highlights Worldwide Revenue* ($M) Key Metrics* $108.9 Q1 2024 Q1 2023 $106.5 +16.4% GROSS MARGIN 74.7% 74.5% OPERATING EXPENSES $92.2M $75.4M** +2.2% ADJUSTED EBITDA+ $2.8M $1.9M $93.5 ADJUSTED LOSS PER SHARE+ ($0.25) ($0.23) CASH & INVESTMENTS $106M $161M Q1 2023 Q4 20
Slide 13: Financial Results and 2024 Outlook
Financial Results and 2024 Outlook $500 ($ Millions) $450 $400 +21% Worldwide Revenue $350 +20% 2024 Guidance $300 +33% $250 Worldwide Revenue of $200 $459 million to $466 million $150 (approximately 15-17% annual growth) $100 Adjusted EBITDA of $50 $26 million to $29 million $- 2020 2021 2022 2023
Slide 14: AtriCure: Foundation for Success
AtriCure: Foundation for Success 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 inc
Slide 15: Thank You!
Thank You! © 2024 AtriCure, Inc. All rights reserved.
Slide 16: 2023 Highlights and Accomplishments
2023 Highlights and Accomplishments 21% Annual Top Workplace Honors Revenue CLIMB Award Cincinnati, Minneapolis, Amsterdam Recognizing DE&I in STEM Growth $100 500k+ Life to date CryoSPHERE AtriClip Devices revenue exceeded million sold to date >1 Million Second 1,396 Patients CryoSPHERE+ Improving
Slide 17: References and Abbreviations
References and Abbreviations Note Reference Key Abbreviations 1 J Geriatr Cardiol. 2016 Oct; 13(10): 880–882, doi: 10.11909/j.issn.1671-5411.2016.10.004 Afib or AF Atrial Fibrillation Odutayo, A. et al. (2016). Atrial fibrillation and risks of cardiovascular disease, renal disease, and deaths system