AtriCure (Nasdaq: ATRC) delivers Q2 2026 profit and sets 2026 outlook
Rhea-AI Filing Summary
AtriCure, Inc. reported strong second quarter 2026 results, with worldwide revenue of $153.6 million, up 12.8% year over year (12.4% on a constant currency basis). U.S. revenue grew to $125.6 million, driven by cryoSPHERE MAX pain management probes, EnCompass clamps, and AtriClip FLEX-Mini and PRO-Mini devices; international revenue rose to $28.0 million.
Gross profit increased to $118.6 million and gross margin expanded to 77.2%, supported by favorable product and geographic mix and manufacturing efficiencies. The company generated income from operations of $9.7 million versus an operating loss a year earlier and net income of $9.0 million, or $0.18 per basic and diluted share, compared with a net loss of $6.2 million, or $0.13 per share, in second quarter 2025.
Adjusted EBITDA reached $27.3 million, up $11.9 million or 78% from the prior-year quarter, and cash generation was $21.6 million. For full year 2026, management projects revenue of $602 million to $610 million, adjusted EBITDA of $85 million to $89 million, net income per share of $0.05 to $0.13, and adjusted earnings per share of $0.24 to $0.32, with continued positive cash generation.
Positive
- Q2 2026 revenue grew 12.8% to $153.6 million, with both U.S. and international markets contributing, led by pain management and appendage management product lines.
- Profitability improved substantially, as gross margin rose to 77.2%, operating income was $9.7 million, and net income reached $9.0 million after a loss in the prior-year quarter.
- 2026 guidance points to continued growth and profitability, with projected revenue of $602–$610 million, adjusted EBITDA of $85–$89 million, and positive GAAP and adjusted earnings per share.
Negative
- None.
Filing Explained
The July 23 8-K reports completed second-quarter results and June 30 cash of $167,786 thousand alongside $61,000 thousand of long-term debt.
This Item 2.02 Form 8-K reports AtriCure’s historical second-quarter results for the quarter ended
The filing also reports period-end balances of cash and cash equivalents of
Those amounts are balance-sheet balances at the reporting date, while the full-year 2026 financial outlook remains projected rather than historical.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Q2 2026 worldwide revenue: $153.6 million
Q2 2026 revenue growth: 12.8%
Q2 2026 gross margin: 77.2%
+5 more
8 metrics
Q2 2026 worldwide revenue
$153.6 million
Worldwide revenue for the second quarter 2026
Q2 2026 revenue growth
12.8%
Increase over second quarter 2025 revenue (12.4% constant currency)
Q2 2026 gross margin
77.2%
Gross margin for the second quarter 2026
Q2 2026 net income
$9.0 million
Net income for the second quarter 2026
Q2 2026 adjusted EBITDA
$27.3 million
Adjusted EBITDA for the second quarter 2026
2026 revenue guidance
$602 million to $610 million
Projected full year 2026 revenue range
2026 adjusted EBITDA guidance
$85 million to $89 million
Projected full year 2026 adjusted EBITDA
2026 adjusted EPS guidance
$0.24 to $0.32
Projected full year 2026 adjusted earnings per share
Key Terms
adjusted EBITDA, constant currency, acquired in-process research & development, forward-looking statements, +1 more
5 terms
adjusted EBITDA financial
"Adjusted EBITDA for the second quarter 2026 was $27.3 million, an increase of $11.9 million or 78%."
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
constant currency financial
"an increase of 12.8% over second quarter 2025 revenue (12.4% on a constant currency basis)."
Constant currency is a way of measuring financial results that removes the effects of changes in currency exchange rates. It allows for a clearer comparison of a company's performance over time by showing what the numbers would look like if exchange rates had stayed the same. This helps investors understand whether growth comes from actual business improvements or just currency fluctuations.
acquired in-process research & development financial
"Acquired in-process research & development expense | — | | | 5,000 |"
forward-looking statements regulatory
"certain statements in this press release, including financial guidance and outlook, are forward-looking statements."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Hybrid AF™ Therapy medical
"AtriCure’s Hybrid AF™ Therapy is a minimally invasive procedure that provides a lasting solution for long-standing persistent Afib."
Earnings Snapshot
Revenue: $153.6 million · Guidance included
Three months ended June 30, 2026
Revenue
$153.6 million
Up 12.8% year over year (12.4% on a constant currency basis).
Net income
$9.0 million
Improved from a net loss of $6.2 million in second quarter 2025.
Adjusted EBITDA
$27.3 million
Increased by $11.9 million or 78% from the second quarter 2025.
Basic and diluted EPS
$0.18
Improved from a basic and diluted net loss per share of $0.13 a year earlier.
Guidance
For full year 2026, revenue is projected at $602 million to $610 million, adjusted EBITDA at $85 million to $89 million, net income per share at $0.05 to $0.13, adjusted earnings per share at $0.24 to $0.32, and management expects continued positive cash generation.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What were AtriCure (ATRC)'s Q2 2026 revenues and growth rate?
AtriCure reported Q2 2026 worldwide revenue of $153.6 million, representing 12.8% year-over-year growth (12.4% on a constant currency basis). U.S. revenue reached $125.6 million and international revenue was $28.0 million, reflecting broad-based contribution across product franchises.
How profitable was AtriCure (ATRC) in the second quarter of 2026?
AtriCure generated Q2 2026 net income of $9.0 million, or $0.18 per basic and diluted share. Income from operations was $9.7 million, versus an operating loss a year earlier, and adjusted EBITDA was $27.3 million, up 78% from second quarter 2025.
What 2026 financial guidance did AtriCure (ATRC) provide?
For 2026, AtriCure projected revenue of $602 million to $610 million and adjusted EBITDA of $85 million to $89 million. Management also expects net income per share of $0.05–$0.13 and adjusted earnings per share of $0.24–$0.32, with continued positive cash generation.
Which product lines drove AtriCure (ATRC)'s Q2 2026 revenue growth?
Q2 2026 growth was driven by pain management and appendage management, along with open ablation products. U.S. gains reflected strong sales of the cryoSPHERE MAX probe, EnCompass clamp, and AtriClip FLEX-Mini and PRO-Mini devices, with international growth across similar franchises.
What were AtriCure (ATRC)'s Q2 2026 gross margin and cash generation?
AtriCure achieved a Q2 2026 gross margin of 77.2%, up 269 basis points from a year earlier, driven by mix and efficiencies. The company also reported second-quarter 2026 cash generation of $21.6 million, supporting its outlook for continued positive cash generation in 2026.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) of the
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 23, 2026
(Exact name of registrant as specified in charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of Principal Executive Offices, and Zip Code)
(513 ) 755-4100
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02. Results of Operations and Financial Condition.
On July 23, 2026 , AtriCure, Inc. issued a press release regarding its financial results for the second quarter ended June 30, 2026. The Company will hold a conference call on July 23, 2026 at 4:30 p.m. Eastern Time to discuss the financial results. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
The information in Item 2.02 of Form 8-K and in the press release attached as Exhibit 99.1 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in Item 2.02 of this Form 8-K and Exhibit 99.1 shall not be incorporated by reference in any filing or other document under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing or document.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits
| No. | Description | |||||||
| 99.1 | Press Release dated July 23, 2026, relating to financial results for the second quarter ended June 30, 2026. | |||||||
| 104 | Cover Page Interactive Data File--the cover page XBRL tags are embedded within the Inline XBRL document. | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ATRICURE, INC. | |||||||||||
| Dated: | By: | /s/ Angela L. Wirick | |||||||||
| Angela L. Wirick | |||||||||||
| Chief Financial Officer | |||||||||||
 | Exhibit 99.1 | ||||
For immediate release
July 23, 2026
AtriCure Reports Second Quarter 2026 Financial Results
•Second Quarter 2026 worldwide revenue of $153.6 million, an increase of 12.8% year over year
•Second Quarter 2026 profitability strengthened, with net income of $9.0 million and adjusted EBITDA of $27.3 million
•Second Quarter 2026 cash generation of $21.6 million
MASON, Ohio, July 23, 2026 – AtriCure, Inc. (Nasdaq: ATRC), a leading innovator in surgical treatments and therapies for atrial fibrillation (Afib), left atrial appendage (LAA) management and post-operative pain management, today announced second quarter 2026 financial results.
“Our team delivered healthy growth and a significant step up in profitability in the second quarter,” said Michael Carrel, President and Chief Executive Officer. “Our innovative technologies continue to prove their value, with strong growth in pain management bolstering our leading cardiac surgery portfolio. Meanwhile, we are rapidly advancing our BoxX-NoAF and LeAAPS clinical trials towards data readouts that we believe will inform and drive the next era of cardiac surgery patient care and growth for AtriCure. We remain confident in our ability to create lasting value for patients and shareholders.”
Second Quarter 2026 Financial Results
Worldwide revenue for the second quarter 2026 was $153.6 million, an increase of 12.8% over second quarter 2025 revenue (12.4% on a constant currency basis). U.S. revenue was $125.6 million, an increase of $15.0 million or 13.6%, compared to the second quarter 2025. U.S. revenue growth was driven by sales of our cryoSPHERE® MAX™ probe for post-operative pain management, EnCompass® clamp in open ablation, and AtriClip FLEX-Mini® and AtriClip PRO-Mini® devices for appendage management. International revenue increased $2.5 million or 9.6% (7.1% on a constant currency basis) to $28.0 million, with growth in appendage management, open ablation, and pain management franchises.
Gross profit for the second quarter 2026 was $118.6 million compared to $101.5 million for the second quarter 2025. Gross margin was 77.2% for the second quarter 2026, an increase of 269 basis points from the second quarter 2025, driven primarily by favorable product and geographic mix, along with manufacturing efficiencies. Income from operations for the second quarter 2026 was $9.7 million, compared to a loss from operations of $6.2 million for the second quarter 2025. Basic and diluted net income per share were $0.18 for the second quarter 2026, compared to basic and diluted net loss per share of $0.13 for the second quarter 2025.
Adjusted EBITDA for the second quarter 2026 was $27.3 million, an increase of $11.9 million or 78% from the second quarter 2025. For the second quarter 2026, adjusted earnings per share was $0.18, compared to $0.02 adjusted loss per share for the second quarter 2025.
Constant currency revenue, adjusted EBITDA and adjusted earnings (loss) per share are non-GAAP financial measures. We discuss these non-GAAP financial measures and provide reconciliations to GAAP measures later in this release.
2026 Financial Guidance
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. 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. Additionally, management expects continued positive cash generation for 2026.
Conference Call
AtriCure will host a conference call at 4:30 p.m. Eastern Time on Thursday, July 23, 2026, to discuss second quarter 2026 financial results. To access the webcast, please visit the Investors page of AtriCure’s corporate website at https://ir.atricure.com/events-and-presentations/events. Participants are encouraged to register more than 15 minutes before the webcast start time. A replay of the presentation will be available for 90 days following the presentation.
About AtriCure
AtriCure, Inc. provides innovative technologies for the treatment of Afib and related conditions. Afib affects more than 59 million people worldwide. Surgeons around the globe use AtriCure technologies for the treatment of Afib, reduction of Afib related complications, and post-operative pain management. AtriCure’s Isolator® Synergy™ Ablation System is the first medical device to receive FDA approval for the treatment of persistent Afib. AtriCure’s AtriClip® Left Atrial Appendage Exclusion System products are the most widely sold LAA management devices worldwide. AtriCure’s Hybrid AF™ Therapy is a minimally invasive procedure that provides a lasting solution for long-standing persistent Afib patients. AtriCure’s cryoICE cryoSPHERE® and cryoXT® probes are cleared for temporary ablation of peripheral nerves to block pain, providing pain relief in cardiac, thoracic and amputation procedures. For more information, visit AtriCure.com or follow us on X @AtriCure.
Forward-Looking Statements
Except for historical information, certain statements in this press release, including financial guidance and outlook, are forward-looking in nature and are subject to risks, uncertainties and assumptions about us. Our business and operations are subject to a variety of risks and uncertainties and, consequently, actual results may differ materially from those projected by any forward-looking statements. These risks and uncertainties include, but are not limited to, the following: our estimate of the market for our products; the rate and degree of market acceptance of our products; negative clinical data; competition from existing and new products and procedures, including the development of drugs or catheter-based technologies; our reliance on independent distributors to sell our products; inventory-related charges; the timing of and ability to obtain and maintain regulatory clearances and approvals for our products; impacts of rising healthcare costs; our ability to comply with extensive FDA regulations; the timing of and ability to obtain third party payor reimbursement of procedures utilizing our products; unfavorable publicity; the potential impact of any acquisitions, mergers, dispositions, joint ventures or investments we may make; disruptions to our manufacturing operations; the impact of tariffs or other restrictive trade measures; our failure to properly manage growth; disruptions of critical information systems or material breaches in the security of our systems; our ability to manage our intellectual property rights to provide meaningful protection; fluctuation of quarterly financial results; fluctuations in foreign currency exchange rates; reliance on third party manufacturers and suppliers; and litigation, administrative or other proceedings. These risks and uncertainties, as well as others, are discussed in greater detail in our filings with the Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 19, 2026. 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. Any forward-looking statements are based on our current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. We make no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change.
Use of Non-GAAP Financial Measures
To supplement AtriCure’s condensed consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, AtriCure provides certain non-GAAP financial measures in this release as supplemental financial metrics.
Revenue reported on a constant currency basis is a non-GAAP measure, calculated by applying previous period foreign currency exchange rates to each of the comparable periods. Management analyzes revenue on a constant currency basis to better measure the comparability of results between periods. Because changes in foreign currency exchange rates have a non-operating impact on revenue, the Company believes that evaluating growth in revenue on a constant currency basis provides an additional and meaningful assessment of revenue for both management and investors.
Adjusted EBITDA is calculated as net income (loss) before other income/expense (including interest), income tax expense, depreciation and amortization expense, share-based compensation expense, and non-recurring charges that are not reflective of the operational results of the Company’s core business and may affect comparability of results period-over-period. Non-recurring charges include acquisition costs, acquired-in-process research and development (IPR&D) and related milestone payments arising from asset acquisitions, legal settlement costs, impairment of intangible assets and changes in fair value of contingent consideration liabilities.
Management believes in order to properly understand short-term and long-term financial trends, investors may wish to consider the impact of these excluded items in addition to GAAP measures. The excluded items vary in frequency and/or impact on our continuing results of operations and management believes that the excluded items are typically not reflective of our ongoing core business operations and financial condition. Further, management uses adjusted EBITDA for both strategic and annual operating planning. A reconciliation of adjusted EBITDA reported in this release to the most comparable GAAP measure for
the respective periods appears in the table captioned “Reconciliation of Non-GAAP Adjusted Income (Adjusted EBITDA)” later in this release.
Adjusted earnings (loss) per share is a non-GAAP measure which calculates the net income (loss) per share before non-cash adjustments in fair value of contingent consideration liabilities, acquired IPR&D and related milestone payments arising from asset acquisitions, legal settlement costs, impairment of intangible assets and debt extinguishment.
The non-GAAP financial measures used by AtriCure may not be the same or calculated in the same manner as those used and calculated by other companies. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for AtriCure’s financial results prepared and reported in accordance with GAAP. We urge investors to review the reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures included in this press release, and not to rely on any single financial measure to evaluate our business.
CONTACTS:
Angie Wirick
AtriCure, Inc.
Chief Financial Officer
(513) 755-5334
awirick@atricure.com
Marissa Bych
Gilmartin Group
Investor Relations
(415) 937-5402
marissa@gilmartinir.com
ATRICURE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In Thousands, Except Per Share Amounts)
(Unaudited)
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| United States Revenue: | |||||||||||||||||||||||
| Open ablation | $ | 40,885 | $ | 36,468 | $ | 79,965 | $ | 69,776 | |||||||||||||||
| Minimally invasive ablation | 6,031 | 7,839 | 12,417 | 16,319 | |||||||||||||||||||
| Pain management | 27,058 | 21,168 | 49,417 | 38,438 | |||||||||||||||||||
| Appendage management | 51,614 | 45,108 | 99,994 | 87,199 | |||||||||||||||||||
| Total United States | 125,588 | 110,583 | 241,793 | 211,732 | |||||||||||||||||||
| International Revenue: | |||||||||||||||||||||||
| Open ablation | 11,243 | 10,349 | 20,759 | 19,344 | |||||||||||||||||||
| Minimally invasive ablation | 2,020 | 2,372 | 3,933 | 4,385 | |||||||||||||||||||
| Pain management | 2,380 | 2,033 | 4,370 | 3,822 | |||||||||||||||||||
| Appendage management | 12,373 | 10,802 | 23,998 | 20,476 | |||||||||||||||||||
| Total International | 28,016 | 25,556 | 53,060 | 48,027 | |||||||||||||||||||
| Total 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), net | (239) | 263 | (371) | (291) | |||||||||||||||||||
| 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) | |||||||||||||||
| Basic net income (loss) per share | $ | 0.18 | $ | (0.13) | $ | 0.19 | $ | (0.27) | |||||||||||||||
| Diluted net income (loss) per share | $ | 0.18 | $ | (0.13) | $ | 0.18 | $ | (0.27) | |||||||||||||||
| Weighted average shares used in computing net income (loss) per share: | |||||||||||||||||||||||
| Basic | 48,667 | 47,721 | 48,501 | 47,557 | |||||||||||||||||||
| Diluted | 48,868 | 47,721 | 49,094 | 47,557 | |||||||||||||||||||
ATRICURE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In Thousands)
(Unaudited)
| June 30, 2026 | December 31, 2025 | ||||||||||
| Assets | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 167,786 | $ | 167,428 | |||||||
| Accounts receivable, net | 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 | |||||||||
| Goodwill and intangible assets, net | 278,039 | 282,807 | |||||||||
| Other noncurrent assets | 4,582 | 2,864 | |||||||||
| Total Assets | $ | 676,643 | $ | 654,179 | |||||||
| Liabilities and Stockholders' Equity | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable and accrued liabilities | $ | 78,743 | $ | 78,399 | |||||||
| 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 | |||||||||
| Stockholders' Equity: | |||||||||||
| Common stock | 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 | |||||||
ATRICURE, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP RESULTS TO NON-GAAP RESULTS
(In Thousands)
(Unaudited)
Reconciliation of Non-GAAP Adjusted Income (Adjusted EBITDA)
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net income (loss), as reported | $ | 8,955 | $ | (6,190) | $ | 9,063 | $ | (12,937) | |||||||||||||||
| Income tax expense | 471 | 261 | 757 | 500 | |||||||||||||||||||
| Other expense (income), net | 239 | (263) | 371 | 291 | |||||||||||||||||||
| Depreciation and amortization expense | 5,307 | 5,171 | 10,580 | 10,255 | |||||||||||||||||||
| Share-based compensation expense | 12,313 | 11,371 | 23,586 | 21,001 | |||||||||||||||||||
| Acquired in-process research & development expense | — | 5,000 | — | 5,000 | |||||||||||||||||||
| Non-GAAP adjusted income (adjusted EBITDA) | $ | 27,285 | $ | 15,350 | $ | 44,357 | $ | 24,110 | |||||||||||||||
Reconciliation of Non-GAAP Adjusted Earnings (Loss) Per Share
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net income (loss), as reported | $ | 8,955 | $ | (6,190) | $ | 9,063 | $ | (12,937) | |||||||||||||||
| Acquired in-process research & development expense | — | 5,000 | — | 5,000 | |||||||||||||||||||
| Non-GAAP adjusted net income (loss) | $ | 8,955 | $ | (1,190) | $ | 9,063 | $ | (7,937) | |||||||||||||||
| Adjusted earnings (loss) per share | $ | 0.18 | $ | (0.02) | $ | 0.19 | $ | (0.17) | |||||||||||||||
| Adjusted earnings (loss) per diluted share | $ | 0.18 | $ | (0.02) | $ | 0.18 | $ | (0.17) | |||||||||||||||
| Weighted average shares used in computing adjusted earnings (loss) per share | |||||||||||||||||||||||
| Basic | 48,667 | 47,721 | 48,501 | 47,557 | |||||||||||||||||||
| Diluted | 48,868 | 47,721 | 49,094 | 47,557 | |||||||||||||||||||