On Thursday, AtriCure, Inc. (NASDAQ: ATRC) negotiated 215,585 shares against it an average volume of 231,553 shares. The stock concluded the recent trade at $32.54 with upbeat/downbeat trend move of -1.09%. The company has total market value of 1.232B billion. The company has got a 52-week exceptional price of $36.49 and reached a 52-week lowest of the share price at $14.88. The daily trading range was observed between a day’s low price of $31.51 to a day’s high price of $33.04.
AtriCure, Inc. (Nasdaq: ATRC) recently reported second quarter 2018 financial results. “Our second quarter results reflect strong revenue growth, solid operational performance and continued execution on our planned priorities,” stated Mike Carrel, President and Chief Executive Officer of AtriCure. “We are happy to be reporting positive adjusted EBITDA for the second quarter as well as raising our revenue expectations for the year.”
Second Quarter 2018 Financial Results
Revenue for the second quarter of 2018 was $51.8M, an raise of $6.6M or 14.5% (13.5% on a constant currency basis), contrast to second quarter 2017 revenue. U.S. revenue raised 14.9% to $40.8M, driven by raised sales of ablation-related open-heart products and appendage management products. International revenue was $11.0M, an raise of $1.3M or 13.1% (8.3% on a constant currency basis), contrast to second quarter 2017 revenue, driven primarily by raised sales in Asia and certain European markets.
Gross profit for the second quarter of 2018 was $38.1M contrast to $32.6M for the second quarter of 2017. Gross margin for the second quarter of 2018 raised to 73.5% contrast to 72.0% in the second quarter of 2017, driven primarily by product mix.
Operating expenses for the second quarter of 2018 reduced 4.6%, or $1.8M, contrast to the second quarter of 2017. The decrease in operating expenses was primarily Because of a contingent consideration adjustment of $5.9M recorded in the second quarter of 2018.
Income from operations for the second quarter of 2018 was $1.0M, contrast to a loss of $6.4M for the second quarter of 2017. Net loss per share was $0.01 for the second quarter of 2018 contrast to $0.21 for the second quarter of 2017. The adjusted loss per share for the second quarter of 2018, which excludes the contingent consideration adjustment, was $0.19.
Adjusted EBITDA, a non-GAAP measure, was positive $0.8M for the second quarter of 2018 and a loss of $0.4M for the second quarter of 2017 (see reconciliation of GAAP results to non-GAAP results in the table accompanying this release).
2018 Financial Guidance
Management is raising its 2018 revenue guidance. Revenue for 2018 is projected to be about $193M to $197M. Management continues to expect positive full-year adjusted EBITDA, a non-GAAP measure, with legal fees continuing to be a watch item.
In the liquidity ratio analysis; quick ratio for most recent quarter was 2.40 while current ratio for time period was 3.20. In most recent quarter, LT Debt/Equity ratio was listed at 0.32 and Total Debt/Equity ratio was noted at 0.33. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy; and EPi-Sense guided coagulation system used for the temporary cardiac signal sensing and recording during surgery.