AtriCure targets $1 billion revenue driven by pain management growth and atrial fibrillation trials. Revenue target of $1 billion backed by key trials signals major expansion and trajectory shift for AtriCure.
| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | 3 | — | — | — | 1 | — | 2 | — | 3 | 3 | 3 |
| total | individual payouts | |
|---|---|---|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡ |
|
| 2019 | ‡‡‡ |
|
| 2017 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 137.29 | 122.72 | 167.43 | 167.79 |
| Receivables | 52.50 | 60.34 | 66.65 | 79.98 |
| Inventory | 67.90 | 75.34 | 78.49 | 83.93 |
| Other | — | — | — | — |
| 266.25 | 267.83 | 322.52 | 345.53 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 27.35 | 25.03 | 25.31 | 35.85 |
| ST’ Debt | 2.53 | — | — | — |
| Other | — | 2.81 | 3.12 | 3.17 |
| 74.57 | 73.42 | 81.52 | 81.92 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 141.25 | 153.60 | — | — |
—
|
| ’25 | 123.62 | 136.14 | 134.27 | 140.50 |
534.53
|
| ’24 | 108.85 | 116.27 | 115.91 | 124.28 |
465.31
|
| ’23 | 93.49 | 100.92 | 98.29 | 106.54 |
399.25
|
| ’22 | 74.58 | 84.53 | 83.25 | 88.03 |
330.38
|
| ’21 | 59.28 | 71.38 | 70.46 | 73.22 |
274.33
|
| ’20 | 53.23 | 40.82 | 54.76 | 57.73 |
206.53
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (4.00) | 22.19 | — | — |
—
|
| ’25 | (11.03) | 21.62 | 26.72 | 20.03 |
57.33
|
| ’24 | (21.02) | 7.38 | 20.00 | 5.84 |
12.20
|
| ’23 | (4.08) | 3.01 | 1.52 | 4.03 |
4.48
|
| ’22 | (24.63) | 4.23 | (1.78) | 0.05 |
(22.14)
|
| ’21 | (9.32) | (4.53) | (0.23) | 0.30 |
(13.78)
|
| ’20 | (16.09) | (11.55) | 3.81 | 3.95 |
(19.87)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (7.85) | 18.43 | — | — |
—
|
| ’25 | (13.21) | 18.96 | 24.11 | 18.43 |
48.28
|
| ’24 | (23.79) | 5.02 | 16.40 | 3.14 |
0.77
|
| ’23 | (6.58) | (30.07) | (2.11) | 1.24 |
(37.51)
|
| ’22 | (28.01) | 0.05 | (6.93) | (4.12) |
(39.02)
|
| ’21 | (10.64) | (8.75) | (1.74) | (2.41) |
(23.53)
|
| ’20 | (17.92) | (12.66) | 2.55 | 2.90 |
(25.13)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.00 | 0.18 | — | — |
—
|
| ’25 | (0.14) | (0.13) | (0.01) | 0.04 |
(0.24)
|
| ’24 | (0.28) | (0.17) | (0.17) | (0.33) |
(0.95)
|
| ’23 | (0.14) | (0.11) | (0.20) | (0.21) |
(0.66)
|
| ’22 | (0.33) | (0.32) | (0.27) | (0.09) |
(1.02)
|
| ’21 | (0.38) | (0.36) | 2.11 | (0.30) |
1.09
|
| ’20 | (0.42) | (0.20) | (0.11) | (0.42) |
(1.14)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 32.51 | 32.27 | 18.94 | 28.29 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 72.31 | 59.61 | 39.05 | 43.11 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,050 | 1,200 | 1,300 | 330 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.31 | 0.33 | 0.36 | 1.62 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 330.38 | 399.25 | 465.31 | 534.53 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 74.44% | 75.23% | 74.69% | 74.98% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (46.20) | (29.85) | (43.67) | (10.16) | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (13.98%) | (7.48%) | (9.39%) | (1.90%) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (46.47) | (30.44) | (44.70) | (11.45) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 13.70 | 15.93 | 19.32 | 21.01 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.22 | 8.62 | 9.91 | 11.19 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | (1.02) | (0.66) | (0.95) | (0.24) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.48) | 0.10 | 0.26 | 1.20 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.37) | (0.91) | (0.24) | (0.19) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.85) | (0.81) | 0.02 | 1.01 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.99 | 10.07 | 9.82 | 10.30 | ‡‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 45.74 | 46.31 | 46.97 | 47.75 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.21 | 4.10 | 3.08 | 3.53 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.49 | 3.51 | 3.11 | 3.84 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.06 | 3.91 | 2.96 | 3.36 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (51.29) | (41.62) | (47.11) | 98.31 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (22.14) | 4.48 | 12.20 | 57.33 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (16.88) | (42.00) | (11.43) | (9.05) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (39.02) | (37.51) | 0.77 | 48.28 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 156.82 | 191.68 | 194.40 | 241.00 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 71.45 | 63.13 | 61.87 | 61.87 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (49.66) | (74.16) | (60.86) | (105.56) | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 456.75 | 466.17 | 460.97 | 491.94 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (7.74%) | (5.08%) | (7.31%) | (1.81%) | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (6.55%) | (4.25%) | (6.25%) | (1.53%) | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (9.88%) | (6.60%) | (9.64%) | (2.40%) | ‡‡‡‡‡ | — | — |
ROE
|
AtriCure (ATRC) has powered through a tough medtech arena with impressive revenue growth, surging from $155 million in 2016 to $465 million in 2024 at a 14.6% CAGR, fueled by AFib procedure booms, aging demographics, and post-COVID catch-up. Analysts project continued acceleration to $680 million by 2027, with operational efficiencies shining through rising revenue per employee and steady 72-75% gross margins on star products like Synergy clamps and AtriClip systems. Yet, persistent profitability woes—negative EBT margins outside a fluky 2021, swinging to -9% in 2024—have crushed the stock, now trading at a discount offering 10-96% upside to targets, begging the question: is this growth story finally ready to deliver?
Cash flow flickers positive in 2024 (+$0.02/share FCF), with forecasts eyeing $22 million by 2026 and breakeven EPS soon after, backed by a rock-solid balance sheet (net cash position, ample working capital). Valuation looks juicy at 3.1x sales versus peers, priming for a re-rating toward 2021 highs if execution clicks. But contrarian red flags wave: one-way insider selling ($1.65M in 10 events, no buys), lingering FDA quality hiccups, and razor-thin margins expose ATRC to procedure slowdowns or macro squeezes—could this be a trap for optimistic chasers, or the discounted medtech gem poised to soar?
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