ATRC · Nasdaq · Healthcare
AtriCure, Inc. (ATRC) — Rank #51 by gross profitability (GP/assets 0.59) · ROE -2.2% · Piotroski F-Score 7 / 9.
As-of 2026-10-30 · CIK 0001323885 · all metrics point-in-time as of the filing date.
About
AtriCure, Inc. engages in the development, manufacture, and sale of devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, the Asia-Pacific, and internationally.
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It offers Isolator Synergy Ablation System clamps, a single-use disposable radio frequency products; multifunctional pens and linear ablation devices, a single-use disposable RF products for the treatment of cardiac arrhythmias; cryoICE Cryoablation System that enables the user to make linear ablations of varied lengths; and EPi-Sense Systems, a single-use disposable device used for the treatment of symptomatic, drug-refractory, and long-standing persistent atrial fibrillation. It also provides cryoSPHERE probe, which provides temporary pain relief by applying cryothermic energy to targeted intercoastal peripheral nerves in the ribcage; AtriClip System, an implantable device coupled to a single-use disposable applier; cryoXT probes, a cryoablation device designed specifically for Cryo Nerve Block therapy; LARIAT System, a solution for soft-tissue closure; Lumitip dissectors to separate tissues to provide access to key anatomical structures that are targeted for ablation; Glidepath guides for placement of clamps; and Subtle Cannula's to support access for EPi-Sense catheters. In addition, the company sells various reusable cardiac surgery instruments. It markets and sells its products through independent distributors and direct sales personnel.
The company was incorporated in 2000 and is headquartered in Mason, Ohio.
- Industry
- Medical Instruments & Supplies
- Sector
- Healthcare
- State
- DE
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- atricure.com
Company Snapshot
P/S is the primary valuation lens for pre-profit companies.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
1,350
Industry
Medical Instruments & Supplies
Exchange
Nasdaq
12/12
Flags passed
ATRC passes 12/12 quality flags
- PASSGross margin holding
- PASSDilution within 2%
- PASSFCF not negative from investment
- PASSDisclosure consistent
- PASSRevenue not declining
- PASSOperating margin holding
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSBalance sheet stable
- PASSNo competitive retreat
- PASSSBC not compressing margin
- PASSNo valuation convergence
Strengths Sequential beat (rev + EPS)
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passBurn rate (cash flow) is the primary read at this stage — TAM and product-market fit aren't metrics this dashboard tracks.
Profitability
Does it make money well?
No warning flags · GP/assets 68th percentile of 20 SIC 3841 peers
Gross profitability (GP / assets)
0.59
Primary signal (Novy-Marx).
68th pctl of 20 SIC 3841 peers
Return on equity
-2.2%
Gross margin
75.0%
95th pctl of 20 SIC 3841 peers
Revenue growth (YoY)
14.9%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
17.4%
Revenue CAGR (5Y)
20.9%
Earnings CAGR (3Y)
—
FCF CAGR (3Y)
—
Cash Flow Health
Is the cash real?
No warning flags · FCF 522% above net income
Free cash flow
$48.28M
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
521.8%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
8.4%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
No warning flags · net cash $106.79M, F-Score 7/9
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.31
4th of 19 SIC 3841 peers (best = lowest)
Current ratio
4.22×
84th pctl of 20 SIC 3841 peers
Quick ratio
3.02×
Net cash
$106.79M
Cash & equivalents minus total debt.
Piotroski F-Score
7 / 9
Fundamental-strength score (0-9).
Valuation
Is the price reasonable?
No warning flags
Capital allocation quality
Composite score
3.3 / 5
Lifecycle Phase History
Price History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports