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ATRICURE, INC. filed this Form 8-K on 02/28/2019
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ATRICURE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In Thousands, Except Per Share Amounts)

(Unaudited)



 

 

 

 

 

 

 

 

 

 

 

 



 

Three Months Ended December 31,

 

Twelve Months Ended December 31,



 

2018

 

2017

 

2018

 

2017

United States Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Open-heart ablation

 

$

18,650 

 

$

16,671 

 

$

72,250 

 

$

64,517 

Minimally invasive ablation

 

 

9,449 

 

 

8,365 

 

 

35,053 

 

 

34,421 

Appendage management

 

 

14,506 

 

 

10,645 

 

 

52,891 

 

 

37,281 

Total ablation and appendage management

 

 

42,605 

 

 

35,681 

 

 

160,194 

 

 

136,219 

Valve tools

 

 

507 

 

 

510 

 

 

1,952 

 

 

2,168 

Total United States

 

 

43,112 

 

 

36,191 

 

 

162,146 

 

 

138,387 

International Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Open-heart ablation

 

 

4,936 

 

 

5,199 

 

 

21,118 

 

 

20,718 

Minimally invasive ablation

 

 

2,369 

 

 

2,148 

 

 

9,176 

 

 

8,007 

Appendage management

 

 

2,448 

 

 

2,426 

 

 

8,988 

 

 

7,251 

Total ablation and appendage management

 

 

9,753 

 

 

9,773 

 

 

39,282 

 

 

35,976 

Valve tools

 

 

28 

 

 

98 

 

 

202 

 

 

353 

Total international

 

 

9,781 

 

 

9,871 

 

 

39,484 

 

 

36,329 

Total revenue

 

 

52,893 

 

 

46,062 

 

 

201,630 

 

 

174,716 

Cost of revenue

 

 

14,303 

 

 

13,379 

 

 

54,510 

 

 

48,553 

Gross profit

 

 

38,590 

 

 

32,683 

 

 

147,120 

 

 

126,163 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development expenses

 

 

8,455 

 

 

7,721 

 

 

34,723 

 

 

34,144 

Selling, general and administrative expenses

 

 

32,742 

 

 

27,097 

 

 

129,524 

 

 

116,998 

Total operating expenses

 

 

41,197 

 

 

34,818 

 

 

164,247 

 

 

151,142 

Loss from operations

 

 

(2,607)

 

 

(2,135)

 

 

(17,127)

 

 

(24,979)

Other expense, net

 

 

(744)

 

 

(497)

 

 

(3,784)

 

 

(1,899)

Loss before income tax expense

 

 

(3,351)

 

 

(2,632)

 

 

(20,911)

 

 

(26,878)

Income tax expense (benefit)

 

 

79 

 

 

(52)

 

 

226 

 

 

14 

Net loss

 

$

(3,430)

 

$

(2,580)

 

$

(21,137)

 

$

(26,892)

Basic and diluted net loss per share

 

$

(0.09)

 

$

(0.08)

 

$

(0.62)

 

$

(0.83)

Weighted average shares used in computing net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

 

36,480 

 

 

32,654 

 

 

34,087 

 

 

32,387