AtriCure Reports Third Quarter 2026 Financial Results
AtriCure, Inc. (ATRC) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 For immediate release November 3, 2026 AtriCure Reports Third Quarter 2026 Financial Results • Third Quarter 2026 worldwide revenue of $154.5 million, an increase of 15.0% year over year • Profitability expansion in the Third Quarter 2026, with net income of $4.1 mil
How this was made
The 30-second read
Why it matters
The earnings beat and new guidance provide fresh data for valuation models and may trigger short‑term buying pressure.
Market read
First‑report earnings and guidance for a listed medical‑device company; immediate relevance for traders and analysts covering healthcare stocks.
What to watch
Potential headwinds from reduced hybrid procedures and competition from PFA catheters.
Third Quarter 2026 worldwide revenue of $154.5 million, an increase of 15.0% year over year, with net income of $4.1 million and adjusted EBITDA of $26.8 million.
Revenue grew 15.0% year over year, gross margin expanded by 180 basis points, and the company reported net income of $4.1 million versus a net loss of $0.3 million in the prior-year quarter. Adjusted EBITDA increased 51%, while full-year revenue, adjusted EBITDA, GAAP EPS and adjusted EPS guidance were provided.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total revenue, Three Months Ended September 30, 2026GAAP | $154.5M | – | 15.0% |
| Total revenue, Nine Months Ended September 30, 2026GAAP | $449.3M | – | – |
| Total revenue constant currency growth, Three Months Ended September 30, 2026non-GAAP | 15.1% on a constant currency basis | – | 15.1% on a constant currency basis |
| Cost of revenue, Three Months Ended September 30, 2026GAAP | $35.1M | – | – |
| Cost of revenue, Nine Months Ended September 30, 2026GAAP | $102.0M | – | – |
| Gross profit, Three Months Ended September 30, 2026GAAP | $119.4M | – | – |
| Gross profit, Nine Months Ended September 30, 2026GAAP | $347.3M | – | – |
| Gross margin, Three Months Ended September 30, 2026GAAP | 77.3% | – | an increase of 180 basis points |
| Research and development expenses, Three Months Ended September 30, 2026GAAP | $32.12M | – | – |
| Research and development expenses, Nine Months Ended September 30, 2026GAAP | $82.75M | – | – |
| Selling, general and administrative expenses, Three Months Ended September 30, 2026GAAP | $82.88M | – | – |
| Selling, general and administrative expenses, Nine Months Ended September 30, 2026GAAP | $250.0M | – | – |
| Total operating expenses, Three Months Ended September 30, 2026GAAP | $115.0M | – | – |
| Total operating expenses, Nine Months Ended September 30, 2026GAAP | $332.7M | – | – |
| Income from operations, Three Months Ended September 30, 2026GAAP | $4.4M | – | – |
| Income (loss) from operations, Nine Months Ended September 30, 2026GAAP | $14.54M | – | – |
| Other expense, net, Three Months Ended September 30, 2026GAAP | −$336K | – | – |
| Other expense, net, Nine Months Ended September 30, 2026GAAP | −$707K | – | – |
| Income tax expense (benefit), Three Months Ended September 30, 2026GAAP | −$47K | – | – |
| Income tax expense, Nine Months Ended September 30, 2026GAAP | $710K | – | – |
| Net income (loss), Three Months Ended September 30, 2026GAAP | $4.1M | – | – |
| Net income (loss), Nine Months Ended September 30, 2026GAAP | $13.13M | – | – |
| Basic net income (loss) per share, Three Months Ended September 30, 2026GAAP | $0.08 | – | – |
| Diluted net income (loss) per share, Three Months Ended September 30, 2026GAAP | $0.08 | – | – |
| Basic net income (loss) per share, Nine Months Ended September 30, 2026GAAP | $0.27 | – | – |
| Diluted net income (loss) per share, Nine Months Ended September 30, 2026GAAP | $0.27 | – | – |
| Adjusted EBITDA, Three Months Ended September 30, 2026non-GAAP | $26.8M | – | 51% |
| Adjusted EBITDA, Nine Months Ended September 30, 2026non-GAAP | $71.16M | – | – |
| Adjusted earnings (loss) per share, Three Months Ended September 30, 2026non-GAAP | $0.18 | – | – |
| Adjusted earnings (loss) per diluted share, Three Months Ended September 30, 2026non-GAAP | $0.17 | – | – |
| Adjusted earnings (loss) per share, Nine Months Ended September 30, 2026non-GAAP | $0.36 | – | – |
| Adjusted earnings (loss) per diluted share, Nine Months Ended September 30, 2026non-GAAP | $0.36 | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| United States revenue, Three Months Ended September 30, 2026Growth was driven by sales of the cryoSPHERE MAX probe, EnCompass clamp, and AtriClip FLEX-Mini and AtriClip PRO-Mini devices. | $128M | – | 17.1% |
| International revenue, Three Months Ended September 30, 2026Growth in all franchises. | $26.4M | – | 5.8% |
| International revenue constant currency growth, Three Months Ended September 30, 2026Growth in all franchises. | $26.4M | – | 6.1% on a constant currency basis |
| United States open ablation, Three Months Ended September 30, 2026 | $43.00M | – | – |
| United States minimally invasive ablation, Three Months Ended September 30, 2026Sales declined during the quarter from continued reduction in Hybrid procedures as physicians adopt PFA catheters to treat patients. | $5.39M | – | – |
| United States pain management, Three Months Ended September 30, 2026U.S. growth was driven by sales of the cryoSPHERE MAX probe for post-operative pain management. | $28.06M | – | – |
| United States appendage management, Three Months Ended September 30, 2026U.S. growth was driven by AtriClip FLEX-Mini and AtriClip PRO-Mini devices for appendage management. | $51.6M | – | – |
| International open ablation, Three Months Ended September 30, 2026Growth in all franchises. | $11.18M | – | – |
| International minimally invasive ablation, Three Months Ended September 30, 2026Growth in all franchises. | $1.90M | – | – |
| International pain management, Three Months Ended September 30, 2026Growth in all franchises. | $2.44M | – | – |
| International appendage management, Three Months Ended September 30, 2026Growth in all franchises. | $10.88M | – | – |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Full year 2026 outlook
- Revenueapproximately $606 million to $610 million
- NoteAdjusted EBITDA of approximately $91 million to $94 million
- NoteNet income per share is expected to be in the range of $0.21 to $0.27
- NoteAdjusted earnings per share of approximately $0.40 to $0.46
- NoteContinued positive cash generation for 2026
What drove it
- U.S. revenue increased $18.7 million or 17.1%, driven by cryoSPHERE MAX probe sales, EnCompass clamp sales, and AtriClip FLEX-Mini and AtriClip PRO-Mini device sales.
- International revenue increased $1.4 million or 5.8%, with growth in all franchises.
- Gross margin increased by 180 basis points, driven primarily by favorable product and geographic mix.
- Adjusted EBITDA increased $9.0 million or 51% from the third quarter 2025.
- The company cited rapid progress of its BoxX-NoAF clinical trial.
Concerns
- Minimally invasive ablation sales declined during the quarter from continued reduction in Hybrid procedures as physicians adopt PFA catheters to treat patients.
- Research and development expenses were $ 32,116 (In Thousands) in the third quarter 2026 compared with $ 22,892 (In Thousands) in the third quarter 2025.
- The third-quarter reconciliation included $ 4,500 (In Thousands) of acquired in-process research & development expense.
- The company identifies competition from existing and new products and procedures, including catheter-based technologies, as a risk.
What to watch
- Execution toward full-year 2026 revenue guidance of approximately $606 million to $610 million.
- Delivery against full-year 2026 adjusted EBITDA guidance of approximately $91 million to $94 million.
- The trajectory of minimally invasive ablation sales amid physician adoption of PFA catheters.
- Progress of the BoxX-NoAF clinical trial.
- Whether favorable product and geographic mix continues to support gross margin.
Balance sheet and cash flow
- Cash and cash equivalents: $ 187,031 (In Thousands) as of September 30, 2026; $ 167,428 (In Thousands) as of December 31, 2025.
- Long-term debt: $ 61,000 (In Thousands) as of September 30, 2026; $ 61,865 (In Thousands) as of December 31, 2025.
- Total assets: $ 717,536 (In Thousands) as of September 30, 2026; $ 654,179 (In Thousands) as of December 31, 2025.
- Total liabilities: $ 184,312 (In Thousands) as of September 30, 2026; $ 162,244 (In Thousands) as of December 31, 2025.
- Total stockholders' equity: $ 533,224 (In Thousands) as of September 30, 2026; $ 491,935 (In Thousands) as of December 31, 2025.
- Management expects continued positive cash generation for 2026.
Analysis
AtriCure reported third-quarter worldwide revenue of $154.5 million, up 15.0% year over year and 15.1% on a constant currency basis. U.S. revenue was $128.0 million, up 17.1%, led by cryoSPHERE MAX probe sales in pain management, EnCompass clamp sales in open ablation, and AtriClip FLEX-Mini and AtriClip PRO-Mini sales in appendage management. International revenue was $26.4 million, up 5.8%, or 6.1% on a constant currency basis, with growth in all franchises.
The portfolio mix was uneven. U.S. minimally invasive ablation revenue was $ 5,389 (In Thousands), and management said minimally invasive ablation sales declined as physicians adopt PFA catheters and Hybrid procedures continue to decline. This pressure was offset by U.S. open ablation revenue of $ 43,003 (In Thousands), pain management revenue of $ 28,057 (In Thousands), and appendage management revenue of $ 51,600 (In Thousands).
Profitability expanded materially. Gross profit was $119.4 million compared with $101.3 million, while gross margin reached 77.3%, an increase of 180 basis points driven primarily by favorable product and geographic mix. Income from operations was $4.4 million compared with $0.2 million, and net income was $4.1 million compared with a net loss of $0.3 million. Adjusted EBITDA was $26.8 million, up $9.0 million or 51%, although the reconciliation included $ 4,500 (In Thousands) of acquired in-process research & development expense.
For the first nine months, total revenue was $ 449,303 (In Thousands), gross profit was $ 347,290 (In Thousands), income from operations was $ 14,544 (In Thousands), and net income was $ 13,127 (In Thousands). Cash and cash equivalents were $ 187,031 (In Thousands) at September 30, 2026, and long-term debt was $ 61,000 (In Thousands). Management projects full-year revenue of approximately $606 million to $610 million, adjusted EBITDA of approximately $91 million to $94 million, net income per share of $0.21 to $0.27, adjusted earnings per share of approximately $0.40 to $0.46, and continued positive cash generation.
Management, verbatim
Our third quarter results demonstrate the strength of our broad portfolio and our team’s disciplined execution.
Michael Carrel, President and Chief Executive Officer
Adoption of our innovative technologies is driving strong growth and expanding profitability, while the rapid progress of our BoxX-NoAF clinical trial reinforces our confidence in the opportunities ahead.
Michael Carrel, President and Chief Executive Officer
Not in the filing
stated, not guessed- Prior-quarter comparisons were not reported for the presented financial metrics.
- The prior-year gross margin percentage was not printed.
- Cash flow from operations and free cash flow amounts were not reported.
- Capital returns, including share repurchases and dividends, were not reported.
- No prior outlook section was provided, so comparison of actual results with prior guidance is unavailable.
- Full-year 2026 guidance for gross margin, operating expenses, and tax rate was not reported.
- A detailed quarterly cash-flow statement was not provided.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
AtriCure (Nasdaq: ATRC) released its Q3 2026 earnings via an SEC Form 8‑K, highlighting revenue growth, margin expansion, and updated full‑year guidance.
Ticker impact
AtriCure disclosed Q3 2026 results and issued full‑year 2026 revenue and EBITDA guidance.
likely support as the new guidance signals issued earnings outlook
First‑report earnings release with fresh numbers and forward outlook; traders can act on the guidance immediately.
Market effects
Strengthens outlook for the cardiac surgery and medical device sector.
Positive for U.S. healthcare equities.
Limited to investors tracking medical‑device earnings.
Counterpoint
If guidance falls short of analyst expectations, the stock could face pressure despite the revenue increase.
Key entities
- ExecutiveMichael Carrel
President and CEO of AtriCure, quoted in the release.
