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ATRC on Nasdaq

AtriCure (United States)

AtriCure (United States) is a leading innovator in surgical treatments and therapies for atrial fibrillation.1 It was founded in 2000.1 It is headquartered in Sharonville.1 Its shares trade on Nasdaq under the symbol ATRC.1

$57.08 down 0.23 (0.39%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 21, 2026.

Overview

2000Founded1

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  • TickerATRC on Nasdaq1
  • IndustrySurgical & Medical Instruments & Apparatus1
  • HeadquartersSharonville1
  • Websitewww.atricure.com
  • Incorporated inDE4
  • Business address7555 Innovation Way, Mason, Oh 450404
  • Filer categoryLarge accelerated filer4

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AtriCure (United States) image from its website
Image: atricure.com6

We are a leading innovator in surgical treatments and therapies for atrial fibrillation (Afib or AF), left atrial appendage (LAA) management and post-operative pain management. Afib is an irregular heartbeat, or arrhythmia, which affects over 59 million people worldwide and is a growing epidemic. It is the most common cardiac arrhythmia encountered in clinical practice and results in high utilization of healthcare services and significant cost burden. Patients often progress from being in Afib intermittently (paroxysmal) to being in Afib continuously (non-paroxysmal). The continuous Afib patient population includes early persistent Afib, which lasts seven days to six months, persistent Afib, which lasts six months to one year, and long-standing persistent Afib, which lasts longer than one year. It is estimated that over four million people in the United States currently suffer from long-…7 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

75.0%Gross margin8
-1.8%Operating margin8
-2.1%Net margin8
14.9%Revenue growth, 20258
-2.3%Return on equity8
0.13×Debt to equity8
$48.3MFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Regions

United States brought in 81% of the revenue AtriCure (United States) broke down this way in fiscal 2025.

  1. United States$435.4M881%up 14% from 2024
  2. Europe$61.5M812%up 23% from 2024
  3. Asia Pacific$30.7M86%up 12% from 2024
  4. Other International$6.9M81%up 32% from 2024
Regions by year
Regions202320242025
United States$333.5M$382.8M$435.4M
Europe$38.5M$49.9M$61.5M
Asia Pacific$24.5M$27.4M$30.7M
Other International$2.7M$5.2M$6.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue25¢$133.7M
  • Research and development18¢$99.2M
  • Selling, general and admin57¢$311.0M
  • Income tax0¢$1.3M

Out of $534.5M in revenue.8 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending16¢$9.1M
  • Kept or used elsewhere84¢$48.3M

Out of $57.3M of cash from operations.8

Financial statements

Revenue91011128$534.5M in 2025+132% since 2019
0$200.0M$400.0M$600.0M2019: $230.8M$230.8M20192020: $206.5M$206.5M2020−11%2021: $274.3M$274.3M2021+33%2022: $330.4M$330.4M2022+20%2023: $399.2M$399.2M2023+21%2024: $465.3M$465.3M2024+17%2025: $534.5M$534.5M2025+15%
Gross profit91011128$400.8M in 2025+135% since 2019
0$200.0M$400.0M$600.0M2019: $170.3M$170.3M20192020: $149.3M$149.3M2020−12%2021: $205.9M$205.9M2021+38%2022: $245.9M$245.9M2022+19%2023: $300.4M$300.4M2023+22%2024: $347.5M$347.5M2024+16%2025: $400.8M$400.8M2025+15%
Operating income91011128-$9.4M in 2025−71% since 2019
-$50.0M-$25.0M0$25.0M$50.0M$75.0M2019: -$33.1M-$33.1M20192020: -$44.2M-$44.2M2020+34%2021: $55.2M$55.2M20212022: -$42.7M-$42.7M20222023: -$26.7M-$26.7M2023−37%2024: -$40.0M-$40.0M2024+50%2025: -$9.4M-$9.4M2025−76%
Net income91011128-$11.4M in 2025−67% since 2019
-$50.0M-$25.0M0$25.0M$50.0M$75.0M2019: -$35.2M-$35.2M20192020: -$48.2M-$48.2M2020+37%2021: $50.2M$50.2M20212022: -$46.5M-$46.5M20222023: -$30.4M-$30.4M2023−34%2024: -$44.7M-$44.7M2024+47%2025: -$11.4M-$11.4M2025−74%

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
Revenue$534.5M$465.3M$399.2M
Cost of revenue$133.7M$117.8M$98.9M
Gross profit$400.8M$347.5M$300.4M
Research and development expenses$99.2M$96.2M$73.9M
Selling, general and administrative expenses$311.0M$291.4M$253.1M
Total operating expenses$410.2M$387.5M$327.1M
Loss from operations-$9.4M-$40.0M-$26.7M
Interest expense-$5.9M-$6.4M-$6.9M
Interest income$4.5M$4.4M$3.8M
Loss on debt extinguishment$0-$1.4M$0
Other income (expense)$683.0K-$326.0K-$31.0K
Loss before income tax expense-$10.2M-$43.7M-$29.8M
Income tax expense$1.3M$1.0M$591.0K
Net loss-$11.4M-$44.7M-$30.4M
Basic net loss per share (in usd per share)-$0.24-$0.95-$0.66
Diluted net loss per share (in usd per share)-$0.24-$0.95-$0.66
Weighted average shares outstanding, basic (in shares)47.8M shares47.0M shares46.3M shares
Weighted average shares outstanding, diluted (in shares)47.8M shares47.0M shares46.3M shares
Unrealized gain on investments$0$800.0K$2.9M
Foreign currency translation adjustment$1.6M-$842.0K$205.0K
Other comprehensive income (loss)$1.6M-$42.0K$3.1M
Comprehensive loss, net of tax-$9.8M-$44.7M-$27.3M

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Corporate structure

AtriCure (United States) sits at the top of its group. 9 entities, 9 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of AtriCure (United States)

  • AtriCure (United States) Sharonville
    • AtriCure Asia Pacific PTE., Ltd., incorporated in Subsidiary · Singapore
    • AtriCure Canada, Inc., incorporated in Subsidiary · Canada
    • AtriCure Europe, B.V., incorporated in Subsidiary · Netherlands
    • AtriCure Germany GmbH, incorporated in Subsidiary · Germany
    • AtriCure Hong Kong Limited, incorporated in Subsidiary · Hong Kong
    • AtriCure Japan Co., Ltd., incorporated in Subsidiary · Japan
    • AtriCure Spain, S.L., incorporated in Subsidiary · Spain
    • AtriCure UK Limited, incorporated in Subsidiary · United Kingdom

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What AtriCure (United States) reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Finance-lease assets$4.8M8 Dec 31, 2025$5.9M8 Dec 31, 2024−17.8%
Operating-lease assets (leased space)$6.9M8 Dec 31, 2025$5.7M8 Dec 31, 2024+19.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$167.4M8 Dec 31, 2025$122.7M8 Dec 31, 2024+36.4%
Marketable securities, current$012 Dec 31, 2024$53.0M12 Dec 31, 2023−100.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$234.8M8 Dec 31, 2025$234.8M8 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$48.0M8 Dec 31, 2025$56.5M8 Dec 31, 2024−14.9%
Finite-lived intangibles, gross$76.5M8 Dec 31, 2025$76.5M8 Dec 31, 20240%
Accumulated amortization$28.4M8 Dec 31, 2025$20.0M8 Dec 31, 2024+42.2%
Finite-lived intangibles, net$48.0M8 Dec 31, 2025$56.5M12 Dec 31, 2024−14.9%

Inventory

ItemLatestA year beforeChange
Inventory, total$78.5M8 Dec 31, 2025$75.3M8 Dec 31, 2024+4.2%
Raw materials$39.1M8 Dec 31, 2025$37.7M8 Dec 31, 2024+3.6%
Work in process$3.8M8 Dec 31, 2025$3.6M8 Dec 31, 2024+4.3%
Finished goods$35.7M8 Dec 31, 2025$34.0M8 Dec 31, 2024+4.9%

Properties, in its own words

The Company operates in the following principal locations:

•AtriCure Corporate Headquarters Campus; Mason, Ohio – The campus encompasses three buildings in Mason, Ohio, including our global headquarters facility that contains the Company's administrative, clinical, regulatory, engineering,

The rest of Item 2

product development, quality and manufacturing functions. The headquarters facility is approximately 106,000 square feet. The Mason Distribution Warehouse is primarily used for warehousing and distribution activities and is approximately 52,000 square feet. The Mason Manufacturing Building is used for manufacturing, quality and engineering activities and is currently under construction to expand the 38,500 square feet facility to approximately 103,500 square feet for additional manufacturing and office space.

•Minnetonka, Minnesota – This location includes administrative, clinical, regulatory and product development space and is approximately 32,000 square feet.

•Pleasanton, California – This location is used for product development activities and is approximately 6,000 square feet.

•Amsterdam, Netherlands – This location houses administrative functions for our international operations and is approximately 9,000 square feet.

•Hertogenbosch, Netherlands – This location is used for European service activities and is approximately 19,000 square feet.

The Company believes that its existing facilities, including current expansion activities. are adequate to meet its immediate needs. We intend to add new facilities as we grow, and we believe that suitable additional space will be available in the future on commercially reasonable terms as needed.

Item 2 of the 10-K filed Feb 19, 2026.7

Leadership

Who has led AtriCure (United States), and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. David J. Drachman2007–2012
  2. Michael H. Carrel2012–now

President

  1. David J. Drachman2007–2012
  2. Michael H. Carrel2012–now

Chief financial officer

  1. Thomas J. Etergino2006
  2. Julie A. Piton2007–2012
  3. M. Andrew Wade2013–2020
  4. Angela L. Wirick2020–now

Chief operating officer

  1. Andrew L. Lux2012–2013
  2. Douglas J. Seith2015–now
20052010201520202025
Board members and other officers (40)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • AtriCure Asia Pacific PTE., Ltd., incorporated in Singapore5
  • AtriCure Canada, Inc., incorporated in Canada5
  • AtriCure Europe, B.V., incorporated in the Netherlands5
  • AtriCure Germany GmbH, incorporated in Germany5
  • AtriCure Hong Kong Limited, incorporated in Hong Kong5
  • AtriCure Japan Co., Ltd., incorporated in Japan5
  • AtriCure Spain, S.L., incorporated in Spain5
  • AtriCure UK Limited, incorporated in the United Kingdom5

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Jul 23, 20268-K Results of operations62
  2. May 19, 20268-K Executive or director change; Shareholder vote63
  3. May 6, 20268-K Results of operations64
  4. May 5, 20268-K Results of operations65
  5. Feb 17, 20268-K Results of operations66
  6. Jan 12, 20268-K Entered a material agreement; Results of operations; New debt or obligation67
  7. Oct 29, 20258-K Results of operations68
  8. Oct 29, 20258-K Results of operations69
  9. Jul 29, 20258-K Results of operations70
  10. May 20, 20258-K Executive or director change; Shareholder vote71
  11. Apr 29, 20258-K Results of operations72
  12. Mar 26, 20258-K Regulation FD disclosure73
  13. Nov 5, 2012New chief executive Michael H. Carrel becomes CEO16
  14. Jun 22, 2007New chief executive David J. Drachman becomes CEO17
  15. 2000Founded Founded1

Calendar

Coming up

  1. Nov 3, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported ($0.01) a share, on Oct 29, 2025.74

When it reported results

  1. Jul 23, 2026Reported quarterly or annual results62
  2. May 6, 2026Reported quarterly or annual results64
  3. May 5, 2026Reported quarterly or annual results65
  4. Feb 17, 2026Reported quarterly or annual results66
  5. Jan 12, 2026Reported quarterly or annual results67
  6. Oct 29, 2025Reported quarterly or annual results68
  7. Oct 29, 2025Reported quarterly or annual results69
  8. Jul 29, 2025Reported quarterly or annual results70

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

346 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 36 major events, 195 insider forms, 31 large holders, 64 other. The latest 20:

  1. Oct 5, 2026SCHEDULE 13G/A EDGAR
  2. Sep 24, 20264 EDGAR
  3. Sep 23, 2026144 EDGAR
  4. Sep 14, 20264 EDGAR
  5. Sep 11, 2026144 EDGAR
  6. Sep 10, 20264 EDGAR
  7. Sep 8, 2026144 EDGAR
  8. Sep 4, 20264 EDGAR
  9. Sep 2, 2026144 EDGAR
  10. Aug 26, 20264 EDGAR
  11. Aug 24, 2026144 EDGAR
  12. Aug 14, 2026SCHEDULE 13G/A EDGAR
  13. Aug 7, 20264 EDGAR
  14. Aug 7, 20264 EDGAR
  15. Aug 5, 2026144 EDGAR
  16. Aug 5, 2026144 EDGAR
  17. Aug 3, 20264 EDGAR
  18. Jul 30, 20264 EDGAR
  19. Jul 30, 20264 EDGAR
  20. Jul 30, 20264 EDGAR

The 346 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

50 open-market trades by officers, directors and large owners since October 2021: 1 buys and 49 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 23, 2026Privitera SalvatoreChief Technical OfficerSale4,519$60.00$271.1KForm 4
Sep 11, 2026GROVES REGINA EDirectorSale5,313$54.22$288.1KForm 4
Sep 8, 2026Privitera SalvatoreChief Technical OfficerSale3,657$55.00$201.1KForm 4
Sep 2, 2026Privitera SalvatoreChief Technical OfficerSale7,763$52.50$407.6KForm 4
Aug 24, 2026Dahlquist Karl S.Chief Legal OfficerSale9,370$48.89$458.1KForm 4
Aug 5, 2026Yuen MaggieDirectorSale3,500$38.42$134.5KForm 4
Aug 5, 2026Prange KarenDirectorSale3,564$38.80$138.3KForm 4
Jul 29, 2026Noznesky Justin JChief Mktg & Strategy OfficerSale6,182$38.80$239.9KForm 4
Jul 28, 2026Doraiswamy VinayakChief Scientific OfficerSale6,000$38.88$233.3KForm 4
Jul 28, 2026WEHRWEIN SVENDirectorSale25,000$37.84$946.0KForm 4
May 20, 2026Prange KarenDirectorSale3,000$28.65$86.0KForm 4
May 15, 2026Doraiswamy VinayakChief Scientific OfficerSale5,000$28.13$140.7KForm 4
Mar 12, 2026Doraiswamy VinayakChief Scientific OfficerSale5,000$29.83$149.2KForm 4
Nov 26, 2025Noznesky Justin JChief Mktg & Strategy OfficerSale5,166$37.29$192.6KForm 4
Nov 25, 2025WEHRWEIN SVENDirectorSale4,967$38.00$188.7KForm 4
Nov 24, 2025WEHRWEIN SVENDirectorSale5,033$37.32$187.8KForm 4
Nov 21, 2025Yuen MaggieDirectorSale3,000$35.72$107.2KForm 4
Sep 12, 2025Noznesky Justin JChief Mktg & Strategy OfficerSale3,000$36.30$108.9KForm 4
Aug 22, 2025WEHRWEIN SVENDirectorSale5,000$37.00$185.0KForm 4
Aug 19, 2025WEHRWEIN SVENDirectorSale5,000$36.00$180.0KForm 4

All 50 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Michael H. Carrel55$828.4K$9.2M87
2025Douglas J. Seith60$572.2K$3.9M87
2025Angela L. Wirick48$523.4K$3.6M87
2025Salvatore Privitera59$447.8K$2.7M87
2025Justin J. Noznesky48$452.1K$2.4M87
2024President and Chief$824.4K$11.1M87
2024Chief Operating Officer$551.1K$4.1M87
2024Chief Financial Officer$462.9K$3.3M87
2024Chief Marketing and$434.7K$2.3M87
2023Executive Officer$804.3K$8.7M87
2023Chief Operating Officer$535.0K$3.5M87
2023Chief Financial Officer$447.4K$2.9M87
2023Chief Technical Officer$418.7K$2.1M87

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.4,474,548$125.2M0.0%+431,867
Wellington Management Group Llp3,495,603$97.8M0.0%+113,048
Vanguard Portfolio Management LLC3,127,195$87.5M0.0%+424,563
Hood River Capital Management LLC2,905,299$81.3M0.6%−212,246
Alliancebernstein L.P.2,768,365$79.0M0.0%−490,507
Vanguard Capital Management LLC2,190,413$61.3M0.0%+34,649
Nomura Asset Management International Inc.1,734,279$48.5M0.1%−70,648
Goldman Sachs Group Inc1,597,988$44.7M0.0%−69,178
State Street Corp1,389,989$38.9M0.0%+87,827
Marshall Wace, Llp1,333,904$37.3M0.0%−133,620
Geode Capital Management, LLC1,319,687$36.9M0.0%+93,571
Arrowstreet Capital, Limited Partnership1,296,209$36.3M0.0%+1,018,527
Dimensional Fund Advisors LP1,044,034$29.2M0.0%+46,275
Neuberger Berman Group LLC947,982$26.6M0.0%−102,300
Champlain Investment Partners, LLC938,567$26.3M0.7%−32,544
BNP PARIBAS ASSET MANAGEMENT Holding S.A.897,419$25.1M0.0%−163,387
Bank Of America Corp /de/874,370$24.5M0.0%+105,809
Kennedy Capital Management LLC857,787$24.0M0.4%+23,632
Divisadero Street Capital Management, LP800,931$22.4M0.5%−359,024
Point72 Asset Management, L.P.604,380$16.9M0.0%New
DAFNA Capital Management LLC597,431$16.7M3.2%No change
First Eagle Investment Management, LLC595,286$16.7M0.0%+333,143
Grandeur Peak Global Advisors, LLC587,399$16.4M3.8%+205,497
Massachusetts Financial Services Co /ma/580,621$16.2M0.0%−4,732
First Light Asset Management, LLC567,838$15.9M1.0%−161,683

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

7 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Sep 29, 2026Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$1,001 - $15,000+4.4%Report
Aug 20, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+16.9%Report
Mar 3, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+64.8%Report
May 6, 2025Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+49.7%Report
Jul 19, 2024Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+91.4%Report
Jun 18, 2024Josh GottheimerDemocratic, HouseSale$1,001 - $15,000−123.8%Report
Jun 8, 2021Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+106.8%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How AtriCure (United States) is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAtriCure, Inc.2
  • CIK0001323885
  • Employer ID (EIN)34-19403057
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company7
  • Incorporated inDelaware7
  • Fiscal year endsDecember 312
  • Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus2
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance2
  • Business address7555 Innovation Way, Mason, OH 450402
  • Phone513-755-41002
  • Shares outstanding50,866,294 as of Jul 22, 202614
  • Public float$1.6B as of Jun 30, 20257
  • AuditorDeloitte & Touche LLP, Cincinnati, Ohio PCAOB ID 34; it also attests to the company’s internal control over financial reporting7
  • On EDGAR sinceApr 20, 20052
  • Filings1,564 in all: 4 (906), 8-K (189), SC 13G/A (77), 10-Q (64), 3 (50), 144 (36), S-8 (26), SC 13G (25)2
    All 39 form types

    DEF 14A (22), 10-K (21), DEFA14A (18), SD (13), 3/A (9), ARS (9), 424B5 (8), EFFECT (8), SCHEDULE 13G/A (8), UPLOAD (8), 8-K/A (7), SC 13D/A (7), CORRESP (6), SCHEDULE 13G (6), S-1/A (5), 4/A (4), 424B3 (4), POS AM (4), S-3 (4), S-3ASR (4), SC 13D (4), S-3/A (3), 10-K/A (1), 424B4 (1), 424B7 (1), 5 (1), 8-A12G (1), NT 10-Q (1), POSASR (1), PRE 14A (1), S-1 (1)

  • Latest filingsAnnual report (10-K) Feb 19, 2026
    Quarterly report (10-Q) Jul 27, 2026
    Proxy statement (DEF 14A) Apr 6, 2026
    Latest 8-K (8-K) Jul 23, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $.001 par valueATRCNASDAQ Global Market

From the cover page of the 10-K filed Feb 19, 2026 (Section 12(b) of the Exchange Act).7

Risk factors and legal proceedings

The risks AtriCure (United States) names in Item 1A of its 10-K filed Feb 19, 2026: 40 risks under these headings, as written.7

  • Commercial Execution and Product Performance Risks
  • Industry Condition Risks
  • Operational Risks
  • Legal & Compliance Risks
  • Financial Risks
  • Common Stock Risks
  • If our products do not achieve widespread market acceptance in the United States, our operating results will be harmed, and we may not achieve or sustain profitability.
  • Competition from existing and new products and procedures may decrease our market share and may cause our revenue to decline, and could adversely affect our operating results.
  • Any clinical data that is generated regarding our products may not be positive, and our current and planned clinical trials may not satisfy the requirements of the FDA or other regulatory authorities.
  • We rely on independent distributors to market and sell our products in certain markets outside of the United States, and a failure of our independent distributors to successfully market our products or any disruption in their ability to do so may adversely impact our sales.
  • Industry Conditions Risks
  • A prolonged downturn in macroeconomic conditions may materially and adversely affect our business.
The other 35 risks
  • Healthcare costs have risen significantly over the past decade. There have been and may continue to be proposals by legislators, regulators and third-party payors to contain or reduce healthcare costs.
  • Adverse changes in governmental and third-party payors’ policies toward coverage and reimbursement for surgical procedures would harm our ability to promote and sell our products.
  • We may experience unfavorable publicity relating to our business or our industry. This publicity could have a negative impact on our sales, our ability to attract and retain customers, clinical studies involving our products, our reputation and our stock price.
  • We rely upon single and limited source third-party suppliers and third-party service providers, making us vulnerable to supply problems and price fluctuations which could harm our business.
  • Our manufacturing operations are highly centralized, and disruption at our manufacturing facilities could increase our expenses and decrease our revenue.
  • If we fail to properly manage our anticipated growth, our business could suffer.
  • We depend on our officers and other skilled and experienced personnel to operate our business effectively. If we are not able to retain our current employees or recruit, hire, train and integrate additional qualified personnel, our business will suffer and our future revenue and profitability will be impaired.
  • Disruptions of critical information systems or material breaches in the security of our systems could harm our business, customer relations and financial condition.
  • Our insurance may not cover our indemnification obligations and other liabilities associated with our operations.
  • We spend considerable time and money complying with federal, state and foreign regulations in addition to FDA regulations, and, if we do not fully comply with such regulations, we could face substantial penalties.
  • If we fail to comply with the extensive FDA regulations relating to our business, we may be subject to fines, injunctions and penalties, and our ability to commercially distribute and promote our products may be hurt.
  • Unless and until we obtain additional FDA approval for our products, we will not be able to promote them for the treatment of Afib, prevention of stroke, or reduction of post-operative Afib, and our ability to maintain and grow our business could be harmed. We may be subject to fines, penalties, injunctions and other sanctions if we are deemed to be promoting the use of our products for unapproved, or off-label, uses.
  • Modifications to our products may require new clearances or approvals or may require us to cease promoting or to recall the modified products until such clearances or approvals are obtained and FDA may not agree with our conclusions regarding whether new clearances or approvals were required.
  • If we or our third-party vendors fail to comply with extensive FDA regulations relating to the manufacturing of our products or component parts, we may be subject to fines, injunctions and penalties, and our ability to commercially distribute and sell our products may be hurt.
  • The use of products we sell may result in injuries or other adverse events that lead to product liability suits, which could be costly to our business or our customers’ businesses.
  • Our intellectual property rights may not provide meaningful commercial protection for our products, which could enable third parties to use our technology or methods, or very similar technology or methods, and could reduce our ability to compete.
  • The medical device industry is characterized by extensive litigation and administrative proceedings over patent and other intellectual property rights and any litigation or claim against us may cause us to incur substantial costs, could place a significant strain on our financial resources, divert the attention of management from our business and harm our reputation.
  • We sell our products outside of the United States, and we are subject to various regulatory and other risks relating to international operations, which could harm our revenue and profitability.
  • Changes in United States and international trade policies may adversely impact our business and operating results.
  • Due to the global nature of our business, we may be exposed to liabilities under the Foreign Corrupt Practices Act and various other anti-corruption laws, and any allegation or determination that we violated these laws could have a material adverse effect on our business.
  • The use of artificial intelligence ("AI") technology by our employees or business partners could result in misuse or loss of proprietary information, violation of laws and regulations, or damage to our reputation and credibility.
  • Our quarterly financial results are likely to fluctuate significantly because the pace of adoption of our products by clinicians is uncertain.
  • We have a history of net losses, and we may never become profitable.
  • Governmental authorities may challenge our intercompany transfer pricing policies or change their laws in a manner that could increase our effective tax rate or otherwise harm our business.
  • If our goodwill becomes impaired, it could materially reduce the value of our assets and reduce our net income or increase our net loss for the year in which the impairment occurs.
  • An inability to forecast future revenue or estimate life cycles of products may result in inventory-related charges that would negatively affect our gross margins and results of operations.
  • We are subject to credit risk from our accounts receivable related to our sales, which include sales into countries outside the United States that may experience economic turmoil.
  • We may be unable to comply with the covenants of our Credit Agreement.
  • We may fail to meet our publicly announced guidance or other expectations about our business and future operating results, which could cause a decline in our stock price.
  • Securities analysts may not continue, or additional securities analysts may not initiate, coverage for our common stock or may issue negative reports. This may have a negative impact on the market price of our common stock.
  • The price and trading volume of our common stock may experience extreme fluctuations and our stockholders could lose some or all of their investment.
  • The sale of material amounts of common stock could encourage short sales by third parties and depress the price of our common stock. As a result, our stockholders may lose all or part of their investment.
  • Sales of common stock by us in a capital raising transaction or our issuances of shares in an acquisition may dilute stockholder ownership of common stock and cause a decline in the market price of our common stock.
  • Anti-takeover provisions in our amended and restated certificate of incorporation and amended and restated bylaws and under Delaware law could inhibit a change in control or a change in management that stockholders consider favorable.
  • We do not expect to pay dividends in the foreseeable future. As a result, stockholders must rely on stock appreciation for any return on investment.

Legal proceedings

We may from time to time become a party to additional legal proceedings that arise in the ordinary course of business. See Note 10 – Commitments and Contingencies to our Consolidated Financial Statements.

The opening of Item 3, Legal Proceedings.7

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