0001323885-24-000106 | 10-Q | XBRL Viewer

Indebtedness (Tables)

6 Months Ended

Jun. 30, 2024

Future maturities of long-term debt are projected as follows:


2024 (excluding the six months ended June 30, 2024)	$	—
2025	—
2026	—
2027	61,865
2028	—
Total long-term debt, of which $61,865 is noncurrent	$	61,865

Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

INTANGIBLE ASSETS

The following table provides a summary of the Company’s intangible assets:


	June 30, 2024				December 31, 2023
	Cost		Accumulated Amortization		Cost		Accumulated Amortization
Technology	$	46,470	$	11,582	$	46,470	$	10,084
Patents	30,000		4,650		30,000		2,400
Total	$	76,470	$	16,232	$	76,470	$	12,484

The following table summarizes the allocation of amortization expense of intangible assets:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cost of revenues	$	1,125	$	480	$	2,250	$	480
Research and development expenses	760		738		1,498		1,476
Total	$	1,885	$	1,218	$	3,748	$	1,956

Future amortization expense is projected as follows:


2024 (excluding the six months ended June 30, 2024)	$	3,771
2025	8,441
2026	9,535
2027	10,435
2028	6,535
2029 and thereafter	21,521
Total	$	60,238

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2024	Jul. 29, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	000-51470
Entity Registrant Name	AtriCure, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	34-1940305
Entity Address, Address Line One	7555 Innovation Way
Entity Address, City or Town	Mason
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45040
City Area Code	513
Local Phone Number	755-4100
Title of 12(b) Security	Common Stock, $.001 par value
Trading Symbol	ATRC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		48,697,505
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Central Index Key	0001323885

Intangible Assets (Future Amortization Expense Related To Intangible Assets With Definite Lives) (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024 (excluding the six months ended June 30, 2024)	$ 3,771
2025	8,441
2026	9,535
2027	10,435
2028	6,535
2029 and thereafter	21,521
Total	$ 60,238

Intangible Assets (Disaggregation of Amortization Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 1,885	$ 1,218	$ 3,748	$ 1,956
Cost of revenue
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	1,125	480	2,250	480
Research and development expenses
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 760	$ 738	$ 1,498	$ 1,476

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Indebtedness

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Indebtedness

INDEBTEDNESS

On January 5, 2024, the Company entered into a credit agreement (Credit Agreement) with JPMorgan Chase Bank, N.A., as administrative agent, and JPMorgan Chase Bank, N.A., as bookrunner and lead arranger (JPMCB), and Silicon Valley Bank, a Division of First-Citizens Bank & Trust Company, as Joint Lead Arrangers and Joint Bookrunners, and the lenders party thereto (Lenders). The Credit Agreement provides for an asset based revolving credit facility (ABL Facility) in an amount of up to $125,000. Borrowing availability under the ABL Facility is based on the lesser of $125,000 or a borrowing base calculation as defined by the Credit Agreement. The Company may request an increase in the revolving commitment by up to $40,000 (not to exceed a total of $165,000). A portion of the ABL Facility, limited to $5,000, is available for the issuance of letters of credit by JPMCB or other financial institutions. JPMCB in its sole discretion, may create swingline loans by advancing floating rate revolving loans requested. Any such swingline loans will reduce availability under the ABL Facility on a dollar-for-dollar basis.

At closing, the Company borrowed $61,865. The proceeds of the ABL Facility were used to terminate the Company’s outstanding indebtedness and final fee under the Loan and Security Agreement with Silicon Valley Bank (SVB Loan Agreement). Certain prepayment and early termination fees under the SVB Loan Agreement were waived at termination. The termination of the SVB Loan Agreement was treated as a debt extinguishment and the resulting loss on debt extinguishment is $1,362. As of June 30, 2024, the Company had borrowings of $61,865 and had borrowing capacity of $61,885 under the ABL facility.

The Credit Agreement has a three-year term, and all outstanding borrowings are due upon maturity of the Credit Agreement on January 5, 2027. Through January 2025, the Company's required minimum utilization of the ABL facility is 40% of the aggregate revolving commitment or $50,000. Subject to customary exceptions and restrictions, the Company may voluntarily prepay outstanding amounts under the ABL Facility at any time thereafter without premium or penalty. Any voluntary prepayments made will not reduce commitments under the ABL Facility. The Credit Agreement contains mandatory

prepayment provisions which require prepayment of amounts outstanding under the ABL Facility upon specified events or Availability shortfall.

Future maturities of long-term debt are projected as follows:


2024 (excluding the six months ended June 30, 2024)	$	—
2025	—
2026	—
2027	61,865
2028	—
Total long-term debt, of which $61,865 is noncurrent	$	61,865

The ABL Facility is subject to a facility fee of 0.37% per annum of the daily available revolving commitment and paid on a quarterly basis. Outstanding amounts under the Credit Agreement bear interest at a rate per annum equal to, at the Company's election: (i) an alternate base rate (ABR) plus an applicable margin or (ii) an adjusted term secured overnight financing rate (SOFR) plus an applicable margin. All swingline loans bear interest at a rate per annum equal to the ABR plus the applicable margin under the Credit Agreement. Alternate base rate is equal to the greater of Prime, the NYFRB Rate plus 0.50% or Adjusted Term SOFR Rate plus 1.00%. The applicable margin on borrowings will adjust ranging 1.50% to 1.75% per annum for ABR borrowings and from 2.50% to 2.75% per annum for SOFR term borrowings determined by the average historical excess availability. Participation and fronting fees are accrued and paid on a quarterly basis.

The ABL Facility is secured by the assets of the Company, consisting of personal, tangible or intangible property, including certain outstanding equity interests of the Company’s direct subsidiaries, subject to limitations specified in the Credit Agreement. The Credit Agreement contains customary representations and warranties, events of default and financial, affirmative and negative covenants for facilities of this type, including but not limited to financial covenants relating to a fixed charge coverage ratio, a minimum liquidity requirement and a minimum excess availability requirement, and restrictions on indebtedness, liens, investments and acquisitions, asset dispositions, specified agreements, restricted payments and prepayment of certain indebtedness.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Revenue

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Revenue

REVENUE

The Company develops, manufactures and sells devices designed primarily for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves. These devices are marketed to a broad base of medical centers globally. The Company recognizes revenue when control of promised goods is transferred to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods.

United States revenue by product type is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Open ablation	$	30,760	$	27,002	$	60,060	$	52,144
Minimally invasive ablation	11,828		11,370		24,146		21,007
Pain management	15,006		12,590		27,745		23,658
Total ablation	$	57,594	$	50,962	$	111,951	$	96,809
Appendage management	37,945		33,941		73,837		66,283
Total United States	$	95,539	$	84,903	$	185,788	$	163,092

International revenue by product type is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Open ablation	$	9,170	$	7,722	$	17,072	$	15,008
Minimally invasive ablation	1,764		1,375		3,878		3,242
Pain management	1,241		439		2,178		667
Total ablation	$	12,175	$	9,536	$	23,128	$	18,917
Appendage management	8,555		6,479		16,204		12,403
Total International	$	20,730	$	16,015	$	39,332	$	31,320

Revenue attributed to customer geographic locations is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
United States	$	95,539	$	84,903	$	185,788	$	163,092

Europe	12,630		9,457		23,978		18,858
Asia Pacific	6,721		6,125		13,002		11,527
Other International	1,379		433		2,352		935
Total International	20,730		16,015		39,332		31,320
Total Revenue	$	116,269	$	100,918	$	225,120	$	194,412

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Inventories

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories consist of the following:


	June 30, 2024		December 31, 2023
Raw materials	$	36,860	$	36,751
Work in process	4,591		3,582
Finished goods	32,203		27,564
Total	$	73,654	$	67,897

Fair Value (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table represents the Company’s fair value hierarchy for its financial assets measured at fair value on a recurring basis as of June 30, 2024:


	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Total
Assets:
Money market funds	$	—	$	85,887	$	—	$	85,887

Government and agency obligations	7,985		—		—		7,985


Total assets	$	7,985	$	85,887	$	—	$	93,872

The following table represents the Company’s fair value hierarchy for its financial assets measured at fair value on a recurring basis as of December 31, 2023:


	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Total
Assets:
Money market funds	$	—	$	77,864	$	—	$	77,864

Government and agency obligations	12,711		—		—		12,711
Corporate bonds	—		38,033		—		38,033
Asset-backed securities	—		2,231		—		2,231
Total assets	$	12,711	$	118,128	$	—	$	130,839

Income Tax Provision (Narrative) (Details)	3 Months Ended		6 Months Ended
Income Tax Provision (Narrative) (Details)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Effective tax rate (in percent)	(3.30%)	(1.90%)	(2.10%)	(1.50%)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 36,860	$ 36,751
Work in process	4,591	3,582
Finished goods	32,203	27,564
Total	$ 73,654	$ 67,897

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning Balance (in shares) at Dec. 31, 2022		46,563
Beginning Balance at Dec. 31, 2022	$ 456,754	$ 47	$ 787,422	$ (326,619)	$ (4,096)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Impact of equity compensation plans (in shares)		789
Impact of equity compensation plans	15,775		15,775
Other comprehensive income	1,487				1,487
Net loss	(11,594)			(11,594)
Ending Balance (in shares) at Jun. 30, 2023		47,352
Ending Balance at Jun. 30, 2023	462,422	$ 47	803,197	(338,213)	(2,609)
Beginning Balance (in shares) at Mar. 31, 2023		47,244
Beginning Balance at Mar. 31, 2023	454,845	$ 47	790,965	(333,095)	(3,072)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Impact of equity compensation plans (in shares)		108
Impact of equity compensation plans	12,232		12,232
Other comprehensive income	463				463
Net loss	(5,118)			(5,118)
Ending Balance (in shares) at Jun. 30, 2023		47,352
Ending Balance at Jun. 30, 2023	462,422	$ 47	803,197	(338,213)	(2,609)
Beginning Balance (in shares) at Dec. 31, 2023		47,526
Beginning Balance at Dec. 31, 2023	466,168	$ 48	824,170	(357,057)	(993)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Impact of equity compensation plans (in shares)		1,160
Impact of equity compensation plans	16,770	$ 1	16,769
Other comprehensive income	424				424
Net loss	(21,277)			(21,277)
Ending Balance (in shares) at Jun. 30, 2024		48,686
Ending Balance at Jun. 30, 2024	462,085	$ 49	840,939	(378,334)	(569)
Beginning Balance (in shares) at Mar. 31, 2024		48,381
Beginning Balance at Mar. 31, 2024	456,313	$ 48	827,288	(370,326)	(697)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Impact of equity compensation plans (in shares)		305
Impact of equity compensation plans	13,652	$ 1	13,651
Other comprehensive income	128				128
Net loss	(8,008)			(8,008)
Ending Balance (in shares) at Jun. 30, 2024		48,686
Ending Balance at Jun. 30, 2024	$ 462,085	$ 49	$ 840,939	$ (378,334)	$ (569)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Comprehensive Loss and Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Summary of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consisted of the following, net of tax:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Total accumulated other comprehensive loss at beginning of period	$	(697)	$	(3,072)	$	(993)	$	(4,096)
Unrealized Gains (Losses) on Investments
Balance at beginning of period	$	(261)	$	(2,657)	$	(800)	$	(3,698)
Other comprehensive income before reclassifications	246		427		785		1,468

Balance at end of period	$	(15)	$	(2,230)	$	(15)	$	(2,230)
Foreign Currency Translation Adjustment
Balance at beginning of period	$	(436)	$	(415)	$	(193)	$	(398)
Other comprehensive (loss) income before reclassifications	(125)		28		(388)		153
Amounts reclassified to other income (expense)	7		8		27		(134)
Balance at end of period	$	(554)	$	(379)	$	(554)	$	(379)
Total accumulated other comprehensive loss at end of period	$	(569)	$	(2,609)	$	(569)	$	(2,609)

Intangible Assets (Company's Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	May 31, 2023
Finite-Lived Intangible Assets [Line Items]
Cost	$ 76,470	$ 76,470
Accumulated Amortization	16,232	12,484
Technology
Finite-Lived Intangible Assets [Line Items]
Cost	46,470	46,470
Accumulated Amortization	11,582	10,084
Patents
Finite-Lived Intangible Assets [Line Items]
Cost	30,000	30,000	$ 30,000
Accumulated Amortization	$ 4,650	$ 2,400

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Leases (Summary Of Components Of Lease Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease cost	$ 384	$ 325	$ 764	$ 635
Finance lease cost:
Amortization of right-of-use assets	268	255	523	510
Interest on lease liabilities	160	170	317	345
Total finance lease cost	$ 428	$ 425	$ 840	$ 855

Fair Value

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value

FAIR VALUE

The Financial Accounting Standards Board’s (FASB) Accounting Standards Codification (ASC) 820, “Fair Value Measurements and Disclosures” (ASC 820), defines fair value as the exchange price that would be received for an asset or paid to settle a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value:

•Level 1—Quoted prices in active markets for identical assets or liabilities.

•Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

•Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The following table represents the Company’s fair value hierarchy for its financial assets measured at fair value on a recurring basis as of June 30, 2024:


	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Total
Assets:
Money market funds	$	—	$	85,887	$	—	$	85,887

Government and agency obligations	7,985		—		—		7,985


Total assets	$	7,985	$	85,887	$	—	$	93,872

There were no changes in the levels or methodology of measurement of financial assets and liabilities during the three and six months ended June 30, 2024.

The following table represents the Company’s fair value hierarchy for its financial assets measured at fair value on a recurring basis as of December 31, 2023:


	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)		Total
Assets:
Money market funds	$	—	$	77,864	$	—	$	77,864

Government and agency obligations	12,711		—		—		12,711
Corporate bonds	—		38,033		—		38,033
Asset-backed securities	—		2,231		—		2,231
Total assets	$	12,711	$	118,128	$	—	$	130,839

Contingent Consideration. The Company’s contingent consideration arrangements arising from the SentreHEART acquisition obligate the Company to pay certain defined amounts to former shareholders of SentreHEART if specified milestones are met related to the aMAZE™ IDE clinical trial, including PMA approval and reimbursement for the therapy involving SentreHEART’s devices. The PMA approval milestone expired December 31, 2023, while the achievement period for the reimbursement milestone expires on December 31, 2026. The Company assessed the projected probability of payment during the contractual achievement periods to be remote, resulting in no reported fair value as of June 30, 2024 and December 31, 2023.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

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-Publisher FASB
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+ Details

Revenue (Revenue By Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 116,269	$ 100,918	$ 225,120	$ 194,412
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	95,539	84,903	185,788	163,092
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	12,630	9,457	23,978	18,858
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	6,721	6,125	13,002	11,527
Other International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	1,379	433	2,352	935
Total International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 20,730	$ 16,015	$ 39,332	$ 31,320

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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+ Details

Equity Compensation Plans

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Equity Compensation Plans

EQUITY COMPENSATION PLANS

The Company has two share-based incentive plans: the 2023 Stock Incentive Plan (2023 Plan) and the 2018 Employee Stock Purchase Plan (ESPP).

Stock Incentive Plan

Under the 2023 Plan, the Board of Directors may grant restricted stock awards or restricted stock units (collectively RSAs), nonstatutory stock options, performance share awards (PSAs) or stock appreciation rights to Company employees, directors and consultants, and may grant incentive stock options to Company employees. The Compensation Committee of the Board of Directors, as the administrator of the 2023 Plan, has the authority to determine the terms of any awards, including the number of shares subject to each award, the exercisability of the awards and the form of consideration. As of June 30, 2024, 4,087 shares of common stock have been reserved for issuance under the 2023 Plan, and 2,543 shares were available for future grants. The Company issues registered shares of common stock for stock option exercises, restricted stock grants and performance share award payments.

Employee Stock Purchase Plan

Under the ESPP, shares of the Company’s common stock may be purchased at a discount (15%) to the lesser of the closing price of the Company’s common stock on the first or last trading day of the offering period. The offering period (currently six months) and the offering price are subject to change. Participants may not purchase more than $25 of the Company’s common stock in a calendar year or more than 3 shares during an offering period. As of June 30, 2024, there were 621 shares available for future issuance under the ESPP.

Share-Based Compensation Expense Information

The following table summarizes the allocation of share-based compensation expense:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cost of revenue	$	628	$	471	$	1,158	$	914
Research and development expenses	1,733		1,540		3,352		2,844
Selling, general and administrative expenses	8,030		6,984		15,146		13,997
Total	$	10,391	$	8,995	$	19,656	$	17,755

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue	$ 116,269	$ 100,918	$ 225,120	$ 194,412
Cost of revenue	29,425	23,841	57,008	47,726
Gross profit	86,844	77,077	168,112	146,686
Operating expenses:
Research and development expenses	20,416	17,438	40,261	32,765
Selling, general and administrative expenses	73,596	63,783	145,936	123,847
Total operating expenses	94,012	81,221	186,197	156,612
Loss from operations	(7,168)	(4,144)	(18,085)	(9,926)
Other income (expense):
Interest expense	(1,612)	(1,719)	(3,289)	(3,355)
Interest income	997	961	1,949	1,836
Loss on debt extinguishment	0	0	(1,362)	0
Other income (expense)	28	(123)	(54)	22
Loss before income tax expense	(7,755)	(5,025)	(20,841)	(11,423)
Income tax expense	253	93	436	171
Net loss	$ (8,008)	$ (5,118)	$ (21,277)	$ (11,594)
Net (loss) income per share
Basic net loss per share (in usd per share)	$ (0.17)	$ (0.11)	$ (0.45)	$ (0.25)
Diluted net loss per share (in usd per share)	$ (0.17)	$ (0.11)	$ (0.45)	$ (0.25)
Weighted average shares outstanding
Weighted average shares outstanding—basic (in shares)	46,909	46,266	46,814	46,187
Weighted average shares outstanding—diluted (in shares)	46,909	46,266	46,814	46,187
Comprehensive income (loss):
Unrealized gain on investments	$ 246	$ 427	$ 785	$ 1,468
Foreign currency translation adjustment	(118)	36	(361)	19
Other comprehensive income	128	463	424	1,487
Net loss	(8,008)	(5,118)	(21,277)	(11,594)
Comprehensive loss, net of tax	$ (7,880)	$ (4,655)	$ (20,853)	$ (10,107)

Fair Value (Narrative) (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Contingent Consideration
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Remaining fair value	$ 0	$ 0

Leases

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

LEASES

The Company has operating and finance leases for office, manufacturing and warehouse facilities and automobiles. The Company’s leases have remaining lease terms of less than one year to nine years. Options to renew or extend leases beyond their initial term have been excluded from measurement of the right-of-use (ROU) assets and lease liabilities as exercise is not reasonably certain.

The weighted average remaining lease term and the discount rate for the reporting periods are as follows:


	June 30, 2024		December 31, 2023
Operating Leases
Weighted average remaining lease term (years)	4.6		4.8
Weighted average discount rate	5.99	%	5.75	%

Finance Leases
Weighted average remaining lease term (years)	6.2		6.7
Weighted average discount rate	7.07	%	6.93	%

A letter of credit for $1,250 issued to the lessor of the Company's corporate headquarters building is renewed annually and remains outstanding as of June 30, 2024.

The components of lease expense are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease cost	$	384	$	325	$	764	$	635

Finance lease cost:
Amortization of right-of-use assets	268		255		523		510
Interest on lease liabilities	160		170		317		345
Total finance lease cost	$	428	$	425	$	840	$	855

Short-term lease expense was not significant for the three and six months ended June 30, 2024 and 2023.

Supplemental cash flow information related to leases is as follows:


	Six Months Ended June 30, 2024		Six Months Ended June 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	453	$	602
Operating cash flows for finance leases	317		345
Financing cash flows for finance leases	505		483

Right-of-use assets and corresponding lease obligations related to new and modified lease agreements:
Operating leases	322		1,068
Finance leases	421		—

Supplemental balance sheet information related to leases is as follows:


	June 30, 2024		December 31, 2023
Operating Leases
Operating lease right-of-use assets	$	4,030	$	4,324

Current lease liabilities	1,412		1,447
Finance and operating lease liabilities	3,022		3,307
Total operating lease liabilities	$	4,434	$	4,754

Finance Leases
Property and equipment, at cost	$	14,765	$	14,620
Accumulated depreciation	(8,352)		(8,105)
Property and equipment, net	$	6,413	$	6,515

Current lease liabilities	$	1,129	$	1,086
Finance and operating lease liabilities	7,888		8,061
Total finance lease liabilities	$	9,017	$	9,147

Future maturities of lease liabilities as of June 30, 2024 are as follows:


	Operating Leases		Finance Leases
2024 (excluding the six months ended June 30, 2024)	$	1,740	$	860
2025	1,273		1,742
2026	940		1,774
2027	935		1,808
2028	527		1,842
2029 and thereafter	764		3,158
Total payments	$	6,179	$	11,184
Less imputed interest	(1,745)		(2,167)
Total	$	4,434	$	9,017

Leases

LEASES

The weighted average remaining lease term and the discount rate for the reporting periods are as follows:


	June 30, 2024		December 31, 2023
Operating Leases
Weighted average remaining lease term (years)	4.6		4.8
Weighted average discount rate	5.99	%	5.75	%

Finance Leases
Weighted average remaining lease term (years)	6.2		6.7
Weighted average discount rate	7.07	%	6.93	%

A letter of credit for $1,250 issued to the lessor of the Company's corporate headquarters building is renewed annually and remains outstanding as of June 30, 2024.

The components of lease expense are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease cost	$	384	$	325	$	764	$	635

Finance lease cost:
Amortization of right-of-use assets	268		255		523		510
Interest on lease liabilities	160		170		317		345
Total finance lease cost	$	428	$	425	$	840	$	855

Short-term lease expense was not significant for the three and six months ended June 30, 2024 and 2023.

Supplemental cash flow information related to leases is as follows:


	Six Months Ended June 30, 2024		Six Months Ended June 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	453	$	602
Operating cash flows for finance leases	317		345
Financing cash flows for finance leases	505		483

Right-of-use assets and corresponding lease obligations related to new and modified lease agreements:
Operating leases	322		1,068
Finance leases	421		—

Supplemental balance sheet information related to leases is as follows:


	June 30, 2024		December 31, 2023
Operating Leases
Operating lease right-of-use assets	$	4,030	$	4,324

Current lease liabilities	1,412		1,447
Finance and operating lease liabilities	3,022		3,307
Total operating lease liabilities	$	4,434	$	4,754

Finance Leases
Property and equipment, at cost	$	14,765	$	14,620
Accumulated depreciation	(8,352)		(8,105)
Property and equipment, net	$	6,413	$	6,515

Current lease liabilities	$	1,129	$	1,086
Finance and operating lease liabilities	7,888		8,061
Total finance lease liabilities	$	9,017	$	9,147

Future maturities of lease liabilities as of June 30, 2024 are as follows:


	Operating Leases		Finance Leases
2024 (excluding the six months ended June 30, 2024)	$	1,740	$	860
2025	1,273		1,742
2026	940		1,774
2027	935		1,808
2028	527		1,842
2029 and thereafter	764		3,158
Total payments	$	6,179	$	11,184
Less imputed interest	(1,745)		(2,167)
Total	$	4,434	$	9,017

Income Tax Provision	6 Months Ended
Income Tax Provision	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Tax Provision	INCOME TAX PROVISION The Company files federal, state and foreign income tax returns in jurisdictions with varying statutes of limitations. The Company uses the asset and liability method to determine its provision for income taxes. The Company’s provision for income taxes in interim periods is computed by applying the discrete method and is based on financial results through the end of the interim period. The Company determined that using the discrete method is more appropriate than using the annual effective tax rate method. The Company is unable to estimate the annual effective tax rate with sufficient precision to use the effective tax rate method, which requires a full-year projection of income. The effective tax rate for the three months ended June 30, 2024 and 2023 was (3.3%) and (1.9%). The effective tax rate for the six months ended June 30, 2024 and 2023 was (2.1%) and (1.5%). The Company’s worldwide effective tax rate differs from the US statutory rate of 21% primarily due to valuation allowances. The Company's federal, state, local and foreign tax returns are routinely subject to review by various taxing authorities. The Company has not accrued any interest and penalties related to unrecognized income tax benefits as a result of offsetting net operating losses. However, if required, the Company will recognize interest and penalties within income tax expense and within the related tax liability.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Revenue (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Revenue By Product Type

United States revenue by product type is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Open ablation	$	30,760	$	27,002	$	60,060	$	52,144
Minimally invasive ablation	11,828		11,370		24,146		21,007
Pain management	15,006		12,590		27,745		23,658
Total ablation	$	57,594	$	50,962	$	111,951	$	96,809
Appendage management	37,945		33,941		73,837		66,283
Total United States	$	95,539	$	84,903	$	185,788	$	163,092

International revenue by product type is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Open ablation	$	9,170	$	7,722	$	17,072	$	15,008
Minimally invasive ablation	1,764		1,375		3,878		3,242
Pain management	1,241		439		2,178		667
Total ablation	$	12,175	$	9,536	$	23,128	$	18,917
Appendage management	8,555		6,479		16,204		12,403
Total International	$	20,730	$	16,015	$	39,332	$	31,320

Revenue By Geographic Area

Revenue attributed to customer geographic locations is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
United States	$	95,539	$	84,903	$	185,788	$	163,092

Europe	12,630		9,457		23,978		18,858
Asia Pacific	6,721		6,125		13,002		11,527
Other International	1,379		433		2,352		935
Total International	20,730		16,015		39,332		31,320
Total Revenue	$	116,269	$	100,918	$	225,120	$	194,412

Inventories (Tables)

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Summary of Inventories

Inventories consist of the following:


	June 30, 2024		December 31, 2023
Raw materials	$	36,860	$	36,751
Work in process	4,591		3,582
Finished goods	32,203		27,564
Total	$	73,654	$	67,897

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended
	May 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Loss Contingencies [Line Items]
Royalty rates (in percent)					5.00%
Acquisition of intellectual property					$ 0	$ 30,000
Cost		$ 76,470			76,470		$ 76,470
Selling, general and administrative expenses		73,596	$ 63,783		145,936	123,847
AtriCure Versus Competitor
Loss Contingencies [Line Items]
Gain (loss) related to litigation settlement			3,500			$ 7,500
AtriCure Versus Competitor \| Pending Litigation
Loss Contingencies [Line Items]
Total amount awarded				$ 7,500
Patents
Loss Contingencies [Line Items]
Acquisition of intellectual property			33,400
Cost	$ 30,000	$ 30,000			$ 30,000		$ 30,000
Useful life (in years)	5 years
Royalty expense	$ 432
Selling, general and administrative expenses			$ 3,088

Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued compensation and employee-related expenses	$ 27,061	$ 39,425
Sales returns and allowances	2,744	2,503
Other accrued liabilities	2,213	2,754
Total	$ 32,018	$ 44,682

Investments (Narrative) (Details) - USD ($)	6 Months Ended
Investments (Narrative) (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Gain (loss) on investments	$ 0	$ 0

Leases (Schedule Of Maturities Of Lease Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Operating Leases
2024 (excluding the six months ended June 30, 2024)	$ 1,740
2025	1,273
2026	940
2027	935
2028	527
2029 and thereafter	764
Total payments	6,179
Less imputed interest	(1,745)
Total	4,434	$ 4,754
Finance Leases
2024 (excluding the six months ended June 30, 2024)	860
2025	1,742
2026	1,774
2027	1,808
2028	1,842
2029 and thereafter	3,158
Total payments	11,184
Less imputed interest	(2,167)
Total	$ 9,017	$ 9,147

Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Company's Intangible Assets

The following table provides a summary of the Company’s intangible assets:


	June 30, 2024				December 31, 2023
	Cost		Accumulated Amortization		Cost		Accumulated Amortization
Technology	$	46,470	$	11,582	$	46,470	$	10,084
Patents	30,000		4,650		30,000		2,400
Total	$	76,470	$	16,232	$	76,470	$	12,484

Finite-Lived Intangible Assets Amortization Expense

The following table summarizes the allocation of amortization expense of intangible assets:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cost of revenues	$	1,125	$	480	$	2,250	$	480
Research and development expenses	760		738		1,498		1,476
Total	$	1,885	$	1,218	$	3,748	$	1,956

Future Amortization Expense Related to Intangible Assets

Future amortization expense is projected as follows:


2024 (excluding the six months ended June 30, 2024)	$	3,771
2025	8,441
2026	9,535
2027	10,435
2028	6,535
2029 and thereafter	21,521
Total	$	60,238

Leases (Summary Of Supplemental Cash Flow Information Related To Leases) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 453	$ 602
Operating cash flows for finance leases	317	345
Financing cash flows for finance leases	505	483
Right-of-use assets and corresponding lease obligations related to new and modified lease agreements:
Operating leases	322	1,068
Finance leases	$ 421	$ 0

Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Summary of Weighted Average Remaining Lease Term and Discount Rate

The weighted average remaining lease term and the discount rate for the reporting periods are as follows:


	June 30, 2024		December 31, 2023
Operating Leases
Weighted average remaining lease term (years)	4.6		4.8
Weighted average discount rate	5.99	%	5.75	%

Finance Leases
Weighted average remaining lease term (years)	6.2		6.7
Weighted average discount rate	7.07	%	6.93	%

Summary of Components of Lease Expense

The components of lease expense are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease cost	$	384	$	325	$	764	$	635

Finance lease cost:
Amortization of right-of-use assets	268		255		523		510
Interest on lease liabilities	160		170		317		345
Total finance lease cost	$	428	$	425	$	840	$	855

Summary of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases is as follows:


	Six Months Ended June 30, 2024		Six Months Ended June 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	453	$	602
Operating cash flows for finance leases	317		345
Financing cash flows for finance leases	505		483

Right-of-use assets and corresponding lease obligations related to new and modified lease agreements:
Operating leases	322		1,068
Finance leases	421		—

Summary of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:


	June 30, 2024		December 31, 2023
Operating Leases
Operating lease right-of-use assets	$	4,030	$	4,324

Current lease liabilities	1,412		1,447
Finance and operating lease liabilities	3,022		3,307
Total operating lease liabilities	$	4,434	$	4,754

Finance Leases
Property and equipment, at cost	$	14,765	$	14,620
Accumulated depreciation	(8,352)		(8,105)
Property and equipment, net	$	6,413	$	6,515

Current lease liabilities	$	1,129	$	1,086
Finance and operating lease liabilities	7,888		8,061
Total finance lease liabilities	$	9,017	$	9,147

Schedule of Maturities of Lease Liabilities

Future maturities of lease liabilities as of June 30, 2024 are as follows:


	Operating Leases		Finance Leases
2024 (excluding the six months ended June 30, 2024)	$	1,740	$	860
2025	1,273		1,742
2026	940		1,774
2027	935		1,808
2028	527		1,842
2029 and thereafter	764		3,158
Total payments	$	6,179	$	11,184
Less imputed interest	(1,745)		(2,167)
Total	$	4,434	$	9,017

Description of Business and Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Shares not included in the computation of diluted earnings per share (in shares)	2,675	1,839
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 3,800		$ 3,432

Accrued Liabilities (Tables)

6 Months Ended

Jun. 30, 2024

Payables and Accruals [Abstract]

Accrued Liabilities

Accrued liabilities consist of the following:


	June 30, 2024		December 31, 2023
Accrued compensation and employee-related expenses	$	27,061	$	39,425
Sales returns and allowances	2,744		2,503
Other accrued liabilities	2,213		2,754
Total	$	32,018	$	44,682

Description of Business and Summary of Significant Accounting Policies (Policy)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the Business	Nature of the Business—The “Company” or “AtriCure” consists of AtriCure, Inc. and its wholly-owned subsidiaries. The Company is a leading innovator in surgical treatments and therapies for atrial fibrillation (Afib), left atrial appendage (LAA) management and post-operative pain management, and sells its products to medical centers globally through its direct sales force and distributors.
Basis of Presentation	Basis of Presentation—The accompanying interim financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (SEC). All intercompany accounts and transactions have been eliminated in consolidation. The accompanying interim financial statements are unaudited, but in the opinion of the Company’s management, contain all normal, recurring adjustments considered necessary to present fairly the financial position, results of operations and cash flows for the periods presented in conformity with accounting principles generally accepted in the United States of America (GAAP) applicable to interim periods. Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted or condensed. The Company believes the disclosures herein are adequate to make the information presented not misleading. Results of operations are not necessarily indicative of the results expected for the full year or for any future period. The accompanying interim financial statements should be read in conjunction with the Company’s audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC. There have been no changes in the Company's significant accounting policies for the six months ended June 30, 2024 as compared to the significant accounting policies described in the Company's Annual Report on Form 10-K for the year ended December 31, 2023.
Use of Estimates	Use of Estimates—The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, including inventories, intangible assets, valuation allowance for deferred income tax assets, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense, including share-based compensation expense. Estimates are based on historical experience, where applicable, and other reasonable assumptions. Actual results could differ from those estimates.
Segments	Segments—The Company's chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis, accompanied only by revenue information by product type and geographic area, for purposes of allocating resources and evaluating financial performance. Accordingly, the Company has determined that it has a single operating segment.
Earnings Per Share	Earnings Per Share—Basic and diluted net loss per share are computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Since the Company has experienced net losses for all periods presented, net loss per share excludes the effect of 2,675 and 1,839 shares as of June 30, 2024 and 2023 because they are anti-dilutive. Therefore, the number of shares used for basic and diluted net loss per share are the same.
Fair Value	FAIR VALUE The Financial Accounting Standards Board’s (FASB) Accounting Standards Codification (ASC) 820, “Fair Value Measurements and Disclosures” (ASC 820), defines fair value as the exchange price that would be received for an asset or paid to settle a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value: •Level 1—Quoted prices in active markets for identical assets or liabilities. •Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. •Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
Comprehensive Loss and Accumulated Other Comprehensive Loss	In addition to net losses, comprehensive loss includes foreign currency translation adjustments and unrealized gains (losses) on investments.

- Definition

Disclosure of accounting policy for segment reporting.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
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-Name Accounting Standards Codification
-Section 55
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-Subparagraph (bb)
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-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 29
-Subparagraph (f)
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-29

Reference 4: http://www.xbrl.org/2003/role/exampleRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 36
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-29

+ Details

Investments (Tables)

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale Securities Reconciliation

Investments as of June 30, 2024 consisted of the following:


	Cost Basis		Unrealized Losses		Fair Value

Government and agency obligations	$	8,000	$	(15)	$	7,985

Investments as of December 31, 2023 consisted of the following:


	Cost Basis		Unrealized Losses		Fair Value
Corporate bonds	$	38,514	$	(481)	$	38,033
Government and agency obligations	12,998		(287)		12,711

Asset-backed securities	2,263		(32)		2,231
Total	$	53,775	$	(800)	$	52,975

Debt Securities, Available-for-Sale

The cost and fair value of investments in debt securities, by contractual maturity, as of June 30, 2024 were as follows:


	Available-for-sale
	Amortized Cost		Fair Value
Due in 1 year or less	$	8,000	$	7,985

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (21,277)	$ (11,594)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Share-based compensation expense	19,656	17,755
Depreciation	5,231	4,567
Amortization of intangible assets	3,748	1,956
Amortization of deferred financing costs	239	243
Amortization of investments	107	294
Loss on debt extinguishment	1,362	0
Other non-cash adjustments	534	487
Changes in operating assets and liabilities:
Accounts receivable	(3,131)	(5,563)
Inventories	(5,887)	(9,377)
Other current assets	(1,069)	(1,696)
Accounts payable	(10)	2,945
Accrued liabilities	(12,564)	(1,084)
Other noncurrent assets and liabilities	(575)	(1)
Net cash used in operating activities	(13,636)	(1,068)
Cash flows from investing activities:
Sales and maturities of available-for-sale securities	45,668	48,315
Purchases of property and equipment	(5,158)	(5,582)
Proceeds from sale of property and equipment	25	0
Acquisition of intellectual property	0	(30,000)
Net cash provided by investing activities	40,535	12,733
Cash flows from financing activities:
Proceeds from revolving credit facility, net of financing costs	61,210	0
Payments on debt and leases	(62,329)	(483)
Payment of financing costs and bank fees	(1,002)	(60)
Proceeds from stock option exercises	3,809	4,058
Shares repurchased for payment of taxes on stock awards	(6,696)	(6,038)
Net cash used in financing activities	(5,008)	(2,523)
Effect of exchange rate changes on cash and cash equivalents	(166)	(1)
Net increase in cash and cash equivalents	21,725	9,141
Cash and cash equivalents—beginning of period	84,310	58,099
Cash and cash equivalents—end of period	106,035	67,240
Supplemental cash flow information:
Cash paid for interest	2,175	3,078
Net cash paid for income taxes	509	159
Non-cash investing and financing activities:
Accrued purchases of property and equipment	$ 845	$ 1,046

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit losses	$ 400	$ 500
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	90,000	90,000
Common stock, shares issued (in shares)	48,686	47,526
Common stock, shares outstanding (in shares)	48,686	47,526

Comprehensive Loss and Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Comprehensive Loss and Accumulated Other Comprehensive Loss

COMPREHENSIVE LOSS AND ACCUMULATED OTHER COMPREHENSIVE LOSS

In addition to net losses, comprehensive loss includes foreign currency translation adjustments and unrealized gains (losses) on investments.

Accumulated other comprehensive loss consisted of the following, net of tax:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Total accumulated other comprehensive loss at beginning of period	$	(697)	$	(3,072)	$	(993)	$	(4,096)
Unrealized Gains (Losses) on Investments
Balance at beginning of period	$	(261)	$	(2,657)	$	(800)	$	(3,698)
Other comprehensive income before reclassifications	246		427		785		1,468

Balance at end of period	$	(15)	$	(2,230)	$	(15)	$	(2,230)
Foreign Currency Translation Adjustment
Balance at beginning of period	$	(436)	$	(415)	$	(193)	$	(398)
Other comprehensive (loss) income before reclassifications	(125)		28		(388)		153
Amounts reclassified to other income (expense)	7		8		27		(134)
Balance at end of period	$	(554)	$	(379)	$	(554)	$	(379)
Total accumulated other comprehensive loss at end of period	$	(569)	$	(2,609)	$	(569)	$	(2,609)

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES License Agreement. The Company had been a party to a license agreement that required royalty payments of 5% of specified product sales. In May 2023, the Company entered into an agreement that terminated the license agreement and the Company's obligations to make royalty payments under the license agreement. See Legal section below for additional information. Purchase Agreements. The Company enters into standard purchase agreements with suppliers in the ordinary course of business, generally with terms that allow cancellation. Legal. The Company may, from time to time, become a party to legal proceedings. Such matters are subject to many uncertainties and to outcomes of which the financial impacts are not predictable with assurance and that may not be known for extended periods of time. A liability is established once management determines a loss is probable and an amount can be reasonably estimated. The Company recognizes income from a favorable resolution of legal proceedings when the associated cash or assets are received. The Company received a Civil Investigative Demand (CID) from the U.S. Department of Justice (USDOJ) in December 2017 stating that it is investigating the Company to determine whether the Company has violated the False Claims Act, relating to the promotion of certain medical devices related to the treatment of atrial fibrillation for off-label use and submitted or caused to be submitted false claims to certain federal and state health care programs for medically unnecessary healthcare services related to the treatment of atrial fibrillation. The CID covers the period from January 2010 to December 2017 and required the production of documents and answers to written interrogatories. The Company had no knowledge of the investigation prior to receipt of the CID. The Company maintains rigorous policies and procedures to promote compliance with the False Claims Act and other applicable regulatory requirements. The Company provided the USDOJ with documents and answers to the written interrogatories. In March 2021, USDOJ informed the Company that its investigation was based on a lawsuit brought on behalf of the United States and various state and local governments under the qui tam provisions of federal and certain state and local False Claims Acts. Although the USDOJ and all of the state and local governments declined to intervene, the relator continues to pursue the case. During the third quarter of 2022, the relator filed a Fourth Amended Complaint, which dropped allegations of off-label promotion and alleges that the Company paid illegal kickbacks to healthcare providers in exchange for using or referring the Company’s products, in violation of the federal Anti-Kickback Statute and various comparable state and local laws. While the Company is contesting the case, it is not possible to predict when this matter may be resolved or what impact, if any, the outcome of this matter might have on our consolidated financial position, results of operations or cash flows. On August 23, 2022, the Cleveland Clinic Foundation (“CCF”) and IDx Medical, Ltd. (“IDx”) filed a Demand for Arbitration against the Company with the American Arbitration Association (“AAA”), alleging that the Company breached certain provisions of the License Agreement dated December 9, 2003 among the Company, Clinic and IDx (“License Agreement”). Clinic and IDx alleged that the Company did not include the revenues from sales of certain products in its royalty payments due under the License Agreement, and the Company did not provide related notices required under the License Agreement. The Company filed its Answering Statement and Counterclaims to the allegations in September 2022, denying each claim and counterclaiming for breach of contract, correction of inventorship, declaratory judgment, patent prosecution and legal fees. In May 2023, the Company entered into an Assignment and Agreement Regarding IDx and CCF Intellectual property (“Assignment Agreement”) with Clinic and IDx. Pursuant to the Assignment Agreement, during the second quarter of 2023, the Company made a one-time payment of $33,400 to Clinic and IDx for the acquisition of patents and other intellectual property. The Assignment Agreement also requires dismissal of the arbitration and release of payment for royalty obligations due to Clinic and IDx under the License Agreement after March 31, 2023. The amount paid, together with transaction costs, was allocated between the acquired intangible asset, the release of payment for royalty obligations and the settlement of the dispute. The intangible asset was assigned a value of $30,000 and is being amortized over an estimated useful life of 5 years. The release of the royalty obligations was valued at $432. The remaining $3,088 was allocated to the settlement and was included in selling, general and administrative expenses for the three months ended June 30, 2023. During the first quarter of 2023, the Company entered into a legal settlement for $7,500 in connection with the settlement of claims filed against a competitor. The Company recorded a $3,500 gain for the three months ended June 30, 2023 and $7,500 for the six months ended June 30, 2023 for the proceeds received as a reduction to selling, general and administrative expenses.

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 106,035	$ 84,310
Short-term investments	7,985	52,975
Accounts receivable, less allowance for credit losses of $400 and $500	55,568	52,501
Inventories	73,654	67,897
Prepaid and other current assets	9,610	8,563
Total current assets	252,852	266,246
Property and equipment, net	42,175	42,435
Operating lease right-of-use assets	4,030	4,324
Intangible assets, net	60,238	63,986
Goodwill	234,781	234,781
Other noncurrent assets	3,197	2,160
Total Assets	597,273	613,932
Current liabilities:
Accounts payable	26,666	27,354
Accrued liabilities	32,018	44,682
Current lease liabilities	2,541	2,533
Total current liabilities	61,225	74,569
Long-term debt	61,865	60,593
Finance and operating lease liabilities	10,910	11,368
Other noncurrent liabilities	1,188	1,234
Total Liabilities	135,188	147,764
Commitments and contingencies (Note 9)
Stockholders’ Equity:
Common stock, $0.001 par value, 90,000 shares authorized and 48,686 and 47,526 issued and outstanding	49	48
Additional paid-in capital	840,939	824,170
Accumulated other comprehensive loss	(569)	(993)
Accumulated deficit	(378,334)	(357,057)
Total Stockholders’ Equity	462,085	466,168
Total Liabilities and Stockholders’ Equity	$ 597,273	$ 613,932

Leases (Summary Of Supplemental Balance Sheet Information Related To Leases) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Operating Leases
Operating lease right-of-use assets	$ 4,030	$ 4,324
Current lease liabilities	1,412	1,447
Finance and operating lease liabilities	3,022	3,307
Total operating lease liabilities	4,434	4,754
Finance Leases
Property and equipment, at cost	14,765	14,620
Accumulated depreciation	(8,352)	(8,105)
Property and equipment, net	6,413	6,515
Current lease liabilities	1,129	1,086
Finance and operating lease liabilities	7,888	8,061
Total finance lease liabilities	$ 9,017	$ 9,147

Equity Compensation Plans (Narrative) (Details) shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) plan shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based incentive plans (in shares) \| plan	2
Offering period	6 months
Participants purchase limit shares (in shares)	3
2023 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)	4,087
Shares available for future grants (in shares)	2,543
2008 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company's common stock may be purchased at a discount (percent)	15.00%
Participants purchase limit value \| $	$ 25
Additional shares authorized (in shares)	621

Leases (Narrative) (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Lessee, Lease, Description [Line Items]
Letter of credit outstanding	$ 1,250
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms (in years)	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms (in years)	9 years

Accrued Liabilities

6 Months Ended

Jun. 30, 2024

Payables and Accruals [Abstract]

Accrued Liabilities

ACCRUED LIABILITIES

Accrued liabilities consist of the following:


	June 30, 2024		December 31, 2023
Accrued compensation and employee-related expenses	$	27,061	$	39,425
Sales returns and allowances	2,744		2,503
Other accrued liabilities	2,213		2,754
Total	$	32,018	$	44,682

Investments

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Investments

INVESTMENTS

Investments as of June 30, 2024 consisted of the following:


	Cost Basis		Unrealized Losses		Fair Value

Government and agency obligations	$	8,000	$	(15)	$	7,985

Investments as of December 31, 2023 consisted of the following:


	Cost Basis		Unrealized Losses		Fair Value
Corporate bonds	$	38,514	$	(481)	$	38,033
Government and agency obligations	12,998		(287)		12,711

Asset-backed securities	2,263		(32)		2,231
Total	$	53,775	$	(800)	$	52,975

The gross realized gains or losses from sales of available-for-sale investments were not significant in the three and six months ended June 30, 2024 and 2023.

The cost and fair value of investments in debt securities, by contractual maturity, as of June 30, 2024 were as follows:


	Available-for-sale
	Amortized Cost		Fair Value
Due in 1 year or less	$	8,000	$	7,985

Instruments not due at a single maturity date consist of asset-backed securities. Actual maturities may differ from the contractual maturities due to call or prepayment rights.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Indebtedness (Narrative) (Details) $ in Thousands		3 Months Ended		6 Months Ended		13 Months Ended
Indebtedness (Narrative) (Details) $ in Thousands	Jan. 05, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jan. 31, 2025 USD ($)
Line of Credit Facility [Line Items]
Loss on debt extinguishment		$ 0	$ 0	$ 1,362	$ 0
Line of Credit \| ABL Facility
Line of Credit Facility [Line Items]
Annual facility fee (in percent)	0.37%
Line of Credit \| ABL Facility \| Forecast \| Subsequent Event
Line of Credit Facility [Line Items]
Line of credit facility, minimum utilization threshold, percentage (in percent)						0.40
Line of Credit \| ABL Facility \| Adjusted Base Rate \| Minimum
Line of Credit Facility [Line Items]
Basis rate (in percent)	1.50%
Line of Credit \| ABL Facility \| Adjusted Base Rate \| Maximum
Line of Credit Facility [Line Items]
Basis rate (in percent)	1.75%
Line of Credit \| ABL Facility \| Secured Overnight Financing Rate (SOFR) \| Minimum
Line of Credit Facility [Line Items]
Basis rate (in percent)	2.50%
Line of Credit \| ABL Facility \| Secured Overnight Financing Rate (SOFR) \| Maximum
Line of Credit Facility [Line Items]
Basis rate (in percent)	2.75%
Line of Credit \| ABL Facility \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	$ 125,000
Line of credit facility, accordion feature, increase limit	40,000
Line of credit facility, maximum borrowing capacity, including accordion feature	$ 165,000
Line of credit, borrowings		61,865		61,865
Line of credit facility, remaining borrowing capacity		$ 61,885		$ 61,885
Maturity period of short term investment (in years)	3 years
Line of Credit \| ABL Facility \| Revolving Credit Facility \| Forecast
Line of Credit Facility [Line Items]
Line of credit facility, minimum utilization threshold, amount						$ 50,000
Line of Credit \| ABL Facility \| Revolving Credit Facility \| Adjusted Term Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Basis rate (in percent)	0.50%
Line of Credit \| ABL Facility \| Revolving Credit Facility \| NTFRB Rate
Line of Credit Facility [Line Items]
Basis rate (in percent)	1.00%
Line of Credit \| ABL Facility \| Letter of Credit
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	$ 5,000
Term Loan \| Silicon Valley Bank Agreement
Line of Credit Facility [Line Items]
Loss on debt extinguishment	$ 1,362

Leases (Summary Of Weighted Average Remaining Lease Term And Discount Rate) (Details)	Jun. 30, 2024	Dec. 31, 2023
Operating Leases
Weighted average remaining lease term (years)	4 years 7 months 6 days	4 years 9 months 18 days
Weighted average discount rate	5.99%	5.75%
Finance Leases
Weighted average remaining lease term (years)	6 years 2 months 12 days	6 years 8 months 12 days
Weighted average discount rate	7.07%	6.93%

Description of Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Significant Accounting Policies	DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of the Business—The “Company” or “AtriCure” consists of AtriCure, Inc. and its wholly-owned subsidiaries. The Company is a leading innovator in surgical treatments and therapies for atrial fibrillation (Afib), left atrial appendage (LAA) management and post-operative pain management, and sells its products to medical centers globally through its direct sales force and distributors. Basis of Presentation—The accompanying interim financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (SEC). All intercompany accounts and transactions have been eliminated in consolidation. The accompanying interim financial statements are unaudited, but in the opinion of the Company’s management, contain all normal, recurring adjustments considered necessary to present fairly the financial position, results of operations and cash flows for the periods presented in conformity with accounting principles generally accepted in the United States of America (GAAP) applicable to interim periods. Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted or condensed. The Company believes the disclosures herein are adequate to make the information presented not misleading. Results of operations are not necessarily indicative of the results expected for the full year or for any future period. The accompanying interim financial statements should be read in conjunction with the Company’s audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC. There have been no changes in the Company's significant accounting policies for the six months ended June 30, 2024 as compared to the significant accounting policies described in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. Use of Estimates—The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, including inventories, intangible assets, valuation allowance for deferred income tax assets, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense, including share-based compensation expense. Estimates are based on historical experience, where applicable, and other reasonable assumptions. Actual results could differ from those estimates. Segments—The Company's chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis, accompanied only by revenue information by product type and geographic area, for purposes of allocating resources and evaluating financial performance. Accordingly, the Company has determined that it has a single operating segment. The Company’s long-lived assets are located in the United States, except for $3,800 as of June 30, 2024 and $3,432 as of December 31, 2023 located primarily in Europe. Earnings Per Share—Basic and diluted net loss per share are computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Since the Company has experienced net losses for all periods presented, net loss per share excludes the effect of 2,675 and 1,839 shares as of June 30, 2024 and 2023 because they are anti-dilutive. Therefore, the number of shares used for basic and diluted net loss per share are the same.

Equity Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation Expense Related To Employee Share-Based Compensation

The following table summarizes the allocation of share-based compensation expense:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cost of revenue	$	628	$	471	$	1,158	$	914
Research and development expenses	1,733		1,540		3,352		2,844
Selling, general and administrative expenses	8,030		6,984		15,146		13,997
Total	$	10,391	$	8,995	$	19,656	$	17,755

Comprehensive Loss and Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 456,313	$ 454,845	$ 466,168	$ 456,754
Ending Balance	462,085	462,422	462,085	462,422
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(697)	(3,072)	(993)	(4,096)
Ending Balance	(569)	(2,609)	(569)	(2,609)
Unrealized Gains (Losses) on Investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(261)	(2,657)	(800)	(3,698)
Other comprehensive income before reclassifications	246	427	785	1,468
Ending Balance	(15)	(2,230)	(15)	(2,230)
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(436)	(415)	(193)	(398)
Other comprehensive income before reclassifications	(125)	28	(388)	153
Amounts reclassified to other income (expense)	7	8	27	(134)
Ending Balance	$ (554)	$ (379)	$ (554)	$ (379)

- Definition

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount after tax of reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net loss	$ (8,008)	$ (5,118)	$ (21,277)	$ (11,594)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Equity Compensation Plans (Share-Based Compensation Expense Related To Employee Share-Based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	$ 10,391	$ 8,995	$ 19,656	$ 17,755
Cost of revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	628	471	1,158	914
Research and development expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	1,733	1,540	3,352	2,844
Selling, general and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	$ 8,030	$ 6,984	$ 15,146	$ 13,997

Investments (Summary of Cost and Fair Value) (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Amortized Cost
Due in 1 year or less	$ 8,000
Fair Value
Due in 1 year or less	$ 7,985

Investments (Summary Of Short-term Investments) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Summary of Investment Holdings [Line Items]
Cost Basis		$ 53,775
Unrealized Losses		(800)
Fair Value		52,975
Corporate bonds
Summary of Investment Holdings [Line Items]
Cost Basis		38,514
Unrealized Losses		(481)
Fair Value		38,033
Government and agency obligations
Summary of Investment Holdings [Line Items]
Cost Basis	$ 8,000	12,998
Unrealized Losses	(15)	(287)
Fair Value	$ 7,985	12,711
Asset-backed securities
Summary of Investment Holdings [Line Items]
Cost Basis		2,263
Unrealized Losses		(32)
Fair Value		$ 2,231

- Definition

Cost of the investment.

+ References

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Revenue (Revenue By Product Type) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue from External Customer [Line Items]
Revenue	$ 116,269	$ 100,918	$ 225,120	$ 194,412
United States
Revenue from External Customer [Line Items]
Revenue	95,539	84,903	185,788	163,092
United States \| Total ablation
Revenue from External Customer [Line Items]
Revenue	57,594	50,962	111,951	96,809
United States \| Open ablation
Revenue from External Customer [Line Items]
Revenue	30,760	27,002	60,060	52,144
United States \| Minimally invasive ablation
Revenue from External Customer [Line Items]
Revenue	11,828	11,370	24,146	21,007
United States \| Pain management
Revenue from External Customer [Line Items]
Revenue	15,006	12,590	27,745	23,658
United States \| Appendage management
Revenue from External Customer [Line Items]
Revenue	37,945	33,941	73,837	66,283
Total International
Revenue from External Customer [Line Items]
Revenue	20,730	16,015	39,332	31,320
Total International \| Total ablation
Revenue from External Customer [Line Items]
Revenue	12,175	9,536	23,128	18,917
Total International \| Open ablation
Revenue from External Customer [Line Items]
Revenue	9,170	7,722	17,072	15,008
Total International \| Minimally invasive ablation
Revenue from External Customer [Line Items]
Revenue	1,764	1,375	3,878	3,242
Total International \| Pain management
Revenue from External Customer [Line Items]
Revenue	1,241	439	2,178	667
Total International \| Appendage management
Revenue from External Customer [Line Items]
Revenue	$ 8,555	$ 6,479	$ 16,204	$ 12,403

- Definition

+ References

+ Details

Fair Value (Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets:
Assets	$ 93,872	$ 130,839
Money market funds
Assets:
Assets	85,887	77,864
Government and agency obligations
Assets:
Assets	7,985	12,711
Corporate bonds
Assets:
Assets		38,033
Asset-backed securities
Assets:
Assets		2,231
Quoted Prices in ‎Active Markets for ‎Identical Assets ‎(Level 1)
Assets:
Assets	7,985	12,711
Quoted Prices in ‎Active Markets for ‎Identical Assets ‎(Level 1) \| Money market funds
Assets:
Assets	0	0
Quoted Prices in ‎Active Markets for ‎Identical Assets ‎(Level 1) \| Government and agency obligations
Assets:
Assets	7,985	12,711
Quoted Prices in ‎Active Markets for ‎Identical Assets ‎(Level 1) \| Corporate bonds
Assets:
Assets		0
Quoted Prices in ‎Active Markets for ‎Identical Assets ‎(Level 1) \| Asset-backed securities
Assets:
Assets		0
Significant Other ‎Observable Inputs ‎(Level 2)
Assets:
Assets	85,887	118,128
Significant Other ‎Observable Inputs ‎(Level 2) \| Money market funds
Assets:
Assets	85,887	77,864
Significant Other ‎Observable Inputs ‎(Level 2) \| Government and agency obligations
Assets:
Assets	0	0
Significant Other ‎Observable Inputs ‎(Level 2) \| Corporate bonds
Assets:
Assets		38,033
Significant Other ‎Observable Inputs ‎(Level 2) \| Asset-backed securities
Assets:
Assets		2,231
Significant Other ‎Unobservable ‎Inputs (Level 3)
Assets:
Assets	0	0
Significant Other ‎Unobservable ‎Inputs (Level 3) \| Money market funds
Assets:
Assets	0	0
Significant Other ‎Unobservable ‎Inputs (Level 3) \| Government and agency obligations
Assets:
Assets	$ 0	0
Significant Other ‎Unobservable ‎Inputs (Level 3) \| Corporate bonds
Assets:
Assets		0
Significant Other ‎Unobservable ‎Inputs (Level 3) \| Asset-backed securities
Assets:
Assets		$ 0

Indebtedness (Future Maturities On Debt) (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Debt Disclosure [Abstract]
2024	$ 0
2025	0
2026	0
2027	61,865
2028	0
Total long-term debt, of which $61,865 is noncurrent	61,865
Long term debt excluding current maturities and fees	$ 61,865

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details