AtriCure, Inc. (NASDAQ:ATRC) Q2 2022 Earnings Conference Call August 2, 2022 4:30 PM ET

Company Participants

Marissa Bych - Investor Relations

Mike Carrel - President and Chief Executive Officer

Angie Wirick - Chief Financial Officer

Conference Call Participants

Robbie Marcus - JPMorgan

John McAulay - Stifel

Marie Thibault - BTIG

William Plovanic - Canaccord

David Saxon - Needham

Suraj Kalia - Oppenheimer

Matthew O’Brien - PSC

Operator

Good afternoon and welcome to the AtriCure Second Quarter 2022 Earnings Conference Call. My name is Michelle and I will be your coordinator for today’s call. [Operator Instructions] As a reminder, this call is being recorded for replay purposes. I would now like to turn the call over to Marissa Bych from the Gilmartin Group for her introductory remarks. Please go ahead.

Marissa Bych

Thank you. By now, you should have received a copy of the earnings press release. If you have not received a copy, please call 513-755-4136 to have one e-mailed to you.

Before we begin, let me remind you that the company’s remarks include forward-looking statements. Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond AtriCure’s control, including risks and uncertainties described from time to time in AtriCure’s SEC filings. These statements include, but are not limited to, financial expectations and guidance, expectations regarding the potential market opportunity for AtriCure’s franchises and growth initiatives, including the adoption of the hybrid AF procedure and future product approvals, clearances and reimbursement. AtriCure’s results may differ materially from those projected. AtriCure undertakes no obligation to publicly update any forward-looking statements.

Additionally, we refer to non-GAAP financial measures, specifically revenue reported on a constant currency basis, adjusted EBITDA and adjusted loss per share. A reconciliation of these non-GAAP financial measures with the most directly comparable GAAP measures is included in our press release, which is available on our website.

With that, I would like to turn the call over to Mike Carrel, President and Chief Executive Officer. Mike?

Mike Carrel

Good afternoon and thank you for joining us today. We hope everybody is doing great. I am pleased to report another exceptional quarter for AtriCure as we continue changing the standard of care for patients with our innovative therapies. In the second quarter of 2022, we generated $84.5 million in revenue, reflecting growth of 18% over the second quarter of 2021, a remarkable achievement given the strength of the comparable quarter. Our performance was once again driven by increasing adoption across key product lines throughout the business.