Recent News
On October 27, 2025, AtriCure announced management participation at investor conferences, including a UBS Global Healthcare fireside discussion and a Stifel Healthcare presentation scheduled for November. On December 11, 2025, Investor’s Business Daily reported an RS Rating upgrade into the 80s, noting momentum and a cup-with-handle pattern breakout above a defined buy point.
Technical Analysis
Directional indicators show a strong trend environment: ADX at 36.52 signals a strong directional market, amplifying current momentum and increasing the potential impact of directional moves on near-term price action.
DI+ at 29.42 shows a decreasing trend while DI- at 12.19 shows a dip-and-reversal; both indicate directional pressure that favors sellers over recent sessions, which weighs against sustained upward moves despite broader trend strength.
MACD sits at 1.38 with the signal line at 1.37, producing a recent bullish cross above the signal line, but the MACD trend reads decreasing; that combination implies a short-lived bullish trigger inside fading momentum.
MRO at 32.81 and trending increasing places the price above the regression target and suggests elevated downside potential as the oscillator climbs further above target levels.
RSI at 55.03 with a peak-and-reversal pattern indicates momentum exhausted near recent highs and supports a higher probability of a corrective leg over the coming sessions.
Price sits at $40.55 above the 50-day ($36.70) and 200-day ($34.39) averages, near the 12-day EMA ($40.38, increasing) but slightly below the 20-day average ($40.75) and the Tenkan line ($40.76), implying short-term resistance around recent moving-average bands while longer-term averages remain supportive.
Bollinger bands compress modestly (20-day stdev $0.97; upper band ~$41.72, lower ~$39.79), and the SuperTrend lower support at $38.01 provides a defined intraday support reference for momentum-based decisions.
Fundamental Analysis
Revenue totaled $134,269,000 with YoY revenue growth of 344.66% and QoQ change of -1.37%. Gross profit reached $101,332,000, producing a gross margin of 75.47%, a small YoY margin uptick of 0.79 percentage points.
Operating income registered at $208,000 and EBIT at $1,382,000, yielding an EBIT margin of 1.03%, below the industry peer mean of 11.17% and the industry peer median of 16.79%, indicating material operating leverage opportunities remain relative to peers.
EPS came in at -$0.01 versus an estimate of -$0.12, an improvement of $0.11 and an EPS surprise of 91.7%, which reflects better-than-expected per-share performance despite a small absolute loss.
EBITDA reached $6,551,000 with adjusted free cash flow of $24,111,000 and a free cash flow yield of 1.36%, above the industry peer mean free cash flow yield of 0.76%, supporting valuation resilience from cash generation.
Balance-sheet metrics show $147,865,000 in cash and short-term investments, a current ratio of 3.87 and a cash ratio of 1.90, indicating strong near-term liquidity. Total debt equals $76,730,000, debt-to-assets 12.08% and debt-to-EBITDA roughly 11.71x, reflecting modest leverage but elevated relative coverage given current EBITDA levels.
Profitability measures remain compressed: return on equity at -0.056% and return on assets at -0.043%, consistent with recent net losses (net income -$267,000), while operating margin sits near 0.155% and operating leverage indicates potential for margin expansion if revenue growth accelerates.
Valuation context: WMDST values the stock as under-valued. Market multiples sit mixed — EV/Revenue and enterprise multiple display elevated readings (enterprise multiple 259.30), while P/B at 3.71 sits marginally below the industry peer mean of 3.78 and PS at 13.18 sits below the industry peer mean of 22.20. Forward EPS and forward PE remain negative, reflecting projected losses into the forward window.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-10-29 |
| NEXT REPORT DATE: | 2026-01-28 |
| CASH FLOW | Begin Period Cash Flow | $ 117.8 M |
| Operating Cash Flow | $ 26.7 M | |
| Capital Expenditures | $ -2.60 M | |
| Change In Working Capital | $ 8.9 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 30.1 M | |
| End Period Cash Flow | $ 147.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 134.3 M | |
| Forward Revenue | $ 204.7 M | |
| COSTS | ||
| Cost Of Revenue | $ 32.9 M | |
| Depreciation | $ 3.1 M | |
| Depreciation and Amortization | $ 5.2 M | |
| Research and Development | $ 22.9 M | |
| Total Operating Expenses | $ 134.1 M | |
| PROFITABILITY | ||
| Gross Profit | $ 101.3 M | |
| EBITDA | $ 6.6 M | |
| EBIT | $ 1.4 M | |
| Operating Income | $ 208.0 K | |
| Interest Income | $ 1.2 M | |
| Interest Expense | $ 1.5 M | |
| Net Interest Income | $ -303.00 K | |
| Income Before Tax | $ -86.00 K | |
| Tax Provision | $ 181.0 K | |
| Tax Rate | 21.0 % | |
| Net Income | $ -267.00 K | |
| Net Income From Continuing Operations | $ -267.00 K | |
| EARNINGS | ||
| EPS Estimate | $ -0.12 | |
| EPS Actual | $ -0.01 | |
| EPS Difference | $ 0.11 | |
| EPS Surprise | 91.667 % | |
| Forward EPS | $ -0.03 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 635.4 M | |
| Intangible Assets | $ 284.9 M | |
| Net Tangible Assets | $ 191.6 M | |
| Total Current Assets | $ 301.1 M | |
| Cash and Short-Term Investments | $ 147.9 M | |
| Cash | $ 147.9 M | |
| Net Receivables | $ 63.0 M | |
| Inventory | $ 79.0 M | |
| Long-Term Investments | $ 3.1 M | |
| LIABILITIES | ||
| Accounts Payable | $ 25.5 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 77.8 M | |
| Net Debt | — | |
| Total Debt | $ 76.7 M | |
| Total Liabilities | $ 158.9 M | |
| EQUITY | ||
| Total Equity | $ 476.5 M | |
| Retained Earnings | $ -414.96 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 9.59 | |
| Shares Outstanding | 49.713 M | |
| Revenue Per-Share | $ 2.70 | |
| VALUATION | Market Capitalization | $ 1.8 B |
| Enterprise Value | $ 1.7 B | |
| Enterprise Multiple | 259.301 | |
| Enterprise Multiple QoQ | -88.614 % | |
| Enterprise Multiple YoY | -120.538 % | |
| Enterprise Multiple IPRWA | ATRC: 259.301 high: 185.353 mean: 65.026 median: 60.952 low: -109.976 |
|
| EV/R | 12.651 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.334 | |
| Asset To Liability | 3.998 | |
| Debt To Capital | 0.139 | |
| Debt To Assets | 0.121 | |
| Debt To Assets QoQ | -4.831 % | |
| Debt To Assets YoY | 1267.497 % | |
| Debt To Assets IPRWA | high: 1.311 mean: 0.271 median: 0.267 ATRC: 0.121 low: 0.002 |
|
| Debt To Equity | 0.161 | |
| Debt To Equity QoQ | -3.175 % | |
| Debt To Equity YoY | 1278.682 % | |
| Debt To Equity IPRWA | high: 1.942 mean: 0.385 median: 0.307 ATRC: 0.161 low: -1.277 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.714 | |
| Price To Book QoQ | 1.034 % | |
| Price To Book YoY | 32.18 % | |
| Price To Book IPRWA | high: 15.33 mean: 3.78 ATRC: 3.714 median: 2.405 low: -5.671 |
|
| Price To Earnings (P/E) | -3560.061 | |
| Price To Earnings QoQ | 121.79 % | |
| Price To Earnings YoY | 2157.859 % | |
| Price To Earnings IPRWA | high: 259.394 mean: 85.51 median: 70.629 low: -207.228 ATRC: -3560.061 |
|
| PE/G Ratio | 71.201 | |
| Price To Sales (P/S) | 13.181 | |
| Price To Sales QoQ | 5.091 % | |
| Price To Sales YoY | 16.925 % | |
| Price To Sales IPRWA | high: 156.539 mean: 22.204 median: 14.574 ATRC: 13.181 low: 0.307 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | -222.276 | |
| Forward PE/G | 4.446 | |
| Forward P/S | 1.798 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 95.467 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.216 | |
| Asset Turnover Ratio QoQ | -4.845 % | |
| Asset Turnover Ratio YoY | 12.865 % | |
| Asset Turnover Ratio IPRWA | high: 0.52 ATRC: 0.216 mean: 0.168 median: 0.14 low: 0.0 |
|
| Receivables Turnover | 2.082 | |
| Receivables Turnover Ratio QoQ | -1.111 % | |
| Receivables Turnover Ratio YoY | -0.782 % | |
| Receivables Turnover Ratio IPRWA | high: 3.929 ATRC: 2.082 mean: 1.492 median: 1.343 low: 0.148 |
|
| Inventory Turnover | 0.424 | |
| Inventory Turnover Ratio QoQ | -7.435 % | |
| Inventory Turnover Ratio YoY | 9.409 % | |
| Inventory Turnover Ratio IPRWA | high: 2.783 mean: 0.736 median: 0.55 ATRC: 0.424 low: 0.001 |
|
| Days Sales Outstanding (DSO) | 43.829 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 180.933 | |
| Cash Conversion Cycle Days QoQ | -5.344 % | |
| Cash Conversion Cycle Days YoY | -2.632 % | |
| Cash Conversion Cycle Days IPRWA | high: 704.554 ATRC: 180.933 median: 160.142 mean: 147.471 low: -371.003 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.601 | |
| CapEx To Revenue | -0.019 | |
| CapEx To Depreciation | -0.852 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 538.4 M | |
| Net Invested Capital | $ 538.4 M | |
| Invested Capital | $ 538.4 M | |
| Net Tangible Assets | $ 191.6 M | |
| Net Working Capital | $ 223.3 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.9 | |
| Current Ratio | 3.868 | |
| Current Ratio QoQ | -1.825 % | |
| Current Ratio YoY | 6.921 % | |
| Current Ratio IPRWA | high: 13.125 ATRC: 3.868 mean: 2.576 median: 2.014 low: 0.117 |
|
| Quick Ratio | 2.854 | |
| Quick Ratio QoQ | 0.805 % | |
| Quick Ratio YoY | 10.216 % | |
| Quick Ratio IPRWA | high: 7.703 ATRC: 2.854 mean: 1.947 median: 1.504 low: 0.377 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 11.713 | |
| Cost Of Debt | 1.506 % | |
| Interest Coverage Ratio | 0.941 | |
| Interest Coverage Ratio QoQ | -131.6 % | |
| Interest Coverage Ratio YoY | -126.762 % | |
| Interest Coverage Ratio IPRWA | high: 340.0 mean: 34.438 median: 8.398 ATRC: 0.941 low: -547.125 |
|
| Operating Cash Flow Ratio | 0.066 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 67.338 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 4.368 % | |
| Revenue Growth | -1.374 % | |
| Revenue Growth QoQ | -113.568 % | |
| Revenue Growth YoY | 344.66 % | |
| Revenue Growth IPRWA | high: 54.24 % mean: 2.581 % median: 0.689 % ATRC: -1.374 % low: -45.858 % |
|
| Earnings Growth | -50.0 % | |
| Earnings Growth QoQ | -41.666 % | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | high: 180.0 % mean: 19.256 % median: 10.505 % ATRC: -50.0 % low: -100.918 % |
|
| MARGINS | ||
| Gross Margin | 75.469 % | |
| Gross Margin QoQ | 1.242 % | |
| Gross Margin YoY | 0.787 % | |
| Gross Margin IPRWA | high: 94.309 % ATRC: 75.469 % median: 61.458 % mean: 58.111 % low: -37.943 % |
|
| EBIT Margin | 1.029 % | |
| EBIT Margin QoQ | -131.555 % | |
| EBIT Margin YoY | -120.34 % | |
| EBIT Margin IPRWA | high: 34.657 % median: 16.789 % mean: 11.171 % ATRC: 1.029 % low: -1203.008 % |
|
| Return On Sales (ROS) | 0.155 % | |
| Return On Sales QoQ | -103.408 % | |
| Return On Sales YoY | -103.064 % | |
| Return On Sales IPRWA | high: 34.618 % median: 17.526 % mean: 11.093 % ATRC: 0.155 % low: -1203.008 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 24.1 M | |
| Free Cash Flow Yield | 1.362 % | |
| Free Cash Flow Yield QoQ | 66.707 % | |
| Free Cash Flow Yield YoY | 8.526 % | |
| Free Cash Flow Yield IPRWA | high: 9.514 % ATRC: 1.362 % mean: 0.763 % median: 0.561 % low: -49.522 % |
|
| Free Cash Growth | 72.777 % | |
| Free Cash Growth QoQ | -135.386 % | |
| Free Cash Growth YoY | -68.106 % | |
| Free Cash Growth IPRWA | high: 195.075 % ATRC: 72.777 % mean: -22.818 % median: -41.083 % low: -191.429 % |
|
| Free Cash To Net Income | -90.303 | |
| Cash Flow Margin | 3.808 % | |
| Cash Flow To Earnings | -19.15 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -0.043 % | |
| Return On Assets QoQ | -95.829 % | |
| Return On Assets YoY | -96.682 % | |
| Return On Assets IPRWA | high: 7.459 % mean: 1.152 % median: 1.107 % ATRC: -0.043 % low: -70.984 % |
|
| Return On Capital Employed (ROCE) | 0.248 % | |
| Return On Equity (ROE) | -0.001 | |
| Return On Equity QoQ | -95.799 % | |
| Return On Equity YoY | -96.684 % | |
| Return On Equity IPRWA | high: 0.969 median: 0.019 ATRC: -0.001 mean: -0.046 low: -1.516 |
|
| DuPont ROE | -0.057 % | |
| Return On Invested Capital (ROIC) | 0.203 % | |
| Return On Invested Capital QoQ | -130.48 % | |
| Return On Invested Capital YoY | -94.527 % | |
| Return On Invested Capital IPRWA | high: 18.508 % mean: 2.81 % median: 1.442 % ATRC: 0.203 % low: -26.281 % |
|