Abstract

AtriCure will release its fourth-quarter results on February 17, 2026 Post Market, and this preview summarizes the latest company indications and market expectations for revenue, margins, profitability, and EPS, plus what the Street is watching in the upcoming print.

Market Forecast

Based on the latest company-level forecast aggregator for the current quarter, AtriCure’s revenue is estimated at $139.55 million, implying a year-over-year increase of 14.54%, with EBIT estimated at -$4.63 million and EPS at -$0.09; the forecast also embeds year-over-year improvement in profitability metrics. While margin guidance ranges were not provided, the last reported gross profit margin of 75.47% and a net profit margin of -0.20% frame expectations; consensus expects modest year-over-year improvement from mix and operating leverage, and adjusted EPS is forecast to narrow losses year over year. The company’s main business is expected to continue steady double-digit growth, underpinned by surgical ablation, clip systems, international expansion, and pain management; the most promising segment remains the atrial appendage clip system, a scale business with significant procedure adoption and recurring use in cardiac surgery.

Last Quarter Review

In the last reported quarter, AtriCure delivered revenue of $134.27 million, a gross profit margin of 75.47%, GAAP net profit attributable to the parent of -$0.27 million, a net profit margin of -0.20%, and adjusted EPS of -$0.01, with revenue up 15.84% year over year and EPS improving materially from the prior year. A key highlight was positive operating income versus expectations for an operating loss, reflecting expense discipline and throughput gains in the commercial organization. By business line, revenue mix was led by atrial appendage clip systems at $45.45 million, open-heart surgical ablation at $35.59 million, international revenue at $24.96 million, pain management at $20.84 million, and minimally invasive ablation at $7.43 million, with growth driven by procedure volume and broader adoption in the U.S. and OUS markets.

Current Quarter Outlook (with major analytical insights)

Main business momentum heading into year-end

AtriCure’s core franchises entering the fourth quarter show healthy procedural and utilization trends. The current-quarter revenue estimate of $139.55 million, up 14.54% year over year, points to continued momentum across its open-heart surgical ablation portfolio and appendage management products. Given the prior quarter’s outperformance versus revenue expectations, the company appears to be benefiting from stable hospital capital and staffing environments, which support elective cardiac procedures and training-driven utilization. The gross profit margin baseline of 75.47% suggests pricing and product mix remain favorable, and this should carry into the quarter, with mix supported by premium clip systems and integrated ablation solutions. Operating spending may step up seasonally on commercial and development initiatives, but the EBIT estimate of -$4.63 million and EPS of -$0.09 indicate the market still expects operating leverage to improve year over year, albeit with a modest quarterly loss as the company invests for growth.

Most promising franchise and growth vectors

The atrial appendage clip system stands out as the largest and most durable growth driver by scale, with last quarter revenue of $45.45 million. This franchise benefits from expanding guideline support for left atrial appendage management during cardiac surgery and a growing surgeon base trained on these devices, which together provide a pathway for consistent double-digit procedure growth. International adoption continues to broaden the addressable market, contributing incremental volumes while diversifying revenue. Alongside clips, surgical ablation platforms maintain robust demand tied to concomitant procedures, and newer minimally invasive ablation offerings create an option set for different patient presentations. The combination of these vectors supports the 14.54% year-over-year revenue growth estimate this quarter and provides a line of sight to mix-led gross margin support versus the prior year.

Stock-price drivers for this quarter

The market’s focus for the print centers on top-line durability, margin trajectory, and visibility into profitability inflection. On revenue, investors will key on whether the company can exceed the $139.55 million estimate, as upside would reinforce the view that procedure growth remains intact across geographies and settings. For margins, the comparison to the 75.47% gross profit margin baseline will be critical; any uptick driven by product mix or manufacturing efficiency could outweigh seasonal operating expense increases and help narrow EBIT and EPS losses. Finally, commentary around demand trends in international markets and the cadence of new product adoption, especially for minimally invasive ablation, may shape the outlook for 2026 operating leverage, which is a major valuation input.

Analyst Opinions

The prevailing stance among recent Street previews tilts constructive, with a majority expecting sustained double-digit revenue growth, margin stability around the mid-70s, and gradual narrowing of adjusted losses as operating leverage improves. Several noted analysts highlight the upside risk from consistent clip utilization and steady international momentum, which together could push revenue slightly above the $139.55 million estimate and keep gross margins resilient. The dominant view argues that execution on core cardiovascular franchises and stable procedure environments are sufficient to support another solid quarter despite a projected modest loss on the quarter; this view emphasizes that prior-quarter operating income outperformance versus expectations supports confidence into the print.