AtriCure, Inc. Files 2024 10-K

Ticker: ATRC · Form: 10-K · Filed: Feb 14, 2025 · CIK: 1323885

Sentiment: neutral

Topics: 10-K, annual-report, medical-devices

TL;DR

AtriCure filed its 2024 10-K, check financials for the year ending Dec 31, 2024.

AI Summary

AtriCure, Inc. filed its 2024 10-K on February 14, 2025, detailing its fiscal year ending December 31, 2024. The company, based in Mason, Ohio, operates in the surgical and medical instruments sector. Key financial details and operational aspects for the fiscal year are presented in this comprehensive filing.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of AtriCure's financial performance, strategic initiatives, and risk factors for the 2024 fiscal year, crucial for understanding the company's current standing and future outlook.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.

Key Players & Entities

FAQ

What was AtriCure, Inc.'s total revenue for the fiscal year ending December 31, 2024?

The provided text does not contain specific revenue figures for the fiscal year ending December 31, 2024. A detailed review of the full 10-K document would be required to find this information.

What is AtriCure, Inc.'s primary business segment?

AtriCure, Inc. operates in the 'SURGICAL & MEDICAL INSTRUMENTS & APPARATUS' sector, as indicated by its Standard Industrial Classification code [3841].

When was AtriCure, Inc. incorporated?

The state of incorporation for AtriCure, Inc. is Delaware (DE).

What is the SEC file number for AtriCure, Inc.'s 10-K filings?

The SEC file number for AtriCure, Inc. is 000-51470.

Where is AtriCure, Inc. headquartered?

AtriCure, Inc. is headquartered at 7555 Innovation Way, Mason, OH 45040.

Filing Stats: 4,422 words · 18 min read · ~15 pages · Grade level 15.1 · Accepted 2025-02-14 13:39:56

Filing Documents

BUSINESS

BUSINESS 2 ITEM 1A .

RISK FACTORS

RISK FACTORS 15 ITEM 1B. UNRESOLVED STAFF COMMENTS 31 ITEM 1C. CYBERSECURITY 31 ITEM 2.

PROPERTIES

PROPERTIES 33 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 33 ITEM 4. MINE SAFETY DISCLOSURES 33 PART II 34 ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 34 ITEM 6. RESERVED 34 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 35 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 41 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 43 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 69 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 69 ITEM 9B . OTHER INFORMATION 71 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 71 PART III 71 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 71 ITEM 11 .

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 71 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 72 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 72 ITEM 14 . PRINCIPAL ACCOUNTANT FEES AND SERVICES 72 PART IV 73 ITEM 15 . EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 73 ITEM 16. FORM 10-K SUMMARY 74

SIGNATURES

SIGNATURES 75 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Form 10-K, including the sections titled "Management's Discussion and Analysis of Financial Condition and Results of Operations", "Risk Factors" and "Quantitative and Qualitative Disclosures about Market Risk" contains forward-looking statements regarding our future performance. All forward-looking information is inherently uncertain and actual results may differ materially from assumptions, estimates or expectations reflected or contained in the forward-looking statements as a result of various factors, including those set forth under "Risk Factors" and elsewhere in this Form 10-K. There may be additional risks of which we are not presently aware or that we currently believe are immaterial which could have an adverse impact on our business. Forward-looking statements often address our expected future business, financial performance, financial condition and results of operations, and often contain words such as "intends," "estimates," "anticipates," "hopes," "projects," "plans," "expects," "drives," "seek," "believes," "see," "focus," "should," "will," "would," "opportunity," "outlook," "could," "can," "may," "future," "predicts," "target," "potential," "forecast," "trend," "might" and similar expressions and the negative versions of those words, and may be identified by the context in which they are used. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, statements that address activities, events, circumstances or developments that AtriCure expects, believes or anticipates will or may occur in the future, such as earnings estimates (including projections and guidance), other predictions of financial performance, launches by AtriCure of new products, developments with competitors and market acceptance of AtriCure's products. Such statements are based largely upon current expectat

BUSINESS

ITEM 1. BUSINESS Overview We are a leading innovator in treatments for atrial fibrillation (Afib), left atrial appendage (LAA) management and post-operative pain management. Afib is an irregular heartbeat, or arrhythmia, which affects over 59 million people worldwide and is a growing epidemic. It is the most common cardiac arrhythmia encountered in clinical practice and results in high utilization of healthcare services and significant cost burden. Patients often progress from being in Afib intermittently (paroxysmal) to being in Afib continuously (non-paroxysmal). The continuous Afib patient population includes early persistent Afib, which lasts seven days to 6 months, persistent Afib, which lasts 6 months to one year, and long-standing persistent Afib, which lasts longer than one year. It is estimated that over 4 million people in the United States currently suffer from long-standing persistent Afib. Afib often occurs in conjunction with other cardiovascular diseases, including hypertension, congestive heart failure, left ventricular dysfunction, coronary artery disease and valvular disease. Our cardiac ablation and left atrial appendage management (LAAM) products are used by physicians during open-heart and minimally invasive surgical procedures. In open-heart procedures, the patient is undergoing heart surgery for other conditions, such as a mitral or aortic valve repair or a coronary artery bypass, and our products are used by physicians in conjunction with ("concomitant" to) such a procedure. Minimally invasive procedures are performed on a standalone basis, and often include multi-disciplinary or "hybrid" approaches, combining surgical procedures using our ablation and LAAM products with catheter ablation performed by an electrophysiologist. Our pain management solutions are used by physicians to freeze nerves during cardiothoracic or thoracic surgical procedures. Recovery from cardiothoracic and thoracic surgery can be complicated and painful. Many surge

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