AtriCure (Nasdaq:ATRC) today reported preliminary fourth-quarter revenue results that beat the Wall Street consensus, with expectations for sales to grow 11–13% this year.
ATRC shares were up more than 5% to $33.06 apiece by midday trading today.
Mason, Ohio–based AtriCure has carved out a strong niche in the surgical space. It said that the preliminary, unaudited Q4 revenue of $124.3 million, up 17%, was driven by its Cryosphere devices for pain management, AtriClip devices in open chest procedures, and the EnCompass clamp. The consensus among Wall Street analysts for Q4 revenue was $119.85 million.
AtriCure expects its full-year 2024 revenue to be $465.3 million, also up 17%, with losses per share of 74–80¢ per share. The Street has expected a loss of 74¢,
For 2025, AtriCure management predicts revenue of approximately $517–527 million.
“2024 was another year of remarkable growth and innovation for AtriCure. We introduced several new products, expanded the reach of our franchises, and continued to deliver best-in-class solutions for providers and patients around the world,” AtriCure CEO Michael Carrel said in a news release. “We expect overall momentum of our business to continue in 2025 despite ongoing pressure in our U.S. Hybrid franchise. Our focus on growth, innovation, market expansion, and increasing profitability are key initiatives for the year ahead.”
Mike Matson, senior research analyst at Needham & Co., kept his Buy rating on ATRC shares, saying that the preliminary numbers indicate that AtriCure continues to navigate through headwinds related to pulsed field ablation and Medtronic’s competing Penditure left atrial appendage (LAA) exclusion device.