AtriCure, Inc. (ATRC) Monday announced that it expects higher revenue for the fourth quarter and fiscal year 2023 primarily due to growth in Hybrid AF therapy, and increased sales of AtriClip, Encompass and cryoSPHERE devices. The anticipated revenue for both periods stands better than analysts' estimates. Also, it announced outlook for full year 2024.
The expected revenue for fourth quarter stood at $106.5 million, up 21% than last year, while analysts polled by Thomson-Reuters expect it to be $102.43 million.
For full year 2023, the company anticipates revenue of $399.2 million, up 21% than previous year. However, analysts estimate it to stand at $395.16 million.
Earlier, the company had announced the adjusted EBITDA of around $18 million to $20 million and adjusted loss per share of $0.74 to $0.76 for full year 2023, whereas the analysts estimate loss per share of $0.74 for the same period.
Further, the company said that it sees revenue between $459 million and $466 million for fiscal year 2024, which is higher than the analysts' view of $454.68 million for the same period.
The company also sees adjusted EBITDA of around $26 million to $29 million for full year 2024.
Currently, AtriCure's stock is climbing 1.91 percent, to $33.66 on the Nasdaq.
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