MASON, Ohio--(BUSINESS WIRE)--Jan. 8, 2018--
ATRC), a leading innovator in treatments for atrial fibrillation
(Afib) and left atrial appendage (LAA) management, today announced
preliminary financial results for the fourth quarter and full year 2017
and provided 2018 financial guidance.
Preliminary and unaudited revenue for fourth quarter 2017 is expected to
be approximately $46.1 million, reflecting growth of approximately 12%
over the fourth quarter of 2016. Based on this preliminary estimate,
revenue from U.S. customers is expected to be $36.2 million, reflecting
growth of 11% and revenue from international customers is expected to be
approximately $9.9 million, an increase of 16% as reported and 10% on a
constant currency basis.
Preliminary revenue for full year 2017 is expected to be $174.7 million,
reflecting growth of approximately 13% over full year 2016. Adjusted
EBITDA loss (a non-GAAP measure consistently calculated as in previous
releases1) for the full year 2017 is currently estimated to
be in the previously communicated range of $4 to $6 million.
“Our fourth quarter results demonstrate solid financial performance as
well as several accomplishments, and our business recovered nicely from
the impact of the hurricanes in the third quarter. In addition, we
enrolled our 100th patient in CONVERGE, surpassed the 120,000
AtriClip milestone, and launched the AtriClip PRO•V™ device as a
platform for current and future growth,” said Mike Carrel, President and
Chief Executive Officer of AtriCure. “We are well positioned to continue
executing on our strategy to deliver solid, balanced, results across our
business while progressing forward with our clinical trials and
strategic initiatives, and positively impacting patient lives.”
2018 Financial Guidance
Management projects 2018 revenue of approximately $190 million to $196
million. Adjusted EBITDA, a non-GAAP measure, is projected to be
positive for 2018.
AtriCure, Inc. provides innovative technologies for the treatment of
Afib and related conditions. Afib affects more than 33 million people
worldwide. Electrophysiologists and cardiothoracic surgeons around the
globe use AtriCure technologies for the treatment of Afib and reduction
of Afib related complications. AtriCure’s Isolator® Synergy™ Ablation
System is the first and only medical device to receive FDA approval for
the treatment of persistent Afib. AtriCure’s AtriClip Left Atrial
Appendage Exclusion System products are the most widely sold LAA
management devices worldwide, with more than 100,000 implanted to date.
For more information, visit AtriCure.com
or follow us on Twitter @AtriCure.
This press release contains “forward-looking statements”– that is,
statements related to future events that by their nature address matters
that are uncertain. For details on the uncertainties that may cause our
actual results to be materially different than those expressed in our
forward-looking statements, visit http://www.atricure.com/fls
as well as our Annual Reports on Form 10-K and Quarterly Reports on Form
10-Q which contain risk factors. We do not undertake to update our
forward-looking statements. This document also includes forward-looking
projected financial information that is based on current estimates and
forecasts. Actual results could differ materially.
1 AtriCure will provide a reconciliation of non-GAAP measures
to the related GAAP measure in the release of final 2017 results.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180108005543/en/
Source: AtriCure, Inc.
Andy Wade, 513-755-4564
Senior Vice President
and Chief Financial Officer
Lynn Pieper Lewis, 415-937-5402