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AtriCure cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$23.9M in Q3 2026 · $52.9M over twelve months

Operating cash flow$30.3M
Capital spending−$6.4M
Free cash flow+$23.9M
Cash / net income7.5×
Cash conversion cycle184 days

Analysis

In Q3 2026, AtriCure generated $30.3M of operating cash flow and spent $6.4M on capital projects, leaving free cash flow of $23.9M. That is $177K less than in Q3 2025 ($24.1M).

Over the twelve months to Sep 30, 2026, operating cash flow was $68.5M; the largest uses were capital spending ($15.6M), taxes on employees’ shares ($12.5M), other investing ($5.5M); besides operations, cash came from other financing ($8.0M); the cash balance rose by $39.2M.

Operating cash flow was $30.3M against net income of $4.1M — 7.5× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$12.5M, accrued liabilities +$7.0M, depreciation & amortization +$5.5M.

Its cash conversion cycle was 184 days (receivables 46 + inventory 224 − payables 87).

Free cash flow

AtriCure: free cash flow by quarterAtriCure: free cash flow by quarter$3.1MQ4 2024−$13.2MQ1 2025$19.0MQ2 2025$24.1MQ3 2025$18.4MQ4 2025−$7.8MQ1 2026$18.4MQ2 2026$23.9MQ3 2026
Operating cash flow less capital spending.
AtriCure: operating cash flow against capital spendingAtriCure: operating cash flow against capital spendingOperating cash flowCapital spending$5.8M$2.7MQ4 2024−$11.0M$2.2MQ1 2025$21.6M$2.7MQ2 2025$26.7M$2.6MQ3 2025$20.0M$1.6MQ4 2025−$4.0M$3.9MQ1 2026$22.2M$3.8MQ2 2026$30.3M$6.4MQ3 2026
Latest (Q3 2026): Operating cash flow $30.3M, Capital spending $6.4M.

Capital allocation, year by year

AtriCure: where the cash came from (up) and went (down), by fiscal yearAtriCure: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow −$13.8MFY2021: Net borrowing −$1.6MFY2021: Shares issued $8.2MFY2021: Capital spending −$9.8M$8.2MFY2021FY2022: Operating cash flow −$22.1MFY2022: Net borrowing −$1.8MFY2022: Shares issued $1.8MFY2022: Capital spending −$16.9M$1.8MFY2022FY2023: Operating cash flow $4.5MFY2023: Net borrowing −$2.0MFY2023: Shares issued $2.3MFY2023: Capital spending −$12.0M$6.8MFY2023FY2024: Operating cash flow $12.2MFY2024: Net borrowing −$2.7MFY2024: Shares issued $1.0MFY2024: Asset sales $25KFY2024: Capital spending −$11.5M$13.3MFY2024FY2025: Operating cash flow $57.3MFY2025: Net borrowing −$2.4MFY2025: Shares issued $1.4MFY2025: Capital spending −$9.1M$58.7MFY2025
Over these 5 years operating cash flow totalled $38.1M; the largest uses were capital spending ($59.1M) and operating cash flow ($35.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$187M
Debt$61.0M
Net cash$126M

AtriCure funds itself: free cash flow was $52.9M over the last twelve months, and $187M of cash and investments stands against $61.0M of debt.

Where the cash came from and went

AtriCure: sources (+) and uses (−) of cash, Q3 2026AtriCure: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$30.3MCash drawn (+) / kept (−)−$19.2MCapital spending−$6.4MOther investing−$4.5MTaxes on employees’ shares−$543KOther financing$517KExchange rates−$163K
AtriCure: sources (+) and uses (−) of cash, TTM to Q3 2026AtriCure: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$68.5MCash drawn (+) / kept (−)−$39.2MCapital spending−$15.6MTaxes on employees’ shares−$12.5MOther financing$8.0MOther investing−$5.5MNet borrowing (+) / repaid (−)−$3.4MExchange rates−$350K

From profit to cash

AtriCure: net income to operating cash flow, Q3 2026AtriCure: net income to operating cash flow, Q3 2026Net income$4.1MDepreciation & amortization$5.5MStock-based pay$12.5MReceivables$3.8MInventory−$3.4MPayables−$3.1MAccrued liabilities$7.0MPrepaid and other assets$903KOperating cash flow$30.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20264622487184
Q2 20264521586173
Q1 20264422579190
Q4 20254220666182
Q3 20254421771190
Q2 20254319967175
Q1 20254521873190
Q4 20244322182181

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$30.3M−$6.4M—−$19.2M$23.9M
Q2 2026$22.2M−$3.8M−$656K−$21.6M$18.4M
Q1 2026−$4.0M−$3.9M−$1.5M$21.3M−$7.8M
Q4 2025$20.0M−$1.6M−$631K−$19.6M$18.4M
Q3 2025$26.7M−$2.6M−$598K−$30.1M$24.1M
Q2 2025$21.6M−$2.7M−$584K−$17.9M$19.0M
Q1 2025−$11.0M−$2.2M−$574K$22.8M−$13.2M
Q4 2024$5.8M−$2.7M−$563K$7.6M$3.1M

AtriCure: income statement and cash flow

AtriCure, Q3 2026: revenue $154M (+15% year over year), operating margin 2.8%. The chart follows the revenue to costs, profit and cash.

AtriCure: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.