AtriCure, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year of 2015 and Updated 2016 Financial Guidance
January 11, 2016 at 01:10 pm
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AtriCure, Inc. provided earnings guidance for the fourth quarter and full year of 2015 and updated 2016 financial guidance. Preliminary and unaudited revenue for fourth quarter 2015 is expected to be approximately $35.9 million, reflecting growth of approximately 21.9% over the fourth quarter of 2014. Based on this preliminary estimate, revenue from U.S. customers is expected to be $28.9 million, reflecting growth of 30.7%, and revenue from international customers is expected to be $7.0 million, reflecting a decline of 4.6%, and an increase of 3.8% on a constant currency basis.
Preliminary revenue for full year 2015 is expected to be $129.8 million, reflecting growth of 20.8% over full year 2014.
Management projects 2016 revenue growth of approximately 25% over full year 2015 at current exchange rates. Adjusted EBITDA, a non-GAAP measure, is projected to be a loss in the range of $14 to $15 million for 2016 as continue to make strategic investments to drive long-term growth plan, including several clinical trials, modest expansion of U.S. field sales team, and ongoing product development efforts. The company continues to expect significant improvement in adjusted EBITDA loss for 2017, turning to a positive adjusted EBITDA for 2018.
AtriCure, Inc. provides technologies for the treatment for atrial fibrillation (Afib), left atrial appendage (LAA) management and post-operative pain management. The Company's cardiac ablation and left atrial appendage management (LAAM) products are used by physicians during open-heart and minimally invasive surgical procedures. Its pain management solutions are used by physicians to freeze nerves during cardiothoracic or thoracic surgical procedures. The Company's products for open and minimally invasive ablation include Isolator Synergy Clamps and Multifunctional Pens and Linear Ablation Devices. Its products for open ablation include cryoICE Cryoablation System. Its products for minimally invasive ablation include EPi-Sense Guided Coagulation System with VisiTrax Technology. Its appendage management products include AtriClip System. The Isolator Synergy Ablation System clamps are single-use disposable radio frequency (RF) products with jaws that close in a parallel fashion.
ATRICURE, INC. 
