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Atricure, Inc. (ATRC) stock

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NASDAQ: ATRC Nasdaq Health Care Equipment Next results ~November 3, 2026

B Fundamentals grade

Atricure, Inc. is a US-listed company in the health care equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$19

Valuation models combined (3)

Base case. Range ~$14–$29. Weighted average of 3 models (growth cash-flow model, forward price-to-sales vs peers, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Atricure, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Atricure files

Where Atricure stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $570m, up 13.9% on a year earlier, slower than the 15.0% growth a quarter earlier. Free-cash-flow margin rose to 9.3% from 5.1% a year earlier. Operating margin widened to 2.3% from -6.8%. The diluted share count is up 2.4% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 6 of our 7 financial-health checks. Our revenue-to-maturity cash-flow model value is $29.97 a share, against a share price of $62.26.

Source: 10-Q filed July 27, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Atricure, Inc.'s trailing-twelve-month revenue grew 13.9% year on year, with a free-cash-flow margin of 9.3%.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 650% in the quarter to 2026-06-30, the 4th beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 9.1 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.1bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 24.5% over 90 days.

Things to watch

  • Share dilution. Diluted shares rose 2.4% in a year.
  • High earnings multiple. The shares trade at 275 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 46% and a beta of 0.5 against the S&P 500.
  • Heavily shorted. 10.0% of the shares available to trade are sold short (3.5 days of average volume to cover).

Latest results: FY2026 Q2

Filed July 27, 2026
Earnings per share
$0.18 against an average estimate of $0.02: beat by 650.3%
Revenue
$154m, up 12.8% on a year earlier
Share reaction
+4.5% in the first session after the results on July 23, 2026, against -1.1% for the S&P 500
Guidance given
full year 2026 revenue $602m to $610m (Full year 2026); full year 2026 adjusted EBITDA $85m to $89m (Full year 2026)
Next report
November 3, 2026; average EPS estimate $0.01

Atricure's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.8%
  • 1 week-1.9%
  • 1 month+9.4%
  • This year+51.4%
  • 1 year+77.3%
  • 5 years-29.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$570M
Operating margin
2.3%
Net margin
1.9%
EPS (TTM, diluted)
$0.22

Growth

Revenue growth
+13.9%
Change in growth rate
−1.1 pts
Share count change
+2.4%

Cash

Free cash flow (TTM)
$53.1M
FCF margin
9.3%
Stock pay % of revenue
8.3%

Earnings

Last results
July 23, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Atricure, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Atricure, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.93 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$14 ~$10–$17 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$7.2 ~$6.3–$11 Left out: out of range vs price (0.12x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$0.9 ~$0.4–$1.9 Left out: out of range vs price (0.02x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$16 ~$18–$62 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$29 ~$24–$36 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$19 ~$14–$29 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Atricure, Inc. with Health Care Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$22.44$19.57$18.24$30.60$32.51$55.67$69.53$44.38$35.69$30.56$39.56$59.88
Market value$630m$619m$591m$1.0bn$1.2bn$2.3bn$3.2bn$2.0bn$1.7bn$1.4bn$1.9bn$2.9bn
+ Net debt (− = net cash)−$24m$15m$16m$21m$32m$18m$16m$4m−$21m−$58m−$106m−$107m
Enterprise value$606m$633m$606m$1.1bn$1.3bn$2.4bn$3.2bn$2.0bn$1.6bn$1.4bn$1.8bn$2.8bn
Multiples
Price / sales 4.9x4.0x3.4x5.2x5.3x11.4x11.7x6.1x4.1x3.1x3.5x5.1x
Price / earnings ——————63.8x————n/m
Price / free cash flow —————————n/m39.1x54.6x
EV / EBITDA ——————51.3x———n/m112.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

39 /100

Weak moat

How hard Atricure's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 2 / 20

    Cash operating profit has been a median 3.1% of total assets over 10 years.

  • Pricing power 20 / 20

    Gross margin has been a median 74.7%, moving by 1.4 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -8.2%; its worst year was -22.0%.

  • Cash conversion 2 / 20

    Free cash flow was positive in 2 of 10 years, at a median -5.3% of revenue.

  • Discipline 6 / 20

    The diluted share count rose 9.0% over five years; stock-based pay has been a median 8.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $151m and EPS of $0.01 (range −$0.03 to $0.05) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.28 +358% $606m +13%
Next $0.43 +53% $680m +12%

Next year's EPS estimate has moved +24.5% in 90 days, across 9 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +133.3% on 90 days ago. In the last 30 days, 8 analysts raised Atricure, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Atricure, Inc., last 90 days
$0.00 $0.20 $0.40 $0.60 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.12 Current fiscal year, 60 days ago: $0.28 Current fiscal year, 30 days ago: $0.28 Current fiscal year, 7 days ago: $0.28 Current fiscal year, Now: $0.28 $0.28 Next fiscal year, 90 days ago: $0.35 Next fiscal year, 60 days ago: $0.43 Next fiscal year, 30 days ago: $0.43 Next fiscal year, 7 days ago: $0.43 Next fiscal year, Now: $0.43 $0.43

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.12$0.35
60 days ago $0.28$0.43
30 days ago $0.28$0.43
7 days ago $0.28$0.43
Now $0.28$0.43

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.02 $0.18 +650.3%
Mar 2026 −$0.06 $0.00 +100.0%
Dec 2025 −$0.04 $0.06 +249.9%
Sept 2025 −$0.12 −$0.01 +91.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 23, 2026
  • Full year 2026 revenue Full year 2026 $602m to $610m
    “Full year 2026 revenue is projected to be approximately $602 million to $610 million, and management also projects full year 2026 adjusted EBITDA of approximately $85 million to $89 million.” source
  • Full year 2026 net income per share Full year 2026 $0.05 to $0.13 GAAP
    “Full year 2026 net income per share is expected to be in the range of $0.05 to $0.13, and adjusted earnings per share is expected to be in the range of $0.24 to $0.32.” source
  • Full year 2026 adjusted earnings per share Full year 2026 $0.24 to $0.32 Non-GAAP
    “Full year 2026 net income per share is expected to be in the range of $0.05 to $0.13, and adjusted earnings per share is expected to be in the range of $0.24 to $0.32.” source
  • Full year 2026 adjusted EBITDA Full year 2026 $85m to $89m Non-GAAP
    “Full year 2026 revenue is projected to be approximately $602 million to $610 million, and management also projects full year 2026 adjusted EBITDA of approximately $85 million to $89 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

10 analysts, Oct 2026
Buy770%
Hold330%
Sell00%

Monthly trend

  1. Oct 202634310
  2. Sep 202635210
  3. Aug 202635210
  4. Jul 202635210

Counts of recommendations published by analysts covering Atricure, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.0%
of tradable shares
Days to cover
3.46
at average volume
Short interest, 1 month
+14%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
3.8%
of shares
Employees
1,350
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +73.3%

$34.55 on October 31, 2025 to $59.88

ThenNowEffect
Revenue (last 12 months) $500m $570m +13.9%
P/S multiple 3.3x 5.1x +55.7%
Share count 47m 48m −2.3%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +61.9%

$36.98 on November 3, 2023 to $59.88

ThenNowEffect
Revenue (last 12 months) $366m $570m +55.8%
P/S multiple 4.7x 5.1x +9.4%
Share count 46m 48m −5.0%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ATRC+25%−36%−20%−14%+30%+51%
Industry peers (median)−9%−37%−8%−20%−16%−15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ATRC67%42%58%50%50%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ATRC−27%−53%−43%−47%−31%−39%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 77% from November 5, 2021 to June 17, 2024. Getting back needed a 339% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$25.86 – $62.48
From 52-week high
−4.2%
vs 50-day average
+7.3%
vs 200-day average
+56.8%
Volatility (1 year)
46%
Beta vs S&P 500
0.53

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±7.5%
After a week
4 up, 8 down
typical move ±12.2%
After a month
6 up, 6 down
typical move ±16.8%
Results releasedNext dayS&P 500 next day5 days21 days
July 23, 2026 +4.5% −1.1% +19.8% +46.1%
May 5, 2026 −2.7% +2.2% −7.3% −5.2%
February 17, 2026 −1.2% +0.7% −4.6% −11.6%
January 12, 2026 −12.2% 0.0% −7.3% −20.6%
October 29, 2025 −6.5% −1.1% −11.3% −0.9%
July 29, 2025 +5.7% −0.4% +13.0% +12.3%
April 29, 2025 −11.2% +0.7% −11.3% +1.2%
February 12, 2025 −4.6% +0.7% −5.7% −19.8%
January 13, 2025 +10.4% +0.3% +26.2% +34.9%
October 29, 2024 +21.1% −0.1% +23.4% +25.8%
July 30, 2024 −1.8% +1.1% −1.8% +16.6%
May 1, 2024 −7.9% +0.6% −14.2% −6.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Atricure, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Atricure, Inc.
$350M $400M $450M $500M $550M $600M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $380.7M Revenue (TTM), FY23 Q4: $399.2M Revenue (TTM), FY24 Q1: $414.6M Revenue (TTM), FY24 Q2: $430M Revenue (TTM), FY24 Q3: $447.6M Revenue (TTM), FY24 Q4: $465.3M Revenue (TTM), FY25 Q1: $480.1M Revenue (TTM), FY25 Q2: $499.9M Revenue (TTM), FY25 Q3: $518.3M Revenue (TTM), FY25 Q4: $534.5M Revenue (TTM), FY26 Q1: $552.2M Revenue (TTM), FY26 Q2: $569.6M $569.6M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $380.7M
FY23 Q4 $399.2M
FY24 Q1 $414.6M
FY24 Q2 $430M
FY24 Q3 $447.6M
FY24 Q4 $465.3M
FY25 Q1 $480.1M
FY25 Q2 $499.9M
FY25 Q3 $518.3M
FY25 Q4 $534.5M
FY26 Q1 $552.2M
FY26 Q2 $569.6M
Revenue growth, TTM YoY Atricure, Inc.
12% 14% 16% 18% 20% 22% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 20.6% Revenue growth, TTM YoY, FY23 Q4: 20.8% Revenue growth, TTM YoY, FY24 Q1: 18.7% Revenue growth, TTM YoY, FY24 Q2: 17.6% Revenue growth, TTM YoY, FY24 Q3: 17.6% Revenue growth, TTM YoY, FY24 Q4: 16.5% Revenue growth, TTM YoY, FY25 Q1: 15.8% Revenue growth, TTM YoY, FY25 Q2: 16.3% Revenue growth, TTM YoY, FY25 Q3: 15.8% Revenue growth, TTM YoY, FY25 Q4: 14.9% Revenue growth, TTM YoY, FY26 Q1: 15.0% Revenue growth, TTM YoY, FY26 Q2: 13.9% 13.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 20.6%
FY23 Q4 20.8%
FY24 Q1 18.7%
FY24 Q2 17.6%
FY24 Q3 17.6%
FY24 Q4 16.5%
FY25 Q1 15.8%
FY25 Q2 16.3%
FY25 Q3 15.8%
FY25 Q4 14.9%
FY26 Q1 15.0%
FY26 Q2 13.9%
Operating margin (TTM) Atricure, Inc.
-10% -5% 0% 5% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -5.8% Operating margin (TTM), FY23 Q4: -6.7% Operating margin (TTM), FY24 Q1: -7.7% Operating margin (TTM), FY24 Q2: -8.1% Operating margin (TTM), FY24 Q3: -7.6% Operating margin (TTM), FY24 Q4: -8.6% Operating margin (TTM), FY25 Q1: -7.3% Operating margin (TTM), FY25 Q2: -6.8% Operating margin (TTM), FY25 Q3: -5.1% Operating margin (TTM), FY25 Q4: -1.8% Operating margin (TTM), FY26 Q1: -0.5% Operating margin (TTM), FY26 Q2: 2.3% 2.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -5.8%
FY23 Q4 -6.7%
FY24 Q1 -7.7%
FY24 Q2 -8.1%
FY24 Q3 -7.6%
FY24 Q4 -8.6%
FY25 Q1 -7.3%
FY25 Q2 -6.8%
FY25 Q3 -5.1%
FY25 Q4 -1.8%
FY26 Q1 -0.5%
FY26 Q2 2.3%
FCF margin (TTM) Atricure, Inc.
-10% -5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -3.4% FCF margin (TTM), FY23 Q4: -1.9% FCF margin (TTM), FY24 Q1: -6.0% FCF margin (TTM), FY24 Q2: -4.6% FCF margin (TTM), FY24 Q3: -0.3% FCF margin (TTM), FY24 Q4: 0.2% FCF margin (TTM), FY25 Q1: 2.4% FCF margin (TTM), FY25 Q2: 5.1% FCF margin (TTM), FY25 Q3: 6.4% FCF margin (TTM), FY25 Q4: 9.0% FCF margin (TTM), FY26 Q1: 9.7% FCF margin (TTM), FY26 Q2: 9.3% 9.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -3.4%
FY23 Q4 -1.9%
FY24 Q1 -6.0%
FY24 Q2 -4.6%
FY24 Q3 -0.3%
FY24 Q4 0.2%
FY25 Q1 2.4%
FY25 Q2 5.1%
FY25 Q3 6.4%
FY25 Q4 9.0%
FY26 Q1 9.7%
FY26 Q2 9.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 55 59 64 70 82 107 130 155 175 202 231 207 274 330 399 465 535 570
Gross profit 42 45 47 50 60 76 93 111 126 147 170 149 206 246 300 348 401 435
EBITDA −13 −1 −3 −5 −9 −13 −22 −23 −17 −10 −26 −36 63 −35 −17 −29 3 25
Operating income −16 −3 −5 −7 −11 −16 −27 −31 −25 −17 −33 −44 55 −43 −27 −40 −9 13
Net income −16 −4 −5 −8 −11 −16 −27 −33 −27 −21 −35 −48 50 −46 −30 −45 −11 11
Diluted EPS −$1.13 −$0.25 −$0.35 −$0.47 −$0.56 −$0.61 −$0.97 −$1.05 −$0.83 −$0.62 −$0.94 −$1.14 $1.09 −$1.02 −$0.66 −$0.95 −$0.24 $0.22
Growth (year on year)
Revenue — +8.2% +9.1% +9.1% +16.6% +31.2% +20.8% +19.5% +12.6% +15.4% +14.5% −10.5% +32.8% +20.4% +20.8% +16.5% +14.9% +13.9%
EBITDA — — — — — — — — — — — — — −155.2% — — — —
Operating income — — — — — — — — — — — — — −177.3% — — — —
Net income — — — — — — — — — — — — — −192.6% — — — —
Diluted EPS — — — — — — — — — — — — — −193.6% — — — —
Margins
Gross margin 76.6% 76.9% 73.0% 71.2% 72.7% 70.5% 71.6% 71.6% 72.2% 73.0% 73.8% 72.3% 75.0% 74.4% 75.2% 74.7% 75.0% 76.3%
EBITDA margin −24.5% −1.7% −4.4% −7.6% −10.8% −12.1% −16.8% −15.1% −9.9% −4.9% −11.1% −17.6% 22.9% −10.5% −4.3% −6.2% 0.5% 4.3%
Operating margin −28.4% −5.4% −7.3% −10.2% −13.3% −15.2% −20.6% −20.1% −14.3% −8.5% −14.4% −21.4% 20.1% −12.9% −6.7% −8.6% −1.8% 2.3%
Net margin −30.2% −6.4% −8.5% −10.7% −14.0% −15.1% −21.0% −21.5% −15.4% −10.5% −15.2% −23.3% 18.3% −14.1% −7.6% −9.6% −2.1% 1.9%
Free-cash-flow margin −1.7% −3.1% −5.4% −7.0% −9.9% −25.2% −16.4% −14.7% −8.8% −5.1% −12.1% −12.2% −8.6% −11.8% −1.9% 0.2% 9.0% 9.3%
Cash flow
Cash from operations 0 −0 −2 −2 −5 −22 −8 −15 −9 −4 −16 −20 −14 −22 4 12 57 65
Capital spending 1 2 2 3 3 6 13 8 6 6 12 5 10 17 12 11 9 12
Free cash flow −1 −2 −4 −5 −8 −27 −21 −23 −15 −10 −28 −25 −24 −39 −8 1 48 53
Stock-based pay 4 3 3 3 3 8 9 12 15 16 18 23 28 29 36 40 45 47
Free cash flow after stock pay −5 −5 −6 −8 −11 −35 −30 −35 −30 −27 −46 −48 −52 −68 −43 −40 4 6
Balance sheet
Cash 9 4 10 8 15 28 24 24 22 32 28 42 44 58 84 123 167 168
Total debt 0 3 6 8 6 4 — 39 37 53 60 60 60 62 63 65 62 61
Net debt (negative = net cash) −9 −1 −3 1 −8 −24 −24 15 16 21 32 18 16 4 −21 −58 −106 −107
Diluted shares — 15m 16m 16m 20m 26m 28m 32m 32m 34m 38m 42m 46m 46m 46m 47m 48m 48m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

6 of 7 checks passed · June 30, 2026
What it owns · $677m
Short-term assets $346mLonger-term assets $331m
What it owes, and who funded it · $677m
Short-term liabilities $82mLonger-term liabilities $78mShareholders' equity $516m
  • Short-term assets cover short-term liabilities $346m of assets due within a year against $82m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $346m short-term assets against $78m of longer-dated liabilities.
  • More cash than debt $168m of cash against $61m of debt.
  • Debt below 40% of shareholders' equity Debt is 12% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 12% to 12% over five years.
  • A year's operating cash flow covers at least 20% of debt $65m of operating cash flow against $61m of debt.
  • Operating profit covers interest at least five times over Operating income of $13m against $6m of interest.

From Atricure, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+2.4%
year over year
R&D spending
17.2%
of revenue
Sales & admin spending
56.8%
of revenue
Days sales outstanding
51 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care equipment
Last 12 months unless stated ATRC BVS TMDX AORT GKOS NVCR Median
Revenue, last 12 months $570m $586m $668m $471m $690m $725m $99m
Revenue growth, last 12 months 13.9% 3.9% 25.8% 16.4% 46.9% 12.9% 9.2%
Revenue growth, 3-year average 15.9% 5.2% 64.2% 12.8% 31.5% 12.9% 13.5%
Revenue growth, latest quarter 12.8% 2.7% 20.7% 11.3% 58.0% 15.7% 10.2%
Gross margin 76.3% 68.7% 58.7% 64.4% 64.8% 77.0% 61.2%
Operating margin 2.3% 9.7% 12.2% 4.4% −25.5% −17.2% −8.5%
Operating margin, 3-year average −4.2% 4.4% 8.8% 5.9% −27.0% −24.1% −17.9%
Net margin 1.9% 9.8% 22.7% −0.7% −24.6% −16.8% −12.0%
Cash from operations / revenue 11.4% 14.9% 21.8% 8.8% 6.9% −0.1% −1.9%
Free-cash-flow margin 9.3% 14.5% 11.8% −1.9% 5.2% −3.4% −3.9%
Free-cash-flow margin, 3-year average 3.3% 9.7% −13.0% 0.7% −7.7% −9.0% −7.0%
Stock pay / revenue 8.3% 2.8% 5.5% 5.7% 12.0% 16.2% 6.1%
Change in share count 2.4% 6.2% 4.8% 21.0% 3.8% 3.9% 4.0%

Median of all 134 companies we cover in health care equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

134 health care equipment companies
Measure Company Peer median Rank
Revenue growth Growth 13.9% 9.1% 51 of 129
Change in growth rate Growth -1.1pp -0.6pp 76 of 129
Gross margin Profitability 76.3% 61.9% 28 of 123
Operating margin Profitability 2.3% -8.3% 44 of 132
Net margin Profitability 1.9% -12.0% 41 of 133
Free-cash-flow margin Cash generation 9.3% -3.4% 32 of 128
Stock pay as % of revenue Cash generation 8.3% 6.1% 71 of 123
Long-term debt as % of assets Balance sheet 9.0% 24.2% 24 of 87
Change in share count Balance sheet 2.4% 3.3% 49 of 115
Days sales outstanding Balance sheet 51 days 57 days 47 of 118

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue Share YoY
United States $435M 81.4% ▲ 13.7%
Outside the US $99.2M 18.6% ▲ 20.2%
Europe $61.5M 62.0% ▲ 23.3%
Asia Pacific $30.7M 31.0% ▲ 12.2%
Other International $6.9M 7.0% ▲ 32.5%

From Atricure, Inc.'s 10-K filed February 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.5B
Institutions reporting
252
Shares held vs prior quarter
▲ 5.7%
Positions opened / closed
50 / 21

Top buyers and sellers, Q2 2026: 151 institutions bought and 82 sold ; the biggest buyer was Arrowstreet Capital, Limited Partnership (+1.0M shares) and the biggest seller Voya Investment Management LLC (−691K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $125M 4.5M 8.4% ▲ 10.7%
Wellington Management Group LLP $97.8M 3.5M 6.6% ▲ 3.3%
Vanguard Portfolio Management LLC $87.5M 3.1M 5.9% ▲ 15.7%
Hood River Capital Management LLC $81.3M 2.9M 5.5% ▼ 6.8%
Alliancebernstein L.P. $79M 2.8M 5.3% ▼ 15.1%
Vanguard Capital Management LLC $61.3M 2.2M 4.1% ▲ 1.6%
Nomura Asset Management International Inc. $48.5M 1.7M 3.3% ▼ 3.9%
Goldman Sachs Group Inc $44.7M 1.6M 3.0% ▼ 4.1%
State Street Corp $38.9M 1.4M 2.6% ▲ 6.7%
Marshall Wace, LLP $37.3M 1.3M 2.5% ▼ 9.1%
Geode Capital Management, LLC $36.9M 1.3M 2.5% ▲ 7.6%
Arrowstreet Capital, Limited Partnership $36.3M 1.3M 2.4% ▲ 366.8%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Atricure, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $4.4M 17 trades by 8 insiders · 20% under pre-set plans
Net ▼ $4.4M net selling
Insider Date Trade Shares Price Value
Privitera Salvatore Chief Technical Officer September 23, 2026 Sell pre-set plan 4,519 $60.00 $271,140
Groves Regina E Director September 11, 2026 Sell 5,313 $54.22 $288,071
Privitera Salvatore Chief Technical Officer September 8, 2026 Sell pre-set plan 3,657 $55.00 $201,135
Privitera Salvatore Chief Technical Officer September 2, 2026 Sell pre-set plan 7,763 $52.50 $407,558
Dahlquist Karl S. Chief Legal Officer August 24, 2026 Sell 9,370 $48.89 $458,099
Yuen Maggie Director August 5, 2026 Sell 3,500 $38.42 $134,470
Prange Karen Director August 5, 2026 Sell 3,564 $38.80 $138,283
Noznesky Justin J Chief Mktg & Strategy Officer July 29, 2026 Sell 6,182 $38.80 $239,862
Wehrwein Sven Director July 28, 2026 Sell 25,000 $37.84 $946,000
Doraiswamy Vinayak Chief Scientific Officer July 28, 2026 Sell 6,000 $38.88 $233,280
Prange Karen Director May 20, 2026 Sell 3,000 $28.65 $85,950
Doraiswamy Vinayak Chief Scientific Officer May 15, 2026 Sell 5,000 $28.13 $140,650

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 13 trades and filings

In the last 12 months, 1 member of Congress disclosed 2 purchases and 1 sale of Atricure, Inc. shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded September 29, 2026, filed October 12, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded August 20, 2026, filed September 10, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded March 3, 2026, filed April 7, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around October 7, 2026 estimated from the company's past filing pattern, not announced

  • July 23, 2026
  • May 5, 2026
  • February 17, 2026
  • January 12, 2026
  • October 29, 2025
  • July 29, 2025

Recent SEC filings

Data status

When each part of this page on Atricure, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Atricure, Inc. in brief

What does Atricure, Inc. do?
Atricure, Inc. is a US-listed company in the health care equipment industry. Its financial year ends in December.
What is Atricure, Inc.'s stock ticker?
Atricure, Inc. trades under the ticker ATRC on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Atricure, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Atricure, Inc. reported revenue of $570M, 13.9% higher than a year earlier, according to its SEC filings.
What is Atricure, Inc.'s free cash flow?
Atricure, Inc.'s free-cash-flow margin is 9.3% of revenue over the trailing twelve months, ranking 32 of the 128 health care equipment companies we cover.
Who are Atricure, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Wellington Management Group LLP and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Atricure, Inc.'s market cap?
On November 2, 2026, Atricure, Inc.'s market capitalisation was about $2.9B, with a price-to-earnings ratio of 274.9 and net debt of -$107M. Market figures come from third-party market data and may be delayed.
How much debt does Atricure, Inc. have?
Atricure, Inc.'s debt-to-equity ratio is 11.8%, from its latest balance sheet (12.3% five years earlier). The financial health section below sets out its other solvency checks.
Who are Atricure, Inc.'s competitors?
In our Health Care Equipment peer group, the companies closest to Atricure, Inc. are Bioventus Inc., Transmedics Group, Inc., Artivion, Inc., Glaukos Corp and Novocure Ltd. The side-by-side comparison below sets their revenue, margins and growth against Atricure, Inc.'s.
Are insiders buying or selling Atricure, Inc. stock?
Over the last 12 months, Atricure, Inc.'s directors and officers reported 0 open-market purchases and 17 sales on Form 4. The insider trading page charts every trade.
When is Atricure, Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Atricure, Inc. announces its own schedule.