AtriCure Reports Preliminary Results for Fourth Quarter and Full Year 2021, Provides Financial Outlook for 2022
January 10 2022 - 7:00AM
Business Wire
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, announced preliminary financial results for the fourth
quarter and full year 2021 and provided 2022 financial
guidance.
Preliminary, unaudited revenue for fourth quarter 2021 is
expected to be approximately $73.2 million, reflecting growth of
approximately 27% over the fourth quarter of 2020. U.S. revenue is
expected to be $61.2 million, reflecting growth of 29%, as demand
across key product lines continues to increase. International
revenue is expected to be approximately $12.0 million, an increase
of 16% as reported and an increase of 19% on a constant currency
basis.
Preliminary, unaudited revenue for full year 2021 is expected to
be $274.3 million, reflecting growth of approximately 33% over full
year 2020 (32% on a constant currency basis). As previously
communicated, adjusted EBITDA for the full year 2021 is estimated
to be a loss of approximately $10 million and adjusted loss per
share for the full year 2021 is estimated at approximately $1.20.
Adjusted EBITDA, adjusted loss per share and constant currency
revenue growth are non-GAAP measures. AtriCure will provide a
reconciliation of non-GAAP measures to the related GAAP measure in
the release of audited 2021 results.
“Our strong revenue growth reflects the tremendous efforts of
our team and physician partners as we continue to improve the lives
of patients with Afib and related conditions against the challenges
of an ongoing pandemic,” said Michael Carrel, President and Chief
Executive Officer of AtriCure. “We are well positioned for growth
acceleration in 2022, as reflected in our guidance range, and we
remain very optimistic about the opportunity to continue driving an
increased impact against the global Afib epidemic over the coming
year and beyond.”
2022 Financial Guidance
Management projects 2022 revenue of approximately $315 million
to $330 million, reflecting growth of approximately 15% to 20% over
full year 2021. As with previous guidance, continued uncertainty
relating to the dynamic environment with the COVID-19 pandemic
could materially impact this projection.
About AtriCure
AtriCure, Inc. provides innovative technologies for the
treatment of Afib and related conditions. Afib affects more than 33
million people worldwide. Electrophysiologists and cardiothoracic
surgeons around the globe use AtriCure technologies for the
treatment of Afib and reduction of Afib related complications.
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® probe is cleared for
temporary ablation of peripheral nerves to block pain, providing
pain relief in cardiac and thoracic procedures. For more
information, visit AtriCure.com or follow us on Twitter
@AtriCure.
Forward-Looking
Statements
This press release contains “forward-looking statements”– that
is, statements related to future events that by their nature
address matters that are uncertain. This press release also
includes forward-looking projected financial information that is
based on current estimates and forecasts. Actual results could
differ materially. For information on the uncertainties that may
cause our actual results to be materially different from those
expressed in our forward-looking statements, visit
http://www.atricure.com/forward-looking-statements as well as our
Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q
which contain risk factors. Except where otherwise noted, the
information contained in this release is as of January 10, 2022. We
assume no obligation to update any forward-looking statements
contained in this release as a result of new information or future
events or developments.
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version on businesswire.com: https://www.businesswire.com/news/home/20220110005122/en/
Angie Wirick AtriCure, Inc. Chief Financial Officer (513)
755-5334 awirick@atricure.com
Lynn Lewis Gilmartin Group Investor Relations (415) 937-5402
lynn@gilmartinir.com
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