$ATRC

AtriCure, Inc.

CIK:0001323885|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 153,604	$ 136,139	$ 294,853	$ 259,759
Cost of revenue	34,975	34,657	66,913	65,649
Gross profit	118,629	101,482	227,940	194,110
Operating expenses:
Research and development expenses	26,402	29,284	50,637	51,812
Selling, general and administrative expenses	82,562	78,390	167,112	154,444
Total operating expenses	108,964	107,674	217,749	206,256
Income (loss) from operations	9,665	(6,192)	10,191	(12,146)
Other income (expense):
Interest expense	(1,318)	(1,490)	(2,658)	(2,906)
Interest income	1,179	941	2,424	1,983
Other income (expense)	(100)	812	(137)	632
Income (loss) before income tax expense	9,426	(5,929)	9,820	(12,437)
Income tax expense	471	261	757	500
Net income (loss)	$ 8,955	$ (6,190)	$ 9,063	$ (12,937)
Net income (loss) per share
Basic net income (loss) per share (in usd per share)	$ 0.18	$ (0.13)	$ 0.19	$ (0.27)
Diluted net income (loss) per share (in usd per share)	$ 0.18	$ (0.13)	$ 0.18	$ (0.27)
Weighted average shares outstanding
Basic (in shares)	48,667	47,721	48,501	47,557
Diluted (in shares)	48,868	47,721	49,094	47,557
Comprehensive income (loss):
Foreign currency translation adjustment	$ (126)	$ 979	$ (465)	$ 1,784
Net income (loss)	8,955	(6,190)	9,063	(12,937)
Comprehensive income (loss), net of tax	$ 8,829	$ (5,211)	$ 8,598	$ (11,153)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ 9,063	$ (12,937)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Share-based compensation expense	23,586	21,001
Depreciation	5,812	6,034
Amortization of intangible assets	4,768	4,221
Amortization of deferred financing costs	210	239
Acquired in-process research and development expense	0	5,000
Other non-cash adjustments	1,177	311
Changes in operating assets and liabilities:
Accounts receivable	(13,780)	(4,844)
Inventories	(5,641)	(74)
Other current assets	(3,961)	(1,482)
Accounts payable	9,017	(45)
Accrued liabilities	(10,060)	(5,832)
Other noncurrent assets and liabilities	(1,995)	(1,001)
Net cash provided by operating activities	18,196	10,591
Cash flows from investing activities:
Purchases of property and equipment	(7,618)	(4,843)
Acquisitions, including in-process research and development	0	(5,000)
Proceeds from capital grant	0	500
Net cash used in investing activities	(7,618)	(9,343)
Cash flows from financing activities:
Payments on debt, leases and financing obligation	(1,528)	(579)
Payment of financing costs and debt fees	(779)	0
Shares repurchased for payment of taxes on stock awards	(11,756)	(10,578)
Proceeds from stock option exercises and employee stock purchase plan	4,070	4,251
Net cash used in financing activities	(9,993)	(6,906)
Effect of exchange rate changes on cash and cash equivalents	(227)	733
Net increase (decrease) in cash and cash equivalents	358	(4,925)
Cash and cash equivalents—beginning of period	167,428	122,721
Cash and cash equivalents—end of period	167,786	117,796
Supplemental cash flow information:
Cash paid for interest	2,385	2,574
Cash paid for taxes, net of refunds	1,053	882
Non-cash investing and financing activities:
Accrued purchases of property and equipment	$ 2,989	$ 895

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 167,786	$ 167,428
Accounts receivable, less allowance for credit losses of $1,000 and $750	79,981	66,653
Inventories	83,925	78,492
Prepaid and other current assets	13,839	9,944
Total current assets	345,531	322,517
Property and equipment, net	42,422	39,123
Operating lease right-of-use assets	6,069	6,868
Intangible assets, net	43,258	48,026
Goodwill	234,781	234,781
Other noncurrent assets	4,582	2,864
Total Assets	676,643	654,179
Current liabilities:
Accounts payable	35,850	25,310
Accrued liabilities	42,893	53,089
Other current liabilities	3,173	3,121
Total current liabilities	81,916	81,520
Long-term debt	61,000	61,865
Finance and operating lease liabilities	10,048	11,516
Other noncurrent liabilities	7,246	7,343
Total Liabilities	160,210	162,244
Commitments and contingencies (Note 8)
Stockholders’ Equity:
Common stock, $0.001 par value, 90,000 shares authorized and 50,863 and 49,792 issued and outstanding	51	50
Additional paid-in capital	920,421	904,522
Accumulated other comprehensive income	101	566
Accumulated deficit	(404,140)	(413,203)
Total Stockholders’ Equity	516,433	491,935
Total Liabilities and Stockholders’ Equity	$ 676,643	$ 654,179