8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) of the

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 2, 2022

AtriCure, Inc.

(Exact name of registrant as specified in charter)

Delaware	000-51470	34-1940305
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

7555 Innovation Way, Mason OH 45040

(Address of Principal Executive Offices, and Zip Code)

(513) 755-4100

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: 

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $.001 par value	ATRC	NASDAQ

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02.    Results of Operations and Financial Condition.

On August 2, 2022, AtriCure, Inc. issued a press release regarding its financial results for the second quarter ended June 30, 2022. The Company will hold a conference call on August 2, 2022 at 4:30 p.m. Eastern Time to discuss the financial results. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.

Item 7.01.    Regulation FD Disclosure.

During the week of August 2, 2022 the Company is holding meetings with investors discussing, among other topics, an overview of the Company’s business and growth strategy. A copy of the investor presentation, which is available at www.atricure.com, is furnished as Exhibit 99.2 to this Form 8-K and is incorporated herein by reference.

Information in the presentation contains forward-looking statements regarding future events and performance of the Company. All such forward-looking statements are based largely on the Company’s experience and perception of current conditions, trends, expected future developments and other factors, and on management’s expectations, and are subject to risks and uncertainties that could cause actual results to differ materially, including, but not limited to, those factors described in the presentation and in the Company’s filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any financial or other projections or other forward-looking statements, whether because of new information, future events or otherwise.

The information in Item 2.02 of Form 8-K and in the press release attached as Exhibit 99.1 and the presentation attached as Exhibit 99.2 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in each of Item 2.02 and Item 7.01 of this Form 8-K and Exhibit 99.1and Exhibit 99.2 shall not be incorporated by reference in any filing or other document under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing or document.

Item 9.01.    Financial Statements and Exhibits.

(d)Exhibits

No.	Description
99.1	Press Release dated August 2, 2022 relating to financial results for the second quarter ended June 30, 2022
99.2	Investor Presentation
104	Cover Page Interactive Data File--the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		ATRICURE, INC.
Dated:	August 2, 2022	By:	/s/ Angela L. Wirick
			Angela L. Wirick
			Chief Financial Officer

EX-99.1

Exhibit 99.1

For immediate release

August 2, 2022

AtriCure Reports Second Quarter 2022 Financial Results

MASON, Ohio, August 2, 2022 – AtriCure, Inc. (Nasdaq: ATRC), a leading innovator in surgical treatments and therapies for atrial fibrillation (Afib), left atrial appendage (LAA) management and post-operative pain management, today announced second quarter 2022 financial results.

“We delivered a remarkable second quarter as we continue changing the standard of care for millions of patients globally,” said Michael Carrel, President and Chief Executive Officer of AtriCure. “Our results demonstrate the building strength of our portfolio of solutions, while continued product innovation, clinical science and physician education drive expansive, long-term growth opportunities.”

Second Quarter 2022 Financial Results

Revenue for the second quarter 2022 was $84.5 million, an increase of 18.4% (an increase of 19.8% on a constant currency basis) over second quarter 2021 revenue. U.S. revenue was $71.3 million, an increase of $11.2 million or 18.6%, compared to second quarter 2021. U.S. revenue growth was driven by sales across key product lines, notably the cryoSPHERE® probe for post-operative pain management, AtriClip® Flex·V® and Pro·V® devices, the new ENCOMPASS® clamp and our EPi-Sense® System. International revenue increased $2.0 million or 17.3% (an increase of 26.3% on a constant currency basis) to $13.3 million, driven mainly by appendage management products and reflecting a rebound in procedure volumes in Europe and growth in Australia. On a sequential basis, worldwide revenue for the second quarter 2022 increased approximately 13.3% over first quarter 2022.

Gross profit for the second quarter 2022 was $63.5 million compared to $54.1 million for the second quarter 2021. Gross margin was 75.1% and 75.8% for the second quarters 2022 and 2021 respectively, largely reflecting changes in U.S. product mix and cost increases driven by inflationary and supply chain pressures. Loss from operations for the second quarter 2022 was $13.7 million, compared to $15.1 million for the second quarter 2021. Basic and diluted net loss per share was $0.32 for the second quarter 2022, compared to $0.36 for the second quarter 2021.

Adjusted EBITDA was negative for the second quarter 2022 at $3.2 million, compared to negative $2.7 million for second quarter of 2021. Adjusted loss per share for the second quarter 2022 was $0.32 compared to $0.30 for the second quarter 2021.

Constant currency revenue, adjusted EBITDA and adjusted loss per share are non-GAAP measures. We discuss these non-GAAP measures and provide reconciliations to GAAP measures later in this release.

2022 Financial Guidance

Full year 2022 revenue is projected to be approximately $323 million to $333 million, reflecting growth of approximately 18% to 21% over full year 2021. Management continues to expect full year 2022 adjusted EBITDA to be a loss of approximately $2 million to $4 million, and the full year 2022 adjusted loss per share of approximately $1.07 to $1.12.

Conference Call

AtriCure will host a conference call at 4:30 p.m. Eastern Time on Tuesday, August 2, 2022 to discuss its second quarter 2022 financial results. To access the webcast, please visit the Investors page of AtriCure’s corporate website at https://ir.atricure.com/events-and-presentations/events. Participants are encouraged to register more than 15 minutes before the webcast start time. A replay of the presentation will be available for 90 days following the presentation.

AboutAtriCure

AtriCure, Inc. provides innovative technologies for the treatment of Afib and related conditions. Afib affects more than 33 million people worldwide. Electrophysiologists and cardiothoracic surgeons around the globe use AtriCure technologies for the treatment of Afib and reduction of Afib related complications. AtriCure’s Isolator® Synergy™ Ablation System is the first

medical device to receive FDA approval for the treatment of persistent Afib. AtriCure’s AtriClip® Left Atrial Appendage Exclusion System products are the most widely sold LAA management devices worldwide. AtriCure’s Hybrid AF™ Therapy is a minimally invasive procedure that provides a lasting solution for long-standing persistent Afib patients. AtriCure’s cryoICE cryoSPHERE® probe is cleared for temporary ablation of peripheral nerves to block pain, providing pain relief in cardiac and thoracic procedures. For more information, visit AtriCure.com or follow us on Twitter @AtriCure.

Forward-Looking Statements

This press release contains “forward-looking statements”– that is, statements related to future events that by their nature address matters that are uncertain. This press release also includes forward-looking projected financial information that is based on current estimates and forecasts. Actual results could differ materially. For details on the uncertainties that may cause our actual results to be materially different than those expressed in our forward-looking statements, visit http://www.atricure.com/forward-looking-statements as well as our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q which contain risk factors. Except where otherwise noted, the information contained in this release and the related attachment is as of August 2, 2022. We assume no obligation to update any forward-looking statements contained in this release and the related attachment as a result of new information or future events or developments, except as may be required by law.

Use of Non-GAAP Financial Measures

To supplement AtriCure’s condensed consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, AtriCure provides certain non-GAAP financial measures in this release as supplemental financial metrics.

Revenue reported on a constant currency basis is a non-GAAP measure, calculated by applying previous period foreign currency exchange rates, which are determined by the average daily Euro to Dollar exchange rate, to each of the comparable periods. Management analyzes revenue on a constant currency basis to better measure the comparability of results between periods. Because changes in foreign currency exchange rates have a non-operating impact on revenue, the Company believes that evaluating growth in revenue on a constant currency basis provides an additional and meaningful assessment of revenue to both management and investors.

Adjusted EBITDA is calculated as net income (loss) before other income/expense (including interest), income tax expense, depreciation and amortization expense, share-based compensation expense, acquisition costs, legal settlement costs, impairment of intangible asset and change in fair value of contingent consideration liabilities. Management believes in order to properly understand short-term and long-term financial trends, investors may wish to consider the impact of these excluded items in addition to GAAP measures. The excluded items vary in frequency and/or impact on our continuing results of operations and management believes that the excluded items are typically not reflective of our ongoing core business operations and financial condition. Further, management uses adjusted EBITDA for both strategic and annual operating planning. A reconciliation of adjusted EBITDA reported in this release to the most comparable GAAP measure for the respective periods appears in the table captioned “Reconciliation of Non-GAAP Adjusted Loss (Adjusted EBITDA)” later in this release.

Adjusted income (loss) per share is a non-GAAP measure which calculates the net income (loss) per share before non-cash adjustments in fair value of contingent consideration liabilities, impairment of intangible asset and legal settlement costs. A reconciliation of adjusted income (loss) per share reported in this release to the most comparable GAAP measure for the respective periods appears in the table captioned “Reconciliation of Non-GAAP Adjusted Loss Per Share” later in this release.

The non-GAAP financial measures used by AtriCure may not be the same or calculated in the same manner as those used and calculated by other companies. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for AtriCure’s financial results prepared and reported in accordance with GAAP. We urge investors to review the reconciliation of these non-GAAP financial measures to the comparable GAAP financials measures included in this press release, and not to rely on any single financial measure to evaluate our business.

CONTACTS:

Angie Wirick

AtriCure, Inc.

Chief Financial Officer

(513) 755-5334

awirick@atricure.com

Lynn Lewis or Marissa Bych

Gilmartin Group

Investor Relations

lynn@gilmartinir.com

marrisa@gilmartinir.com

ATRICURE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In Thousands, Except Per Share Amounts)

(Unaudited)

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
United States Revenue:
Open ablation	$	22,070	$	19,503	$	41,044	$	36,942
Minimally invasive ablation	10,154		9,702		18,769		18,087
Pain management	10,210		5,709		18,224		9,607
Total ablation	42,434		34,914		78,037		64,636
Appendage management	28,831		25,156		55,500		45,743
Total United States	71,265		60,070		133,537		110,379
International Revenue:
Open ablation	6,213		5,526		12,705		9,960
Minimally invasive ablation	1,271		1,575		2,804		2,849
Pain management	114		11		254		11
Total ablation	7,598		7,112		15,763		12,820
Appendage management	5,666		4,194		9,805		7,452
Total International	13,264		11,306		25,568		20,272
Total revenue	84,529		71,376		159,105		130,651
Cost of revenue	21,010		17,298		39,991		32,033
Gross profit	63,519		54,078		119,114		98,618
Operating expenses:
Research and development expenses	14,791		12,197		28,420		23,414
Selling, general and administrative expenses	62,388		56,958		118,504		106,166
Total operating expenses	77,179		69,155		146,924		129,580
Loss from operations	(13,660)		(15,077)		(27,810)		(30,962)
Other expense, net	(1,136)		(1,108)		(2,113)		(2,109)
Loss before income tax expense	(14,796)		(16,185)		(29,923)		(33,071)
Income tax expense	45		66		101		97
Net loss	$	(14,841)	$	(16,251)	$	(30,024)	$	(33,168)
Basic and diluted net loss per share	$	(0.32)	$	(0.36)	$	(0.66)	$	(0.74)
Weighted average shares used in computing net loss per share:
Basic and diluted	45,692		45,035		45,610		44,834

ATRICURE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In Thousands)

(Unaudited)

	June 30, 2022		December 31, 2021
Assets
Current assets:
Cash, cash equivalents, and short-term investments	$	118,454	$	119,090
Accounts receivable, net	41,488		33,021
Inventories	41,292		38,964
Prepaid and other current assets	4,932		5,001
Total current assets	206,166		196,076
Long-term investments	64,295		104,338
Property and equipment, net	36,053		31,409
Operating lease right-of-use assets	4,241		4,761
Goodwill and intangible assets, net	275,830		277,773
Other noncurrent assets	804		955
Total assets	$	587,389	$	615,312
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable and accrued liabilities	$	54,496	$	54,689
Other current liabilities and current maturities of leases	1,820		1,756
Total current liabilities	56,316		56,445
Long-term debt	59,954		59,741
Finance lease liabilities	9,603		10,082
Operating lease liabilities	3,591		4,068
Other noncurrent liabilities	1,215		1,220
Total liabilities	130,679		131,556
Stockholders' equity:
Common stock	46		46
Additional paid-in capital	771,185		764,811
Accumulated other comprehensive loss	(4,344)		(948)
Accumulated deficit	(310,177)		(280,153)
Total stockholders' equity	456,710		483,756
Total liabilities and stockholders' equity	$	587,389	$	615,312

ATRICURE, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP RESULTS TO NON-GAAP RESULTS

(In Thousands)

(Unaudited)

Reconciliation of Non-GAAP Adjusted Loss (Adjusted EBITDA)

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net loss, as reported	$	(14,841)	$	(16,251)	$	(30,024)	$	(33,168)
Income tax expense	45		66		101		97
Other expense, net	1,136		1,108		2,113		2,109
Depreciation and amortization expense	2,937		2,658		5,804		4,780
Share-based compensation expense	7,524		7,141		14,573		13,745
Change in fair value of contingent consideration	—		2,600		—		5,100
Non-GAAP adjusted loss (adjusted EBITDA)	$	(3,199)	$	(2,678)	$	(7,433)	$	(7,337)

Reconciliation of Non-GAAP Adjusted Loss Per Share

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net loss, as reported	$	(14,841)	$	(16,251)	$	(30,024)	$	(33,168)
Change in fair value of contingent consideration	—		2,600		—		5,100
Non-GAAP adjusted net loss	$	(14,841)	$	(13,651)	$	(30,024)	$	(28,068)
Basic and diluted adjusted net loss per share	$	(0.32)	$	(0.30)	$	(0.66)	$	(0.63)
Weighted average shares used in computing adjusted net loss per share
Basic and diluted	45,692		45,035		45,610		44,834

EX-99.2

Creating a World Class Afib Platform AUGUST 2022 © 2022 AtriCure, Inc. All rights reserved. INVESTOR PRESENTATION Exhibit 99.2

Forward Looking Statements This presentation and oral statements made in connection with this presentation contain “forward-looking statements,” which are statements related to future events that by their nature address matters that are uncertain. Forward-looking statements address, among other things, AtriCure’s expected market opportunity, future business, financial performance, financial condition, and results of operations, and often contain words such as “intends,” “estimates,” “anticipates,” “hopes,” “projects,” “plans,” “expects,” “drives,” “seek,” “believes,” "see," “should,” “will,” “would,” “can,” “opportunity,” “target,” and similar expressions and the negative versions thereof. Such statements are based only upon current expectations of AtriCure. All forward-looking information is inherently uncertain and actual results may differ materially from assumptions, estimates, projections or expectations reflected or contained in the forward-looking statements as a result of various risk factors. Reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. These risks, uncertainties and other factors include, but are not limited to, those identified at http://www.atricure.com/forward-looking-statements and/or described in AtriCure’s Annual Reports on Form 10-K and Quarterly Reports on Form 10- Q, particularly the “Risk Factors” sections thereof, as filed with the U.S. Securities and Exchange Commission and available at http://www.sec.gov. With respect to all forward-looking statements, AtriCure claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date they are made. AtriCure undertakes no obligation, and does not expect, to publicly update or revise any forward-looking statements to reflect new information or future events or otherwise unless required by law. © 2022 AtriCure, Inc. All rights reserved. 2

Non-GAAP Financial Measures To supplement AtriCure’s condensed consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, AtriCure provides certain non-GAAP financial measures as supplemental financial metrics in this presentation. Adjusted EBITDA is calculated as net income (loss) before other income/expense (including interest), income tax expense, depreciation and amortization expense, share-based compensation expense, acquisition costs, legal settlement costs, impairment of intangible asset and change in fair value of contingent consideration liabilities. Management believes in order to properly understand short-term and long-term financial trends, investors may wish to consider the impact of these excluded items in addition to GAAP measures. The excluded items vary in frequency and/or impact on our continuing results of operations and management believes that the excluded items are typically not reflective of our ongoing core business operations and financial condition. Further, management uses adjusted EBITDA for both strategic and annual operating planning. Adjusted income (loss) per share is a non-GAAP measure which calculates the net income (loss) per share before non-cash adjustments in fair value of contingent consideration liabilities, impairment of intangible asset and legal settlement costs. The non-GAAP financial measures used by AtriCure may not be the same or calculated in the same manner as those used and calculated by other companies. Non- GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for AtriCure’s financial results prepared and reported in accordance with GAAP. We urge investors to review the reconciliation of these non-GAAP financial measures to the comparable GAAP financials measures, and not to rely on any single financial measure to evaluate our business. © 2022 AtriCure, Inc. All rights reserved. 3

Large Markets Addressing an underserved and growing patient population Strong Portfolio Existing products and solutions driving consistent growth Bright Future Novel therapies supported by growing body of clinical evidence We are passionately focused on reducing the global Afib epidemic and healing the lives of those affected © 2022 AtriCure, Inc. All rights reserved. 4

Afib: A Serious Problem © 2022 AtriCure, Inc. All rights reserved. 5 5x Higher Risk of Stroke4 >5x Higher Risk of Heart Failure6 46% Greater Risk of Mortality5 Atrial Fibrillation (Afib) is an irregular heartbeat (or arrhythmia) that affects more than 33 million people worldwide.1 ~1.2M Afib diagnoses annually in the US2 1/4 Adults over 40 will develop Afib in their lifetime3

Significant Global Market Opportunity © 2022 AtriCure, Inc. All rights reserved. • Penetration of large markets first • Expand product availability • Improve market access via reimbursement • Continued build of dedicated sales and training expertise • Continued build of dedicated sales and training expertise • Clinical data supporting multiple label expansions • New product development • Enhanced reimbursement $3B+ ANNUAL OPPORTUNITY $2B+ ANNUAL OPPORTUNITY 6 US Market International Market Market opportunity based on internal estimates and research, as well as from publicly available information. See Supplemental Information for additional detail.

Standalone Hybrid Procedures (Ablation/LAAM) No Structural Issue Afib is primary concern Two Distinct Patient Profiles © 2022 AtriCure, Inc. All rights reserved. Intervention is better choice Medicine is effective PAROXYSMAL (occasional) LONG-STANDING PERSISTENTPERSISTENT Referring Physician: GP, Cardiologist 7 Catheter often first line of treatmentGuidelines7 Surgical Ablation is RECOMMENDED LAA management is REASONABLE Concomitant Open Procedures (Ablation/LAAM) Structural Heart Issue Surgery required (Valve, CABG) – Afib corrected at same time

$350M Pain Management Procedures (Ablation) $700-800M Concomitant Open Procedures (Ablation/LAAM) US Market Opportunity © 2022 AtriCure, Inc. All rights reserved. Steady Growth in Penetration of Cardiac Surgery Market • ~300k total patients (Afib, non-Afib) with structural heart issue • Only PMA product for concomitant surgical treatment of Afib Novel, High Growth Market ~140k thoracic patients Expansive Growth from Development of Standalone Afib Market • Addressable market is more than 3 million patients • Multiple approaches to treatment: Hybrid AF Therapy + AtriClip®, DEEP Market opportunity based on internal estimates and research, as well as from publicly available information. See Supplemental Information for additional detail. $2B+ and Growing Standalone Hybrid Procedures (Ablation/LAAM) 8

• Maze IV Training Program initiated; Advanced Ablation Courses endorsed by the Society of Thoracic Surgeons (STS) • Continued innovation in AtriClip platform • Guidelines recommend Afib ablation treatment and state management of LAA reasonable • Expansion of AtriClip labeling with electrical isolation of LAA • Three acquisitions, moving into EP space with minimally invasive therapies • Release of cryoSPHERE® probe and dedicated commercial team EPi-Sense® System approved by FDA for treatment of long-standing persistent Afib Expanded labeling for Cryo Nerve Block Therapy in adolescents 510k clearance of EnCompass® clamp AtriCure: A Decade of Progress © 2022 AtriCure, Inc. All rights reserved. Isolator Synergy Ablation System approved by FDA for treatment of persistent or long-standing persistent Afib concomitant to open heart procedures… the first medical device to receive FDA approval for the treatment of persistent Afib 2011 2021Impacting more than 300,000 patients worldwide. 9 Differentiated portfolio of solutions built from continuous innovation and strong clinical evidence, supported by robust training and education.

Standalone Hybrid Procedures Concomitant Open Procedures Pain Management 2022 Priorities: Driving Therapy Expansion © 2022 AtriCure, Inc. All rights reserved. Initiate clinical trial for LAAM in cardiac surgery (LeAAPS) Launch EnCompass Clamp in U.S. Grow commercial team and awareness globally Train and Expand Hybrid AF Therapy: Adoption by new and existing accounts Addition of LAAM to procedures 10

66% 61% 37% 26% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 12 months 18 months Convergent Catheter Ablation • Superior outcomes with hybrid Convergent procedure when compared to endocardial catheter ablation alone in patients with drug refractory long-standing persistent Afib • Data for long-standing persistent patients in the trial demonstrated compelling efficacy and durability • Improved EP lab efficiency demonstrated by reduction in endocardial ablation time as a result of adding epicardial ablation CONVERGE: Long-standing Persistent Afib Patient Analysis © 2022 AtriCure, Inc. All rights reserved. p = 0.022 p = 0.006 Freedom from AF/AFL/AT from 3-month blanking period through 12-months and 18-months 35% differential >100% improvement 29% differential ~78% improvement 11

Benefits of the EPi-Sense System and Hybrid AF Therapy Benefits based on 7-day continuous rhythm monitoring at 18-months post procedure © 2022 AtriCure, Inc. All rights reserved. ≥90% LESS TIME IN AF For most patients at 1 year Epicardial: Outside the heart Endocardial: Inside the heart 2 TRIGGER AREAS TARGETED where atrial fibrillation begins Emphasizes value of team-based approach for advanced AF treatment 2x (vs endocardial RF ablation alone) PATIENTS ARE MORE LIKELY TO NO LONGER NEED AF MEDICATION 2x (vs endocardial RF ablation alone) MORE THAN AS EFFECTIVE AT STOPPING AA Additive to endocardial catheter ablation Patients in the Hybrid AF Arm report feeling better, both physically + emotionally8 12

Commercial Strategy for the EPi-Sense System © 2022 AtriCure, Inc. All rights reserved. Build Train and develop programs, build referral channel Amplify Spread awareness of Hybrid AF Therapy to patients Leverage Add AtriClip to Hybrid AF Therapy Expand Grow commercial + training teams, broaden internationally 13 Target Drive utilization with existing and new sites

Innovative and Expanding Product Portfolio © 2022 AtriCure, Inc. All rights reserved. Ablation LAA Management EPI-SENSE® DEVICE ATRICLIP PRO•V® DEVICE ATRICLIP FLEX•V® DEVICE cryoICE® CRYOABLATION PROBE ISOLATOR® SYNERGY™ CLAMP ATRICLIP® FLEX DEVICE ATRICLIP PRO® DEVICE cryoSPHERE® CRYOABLATION PROBE ISOLATOR SYNERGY ENCOMPASS® CLAMP 14 Continuous innovation to less invasive, simpler to use, and more efficient products

© 2022 AtriCure, Inc. All rights reserved. Spotlight: Cryo Nerve Block for Pain Management Highlights • Dedicated commercial team established (2019) and expanding • Launch of cryoSPHERE® probe in US (Q1 2019) • Label expansion includes adolescent patients as young as 12 years of age • Europe launch in 2022 Therapy Overview • Temporarily stops transmission of pain signals coming from the chest wall during surgery • Nerve “scaffolds” remain intact allowing axons to regenerate and restore nerve function over time • Applicability in a wide variety of thoracic surgical approaches and procedures • Can be an important tool in combatting the opioid epidemic – 1 in 7 thoracic surgery patients become reliant upon opioids after their procedure9 A new way to freeze out post-operative pain: cryotherapy for temporary pain relief in thoracic surgical procedures 15

© 2022 AtriCure, Inc. All rights reserved. Spotlight: Isolator Synergy EnCompass® Clamp Highlights • FDA 510(k) clearance in July 2021 • Broad commercial launch in U.S. April 2022 • Continue to drive penetration of cardiac surgery market Product Overview • FDA 510(k) clearance to ablate cardiac tissue during surgery • Designed with same benefits of the AtriCure Isolator Synergy Clamps: + Parallel closure + Uniform pressure + Synergy algorithm provides custom power • Compatible with existing AtriCure RF generator A simpler and faster approach to ablating the heart in open procedures 16

IDE Trial to support safety and efficacy of hybrid sinus node sparing ablation procedure for the treatment of IST © 2022 AtriCure, Inc. All rights reserved. HEAL-IST Overview Primary Endpoints Effectiveness Freedom from IST at 12-months. Freedom from IST is defined as mean heart rate of ≤ 90bpm or at least a 15% reduction in mean heart rate as compared to baseline, in the absence of new or higher dosage of previously failed medications. Safety Incidence of device or procedure-related major adverse events (MAEs) for subjects undergoing the hybrid sinus node sparing ablation procedure from the index procedure through 30-days post procedure. Study Design Summary Multi-center, prospective, single arm, Bayesian Adaptive Design Number of Subjects and Sites Up to 142 patients at up to 40 sites (US, UK, and EU) Study Duration Safety: 30-day follow-up Efficacy: 12-month follow-up All subjects followed for a total of 24 months post procedure Using AtriCure ISOLATOR Synergy Ablation System CLINICAL TRIAL • Inappropriate Sinus Tachycardia (IST) is a chronic condition characterized by elevated resting heart rate and exaggerated response to exercise or stress  Currently, no approved therapies  First clinical trial for this large unmet need  Building off current Synergy product technology  Hybrid therapy leverages expertise and partnership between EP and Cardiac Surgery • FDA approval of HEAL-IST clinical trial protocol (Q1 2022) • First patient treated (Q2 2022) Highlights 17

IDE Trial to evaluate the effectiveness of prophylactic LAA exclusion for the prevention of ischemic stroke or systemic arterial embolism in cardiac surgery patients without pre-operative AF diagnosis © 2022 AtriCure, Inc. All rights reserved. LeAAPS Overview Primary Endpoints Effectiveness First occurrence of ischemic stroke or systemic arterial embolism. Safety Incidence of safety events through 30-days to demonstrate no increase in risk with LAA exclusion during cardiac surgery. Study Design Summary Multi-center, prospective, randomized control (1:1) trial Number of Subjects and Sites Up to 6,500 subjects at up to 250 sites worldwide Study Duration Safety: 30-day follow-up Efficacy: Event-driven trial, with a minimum follow-up of 5 years post procedure Using AtriClip LAA Exclusion System CLINICAL TRIAL Left Atrial Appendage Exclusion for P rophylactic Stroke Reduction • Seminal clinical trial – one of the largest IDE trials in cardiac surgery • Study will have a global reach with sites in the United States, Canada, Europe and Asia • Multiple secondary and other key endpoints will be evaluated • FDA approval of LeAAPS clinical trial protocol (Q2 2022) Highlights 18

BBB AtriCure Pillars Foundation of our past + Strengthening our future INNOVATION Increasing pipeline to drive LAAM penetration and build MIS market Aligning Expertise and Opportunity Dedicated Commercial + Education Teams U.S. CARDIAC 130+ Sales + Clinical Specialists U.S. HYBRID THERAPIES 50+ Sales + Clinical Specialists U.S. CRYO NERVE BLOCK 40+ Sales + Clinical Specialists Key Investments Driving Growth © 2022 AtriCure, Inc. All rights reserved. CLINICAL SCIENCE Hybrid AF Therapy proven by CONVERGE trial; Focusing on expansion of clinical data across franchises EDUCATION Significant investment in physician education, providing multiple training options U.S. SALES LEADERSHIP 26 Area Directors across teams U.S. EDUCATION 40+ Physician + Field Support Roles INTERNATIONAL 50+ Sales + Education Professionals 19

History of Strong Growth © 2022 AtriCure, Inc. All rights reserved. History of Consistent Revenue Growth 5-Year historical organic revenue CAGRs (pre-COVID-19) **Based on midpoint of 2022 Revenue guidance range 2022 Revenue Guidance Updated August 2022 Revenue ($ Millions) COVID19 IMPACT Accelerating Growth (18-21% YoY) $323M-333M worldwide revenue 32% U.S. AtriClip 11% U.S. Open Ablation excluding Pain Management 8% U.S. MIS Ablation 10% International U.S. Open Ablation U.S. Pain Management U.S. MIS Ablation U.S. LAAM International 20 5-Year organic Revenue CAGR ~15%

Second Quarter 2022 Financial Highlights © 2022 AtriCure, Inc. All rights reserved. Key Metrics*Worldwide Revenue* ($M) • Strong activity and growing demand across key product lines demonstrating our many growth catalysts • U.S. revenue of $71.3M (84% of revenue) • International revenue of $13.3M (16% of revenue) * 2022 financial results are preliminary and unaudited ** Reconciliation of Adjusted EBITDA and Adjusted Loss per share to GAAP metrics may be found in Q2 2022 earnings release. Q2 2021 Q2 2022 GROSS MARGIN 75.8% 75.1% OPERATING EXPENSES $69.2M $77.2M ADJUSTED EBITDA-S** ($2.7M) ($3.2M) ADJ. LOSS PER SHARE** ($0.30) ($0.32) CASH & INVESTMENTS $230M $183M 21 $74.6 $84.5 Q1 2022 Q2 2022 $71.4 $84.5 Q2 2021 Q2 2022 18% 13%

Exciting Future Ahead © 2022 AtriCure, Inc. All rights reserved. 22 Accelerating Growth in EP Landscape Hybrid AF Therapy Expanding With Pain Management Cryo Nerve Block Comprehensive Platform of Therapies for differentiated population of Afib patients Surgical Ablation + AtriClip

Thank You! © 2022 AtriCure, Inc. All rights reserved.

Supplemental Information © 2022 AtriCure, Inc. All rights reserved. References for any comments, statistics, or figures in this presentation are available upon request.

Change in Revenue Presentation © 2022 AtriCure, Inc. All rights reserved. Three Months Ended (in $000s) March 31, 2021 June 30, 2021 September 30, 2021 December 31, 2021 United States Revenue: Open ablation $17,439 $19,503 $17,893 $17,561 Minimally invasive ablation 8,385 9,702 9,990 11,303 Pain management 3,898 5,709 6,253 6,927 Total ablation 29,722 34,914 34,136 35,791 Appendage management 20,587 25,156 23,401 25,424 Total United States $50,309 $60,070 $57,537 $61,215 International Revenue: Open ablation $4,434 $5,526 $6,690 $6,544 Minimally invasive ablation 1,274 1,575 1,849 1,711 Pain management — 11 11 39 Total ablation 5,708 7,112 8,550 8,294 Appendage management 3,258 4,194 4,373 3,709 Total International $8,966 $11,306 $12,923 $12,003 Total Revenue $59,275 $71,376 $70,460 $73,218 Summary of Changes Implemented Q1 2022 Presentation of revenue aligns with current product line offerings. • PAIN MANAGEMENT revenue (sales of cryoSPHERE probe), historically included in Open ablation revenue, is now separately presented. • VALVE revenue, historically shown as a separate product type, is now included in Open ablation revenue. 25

Key Investment Rationale © 2022 AtriCure, Inc. All rights reserved. • Approximately 33 million Atrial Fibrillation patients globally, with majority having advanced forms of the disease1 • Multibillion dollar annual market opportunity • Current standard of care for intervention (catheter ablation) does not adequately address the most advanced forms of the disease • Strong history of double-digit revenue growth, driven by great products, clinical evidence, commitment to education, and societal guideline support • Only PMA product for the concomitant surgical treatment of Afib • AtriClip device is the most widely used Left Atrial Appendage device with over 300,000 sold to date • Diverse and expanding product portfolio from internal development and acquisitions • Only PMA product for treatment of LS persistent Afib with Hybrid AF Therapy • Growing pain management business to address pain associated with surgery • Early in market development process – evolution to minimally invasive therapies expected to drive growth, diversifying and accelerating in 2022 and beyond Large Markets Addressing an underserved and growing patient population Strong Portfolio Existing products and solutions driving consistent growth Bright Future Novel therapies supported by growing body of clinical evidence 26

© 2022 AtriCure, Inc. All rights reserved. COVID-19 Response Positioning AtriCure for long-term growth • Maintaining manufacturing, assembly, fulfillment – modified to adhere to safety recommendations • Continuing case coverage support • Utilizing online and mobile training venues to educate our customers • Enabling employees to work remotely; implemented hybrid workplans • Providing personal protection and other measures to ensure the safety of those working in our offices and with customers Provide a safe work environment for our employees Health & Safety Deliver products and support to our customers Maintaining Operations 27 While our plans will continue to evolve in response to changes caused by the COVID-19 pandemic, we remain committed to the AtriCure team and to the execution of our strategic initiatives.

• US annual cardiac surgery volume steady over the past 5 years with shifts in procedure types10 • Pre-Op Afib occurs frequently in cardiac surgery patients11 • New onset Post-Op Afib is a well- documented complication of cardiac surgery, even if patients do not present with pre-op Afib12 © 2022 AtriCure, Inc. All rights reserved. US Concomitant Market Opportunity Estimated Afib Opportunity in Cardiac Surgery Annual Cardiac Surgeries13 300,000 Pre-Operative Afib Rate11 ~28% Cardiac Opportunity – Pre-Op Afib 85,000 ASP Mix (Ablation and Appendage Management)14 $5,000 Open Cardiac Surgery Opportunity – Afib $410M Estimated Non-Afib Opportunity in Cardiac Surgery Annual Cardiac Surgeries 300,000 Pre-Operative Non-Afib Rate ~72% Cardiac Opportunity – Pre-Op Afib 215,000 ASP Mix (Appendage Management ONLY)14 $1,750 Open Cardiac Surgery Opportunity – Non-Afib $376M 28

© 2022 AtriCure, Inc. All rights reserved. US Standalone Market Opportunity Market opportunity in analysis at right considers: • Addition of ablation and LAAM to existing catheter ablation procedures − Catheter ablation procedures have grown 10-15% annually15 • Incremental penetration of advanced Afib patient population − Today, long-standing persistent Afib population represents more than 3 million patients in the United States, expected to grow to more than 4.4 million by 202516 • ASP Mix is both ablation and AtriClip Estimated Standalone Afib Opportunity 2020 Projected 2025 Long-standing Persistent Afib Catheter Ablation17 25,000 45,000 ASP Mix (Ablation + Appendage Management)14 $15,000 $15,000 Immediate Standalone Afib Opportunity $375M $675M Additional penetration Long-standing Persistent Afib patients (estimated at 5% penetration) 150,000 175,000 ASP Mix (Ablation + Appendage Management)14 $15,000 $15,000 Incremental Standalone Afib Opportunity (estimated at 5% penetration) $2B+ $3B+ 29

SUPERIORITY TRIAL designed to support FDA approval of the EPi-Sense device © 2022 AtriCure, Inc. All rights reserved. CONVERGE Overview Primary Endpoints Effectiveness Primary efficacy endpoint is success or failure to be AF/AT/AFL-free absent class I and III AADs except for a previously failed or intolerant class I or III AAD with no increase in dosage following the 3 month blanking period through the 12 months post procedure follow-up visit Safety Predetermined performance goal for the study is 12% freedom from MAE’s as adjudicated by the CEC for the procedural to 30-day post procedure time period Study Design Summary Multi-center, prospective, open label randomized 2:1 (Hybrid Convergent procedure vs endocardial catheter ablation) pivotal study Number of Subjects and Sites 153 subjects 27 sites (25 US and 2 OUS) Study Duration 12 month and 18 month monitoring, then 3 and 5 year follow-up of all subjects Achieved statistical superiority for primary endpoints • Completed enrollment August 2018 • Data released at virtual Heart Rhythm Society (HRS) conference May 2020 • PMA submission seeking approval for treatment of long-standing persistent Afib November 2020 • Trial results published in Circulation: Arrhythmia and Electrophysiology November 2020 • Long-standing persistent Afib patient sub- group analysis presented at 26th Annual Atrial Fibrillation (AF) Symposium January 2021 and 14th Annual Western AF Symposium February 2021 • FDA approval of EPi-Sense System for treatment of long-standing persistent Afib April 2021 Highlights 30

Hybrid AF Therapy: The Convergent Procedure © 2022 AtriCure, Inc. All rights reserved. 31

The Cox-Maze IV Procedure © 2022 AtriCure, Inc. All rights reserved. 32

References and Abbreviations © 2022 AtriCure, Inc. All rights reserved. Note Reference 1 Worldwide Epidemiology of Atrial Fibrillation: A Global Burden of Disease 2010 Study 2 The American Journal of Cardiology (2013), 112: 1142-1147 3 Lifetime risk for development of atrial fibrillation. Circulation, 110 (2004): 1042-1046. doi: 10.1161/01.CIR.0000140263.20897.42 4 J Geriatr Cardiol. 2016 Oct; 13(10): 880–882, doi: 10.11909/j.issn.1671-5411.2016.10.004 5 Odutayo, A. et al. (2016). Atrial fibrillation and risks of cardiovascular disease, renal disease, and deaths systematic review and meta analysis. BMJ 2016; 354:i4482 6 Santhanakrishnan R et al., “AF Begets Heart Failure and Vice Versa,” Circulation, 133 (2016):484-492 7 The Society of Thoracic Surgeons 2017 Clinical Practice Guidelines for the Surgical Treatment of Atrial Fibrillation 8 IFU for EPi-Sense® Guided Coagulation System Data: PMA# P200002 9 The Society of Thoracic Surgeons, Current News Release (1/30/2018): 1 in 7 Lung Surgery Patients at Risk for Opioid Dependence 10 STS Adult Cardiac Surgery Database, 2018/2019 Harvest Executive Summary 11 McCarthy, P.M. et al. (2019). Prevalence of atrial fibrillation before cardiac surgery and factors associated with concomitant ablation. J Thorac Cardiovasc Surg, PII: S0022-5223(19)31361-3, DOI: 10.1016/J.JTCVS.2019.06.062. 12 Lin et al, Stroke 2019 Jun; 50(6):1364-1371. doi: 10.1161/STROKEAHA.118.023921. Epub 2019 May 2. 13 Harvested from data previously available through the Society of Thoracic Surgeons 14 Average Selling Prices (ASPs) are management estimates based on a mix of products used for the various procedures 15 Estimated based on various catheter company presentations 16 Medical management estimate: Colilia, et al. Estimates of Current and Future Incidence and Prevalence of Atrial Fibrillation in the U.S. Adult Population. Am Journal of Cardiology 2013, 112: 1142-1147 Persistent patient estimate: Berisso et al Epidemiology of atrial fibrillation: European perspective Clin Epidemiol. 2014; 6: 213–220 17 Estimated based on Advisory Board data, along with various scientific presentations Key Abbreviations Afib or AF Atrial Fibrillation AA Atrial Arrythmia AAD Anti-Arrhythmic Drugs AFL Atrial Flutter AT Atrial Tachycardia CABG Coronary Artery Bypass Graft CEC Clinical Events Committee EP Electrophysiologist FDA Food & Drug Administration IST Inappropriate Sinus Tachycardia LAA Left Atrial Appendage LAAM LAA Management LS Long-standing MAE Material Adverse Event PMA Pre-Market Approval RF Radio Frequency 33

XML

Cover	Aug. 02, 2022
Cover [Abstract]
Document Type	8-K
Document Period End Date	Aug. 02, 2022
Entity Registrant Name	AtriCure, Inc.
Entity Incorporation, State or Country Code	DE
Entity File Number	000-51470
Entity Tax Identification Number	34-1940305
Entity Address, Address Line One	7555 Innovation Way
Entity Address, City or Town	Mason
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45040
City Area Code	513
Local Phone Number	755-4100
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $.001 par value
Trading Symbol	ATRC
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Central Index Key	0001323885
Amendment Flag	false