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AtriCure
AtriCure (ATRC) investor relations material
AtriCure Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary17 Feb, 2026
Executive summary
Achieved total revenue of $534.5 million in 2025, up 14.9% year-over-year, with Q4 revenue of $140.5 million, up 13.1% year-over-year, driven by pain management, open appendage management, and open ablation franchises.
Adjusted EBITDA reached $61.8 million for 2025, nearly doubling from 2024, with Q4 adjusted EBITDA of $19.9 million; net income turned positive in Q4 2025 at $1.8 million.
Growth fueled by new product launches including AtriClip PRO-Mini, cryoXT probe, cryoSPHERE MAX, AtriClip FLEX-Mini, and EnCompass clamp.
Maintained leadership in innovation and clinical evidence, with over 100,000 patients treated using cryoSPHERE probes since 2019.
Financial highlights
Q4 2025 revenue was $140.5 million, up 13.1% year-over-year; U.S. revenue grew 12.6% to $114.3 million, international revenue up 15.3% to $26.2 million.
Gross margin for 2025 was 75.0%, up 29 basis points from 2024, with Q4 gross profit at $105.3 million.
Adjusted EBITDA for 2025 was $61.8 million, up from $31.1 million in 2024; Q4 adjusted EBITDA was $19.9 million.
Net income for Q4 2025 was $1.8 million, compared to a $15.6 million loss in Q4 2024; EPS improved to $0.04.
Ended 2025 with $167.4 million in cash and investments, generating $45 million in cash for the year.
Outlook and guidance
2026 revenue guidance reaffirmed at $600–$610 million, representing 12–14% growth over 2025.
Adjusted EBITDA guidance for 2026 is $80–$82 million, with positive net income and adjusted EPS of $0.09–$0.15.
Pain management expected to lead growth in 2026, with open appendage management and open ablation also strong.
Anticipates continued pressure in minimally invasive ablation and MIS appendage management, but at a lower rate of decline.
Expects positive cash generation for full year 2026, despite a net cash burn in Q1 due to seasonal factors.
Reason for minimally invasive ablation decline?
Drivers for 2026 positive net income?
R&D investment impact on 2026 margin expansion?
Clip market share strategy vs new competitor?
BoxX-NoAF trial's impact on EnCompass adoption?
Key drivers for future EBITDA margin expansion?
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Next AtriCure earnings date
The Citizens Life Sciences Conference 202610 Mar, 2026
AtriCure
Next AtriCure earnings date
The Citizens Life Sciences Conference 202610 Mar, 2026
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Frequently asked questions
AtriCure Inc develops and sells medical devices for the surgical treatment of atrial fibrillation and related conditions. The company offers ablation systems, surgical instruments, and cryoablation technologies used in both open-heart and minimally invasive procedures. The company is headquartered in Mason, Ohio, and its shares are listed on the NASDAQ.
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