AtriCure (ATRC) financial statements
AtriCure reported revenue of $535M in fiscal 2025, up 14.7% a year over 9 years.
Net income was -$11M and the operating margin -1.8%, against -20.1% in 2016.
Free cash flow was $48M.
The diluted share count rose 51% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from AtriCure's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $155M | $175M | $202M | $231M | $207M | $274M | $330M | $399M | $465M | $535M |
| Cost of revenue | $44M | $49M | $55M | $60M | $57M | $68M | $84M | $99M | $118M | $134M |
| Gross profit | $111M | $126M | $147M | $170M | $149M | $206M | $246M | $300M | $348M | $401M |
| Research and development | $36M | $34M | $35M | $41M | $43M | $49M | $57M | $74M | $96M | $99M |
| Selling, general and admin | $106M | $117M | $130M | $167M | $151M | $205M | $231M | $253M | $291M | $311M |
| Operating income | -$31M | -$25M | -$17M | -$33M | -$44M | $55M | -$43M | -$27M | -$40M | -$9M |
| Interest expense | $2M | $2M | $5M | $4M | $5M | $5M | $5M | $7M | $6M | $6M |
| Pre-tax income | -$33M | -$27M | -$21M | -$35M | -$48M | $50M | -$46M | -$30M | -$44M | -$10M |
| Income tax | $40,000 | $14,000 | $226,000 | $199,000 | $114,000 | $188,000 | $268,000 | $591,000 | $1M | $1M |
| Net income | -$33M | -$27M | -$21M | -$35M | -$48M | $50M | -$46M | -$30M | -$45M | -$11M |
| EPS (diluted) | -$1.05 | -$0.83 | -$0.62 | -$0.94 | -$1.14 | $1.09 | -$1.02 | -$0.66 | -$0.95 | -$0.24 |
| Diluted shares | 32M | 32M | 34M | 38M | 42M | 46M | 46M | 46M | 47M | 48M |
| Gross margin | 71.6% | 72.2% | 73.0% | 73.8% | 72.3% | 75.0% | 74.4% | 75.2% | 74.7% | 75.0% |
| Operating margin | -20.1% | -14.3% | -8.5% | -14.4% | -21.4% | 20.1% | -12.9% | -6.7% | -8.6% | -1.8% |
| Net margin | -21.5% | -15.4% | -10.5% | -15.2% | -23.3% | 18.3% | -14.1% | -7.6% | -9.6% | -2.1% |
Balance sheet
Fiscal years, from AtriCure's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $44M | $34M | $124M | $82M | $244M | $119M | $121M | $137M | $123M | $167M |
| Receivables | $21M | $23M | $25M | $28M | $23M | $33M | $43M | $53M | $60M | $67M |
| Inventory | $18M | $22M | $22M | $29M | $35M | $39M | $46M | $68M | $75M | $78M |
| Total current assets | $86M | $82M | $175M | $143M | $307M | $196M | $215M | $266M | $268M | $323M |
| Property, plant and equipment | $30M | $29M | $27M | $33M | $28M | $31M | $39M | $42M | $42M | $39M |
| Goodwill | $105M | $105M | $105M | $235M | $235M | $235M | $235M | $235M | $235M | $235M |
| Total assets | $276M | $268M | $357M | $558M | $715M | $615M | $585M | $614M | $609M | $654M |
| Total current liabilities | $29M | $32M | $40M | $50M | $49M | $56M | $58M | $75M | $73M | $82M |
| Long-term debt | $24M | $24M | $36M | $60M | $53M | $60M | $57M | $61M | $62M | $62M |
| Total liabilities | $108M | $107M | $107M | $311M | $302M | $132M | $129M | $148M | $148M | $162M |
| Shareholders' equity | $168M | $161M | $249M | $247M | $412M | $484M | $457M | $466M | $461M | $492M |
| Net debt | -$322,000 | $2M | $3M | $31M | $18M | $16M | -$1M | -$24M | -$61M | -$106M |
Cash flow
Fiscal years, from AtriCure's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$15M | -$9M | -$4M | -$16M | -$20M | -$14M | -$22M | $4M | $12M | $57M |
| Capital spending | $8M | $6M | $6M | $12M | $5M | $10M | $17M | $12M | $11M | $9M |
| Free cash flow | -$23M | -$15M | -$10M | -$28M | -$25M | -$24M | -$39M | -$8M | $745,000 | $48M |
| Stock-based compensation | $12M | $15M | $16M | $18M | $23M | $28M | $29M | $36M | $40M | $45M |
| Net borrowing | — | — | $17M | $20M | $0 | $5M | $0 | $0 | $61M | $0 |
| Free cash flow margin | -14.7% | -8.8% | -5.1% | -12.1% | -12.2% | -8.6% | -11.8% | -1.9% | 0.2% | 9.0% |
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Open ATRC in InvestinglyQuestions
What was AtriCure's revenue in 2025?
$535M in fiscal 2025, from its 10-K filing.
How much free cash flow does AtriCure generate?
$48M in fiscal 2025 (operating cash flow minus capital spending).
From AtriCure's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.