Maintaining fixed growth scenario: AtriCure, Inc. (NASDAQ: ATRC)

On 23 March 2020, AtriCure, Inc. (NASDAQ: ATRC) stock observed trading -40.98% off 52-week high price. On the other end, the stock has been noted 16.39% away from low price over the last 52-weeks. The stock disclosed a move of -29.14% away from 50 day moving average and -14.90% away from 200 day moving average. Moving closer, we can see that shares have been trading -23.32% off 20-day moving average.

AtriCure, Inc. (ATRC) recently reported fourth quarter 2019 and full year 2019 financial results.

Fourth Quarter 2019 Financial Results

Revenue for the fourth quarter of 2019 was $61.3M, a raise of $8.4M or 15.9% (16.4% on a constant currency basis), contrast to fourth quarter 2018 revenue. U.S. revenue was $49.5M, a raise of $6.4M or 14.9%, contrast to fourth quarter 2018 revenue. International revenue increased 20.5% (a raise of 22.8% on a constant currency basis) to $11.8M. Both U.S. and international revenue growth were driven by increased sales across appendage management and open ablation product lines.

Gross profit for the fourth quarter of 2019 was $44.8M contrast to $38.6M for the fourth quarter of 2018. Gross margin was 73.0% for both the fourth quarter of 2019 and 2018.

Operating expenses for the fourth quarter of 2019 increased 45.9%, or $18.9M, contrast to the fourth quarter of 2018. The increase in operating expense was driven by a $6.1M year over year change in non-cash charges related to the contingent consideration liability and about $5.8M related to the absorption of SentreHEART headcount, aMAZE clinical trial expenses, and acquisition related costs. Other expense drivers include increased personnel costs resulting from additional headcount and variable compensation and research and development project spend.

Loss from operations for the fourth quarter of 2019 was $15.3M, contrast to $2.6M for the fourth quarter of 2018. Net loss per share was $0.42 for the fourth quarter of 2019 contrast to a net loss per share of $0.09 for the fourth quarter of 2018.

Adjusted EBITDA was a loss of $5.4M for the fourth quarter of 2019 contrast to positive $0.3M for the fourth quarter of 2018. Adjusted loss per share for the fourth quarter of 2019 was $0.37 contrast to $0.21 for the fourth quarter of 2018. Adjusted EBITDA and adjusted loss per share are non-GAAP measures.

2019 Financial Results

Revenue for 2019 was $230.8M, a raise of $29.2M or 14.5% (15.2% on a constant currency basis), contrast to 2018 revenue. US revenue increased 14.6% to $185.8M, driven by growth across our open ablation products and appendage management products. International revenue was $45.0M, a raise of $5.5M or 13.9% (17.6% on a constant currency basis). International revenue growth was driven by primarily by increases in product sales in China, the United Kingdom, Germany, Australia and Japan.

Gross profit for 2019 was $170.3M contrast to $147.1M for 2018. Gross margin for 2019 increased to 73.8% contrast to 73.0% for 2018.

Loss from operations for 2019 was $33.1M, contrast to $17.1M for 2018. Adjusted EBITDA was a loss of $6.7M for 2019, contrast to $2.7M for 2018. Net loss per share was $0.94 for 2019 contrast to $0.62 for 2018. The adjusted loss per share for 2019 was $1.07 contrast to an adjusted loss per share of $0.94 for 2018.

2020 Financial Guidance

Revenue is projected to be about $254M to $261M, reflecting growth of about 10% to 13% over full year 2019. Adjusted EBITDA is projected to be a loss of about $10M for 2020. Adjusted net loss per share is projected to be in the range of $1.14 to $1.24.

The USA based company AtriCure, Inc. moved with change of 4.79% to $26.27 with the total traded volume of 432620 shares in recent session versus to an average volume of 374.54K. ATRC’s shares are at -14.46% for the quarter and driving a -6.18% return over the course of the past year and is now at -19.19% since this point in 2018.  Right now the stock beta is 0.91. The average volatility for the week and month was at 13.25% and 7.90% respectively. There are 36.02M shares outstanding and 36.02M shares are floated in market.

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