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AtriCure Inc. (ATRC-0.96%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenue of $465.3 million for 2024, representing a 16.5% increase from the previous year. This growth was driven by increased adoption of key product lines and new product launches.
Revenue in the United States accounted for $382.8 million, while international revenue was $82.5 million, showing a 25.6% increase from the prior year.
Cost of revenue increased to $117.8 million, resulting in a gross margin of 74.7%, slightly down from 75.2% in 2023 due to less favorable geographic and product mix.
Research and development expenses rose by 30.1% to $96.2 million, mainly due to an upfront payment for acquired in-process research and development and increased clinical trial activity.
Selling, general, and administrative expenses increased by 15.1% to $291.4 million, driven by higher personnel costs and professional services.
The company reported a net loss of $44.7 million for 2024, compared to a net loss of $30.4 million in 2023.
AtriCure's cash and cash equivalents stood at $122.7 million as of December 31, 2024, with net cash provided by operating activities amounting to $12.2 million.
The company entered into a new credit agreement providing a $125 million asset-based revolving credit facility, which was used to terminate its previous loan agreement.
AtriCure continues to invest in product innovation, clinical science, and physician training, with several new product launches and ongoing clinical trials aimed at expanding its market presence.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the AtriCure Inc. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.