AtriCure, Inc. Files Q2 2024 10-Q

Ticker: ATRC · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 1323885

Sentiment: neutral

Topics: 10-Q, financials, medical-devices

TL;DR

AtriCure's Q2 10-Q is in - check financials for latest performance.

AI Summary

AtriCure, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter and the first half of the year, detailing its revenue, expenses, and net income. The filing provides an update on its business operations and financial condition.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for AtriCure, Inc., crucial for understanding the company's trajectory in the medical device sector.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant financial health or operational challenges.

Key Players & Entities

FAQ

What were AtriCure's total revenues for the six months ended June 30, 2024?

The filing indicates financial results for the period from January 1, 2024, to June 30, 2024, but specific revenue figures are not detailed in the provided header information.

What is AtriCure's fiscal year end?

AtriCure's fiscal year ends on December 31.

When was this 10-Q form filed?

This 10-Q form was filed on July 31, 2024.

What is AtriCure's SIC code?

AtriCure's Standard Industrial Classification (SIC) code is 3841, for Surgical & Medical Instruments & Apparatus.

What is the company's state of incorporation?

AtriCure, Inc. is incorporated in Delaware (DE).

Filing Stats: 4,650 words · 19 min read · ~16 pages · Grade level 17.8 · Accepted 2024-07-31 11:39:45

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months Ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 22 Item 4.

Controls and Procedures

Controls and Procedures 22

OTHER INFORMATION

PART II. OTHER INFORMATION 23 Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Other Information

Item 5. Other Information 23 Item 6. Exhibits 25

Signatures

Signatures 26 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements ATRICURE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In Thousands, Except Per Share Amounts) (Unaudited) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 106,035 $ 84,310 Short-term investments 7,985 52,975 Accounts receivable, less allowance for credit losses of $ 400 and $ 500 55,568 52,501 Inventories 73,654 67,897 Prepaid and other current assets 9,610 8,563 Total current assets 252,852 266,246 Property and equipment, net 42,175 42,435 Operating lease right-of-use assets 4,030 4,324 Intangible assets, net 60,238 63,986 Goodwill 234,781 234,781 Other noncurrent assets 3,197 2,160 Total Assets $ 597,273 $ 613,932 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 26,666 $ 27,354 Accrued liabilities 32,018 44,682 Current lease liabilities 2,541 2,533 Total current liabilities 61,225 74,569 Long-term debt 61,865 60,593 Finance and operating lease liabilities 10,910 11,368 Other noncurrent liabilities 1,188 1,234 Total Liabilities 135,188 147,764 Commitments and contingencies (Note 9) Stockholders' Equity: Common stock, $ 0.001 par value, 90,000 shares authorized and 48,686 and 47,526 issued and outstanding 49 48 Additional paid-in capital 840,939 824,170 Accumulated other comprehensive loss ( 569 ) ( 993 ) Accumulated deficit ( 378,334 ) ( 357,057 ) Total Stockholders' Equity 462,085 466,168 Total Liabilities and Stockholders' Equity $ 597,273 $ 613,932 See accompanying notes to condensed consolidated financial statements. 3 Table of Contents ATRICURE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (In Thousands, Except Per Share Amounts) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenue $ 116,269 $ 100,918 $ 225,120 $ 194,412 Cost of revenue 29,425 23,841 57,008 47,726 Gross profit 86,844 77,077 168,112 146,686

View Full Filing

View this 10-Q filing on SEC EDGAR

View on Read The Filing