AtriCure Raises 2026 Revenue Guidance to $600–$610M After 13% Q4 Growth
AtriCure posted Q4 revenue of $140.5 million, up 13.1% year-over-year, with EPS of $0.06 reversing a loss of $0.08. Management reported a 75% gross margin, net income of $1.8 million and reaffirmed 2026 revenue guidance of $600–$610 million (12–14% growth).
1. Q4 Financial Results
AtriCure reported Q4 revenue rose 13.1% to $140.5 million and delivered EPS of $0.06, reversing a loss per share of $0.08 a year earlier. Net income reached $1.8 million, while gross margin expanded 45 basis points to 75%.
2. Full-Year 2025 Performance and 2026 Outlook
Full-year 2025 revenue grew 14.9% to $534.5 million with adjusted EBITDA of $61.8 million and positive cash generation of $45 million. Management reaffirmed 2026 revenue guidance of $600–$610 million (12–14% growth) and projected adjusted EBITDA of $80–$82 million.
3. Franchise Growth Drivers
The pain management franchise surged 33% in 2025, driven by cryoSPHERE MAX adoption in 500 U.S. accounts, while appendage management revenue grew 19% globally with AtriClip FLEX MINI in over 300 accounts. Open ablation sales climbed over 17% worldwide, led by Encompass clamp adoption in 830 accounts.
4. Clinical Trials and Product Pipeline
AtriCure completed enrollment of 6,573 patients in the LEAPS trial and initiated the 960-patient BOX X NoAF study. First-in-human use of a dual-energy EnCompass clamp finished with positive results, and CryoXT rollout began, expected to contribute to H2 2026 revenue.