AtriCure Posts $4.1 Million Quarterly Profit As Pain Probes Surge And Hybrid Ablation Shrinks
Revenue rose 15.0% to $154.5 million in the third quarter, and the company lifted its full-year revenue outlook.
AtriCure, which makes surgical devices for atrial fibrillation, appendage management and post-surgical pain, reported third-quarter net income of $4.1 million on Tuesday, against a $267,000 loss a year earlier. Revenue climbed 15.0% to $154.5 million, even as sales of its minimally invasive ablation products fell.
Pain probes and clips carry the quarter
Revenue growth was 15.1% on a constant-currency basis, the company said in an 8-K. U.S. revenue rose 17.1% to $128.0 million, an increase of $18.7 million. International revenue rose 5.8% to $26.4 million, with growth in every franchise.
U.S. pain management sales reached $28.1 million from $20.8 million a year earlier. The company credited the cryoSPHERE MAX probe, the EnCompass clamp in open ablation, and the AtriClip FLEX-Mini and PRO-Mini devices for appendage management.
U.S. minimally invasive ablation fell to $5.4 million from $7.4 million. AtriCure attributed the drop to a continued decline in Hybrid procedures as physicians adopt PFA catheters, a competing way of treating Afib.
Margins widen, profit turns
Gross margin rose 180 basis points, or 1.8 percentage points, to 77.3%, driven mainly by favorable product and geographic mix. Operating income was $4.4 million versus $0.2 million a year earlier, and earnings came to $0.08 per share against a $0.01 loss.
Adjusted EBITDA, the company's earnings measure before interest, taxes, depreciation, stock pay and certain one-time items, reached $26.8 million, up 51% from a year earlier. Adjusted earnings per share were $0.18, versus an adjusted loss of $0.01. The quarter included $4.5 million of acquired in-process research expense.
CEO Michael Carrel said the results show "the strength of our broad portfolio" and pointed to rapid progress in the BoxX-NoAF clinical trial.
Outlook and the balance sheet
AtriCure now projects full-year 2026 revenue of about $606 million to $610 million and adjusted EBITDA of about $91 million to $94 million. It expects net income of $0.21 to $0.27 per share, or adjusted earnings of about $0.40 to $0.46, and continued positive cash generation.
Cash stood at $187.0 million at September 30, up from $167.4 million at the end of 2025, against $61.0 million of long-term debt.
Management discusses the results on a call at 4:30 p.m. Eastern on Tuesday, with a webcast replay available for 90 days.
Sources
- 8-K Filing — AtriCure, Inc. (ATRC) — SEC EDGAR
- Exhibit exhibit991-1132026.htm — AtriCure, Inc. 8-K exhibit — SEC EDGAR
