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# AtriCure Books A $23.3 Million Finance Lease On Its New Ohio Campus And Pays A $4.5 Million Milestone
- URL: https://www.bullished.co/atricure-books-a-23-3-million-finance-lease-on-its-new-ohio-campus-and-pays-a-4-5-million-25fda7ba/
- Published: 2026-11-04T19:06:10.000Z
- Updated: 2026-11-04T19:06:10.000Z
- Description: R&D spending rose 40.3% in the third quarter as net income turned positive, and a Mason, Ohio expansion lease hit the balance sheet.
- Author: Matteo Parrino
- Tags: Earnings, ATRC, Industry: Healthcare

[AtriCure](https://www.bullished.co/tag/atrc/), which makes surgical devices to treat atrial fibrillation, manage the left atrial appendage and ease post-operative pain, recorded a [$23.3 million finance lease liability](https://www.sec.gov/Archives/edgar/data/0001323885/000132388526000040/atrc-20260930.htm?ref=bullished.co) on its finished Mason, Ohio headquarters expansion, according to its 10-Q. The same quarter carried a $4.5 million milestone payment that helped push research spending up 40.3%, even as the company posted net income of $4.1 million.

## R&D jumps on a milestone payment

Third-quarter research and development expense rose $9.224 million, or 40.3%, to $32.1 million. The biggest piece was a $4.5 million payment for acquired in-process research, followed by a $3.0 million rise in clinical costs, largely from BoxX-NoAF trial enrollment, and $1.6 million more for new product development projects.

The payment is a milestone under the company's pulsed field ablation co-development deal. Total milestones paid now stand at $10.5 million, against a maximum of $28 million through 2034\. The [second-quarter 10-Q](https://www.sec.gov/Archives/edgar/data/0001323885/000132388526000035/atrc-20260630.htm?ref=bullished.co) showed $6 million paid at the end of June.

Despite the charge, the company reported third-quarter net income of $4.1 million, against a $267,000 loss a year earlier, on revenue of $154.5 million, up 15.0%.

## A headquarters lease moves onto the books

The expansion began in August 2025 as a sale-leaseback of the existing headquarters for $6.25 million, with the buyer-lessor financing construction of new manufacturing and office space. Construction was substantially completed in August 2026, and the lease term began.

AtriCure booked a $23.3 million finance lease liability and a $24.8 million right-of-use asset. Total finance lease liabilities reached $29.6 million at September 30, from $7.3 million at December 31\. Undiscounted finance lease payments total $45.6 million, with $29.0 million falling in 2031 and later.

Property and equipment, net, rose to $66.7 million from $39.1 million at year-end. Net cash used in investing rose by $6.558 million for the nine months, driven by headquarters campus spending.

## Receivables and inventory build

Over nine months, accounts receivable absorbed $10.0 million of cash and inventories $9.1 million, versus $1.9 million and $2.7 million a year earlier. Finished goods inventory reached $40.8 million at September 30, from $36.6 million at June 30.

AtriCure held $187.0 million in cash and owed $61.0 million on its credit line. Shares rose 7.3% in Wednesday trading, as of 2:04 p.m. ET, leaving a market value of about $3.1 billion.

## Launches and dates ahead

The company received FDA clearance in October for a 30 mm AtriClip FLEX-Mini and expects to launch it before the end of 2026\. It also expects to finish BoxX-NoAF site initiation and enrollment in the fourth quarter.

The achievement period for a SentreHEART reimbursement milestone expires December 31, 2026; the company rates payment as remote.

The reimbursement milestone window closes December 31, 2026, the same year the company targets for the 30 mm FLEX-Mini launch.

### Sources

- [10-Q Filing — AtriCure (ATRC)](https://www.sec.gov/Archives/edgar/data/0001323885/000132388526000040/atrc-20260930.htm?ref=bullished.co) — SEC EDGAR
- [10-Q Filing — AtriCure (ATRC), Q2 FY2026 filed 2026-07-27 (comparison basis)](https://www.sec.gov/Archives/edgar/data/0001323885/000132388526000035/atrc-20260630.htm?ref=bullished.co) — SEC EDGAR
- [Earnings release (8-K Item 2.02, exhibit991-1132026.htm) — AtriCure, filed 2026-11-03](https://www.sec.gov/Archives/edgar/data/0001323885/000132388526000038/exhibit991-1132026.htm?ref=bullished.co) — SEC EDGAR
- [AtriCure Non-GAAP EPS of $0.18 beats by $0.17, revenue of $154.5M beats by $3.31M (ATRC:NASDAQ) | Seeking Alpha](https://seekingalpha.com/news/4664078-atricure-non-gaap-eps-of-0%5F18-beats-by-0%5F17-revenue-of-154%5F5m-beats-by-3%5F31m?ref=bullished.co) — seekingalpha.com
- [AtriCure projects 2026 adjusted EBITDA of $91M-$94M as it targets BoxX-NoAF enrollment completion by year-end (NASDAQ:ATRC) | Seeking Alpha](https://seekingalpha.com/news/4664477-atricure-projects-2026-adjusted-ebitda-of-91m-94m-as-it-targets-boxx-noaf-enrollment?ref=bullished.co) — seekingalpha.com
- [AtriCure (ATRC) Beats Q3 Earnings and Revenue Estimates](https://finance.yahoo.com/healthcare/articles/atricure-atrc-beats-q3-earnings-211001975.html?.tsrc=rss&ref=bullished.co) — Yahoo Finance
- [AtriCure: Q3 Earnings Snapshot | wusa9.com](https://www.wusa9.com/article/syndication/associatedpress/atricure-q3-earnings-snapshot/616-842d553b-5ecb-4c59-81b4-ac6433b413b6?ref=bullished.co) — Associated Press
- [AtriCure: Q3 Earnings Snapshot | king5.com](https://www.king5.com/article/syndication/associatedpress/atricure-q3-earnings-snapshot/616-842d553b-5ecb-4c59-81b4-ac6433b413b6?ref=bullished.co) — Associated Press

### More on AtriCure

- [AtriCure CEO Says Its Products Are 'Far Superior To Anything Else On The Market' As A New Rival Enters](https://www.bullished.co/atricure-ceo-says-its-products-are-far-superior-to-anything-else-on-the-market-as-a-new-95f89f23/)
- [AtriCure Posts $4.1 Million Quarterly Profit As Pain Probes Surge And Hybrid Ablation Shrinks](https://www.bullished.co/atricure-posts-4-1-million-quarterly-profit-as-pain-probes-surge-and-hybrid-ablation-3ef0d577/)

[All AtriCure (ATRC) coverage →](https://www.bullished.co/tag/atrc/)