2023 Q2 Form 10-Q Financial Statement

#000132388523000047 Filed on May 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $100.9M $93.49M
YoY Change 19.39% 25.37%
Cost Of Revenue $23.84M $23.89M
YoY Change 13.47% 25.84%
Gross Profit $77.08M $69.61M
YoY Change 21.34% 25.21%
Gross Profit Margin 76.38% 74.45%
Selling, General & Admin $63.05M $60.06M
YoY Change 1.05% 7.04%
% of Gross Profit 81.79% 86.29%
Research & Development $17.44M $15.33M
YoY Change 17.9% 12.46%
% of Gross Profit 22.62% 22.02%
Depreciation & Amortization $3.580M $2.205M
YoY Change 21.89% 16.36%
% of Gross Profit 4.64% 3.17%
Operating Expenses $81.22M $75.39M
YoY Change 5.24% 8.1%
Operating Profit -$4.144M -$5.782M
YoY Change -69.66% -59.14%
Interest Expense -$758.0K $1.636M
YoY Change -168.85% 63.6%
% of Operating Profit
Other Income/Expense, Net -$123.0K $145.0K
YoY Change 10.81% -255.91%
Pretax Income -$5.025M -$6.398M
YoY Change -66.04% -57.7%
Income Tax $93.00K $78.00K
% Of Pretax Income
Net Earnings -$5.118M -$6.476M
YoY Change -65.51% -57.35%
Net Earnings / Revenue -5.07% -6.93%
Basic Earnings Per Share -$0.11 -$0.14
Diluted Earnings Per Share -$0.11 -$0.14
COMMON SHARES
Basic Shares Outstanding 47.24M shares 46.57M shares
Diluted Shares Outstanding 46.27M shares 46.11M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $127.0M $135.9M
YoY Change 7.24% 21.96%
Cash & Equivalents $67.24M $77.34M
Short-Term Investments $59.79M $58.52M
Other Short-Term Assets $7.179M $7.956M
YoY Change 45.56% 21.1%
Inventory $55.41M $48.85M
Prepaid Expenses
Receivables $48.36M $45.66M
Other Receivables $0.00 $0.00
Total Short-Term Assets $238.0M $238.3M
YoY Change 15.43% 19.4%
LONG-TERM ASSETS
Property, Plant & Equipment $44.89M $44.21M
YoY Change 24.52% 34.52%
Goodwill $234.8M $234.8M
YoY Change 0.0% 0.0%
Intangibles $67.38M $38.60M
YoY Change 64.15% -8.14%
Long-Term Investments $7.598M $25.56M
YoY Change -88.18% -63.75%
Other Assets $1.541M $1.620M
YoY Change 91.67% 136.5%
Total Long-Term Assets $356.2M $344.8M
YoY Change -6.56% -10.54%
TOTAL ASSETS
Total Short-Term Assets $238.0M $238.3M
Total Long-Term Assets $356.2M $344.8M
Total Assets $594.2M $583.1M
YoY Change 1.15% -0.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.71M $23.56M
YoY Change -0.05% 16.1%
Accrued Expenses $33.33M $28.23M
YoY Change 8.29% 11.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.042M $1.016M
YoY Change 11.32% 11.04%
Total Short-Term Liabilities $71.41M $62.47M
YoY Change 26.8% 31.86%
LONG-TERM LIABILITIES
Long-Term Debt $55.66M $51.94M
YoY Change -7.16% -13.21%
Other Long-Term Liabilities $4.678M $1.236M
YoY Change 285.02% 0.9%
Total Long-Term Liabilities $60.34M $53.18M
YoY Change -1.36% -12.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $71.41M $62.47M
Total Long-Term Liabilities $60.34M $53.18M
Total Liabilities $131.7M $128.3M
YoY Change 0.82% 4.99%
SHAREHOLDERS EQUITY
Retained Earnings -$338.2M -$333.1M
YoY Change 9.04% 12.79%
Common Stock $803.2M $791.0M
YoY Change 4.15% 3.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $462.4M $454.8M
YoY Change
Total Liabilities & Shareholders Equity $594.2M $583.1M
YoY Change 1.15% -0.32%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$5.118M -$6.476M
YoY Change -65.51% -57.35%
Depreciation, Depletion And Amortization $3.580M $2.205M
YoY Change 21.89% 16.36%
Cash From Operating Activities $3.011M -$4.079M
YoY Change -28.8% -83.44%
INVESTING ACTIVITIES
Capital Expenditures $33.08M $2.502M
YoY Change -890.63% -26.0%
Acquisitions
YoY Change
Other Investing Activities $17.00M $31.32M
YoY Change -31.19% 35.55%
Cash From Investing Activities -$16.08M $28.81M
YoY Change -178.36% 46.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.994M -$5.517M
YoY Change 60.88% -47.44%
NET CHANGE
Cash From Operating Activities 3.011M -$4.079M
Cash From Investing Activities -16.08M $28.81M
Cash From Financing Activities 2.994M -$5.517M
Net Change In Cash -10.07M $19.24M
YoY Change -137.86% -224.04%
FREE CASH FLOW
Cash From Operating Activities $3.011M -$4.079M
Capital Expenditures $33.08M $2.502M
Free Cash Flow -$30.07M -$6.581M
YoY Change -457.41% -76.51%

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EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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28141000 usd
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Nature of the Business</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—The “Company” or “AtriCure” consists of AtriCure, Inc. and its wholly-owned subsidiaries. The Company is a leading innovator in surgical treatments and therapies for atrial fibrillation (Afib), left atrial appendage (LAA) management and post-operative pain management, and sells its products to medical centers globally through its direct sales force and distributors.</span>
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5053000 usd
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4242000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
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14620000 usd
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CY2022Q4 us-gaap Finance Lease Liability Noncurrent
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CY2023Q1 us-gaap Finance Lease Liability
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1270000 usd
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1169000 usd
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