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AtriCure (ATRC) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · AtriCure (ATRC) Q3 2026 earnings results →
Q3 2026 Revenue up 15% year over year to $154M · 3¢ of every $1 of revenue kept as net profit · operating margin 2.8%
AtriCure made $154M in Q3 2026 (+15% Y/Y). Operating margin 2.8%, net earnings $4.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $154.4M in Q3 2026, up 15% year over year and up 1% from the previous quarter.
Gross margin was 77.3%, up 1.8 points from Q3 2025. Operating profit was $4.4M, a 2.8% margin (up 2.7 points year over year). Of the extra revenue versus Q3 2025, 21% reached operating profit, above the 0% margin then. Operating expenses grew 14% against revenue growth of 15%. The fastest-growing cost line was Research & development (+40%). Net earnings were $4.1M. The effective tax rate was -1.2%.
Operating cash flow was $30.3M (up 13% year over year), 746% of net earnings. Non-cash charges added back $5.5M of depreciation and amortization and $12.5M of share-based compensation. Working capital and other items added $8.3M. Capital expenditures of $6.4M left free cash flow of $23.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $154M | +15% | 2.8% | $4.1M | $30.3M |
| Q2 2026 | 10-Q | Jul 27, 2026 | $154M | +13% | 6.3% | $9.0M | $22.2M |
| Q1 2026 | 10-Q | May 6, 2026 | $141M | +14% | 0.4% | $108K | −$4.0M |
| Q4 2025 | 10-K | Feb 19, 2026 | $140M | +13% | 1.8% | $1.8M | $20.0M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $134M | +16% | 0.2% | −$267K | $26.7M |
| Q2 2025 | 10-Q | Jul 30, 2025 | $136M | +17% | -4.5% | −$6.2M | $21.6M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $124M | +14% | -4.8% | −$6.7M | −$11.0M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About AtriCure
We are a leading innovator in surgical treatments and therapies for atrial fibrillation (Afib or AF), left atrial appendage (LAA) management and post-operative pain management. Afib is an irregular heartbeat, or arrhythmia, which affects over 59 million people worldwide and is a growing epidemic. It is the most common cardiac arrhythmia encountered in clinical practice and results in high utilization of healthcare services and significant cost burden. Patients often progress from being in Afib intermittently (paroxysmal) to being in Afib continuously (non-paroxysmal). The continuous Afib patient population includes early persistent Afib, which lasts seven days to six months, persistent Afib, which lasts six months to one year, and long-standing persistent Afib, which lasts longer than one year.
In its own words, from its 10-K, filed Feb 19, 2026.
AtriCure against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +15% against the peers' median +5%. Operating margin: 2.8% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ATRC AtriCure | Q3 2026 | $154M | +15% | 2.8% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: AtriCure 10-Q on SEC EDGAR · CIK 1323885 · Surgical & Medical Instruments & Apparatus
Guidance and outlook
13F: who owns ATRC and who is buying
More on ATRC
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results