AtriCure, Inc. (ATRC)
NASDAQHealth CareMedical - Instruments & SuppliesSnapshot 2026-09-09
$53.03-1.30%
Close 2026-09-09 · 1-day change
NASDAQHealth CareMedical - Instruments & SuppliesSnapshot 2026-09-09
Intact: The reason to own it still holds.
AtriCure aims for $600M-$610M revenue in 2026, showing steady growth. The company targets positive net income and $80M-$82M adjusted EBITDA this year. Recent trial progress supports revenue growth. Earnings beats suggest improving execution.
Profitability remains weak with EPS guidance near zero for 2026. Adjusted EBITDA targets are uncertain and progress is mixed. High valuation with a PE over 1000 signals risk if growth stalls.
The price is about 15% above our fair value near $29. Analysts expect roughly 15% revenue growth, which aligns with management's guidance. Our view is cautious given mixed profitability and soft EPS outlook.
Breaks if: Adjusted EBITDA falls below $80M in FY26
Breaks if: net income remains negative for full year 2026
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a speculative growth opportunity. ATRC is currently loss-making but has shown strong recent financial performance, which supports its multi-year view despite elevated risks in the market.
The market currently prices ATRC at an expensive valuation compared to its peers. There is an expectations gap, indicating that investors may be anticipating further improvements in performance that are not fully justified by the company's fundamentals.
Management is on track to achieve its revenue and adjusted EBITDA targets for 2026, showing a positive trajectory. However, the company remains loss-making, which adds a layer of uncertainty to its fundamentals.
The future performance of ATRC hinges on management's ability to maintain guidance and the overall health of the healthcare sector. Key triggers include potential guidance cuts and the performance of sector bellwethers, which could impact investor sentiment.
The most important moves since the prior daily snapshot.
Yes, our read has strengthened. The latest earnings beat supports the positive outlook. Additionally, advancements in clinical trials for BoxX-NoAF and LeAAPS reinforce growth potential. There are no new threats impacting the thesis.
as of 2026-09-09
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Deliver positive net income for full year 2026, with net income per share expected between $0.05 and $0.13.
Stated as a priority in 2 of last 2 quarters. Net income per share improved from breakeven $0.00 in 2026-Q1 to $0.18 in 2026-Q2. Management expects full year 2026 net income per share between $0.05 and $0.13, indicating delivery of positive net income is underway and trajectory is improving.
“Full year 2026 net income per share is expected to be in the range of $0.05 to $0.13”
“Net income per share was breakeven at $0.00 for the first quarter 2026”
Breaks if: revenue falls below $600M in FY26
Continue growing revenue to reach approximately $600 million to $610 million for full year 2026.
Stated as a priority in 2 of last 2 quarters. Revenue grew from $141.2 million in 2026-Q1 to $153.6 million in 2026-Q2 (+8.7%). Management projects full year 2026 revenue of approximately $602 million to $610 million, consistent with prior guidance. The trajectory is delivering growth aligned with this target.
“Full year 2026 revenue is projected to be approximately $602 million to $610 million”
“Full year 2026 revenue is projected to be approximately $600 million to $610 million”
In the next 1 to 3 years, ATRC's performance will depend on its execution against targets and external market conditions. Not investment advice.