On 17 Jan 19, AtriCure, Inc. (NASDAQ:ATRC) stock concluded the recent trade at $31.22 with upbeat/downbeat trend move of +1.33%.The company has total market value of 1.203B. After opening the first trading session at $30.79, it registered a day’s high of $31.65 and touched a day’s low of $30.301.
AtriCure, Inc. (ATRC) recently reported third quarter 2018 financial results.
“We are happy with our third quarter performance and building track record of strong, consistent, revenue growth,” stated Mike Carrel, President and Chief Executive Officer of AtriCure. “We remain confident that our focus on clinical data, education and innovation will continue to position the company for long term success.”
Third Quarter 2018 Financial Results
Revenue for the third quarter of 2018 was $49.9M, an raise of $7.8M or 18.5% (18.6% on a constant currency basis), contrast to the third quarter of 2017. U.S. revenue raised 19.1% to $39.8M, driven by raised sales of open-heart ablation products and appendage management products. International revenue was $10.2M, an raise of $1.4M or 16.2% (16.9% on a constant currency basis), contrast to the third quarter of 2017, driven primarily by raised sales in European markets.
Gross profit for the third quarter of 2018 was $35.9M contrast to $30.9M for the third quarter of 2017. Gross margin for the third quarter of 2018 reduced to 72.0% contrast to 73.4% in the third quarter of 2017, driven primarily by a one-time charge for share-based compensation related to a retiring operations leader, as well as product mix.
Operating expenses for the third quarter of 2018 raised 11.2%, or $4.2M, contrast to the third quarter of 2017. The raise in operating expenses was primarily Because of raised costs associated with personnel, as well as research and development project spend, partially offset by lower meeting and demonstration product costs, and an adjustment to contingent consideration.
Loss from operations for the third quarter of 2018 was $6.0M, contrast to a loss of $6.8M for the third quarter of 2017. Net loss per share was $0.22 for both the third quarter of 2018 and 2017. The adjusted loss per share for the third quarter of 2018, which excludes the contingent consideration adjustment, was $0.24.
2018 Financial Guidance
Revenue for 2018 is projected to be about $198M to $201M. Adjusted EBITDA, a non-GAAP measure, is now projected to be a loss in the range of $1.0M to $3.0M. Net loss per share is projected to be in the range of $0.69 to $0.74.
ATRC stock price showed strong performance of 3.34% in last seven days, switched up 6.41% in last thirty days and it rose 76.28% in last one year. It has 39.00 million of outstanding shares.