AtriCure, Inc., a medical device company, engages in the development, manufacture, and sale of cardiac surgical ablation systems designed to create precise lesions, or scars, in cardiac tissue.
Highlights earnings report
- Revenues of $13.7 million – up 1% year over year and up 13% sequentially
- Adjusted operating loss of $1.1 million – 71% improvement
- First quarter of positive adjusted EBITDA – $0.6 million
- Completed $10 million credit facility which includes a $6.5 million term loan
- EXCLUDE enrollment to be completed in May
- Cryo1™ received 510(k) clearance and initial human cases successfully completed
After restructuring the company did get it first quarter of positive adjusted EBITDA , together with the new credit facility and high gross profit for its products means that this company will survive.
Atricure is worth $6 based on its latest earnings report +credit facility.
Sales will increase in the second half of this year with building momentum next year.
