AtriCure, Inc. (ATRC)

AtriCure, Inc. engages in the development, manufacture, and sale of devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, the Asia-Pacific, and internationally. It offers Isolator Synergy Ablation System clamps, a single-use disposable radio frequency products; multifunctional pens and linear ablation devices, a single-use disposable RF products for the treatment of cardiac arrhythmias; cryoICE Cryoablation System that enables the user to make linear ablations of varied lengths; and EPi-Sense Systems, a single-use disposable device used for the treatment of symptomatic, drug-refractory, and long-standing persistent atrial fibrillation. It also provides cryoSPHERE probe, which provides temporary pain relief by applying cryothermic energy to targeted intercoastal peripheral nerves in the ribcage; AtriClip System, an implantable device coupled to a single-use disposable applier; cryoXT probes, a cryoablation device designed specifically for Cryo Nerve Block therapy; LARIAT System, a solution for soft-tissue closure; Lumitip dissectors to separate tissues to provide access to key anatomical structures that are targeted for ablation; Glidepath guides for placement of clamps; and Subtle Cannula's to support access for EPi-Sense catheters. In addition, the company sells various reusable cardiac surgery instruments. It markets and sells its products through independent distributors and direct sales personnel. The company was incorporated in 2000 and is headquartered in Mason, Ohio.

Ticker
ATRC
Exchange
Nasdaq
Sector
Healthcare
Industry
Medical Instruments & Supplies
Market cap
$2.98B
52-week range
$25.36 - $66.02

Valuation

Share price
$58.54 (close of Nov 6, 2026)
P/E (TTM)
193.69x
Price to book
5.59x
Price to free cash flow
56.30x
Enterprise value
$2.89B
Book value per share
$10.47

Price performance

PeriodChange
1 day-4.47%
5 days-4.42%
1 month+9.05%
3 months+48.24%
6 months+109.00%
Year to date+47.98%
1 year+85.84%
3 years+54.62%
5 years-32.82%
10 years+239.36%
All time+315.77%

Short interest

As of
Oct 15, 2026
Short % of float
9.99%
Shares short
4.89M
Days to cover
5.21
Change since prior report
+1.40%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
-2.33%
Return on invested capital
-1.67%
Return on assets
-1.75%
Return on capital employed
-1.65%
Gross margin
74.98%
Net margin
-2.14%
EBITDA margin
2.07%
Revenue growth
14.88%

Cash flow and balance sheet

Free cash flow yield (TTM)
1.78%
Current ratio
4.33x
Net debt to EBITDA
-2.18x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$534.53M
Cost of revenue
$133.75M
Gross profit
$400.78M
EBITDA
$11.08M
Net income
-$11.45M
Earnings per share
$-0.24
Research and development
$99.21M
Interest expense
$5.88M
Shares outstanding
47.75M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$534.53M$400.78M-$11.45M-$0.24
2024-12-31$465.31M$347.52M-$44.70M-$0.95
2023-12-31$399.25M$300.37M-$30.44M-$0.66
2022-12-31$330.38M$245.94M-$46.47M-$1.02
2021-12-31$274.33M$205.86M$50.20M$1.11
2020-12-31$206.53M$149.31M-$48.16M-$1.14
2019-12-31$230.81M$170.34M-$35.19M-$0.94
2018-12-31$201.63M$147.12M-$21.14M-$0.62
2017-12-31$174.72M$126.16M-$26.89M-$0.83
2016-12-31$155.11M$111.10M-$33.34M-$1.05

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3174.98%-2.14%-2.33%-1.67%
2024-12-3174.69%-9.61%-9.70%-7.48%
2023-12-3175.23%-7.62%-6.53%-4.94%
2022-12-3174.44%-14.06%-10.17%-8.03%
2021-12-3175.04%18.30%10.38%9.83%
2020-12-3172.29%-23.32%-11.68%-9.09%
2019-12-3173.80%-15.25%-14.23%-10.23%
2018-12-3172.97%-10.48%-8.48%-5.92%
2017-12-3172.21%-15.39%-16.69%-13.44%
2016-12-3171.63%-21.49%-19.79%-16.05%

Cash and debt by year

Period endCashDebt
2025-12-31$167.43M$61.87M
2024-12-31$122.72M$61.87M
2023-12-31$137.28M$60.59M
2022-12-31$121.11M$56.83M
2021-12-31$119.09M$59.74M
2020-12-31$244.22M$53.44M
2019-12-31$81.80M$59.63M
2018-12-31$124.40M$35.57M
2017-12-31$34.45M$24.10M
2016-12-31$44.01M$23.89M

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$48.28M$44.69M
2024-12-31$745.00K$40.41M
2023-12-31-$7.51M$35.73M
2022-12-31-$39.02M$28.77M
2021-12-31-$23.53M$28.08M
2020-12-31-$25.13M$22.64M
2019-12-31-$27.99M$17.98M
2018-12-31-$10.38M$16.50M
2017-12-31-$15.33M$14.62M
2016-12-31-$22.81M$11.70M

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-11-03Sep 2026$0.01
2026-07-23Jun 2026$0.03
2026-05-05Mar 2026-$0.07
2026-02-17Dec 2025-$0.03
2025-10-29Sep 2025-$0.11
2025-07-29Jun 2025-$0.15
2025-04-29Mar 2025-$0.25
2025-02-12Dec 2024-$0.15

Filings and sources

Company website
atricure.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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